Securities (Tables)

9 Months Ended

Sep. 30, 2012

Securities [Abstract]

Amortized cost and fair value of securities held to maturity

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
September 30, 2012
Obligations of other U.S. Government agencies and corporations	$	66,916	$	105	$	(57	)	$	66,964
Obligations of states and political subdivisions		232,223		17,540		(29	)		249,734
	$	299,139	$	17,645	$	(86	)	$	316,698
December 31, 2011
Obligations of other U.S. Government agencies and corporations	$	107,660	$	225	$	(74	)	$	107,811
Obligations of states and political subdivisions		224,750		12,083		(26	)		236,807
	$	332,410	$	12,308	$	(100	)	$	344,618

Amortized cost and fair value of securities available for sale

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
September 30, 2012
Obligations of other U.S. Government agencies and corporations	$	2,175	$	272	$	—		$	2,447
Residential mortgage backed securities:
Government agency mortgage backed securities		166,807		7,777		(2	)		174,582
Government agency collateralized mortgage obligations		114,811		2,515		(400	)		116,926
Commercial mortgage backed securities:
Government agency mortgage backed securities		37,064		3,062		(31	)		40,095
Government agency collateralized mortgage obligations		5,111		340		—			5,451
Trust preferred securities		29,459		—		(14,117	)		15,342
Other debt securities		22,871		841		(48	)		23,664
Other equity securities		2,355		678		—			3,033
	$	380,653	$	15,485	$	(14,598	)	$	381,540

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
December 31, 2011
Obligations of other U.S. Government agencies and corporations	$	17,193	$	202	$	—		$	17,395
Residential mortgage backed securities:
Government agency mortgage backed securities		224,242		6,455		(30	)		230,667
Government agency collateralized mortgage obligations		133,369		3,700		(82	)		136,987
Commercial mortgage backed securities:
Government agency mortgage backed securities		34,635		2,054		(20	)		36,669
Government agency collateralized mortgage obligations		5,170		146		—			5,316
Trust preferred securities		30,410		—		(17,625	)		12,785
Other debt securities		21,351		527		(3	)		21,875
Other equity securities		2,341		—		(104	)		2,237
	$	468,711	$	13,084	$	(17,864	)	$	463,931

Gross realized gains and gross realized losses on sales of securities available for sale

	Three Months  Ended September 30,				Nine Months Ended September 30,
	2012		2011		2012			2011
Gross gains on sales of securities available for sale	$	—	$	5,041	$	1,850		$	5,041
Gross losses on sales of securities available for sale		—		—		(77	)		—
Gain on sales of securities available for sale, net	$	—	$	5,041	$	1,773		$	5,041

Amortized cost and fair value of securities by contractual maturity

	Held to Maturity				Available for Sale
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within one year	$	9,835	$	9,905	$	—	$	—
Due after one year through five years		37,045		38,207		—		—
Due after five years through ten years		110,135		113,946		2,175		2,447
Due after ten years		142,124		154,640		29,459		15,342
Residential mortgage backed securities:
Government agency mortgage backed securities		—		—		166,807		174,582
Government agency collateralized mortgage obligations		—		—		114,811		116,926
Commercial mortgage backed securities:
Government agency mortgage backed securities		—		—		37,064		40,095
Government agency collateralized mortgage obligations		—		—		5,111		5,451
Other debt securities		—		—		22,871		23,664
Other equity securities		—		—		2,355		3,033
	$	299,139	$	316,698	$	380,653	$	381,540

Unrealized losses and fair value by investment category

	Less than 12 Months					12 Months or More					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Held to Maturity:
September 30, 2012
Obligations of other U.S. Government agencies and corporations	$	23,377	$	(57	)	$	—	$	—		$	23,377	$	(57	)
Obligations of states and political subdivisions		2,398		(28	)		126		(1	)		2,524		(29	)
Total	$	25,775	$	(85	)	$	126	$	(1	)	$	25,901	$	(86	)
December 31, 2011
Obligations of other U.S. Government agencies and corporations	$	19,919	$	(74	)	$	—	$	—		$	19,919	$	(74	)
Obligations of states and political subdivisions		4,301		(19	)		1,530		(7	)		5,831		(26	)
Total	$	24,220	$	(93	)	$	1,530	$	(7	)	$	25,750	$	(100	)
Available for Sale:
September 30, 2012
Obligations of other U.S. Government agencies and corporations	$	—	$	—		$	—	$	—		$	—	$	—
Residential mortgage backed securities:
Government agency mortgage backed securities		5,171		(2	)		—		—			5,171		(2	)
Government agency collateralized mortgage obligations		45,147		(382	)		1,991		(18	)		47,138		(400	)
Commercial mortgage backed securities:
Government agency mortgage backed securities		—		—			1,225		(31	)		1,225		(31	)
Government agency collateralized mortgage obligations		—		—			—		—			—		—
Trust preferred securities		—		—			15,342		(14,117	)		15,342		(14,117	)
Other debt securities		3,089		(47	)		2,210		(1	)		5,299		(48	)
Total	$	53,407	$	(431	)	$	20,768	$	(14,167	)	$	74,175	$	(14,598	)
December 31, 2011
Obligations of other U.S. Government agencies and corporations	$	—	$	—		$	—	$	—		$	—	$	—
Residential mortgage backed securities:
Government agency mortgage backed securities		4,446		(30	)		—		—			4,446		(30	)
Government agency collateralized mortgage obligations		16,806		(82	)		—		—			16,806		(82	)
Commercial mortgage backed securities:
Government agency mortgage backed securities		—		—			1,255		(20	)		1,255		(20	)
Government agency collateralized mortgage obligations		—		—			—		—			—		—
Trust preferred securities		—		—			12,785		(17,625	)		12,785		(17,625	)
Other debt securities		—		—			2,662		(3	)		2,662		(3	)
Other equity securities		2,237		(104	)		—		—			2,237		(104	)
Total	$	23,489	$	(216	)	$	16,702	$	(17,648	)	$	40,191	$	(17,864	)

Investments in pooled trust preferred securities

Name	Single/ Pooled	Class/ Tranche	Amortized Cost		Fair Value		Unrealized Loss			Lowest Credit Rating		Issuers Currently in Deferral or Default
XIII	Pooled	B-2	$	1,216	$	1,011	$	(205	)		Ca		40	%
XXIII	Pooled	B-2		10,599		6,518		(4,081	)		Ca		22	%
XXIV	Pooled	B-2		12,076		5,176		(6,900	)		Ca		34	%
XXVI	Pooled	B-2		5,568		2,637		(2,931	)		Ca		32	%
			$	29,459	$	15,342	$	(14,117	)

Cumulative credit related losses recognized in earnings

	2012			2011
Balance at January 1	$	(3,337	)	$	(3,075	)
Additions related to credit losses for which OTTI was not previously recognized		—			(262	)
Increases in credit loss for which OTTI was previously recognized		—			—
Balance at September 30	$	(3,337	)	$	(3,337	)