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INVESTMENT SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2013
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost and fair values of investment securities
The amortized cost and fair values of investment securities at December 31, 2013 and 2012 are as follows:
 
 
 
2013
(In Thousands)
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
Available for sale (AFS)
 
 

 
 

 
 

 
 

U.S. Government and agency securities
 
$
9,989

 
$
17

 
$
(83
)
 
$
9,923

Mortgage-backed securities
 
9,966

 
694

 
(68
)
 
10,592

Asset-backed securities
 
6,700

 
43

 
(179
)
 
6,564

State and political securities
 
145,121

 
2,120

 
(5,446
)
 
141,795

Other debt securities
 
108,939

 
879

 
(3,045
)
 
106,773

Total debt securities
 
280,715

 
3,753

 
(8,821
)
 
275,647

Financial institution equity securities
 
8,842

 
1,820

 
—

 
10,662

Other equity securities
 
2,342

 
28

 
(67
)
 
2,303

Total equity securities
 
11,184

 
1,848

 
(67
)
 
12,965

Total investment securities AFS
 
$
291,899

 
$
5,601

 
$
(8,888
)
 
$
288,612

 
 
 
 
 
 
 
 
 
 
 
 
2012
(In Thousands)
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
Available for sale (AFS)
 
 

 
 

 
 

 
 

U.S. Government and agency securities
 
$
3,312

 
$
183

 
$
—

 
$
3,495

Mortgage-backed securities
 
15,753

 
1,142

 
—

 
16,895

Asset-backed securities
 
5,410

 
59

 
(19
)
 
5,450

State and political securities
 
168,843

 
12,805

 
(1,424
)
 
180,224

Other debt securities
 
70,108

 
1,750

 
(259
)
 
71,599

Total debt securities
 
263,426

 
15,939

 
(1,702
)
 
277,663

Financial institution equity securities
 
8,422

 
1,140

 
(14
)
 
9,548

Other equity securities
 
2,068

 
74

 
(37
)
 
2,105

Total equity securities
 
10,490

 
1,214

 
(51
)
 
11,653

Total investment securities AFS
 
$
273,916

 
$
17,153

 
$
(1,753
)
 
$
289,316
Schedule of gross unrealized losses and fair value
The following tables show the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, at December 31, 2013 and 2012.
 
 
 
2013
 
 
Less than Twelve Months
 
Twelve Months or Greater
 
Total
 
 
 
 
Gross
 
 
 
Gross
 
 
 
Gross
 
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
Fair
 
Unrealized
(In Thousands)
 
Value
 
Losses
 
Value
 
Losses
 
Value
 
Losses
U.S. Government and agency securities
 
$
7,740

 
$
(83
)
 
$
—

 
$
—

 
$
7,740

 
$
(83
)
Mortgage-backed securities
 
2,483

 
(68
)
 
—

 
—

 
2,483

 
(68
)
Asset-backed securities
 
3,847

 
(177
)
 
712

 
(2
)
 
4,559

 
(179
)
State and political securities
 
42,577

 
(2,558
)
 
8,233

 
(2,888
)
 
50,810

 
(5,446
)
Other debt securities
 
73,254

 
(3,045
)
 
—

 
—

 
73,254

 
(3,045
)
Total debt securities
 
129,901

 
(5,931
)
 
8,945

 
(2,890
)
 
138,846

 
(8,821
)
Other equity securities
 
274

 
(22
)
 
655

 
(45
)
 
929

 
(67
)
Total
 
$
130,175

 
$
(5,953
)
 
$
9,600

 
$
(2,935
)
 
$
139,775

 
$
(8,888
)
 
 
 
2012
 
 
Less than Twelve Months
 
Twelve Months or Greater
 
Total
 
 
 
 
Gross
 
 
 
Gross
 
 
 
Gross
 
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
Fair
 
Unrealized
(In Thousands)
 
Value
 
Losses
 
Value
 
Losses
 
Value
 
Losses
Asset-backed securities
 
$
910

 
$
(19
)
 
$
—

 
$
—

 
$
910

 
$
(19
)
State and political securities
 
8,882

 
(316
)
 
5,647

 
(1,108
)
 
14,529

 
(1,424
)
Other debt securities
 
11,250

 
(189
)
 
3,727

 
(70
)
 
14,977

 
(259
)
Total debt securities
 
21,042

 
(524
)
 
9,374

 
(1,178
)
 
30,416

 
(1,702
)
Financial institution equity securities
 
66

 
(1
)
 
205

 
(13
)
 
271

 
(14
)
Other equity securities
 
701

 
(28
)
 
63

 
(9
)
 
764

 
(37
)
Total equity securities
 
767

 
(29
)
 
268

 
(22
)
 
1,035

 
(51
)
Total
 
$
21,809

 
$
(553
)
 
$
9,642

 
$
(1,200
)
 
$
31,451

 
$
(1,753
)
Schedule of amortized cost and fair value of debt securities by contractual maturity
The amortized cost and fair value of debt securities at December 31, 2013, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities since borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
 
(In Thousands)
 
Amortized Cost
 
Fair Value
Due in one year or less
 
$
3,456

 
$
3,467

Due after one year to five years
 
41,411

 
41,757

Due after five years to ten years
 
102,516

 
100,183

Due after ten years
 
133,332

 
130,240

Total
 
$
280,715

 
$
275,647
Schedule of gross realized gains and losses
The following table represents gross realized gains and losses on those transactions:
 
 
Year Ended December 31,
(In Thousands)
 
2013
 
2012
 
2011
Gross realized gains:
 
 

 
 

 
 

U.S. Government and agency securities
 
$
—

 
$
2

 
$
—

Mortgage-backed securities
 
—

 
136

 
4

State and political securities
 
2,076

 
327

 
114

Other debt securities
 
490

 
426

 
8

Financial institution equity securities
 
241

 
609

 
316

Other equity securities
 
340

 
587

 
294

Total gross realized gains
 
$
3,147

 
$
2,087

 
$
736

Gross realized losses:
 
 

 
 

 
 

Mortgage-backed securities
 
$
92

 
$
—

 
$
—

State and political securities
 
611

 
440

 
100

Other debt securities
 
27

 
53

 
15

Financial institution equity securities
 
—

 
67

 
—

Other equity securities
 
—

 
242

 
—

Total gross realized losses
 
$
730

 
$
802

 
$
115