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Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2014
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 March 31, 2014 and December 31, 2013 are as follows:
 
 
March 31, 2014
 
 
 
 
Gross
 
Gross
 
 
 
 
Amortized
 
Unrealized
 
Unrealized
 
Fair
(In Thousands)
 
Cost
 
Gains
 
Losses
 
Value
Available for sale (AFS)
 
 

 
 

 
 

 
 

U.S. Government and agency securities
 
$
9,403

 
$
34

 
$
(191
)
 
$
9,246

Mortgage-backed securities
 
13,037

 
644

 
(59
)
 
13,622

Asset-backed securities
 
2,629

 
38

 
(5
)
 
2,662

State and political securities
 
132,585

 
3,155

 
(2,757
)
 
132,983

Other debt securities
 
104,802

 
872

 
(1,851
)
 
103,823

Total debt securities
 
262,456

 
4,743

 
(4,863
)
 
262,336

Financial institution equity securities
 
8,079

 
1,760

 
(1
)
 
9,838

Other equity securities
 
3,849

 
92

 
(82
)
 
3,859

Total equity securities
 
11,928

 
1,852

 
(83
)
 
13,697

Total investment securities AFS
 
$
274,384

 
$
6,595

 
$
(4,946
)
 
$
276,033

 
 
 
December 31, 2013
 
 
 
 
Gross
 
Gross
 
 
 
 
Amortized
 
Unrealized
 
Unrealized
 
Fair
(In Thousands)
 
Cost
 
Gains
 
Losses
 
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
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 March 31, 2014 and December 31, 2013.
 
 
March 31, 2014
 
 
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
 
$
3,696

 
$
(32
)
 
$
3,837

 
$
(159
)
 
$
7,533

 
$
(191
)
Mortgage-backed securities
 
6,386

 
(59
)
 
—

 
—

 
6,386

 
(59
)
Asset-backed securities
 
—

 
—

 
660

 
(5
)
 
660

 
(5
)
State and political securities
 
22,563

 
(674
)
 
11,217

 
(2,083
)
 
33,780

 
(2,757
)
Other debt securities
 
57,270

 
(1,262
)
 
12,032

 
(589
)
 
69,302

 
(1,851
)
Total debt securities
 
89,915

 
(2,027
)
 
27,746

 
(2,836
)
 
117,661

 
(4,863
)
Financial institution equity securities
 
182

 
(1
)
 
—

 
—

 
182

 
(1
)
Other equity securities
 
1,373

 
(40
)
 
800

 
(42
)
 
2,173

 
(82
)
Total equity securities
 
1,555

 
(41
)
 
800

 
(42
)
 
2,355

 
(83
)
Total
 
$
91,470

 
$
(2,068
)
 
$
28,546

 
$
(2,878
)
 
$
120,016

 
$
(4,946
)
 
 
December 31, 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
)
Financial institution equity securities
 
—

 
—

 
—

 
—

 
—

 
—

Other equity securities
 
274

 
(22
)
 
655

 
(45
)
 
929

 
(67
)
Total equity securities
 
274

 
(22
)
 
655

 
(45
)
 
929

 
(67
)
Total
 
$
130,175

 
$
(5,953
)
 
$
9,600

 
$
(2,935
)
 
$
139,775

 
$
(8,888
)
Schedule of amortized cost and fair value of debt securities by contractual maturity
(In Thousands)
 
Amortized Cost
 
Fair Value
Due in one year or less
 
$
2,287

 
$
2,293

Due after one year to five years
 
31,363

 
31,641

Due after five years to ten years
 
122,156

 
121,061

Due after ten years
 
106,650

 
107,341

Total
 
$
262,456

 
$
262,336
Schedule of gross realized gains and losses
The following table represents gross realized gains and losses on those transactions:
 
 
 
Three Months Ended March 31,
(In Thousands)
 
2014
 
2013
Gross realized gains:
 
 

 
 

State and political securities
 
$
345

 
$
579

Other debt securities
 
307

 
121

Financial institution equity securities
 
112

 
130

Other equity securities
 
55

 
216

Total gross realized gains
 
$
819

 
$
1,046

 
 
 
 
 
Gross realized losses:
 
 

 
 

U.S. Government and agency securities
 
$
31

 
$
—

State and political securities
 
320

 
60

Other debt securities
 
75

 
—

Total gross realized losses
 
$
426

 
$
60