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Investment Securities (Tables)
 9 Months Ended
Sep. 30, 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 September 30, 2014 and December 31, 2013 are as follows:
 
 
September 30, 2014
 
 
 
 
Gross
 
Gross
 
 
 
 
Amortized
 
Unrealized
 
Unrealized
 
Fair
(In Thousands)
 
Cost
 
Gains
 
Losses
 
Value
Available for sale (AFS)
 
 

 
 

 
 

 
 

U.S. Government and agency securities
 
$
5,935

 
$
1

 
$
(140
)
 
$
5,796

Mortgage-backed securities
 
10,689

 
495

 
(49
)
 
11,135

Asset-backed securities
 
2,536

 
38

 
(3
)
 
2,571

State and political securities
 
108,801

 
3,779

 
(798
)
 
111,782

Other debt securities
 
90,130

 
932

 
(1,326
)
 
89,736

Total debt securities
 
218,091

 
5,245

 
(2,316
)
 
221,020

Financial institution equity securities
 
8,304

 
938

 
(21
)
 
9,221

Other equity securities
 
3,430

 
64

 
(101
)
 
3,393

Total equity securities
 
11,734

 
1,002

 
(122
)
 
12,614

Total investment securities AFS
 
$
229,825

 
$
6,247

 
$
(2,438
)
 
$
233,634

 
 
 
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 September 30, 2014 and December 31, 2013.
 
 
September 30, 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
 
$
1,010

 
$
(1
)
 
$
3,816

 
$
(139
)
 
$
4,826

 
$
(140
)
Mortgage-backed securities
 
3,903

 
(40
)
 
891

 
(9
)
 
4,794

 
(49
)
Asset-backed securities
 
—

 
—

 
567

 
(3
)
 
567

 
(3
)
State and political securities
 
1,816

 
(11
)
 
7,722

 
(787
)
 
9,538

 
(798
)
Other debt securities
 
24,535

 
(565
)
 
27,188

 
(761
)
 
51,723

 
(1,326
)
Total debt securities
 
31,264

 
(617
)
 
40,184

 
(1,699
)
 
71,448

 
(2,316
)
Financial institution equity securities
 
369

 
(21
)
 
—

 
—

 
369

 
(21
)
Other equity securities
 
366

 
(67
)
 
766

 
(34
)
 
1,132

 
(101
)
Total equity securities
 
735

 
(88
)
 
766

 
(34
)
 
1,501

 
(122
)
Total
 
$
31,999

 
$
(705
)
 
$
40,950

 
$
(1,733
)
 
$
72,949

 
$
(2,438
)
 
 
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
The amortized cost and fair value of debt securities at September 30, 2014, 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
 
$
4,650

 
$
4,718

Due after one year to five years
 
34,283

 
34,465

Due after five years to ten years
 
100,281

 
99,983

Due after ten years
 
78,877

 
81,854

Total
 
$
218,091

 
$
221,020
Schedule of gross realized gains and losses
The following table represents gross realized gains and losses on those transactions:
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
(In Thousands)
2014
 
2013
 
2014
 
2013
Gross realized gains:
 

 
 

 
 

 
 

U.S. Government and agency securities
$
—

 
$
—

 
$
49

 
$
—

Mortgage-backed securities
13

 
—

 
89

 
—

State and political securities
1,361

 
276

 
2,093

 
1,917

Other debt securities
149

 
163

 
611

 
462

Financial institution equity securities
582

 
—

 
710

 
130

Other equity securities
86

 
—

 
205

 
250

Total gross realized gains
$
2,191

 
$
439

 
$
3,757

 
$
2,759

 
 
 
 
 
 
 
 
Gross realized losses:
 

 
 

 
 

 
 

U.S. Government and agency securities
$
—

 
$
—

 
$
45

 
$
—

State and political securities
9

 
415

 
412

 
475

Other debt securities
37

 
27

 
209

 
27

Other equity securities
—

 
—

 
66

 
—

Total gross realized losses
$
46

 
$
442

 
$
732

 
$
502