Securities (Tables)

6 Months Ended

Jun. 30, 2012

Securities [Abstract]

Amortized cost and fair value of securities available for sale and held for investment

The amortized cost and fair value of securities available for sale and held for investment at June 30, 2012 and December 31, 2011 are summarized as follows:

	June 30, 2012
(Dollars in thousands)	Gross Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
SECURITIES AVAILABLE FOR SALE
U.S. Treasury securities and obligations of U.S. Government Sponsored Entities	$	1,699	$	15	$	0		$	1,714
Mortgage-backed securities of U.S. Government Sponsored Entities		175,307		3,576		(343	)		178,540
Collateralized mortgage obligations of U.S. Government Sponsored Entities		306,900		2,630		(894	)		308,636
Private collateralized mortgage obligations		73,183		568		(857	)		72,894
Obligations of state and political subdivisions		847		60		0			907
	$	557,936	$	6,849	$	(2,094	)	$	562,691
SECURITIES HELD FOR INVESTMENT
Collateralized mortgage obligations of U.S. Government Sponsored Entities	$	7,393	$	0	$	(144	)	$	7,249
Private collateralized mortgage obligations		1,569		43		0			1,612
Obligations of state and political subdivisions		6,660		726		(3	)		7,383
Other		1,500		55		0			1,555
	$	17,122	$	824	$	(147	)	$	17,799

	December 31, 2011
(Dollars in thousands)	Gross Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
SECURITIES AVAILABLE FOR SALE
U.S. Treasury securities and obligations of U.S. Government Sponsored Entities	$	1,699	$	25	$	0		$	1,724
Mortgage-backed securities of U.S. Government Sponsored Entities		135,665		2,819		(37	)		138,447
Collateralized mortgage obligations of U.S. Government Sponsored Entities		428,139		9,111		(316	)		436,934
Private collateralized mortgage obligations		73,247		330		(3,487	)		70,090
Obligations of state and political subdivisions		1,097		70		0			1,167
	$	639,847	$	12,355	$	(3,840	)	$	648,362
SECURITIES HELD FOR INVESTMENT
Collateralized mortgage obligations of U.S. Government Sponsored Entities	$	10,475	$	0	$	(136	)	$	10,339
Private collateralized mortgage obligations		1,840		40		0			1,880
Obligations of state and political subdivisions		6,662		570		0			7,232
Other		1,000		36		0			1,036
	$	19,977	$	646	$	(136	)	$	20,487

Amortized cost and fair value of securities by contractual maturity

	Held for Investment				Available for Sale
(Dollars in thousands)	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in less than one year	$	0	$	0	$	1,699	$	1,714
Due after one year through five years		376		381		441		475
Due after five years through ten years		1,254		1,358		406		432
Due after ten years		5,030		5,644		0		0
		6,660		7,383		2,546		2,621
Mortgage-backed securities of Government Sponsored Entities		0		0		175,307		178,540
Collateralized mortgage obligations of Government Sponsored Entities		7,393		7,249		306,900		308,636
Private collateralized mortgage obligations		1,569		1,612		73,183		72,894
No contractual maturity		1,500		1,555		0		0
	$	17,122	$	17,799	$	557,936	$	562,691

Schedule of unrealized loss and fair value on investments

	June 30, 2012
	Less than 12 months					12 months or longer					Total
(Dollars in thousands)	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Mortgage-backed securities of U.S. Government Sponsored Entities	$	45,484	$	(343	)	$	0	$	0		$	45,484	$	(343	)
Collateralized mortgage obligations of U.S. Government Sponsored Entities		132,055		(1,038	)		0		0			132,055		(1,038	)
Private collateralized mortgage obligations		9,768		(166	)		34,217		(691	)		43,985		(857	)
Obligations of state and political subdivisions		430		(3	)		0		0			430		(3	)
Total temporarily impaired securities	$	187,737	$	(1,550	)	$	34,217	$	(691	)	$	221,954	$	(2,241	)

	December 31, 2011
	Less than 12 months					12 months or longer					Total
(Dollars in thousands)	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Mortgage-backed securities of U.S. Government Sponsored Entities	$	18,800	$	(37	)	$	0	$	0		$	18,800	$	(37	)
Collateralized mortgage obligations of U.S. Government Sponsored Entities		59,913		(452	)		0		0			59,913		(452	)
Private collateralized mortgage obligations		32,615		(2,001	)		27,282		(1,486	)		59,897		(3,487	)
Total temporarily impaired securities	$	111,328	$	(2,490	)	$	27,282	$	(1,486	)	$	138,610	$	(3,976	)