Securities (Tables)

6 Months Ended

Jun. 30, 2013

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, 2013 and December 31, 2012 are summarized as follows:

	June 30, 2013
(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	$	101	$	0	$	0		$	101
Mortgage-backed securities of U.S. Government Sponsored Entities		145,485		1,446		(3,866	)		143,065
Collateralized mortgage obligations of U.S. Government Sponsored Entities		406,894		1,084		(7,005	)		400,973
Private collateralized mortgage obligations		87,571		692		(1,073	)		87,190
Collateralized loan obligations		32,530		20		(23	)		32,527
Obligations of state and political subdivisions		7,093		380		(8	)		7,465
Other		1,500		3		(15	)		1,488
	$	681,174	$	3,625	$	(11,990	)	$	672,809

	December 31, 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	$	1,700	$	7	$	0		$	1,707
Mortgage-backed securities of U.S. Government Sponsored Entities		186,404		3,320		(469	)		189,255
Collateralized mortgage obligations of U.S. Government Sponsored Entities		352,731		2,430		(902	)		354,259
Private collateralized mortgage obligations		96,258		1,203		(530	)		96,931
Obligations of state and political subdivisions		847		51		0			898
	$	637,940	$	7,011	$	(1,901	)	$	643,050
SECURITIES HELD FOR INVESTMENT
Collateralized mortgage obligations of U.S. Government Sponsored Entities	$	4,687	$	0	$	(92	)	$	4,595
Private collateralized mortgage obligations		1,278		33		0			1,311
Obligations of state and political subdivisions		6,353		737		(3	)		7,087
Other		1,500		49		0			1,549
	$	13,818	$	819	$	(95	)	$	14,542

Amortized cost and fair value of securities by contractual maturity

The amortized cost and fair value of securities at June 30, 2013, by contractual maturity, are shown below.

	Available for Sale
(Dollars in thousands)	Amortized Cost		Fair Value
Due in less than one year	$	101	$	101
Due after one year through five years		817		836
Due after five years through ten years		1,249		1,267
Due after ten years		5,027		5,362
		7,194		7,566
Mortgage-backed securities of Government Sponsored Entities		145,485		143,065
Collateralized mortgage obligations of Government Sponsored Entities		406,894		400,973
Private collateralized mortgage obligations		87,571		87,190
Collateralized loan obligations		32,530		32,527
No contractual maturity		1,500		1,488
	$	681,174	$	672,809

Schedule of unrealized loss and fair value on investments

The tables below indicate the amount of securities with unrealized losses and period of time for which these losses were outstanding at June 30, 2013 and December 31, 2012, respectively.

	June 30, 2013
	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	$	81,251	$	(3,472	)	$	15,736	$	(394	)	$	96,987	$	(3,866	)
Collateralized mortgage obligations of U.S. Government Sponsored Entities		294,536		(6,291	)		39,561		(714	)		334,097		(7,005	)
Private collateralized mortgage obligations		46,425		(931	)		7,436		(142	)		53,861		(1,073	)
Collateralized loan obligations		12,615		(23	)		0		0			12,615		(23	)
Obligations of state and political subdivisions		1,015		(6	)		125		(2	)		1,140		(8	)
Other		485		(15	)		0		0			485		(15	)
Total temporarily impaired securities	$	436,327	$	(10,738	)	$	62,858	$	(1,252	)	$	499,185	$	(11,990	)
	December 31, 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	$	54,289	$	(469	)	$	0	$	0		$	54,289	$	(469	)
Collateralized mortgage obligations of U.S. Government Sponsored Entities		150,057		(901	)		4,593		(93	)		154,650		(994	)
Private collateralized mortgage obligations		29,969		(441	)		9,221		(89	)		39,190		(530	)
Obligations of state and political subdivisions		0		0			125		(3	)		125		(3	)
Total temporarily impaired securities	$	234,315	$	(1,811	)	$	13,939	$	(185	)	$	248,524	$	(1,996	)