Securities (Tables)

9 Months Ended

Sep. 30, 2013

Investments Debt And Equity 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 September 30, 2013 and December 31, 2012 are summarized as follows:

	September 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		136,184		1,534		(3,676	)		134,042
Collateralized mortgage obligations of U.S. Government Sponsored Entities		385,832		835		(10,144	)		376,523
Private mortgage backed securities		29,754		0		(642	)		29,112
Private collateralized mortgage obligations		70,845		903		(297	)		71,451
Collateralized loan obligations		32,560		0		(226	)		32,334
Obligations of state and political subdivisions		6,586		304		(8	)		6,882
	$	661,862	$	3,576	$	(14,993	)	$	650,445

	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 September 30, 2013, by contractual maturity, are shown below.  

	Available for Sale
	Amortized		Fair
(Dollars in thousands)	Cost		Value
Due in less than one year	$	101	$	101
Due after one year through five years		818		833
Due after five years through ten years		743		762
Due after ten years		5,025		5,287
		6,687		6,983
Mortgage-backed securities of Government Sponsored Entities		136,184		134,042
Collateralized mortgage obligations of Government Sponsored Entities		385,832		376,523
Private mortgage backed securities		29,754		29,112
Private collateralized mortgage obligations		70,845		71,451
Collateralized loan obligations		32,560		32,334
No contractual maturity		0		0
	$	661,862	$	650,445

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 September 30, 2013 and December 31, 2012, respectively.

	September 30, 2013
	Less than 12 months					12 months or longer					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
(Dollars in thousands)	Value		Losses			Value		Losses			Value		Losses
Mortgage-backed securities of U.S. Government Sponsored Entities	$	67,243	$	(3,451	)	$	14,719	$	(225	)	$	81,962	$	(3,676	)
Collateralized mortgage obligations of U.S. Government Sponsored Entities		291,428		(9,590	)		37,191		(554	)		328,619		(10,144	)
Private mortage backed securities		29,112		(642	)		0		0			29,112		(642	)
Private collaterlized mortgage obligations		42,432		(297	)		0		0			42,432		(297	)
Collateralized loan obligations		27,334		(226	)		0		0			27,334		(226	)
Obligations of state and political subdivisions		510		(6	)		125		(2	)		635		(8	)
Total temporarily impaired securities	$	458,059	$	(14,212	)	$	52,035	$	(781	)	$	510,094	$	(14,993	)
	December 31, 2012
	Less than 12 months					12 months or longer					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
(Dollars in thousands)	Value		Losses			Value		Losses			Value		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	)	$	248,254	$	(1,996	)