Securities (Tables)

12 Months Ended

Dec. 31, 2012

Investments, Debt and Equity Securities [Abstract]

Amortized Cost, Gross Unrealized Gains and Losses and Fair Values of Securities Available for Sale

The amortized cost, gross unrealized gains and losses and fair values of securities at December 31, 2012 and 2011 follows:

	At December 31, 2012
	Amortized  Cost		Unrealized Gains		Unrealized Losses			Fair Value
	(Dollars in thousands)
Securities available for sale:
U.S. Government agencies and corporations	$	36,868	$	102	$	—		$	36,970
Mortgage backed securities	109,440		2,589		(328		)	111,701
Collateralized mortgage obligations	22,483		398		—			22,881
State and political subdivisions	29,980		2,241		(10		)	32,211
Total Securities	$	198,771	$	5,330	$	(338	)	$	203,763
	At December 31, 2011
	Amortized  Cost		Unrealized Gains		Unrealized Losses			Fair Value
	(Dollars in thousands)
Securities available for sale:
U.S. Government agencies and corporations	$	56,762	$	120	$	(1	)	$	56,881
Mortgage backed securities	103,624		3,705		(292		)	107,037
Collateralized mortgage obligations	29,537		700		—			30,237
State and political subdivisions	30,000		1,901		(44		)	31,857
Total Securities	$	219,923	$	6,426	$	(337	)	$	226,012

Amortized Cost and Fair Value of the Debt Securities Portfolio are Shown by Expected Maturity

Mortgage backed securities are not due at a single maturity date and are therefore shown separately.

	At December 31, 2012
	Amortized Cost		Fair Value
	(Dollars in thousands)
Securities available for sale:
Due in one year or less	$	23,719	$	23,772
Due from one year to five years	25,167		25,881
Due from five years to ten years	11,349		12,425
Due after ten years	6,613		7,103
Mortgage backed securities and collateralized mortgage obligations	131,923		134,582
	$	198,771	$	203,763

Realized Gains and Losses Related to Securities Available-for-Sale

Gains or losses on the sales of available-for-sale securities are recognized upon sale and are determined using the specific identification method.

	December 31,
	2012		2011		2010
	(Dollars in thousands)
Gross realized gains	$	189	$	832	$	393
Gross realized losses	—		—		—
Net Securities Gains	$	189	$	832	$	393
Proceeds from the sale of available for sale securities	$	25,462	$	36,427	$	15,499

Summary of Securities that had Unrealized Losses

The Corporation has the intent and the ability to hold these securities until their value recovers, which may be until maturity.

	At December 31, 2012
	Less than 12 months					12 months or longer				Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(Dollars in thousands)
Mortgage backed securities	$	44,491	$	(328	)	$	—	$	—	$	44,491	(328		)
State and political subdivisions	1,062		(10		)	—		—		1,062		(10		)
Total	$	45,553	$	(338	)	$	—	$	—	$	45,553	$	(338	)
	At December 31, 2011
	Less than 12 months					12 months or longer				Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(Dollars in thousands)
U.S. Government agencies and corporations	$	9,999	$	(1	)	$	—	$	—	$	9,999	$	(1	)
Mortgage backed securities	25,606		(292		)	—		—		25,606		(292		)
State and political subdivisions	3,669		(44		)	—		—		3,669		(44		)
Total	$	39,274	$	(337	)	$	—	$	—	$	39,274	$	(337	)