Securities (Tables)

12 Months Ended

Dec. 31, 2013

Securities [Abstract]

Schedule of amortized cost and estimated fair value of investments in debt securities

The amortized cost and estimated fair value of investments in debt securities at December 31, 2013 and 2012 were as follows:

	December 31, 2013
(in thousands)	Amortized		Unrealized		Unrealized		Estimated
	Cost		Gains		Losses		Fair Value
Securities available for sale:
Federal agencies and GSEs	$	66,241	$	126	$	486	$	65,881
Mortgage-backed and CMOs		69,168		1,085		645		69,608
State and municipal		193,251		5,999		517		198,733
Corporate		10,959		4		164		10,799
Equity securities		1,000		103		-		1,103
Total securities available for sale	$	340,619	$	7,317	$	1,812	$	346,124

	December 31, 2012
	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Securities available for sale:
Federal agencies and GSEs	$	42,458	$	306	$	5	$	42,759
Mortgage-backed and CMOs		81,585		1,829		106		83,308
State and municipal		189,810		12,935		14		202,731
Corporate		6,317		131		-		6,448
Total securities available for sale	$	320,170	$	15,201	$	125	$	335,246

Amortized cost and estimated fair value of investments in securities by contractual maturity

The amortized cost and estimated fair value of investments in securities at December 31, 2013, by contractual maturity, are shown in the following table.  Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.  Because mortgage-backed securities have both known principal repayment terms as well as unknown principal repayments due to potential borrower pre-payments, it is difficult to accurately predict the final maturity of these investments.  Mortgage-backed securities are shown separately.

	Available for Sale
(in thousands)	Amortized Cost		Estimated Fair Value
Due in one year or less	$	7,737		7,782
Due after one year through five years		140,272		142,014
Due after five years through ten years		98,991		101,691
Due after ten years		23,451		23,926
Mortgage-backed and CMOs		69,168		69,608
Equity securities		1,000		1,103
	$	340,619	$	346,124

Gross realized gains and losses

Gross realized gains and losses from the call of certain securities or the sale of securities available for sale were as follows (in thousands):

	For the Years Ended December 31,
	2013				2012				2011
Realized gains		$	229			$	193			$	47
Realized losses			(37	)			(35	)			(48	)
Other-than-temporary impairment			-				-				-

Schedule of available for sale securities, continuous unrealized loss position

	Total				Less than 12 Months				12 Months or More
(in thousands)	Estimated Fair Value		Unrealized Loss		Estimated Fair Value		Unrealized Loss		Estimated Fair Value		Unrealized Loss
Federal agencies and GSEs	$	41,586	$	486	$	41,586	$	486	$	-	$	-
Mortgage-backed and CMOs		23,916		645		19,042		577		4,874		68
State and municipal		33,192		517		29,732		462		3,460		55
Corporate		7,347		164		7,347		164		-		-
Total	$	106,041	$	1,812	$	97,707	$	1,689	$	8,334	$	123

The table below shows gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities had been in a continuous unrealized loss position, at December 31, 2012.

	Total				Less than 12 Months				12 Months or More
(in thousands)	Estimated Fair Value		Unrealized Loss		Estimated Fair Value		Unrealized Loss		Estimated Fair Value		Unrealized Loss
Federal agencies and GSEs	$	5,501	$	5	$	5,501	$	5	$	-	$	-
Mortgage-backed and CMOs		16,353		106		12,941		42		3,412		64
State and municipal		4,329		14		4,329		14		-		-
Total	$	26,183	$	125	$	22,771	$	61	$	3,412	$	64