Investment Securities (Tables)

9 Months Ended

Sep. 30, 2014

Investment Securities [Abstract]

Available-for-sale Investment Securities

The portfolio of investment securities consisted of the following (in thousands):

	September 30, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale:
U.S. Government sponsored enterprises	$	10,418	$	-	$	126	$	10,292
Obligations of state and political subdivisions		48,053		1,820		26		49,847
GSE mortgage-backed securities		110,482		2,787		623		112,646
Collateralized mortgage obligations: residential		64,946		299		1,872		63,373
Collateralized mortgage obligations: commercial		25,803		308		117		25,994
Other asset-backed securities		24,406		411		-		24,817
Collateralized debt obligation		464		964		-		1,428
	$	284,572	$	6,589	$	2,764	$	288,397

	December 31, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale:
U.S. Government sponsored enterprises	$	11,455	$	1	$	191	$	11,265
Obligations of state and political subdivisions		57,925		2,296		243		59,978
GSE mortgage-backed securities		146,129		2,029		2,193		145,965
Collateralized mortgage obligations: residential		73,569		212		2,894		70,887
Collateralized mortgage obligations: commercial		27,082		416		152		27,346
Other asset-backed securities		25,204		351		66		25,489
Collateralized debt obligation		464		271		-		735
	$	341,828	$	5,576	$	5,739	$	341,665

Held-to-maturity Securities

	September 30, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Held-to-maturity:
Obligations of state and political subdivisions	$	46,608	$	203	$	324	$	46,487
GSE mortgage-backed securities		69,886		715		412		70,189
Collateralized mortgage obligations: residential		13,106		-		547		12,559
Collateralized mortgage obligations: commercial		15,430		49		117		15,362
	$	145,030	$	967	$	1,400	$	144,597

	December 31, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Held-to-maturity:
Obligations of state and political subdivisions	$	47,377	$	38	$	2,586	$	44,829
GSE mortgage-backed securities		78,272		148		1,079		77,341
Collateralized mortgage obligations: residential		14,189		-		979		13,210
Collateralized mortgage obligations: commercial		15,685		103		-		15,788
	$	155,523	$	289	$	4,644	$	151,168

Amortized Cost and Fair Value of Debt Securities by Contractual Maturity

Expected maturities may differ from contractual maturities for mortgage-backed securities and CMOs because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Amortized Cost		Fair Value
Available-for-sale:
Due in one year or less	$	8,533	$	8,625
Due after one year through five years		32,867		33,763
Due after five years through ten years		13,969		14,631
Due after ten years		3,102		3,120
Other asset-backed securities		24,406		24,817
Mortgage-backed securities and collateralized mortgage obligations:
Residential		175,428		176,019
Commercial		25,803		25,994
Collateralized debt obligation		464		1,428
	$	284,572	$	288,397

	Amortized Cost		Fair Value
Held-to-maturity:
Due in one year or less	$	106	$	105
Due after one year through five years		3,105		3,130
Due after five years through ten years		7,829		7,787
Due after ten years		35,568		35,465
Mortgage-backed securities and collateralized mortgage obligations:
Residential		82,992		82,748
Commercial		15,430		15,362
	$	145,030	$	144,597

Investment Securities with Unrealized Losses

Details concerning investment securities with unrealized losses are as follows (in thousands):

	September 30, 2014
	Securities with losses under 12 months				Securities with losses over 12 months				Total
	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
Available-for-sale:
U.S. Government sponsored enterprises	$	-	$	-	$	10,292	$	126	$	10,292	$	126
Obligations of state and  political subdivisions		-		-		3,739		26		3,739		26
GSE mortgage-backed  securities		10,873		68		32,344		555		43,217		623
Collateralized mortgage  obligations: residential		4,483		16		43,689		1,856		48,172		1,872
Collateralized mortgage  obligations: commercial		-		-		3,952		117		3,952		117
	$	15,356	$	84	$	94,016	$	2,680	$	109,372	$	2,764

	December 31, 2013
	Securities with losses under 12 months				Securities with losses over 12 months				Total
	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
Available-for-sale:
U.S. Government sponsored enterprises	$	10,463	$	191	$	-	$	-	$	10,463	$	191
Obligations of state and  political subdivisions		4,256		243		-		-		4,256		243
GSE mortgage-backed  securities		68,028		2,193		-		-		68,028		2,193
Collateralized mortgage  obligations: residential		56,975		2,563		4,371		331		61,346		2,894
Collateralized mortgage  obligations: commercial		4,282		152		-		-		4,282		152
Other asset-backed securities		13,099		66		-		-		13,099		66
	$	157,103	$	5,408	$	4,371	$	331	$	161,474	$	5,739

	September 30, 2014
	Securities with losses under 12 months				Securities with losses over 12 months				Total
	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
Held-to-maturity:
Obligations of state and political subdivisions	$	7,808	$	43	$	21,085	$	281	$	28,893	$	324
GSE mortgage-backed securities		-		-		28,591		412		28,591		412
Collateralized mortgage obligations: residential		-		-		12,559		547		12,559		547
Collateralized mortgage obligations: commercial		7,772		117		-		-		7,772		117
	$	15,580	$	160	$	62,235	$	1,240	$	77,815	$	1,400

	December 31, 2013
	Securities with losses under 12 months				Securities with losses over 12 months				Total
	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
Held-to-maturity:
Obligations of state and political subdivisions	$	42,246	$	2,569	$	685	$	17	$	42,931	$	2,586
GSE mortgage-backed securities		31,042		1,079		-		-		31,042		1,079
Collateralized mortgage obligations: residential		13,210		979		-		-		13,210		979
	$	86,498	$	4,627	$	685	$	17	$	87,183	$	4,644