Investment Securities (Tables)

3 Months Ended

Mar. 31, 2013

Investment Securities

Schedule of amortized cost and fair value of investment securities held to maturity

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(Dollars in thousands)	Cost		Gains		Losses		Value
March 31, 2013:
State and municipal obligations	$	14,598	$	957	$	—	$	15,555
December 31, 2012:
State and municipal obligations	$	15,440	$	1,113	$	—	$	16,553
March 31, 2012:
State and municipal obligations	$	16,568	$	1,096	$	—	$	17,664

Schedule of amortized cost and fair value of investment securities available for sale

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
(Dollars in thousands)	Cost		Gains		Losses			Value
March 31, 2013:
Government-sponsored entities debt *	$	71,408	$	515	$	(121	)	$	71,802
State and municipal obligations	144,979		4,308		(391		)	148,896
Mortgage-backed securities **	283,348		6,585		(191		)	289,742
Corporate stocks	241		172		(1		)	412
	$	499,976	$	11,580	$	(704	)	$	510,852
December 31, 2012:
Government-sponsored entities debt *	$	87,584	$	965	$	(31	)	$	88,518
State and municipal obligations	147,201		5,647		(49		)	152,799
Mortgage-backed securities **	285,800		7,489		(102		)	293,187
Corporate stocks	241		139		(1		)	379
	$	520,826	$	14,240	$	(183	)	$	534,883
March 31, 2012:
Government-sponsored entities debt *	$	65,505	$	985	$	(112	)	$	66,378
State and municipal obligations	39,099		2,942		(33		)	42,008
Mortgage-backed securities **	208,564		5,301		(56		)	213,809
Corporate stocks	240		154		(1		)	393
	$	313,408	$	9,382	$	(202	)	$	322,588

* - Government-sponsored entities holdings are comprised of debt securities offered by Federal Home Loan Mortgage Corporation (“FHLMC”) or Freddie Mac, Federal National Mortgage Association (“FNMA”) or Fannie Mae, FHLB, and Federal Farm Credit Banks (“FFCB”).

** - All of the mortgage-backed securities are issued by government-sponsored entities; there are no private-label holdings.

Schedule of amortized cost and fair value of other investment securities

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(Dollars in thousands)	Cost		Gains		Losses		Value
March 31, 2013:
Federal Home Loan Bank stock	$	6,163	$	—	$	—	$	6,163
Investment in unconsolidated subsidiaries	1,642		—		—		1,642
	$	7,805	$	—	$	—	$	7,805
December 31, 2012:
Federal Home Loan Bank stock	$	8,126	$	—	$	—	$	8,126
Investment in unconsolidated subsidiaries	1,642		—		—		1,642
	$	9,768	$	—	$	—	$	9,768
March 31, 2012:
Federal Reserve Bank stock	$	7,028	$	—	$	—	$	7,028
Federal Home Loan Bank stock	9,932		—		—		9,932
Investment in unconsolidated subsidiaries	1,332		—		—		1,332
	$	18,292	$	—	$	—	$	18,292

Schedule of amortized cost and fair value of debt securities by contractual maturity

The amortized cost and fair value of debt securities at March 31, 2013 by contractual maturity are detailed below.

	Securities				Securities
	Held to Maturity				Available for Sale
	Amortized		Fair		Amortized		Fair
(Dollars in thousands)	Cost		Value		Cost		Value
Due in one year or less	$	1,924	$	1,955	$	3,946	$	3,981
Due after one year through five years	345		369		13,669		14,011
Due after five years through ten years	8,927		9,523		111,773		114,088
Due after ten years	3,402		3,708		370,588		378,772
	$	14,598	$	15,555	$	499,976	$	510,852

Schedule of securities with gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position

	Less Than Twelve Months				Twelve Months or More
	Gross				Gross
	Unrealized		Fair		Unrealized		Fair
(Dollars in thousands)	Losses		Value		Losses		Value
March 31, 2013:
Securities Held to Maturity
State and municipal obligations	$	—	$	—	$	—	$	—
Securities Available for Sale
Government-sponsored entities debt	$	121	$	27,852	$	—	$	—
State and municipal obligations	391		27,502		—		—
Mortgage-backed securities	191		26,765		—		—
Corporate Stocks	1		9		—		—
	$	704	$	82,128	$	—	$	—
December 31, 2012:
Securities Held to Maturity
State and municipal obligations	$	—	$	—	$	—	$	—
Securities Available for Sale
Government-sponsored entities debt	$	31	$	4,963	$	—	$	—
State and municipal obligations	49		9,602		—		—
Mortgage-backed securities	102		13,709		—		—
Corporate stocks	1		9		—		—
	$	183	$	28,283	$	—	$	—
March 31, 2012:
Securities Held to Maturity
State and municipal obligations	$	—	$	—	$	—	$	—
Securities Available for Sale
Government-sponsored entities debt	$	112	$	15,516	$	—	$	—
State and municipal obligations	18		381		15		486
Mortgage-backed securities	56		8,367		—		—
Corporate stocks	—		—		1		9
	$	186	$	24,264	$	16	$	495