Securities (Tables)

12 Months Ended

Dec. 31, 2011

Securities [Abstract]

Amortized cost, estimated fair value, and unrealized gains and losses of securities available for sale

The amortized cost, estimated fair value, and unrealized gains and losses of securities available for sale are as follows:

(In thousands)	Amortized cost		Unrealized gains		Unrealized losses		Estimated fair value
December 31, 2011
U.S. Treasury	$	81,006	$	1,228	$	-	$	82,234
Federal Agency		254,983		879		16		255,846
State & municipal		99,176		5,624		11		104,789
Mortgage-backed		310,767		14,629		-		325,396
Collateralized mortgage obligations		459,067		6,458		51		465,474
Corporate		-		-		-		-
Other securities		8,935		2,021		76		10,880
Total securities available for sale	$	1,213,934	$	30,839	$	154	$	1,244,619
December 31, 2010
U.S. Treasury	$	91,338	$	424	$	482	$	91,280
Federal Agency		350,641		1,905		2,796		349,750
State & municipal		113,821		1,771		655		114,937
Mortgage-backed		233,861		11,666		719		244,808
Collateralized mortgage obligations		293,565		6,574		2,251		297,888
Corporate		20,005		484		-		20,489
Other securities		8,059		2,162		5		10,216
Total securities available for sale	$	1,111,290	$	24,986	$	6,908	$	1,129,368

Schedule of sales transactions of securities available for sale

The following table sets forth information with regard to sales transactions of securities available for sale:

	Years ended December 31
(In thousands)	2011			2010			2009
Proceeds from sales	$	2,437		$	103,253		$	2,753
Gross realized gains	$	7		$	3,170		$	154
Gross realized losses		(165	)		(25	)		(49	)
Net securities (losses) gains	$	(158	)	$	3,145		$	105

Schedule of securities held to maturity

The amortized cost, estimated fair value, and unrealized gains and losses of securities held to maturity are as follows:

	Amortized		Unrealized		Unrealized		Estimated
(In thousands)	cost		gains		losses		fair value
December 31, 2011
Mortgage-backed	$	1,447	$	213	$	-	$	1,660
State & municipal		69,364		1,174		-		70,538
Total securities held to maturity	$	70,811	$	1,387	$	-	$	72,198
December 31, 2010
Mortgage-backed	$	1,719	$	200	$	-	$	1,919
State & municipal		95,591		1,249		-		96,840
Total securities held to maturity	$	97,310	$	1,449	$	-	$	98,759

Schedule of investment securities with unrealized losses

The following table sets forth information with regard to investment securities with unrealized losses at December 31, 2011 and 2010, segregated according to the length of time the securities had been in a continuous unrealized loss position:

	Less than 12 months							12 months or longer							Total
Security Type:	Fair Value		Unrealized losses			Number of Positions		Fair Value		Unrealized losses			Number of Positions		Fair Value		Unrealized losses			Number of Positions
December 31, 2011
U.S. Treasury	$	-	$	-			-	$	-	$	-			-	$	-	$	-			-
Federal agency		34,996		(16	)		3		-		-			-		34,996		(16	)		3
State & municipal		957		(10	)		3		377		(1	)		2		1,334		(11	)		5
Mortgage-backed		-		-			-		-		-			-		-		-			-
Collateralized mortgage obligations		27,368		(51	)		3		-		-			-		27,368		(51	)		3
Other securities		645		(76	)		2		-		-			-		645		(76	)		2
Total securities with unrealized losses	$	63,966	$	(153	)		11	$	377	$	(1	)		2	$	64,343	$	(154	)		13
December 31, 2010
U.S. Treasury	$	40,741	$	(482	)		4	$	-	$	-			-	$	40,741	$	(482	)		4
Federal agency		147,012		(2,796	)		12		-		-			-		147,012		(2,796	)		12
State & municipal		22,273		(317	)		31		7,533		(338	)		19		29,806		(655	)		50
Mortgage-backed		44,340		(719	)		3		-		-			-		44,340		(719	)		3
Collateralized mortgage obligations		72,595		(2,251	)		3		-		-			-		72,595		(2,251	)		3
Other securities		95		(5	)		1		-		-			-		95		(5	)		1
Total securities with unrealized losses	$	327,056	$	(6,570	)		54	$	7,533	$	(338	)		19	$	334,589	$	(6,908	)		73

Schedule of contractual maturities of debt securities

The following tables set forth information with regard to contractual maturities of debt securities at December 31, 2011:

(In thousands)	Amortized cost		Estimated fair value
Debt securities classified as available for sale
Within one year	$	23,867	$	23,941
From one to five years		302,772		305,366
From five to ten years		245,058		254,864
After ten years		633,302		649,568
	$	1,204,999	$	1,233,739
Debt securities classified as held to maturity
Within one year	$	26,315	$	26,383
From one to five years		34,032		35,058
From five to ten years		7,073		7,153
After ten years		3,391		3,604
	$	70,811	$	72,198