Securities (Tables)

6 Months Ended

Jun. 30, 2012

Summary Of Amortized Cost, Unrealized Gains, Unrealized Losses And Estimated Fair Values Of Securities


				June 30, 2012
		Amortized		Unrealized				Estimated
Dollars in thousands		Cost		Gains		Losses		Fair Value
Available for Sale
Taxable debt securities:
U. S. Government agencies
and corporations	$	18,000	$	665	$	2	$	18,663
Residential mortgage-backed securities:
Government-sponsored agencies		157,618		3,846		297		161,167
Nongovernment-sponsored agencies		23,188		550		477		23,261
State and political subdivisions		8,672		27		43		8,656
Corporate debt securities		1,951		16		127		1,840
Total taxable debt securities		209,429		5,104		946		213,587
Tax-exempt debt securities:
State and political subdivisions		69,036		3,733		251		72,518
Residential mortgage-backed securities:
Government-sponsored agencies		2,969		-		-		2,969
Total tax-exempt debt securities		72,005		3,733		251		75,487
Equity securities		77		-		-		77
Total available for sale securities	$	281,511	$	8,837	$	1,197	$	289,151


				December 31, 2011
		Amortized		Unrealized				Estimated
Dollars in thousands		Cost		Gains		Losses		Fair Value
Available for Sale
Taxable debt securities
U. S. Government agencies
and corporations	$	8,262	$	495	$	10	$	8,747
Residential mortgage-backed securities:
Government-sponsored agencies		152,815		3,460		770		155,505
Nongovernment-sponsored entities		35,246		742		1,560		34,428
State and political subdivisions		4,559		16		4		4,571
Corporate debt securities		999		-		182		817
Total taxable debt securities		201,881		4,713		2,526		204,068
Tax-exempt debt securities
State and political subdivisions		75,371		3,986		31		79,326
Residential mortgage-backed securities		3,109		19		-		3,128
Total tax-exempt debt securities		78,480		4,005		31		82,454
Equity securities		77		-		-		77
Total available for sale securities	$	280,438	$	8,718	$	2,557	$	286,599


				June 30, 2011
		Amortized		Unrealized				Estimated
Dollars in thousands		Cost		Gains		Losses		Fair Value
Available for Sale
Taxable debt securities:
U. S. Government agencies
and corporations	$	14,749	$	303	$	102	$	14,950
Residential mortgage-backed securities:
Government-sponsored agencies		147,619		3,288		296		150,611
Nongovernment-sponsored agencies		44,101		1,459		1,523		44,037
State and political subdivisions		12,411		30		284		12,157
Corporate debt securities		999		-		53		946
Total taxable debt securities		219,879		5,080		2,258		222,701
Tax-exempt debt securities:
State and political subdivisions		72,439		1,151		562		73,028
Total tax-exempt debt securities		72,439		1,151		562		73,028
Equity securities		77		-		-		77
Total available for sale securities	$	292,395	$	6,231	$	2,820	$	295,806

Summary Of Maturities, Amortized Cost And Estimated Fair Values Of Securities


		Available for Sale
		Amortized		Estimated
Dollars in thousands		Cost		Fair Value
Due in one year or less	$	75,249	$	76,316
Due from one to five years		99,177		101,506
Due from five to ten years		17,252		17,836
Due after ten years		89,756		93,416
Equity securities		77		77
	$	281,511	$	289,151

Summary Of Proceeds From Sales, Calls And Maturities, Principal Payments, Gains And Losses Of Available For Sale Securities


				Calls and		Principal
Dollars in thousands		Sales		Maturities		Payments		Gains		Losses

Securities available for sale	$	51,798	$	2,736	$	29,943	$	2,325	$	840

Summary Of Other-Than-Temporary Impairment Losses On Securities


		Three Months Ended June 30,						Six Months Ended
In thousands		2012			2011			2012			2011

Total other-than-temporary impairment losses	$	(370	)	$	(1,304	)	$	(882	)	$	(3,131	)
Portion of loss recognized in
other comprehensive income		264			771			547			1,370
Net impairment losses recognized in earnings	$	(106	)	$	(533	)	$	(335	)	$	(1,761	)

Summary Of Activity Related To The Credit Component Recognized On Debt Securities Available For Sale Of Other-Than-Temporary Impairment Recognized In Other Comprehensive Income


		Three Months Ended			Six Months Ended
		June 30, 2012			June 30, 2012

In thousands		Total			Total
Beginning Balance	$	(6,584	)	$	(6,355	)
Additions for the credit component on debt securities in which
other-than-temporary impairment was not previously recognized		(106	)		(335	)
Securities sold during the period		790			790
Ending Balance	$	(5,900	)	$	(5,900	)

Summary Of Assumptions Utilized In Valuation Of Other-Than-Temporarily Impaired Residential Mortgage-Backed Securities Issued By Nongovernment-Sponsored Entities


	Weighted		Range
	Average		Minimum		Maximum
Constant voluntary prepayment rates	8.4	%	1.6	%	11.1	%
Constant default rates	5.3	%	4.2	%	7.9	%
Loss severities	47.4	%	40.0	%	52.0	%

Summary Of Securities Available For Sale In Unrealized Loss Position


							June 30, 2012
		Less than 12 months					12 months or more					Total
		Estimated		Unrealized			Estimated		Unrealized			Estimated		Unrealized
Dollars in thousands		Fair Value		Loss			Fair Value		Loss			Fair Value		Loss
Temporarily impaired securities
Taxable debt securities
U. S. Government agencies
and corporations	$	1,012	$	(2	)	$	115	$	-		$	1,127	$	(2	)
Residential mortgage-backed securities:
Government-sponsored agencies		43,087		(233	)		3,081		(64	)		46,168		(297	)
Nongovernment-sponsored entities		3,377		(87	)		1,447		(70	)		4,824		(157	)
State and political subdivisions		2,424		(39	)		386		(4	)		2,810		(43	)
Corporate debt securities		-		-			872		(127	)		872		(127	)
Tax-exempt debt securities
State and political subdivisions		17,029		(251	)		-		-			17,029		(251	)
Total temporarily impaired securities		66,929		(612	)		5,901		(265	)		72,830		(877	)
Other-than-temporarily impaired securities
Taxable debt securities
Residential mortgage-backed securities:
Nongovernment-sponsored entities		111		(75	)		1,743		(245	)		1,854		(320	)
Total other-than-temporarily
impaired securities		111		(75	)		1,743		(245	)		1,854		(320	)
Total	$	67,040	$	(687	)	$	7,644	$	(510	)	$	74,684	$	(1,197	)


							December 31, 2011
		Less than 12 months					12 months or more					Total
		Estimated		Unrealized			Estimated		Unrealized			Estimated		Unrealized
Dollars in thousands		Fair Value		Loss			Fair Value		Loss			Fair Value		Loss
Temporarily impaired securities
Taxable debt securities
U. S. Government agencies
and corporations	$	1,074	$	(10	)	$	120	$	-		$	1,194	$	(10	)
Residential mortgage-backed securities:
Government-sponsored agencies		55,678		(770	)		-		-			55,678		(770	)
Nongovernment-sponsored entities		5,558		(158	)		4,245		(239	)		9,803		(397	)
State and political subdivisions		-		-			-		-			-		-
Corporate debt securities		-		-			817		(182	)		817		(182	)
Tax-exempt debt securities
State and political subdivisions		1,418		(29	)		1,132		(6	)		2,550		(35	)
Total temporarily impaired securities		63,728		(967	)		6,314		(427	)		70,042		(1,394	)
Other-than-temporarily impaired securities
Taxable debt securities
Residential mortgage-backed securities:
Nongovernment-sponsored entities		466		(261	)		5,638		(902	)		6,104		(1,163	)
Total other-than-temporarily
impaired securities		466		(261	)		5,638		(902	)		6,104		(1,163	)
Total	$	64,194	$	(1,228	)	$	11,952	$	(1,329	)	$	76,146	$	(2,557	)

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-Name Emerging Issues Task Force (EITF)

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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Reference 8: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563

+ Details

- Definition

Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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