Securities (Tables)

9 Months Ended

Sep. 30, 2012

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


	September 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	$	25,857	$	1,009	$	4	$	26,862
Residential mortgage-backed securities:
Government-sponsored agencies		150,233		3,741		453		153,521
Nongovernment-sponsored agencies		21,199		712		290		21,621
State and political subdivisions		10,176		57		56		10,177
Corporate debt securities		1,955		29		74		1,910
Total taxable debt securities		209,420		5,548		877		214,091
Tax-exempt debt securities:
State and political subdivisions		70,678		4,358		70		74,966
Residential mortgage-backed securities:
Government-sponsored agencies		2,858		-		-		2,858
Total tax-exempt debt securities		73,536		4,358		70		77,824
Equity securities		77		-		-		77
Total available for sale securities	$	283,033	$	9,906	$	947	$	291,992


				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


				September 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	$	8,351	$	494	$	-	$	8,845
Residential mortgage-backed securities:
Government-sponsored agencies		153,271		3,974		521		156,724
Nongovernment-sponsored agencies		40,946		1,072		1,738		40,280
State and political subdivisions		4,561		23		5		4,579
Corporate debt securities		999		-		152		847
Total taxable debt securities		208,128		5,563		2,416		211,275
Tax-exempt debt securities:
State and political subdivisions		78,179		3,102		191		81,090
Total tax-exempt debt securities		78,179		3,102		191		81,090
Equity securities		77		-		-		77
Total available for sale securities	$	286,384	$	8,665	$	2,607	$	292,442

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	$	77,442	$	78,853
Due from one to five years		92,630		94,923
Due from five to ten years		13,905		14,539
Due after ten years		98,979		103,600
Equity securities		77		77
	$	283,033	$	291,992

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	$	64,567	$	4,056	$	47,584	$	3,085	$	840

Summary Of Other-Than-Temporary Impairment Losses On Securities


		Three Months Ended						Nine Months Ended
In thousands		2012			2011			2012			2011

Total other-than-temporary impairment losses	$	(233	)	$	(1,684	)	$	(1,115	)	$	(4,815	)
Portion of loss recognized in
other comprehensive income		194			1,200			740			2,570
Net impairment losses recognized in earnings	$	(39	)	$	(484	)	$	(375	)	$	(2,245	)

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			Nine Months Ended
		September 30, 2012			September 30, 2012

In thousands		Total			Total
Beginning Balance	$	(5,900	)	$	(6,355	)
Additions for the credit component on debt securities in which
other-than-temporary impairment was not previously recognized		(39	)		(375	)
Securities sold during the period		-			791
Ending Balance	$	(5,939	)	$	(5,939	)

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	12.2	%	10.1	%	14.1	%
Constant default rates	4.9	%	4.6	%	5.2	%
Loss severities	45.5	%	40.0	%	52.0	%

Summary Of Securities Available For Sale In Unrealized Loss Position


							September 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	$	1,413	$	(4	)	$	-		$	-		$	1,413	$	(4	)
Residential mortgage-backed securities:
Government-sponsored agencies		35,490		(395	)		7,256			(58	)		42,746		(453	)
Nongovernment-sponsored entities		1		(4	)		3,013			(67	)		3,014		(71	)
State and political subdivisions		3,370		(52	)		386			(4	)		3,756		(56	)
Corporate debt securities		-		-			925			(74	)		925		(74	)
Tax-exempt debt securities
State and political subdivisions		8,192		(70	)		-			-			8,192		(70	)
Total temporarily impaired securities		48,466		(525	)		11,580			(203	)		60,046		(728	)
Other-than-temporarily impaired securities
Taxable debt securities
Residential mortgage-backed securities:
Nongovernment-sponsored entities		-		-			703			(219	)		703		(219	)
Total other-than-temporarily
impaired securities		-		-			703			(219	)		703		(219	)
Total	$	48,466	$	(525	)	$	12,283	$		(422	)	$	60,749	$	(947	)


	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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-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.

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

-Publisher FASB

-Name Accounting Standards Codification

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-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

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+ 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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