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5. Securities (Tables)

3 Months Ended

Mar. 31, 2014

Available-for-sale Securities [Abstract]

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

		March 31, 2014
		Amortized				Unrealized								Estimated
Dollars in thousands		Cost				Gains				Losses				Fair Value
Available for Sale
Taxable debt securities
U. S. Government agencies
and corporations		$	27,658			$	736			$	78			$	28,316
Residential mortgage-backed securities:
Government-sponsored agencies			142,644				2,230				1,060				143,814
Nongovernment-sponsored entities			10,429				377				19				10,787
State and political subdivisions
General obligations			5,681				7				209				5,479
Water and sewer revenues			2,389				8				60				2,337
Other revenues			3,021				-				106				2,915
Corporate debt securities			3,977				25				4				3,998
Total taxable debt securities			195,799				3,383				1,536				197,646
Tax-exempt debt securities
State and political subdivisions
General obligations			45,761				1,109				504				46,366
Water and sewer revenues			14,033				64				110				13,987
Lease revenues			9,079				47				168				8,958
Lottery/casino revenues			4,428				102				79				4,451
Other revenues			10,334				115				69				10,380
Total tax-exempt debt securities			83,635				1,437				930				84,142
Equity securities			77				-				-				77
Total available for sale securities		$	279,511			$	4,820			$	2,466			$	281,865

		December 31, 2013
		Amortized				Unrealized								Estimated
Dollars in thousands		Cost				Gains				Losses				Fair Value
Available for Sale
Taxable debt securities
U. S. Government agencies
and corporations		$	29,100			$	675			$	118			$	29,657
Residential mortgage-backed securities:
Government-sponsored agencies			155,270				2,019				1,573				155,716
Nongovernment-sponsored entities			11,519				321				21				11,819
State and political subdivisions
General obligations			9,317				-				475				8,842
Water and sewer revenues			3,229				-				114				3,115
Other revenues			4,051				4				142				3,913
Corporate debt securities			3,973				24				31				3,966
Total taxable debt securities			216,459				3,043				2,474				217,028
Tax-exempt debt securities
State and political subdivisions
General obligations			41,156				675				1,154				40,677
Water and sewer revenues			8,996				15				306				8,705
Lease revenues			7,956				-				391				7,565
Lottery/casino revenues			4,443				63				169				4,337
Other revenues			10,527				55				191				10,391
Total tax-exempt debt securities			73,078				808				2,211				71,675
Equity securities			77				-				-				77
Total available for sale securities		$	289,614			$	3,851			$	4,685			$	288,780

		March 31, 2013
		Amortized				Unrealized								Estimated
Dollars in thousands		Cost				Gains				Losses				Fair Value
Available for Sale
Taxable debt securities:
U. S. Government agencies
and corporations		$	30,782			$	1,035			$	-			$	31,817
Residential mortgage-backed securities:
Government-sponsored agencies			142,534				3,444				647				145,331
Nongovernment-sponsored agencies			13,691				483				83				14,091
State and political subdivisions			13,889				122				93				13,918
Corporate debt securities			2,962				33				18				2,977
Total taxable debt securities			203,858				5,117				841				208,134
Tax-exempt debt securities:
State and political subdivisions			68,945				3,527				271				72,201
Residential mortgage-backed securities:
Government-sponsored agencies			2,642				-				-				2,642
Total tax-exempt debt securities			71,587				3,527				271				74,843
Equity securities			77				-				-				77
Total available for sale securities		$	275,522			$	8,644			$	1,112			$	283,054

Summary Of Volume of State and Political Subdivision Securities Held in Portfolio

		March 31, 2014
		Amortized				Unrealized								Estimated
Dollars in thousands		Cost				Gains				Losses				Fair Value

California		$	16,625			$	207			$	119			$	16,713
West Virginia			13,642				203				109				13,736
Illinois			9,392				75				238				9,229
Texas			6,262				313				78				6,497
Pennsylvania			5,906				25				71				5,860

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		$	51,630			$	52,344
Due from one to five years			95,253				96,145
Due from five to ten years			33,742				34,102
Due after ten years			98,809				99,197
Equity securities			77				77
		$	279,511			$	281,865

Summary of Proceeds From Sales, Calls and Maturities, Principal Payments, Gains and Losses of Available for Sale Securities

		Proceeds from												Gross realized
						Calls and				Principal
Dollars in thousands		Sales				Maturities				Payments				Gains				Losses

Securities available for sale		$	18,157			$	2,051			$	8,782			$	370			$	392

Summary of Other-Than-Temporary Impairment Losses on Securities

		Three Months Ended March 31,
Dollars in thousands		2014				2013

Total other-than-temporary impairment losses		$	-			$	(91	)
Portion of loss recognized in
other comprehensive income			-				37
Net impairment losses recognized in earnings		$	-			$	(54	)

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
		March 31, 2014

Dollars in thousands		Total
Beginning Balance		$	(3,021	)
Additions for the credit component on debt securities in which
other-than-temporary impairment was not previously recognized			-
Securities sold during the period			-
Ending Balance		$	(3,021	)

Summary Of Securities Available For Sale In Unrealized Loss Position

		March 31, 2014
		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		$	7,256			$	(78	)		$	-			$	-			$	7,256			$	(78	)
Residential mortgage-backed securities:
Government-sponsored agencies			33,536				(763	)			12,566				(297	)			46,102				(1,060	)
Nongovernment-sponsored entities			2,162				(10	)			409				(7	)			2,571				(17	)
State and political subdivisions:
General obligations			4,026				(135	)			1,162				(74	)			5,188				(209	)
Water and sewer revenues			250				(6	)			1,577				(54	)			1,827				(60	)
Other revenues			2,915				(106	)			-				-				2,915				(106	)
Corporate debt securities			1,996				(4	)			-				-				1,996				(4	)
Tax-exempt debt securities
State and political subdivisions:
General obligations			17,901				(346	)			3,423				(158	)			21,324				(504	)
Water and sewer revenues			6,301				(85	)			432				(25	)			6,733				(110	)
Lease revenues			5,121				(65	)			2,083				(103	)			7,204				(168	)
Lottery/casino revenues			-				-				1,659				(79	)			1,659				(79	)
Other revenues			3,072				(69	)			-				-				3,072				(69	)
Total temporarily impaired securities			84,536				(1,667	)			23,311				(797	)			107,847				(2,464	)
Other-than-temporarily impaired securities
Taxable debt securities
Residential mortgage-backed securities:
Nongovernment-sponsored entities			-				(2	)			-				-				-				(2	)
Total other-than-temporarily impaired securities			-				(2	)			-				-				-				(2	)
Total		$	84,536			$	(1,669	)		$	23,311			$	(797	)		$	107,847			$	(2,466	)

		December 31, 2013
		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		$	10,868			$	(118	)		$	-			$	-			$	10,868			$	(118	)
Residential mortgage-backed securities:
Government-sponsored agencies			55,035				(1,385	)			13,249				(188	)			68,284				(1,573	)
Nongovernment-sponsored entities			2,407				(12	)			565				(7	)			2,972				(19	)
State and political subdivisions:
General obligations			4,505				(264	)			2,337				(211	)			6,842				(475	)
Water and sewer revenues			1,309				(31	)			1,554				(83	)			2,863				(114	)
Other revenues			3,142				(142	)			-				-				3,142				(142	)
Corporate debt securities			2,968				(31	)			-				-				2,968				(31	)
Tax-exempt debt securities
State and political subdivisions:
General obligations			19,603				(997	)			2,102				(157	)			21,705				(1,154	)
Water and sewer revenues			5,643				(224	)			983				(82	)			6,626				(306	)
Lease revenues			6,112				(349	)			958				(42	)			7,070				(391	)
Lottery/casino revenues			2,720				(132	)			554				(37	)			3,274				(169	)
Other revenues			8,815				(191	)			-				-				8,815				(191	)
Total temporarily impaired securities			123,127				(3,876	)			22,302				(807	)			145,429				(4,683	)
Other-than-temporarily impaired securities
Taxable debt securities
Residential mortgage-backed securities:
Nongovernment-sponsored entities			-				-				1				(2	)			1				(2	)
Total other-than-temporarily impaired securities			-				-				1				(2	)			1				(2	)
Total		$	123,127			$	(3,876	)		$	22,303			$	(809	)		$	145,430			$	(4,685	)

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.

+ References+ Details

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.

+ References+ Details