Securities (Tables)

3 Months Ended

Mar. 31, 2014

Securities

Schedule of amortized cost, unrealized gains and losses, and fair value of securities available for sale

	Amortized		Unrealized
(in thousands)	cost		Gains		Losses		Fair value
March 31, 2014
U.S. Treasury and other U.S. government obligations	$	40,000	$	—	$	—	$	40,000
Government sponsored enterprise obligations	156,246		1,665		1,554		156,357
Mortgage-backed securities - government agencies	175,020		1,523		3,263		173,280
Obligations of states and political subdivisions	68,082		1,634		211		69,505
Corporate equity securities	756		286		—		1,042
Total securities available for sale	$	440,104	$	5,108	$	5,028	$	440,184

	Amortized		Unrealized
(in thousands)	cost		Gains		Losses		Fair value
December 31, 2013
U.S. Treasury and other U.S. government obligations	$	110,000	$	—	$	—	$	110,000
Government sponsored enterprise obligations	138,094		1,623		1,872		137,845
Mortgage-backed securities - government agencies	176,524		1,391		5,222		172,693
Obligations of states and political subdivisions	68,448		1,473		428		69,493
Total securities available for sale	$	493,066	$	4,487	$	7,522	$	490,031

Summary of securities based on contractual maturity

A summary of the available for sale investment securities by maturity groupings as of March 31, 2014 is shown below.

(in thousands)

Securities available for sale	Amortized cost		Fair value
Due within 1 year	$	67,648	$	67,833
Due after 1 but within 5 years	127,055		128,435
Due after 5 but within 10 years	32,945		33,531
Due after 10 years	36,680		36,063
Mortgage-backed securities	175,020		173,280
Corporate equity securities	756		1,042
Total securities available for sale	$	440,104	$	440,184

Schedule of securities with unrealized losses not recognized in income

	Less than 12 months				12 months or more				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(in thousands)	value		losses		value		losses		value		losses
March 31, 2014
Government sponsored enterprise obligations	$	77,580	$	1,161	$	4,402	$	393	$	81,982	$	1,554
Mortgage-backed securities - government agencies	85,985		2,089		17,691		1,174		103,676		3,263
Obligations of states and political subdivisions	15,434		186		2,093		25		17,527		211
Total temporarily impaired securities	$	178,999	$	3,436	$	24,186	$	1,592	$	203,185	$	5,028
December 31, 2013
Government sponsored enterprise obligations	$	76,755	$	1,429	$	4,353	$	443	$	81,108	$	1,872
Mortgage-backed securities - government agencies	112,652		4,400		8,752		822		121,404		5,222
Obligations of states and political subdivisions	22,092		405		1,211		23		23,303		428
Total temporarily impaired securities	$	211,499	$	6,234	$	14,316	$	1,288	$	225,815	$	7,522