Securities (Tables)

3 Months Ended

Mar. 31, 2015

Securities

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

(in thousands)	Amortized		Unrealized
March 31, 2015	cost		Gains		Losses		Fair value
U.S. Treasury and other U.S. Government obligations	$	60,000	$	—	$	—	$	60,000
Government sponsored enterprise obligations	173,137		2,928		251		175,814
Mortgage-backed securities - government agencies	167,768		2,872		745		169,895
Obligations of states and political subdivisions	63,370		1,668		59		64,979
Corporate equity securities	756		258		—		1,014
Total securities available for sale	$	465,031	$	7,726	$	1,055	$	471,702

December 31, 2014
U.S. Treasury and other U.S. Government obligations	$	70,000	$	—	$	—	$	70,000
Government sponsored enterprise obligations	203,531		2,017		562		204,986
Mortgage-backed securities - government agencies	173,573		2,042		1,345		174,270
Obligations of states and political subdivisions	61,416		1,560		142		62,834
Corporate equity securities	756		210		—		966
Total securities available for sale	$	509,276	$	5,829	$	2,049	$	513,056

Summary of securities based on contractual maturity

A summary of the available for sale investment securities by maturity groupings as of March 31, 2015 is shown below.

(in thousands)
Securities available for sale	Amortized cost		Fair value
Due within 1 year	$	82,268	$	82,406
Due after 1 but within 5 years	119,806		121,898
Due after 5 but within 10 years	22,109		22,854
Due after 10 years	72,324		73,635
Mortgage-backed securities	167,768		169,895
Corporate equity securities	756		1,014
Total securities available for sale	$	465,031	$	471,702

Schedule of securities with unrealized losses not recognized in the statements of income

	Less than 12 months				12 months or more				Total
(in thousands)	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
March 31, 2015	value		losses		value		losses		value		losses
Government sponsored enterprise obligations	$	10,698	$	11	$	9,141	$	240	$	19,839	$	251
Mortgage-backed securities - government agencies	13,832		82		35,065		663		48,897		745
Obligations of states and political subdivisions	7,639		36		2,667		23		10,306		59
Total temporarily impaired securities	$	32,169	$	129	$	46,873	$	926	$	79,042	$	1,055

December 31, 2014
Government sponsored enterprise obligations	$	36,979	$	30	$	26,848	$	532	$	63,827	$	562
Mortgage-backed securities - government agencies	4,038		77		49,325		1,268		53,363		1,345
Obligations of states and political subdivisions	12,655		67		6,297		75		18,952		142
Total temporarily impaired securities	$	53,672	$	174	$	82,470	$	1,875	$	136,142	$	2,049