SECURITIES (Tables)

6 Months Ended

Jun. 30, 2013

SECURITIES [Abstract]

Amortized Cost and Fair Value of Investment Securities, by Category

Amortized cost and fair value of investment securities, by category, at June 30, 2013 are summarized as follows:

2013	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Available for sale
Mortgage-backed securities
U. S. sponsored agency MBS - residential	$	37,366	$	1,035	$	(177	)	$	38,224
U. S. sponsored agency CMO’s - residential		201,458		3,690		(1,030	)		204,118
Total mortgage-backed securities of government sponsored agencies		238,824		4,725		(1,207	)		242,342
U. S. government sponsored agency securities		7,070		23		(124	)		6,969
Obligations of states and political subdivisions		6,447		300		-			6,747
Other securities		1,373		761		(72	)		2,062
Total available for sale	$	253,714	$	5,809	$	(1,403	)	$	258,120

Amortized cost and fair value of investment securities, by category, at December 31, 2012 are summarized as follows:

2012	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Available for sale
Mortgage-backed securities
U. S. sponsored agency MBS - residential	$	35,172	$	1,928	$	-		$	37,100
U. S. sponsored agency CMO’s - residential		206,466		6,392		(11	)		212,847
Total mortgage-backed securities of government sponsored agencies		241,638		8,320		(11	)		249,947
U. S. government sponsored agency securities		22,062		182		-			22,244
Obligations of states and political subdivisions		7,419		441		-			7,860
Other securities		2,892		1,105		(73	)		3,924
Total available for sale	$	274,011	$	10,048	$	(84	)	$	283,975

Amortized Cost and Fair Value of Securities by Contractual Maturity

The amortized cost and fair value of securities at June 30, 2013 by contractual maturity are shown below.  Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Amortized Cost		Fair Value
Available for sale
Due in one year or less	$	1,748	$	1,708
Due after one year through five years		8,346		8,647
Due after five years through ten years		3,997		3,873
Due after ten years		377		790
Corporate preferred securities		422		760
Mortgage-backed securities of government sponsored agencies		238,824		242,342
Total available for sale	$	253,714	$	258,120

Securities in Continuous Unrealized Loss Position

Securities with unrealized losses at June 30, 2013 aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position are as follows:

	Less than 12 Months					12 Months or More					Total
Description of Securities	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
U.S government sponsored agency MBS – residential	$	10,415	$	(177	)	$	-	$	-		$	10,415	$	(177	)
U.S government sponsored agency CMO – residential		46,143		(1,030	)		-		-			46,143		(1,030	)
U.S government sponsored agency securities		3,873		(124	)		-		-			3,873		(124	)
Other securities		-		-			4		(72	)		4		(72	)
Total temporarily impaired	$	60,431	$	(1,331	)	$	4	$	(72	)	$	60,435	$	(1,403	)

Securities with unrealized losses at December 31, 2012 aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position are as follows:

	Less than 12 Months					12 Months or More					Total
Description of Securities	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
U.S government sponsored agency CMO – residential	$	2,077	$	(11	)	$	-	$	-		$	2,077	$	(11	)
Other securities		-		-			4		(73	)		4		(73	)
Total temporarily impaired	$	2,077	$	(11	)	$	4	$	(73	)	$	2,081	$	(84	)