Investment Securities (Tables)

9 Months Ended

Sep. 30, 2013

Investment Securities

Schedule of amortized cost and fair value of debt securities classified as available-for-sale

			Gross		Gross
	Amortized		unrealized		unrealized
(in thousands)	cost		gains		losses		Fair value
September 30, 2013
U.S. Treasury	$	1,000	$	6	$	0	$	1,006
Government sponsored enterprises	64,089		423		674		63,838
Asset-backed securities	114,966		1,402		2,289		114,079
Obligations of states and political subdivisions	34,299		627		220		34,706
Total available for sale securities	$	214,354	$	2,458	$	3,183	$	213,629
December 31, 2012
U.S. Treasury	$	2,000	$	30	$	0	$	2,030
Government sponsored enterprises	54,327		853		0		55,180
Asset-backed securities	104,607		3,276		11		107,872
Obligations of states and political subdivisions	33,959		1,222		17		35,164
Total available for sale securities	$	194,893	$	5,381	$	28	$	200,246

Schedule of amortized cost and fair value of debt securities classified as available-for-sale by contractual maturity

	Amortized		Fair
(in thousands)	cost		value
Due in one year or less	$	6,432	$	6,482
Due after one year through five years	59,976		60,495
Due after five years through ten years	31,843		31,488
Due after ten years	1,137		1,085
Total	99,388		99,550
Asset-backed securities	114,966		114,079
Total available for sale securities	$	214,354	$	213,629

Schedule of gross unrealized losses on debt securities and fair value of related securities aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position

	Less than 12 months					12 months or more					Total		Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
(in thousands)	Value		Losses			Value		Losses			Value		Losses
At September 30, 2013
Government sponsored enterprises	$	27,876	$	(674	)	$	0	$	0		$	27,876	$	(674	)
Asset-backed securities	68,464		(2,281		)	790		(8		)	69,254		(2,289		)
Obligations of states and political subdivisions	9,636		(220		)	0		0			9,636		(220		)
Total	$	105,976	$	(3,175	)	$	790	$	(8	)	$	106,766	$	(3,183	)

(in thousands)
At December 31, 2012
Government sponsored enterprises	$	1,044	$	0		$	0	$	0	$	1,044	$	0
Asset-backed securities	4,729		(11		)	0		0		4,729		(11		)
Obligations of states and political subdivisions	2,114		(17		)	150		0		2,264		(17		)
Total	$	7,887	$	(28	)	$	150	$	0	$	8,037	$	(28	)

Schedule of components of investment securities gains (losses), which are recognized in earnings

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in thousands)	2013		2012		2013		2012
Gross gains realized on sales	$	0	$	26	$	554	$	26
Gross losses realized on sales	0		0		0		0
Other-than-temporary impairment recognized	0		0		0		0
Net realized gains	$	0	$	26	$	554	$	26