Securities (Tables)

6 Months Ended

Jun. 30, 2013

Investments, Debt and Equity Securities [Abstract]

Amortized costs and fair values of securities available for sale

Amortized costs and fair values of securities available for sale at June 30, 2013 are summarized as follows:

	June 30, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In Thousands)
Available for Sale
U.S. government agencies	$	13,720	$	300	$	(72	)	$	13,948
Obligations of states and
political subdivisions	79,309		1,921		(2,083		)	79,147
Mortgage-backed securities:
Agency	162,925		4,592		(954		)	166,563
Non-agency	17,529		148		(186		)	17,491
Other asset backed securities	32,283		839		(89		)	33,033
Corporate preferred stock	68		2		—			70
Corporate securities	10,207		20		(347		)	9,880
Total	$	316,041	$	7,822	$	(3,731	)	$	320,132

Amortized costs and fair values of securities available for sale at December 31, 2012 are summarized as follows:

	December 31, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In Thousands)
Available for Sale
U.S. government agencies	$	15,391	$	459	$	(28	)	$	15,822
Obligations of states and
political subdivisions	74,485		3,920		(105		)	78,300
Mortgage-backed securities:
Agency	161,564		5,659		(280		)	166,943
Non-agency	15,310		287		(18		)	15,579
Other asset backed securities	33,648		1,079		(85		)	34,642
Corporate preferred stock	68		—		(6		)	62
Corporate securities	8,730		12		(633		)	8,109
Total	$	309,196	$	11,416	$	(1,155	)	$	319,457

Amortized cost and fair value of securities available for sale by contractual maturity

The amortized cost and fair value of securities available for sale as of June 30, 2013, by contractual maturity are shown below.  Maturities may differ from contractual maturities in mortgage-backed, other asset-backed, and corporate securities because the mortgages, loans, and securities underlying the securities may be called or repaid without any penalties.  Therefore, these securities are not included in the maturity categories in the following maturity summary.

	June 30, 2013
	Amortized Cost		Fair Value
	(In thousands)
Due in one year or less	$	3,677	$	3,708
Due after one year through
five years	35,915		36,686
Due after five years through
ten years	24,264		24,176
Due after ten years	39,380		38,405
Mortgage-backed securities	180,454		184,054
Other asset backed securities	32,283		33,033
Corporate preferred stock	68		70
Total	$	316,041	$	320,132

Investments in continuous unrealized loss position

At June 30, 2013, investments in an unrealized loss position that were temporarily impaired are as follows:

	June 30, 2013
						(In thousands)
	Less than Twelve Months					Twelve Months or Greater					Total
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
U.S. government agencies	$	5,521	$	(72	)	$	16	$	—		$	5,537	$	(72	)
Obligations of states and
political subdivisions	26,468		(2,083		)	—		—			26,468		(2,083		)
Mortgage backed securities:
Agency	42,803		(844		)	2,570		(110		)	45,373		(954		)
Non-agency	11,087		(186		)	—		—			11,087		(186		)
Other asset backed securities	333		—			2,357		(89		)	2,690		(89		)
Corporate securities	4,483		(97		)	4,250		(250		)	8,733		(347		)
Total	$	90,695	$	(3,282	)	$	9,193	$	(449	)	$	99,888	$	(3,731	)

At December 31, 2012, investments in an unrealized loss position that were temporarily impaired are as follows:

	December 31, 2012
						(In thousands)
	Less than Twelve Months					Twelve Months or Greater					Total
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
U.S. government agencies	$	3,850	$	(28	)	$	16	$	—		$	3,866	$	(28	)
Obligations of states and
political subdivisions	6,966		(105		)	—		—			6,966		(105		)
Mortgage backed securities:
Agency	24,344		(234		)	1,241		(46		)	25,585		(280		)
Non-agency	3,295		(18		)	—		—			3,295		(18		)
Other asset backed securities	2,791		(57		)	1,418		(28		)	4,209		(85		)
Corporate preferred stock	—		—			33		(6		)	33		(6		)
Corporate securities	—		—			6,867		(633		)	6,867		(633		)
Total	$	41,246	$	(442	)	$	9,575	$	(713	)	$	50,821	$	(1,155	)