INVESTMENT SECURITIES (Tables)

6 Months Ended

Jun. 30, 2014

INVESTMENT SECURITIES

Gross Amortized Cost and Fair Value of Securities Available for Sale and Related Gross Unrealized Gains and Losses Recognized in Accumulated Other Comprehensive Income (Loss)

	Gross		Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
June 30, 2014 (in thousands)	Cost		Gains		Losses			Value
U.S. Treasury securities and U.S. Government agencies	$	144,821	$	640	$	(17	)	$	145,444
Private label mortgage backed security	4,347		1,114		—			5,461
Mortgage backed securities - residential	131,702		4,803		(87		)	136,418
Collateralized mortgage obligations	159,137		1,308		(912		)	159,533
Freddie Mac preferred stock	—		718		—			718
Mutual fund	1,000		11		—			1,011
Corporate bonds	15,013		52		(4		)	15,061
Total securities available for sale	$	456,020	$	8,646	$	(1,020	)	$	463,646

	Gross		Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
December 31, 2013 (in thousands)	Cost		Gains		Losses			Value
U.S. Treasury securities and U.S. Government agencies	$	97,157	$	409	$	(101	)	$	97,465
Private label mortgage backed security	4,740		745		—			5,485
Mortgage backed securities - residential	146,087		4,288		(288		)	150,087
Collateralized mortgage obligations	164,264		1,228		(1,546		)	163,946
Mutual fund	1,000		—		(5		)	995
Corporate bonds	15,015		50		(150		)	14,915
Total securities available for sale	$	428,263	$	6,720	$	(2,090	)	$	432,893

Carrying Value, Gross Unrecognized Gains and Losses, and Fair Value of Securities to be Held to Maturity

			Gross		Gross
	Carrying		Unrecognized		Unrecognized			Fair
June 30, 2014 (in thousands)	Value		Gains		Losses			Value
U.S. Treasury securities and U.S. Government agencies	$	2,275	$	5	$	(8	)	$	2,272
Mortgage backed securities - residential	412		53		—			465
Collateralized mortgage obligations	40,651		387		(52		)	40,986
Corporate bonds	5,000		—		(129		)	4,871
Total securities held to maturity	$	48,338	$	445	$	(189	)	$	48,594

			Gross		Gross
	Carrying		Unrecognized		Unrecognized			Fair
December 31, 2013 (in thousands)	Value		Gains		Losses			Value
U.S. Treasury securities and U.S. Government agencies	$	2,311	$	7	$	(13	)	$	2,305
Mortgage backed securities - residential	420		43		—			463
Collateralized mortgage obligations	42,913		387		(184		)	43,116
Corporate bonds	5,000		—		(116		)	4,884
Total securities held to maturity	$	50,644	$	437	$	(313	)	$	50,768

Amortized Cost and Fair Value of Investment Securities Portfolio by Contractual Maturity

	Securities				Securities
	available for sale				held to maturity
	Amortized		Fair		Carrying		Fair
June 30, 2014 (in thousands)	Cost		Value		Value		Value
Due in one year or less	$	23,493	$	23,715	$	500	$	502
Due from one year to five years	126,341		126,794		1,775		1,771
Due from five years to ten years	10,000		9,996		5,000		4,870
Due beyond ten years	—		—		—		—
Private label mortgage backed security	4,347		5,461		—		—
Mortgage backed securities - residential	131,702		136,418		412		465
Collateralized mortgage obligations	159,137		159,533		40,651		40,986
Freddie Mac preferred stock	—		718		—		—
Mutual fund	1,000		1,011		—		—
Total securities	$	456,020	$	463,646	$	48,338	$	48,594

Securities with Unrealized Losses, Aggregated by Investment Category with Continuous Unrealized Loss Position

	Less than 12 months					12 months or more					Total
June 30, 2014 (in thousands)	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Securities available for sale:
U.S. Treasury securities and U.S. Government agencies	$	2,106	$	(17	)	$	—	$	—		$	2,106	$	(17	)
Mortgage backed securities - residential	8,312		(87		)	—		—			8,312		(87		)
Collateralized mortgage obligations	56,578		(778		)	7,567		(134		)	64,145		(912		)
Corporate bonds	9,996		(4		)	—		—			9,996		(4		)
Total securities available for sale	$	76,992	$	(886	)	$	7,567	$	(134	)	$	84,559	$	(1,020	)

	Less than 12 months					12 months or more				Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Securities held to maturity:
U.S. Treasury securities and U.S. Government agencies	$	521	$	(8	)	$	—	$	—	$	521	$	(8	)
Collateralized mortgage obligations	18,274		(52		)	—		—		18,274		(52		)
Corporate bonds	4,871		(129		)	—		—		4,871		(129		)
Total securities held to maturity	$	23,666	$	(189	)	$	—	$	—	$	23,666	$	(189	)

	Less than 12 months					12 months or more				Total
December 31, 2013 (in thousands)	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Securities available for sale:
U.S. Treasury securities and U.S. Government agencies	$	44,041	$	(101	)	$	—	$	—	$	44,041	$	(101	)
Mortgage backed securities - residential	19,494		(288		)	—		—		19,494		(288		)
Collateralized mortgage obligations	55,927		(1,546		)	—		—		55,927		(1,546		)
Mutual fund	995		(5		)	—		—		995		(5		)
Corporate bonds	9,850		(150		)	—		—		9,850		(150		)
Total securities available for sale	$	130,307	$	(2,090	)	$	—	$	—	$	130,307	$	(2,090	)

	Less than 12 months					12 months or more				Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Securities held to maturity:
U.S. Treasury securities and U.S. Government agencies	$	521	$	(13	)	$	—	$	—	$	521	$	(13	)
Collateralized mortgage obligations	18,686		(184		)	—		—		18,686		(184		)
Corporate bonds	4,884		(116		)	—		—		4,884		(116		)
Total securities held to maturity	$	24,091	$	(313	)	$	—	$	—	$	24,091	$	(313	)

Pledged Investment Securities

(in thousands)	June 30, 2014		December 31, 2013
Carrying amount	$	249,532	$	224,693
Fair value	249,659		224,989