Securities (Tables)

9 Months Ended

Sep. 30, 2012

Investments, Debt and Equity Securities [Abstract]

Schedule Of Classification Of Available For Sale Securities Investment [Table Text Block]

The fair value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
September 30, 2012:
Securities available for sale:
State and municipal	$	73,098	$	7,422	$	(8	)	$	80,512
U.S. Government sponsored entities and agencies		1,592		26		-			1,618
Residential mortgage-backed agencies issued by U.S. Government sponsored entities		163,254		3,598		(122	)		166,731
Collateralized debt obligations, including trust preferred securities		4,011		-		(3,074	)		936
Mutual funds		250		10		-			260
Total securities available for sale	$	242,205	$	11,056	$	(3,204	)	$	250,057
December 31, 2011:
Securities available for sale:
State and municipal	$	70,728	$	5,803	$	(4	)	$	76,527
Residential mortgage-backed agencies issued by U.S. Government sponsored entities		118,876		2,190		(39	)		121,027
Collateralized debt obligations, including trust preferred securities		4,069		-		(3,132	)		937
Mutual funds		250		5		-			255
Total securities available for sale	$	193,923	$	7,998	$	(3,175	)	$	198,746

Schedule of Realized Gain (Loss) [Table Text Block]

Sales of available for sale securities were as follows.

	Three Months Ended September 30				Nine Months Ended September 30
	2012		2011		2012		2011
	(In thousands)
Proceeds	$	3,518	$	17,803	$	43,765	$	62,941
Gross gains		250		552		1,415		1,605
Gross losses		-		-		-		-

Schedule Of Contractual Maturities Of Available For Sale Securities Debt Maturites [Table Text Block]

The amortized cost and fair value of the contractual maturities of available for sale securities at September 30, 2012 were as follows. Actual maturities may differ from contractual maturities if the issuers have the right to call their obligations. Mortgage-backed agencies and mutual funds which do not have a single maturity date are shown separately.

	September 30, 2012
	Amortized Cost		Fair Value
	(In thousands)
Within one year	$	59	$	59
One to five years		2,434		2,567
Five to ten years		18,097		19,761
Beyond ten years		58,111		60,679
Residential mortgage-backed securities issued by U.S. Government sponsored entities		163,254		166,731
Mutual funds		250		260
Total	$	242,205	$	250,057

Schedule of Unrealized Loss on Investments [Table Text Block]

Securities with unrealized losses at September 30, 2012 and December 31, 2011, aggregated by investment category and length of time that individual securities have been in a continuous loss position are as follows:

	Less than 12 Months					12 Months or More					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Loss			Value		Loss			Value		Loss
	(In thousands)
September 30, 2012
State and municipal	$	1,017	$	(8	)	$	-	$	-		$	1,017	$	(8	)
Residential mortgaged-backed securities issued by U.S. Government sponsored agencies		23,101		(122	)		-		-			23,101		(122	)
Collateralized debt obligations, including  trust preferred securities		-		-			936		(3,074	)		936		(3,074	)
Total temporarily impaired	$	24,118	$	(130	)	$	936	$	(3,074	)	$	25,054	$	(3,204	)

	Less than 12 Months					12 Months or More					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Loss			Value		Loss			Value		Loss
	(In thousands)
December 31, 2011
State and municipal	$	561	$	(4	)	$	-	$	-		$	561	$	(4	)
Residential mortgaged-backed securities issued by U.S. Government sponsored agencies		26,297		(39	)		-		-			26,297		(39	)
Collateralized debt obligations, including trust preferred securities		-		-			937		(3,132	)		937		(3,132	)
Total temporarily impaired	$	26,858	$	(43	)	$	937	$	(3,132	)	$	27,795	$	(3,175	)

Schedule Of Unrealized Losses On Collateralized Debt Obligation [Table Text Block]

Our analysis of six of these investments falls within the scope of FASB ASC 325-40 and includes $4.0 million amortized cost of pooled trust preferred securities (CDOs). See the table below for a detail of the CDOs (in thousands):

	Current Moody’s Rating	Par Value		Amortized Cost		Estimated Fair Value		Previously Recognized OTTI Related to Credit Loss, Pre-Tax		Current Period OTTI Related to Credit Loss, Pre-Tax
Security 1	CCC- (S&P)	$	2,000	$	2,000	$	565	$	-	$	-
Security 2	C		152		-		-		146		-
Security 3	Caa2		49		44		21		5		-
Security 4	Caa2		317		283		136		35		-
Security 5	Ca		1,556		842		107		637		-
Security 6	Ca		1,556		842		107		637		-
		$	5,630	$	4,011	$	936	$	1,460	$	-