Investment Securities (Tables)

3 Months Ended

Mar. 31, 2013

Investment Securities

Schedule of amortized cost and estimated fair value of securities

	March 31, 2013
	Amortized Cost		Unrealized Gain		Unrealized Loss			Estimated Fair Value
	(in thousands)
Investment securities available for sale:
U.S. Treasury	$	74	$	11	$	—		$	85
Municipal bonds	154,543		1,783		(387		)	155,939
Mortgage-backed securities	143,882		1,821		(567		)	145,136
Total securities available for sale	298,499		3,615		(954		)	301,160
Stock:
FHLB stock	$	8,955	—		—			8,955
Federal Reserve Bank stock	2,019		—		—			2,019
Total stock	10,974		—		—			10,974
Total securities	$	309,473	$	3,615	$	(954	)	$	312,134

	December 31, 2012
	Amortized Cost		Unrealized Gain		Unrealized Loss			Estimated Fair Value
	(in thousands)
Investment securities available for sale:
U.S. Treasury	$	147	$	12	$	—		$	159
Municipal bonds	25,401		1,186		(1		)	26,586
Mortgage-backed securities	56,641		1,162		(482		)	57,321
Total securities available for sale	82,189		2,360		(483		)	84,066
Stock:
FHLB stock	9,228		—		—			9,228
Federal Reserve Bank stock	2,019		—		—			2,019
Total stock	11,247		—		—			11,247
Total securities	$	93,436	$	2,360	$	(483	)	$	95,313

	March 31, 2012
	Amortized Cost		Unrealized Gain		Unrealized Loss			Estimated Fair Value
	(in thousands)
Investment securities available for sale:
U.S. Treasury	$	147	$	13	$	—		$	160
Corporate	5,000		—		(183		)	4,817
Municipal bonds	26,940		851		(96		)	27,695
Mortgage-backed securities	117,975		893		(801		)	118,067
Total securities available for sale	150,062		1,757		(1,080		)	150,739
Stock:
FHLB stock	9,956		—		—			9,956
Federal Reserve Bank stock	2,019		—		—			2,019
Total stock	11,975		—		—			11,975
Total securities	$	162,037	$	1,757	$	(1,080	)	$	162,714

Schedule of number, fair value and gross unrealized holding losses of the Company's investment securities by investment category and length of time that the securities have been in a continuous loss position

	March 31, 2013
	Less than 12 months						12 months or Longer						Total
				Gross						Gross						Gross
				Unrealized						Unrealized						Unrealized
		Fair		Holding				Fair		Holding				Fair		Holding
	Number	Value		Losses			Number	Value		Losses			Number	Value		Losses
	(dollars in thousands)
Municipal bonds	122	$	53,773	$	(387	)	—	$	—	$	—		122	$	53,773	$	(387	)
Mortgage-backed securities	3	20,258		(350		)	27	1,031		(217		)	30	21,289		(567		)
Total	125	$	74,031	$	(737	)	27	$	1,031	$	(217	)	152	$	75,062	$	(954	)

	December 31, 2012
	Less than 12 months						12 months or Longer						Total
				Gross						Gross						Gross
				Unrealized						Unrealized						Unrealized
		Fair		Holding				Fair		Holding				Fair		Holding
	Number	Value		Losses			Number	Value		Losses			Number	Value		Losses
	(dollars in thousands)
Municipal bonds	1	$	292	$	(1	)	—	$	—	$	—		1	$	292	$	(1	)
Mortgage-backed securities	2	15,128		(152		)	31	1,012		(330		)	33	16,140		(482		)
Total	3	$	15,420	$	(153	)	31	$	1,012	$	(330	)	34	$	16,432	$	(483	)

	March 31, 2012
	Less than 12 months						12 months or Longer						Total
				Gross						Gross						Gross
				Unrealized						Unrealized						Unrealized
		Fair		Holding				Fair		Holding				Fair		Holding
	Number	Value		Losses			Number	Value		Losses			Number	Value		Losses
	(dollars in thousands)
Corporate bonds	1	$	4,817	$	(183	)	—	$	—	$	—		1	$	4,817	$	(183	)
Municipal bonds	8	2,832		(96		)	—	—		—			8	2,832		(96		)
Mortgage-backed securities	13	25,523		(87		)	39	1,368		(714		)	52	26,891		(801		)
Total	22	$	33,172	$	(366	)	39	$	1,368	$	(714	)	61	$	34,540	$	(1,080	)

Schedule of amortized cost and estimated fair value of investment securities available for sale by contractual maturity

The amortized cost and estimated fair value of investment securities available for sale at March 31, 2013, by contractual maturity are shown in the table below.

	One Year or Less				More than One Year to Five Years				More than Five Years to Ten Years				More than Ten Years				Total
	Amortized		Fair		Amortized		Fair		Amortized		Fair		Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value		Cost		Value		Cost		Value		Cost		Value
	(dollars in thousands)
Investment securities available for sale:
U.S. Treasury	$	—	$	—	$	—	$	—	$	74	$	85	$	—	$	—	$	74	$	85
Municipal bonds	—		—		4,716		4,720		61,012		61,297		88,815		89,922		154,543		155,939
Mortgage-backed securities	—		—		23		24		12,989		13,102		130,870		132,010		143,882		145,136
Total investment securities available for sale	—		—		4,739		4,744		74,075		74,484		219,685		221,932		298,499		301,160
Stock:
FHLB	8,955		8,955		—		—		—		—		—		—		8,955		8,955
Federal Reserve Bank	2,019		2,019		—		—		—		—		—		—		2,019		2,019
Total stock	10,974		10,974		—		—		—		—		—		—		10,974		10,974
Total securities	$	10,974	$	10,974	$	4,739	$	4,744	$	74,075	$	74,484	$	219,685	$	221,932	$	309,473	$	312,134