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Investment Securities (Tables)
3 Months Ended
Mar. 31, 2014
Investment Securities  
Schedule of amortized cost and estimated fair value of securities

 

 

 

 

March 31, 2014

 

 

 

Amortized
Cost

 

Unrealized
Gain

 

Unrealized
Loss

 

Estimated
Fair Value

 

 

 

(in thousands)

 

Investment securities available for sale:

 

 

 

 

 

 

 

 

 

Municipal bonds

 

$

77,062

 

$

848

 

$

(586

)

$

77,324

 

Mortgage-backed securities

 

126,921

 

65

 

(2,168

)

124,818

 

Total securities available for sale

 

$

203,983

 

$

913

 

$

(2,754

)

$

202,142

 

 

 

 

December 31, 2013

 

 

 

Amortized
Cost

 

Unrealized
Gain

 

Unrealized
Loss

 

Estimated
Fair Value

 

 

 

(in thousands)

 

Investment securities available for sale:

 

 

 

 

 

 

 

 

 

U.S. Treasury

 

$

73

 

$

8

 

$

 

$

81

 

Municipal bonds

 

95,388

 

589

 

(1,850

)

94,127

 

Mortgage-backed securities

 

165,857

 

12

 

(3,988

)

161,881

 

Total securities available for sale

 

$

261,318

 

$

609

 

$

(5,838

)

$

256,089

 

 

 

 

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

 

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, 2014

 

 

 

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

 

74

 

$

36,765

 

$

(476

)

12

 

$

5,046

 

$

(110

)

86

 

$

41,811

 

$

(586

)

Mortgage-backed securities

 

32

 

93,299

 

(1,422

)

1

 

12,312

 

(746

)

33

 

105,611

 

(2,168

)

Total

 

106

 

$

130,064

 

$

(1,898

)

13

 

$

17,358

 

$

(856

)

119

 

$

147,422

 

$

(2,754

)

 

 

 

December 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

 

133

 

$

61,524

 

$

(1,850

)

 

$

 

$

 

133

 

$

61,524

 

$

(1,850

)

Mortgage-backed securities

 

45

 

140,704

 

(3,075

)

1

 

12,607

 

(913

)

46

 

153,311

 

(3,988

)

Total

 

178

 

$

202,228

 

$

(4,925

)

1

 

$

12,607

 

$

(913

)

179

 

$

214,835

 

$

(5,838

)

 

 

 

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

)

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

 

 

 

One Year

 

More than One

 

More than Five Years

 

More than

 

 

 

 

 

or Less

 

Year to Five Years

 

to Ten Years

 

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:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal bonds

 

$

 

$

 

$

11,749

 

$

11,729

 

$

37,712

 

$

37,570

 

$

27,601

 

$

28,025

 

$

77,062

 

$

77,324

 

Mortgage-backed securities

 

 

 

 

 

12,675

 

12,576

 

114,246

 

112,242

 

126,921

 

124,818

 

Total investment securities available for sale

 

 

 

11,749

 

11,729

 

50,387

 

50,146

 

141,847

 

140,267

 

203,983

 

202,142