INVESTMENT SECURITIES AVAILABLE FOR SALE (Tables)

3 Months Ended

Mar. 31, 2014

Investment Securities Available For Sale Tables

Schedule of amortized cost and approximate fair value of securities available for sale

A summary of amortized cost and approximate fair value of securities available for sale included in the consolidated statements of condition as of March 31, 2014 and December 31, 2013 follows:

	March 31, 2014
			Gross		Gross
	Amortized		Unrecognized		Unrecognized			Fair
(In thousands)	Cost		Gains		Losses			Value
U.S. government-sponsored entities	$	15,988	$	—	$	(766	)	$	15,222
Mortgage-backed securities – residential		161,195		2,528		(674	)		163,049
State and political subdivisions		63,865		643		(9	)		64,499
Single-issuer trust preferred security		2,999		—		(599	)		2,400
CRA investment		3,000		—		(100	)		2,900
Total	$	247,047	$	3,171	$	(2,148	)	$	248,070

	December 31, 2013
			Gross		Gross
	Amortized		Unrecognized		Unrecognized			Fair
(In thousands)	Cost		Gains		Losses			Value
U.S. government-sponsored entities	$	15,986	$	—	$	(1,216	)	$	14,770
Mortgage-backed securities – residential		187,574		2,651		(1,145	)		189,080
State and political subdivisions		58,849		565		(71	)		59,343
Single-issuer trust preferred security		2,999		—		(629	)		2,370
CRA investment		3,000		—		(116	)		2,884
Total	$	268,408	$	3,216	$	(3,177	)	$	268,447

Schedule of continuous unrealized losses and the approximate fair value of these investments

The following tables present the Corporation’s available for sale securities with continuous unrealized losses and the approximate fair value of these investments as of March 31, 2014 and December 31, 2013.

	March 31, 2014
	Duration of Unrecognized Loss
	Less Than 12 Months					12 Months or Longer					Total
	Approximate					Approximate					Approximate
	Fair		Unrecognized			Fair		Unrecognized			Fair		Unrecognized
(In thousands)	Value		Losses			Value		Losses			Value		Losses
U.S. government
sponsored entities	$	15,222	$	(766	)	$	—	$	—		$	15,222	$	(766	)
Mortgage-backed
securities-residential		48,240		(664	)		1,396		(10	)		49,636		(674	)
State and political
subdivisions		942		(9	)		—		—			942		(9	)
Single-issuer trust
Preferred security		—		—			2,400		(599	)		2,400		(599	)
CRA investment fund		2,900		(100	)		—		—			2,900		(100	)
Total	$	67,304	$	(1,539	)	$	3,796	$	(609	)	$	71,100	$	(2,148	)

	December 31, 2013
	Duration of Unrecognized Loss
	Less Than 12 Months					12 Months or Longer					Total
	Approximate					Approximate					Approximate
	Fair		Unrecognized			Fair		Unrecognized			Fair		Unrecognized
(In thousands)	Value		Losses			Value		Losses			Value		Losses
U.S. government
sponsored entities	$	14,770	$	(1,216	)	$	—	$	—		$	14,770	$	(1,216	)
Mortgage-backed
securities-residential		71,154		(1,142	)		84		(3	)		71,238		(1,145	)
State and political
subdivisions		5,589		(71	)		—		—			5,589		(71	)
Single-issuer trust
Preferred security		—		—			2,370		(629	)		2,370		(629	)
CRA investment fund		2,884		(116	)		—		—			2,884		(116	)
Total	$	94,397	$	(2,545	)	$	2,454	$	(632	)	$	96,851	$	(3,177	)