Investment Securities (Tables)

9 Months Ended

Sep. 30, 2012

Investment Securities [Abstract]

Summary of the securities portfolio by major classification

The following is a summary of the securities portfolio by major classification:

	September 30, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(Dollars in thousands)
Securities available-for-sale:
Obligations of states and political subdivisions	$	24,760	$	1,025	$	(15	)	$	25,770
Mortgage-backed securities		103,221		1,828		(324	)		104,725
SBA-backed securities		125,305		2,063		(127	)		127,241
Corporate bonds		27,041		371		(185	)		27,227
	$	280,327	$	5,287	$	(651	)	$	284,963
	December 31, 2011
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(Dollars in thousands)
Securities available-for-sale:
Government-sponsored enterprises and FFCB bonds	$	1,003	$	29	$	—		$	1,032
Obligations of states and political subdivisions		27,855		863		—			28,718
Mortgage-backed securities		130,949		1,460		(117	)		132,292
SBA-backed securities		146,195		774		(332	)		146,637
Corporate bonds		32,683		88		(2,000	)		30,771
	$	338,685	$	3,214	$	(2,449	)	$	339,450

Gross realized gains and losses on sales of securities

Gross realized gains and losses on sales of securities for the three and nine-month periods ended September 30, 2012 and September 30, 2011 were as follows:

	Nine months ended September 30, (Dollars in thousands)
	2012			2011
Gross realized gains	$	3,830		$	1,987
Gross realized losses		(286	)		(105	)
Net realized gains	$	3,544		$	1,882
	Three months ended September 30, (Dollars in thousands)
	2012			2011
Gross realized gains	$	3,398		$	1,016
Gross realized losses		(178	)		(18	)
Net realized gains	$	3,220		$	998

Fair value of investments with unrealized losses

The tables are segregated into investments that have been in a continuous unrealized-loss position for less than 12 months from those that have been in a continuous unrealized-loss position for 12 months or longer.

	September 30, 2012
	Less Than 12 Months				12 Months or longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(Dollars in thousands)
Obligations of states and political subdivisions	$	963	$	15	$	—	$	—	$	963	$	15
Mortgage-backed securities		24,033		324		—		—		24,033		324
SBA-backed securities		13,252		107		6,038		20		19,290		127
Corporate bonds		990		10		4,825		175		5,815		185
Total	$	39,238	$	456	$	10,863	$	195	$	50,101	$	651
	December 31, 2011
	Less Than 12 Months				12 Months or longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(Dollars in thousands)
Mortgage-backed securities	$	25,011	$	81	$	2,880	$	36	$	27,891	$	117
SBA-backed securities		62,543		332		—		—		62,543		332
Corporate bonds		11,824		485		13,755		1,515		25,579		2,000
Total	$	99,378	$	898	$	16,635	$	1,551	$	116,013	$	2,449

Aggregate amortized cost and fair value of the available-for-sale securities portfolio by remaining contractual maturity

The aggregate amortized cost and fair value of the available-for-sale securities portfolio at September 30, 2012 by remaining contractual maturity are as follows:

	Amortized Cost		Fair Value
	(Dollars in thousands)
Obligations of states and political subdivisions:
Due in one through five years	$	1,605		1,697
Due in five through ten years		8,353		8,767
Due after ten years		14,802		15,306
Mortgage-backed securities:
Due in one through five years		1,039		1,057
Due in five through ten years		28,453		29,391
Due after ten years		73,729		74,277
SBA-backed securities:
Due in five through ten years		4,855		4,947
Due after ten years		120,450		122,294
Corporate bonds:
Due in one through five years		19,554		19,663
Due in five through ten years		7,487		7,564
Total securities	$	280,327	$	284,963

The aggregate amortized cost and fair value of the available-for-sale securities portfolio at December 31, 2011 by remaining contractual maturity are as follows:

	Amortized Cost		Fair Value
	(Dollars in thousands)
Government-sponsored enterprises and FFCB bonds:
Due in one through five years	$	3	$	28
Due in five through ten years		1,000		1,004
Obligations of states and political subdivisions:
Due in one year or less		250		252
Due in one through five years		961		1,033
Due in five through ten years		11,768		12,083
Due after ten years		14,876		15,350
Mortgage-backed securities:
Due in five through ten years		7,415		7,490
Due after ten years		123,534		124,802
SBA-backed securities:
Due in five through ten years		2,967		3,007
Due after ten years		143,228		143,630
Corporate bonds:
Due in one year through five years		13,338		13,081
Due in five through ten years		19,345		17,690
Total securities	$	338,685	$	339,450