| Summary of Amortized Cost and Fair Value of Investment Securities Available for Sale |
The amortized cost and fair value of investment securities
available for sale are summarized as follows (in thousands):
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2013 |
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Gross |
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|
Gross |
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|
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| |
|
Amortized |
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Unrealized |
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|
Unrealized |
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Fair |
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| |
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Cost |
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Gains |
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Losses |
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Value |
|
|
Available for sale
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|
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Fannie Mae
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|
$ |
114,927 |
|
|
$ |
1,691 |
|
|
$ |
(1,595 |
) |
|
$ |
115,023 |
|
|
Freddie Mac
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|
|
60,111 |
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|
|
838 |
|
|
|
(1,252 |
) |
|
|
59,697 |
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Governmental National Mortgage Association securities
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|
|
39,692 |
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|
289 |
|
|
|
(230 |
) |
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|
39,751 |
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Other mortgage-backed securities
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|
3,385 |
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|
— |
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(19 |
) |
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|
3,366 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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Total mortgage-backed securities
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|
218,115 |
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|
|
2,818 |
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|
|
(3,096 |
) |
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|
217,837 |
|
|
Obligations of states and political subdivisions
|
|
|
23,754 |
|
|
|
654 |
|
|
|
(499 |
) |
|
|
23,909 |
|
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U.S. government agency securities
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|
|
52,775 |
|
|
|
225 |
|
|
|
(480 |
) |
|
|
52,520 |
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|
Corporate obligations
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|
12,756 |
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|
|
186 |
|
|
|
(169 |
) |
|
|
12,773 |
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Trust-preferred securities
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|
|
4,943 |
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|
|
471 |
|
|
|
— |
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|
|
5,414 |
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Other debt securities
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|
1,147 |
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|
7 |
|
|
|
— |
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|
1,154 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Total debt securities
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|
|
313,490 |
|
|
|
4,361 |
|
|
|
(4,244 |
) |
|
|
313,607 |
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|
Equity securities—financial services
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|
2,025 |
|
|
|
— |
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(10 |
) |
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|
2,015 |
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|
|
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|
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|
|
|
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Total
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|
$ |
315,515 |
|
|
$ |
4,361 |
|
|
$ |
(4,254 |
) |
|
$ |
315,622 |
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2012 |
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| |
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Gross |
|
|
Gross |
|
|
|
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| |
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Fair |
|
| |
|
Cost |
|
|
Gains |
|
|
Losses |
|
|
Value |
|
|
Available for sale
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fannie Mae
|
|
$ |
111,145 |
|
|
$ |
4,652 |
|
|
$ |
(3 |
) |
|
$ |
115,794 |
|
|
Freddie Mac
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|
48,913 |
|
|
|
1,952 |
|
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|
(11 |
) |
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|
50,854 |
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|
Governmental National Mortgage Association securities
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|
43,164 |
|
|
|
803 |
|
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|
(16 |
) |
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|
43,951 |
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|
Other mortgage-backed securities
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|
5,043 |
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|
162 |
|
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|
— |
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|
5,205 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Total mortgage-backed securities
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|
208,265 |
|
|
|
7,569 |
|
|
|
(30 |
) |
|
|
215,804 |
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|
Obligations of states and political subdivisions
|
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|
18,611 |
|
|
|
906 |
|
|
|
— |
|
|
|
19,517 |
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U.S. government agency securities
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|
74,106 |
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|
379 |
|
|
|
(1 |
) |
|
|
74,484 |
|
|
Corporate obligations
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|
|
8,602 |
|
|
|
146 |
|
|
|
(91 |
) |
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|
8,657 |
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|
Trust-preferred securities
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|
|
5,852 |
|
|
|
382 |
|
|
|
(1 |
) |
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|
6,233 |
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|
Other debt securities
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|
|
1,476 |
|
|
|
36 |
|
|
|
— |
|
|
|
1,512 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total debt securities
|
|
|
316,912 |
|
|
|
9,418 |
|
|
|
(123 |
) |
|
|
326,207 |
|
|
Equity securities—financial services
|
|
|
3,267 |
|
|
|
111 |
|
|
|
— |
|
|
|
3,378 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Total
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|
$ |
320,179 |
|
|
$ |
9,529 |
|
|
$ |
(123 |
) |
|
$ |
329,585 |
|
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| Schedule of Amortized Cost and Fair Value of Debt Securities by Contractual Maturity |
The amortized cost and fair value of debt securities at
September 30, 2013, by contractual maturity, are shown below.
Expected maturities will differ from contractual maturities because
borrowers may have the right to call or prepay obligations with or
without call or prepayment penalties (in thousands):
|
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| |
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Available for Sale |
|
| |
|
Amortized |
|
|
Fair |
|
| |
|
Cost |
|
|
Value |
|
|
Due in one year or less
|
|
$ |
3,026 |
|
|
$ |
3,044 |
|
|
Due after one year through five years
|
|
|
41,889 |
|
|
|
42,147 |
|
|
Due after five years through ten years
|
|
|
65,780 |
|
|
|
65,847 |
|
|
Due after ten years
|
|
|
202,795 |
|
|
|
202,569 |
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
313,490 |
|
|
$ |
313,607 |
|
|
|
|
|
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|