Investment Securities (Tables)

3 Months Ended

Mar. 31, 2013

Investments, Debt and Equity Securities [Abstract]

Available-for-sale Securities

The following is a summary of the amortized cost and fair value of investment securities available-for-sale and investment securities held-to-maturity at March 31, 2013, December 31, 2012 and March 31, 2012:

	Investment Securities Available-for-Sale
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
	(In thousands)
March 31, 2013
Government sponsored agencies	$	94,939	$	608	$	168	$	95,379
State and political subdivisions	47,043		2,206		—		49,249
Residential mortgage-backed securities	237,256		1,984		48		239,192
Collateralized mortgage obligations	246,751		1,087		170		247,668
Corporate bonds	65,114		783		349		65,548
Preferred stock	6,144		442		—		6,586
Total	$	697,247	$	7,110	$	735	$	703,622
December 31, 2012
Government sponsored agencies	$	97,529	$	241	$	213	$	97,557
State and political subdivisions	47,663		2,302		—		49,965
Residential mortgage-backed securities	96,320		3,100		9		99,411
Collateralized mortgage obligations	262,790		984		182		263,592
Corporate bonds	69,788		546		539		69,795
Preferred stock	6,144		345		—		6,489
Total	$	580,234	$	7,518	$	943	$	586,809
March 31, 2012
Government sponsored agencies	$	77,365	$	240	$	79	$	77,526
State and political subdivisions	41,816		2,240		—		44,056
Residential mortgage-backed securities	107,126		3,938		159		110,905
Collateralized mortgage obligations	355,291		1,356		695		355,952
Corporate bonds	86,547		218		699		86,066
Preferred stock	1,389		113		—		1,502
Total	$	669,534	$	8,105	$	1,632	$	676,007

Held-to-maturity Securities

	Investment Securities Held-to-Maturity
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
	(In thousands)
March 31, 2013
State and political subdivisions	$	247,249	$	10,002	$	1,886	$	255,365
Trust preferred securities	10,500		—		4,460		6,040
Total	$	257,749	$	10,002	$	6,346	$	261,405
December 31, 2012
State and political subdivisions	$	219,477	$	8,087	$	3,367	$	224,197
Trust preferred securities	10,500		—		4,775		5,725
Total	$	229,977	$	8,087	$	8,142	$	229,922
March 31, 2012
State and political subdivisions	$	180,797	$	7,449	$	549	$	187,697
Trust preferred securities	10,500		—		5,825		4,675
Total	$	191,297	$	7,449	$	6,374	$	192,372

Amortized cost and fair value of debt securities by contractual maturity

The following is a summary of the amortized cost and fair value of investment securities at March 31, 2013, by maturity, for both available-for-sale and held-to-maturity investment securities. The maturities of residential mortgage-backed securities and collateralized mortgage obligations are based on scheduled principal payments. The maturities of all other debt securities are based on final contractual maturity.

	March 31, 2013
	Amortized Cost		Fair Value
	(In thousands)
Investment Securities Available-for-Sale:
Due in one year or less	$	111,238	$	112,000
Due after one year through five years	110,514		112,051
Due after five years through ten years	351,441		353,879
Due after ten years	117,910		119,106
Preferred stock	6,144		6,586
Total	$	697,247	$	703,622
Investment Securities Held-to-Maturity:
Due in one year or less	$	37,103	$	37,168
Due after one year through five years	103,486		106,000
Due after five years through ten years	78,048		82,248
Due after ten years	39,112		35,989
Total	$	257,749	$	261,405

Summary of continuous unrealized loss position of securities

The following schedule summarizes information for both available-for-sale and held-to-maturity investment securities with gross unrealized losses at March 31, 2013, December 31, 2012 and March 31, 2012, aggregated by category and length of time that individual securities have been in a continuous unrealized loss position.

	Less Than 12 Months				12 Months or More				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
	(In thousands)
March 31, 2013
Government sponsored agencies	$	17,281	$	168	$	—	$	—	$	17,281	$	168
State and political subdivisions	73,880		1,667		10,685		219		84,565		1,886
Residential mortgage-backed securities	86,179		45		374		3		86,553		48
Collateralized mortgage obligations	27,802		133		8,560		37		36,362		170
Corporate bonds	—		—		19,651		349		19,651		349
Trust preferred securities	—		—		6,040		4,460		6,040		4,460
Total	$	205,142	$	2,013	$	45,310	$	5,068	$	250,452	$	7,081
December 31, 2012
Government sponsored agencies	$	46,103	$	213	$	—	$	—	$	46,103	$	213
State and political subdivisions	70,675		2,257		8,046		1,110		78,721		3,367
Residential mortgage-backed securities	273		1		1,305		8		1,578		9
Collateralized mortgage obligations	19,331		10		36,835		172		56,166		182
Corporate bonds	4,747		253		34,707		286		39,454		539
Trust preferred securities	—		—		5,725		4,775		5,725		4,775
Total	$	141,129	$	2,734	$	86,618	$	6,351	$	227,747	$	9,085
March 31, 2012
Government sponsored agencies	$	19,205	$	54	$	9,897	$	25	$	29,102	$	79
State and political subdivisions	26,775		525		3,956		24		30,731		549
Residential mortgage-backed securities	32		1		20,630		158		20,662		159
Collateralized mortgage obligations	79,386		448		39,597		247		118,983		695
Corporate bonds	29,598		392		14,693		307		44,291		699
Trust preferred securities	—		—		4,675		5,825		4,675		5,825
Total	$	154,996	$	1,420	$	93,448	$	6,586	$	248,444	$	8,006