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Investment Securities (Tables)
6 Months Ended
Jun. 30, 2013
Investments Debt And Equity Securities [Abstract]  
Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale

The amortized cost and estimated fair value of investment securities available for sale at June 30, 2013, December 31, 2012 and June 30, 2012 are presented below:

 

     Amortized
Cost
     Gross
Unrealized
Gains
     Gross
Unrealized
Losses
    Fair Value  
     (Dollars in Thousands)  

June 30, 2013:

          

U.S. government agencies

   $ 14,944       $ —         $ (609   $ 14,335   

State, county and municipal securities

     109,793         3,708         (742     112,759   

Corporate debt securities

     10,543         311         (764     10,090   

Mortgage-backed securities

     177,196         3,824         (2,036     178,984   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total securities

   $ 312,476       $ 7,843       $ (4,151   $ 316,168   
  

 

 

    

 

 

    

 

 

   

 

 

 

December 31, 2012:

          

U.S. government agencies

   $ 6,605       $ 271       $ (6   $ 6,870   

State, county and municipal securities

     109,736         4,864         (210     114,390   

Corporate debt securities

     10,545         330         (547     10,328   

Mortgage-backed securities

     209,824         5,701         (204     215,321   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total securities

   $ 336,710       $ 11,166       $ (967   $ 346,909   
  

 

 

    

 

 

    

 

 

   

 

 

 

June 30, 2012:

          

U.S. government agencies

   $ 8,602       $ 296       $ —        $ 8,898   

State, county and municipal securities

     95,354         5,047         (74     100,327   

Corporate debt securities

     11,792         231         (517     11,506   

Mortgage-backed securities

     239,412         7,032         (195     246,249   
  

 

 

    

 

 

    

 

 

   

 

 

 

Total securities

   $ 355,160       $ 12,606       $ (786   $ 366,980   
  

 

 

    

 

 

    

 

 

   

 

 

 
Amortized Cost and Fair Value of Available-for-Sale Securities by Contractual Maturity

The amortized cost and fair value of available-for-sale securities at June 30, 2013 by contractual maturity are summarized in the table below. Expected maturities for mortgage-backed securities may differ from contractual maturities because in certain cases borrowers can prepay obligations without prepayment penalties. Therefore, these securities are not included in the following maturity summary:

 

     Amortized
Cost
     Fair
Value
 
     (Dollars in Thousands)  

Due in one year or less

   $ 3,026       $ 3,029   

Due from one year to five years

     37,087         38,668   

Due from five to ten years

     64,362         64,876   

Due after ten years

     30,805         30,611   

Mortgage-backed securities

     177,196         178,984   
  

 

 

    

 

 

 
   $ 312,476       $ 316,168   
  

 

 

    

 

 

 
Schedule of Gross Unrealized Losses and Fair Value of Securities

The following table details the gross unrealized losses and fair value of securities aggregated by category and duration of continuous unrealized loss position at June 30, 2013, December 31, 2012 and June 30, 2012.

 

     Less Than 12 Months     12 Months or More     Total  
Description of Securities    Fair
Value
     Unrealized
Losses
    Fair
Value
     Unrealized
Losses
    Fair
Value
     Unrealized
Losses
 
     (Dollars in Thousands)  

June 30, 2013:

               

U.S. government agencies

   $ 14,335       $ (609   $ —         $ —        $ 14,335       $ (609

State, county and municipal securities

     36,268         (726     497         (16     36,765         (742

Corporate debt securities

     —           —          4,333         (764     4,333         (764

Mortgage-backed securities

     68,031         (2,036     925         —          68,956         (2,036
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

Total temporarily impaired securities

   $ 118,634       $ (3,371   $ 5,755       $ (780   $ 124,389       $ (4,151
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

December 31, 2012:

               

U.S. government agencies

   $ 4,994       $ (6   $ —         $ —        $ 4,994       $ (6

State, county and municipal securities

     15,595         (199     505         (11     16,100         (210

Corporate debt securities

     —           —          4,560         (547     4,560         (547

Mortgage-backed securities

     23,951         (181     3,617         (23     27,568         (204
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

Total temporarily impaired securities

   $ 44,540       $ (386   $ 8,682       $ (581   $ 53,222       $ (967
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

June 30, 2012:

               

U.S. government agencies

   $ —         $ —        $ —         $ —        $ —         $ —     

State, county and municipal securities

     10,342         (74     —           —          10,342         (74

Corporate debt securities

     —           —          6,562         (517     6,562         (517

Mortgage-backed securities

     31,680         (167     5,040         (28     36,720         (195
  

 

 

    

 

 

   

 

 

    

 

 

   

 

 

    

 

 

 

Total temporarily impaired securities

   $ 42,022       $ (241   $ 11,602       $ (545   $ 53,624       $ (786