Investment Securities Available for Sale (Tables)

12 Months Ended

Dec. 31, 2012

Reconciliation of Available-for-Sale Securities

The following tables summarize the amortized cost, gross unrealized gains and losses included in accumulated other comprehensive income (loss) and fair values of investment securities available for sale at the dates indicated (in thousands). At December 31, 2012 and 2011, the Company did not have any investment securities classified as trading or held-to-maturity.

	December 31, 2012
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
State and municipal	$	11,247	$	283	$	—		$	11,530
Collateralized mortgage obligations (federal agencies)		122,444		1,219		(155	)		123,508
Other mortgage-backed (federal agencies)		62,581		1,328		(92	)		63,817
SBA loan-backed (federal agency)		65,828		182		(363	)		65,647
Total investment securities available for sale	$	262,100	$	3,012	$	(610	)	$	264,502

	December 31, 2011
	Amortized cost		Gross unrealized gains		Gross unrealized losses			Fair value
State and municipal	$	113,079	$	7,886	$	—		$	120,965
Collateralized mortgage obligations (federal agencies)		117,129		2,210		(390	)		118,949
Other mortgage-backed (federal agencies)		20,022		1,056		—			21,078
Total investment securities available for sale	$	250,230	$	11,152	$	(390	)	$	260,992

Reconciliation of Available for Sale Securities in Continuous Unrealized Loss Position

The following tables summarize securities in each category of investment securities available for sale that were in an unrealized loss position at the dates indicated (dollars in thousands).

	December 31, 2012
	Less than 12 months						12 months or longer						Total
	#		Fair value		Gross unrealized losses		#		Fair value		Gross unrealized losses		#		Fair value		Gross unrealized losses
Collateralized mortgage obligations (federal agencies)		7	$	23,301	$	109		9	$	9,547	$	46		16	$	32,848	$	155
Other mortgage-backed (federal agencies)		3		14,586		92		—		—		—		3		14,586		92
SBA loan-backed (federal agency)		6		25,115		363		—		—		—		6		25,115		363
Total investment securities available for sale		16	$	63,002	$	564		9	$	9,547	$	46		25	$	72,549	$	610

	December 31, 2011
	Less than 12 months						12 months or longer						Total
	#		Fair value		Gross unrealized losses		#		Fair value		Gross unrealized losses		#		Fair value		Gross unrealized losses
Collateralized mortgage obligations (federal agencies)		9	$	23,024	$	192		7	$	16,773	$	198		16	$	39,797	$	390
Total investment securities available for sale		9	$	23,024	$	192		7	$	16,773	$	198		16	$	39,797	$	390

Summary of Ratings by Segment of Investment Securities Available for Sale

The following table summarizes Moody’s ratings of investment securities available for sale, based on fair value, at December 31, 2012. An “Aaa” rating is based not only on the credit of the issuer but may also include consideration of the structure of the securities and the credit quality of the collateral.

	State and municipal			Collateralized mortgage obligations (federal agencies)			Other mortgage- backed (federal agencies)			SBA loan- backed (federal agency)
Aaa		—	%		100	%		100	%		100	%
Aa1-A1		73			—			—			—
Baa2		13			—			—			—
Not rated		14			—			—			—
Total		100	%		100	%		100	%		100	%

Summary of Ratings by Standards Poors of Investment Securities Available for Sale

The following table summarizes Standard and Poor’s ratings of investment securities available for sale, based on fair value, at December 31, 2012.

	State and municipal			Collateralized mortgage obligations (federal agencies)			Other mortgage- backed (federal agencies)			SBA loan- backed (federal agency)
Aa+		—	%		100	%		100	%		100	%
Aa-Aa-		41			—			—			—
Not rated		59			—			—			—
Total		100	%		100	%		100	%		100	%

Summary of Amortized Cost and estimated fair value of investment securities available for sale

The following table summarizes the amortized cost and fair value of state and municipal securities available for sale at December 31, 2012 by contractual maturity (in thousands). For other investment securities, expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Collateralized mortgage obligations, other mortgage-backed securities and SBA loan-backed securities are shown separately since they are not due at a single maturity date.

	Amortized cost		Fair value
Due in one year or less	$	3,765	$	3,802
Due after one year through five years		6,392		6,628
Due after five years through ten years		1,090		1,100
Due after ten years		—		—
State and municipal		11,247		11,530
Collateralized mortgage obligations (federal agencies)		122,444		123,508
Other mortgage-backed (federal agencies)		62,581		63,817
SBA loan-backed (federal agency)		65,828		65,647
Total investment securities available for sale	$	262,100	$	264,502

Summary of Investment securities pledged as collateral

Investment securities were pledged as collateral for the following purposes at the dates indicated (in thousands).

	December 31,
	2012		2011
Public funds deposits	$	106,642	$	119,123
Federal Reserve line of credit		1,583		5,510
FHLB advances		—		15,887
Total	$	108,225	$	140,520

Gross Realized Gains and Losses on Investment Securities Available for Sale

The following table summarizes the gross realized gains and losses from sales of investment securities available for sale for the periods indicated (in thousands).

	For the years ended December 31,
	2012			2011		2010
Realized gains	$	10,499		$	157	$	1,149
Realized losses		(5	)		—		(1,139	)
Net realized gains	$	10,494		$	157	$	10