Investment Securities (Tables)

9 Months Ended

Sep. 30, 2014

Investment securities as of September 30, 2014 and December 31, 2013 are summarized as follows:

September 30, 2014			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
Securities Available for Sale:
U.S. Government Agencies
Mortgage-Backed	$	279,533	$	182	$	(9,705	)	$	270,010
State, County & Municipal		3,544		21		(28	)		3,537
	$	283,077	$	203	$	(9,733	)	$	273,547
Securities Held to Maturity:
State, County and Municipal	$	33	$	-	$	-		$	33

December 31, 2013			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
Securities Available for Sale:
U.S. Government Agencies
Mortgage-Backed	$	273,029	$	119	$	(13,800	)	$	259,348
State, County & Municipal		3,979		15		(84	)		3,910
	$	277,008	$	134	$	(13,884	)	$	263,258
Securities Held to Maturity:
State, County and Municipal	$	37	$	-	$	-		$	37

Amortized cost and fair value of investment securities by contractual maturity

The amortized cost and fair value of investment securities as of September 30, 2014, by contractual maturity, are shown hereafter. Expected maturities will differ from contractual maturities because issuers have the right to call or prepay obligations with or without call or prepayment penalties. This is often the case with mortgage-backed securities, which are disclosed separately in the table below.

	Securities
	Available for Sale				Held to Maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value

Due In One Year or Less	$	718	$	721	$	-	$	-
Due After One Year Through Five Years		734		745		33		33
Due After Five Years Through Ten Years		1,169		1,160		-		-
Due After Ten Years		923		911		-		-
	$	3,544	$	3,537	$	33	$	33

Mortgage-Backed Securities		279,533		270,010		-		-
	$	283,077	$	273,547	$	33	$	33

Invested securities in a continuous unrealized loss position

Information pertaining to securities with gross unrealized losses at September 30, 2014 and December 31, 2013 aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows:

	Less Than 12 Months					12 Months or Greater					Total

			Gross					Gross					Gross
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Losses			Value		Losses			Value		Losses

September 30, 2014
U.S. Government Agencies
Mortgage-Backed	$	74,078	$	(602	)	$	178,358	$	(9,103	)	$	252,436	$	(9,705	)
State, County and Municipal		474		(6	)		1,380		(22	)		1,854		(28	)
	$	74,552	$	(608	)	$	179,738	$	(9,125	)	$	254,290	$	(9,733	)

December 31, 2013
U.S. Government Agencies
Mortgage-Backed	$	190,064	$	(9,441	)	$	63,194	$	(4,359	)	$	253,258	$	(13,800	)
State, County and Municipal		1,647		(84	)		-		-			1,647		(84	)
	$	191,711	$	(9,525	)	$	63,194	$	(4,359	)	$	254,905	$	(13,884	)