Investment Securities (Tables)

3 Months Ended

Mar. 31, 2015

Investment securities as of March 31, 2015 and December 31, 2014 are summarized as follows:

March 31, 2015	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Securities Available for Sale:
U.S. Government Agencies Mortgage-Backed	$	280,163	$	406	$	(4,598	)	$	275,971
State, County & Municipal		3,163		33		(28	)		3,168
	$	283,326	$	439	$	(4,626	)	$	279,139
Securities Held to Maturity:
State, County and Municipal	$	31	$	-	$	-		$	31

December 31, 2014	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Securities Available for Sale:
U.S. Government Agencies Mortgage-Backed	$	278,419	$	156	$	(7,511	)	$	271,064
State, County & Municipal		3,516		27		(13	)		3,530
	$	281,935	$	183	$	(7,524	)	$	274,594
Securities Held to Maturity:
State, County and Municipal	$	30	$	-	$	-		$	30

Amortized cost and fair value of investment securities by contractual maturity

The amortized cost and fair value of investment securities as of March 31, 2015, 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	$	215	$	215	$	31	$	31
Due After One Year Through Five Years		719		729		-		-
Due After Five Years Through Ten Years		1,050		1,038		-		-
Due After Ten Years		1,179		1,186		-		-
	$	3,163	$	3,168	$	31	$	31

Mortgage-Backed Securities		280,163		275,971		-		-
	$	283,326	$	279,139	$	31	$	31

Invested securities in a continuous unrealized loss position

Information pertaining to securities with gross unrealized losses at March 31, 2015 and December 31, 2014 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
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses

March 31, 2015
U.S. Government Agencies Mortgage-Backed	$	37,934	$	(141	)	$	159,595	$	(4,457	)	$	197,529	$	(4,598	)
State, County and Municipal		691		(7	)		820		(21	)		1,511		(28	)
	$	38,625	$	(148	)	$	160,415	$	(4,478	)	$	199,040	$	(4,626	)

December 31, 2014
U.S. Government Agencies Mortgage-Backed	$	66,609	$	(397	)	$	183,646	$	(7,114	)	$	250,255	$	(7,511	)
State, County and Municipal		-		-			1,379		(13	)		1,379		(13	)
	$	66,609	$	(397	)	$	185,025	$	(7,127	)	$	251,634	$	(7,524	)