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SECURITIES (Tables)

9 Months Ended

Sep. 30, 2013

Summary of available-for-sale securities

Information related to the fair value and amortized cost of securities available for sale and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) is provided in the tables below.

			Gross		Gross
	Fair		Unrealized		Unrealized		Amortized
	Value		Gain		Losses		Cost
September 30, 2013
U.S. Treasury securities	$	1,022	$	20	$	0	$	1,002
Agency residential mortgage-backed securities		369,311		5,613		(6,183)		369,881
State and municipal securities		92,737		2,810		(1,816)		91,743
Total	$	463,070	$	8,443	$	(7,999)	$	462,626

December 31, 2012
U.S. Treasury securities	$	1,037	$	35	$	0	$	1,002
U.S. government sponsored agencies		5,304		278		0		5,026
Agency residential mortgage-backed securities		365,644		7,813		(1,495)		359,326
Non-agency residential mortgage-backed securities		6,453		242		0		6,211
State and municipal securities		88,583		5,509		(189)		83,263
Total	$	467,021	$	13,877	$	(1,684)	$	454,828

Schedule of available-for-sale securities by maturity

Actual maturities of securities may differ from contractual maturities because borrowers may have the right to prepay the obligation without a prepayment penalty.

	Amortized		Fair
	Cost		Value
Due in one year or less	$	4,168	$	4,238
Due after one year through five years		15,691		16,618
Due after five years through ten years		40,061		40,987
Due after ten years		32,825		31,916
		92,745		93,759
Mortgage-backed securities		369,881		369,311
Total debt securities	$	462,626	$	463,070

Schedule of sales of securities available for sale

Security proceeds, gross gains and gross losses are presented below.

	Nine months ended September 30,
	2013		2012
Sales of securities available for sale
Proceeds	$	29,996	$	27,493
Gross gains		1,078		823
Gross losses		(972)		(1,203)

	Three months ended September 30,
	2013		2012
Sales of securities available for sale
Proceeds	$	29,996	$	27,493
Gross gains		1,078		823
Gross losses		(972)		(1,203)

Schedule of available-for-sale securities continuous unrealized loss position

Information regarding securities with unrealized losses as of September 30, 2013 and December 31, 2012 is presented below. The tables divide the securities between those with unrealized losses for less than twelve months and those with unrealized losses for twelve months or more.

	Less than 12 months				12 months or more				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
September 30, 2013

Agency residential mortgage- backed securities	$	163,795	$	(5,825)	$	17,358	$	(358)	$	181,153	$	(6,183)
State and municipal securities		25,130		(1,816)		0		0		25,130		(1,816)
Total temporarily impaired	$	188,925	$	(7,641)	$	17,358	$	(358)	$	206,283	$	(7,999)

December 31, 2012

Agency residential mortgage- backed securities	$	92,974	$	(1,066)	$	20,422	$	(429)	$	113,396	$	(1,495)
State and municipal securities		10,791		(188)		50		(1)		10,841		(189)
Total temporarily impaired	$	103,765	$	(1,254)	$	20,472	$	(430)	$	124,237	$	(1,684)

Quantitative disclosure of available-for-sale securities

The number of securities with unrealized losses as of September 30, 2013 and December 31, 2012 is presented below.

	Less than	12 months
	12 months	or more	Total
September 30, 2013

Agency residential mortgage-backed securities	45	7	52
State and municipal securities	56	0	56
Total temporarily impaired	101	7	108

	Less than	12 months
	12 months	or more	Total
December 31, 2012

Agency residential mortgage-backed securities	29	9	38
State and municipal securities	29	1	30
Total temporarily impaired	58	10	68

Schedule of debt securities credit loss recognized

The table represents the three months and nine months ended September 30, 2013 and 2012.

	Three Months Ended September 30,
	2013		2012
Balance July 1,	$	0	$	1,318
Additions related to other-than-temporary impairment losses not previously recognized		0		0
Additional increases to the amount of credit loss for which other-than-temporary impairment was previously recognized		0		67
Reductions for previous credit losses realized on securities sold during the year		0		(1,385)
Balance September 30,	$	0	$	0

	Nine Months Ended September 30,
	2013		2012
Balance January 1,	$	0	$	359
Additions related to other-than-temporary impairment losses not previously recognized		0		747
Additional increases to the amount of credit loss for which other-than-temporary impairment was previously recognized		0		279
Reductions for previous credit losses realized on securities sold during the year		0		(1,385)
Balance September 30,	$	0	$	0

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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- Definition

Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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