Investments (Tables)

6 Months Ended

Jun. 30, 2012

Investments [Abstract]

Aggregate Carrying And Approximate Market Values Of Available-For-Sale Securities

	June 30, 2012				December 31, 2011
(In thousands)	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value
Securities available-for-sale:
U.S. Treasuries and U.S.
government agencies	$5,332	$118	$-	$5,450	$5,868	$173	$-	$6,041
Obligations of states and
political subdivisions	52,197	1,755	19	53,933	55,262	1,561	21	56,802
Mortgage-backed
securities:
U.S. government
agencies	239,859	7,119	24	246,954	220,815	6,966	168	227,613
Private label	4,080	44	28	4,096	5,117	45	6	5,156
Trust preferred
securities	50,668	448	3,988	47,128	48,951	941	4,735	45,157
Corporate securities	14,203	162	830	13,535	16,226	160	1,988	14,398
Total Debt Securities	366,339	9,646	4,889	371,096	352,239	9,846	6,918	355,167
Marketable equity
securities	4,105	231	321	4,015	4,318	-	465	3,853
Investment funds	1,724	56	-	1,780	1,724	39	-	1,763
Total Securities
Available-for-Sale	$372,168	$9,933	$5,210	$376,891	$358,281	$9,885	$7,383	$360,783

Aggregate Carrying And Approximate Market Values Of Held-To-Maturity Securities

	June 30, 2012				December 31, 2011
(In thousands)	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Estimated Fair Value
Securities held-to-maturity
Trust preferred securities	$19,319	$504	$196	$19,627	$23,458	$675	$710	$23,423
Total Securities
Held-to-Maturity	$19,319	$504	$196	$19,627	$23,458	$675	$710	$23,423
Other investment securities:
Non-marketable equity
Securities	$11,686	$-	$ -	$11,686	$11,934	$-	$-	$11,934
Total Other Investment
Securities	$11,686	$-	$ -	$11,686	$11,934	$-	$-	$11,934

Gross Unrealized Losses And Fair Value Of Investments

	June 30, 2012
	Less Than Twelve Months		Twelve Months or Greater		Total
(In thousands)	Estimated Fair Value	Unrealized Loss	Estimated Fair Value	Unrealized Loss	Estimated Fair Value	Unrealized Loss
Securities available-for-sale:
Obligations of states and political subdivisions	$2,522	$17	$266	$2	$2,788	$19
Mortgage-backed securities:
U.S. government agencies	31	-	3,607	24	3,638	24
Private label	2,606	28	-	-	2,606	28
Trust preferred securities	7,670	115	5,430	3,873	13,100	3,988
Corporate securities	-	-	5,867	830	5,867	830
Marketable equity securities	1,374	321	-	-	1,374	321
Total	$14,203	$481	$15,170	$4,729	$29,373	$5,210
Securities held-to-maturity:
Trust preferred securities	$991	$4	$3,199	$192	$4,190	$196

	December 31, 2011
	Less Than Twelve Months		Twelve Months or Greater		Total
(In thousands)	Estimated Fair Value	Unrealized Loss	Estimated Fair Value	Unrealized Loss	Estimated Fair Value	Unrealized Loss
Securities available-for-sale:
Obligations of states and political subdivisions	$992	$11	$394	$10	$1,386	$21
Mortgage-backed securities:
US Government agencies	-	-	4,333	168	4,333	168
Private label	3,236	6	-	-	3,236	6
Trust preferred securities	6,724	520	5,402	4,215	12,126	4,735
Corporate securities	1,791	241	4,941	1,747	6,732	1,988
Marketable equity securities	3,810	465	-	-	3,810	465
Total	$16,553	$1,243	$15,070	$6,140	$31,623	$7,383
Securities held-to-maturity:
Trust preferred securities	$4,823	$212	$8,219	$498	$13,042	$710

Credit Loss Component Of OTTI On Debt Securities Recognized In Earnings

(In thousands)	Debt Securities	Equity Securities	Total
Balance at January 1, 2011	$20,893	$5,130	$26,023
Additions:
Initial credit impairment	-	-	-
Additional credit impairment	355	918	1,273
Deductions:
Called	(638)	-	(638)
Balance December 31, 2011	20,610	6,048	26,658
Additions:
Initial credit impairment	-	-	-
Additional credit impairment	304	-	304
Deductions:
Sold	-	(786)	(786)
Balance June 30, 2012	$20,914	$5,262	$26,176

Additional Information Of Trust Preferred Securities With Credit Rating Below Investment Grade

(Dollars in thousands)

Deal Name	Type	Class	Original Cost	Amortized Cost	Fair Value	Difference (1)	Lowest Credit Rating	# of issuers currently performing	Actual deferrals/defaults (as a % of original dollar)	Expected deferrals/defaults (as a % of remaining of performing collateral)		Excess Subordination as a Percentage of Current Performing Collateral (4)
	Pooled trust preferred securities:
	Other-than-temporarily impaired
	Available for Sale:
P1	Pooled	Mezz	$1,158	$490	$222	$(268)	Ca	14	26.1%	17.6%	(2)	20.0%
P2	Pooled	Mezz	3,944	1,197	776	(421)	Ca	13	25.9%	22.5%	(2)	9.1%
P3(5)	Pooled	Mezz	2,962	1,419	373	(1,046)	Caa3	24	24.5%	21.8%	(2)	0.0%
P4(6)	Pooled	Mezz	4,060	672	209	(463)	Ca	11	24.2%	0.0%	(3)	0.0%
P5	Pooled	Mezz	5,806	826	335	(491)	Ca	14	27.5%	21.7%	(2)	16.4%
	Held to Maturity:
P6	Pooled	Mezz	2,241	315	445	130	Ca	14	26.1%	17.6%	(2)	20.0%
P7	Pooled	Mezz	5,237	1,061	1,035	(26)	Ca	13	25.9%	22.5%	(2)	9.1%
	Single issuer trust preferredsecurities
	Available for sale:
S1	Single		2,048	2,028	2,049	21	BB+	1	-	-
S2	Single		535	509	511	2	BB+	1	-	-
S3	Single		261	235	128	(107)	NR	1	-	-
S4	Single		3,000	3,000	3,060	60	B2	1	-	-
S5	Single		1,000	1,000	1,038	38	B2	1	-	-
	Held to Maturity:
S6	Single		4,000	4,000	4,000	-	NR	1	-	-
S7	Single		3,360	3,101	2,940	(161)	NR	1	-	-
S8	Single		3,564	3,533	3,544	11	NR	1	-	-

(1)	The differences noted consist of unrealized losses recorded at June 30, 2012 and noncredit other-than-temporary impairment losses recorded subsequent to April 1, 2009 that have not been reclassified as credit losses.
(2)	Performing collateral is defined as total collateral minus all collateral that has been called, is currently deferring, or currently in default. This model for this security assumes that all collateral that is currently deferring will default with a zero recovery rate. The underlying issuers can cure, thus this bond could recover at a higher percentage upon default than zero.
(3)	Performing collateral is defined as total collateral minus all collateral that has been called, is currently deferring, or currently in default.The model for this security assumes that one of the banks that are currently deferring will cure by June 2013.If additional underlying issuers cure, this bond could recover at a higher percentage.
(4)	Excess subordination is defined as the additional defaults/deferrals necessary in the next reporting period to deplete the entire credit enhancement (excess interest and over-collateralization) beneath our tranche within each pool to the point that would cause a "break in yield." This amount assumes that all currently performing collateral continues to perform. A break in yield means that our security would not be expected to receive all the contractual cash flows (principal and interest) by maturity. The "percent of current performing collateral" is the ratio of the "excess subordination amount" to current performing collateral—a higher percent means there is more excess subordination to absorb additional defaults/deferrals, and the better our security is protected from loss.
(5)	Other-than-temporary impairment losses of $11,000 were recognized during the six months ended June 30, 2012.Other-than-temporary impairment losses of $115,000 were recognized during the year ended December 31, 2011.
(6)	Other-than-temporary impairment losses of $293,000 were recognized during the six months ended June 30, 2012.Other-than-temporary impairment losses of $240,000 were recognized during the year ended December 31, 2011.

Amortized Cost And Estimated Fair Value Of Debt Securities By Contractual Maturity

(In thousands)	Cost	Estimated Fair Value
Securities Available-for-Sale
Due in one year or less	$8,374	$8,344
Due after one year through five years	38,693	39,656
Due after five years through ten years	46,229	47,485
Due after ten years	273,043	275,611
	$366,339	$371,096
Securities Held-to-Maturity
Due in one year or less	$-	$-
Due after one year through five years	-	-
Due after five years through ten years	-	-
Due after ten years	19,319	19,627
	$19,319	$19,627