Investments (Tables)

3 Months Ended

Mar. 31, 2013

Investments [Abstract]

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

		March 31, 2013								December 31, 2012
(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	$	3,295	$	88	$	-	$	3,383	$	3,792	$	96	$	-	$	3,888
Obligations of states and
political subdivisions		44,311		1,508		18		45,801		47,293		1,651		15		48,929
Mortgage-backed securities:
U.S. government agencies		254,154		6,092		209		260,037		279,336		7,231		85		286,482
Private label		2,946		27		5		2,968		3,235		37		-		3,272
Trust preferred
securities		15,375		101		2,616		12,860		15,402		55		2,812		12,645
Corporate securities		16,146		347		-		16,493		16,152		207		412		15,947
Total Debt Securities		336,227		8,163		2,848		341,542		365,210		9,277		3,324		371,163
Marketable equity  securities		3,381		1,460		-		4,841		3,381		804		-		4,185
Investment funds		1,724		39		-		1,763		1,724		50		-		1,774
Total Securities
Available-for-Sale	$	341,332	$	9,662	$	2,848	$	348,146	$	370,315	$	10,131	$	3,324	$	377,122

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

		March 31, 2013								December 31, 2012
(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	$	8,383	$	545	$	7	$	8,921	$	13,454	$	465	$	58	$	13,861
Total Securities
Held-to-Maturity	$	8,383	$	545	$	7	$	8,921	$	13,454	$	465	$	58	$	13,861
Other investment securities:
Non-marketable equity securities	$	11,502	$	-	$	-	$	11,502	$	11,463	$	-	$	-	$	11,463
Total Other Investment
Securities	$	11,502	$	-	$	-	$	11,502	$	11,463	$	-	$	-	$	11,463

Gross Unrealized Losses And Fair Value Of Investments

		March 31, 2013
		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	$	1,131	$	18	$	-	$	-	$	1,131	$	18
Mortgage-backed securities:
U.S. Government agencies		25,709		209				-		25,709		209
Private label		1,938		5		-		-		1,938		5
Trust preferred securities		3,198		253		6,211		2,363		9,409		2,616
Total	$	31,976	$	485	$	6,211	$	2,363	$	38,187	$	2,848
Securities held-to-maturity:
Trust preferred securities	$	3,083	$	7	$	-	$	-	$	3,083	$	7

		December 31, 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	$	1,163	$	15	$	-	$	-	$	1,163	$	15
Mortgage-backed securities:
U.S. Government agencies		16,225		85		-		-		16,225		85
Trust preferred securities		348		51		5,836		2,761		6,184		2,812
Corporate securities		1,950		49		4,344		363		6,294		412
Total	$	19,686	$	200	$	10,180	$	3,124	$	29,866	$	3,324
Securities held-to-maturity:
Trust preferred securities	$	-	$	-	$	3,380	$	58	$	3,380	$	58

Credit Loss Component Of OTTI On Debt Securities Recognized In Earnings

(In thousands)		Debt Securities		Equity Securities		Total
Balance at January 1, 2012	$	20,610	$	6,048	$	26,658
Additions:
Initial credit impairment		-		-		-
Additional credit impairment		576		-		576
Deductions:
Sold		-		(1,235)		(1,235)
Balance December 31, 2012		21,186		4,813		25,999
Additions:
Initial credit impairment		-		-		-
Additional credit impairment		-		-		-
Deductions:
Sold		-		-		-
Balance March 31, 2013	$	21,186	$	4,813	$	25,999

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:
	Available for Sale:
P1	Pooled	Mezz	$             1,087	$                 425	$                225	(200)	Ca	9	19.5%	14.2%	(2)	25.9%
P2	Pooled	Mezz	3,944	1,197	1,041	(156)	Ca	10	25.9%	6.4%	(2)	11.5%
P3(5)	Pooled	Mezz	2,962	1,419	299	(1,120)	Caa3	22	24.5%	8.2%	(2)	12.2%
P4(6)	Pooled	Mezz	4,060	400	168	(232)	Ca	9	19.2%	8.2%	(3)	20.2%
P5	Pooled	Mezz	6,046	826	477	(349)	Ca	10	26.0%	21.0%	(2)	15.6%
	Held-to-Maturity:
P6	Pooled	Mezz	2,102	211	451	240	Ca	9	19.5%	14.2%	(2)	25.9%
P7	Pooled	Mezz	5,237	1,082	1,388	306	Ca	10	25.9%	6.4%	(2)	11.5%
	Single issuer trust preferred  securities
	Available for sale:
S1	Single		261	235	232	(3)	NR	1	-	-
S2	Single		1,000	1,000	1,034	34	Ba3	1	-	-
	Held-to-Maturity:
S3	Single		4,000	4,000	4,000	-	NR	1	-	-
S4	Single		3,360	3,091	3,083	(8)	NR	1	-	-

(1)	The differences noted consist of unrealized losses recorded at March 31, 2013 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.  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)	No other-than-temporary impairment losseswere recognized during the three months ended March 31, 2013.  Other-than-temporary impairment losses of $11,000 were recognized during the year ended December 31, 2012.
(6)	No other-than-temporary impairment losseswere recognized during the three months ended March 31, 2013.  Other-than-temporary impairment losses of $565,000 were recognized during the year ended December 31, 2012.

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		6,390		6,433
Due after one year through five years		27,166		27,635
Due after five years through ten years		49,244		51,234
Due after ten years		253,427		256,240
	$	336,227	$	341,542
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		8,383		8,921
	$	8,383	$	8,921