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Securities (Tables)
 9 Months Ended
Sep. 30, 2013
Investments, Debt and Equity Securities [Abstract]  
Amortized Cost, Gross Unrealized Gains and Losses and Fair Values of Securities Available for Sale
The amortized cost, gross unrealized gains and losses and fair values of securities at September 30, 2013 and December 31, 2012 follows:
 
At September 30, 2013
 
Amortized 
Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair
Value
 
(Dollars in thousands)
Securities available for sale:
 
 
 
 
 
 
 
U.S. Government agencies and corporations
$
72,099

 
$
—

 
$
(5,220
)
 
$
66,879

Mortgage backed securities
95,625

 
1,494

 
(1,307
)
 
95,812

Collateralized mortgage obligations
14,592

 
256

 
(197
)
 
14,651

State and political subdivisions
32,624

 
1,254

 
(614
)
 
33,264

Preferred Securities
4,684

 
—

 
—

 
4,684

Total Securities
$
219,624

 
$
3,004

 
$
(7,338
)
 
$
215,290

 
 
 
 
 
 
 
 
 
At December 31, 2012
 
Amortized 
Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair
Value
 
(Dollars in thousands)
Securities available for sale:
 
 
 
 
 
 
 
U.S. Government agencies and corporations
$
36,868

 
$
102

 
$
—

 
$
36,970

Mortgage backed securities
109,440

 
2,589

 
(328
)
 
111,701

Collateralized mortgage obligations
22,483

 
398

 
—

 
22,881

State and political subdivisions
29,980

 
2,241

 
(10
)
 
32,211

Total Securities
$
198,771

 
$
5,330

 
$
(338
)
 
$
203,763
Amortized Cost and Fair Value of the Debt Securities Portfolio are Shown by Expected Maturity
Mortgage backed securities and collaterlized mortgage obligations are not due at a single maturity date and are therefore shown separately.
 
At September 30, 2013
  
Amortized Cost
 
Fair
Value
 
(Dollars in thousands)
Securities available for sale:
 
 
 
Due in one year or less
$
20,298

 
$
19,639

Due from one year to five years
57,534

 
54,482

Due from five years to ten years
25,488

 
24,649

Due after ten years
6,087

 
6,057

Mortgage backed securities and collateralized mortgage obligations
110,217

 
110,463

 
$
219,624

 
$
215,290
Realized Gains and Losses Related to Securities Available-for-Sale
Gains or losses on the sales of available-for-sale securities are recognized upon sale and are determined using the specific identification method.
 
September 30,
 
2013
 
2012
 
(Dollars in thousands)
Gross realized gains
$
178

 
$
46

Gross realized losses
—

 
—

Net Securities Gains
$
178

 
$
46

Proceeds from the sale of available for sale securities
$
2,272

 
$
5,050
Summary of Securities that had Unrealized Losses
The Corporation has the intent and the ability to hold these securities until their value recovers, which may be until maturity.
 
 
At September 30, 2013
 
Less than 12 months
 
12 months or longer
 
Total
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
(Dollars in thousands)
U.S. Government agencies and corporations
$
66,879

 
$
(5,220
)
 
$
—

 
$
—

 
$
66,879

 
(5,220
)
Mortgage backed securities
$
43,533

 
$
(1,020
)
 
$
12,979

 
$
(287
)
 
$
56,512

 
(1,307
)
Collateralized mortgage obligations
6,665

 
(197
)
 
—

 
—

 
6,665

 
(197
)
State and political subdivisions
9,727

 
(614
)
 
—

 
—

 
9,727

 
(614
)
Total
$
126,804

 
$
(7,051
)
 
$
12,979

 
$
(287
)
 
$
139,783

 
$
(7,338
)
 
 
 
 
 
 
 
 
 
 
 
 
 
At December 31, 2012
 
Less than 12 months
 
12 months or longer
 
Total
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
(Dollars in thousands)
Mortgage backed securities
$
44,491

 
$
(328
)
 
$
—

 
$
—

 
$
44,491

 
$
(328
)
State and political subdivisions
1,062

 
(10
)
 
—

 
—

 
1,062

 
(10
)
Total
$
45,553

 
$
(338
)
 
$
—

 
$
—

 
$
45,553

 
$
(338
)