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Securities (Tables)
 3 Months Ended
Mar. 31, 2014
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 March 31, 2014 and December 31, 2013 follows:
 
March 31, 2014
 
Amortized 
Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair
Value
 
(Dollars in thousands)
Securities available for sale:
 
 
 
 
 
 
 
U.S. Government agencies and corporations
$
71,683

 
$
—

 
$
(4,242
)
 
$
67,441

Mortgage backed securities: residential
94,222

 
1,360

 
(1,063
)
 
94,519

Collateralized mortgage obligations
22,163

 
247

 
(271
)
 
22,139

State and political subdivisions
32,503

 
1,273

 
(365
)
 
33,411

Total Securities
$
220,571

 
$
2,880

 
$
(5,941
)
 
$
217,510

 
 
 
 
 
 
 
 
 
At December 31, 2013
 
Amortized 
Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair
Value
 
(Dollars in thousands)
Securities available for sale:
 
 
 
 
 
 
 
U.S. Government agencies and corporations
$
71,851

 
$
—

 
$
(6,463
)
 
$
65,388

Mortgage backed securities: residential
94,313

 
1,362

 
(1,245
)
 
94,430

Collateralized mortgage obligations
18,650

 
255

 
(250
)
 
18,655

State and political subdivisions
32,521

 
1,137

 
(693
)
 
32,965

Preferred securities
4,684

 
—

 
—

 
4,684

Total Securities
$
222,019

 
$
2,754

 
$
(8,651
)
 
$
216,122
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 March 31, 2014
  
Amortized Cost
 
Fair
Value
 
(Dollars in thousands)
Securities available for sale:
 
 
 
Due in one year or less
$
22,033

 
$
21,144

Due from one year to five years
46,819

 
45,340

Due from five years to ten years
29,740

 
28,680

Due after ten years
5,594

 
5,687

Mortgage backed securities and collateralized mortgage obligations
116,385

 
116,659

 
$
220,571

 
$
217,510
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.
 
March 31,
 
2014
 
2013
 
(Dollars in thousands)
Gross realized gains
$
—

 
$
178

Gross realized losses
—

 
—

Net Securities Gains
$
—

 
$
178

Proceeds from the sale of available for sale securities
$
—

 
$
2,280
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 March 31, 2014
 
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
$
58,282

 
$
(3,405
)
 
$
9,159

 
$
(837
)
 
$
67,441

 
(4,242
)
Mortgage backed securities: residential
29,332

 
(454
)
 
24,875

 
(609
)
 
54,207

 
(1,063
)
Collateralized mortgage obligations
6,741

 
(86
)
 
4,287

 
(185
)
 
11,028

 
(271
)
State and political subdivisions
7,526

 
(316
)
 
488

 
(49
)
 
8,014

 
(365
)
Total
$
101,881

 
$
(4,261
)
 
$
38,809

 
$
(1,680
)
 
$
140,690

 
$
(5,941
)
 
 
 
 
 
 
 
 
 
 
 
 
 
At December 31, 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
$
65,388

 
$
(6,463
)
 
$
—

 
$
—

 
$
65,388

 
$
(6,463
)
Mortgage backed securities: residential
28,603

 
(566
)
 
31,051

 
(679
)
 
59,654

 
(1,245
)
Collateralized mortgage
obligations
5,079

 
(59
)
 
4,411

 
(191
)
 
9,490

 
(250
)
State and political subdivisions
9,188

 
(602
)
 
447

 
(91
)
 
9,635

 
(693
)
Total
$
108,258

 
$
(7,690
)
 
$
35,909

 
$
(961
)
 
$
144,167

 
$
(8,651
)