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Securities (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2014 and December 31, 2013 follows:
 
At June 30, 2014
 
Amortized 
Cost
 
Unrealized Gains
 
Unrealized Losses
 
Fair
Value
 
(Dollars in thousands)
Securities available for sale:
 
 
 
 
 
 
 
U.S. Government agencies and corporations
$
61,547

 
$
—

 
$
(2,916
)
 
$
58,631

Mortgage backed securities: residential
98,829

 
1,422

 
(720
)
 
99,531

Residential collateralized mortgage obligations
27,001

 
171

 
(184
)
 
26,988

State and political subdivisions
33,010

 
1,486

 
(224
)
 
34,272

Total Securities
$
220,387

 
$
3,079

 
$
(4,044
)
 
$
219,422

 
 
 
 
 
 
 
 
 
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

Residential 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 collateralized mortgage obligations are not due at a single maturity date and are therefore shown separately.
 
At June 30, 2014
  
Amortized Cost
 
Fair
Value
 
(Dollars in thousands)
Securities available for sale:
 
 
 
Due in one year or less
$
20,999

 
$
19,859

Due from one year to five years
37,415

 
37,311

Due from five years to ten years
30,549

 
29,974

Due after ten years
5,594

 
5,759

Mortgage backed securities and Residential collateralized mortgage obligations
125,830

 
126,519

 
$
220,387

 
$
219,422
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.
 
June 30,
 
2014
 
2013
 
(Dollars in thousands)
Gross realized gains
$
—

 
$
178

Gross realized losses
(5
)
 
—

Net Securities Gains
$
(5
)
 
$
178

Proceeds from the sale of available for sale securities
$
2,327

 
$
2,272
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 June 30, 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
$
1,282

 
$
(7
)
 
$
57,349

 
$
(2,909
)
 
$
58,631

 
$
(2,916
)
Mortgage backed securities: residential
7,007

 
(21
)
 
35,327

 
(699
)
 
42,334

 
(720
)
Residential collateralized mortgage obligations
5,158

 
(26
)
 
4,287

 
(158
)
 
9,445

 
(184
)
State and political subdivisions
1,580

 
(14
)
 
4,423

 
(210
)
 
6,003

 
(224
)
Total
$
15,027

 
$
(68
)
 
$
101,386

 
$
(3,976
)
 
$
116,413

 
$
(4,044
)
 
 
 
 
 
 
 
 
 
 
 
 
 
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
)
Residential 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
)