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INVESTMENT SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2012
INVESTMENT SECURITIES [Abstract]  
Schedule of Amortized Cost, Related Estimated Fair Value, and Unrealized Gains and Losses for Investment Securities
    Available-for-Sale Securities  
(Amounts in thousands)         Gross     Gross     Estimated  
    Amortized     Unrealized     Unrealized     Fair  
December 31, 2012:     Cost       Gains       Losses     Value  
Obligations of U.S. Government Corporations and Agencies:                                
Mortgage-backed   $ 41,946     $ 2,090     $ (193 )   $ 43,843  
Other     29,076       159       (203 )     29,032  
Obligations of state and political subdivisions     160,829       16,163       (39 )     176,953  
Corporate securities     43,902       673       (68 )     44,507  
Marketable equity securities     1,533       454       (10 )     1,977  
Restricted equity securities     4,883       0       0       4,883  
Total   $ 282,169     $ 19,539     $ (513 )   $ 301,195  

 

    Held-to-Maturity Securities  
(Amounts in thousands)         Gross     Gross     Estimated  
    Amortized     Unrealized     Unrealized     Fair  
December 31, 2012:     Cost       Gains       Losses     Value  
Obligations of U.S. Government Corporations and Agencies:                                
Mortgage-backed   $ 88     $ 4     $ 0     $ 92  
Other     2,006       24       0       2,030  
Obligations of state and political subdivisions     467       10       0       477  
Total   $ 2,561     $ 38     $ 0     $ 2,599  

 

    Available-for-Sale Securities  
(Amounts in thousands)         Gross     Gross     Estimated  
    Amortized     Unrealized     Unrealized     Fair  
December 31, 2011:   Cost     Gains     Losses     Value  
Obligations of U.S. Government Corporations and Agencies:                                
Mortgage-backed   $ 64,892     $ 2,930     $ (41 )   $ 67,781  
Other     13,187       94       (6 )     13,275  
Obligations of state and political subdivisions     177,139       11,846       (2,200 )     186,785  
Corporate securities     60,263       373       (1,394 )     59,242  
Marketable equity securities     1,574       292       (125 )     1,741  
Restricted equity securities     5,189       0       0       5,189  
Total   $ 322,244     $ 15,535     $ (3,766 )   $ 334,013  

 

    Held-to-Maturity Securities  
(Amounts in thousands)         Gross     Gross     Estimated  
    Amortized     Unrealized     Unrealized     Fair  
December 31, 2011:   Cost     Gains     Losses     Value  
Obligations of U.S. Government Corporations and Agencies:                                
Mortgage-backed   $ 124     $ 4     $ 0     $ 128  
Other     2,014       46       0       2,060  
Obligations of state and political subdivisions     467       11       0       478  
Total   $ 2,605     $ 61     $ 0     $ 2,666  
Schedule of Amortized Cost, Estimated Fair Value and Weighted Average Yield of Debt Securities, by Contractual Maturity
    December 31, 2012  
    U.S. Government     Obligations                    
    Corporations &     of State     Marketable     Restricted        
    Agencies     & Political     Equity     Equity     Corporate  
    Obligations1     Subdivisions2     Securities3     Securities3     Securities  
Available-For-Sale:                                        
Within 1 Year:                                        
Amortized cost   $ 0     $ 200     $ 0     $ 0     $ 17,150  
Estimated fair value     0       201       0       0       17,238  
Weighted average yield     0       6.83 %     0       0       3.09 %
1 - 5 Years:                                        
Amortized cost     12,120       3,237       0       0       25,261  
Estimated fair value     12,233       3,452       0       0       25,720  
Weighted average yield     1.03 %     4.65 %     0       0       2.28 %
5 - 10 Years:                                        
Amortized cost     3,677       10,948       0       0       1,491  
Estimated fair value     3,954       12,279       0       0       1,549  
Weighted average yield     4.66 %     5.52 %     0       0       5.76 %
After 10 Years:                                        
Amortized cost     55,225       146,444       1,533       4,883       0  
Estimated fair value     56,688       161,021       1,977       4,883       0  
Weighted average yield     3.04 %     6.30 %     3.93 %     0.19 %     0  
Total:                                        
Amortized cost   $ 71,022     $ 160,829     $ 1,533     $ 4,883     $ 43,902  
Estimated fair value     72,875       176,953       1,977       4,883       44,507  
Weighted average yield     2.78 %     6.21 %     3.93 %     0.19 %     2.72 %

_______________________

1Mortgage-backed securities are allocated for maturity reporting at their original maturity date.

2Average yields on tax-exempt obligations of state and political subdivisions have been computed on a tax-equivalent basis using a 34% tax rate.

3Marketable equity securities and restricted equity securities are not considered to have defined maturities and are included in the after ten year category.

 

(Amounts in thousands)

    December 31, 2012  
    U.S. Government     Obligations                    
    Corporations &     of State     Marketable     Restricted        
    Agencies     & Political     Equity     Equity     Corporate  
    Obligations1     Subdivisions2     Securities3     Securities3     Securities  
Held-to-Maturity:                                        
Within 1 Year:                                        
Amortized cost   $ 1,006     $ 0     $ 0     $ 0     $ 0  
Estimated fair value     1,017       0       0       0       0  
Weighted average yield     1.78 %     0       0       0       0  
1 - 5 Years:                                        
Amortized cost     1,088       0       0       0       0  
Estimated fair value     1,105       0       0       0       0  
Weighted average yield     0.93 %     0       0       0       0  
5 - 10 Years:                                        
Amortized cost     0       0       0       0       0  
Estimated fair value     0       0       0       0       0  
Weighted average yield     0       0       0       0       0  
After 10 Years:                                        
Amortized cost     0       467       0       0       0  
Estimated fair value     0       477       0       0       0  
Weighted average yield     0       7.14 %     0       0       0  
Total:                                        
Amortized cost   $ 2,094     $ 467     $ 0     $ 0     $ 0  
Estimated fair value     2,122       477       0       0       0  
Weighted average yield     1.34 %     7.14 %     0       0       0  

_______________________

 

1Mortgage-backed securities are allocated for maturity reporting at their original maturity date.

2Average yields on tax-exempt obligations of state and political subdivisions have been computed on a tax-equivalent basis using a 34% tax rate.

3Marketable equity securities and restricted equity securities are not considered to have defined maturities and are included in the after ten year category.
Schedule of Investment Securities That Have Been in Continuous Unrealized Loss Position for Less Than 12 Months or More Than 12 Months

December 31, 2012

    Less Than 12 Months     12 Months or More     Total  
    Fair     Unrealized     Fair     Unrealized     Fair     Unrealized  
(Amounts in thousands)   Value     Loss     Value     Loss     Value     Loss  
                                     
Direct obligations of the U.S. Government   $ 12,519     $ 203     $ 0     $ 0     $ 12,519     $ 203  
Mortgage-backed securities     10,174       193       0       0       10,174       193  
Municipal bonds     1,651       14       338       25       1,989       39  
Corporate securities     1,924       48       1,480       20       3,404       68  
Marketable equity securities     312       10       0       0       312       10  
    $ 26,580     $ 468     $ 1,818     $ 45     $ 28,398     $ 513  

 

December 31, 2011

    Less Than 12 Months     12 Months or More     Total  
    Fair     Unrealized     Fair     Unrealized     Fair     Unrealized  
(Amounts in thousands)   Value     Loss     Value     Loss     Value     Loss  
                                     
Direct obligations of the U.S. Government   $ 6,118     $ 6     $ 0     $ 0     $ 6,118     $ 6  
Mortgage-backed securities     7,806       41       0       0       7,806       41  
Municipal bonds     2,455       11       10,518       2,189       12,973       2,200  
Corporate securities     32,162       1,185       1,791       209       33,953       1,394  
Marketable equity securities     82       20       754       105       836       125  
    $ 48,623     $ 1,263     $ 13,063     $ 2,503     $ 61,686     $ 3,766