Securities (Tables)

9 Months Ended

Sep. 30, 2013

Securities [Abstract]

Schedule of amortized cost and estimated fair value of investments in debt securities

The amortized cost and estimated fair value of investments in debt and equity securities at September 30, 2013 and December 31, 2012 were as follows:

	September 30, 2013
(in thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Securities available for sale:
Federal agencies and GSEs	$	59,897	$	191	$	296	$	59,792
Mortgage-backed and CMOs		69,107		1,185		405		69,887
State and municipal		199,692		6,730		470		205,952
Corporate		11,037		2		162		10,877
Equity securities		1,000		110		-		1,110
Total securities available for sale	$	340,733	$	8,218	$	1,333	$	347,618

	December 31, 2012
(in thousands)	Amortized Cost			Unrealized  Gains			Unrealized Losses			Estimated Fair Value
Securities available for sale:
Federal agencies and GSE		$	42,458		$	306		$	5		$	42,759
Mortgage-backed and CMOs			81,585			1,829			106			83,308
State and municipal			189,810			12,935			14			202,731
Corporate			6,317			131			-			6,448
Total securities available for sale		$	320,170		$	15,201		$	125		$	335,246

Schedule of available for sale securities, continuous unrealized loss position

Available for sale securities that have been in a continuous unrealized loss position are as follows:

	Total				Less than 12 Months				12 Months or More
(in thousands)	Estimated Fair Value		Unrealized Loss		Estimated Fair Value		Unrealized Loss		Estimated Fair Value		Unrealized Loss
Federal agencies and GSEs	$	29,406	$	296	$	29,406	$	296	$	-	$	-
Mortgage-backed and CMOs		19,528		405		13,980		311		5,548		94
State and municipal		30,064		470		28,629		465		1,435		5
Corporate		9,720		162		9,720		162		-		-
Total	$	88,718	$	1,333	$	81,735	$	1,234	$	6,983	$	99

The table below shows gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities had been in a continuous unrealized loss position, at December 31, 2012.

	Total				Less than 12 Months				12 Months or More
(in thousands)	Estimated Fair Value		Unrealized Loss		Estimated Fair Value		Unrealized Loss		Estimated Fair Value		Unrealized Loss
Federal agencies and GSEs	$	5,501	$	5	$	5,501	$	5	$	-	$	-
Mortgage-backed and CMOs		16,353		106		12,941		42		3,412		64
State and municipal		4,329		14		4,329		14		-		-
Total	$	26,183	$	125	$	22,771	$	61	$	3,412	$	64