Investment Securities (Tables)

9 Months Ended

Sep. 30, 2012

Investment Securities [Abstract]

Available-for-sale investment securities

The portfolio of investment securities consisted of the following (in thousands):

	September 30, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale:
U.S. Government sponsored enterprises	$	31,217	$	94	$	-	$	31,311
Obligations of state and political subdivisions		78,301		4,818		-		83,119
GSE mortgage-backed securities		138,129		7,382		-		145,511
Asset-backed securities		12,294		252		-		12,546
Collateralized mortgage obligations: residential		38,081		584		2		38,663
Collateralized mortgage obligations: commercial		28,701		1,319		-		30,020
	$	326,723	$	14,449	$	2	$	341,170

	December 31, 2011
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale:
U.S. Government sponsored enterprises	$	94,339	$	662	$	2	$	94,999
Obligations of state and political subdivisions		90,284		5,865		-		96,149
GSE mortgage-backed securities		105,409		4,078		-		109,487
Collateralized mortgage obligations: residential		40,855		618		5		41,468
Collateralized mortgage obligations: commercial		24,609		529		-		25,138
	$	355,496	$	11,752	$	7	$	367,241

Held-to-maturity Securities [Table Text Block]

	September 30, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Held-to-maturity:
Obligations of state and political subdivisions	$	2,318	$	14	$	4	$	2,328
GSE mortgage-backed securities		97,856		3,672		-		101,528
Collateralized mortgage obligations: commercial		17,454		659		-		18,113
	$	117,628	$	4,345	$	4	$	121,969

	December 31, 2011
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Held-to-maturity:
Obligations of state and political subdivisions	$	340	$	2	$	-	$	342
GSE mortgage-backed securities		82,497		550		-		83,047
Collateralized mortgage obligations: commercial		17,635		107		-		17,742
	$	100,472	$	659	$	-	$	101,131

Expected Maturities

The amortized cost and fair value of debt securities at September 30, 2012 by contractual maturity are shown in the following table (in thousands) with the exception of mortgage-backed securities and CMOs. Expected maturities may differ from contractual maturities for mortgage-backed securities and CMOs because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Amortized Cost		Fair Value
Available-for-sale:
Due in one year or less	$	41,178	$	41,389
Due after one year through five years		39,462		41,758
Due after five years through ten years		24,117		26,267
Due after ten years		4,761		5,016
Asset-backed securities		12,294		12,546
Mortgage-backed securities and collateralized mortgage obligations:
Residential		176,210		184,174
Commercial		28,701		30,020
	$	326,723	$	341,170

	Amortized Cost		Fair Value
Held-to-maturity:
Due in one year or less	$	200	$	201
Due after one year through five years		608		611
Due after five years through ten years		1,510		1,516
Mortgage-backed securities and collateralized mortgage obligations:
Residential		97,856		101,528
Commercial		17,454		18,113
	$	117,628	$	121,969

Investment Securities with Unrealized Losses

Details concerning investment securities with unrealized losses are as follows (in thousands):

	September 30, 2012
	Securities with losses under 12 months				Securities with losses over 12 months				Total
Available-for-sale:	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
Collateralized mortgage obligations: residential	$	-	$	-	$	107	$	2	$	107	$	2

	December 31, 2011
	Securities with losses under 12 months				Securities with losses over 12 months				Total
Available-for-sale:	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
U.S. Government sponsored enterprises	$	6,204	$	2	$	-	$	-	$	6,204	$	2
Collateralized mortgage obligations: residential		1,849		1		136		4		1,985		5
	$	8,053	$	3	$	136	$	4	$	8,189	$	7

	September 30, 2012
	Securities with losses under 12 months				Securities with losses over 12 months				Total
Held-to-maturity:	Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss		Fair Value		Gross Unrealized Loss
Obligations of state and political subdivisions	$	427	$	4	$	-	$	-	$	427	$	4