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Investment Securities (Tables)
9 Months Ended
Sep. 30, 2012
Investment Securities  
Schedule of amortized cost and fair value of investment securities held to maturity

 

 

 

 

 

Gross

 

Gross

 

 

 

 

 

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

(Dollars in thousands)

 

Cost

 

Gains

 

Losses

 

Value

 

September 30, 2012:

 

 

 

 

 

 

 

 

 

State and municipal obligations

 

$

16,568

 

$

1,182

 

$

 

$

17,750

 

 

 

 

 

 

 

 

 

 

 

December 31, 2011:

 

 

 

 

 

 

 

 

 

State and municipal obligations

 

$

16,569

 

$

1,295

 

$

 

$

17,864

 

 

 

 

 

 

 

 

 

 

 

September 30, 2011:

 

 

 

 

 

 

 

 

 

State and municipal obligations

 

$

18,699

 

$

1,173

 

$

 

$

19,872

 

 

Schedule of amortized cost and fair value of investment securities available for sale

 

 

 

 

 

Gross

 

Gross

 

 

 

 

 

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

(Dollars in thousands)

 

Cost

 

Gains

 

Losses

 

Value

 

September 30, 2012:

 

 

 

 

 

 

 

 

 

Government-sponsored entities debt *

 

$

70,654

 

$

892

 

$

(1

)

$

71,545

 

State and municipal obligations

 

134,813

 

5,264

 

(44

)

140,033

 

Mortgage-backed securities **

 

256,398

 

7,654

 

(82

)

263,970

 

FHLMC preferred stock***

 

148

 

 

(46

)

102

 

Corporate stocks

 

240

 

133

 

 

373

 

 

 

$

462,253

 

$

13,943

 

$

(173

)

$

476,023

 

December 31, 2011:

 

 

 

 

 

 

 

 

 

Government-sponsored entities debt *

 

$

48,464

 

$

1,142

 

$

(3

)

$

49,603

 

State and municipal obligations

 

40,780

 

3,208

 

(31

)

43,957

 

Mortgage-backed securities **

 

190,204

 

5,111

 

(6

)

195,309

 

Corporate stocks

 

241

 

85

 

 

326

 

 

 

$

279,689

 

$

9,546

 

$

(40

)

$

289,195

 

September 30, 2011:

 

 

 

 

 

 

 

 

 

Government-sponsored entities debt *

 

$

60,017

 

$

1,312

 

$

(9

)

$

61,320

 

State and municipal obligations

 

40,605

 

2,871

 

(28

)

43,448

 

Mortgage-backed securities **

 

171,280

 

5,581

 

(6

)

176,855

 

Corporate stocks

 

255

 

59

 

(11

)

303

 

 

 

$

272,157

 

$

9,823

 

$

(54

)

$

281,926

 

 

* - Government-sponsored entities holdings are comprised of debt securities offered by Federal Home Loan Mortgage Corporation (“FHLMC”) or Freddie Mac, Federal National Mortgage Association (“FNMA”) or Fannie Mae, FHLB, and Federal Farm Credit Banks (“FFCB”).

** - All of the mortgage-backed securities are issued by government-sponsored entities; there are no private-label holdings.

*** Securities issued by the Federal Home Loan Mortgage Corporation (“FHLMC” or “Freddie Mac”)

Schedule of amortized cost and fair value of other investment securities

 

 

 

 

 

Gross

 

Gross

 

 

 

 

 

Amortized

 

Unrealized

 

Unrealized

 

Fair

 

(Dollars in thousands)

 

Cost

 

Gains

 

Losses

 

Value

 

September 30, 2012:

 

 

 

 

 

 

 

 

 

Federal Home Loan Bank stock

 

$

6,664

 

$

 

$

 

$

6,664

 

Investment in unconsolidated subsidiaries

 

1,332

 

 

 

1,332

 

 

 

$

7,996

 

$

 

$

 

$

7,996

 

December 31, 2011:

 

 

 

 

 

 

 

 

 

Federal Reserve Bank stock

 

$

7,028

 

$

 

$

 

$

7,028

 

Federal Home Loan Bank stock

 

9,932

 

 

 

9,932

 

Investment in unconsolidated subsidiaries

 

1,332

 

 

 

1,332

 

 

 

$

18,292

 

$

 

$

 

$

18,292

 

September 30, 2011:

 

 

 

 

 

 

 

 

 

Federal Reserve Bank stock

 

$

7,028

 

$

 

$

 

$

7,028

 

Federal Home Loan Bank stock

 

12,062

 

 

 

12,062

 

Investment in unconsolidated subsidiaries

 

1,332

 

 

 

1,332

 

 

 

$

20,422

 

$

 

$

 

$

20,422

 

 

Schedule of amortized cost and fair value of debt securities by contractual maturity

 

 

 

Securities

 

Securities

 

 

 

Held to Maturity

 

Available for Sale

 

 

 

Amortized

 

Fair

 

Amortized

 

Fair

 

(Dollars in thousands)

 

Cost

 

Value

 

Cost

 

Value

 

 

 

 

 

 

 

 

 

 

 

Due in one year or less

 

$

1,311

 

$

1,331

 

$

1,371

 

$

1,382

 

Due after one year through five years

 

701

 

709

 

11,845

 

12,066

 

Due after five years through ten years

 

9,051

 

9,659

 

71,060

 

73,370

 

Due after ten years

 

5,505

 

6,051

 

377,977

 

389,205

 

 

 

$

16,568

 

$

17,750

 

$

462,253

 

$

476,023

 

 

Schedule of securities with gross unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position

 

 

 

Less Than Twelve Months

 

Twelve Months or More

 

 

 

Gross

 

 

 

Gross

 

 

 

 

 

Unrealized

 

Fair

 

Unrealized

 

Fair

 

(Dollars in thousands)

 

Losses

 

Value

 

Losses

 

Value

 

September 30, 2012:

 

 

 

 

 

 

 

 

 

Securities Held to Maturity

 

 

 

 

 

 

 

 

 

State and municipal obligations

 

$

 

$

 

$

 

$

 

 

 

 

 

 

 

 

 

 

 

Securities Available for Sale

 

 

 

 

 

 

 

 

 

Government-sponsored entities debt

 

$

1

 

$

3,979

 

$

 

$

 

State and municipal obligations

 

44

 

5,983

 

 

 

Mortgage-backed securities

 

82

 

18,849

 

 

 

FHLMC preferred stock

 

46

 

102

 

 

 

 

 

$

173

 

$

28,913

 

$

 

$

 

 

 

 

 

 

 

 

 

 

 

December 31, 2011:

 

 

 

 

 

 

 

 

 

Securities Held to Maturity

 

 

 

 

 

 

 

 

 

State and municipal obligations

 

$

 

$

 

$

 

$

 

 

 

 

 

 

 

 

 

 

 

Securities Available for Sale

 

 

 

 

 

 

 

 

 

Government-sponsored entities debt

 

$

3

 

$

5,505

 

$

 

$

 

State and municipal obligations

 

 

420

 

31

 

724

 

Mortgage-backed securities

 

6

 

6,601

 

 

 

 

 

$

9

 

$

12,526

 

$

31

 

$

724

 

 

 

 

 

 

 

 

 

 

 

September 30, 2011:

 

 

 

 

 

 

 

 

 

Securities Held to Maturity

 

 

 

 

 

 

 

 

 

State and municipal obligations

 

$

 

$

 

$

 

$

 

 

 

 

 

 

 

 

 

 

 

Securities Available for Sale

 

 

 

 

 

 

 

 

 

Government-sponsored entities debt

 

$

9

 

$

5,502

 

$

 

$

 

State and municipal obligations

 

3

 

675

 

25

 

476

 

Mortgage-backed securities

 

6

 

3,647

 

 

 

Corporate stocks

 

11

 

14

 

 

 

 

 

$

29

 

$

9,838

 

$

25

 

$

476