SECURITIES (Tables)

12 Months Ended

Dec. 31, 2012

Investments, Debt and Equity Securities [Abstract]

Schedule of Trading Securities

As of December 31, 2011 securities classified as trading at fair value, consisted of the following:

	(Dollars in thousands)
Cash equivalents	$	93
Fixed income securities	2,242
Marketable securities	5,905
Total	$	8,240

Schedule of Available-for-sale Securities and Held-to-maturity Securties

The following table presents a summary of the amortized cost, gross unrealized holding gains and losses, other-than-temporary impairment recorded in other comprehensive income and fair value of securities available for sale and securities held to maturity for the periods indicated:

	December 31, 2012												December 31, 2011
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses Other			Other-Than- Temporary Impairment			Fair Value		Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses Other			Other-Than- Temporary Impairment			Fair Value
	(Dollars in thousands)
Available for sale securities
U.S. government agency securities	$	20,053	$	769	$	—		$	—		$	20,822	$	—	$	—	$	—		$	—		$	—
Agency mortgage-backed securities	209,381		12,158		(114		)	—			221,425		222,349		16,042		—			—			238,391
Agency collateralized mortgage obligations	67,412		1,001		(37		)	—			68,376		52,927		874		—			—			53,801
Private mortgage-backed securities	3,227		—		—			305			3,532		6,215		—		—			(105		)	6,110
Single issuer trust preferred securities issued by banks	2,255		—		(15		)	—			2,240		5,000		—		(790		)	—			4,210
Pooled trust preferred securities issued by banks and insurers	8,353		—		(2,415		)	(2,957		)	2,981		8,505		—		(2,518		)	(3,167		)	2,820
Marketable securities	9,875		92		(57		)	—			9,910		—		—		—			—			—
Total available for sale securities	$	320,556	$	14,020	$	(2,638	)	$	(2,652	)	$	329,286	$	294,996	$	16,916	$	(3,308	)	$	(3,272	)	$	305,332
Held to maturity securities
U.S. treasury securities	$	1,013	$	121	$	—		$	—		$	1,134	$	1,014	$	103	$	—		$	—		$	1,117
Agency mortgage-backed securities	72,360		4,233		—			—			76,593		109,553		4,406		—			—			113,959
Agency collateralized mortgage obligations	97,507		2,875		(2		)	—			100,380		77,804		2,494		—			—			80,298
State, county, and municipal securities	915		11		—			—			926		3,576		34		—			—			3,610
Single issuer trust preferred securities issued by banks	1,516		10		—			—			1,526		8,000		15		(669		)	—			7,346
Corporate debt securities	5,007		258		—			—			5,265		5,009		155		—			—			5,164
Total held to maturity securities	$	178,318	$	7,508	$	(2	)	$	—		$	185,824	$	204,956	$	7,207	$	(669	)	$	—		$	211,494
Total	$	498,874	$	21,528	$	(2,640	)	$	(2,652	)	$	515,110	$	499,952	$	24,123	$	(3,977	)	$	(3,272	)	$	516,826

Summary of Realized Gains and Losses on Available-for-sale Securities

When securities are sold, the adjusted cost of the specific security sold is used to compute the gain or loss on the sale. The following table shows the gross realized gains and losses on available for sale securities for the periods indicated:

	Years Ended December 31
	2012				2011		2010
	(Dollars in thousands)
Gross gains on available for sale securities	$	116	(1	)	$	723	$	458
Gross losses on available for sale securities	—				—		—
Net gains on available for sale securities	$	116			$	723	$	458

(1) Amount includes $111,000 of realized gains associated with the marketable securities classified as available for sale.

Schedule of Contractual Maturities of Securities

A schedule of the contractual maturities of securities available for sale and securities held to maturity as of December 31, 2012 is presented below:

	Available for Sale				Held to Maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(Dollars in thousands)
Due in one year or less	$	224	$	235	$	239	$	241
Due from one year to five years	2,766		2,901		6,469		6,795
Due from five to ten years	75,574		79,511		1,013		1,134
Due after ten years	232,117		236,729		170,597		177,654
Total debt securities	$	310,681	$	319,376	$	178,318	$	185,824
Marketable securities	$	9,875	$	9,910	$	—	$	—
Total	$	320,556	$	329,286	$	178,318	$	185,824

Schedule of Gross Unrealized Losses and Fair Value of Investments

The following tables show the gross unrealized losses and fair value of the Company’s investments in an unrealized loss position, which the Company has not deemed to be OTTI, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:

		December 31, 2012
		Less than 12 months					12 months or longer					Total
Description of securities	# of holdings	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
		(Dollars In thousands)
Agency mortgage-backed securities	17	$	23,814	$	(114	)	$	—	$	—		$	23,814	$	(114	)
Agency collateralized mortgage obligations	2	17,677		(39		)	—		—			17,677		(39		)
Single issuer trust preferred securities issued by banks and insurers	2	2,240		(15		)	—		—			2,240		(15		)
Pooled trust preferred securities issued by banks and insurers	2	—		—			2,069		(2,415		)	2,069		(2,415		)
Marketable securities	15	6,613		(57		)	—		—			6,613		(57		)
Total temporarily impaired securities	38	$	50,344	$	(225	)	$	2,069	$	(2,415	)	$	52,413	$	(2,640	)
		December 31, 2011
		Less than 12 months					12 months or longer					Total
Description of securities	# of holdings	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
		(Dollars In thousands)
Single issuer trust preferred securities issued by banks and insurers	2	$	—	$	—		$	8,617	$	(1,459	)	$	8,617	$	(1,459	)
Pooled trust preferred securities issued by banks and insurers	2	—		—			2,117		(2,518		)	2,117		(2,518		)
Total temporarily impaired securities	4	$	—	$	—		$	10,734	$	(3,977	)	$	10,734	$	(3,977	)

Schedule of Pertinent Information

The following tables summarize pertinent information as of December 31, 2012, that was considered by management in determining if OTTI existed:

	Class	Amortized Cost (1)		Gross Unrealized Gain/(Loss)			Non-Credit Related Other- Than-Temporary Impairment			Fair Value		Total Cumulative Credit Related Other- Than- Temporary Impairment			Total Cumulative Other- Than- Temporary impairment to date
	(Dollars in thousands)
Pooled trust preferred securities
Pooled trust preferred security A	C1	$	1,283	$	—		$	(1,055	)	$	228	$	(3,676	)	$	(4,731	)
Pooled trust preferred security B	D	—		—			—			—		(3,481		)	(3,481		)
Pooled trust preferred security C	C1	505		—			(402		)	103		(482		)	(884		)
Pooled trust preferred security D	D	—		—			—			—		(990		)	(990		)
Pooled trust preferred security E	C1	2,081		—			(1,500		)	581		(1,368		)	(2,868		)
Pooled trust preferred security F	B	1,893		(1,294		)	—			599		—			—
Pooled trust preferred security G	A1	2,591		(1,121		)	—			1,470		—			—
Total pooled trust preferred securities		$	8,353	$	(2,415	)	$	(2,957	)	$	2,981	$	(9,997	)	$	(12,954	)
Private mortgage-backed securities
Private mortgage-backed securities — one	2A1	$	2,229	$	—		$	207		$	2,436	$	(765	)	$	(558	)
Private mortgage-backed securities —two	A19	998		—			98			1,096		(85		)	13
Total private mortgage-backed securities		$	3,227	$	—		$	305		$	3,532	$	(850	)	$	(545	)
Total		$	11,580	$	(2,415	)	$	(2,652	)	$	6,513	$	(10,847	)	$	(13,499	)

(1) The amortized cost reflects previously recorded credit related OTTI charges recognized in earnings for the applicable securities.

	Class	Number of Performing Banks and Insurance Cos. in Issuances (Unique)	Current Deferrals/ Defaults/ Losses (As a % of Original Collateral)		Total Projected Defaults/ Losses (as a % of Performing Collateral)		Excess Subordination (After Taking into Account Best Estimate of Future Deferrals/ Defaults/ Losses)(1)		Lowest credit Ratings to date(2)
Pooled trust preferred securities
Pooled trust preferred security A	C1	54	34.03	%	21.59	%	—	%	C (Fitch & Moody’s)
Pooled trust preferred security B	D	54	34.03	%	21.59	%	—	%	C (Fitch)
Pooled trust preferred security C	C1	48	31.00	%	18.69	%	—	%	C (Fitch & Moody’s)
Pooled trust preferred security D	D	48	31.00	%	18.69	%	—	%	C (Fitch)
Pooled trust preferred security E	C1	47	27.17	%	16.04	%	2.35	%	C (Fitch & Moody’s)
Pooled trust preferred security F	B	32	26.61	%	22.29	%	29.33	%	CC (Fitch)
Pooled trust preferred security G	A1	32	26.61	%	22.29	%	53.90	%	CCC+ (S&P)
Private mortgage-backed securities
Private mortgage-backed securities — one	2A1	N/A	6.62	%	12.19	%	—	%	D (Fitch)
Private mortgage-backed securities — two	A19	N/A	3.74	%	6.44	%	—	%	C (Fitch)

(1) Excess subordination represents the additional default/losses in excess of both current and projected defaults/losses that the security can absorb before the security experiences any credit impairment.

(2) The Company reviewed credit ratings provided by S&P, Moody’s and Fitch in its evaluation of issuers.

Schedule of Other Than Temporary Impairment

The following table shows the total OTTI that the Company recorded for the periods indicated:

	Years Ended December 31
	2012			2011			2010
	(Dollars in thousands)
Gross change in OTTI recorded on certain investments (gain/(losses))	$	678		$	53		$	497
Portion of OTTI gains (losses) recognized in OCI	(754		)	(296		)	(831		)
Total credit related OTTI losses recognized in earnings	$	(76	)	$	(243	)	$	(334	)

Summary of Cumulative Credit Related Component of OTTI

The following table shows the cumulative credit related component of OTTI for the periods indicated:

	2012			2011			2010
	(Dollars in thousands)
Balance at January 1	$	(10,771	)	$	(10,528	)	$	(10,194	)
Add
Incurred on securities not previously impaired	—			—			(85		)
Incurred on securities previously impaired	(76		)	(243		)	(249		)
Less
Realized gain/loss on sale of securities	—			—			—
Reclassification due to changes in Company’s intent	—			—			—
Increases in cash flow expected to be collected	—			—			—
Balance at December 31	$	(10,847	)	$	(10,771	)	$	(10,528	)