Securities (Tables)

3 Months Ended

Mar. 31, 2013

Summary Of Amortized Cost, Unrealized Gains, Unrealized Losses And Estimated Fair Values Of Securities


				March 31, 2013
		Amortized		Unrealized				Estimated
Dollars in thousands		Cost		Gains		Losses		Fair Value
Available for Sale
Taxable debt securities:
U. S. Government agencies
and corporations	$	30,782	$	1,035	$	-	$	31,817
Residential mortgage-backed securities:
Government-sponsored agencies		142,534		3,444		647		145,331
Nongovernment-sponsored agencies		13,691		483		83		14,091
State and political subdivisions		13,889		122		93		13,918
Corporate debt securities		2,962		33		18		2,977
Total taxable debt securities		203,858		5,117		841		208,134
Tax-exempt debt securities:
State and political subdivisions		68,945		3,527		271		72,201
Residential mortgage-backed securities:
Government-sponsored agencies		2,642		-		-		2,642
Total tax-exempt debt securities		71,587		3,527		271		74,843
Equity securities		77		-		-		77
Total available for sale securities	$	275,522	$	8,644	$	1,112	$	283,054


				December 31, 2012
		Amortized		Unrealized				Estimated
Dollars in thousands		Cost		Gains		Losses		Fair Value
Available for Sale
Taxable debt securities
U. S. Government agencies
and corporations	$	28,128	$	892	$	-	$	29,020
Residential mortgage-backed securities:
Government-sponsored agencies		133,812		3,250		492		136,570
Nongovernment-sponsored entities		15,380		509		144		15,745
State and political subdivisions		12,187		71		89		12,169
Corporate debt securities		1,959		29		38		1,950
Total taxable debt securities		191,466		4,751		763		195,454
Tax-exempt debt securities
State and political subdivisions		79,403		4,104		237		83,270
Residential mortgage-backed securities		2,738		-		-		2,738
Total tax-exempt debt securities		82,141		4,104		237		86,008
Equity securities		77		-		-		77

Total available for sale securities	$	273,684	$	8,855	$	1,000	$	281,539


				March 31, 2012
		Amortized		Unrealized				Estimated
Dollars in thousands		Cost		Gains		Losses		Fair Value
Available for Sale
Taxable debt securities:
U. S. Government agencies
and corporations	$	9,721	$	475	$	16	$	10,180
Residential mortgage-backed securities:
Government-sponsored agencies		161,928		3,435		525		164,838
Nongovernment-sponsored agencies		32,028		627		715		31,940
State and political subdivisions		5,661		-		37		5,624
Corporate debt securities		1,947		12		97		1,862
Total taxable debt securities		211,285		4,549		1,390		214,444
Tax-exempt debt securities:
State and political subdivisions		70,913		3,837		306		74,444
Residential mortgage-backed securities:
Government-sponsored agencies		3,037		-		-		3,037
Total tax-exempt debt securities		73,950		3,837		306		77,481
Equity securities		77		-		-		77
Total available for sale securities	$	285,312	$	8,386	$	1,696	$	292,002

Summary Of Maturities, Amortized Cost And Estimated Fair Values Of Securities


		Available for Sale
		Amortized		Estimated
Dollars in thousands		Cost		Fair Value
Due in one year or less	$	68,134	$	69,092
Due from one to five years		85,865		87,851
Due from five to ten years		15,870		16,339
Due after ten years		105,576		109,695
Equity securities		77		77
	$	275,522	$	283,054

Summary Of Proceeds From Sales, Calls And Maturities, Principal Payments, Gains And Losses Of Available For Sale Securities


				Proceeds from				Gross realized
				Calls and		Principal
Dollars in thousands		Sales		Maturities		Payments		Gains		Losses

Securities available for sale	$	11,893	$	808	$	15,712	$	141	$	99

Summary Of Other-Than-Temporary Impairment Losses On Securities


		Three Months Ended March 31,
Dollars in thousands		2013			2012

Total other-than-temporary impairment losses	$	(91	)	$	(511	)
Portion of loss recognized in
other comprehensive income		37			282
Net impairment losses recognized in earnings	$	(54	)	$	(229	)

Summary Of Activity Related To The Credit Component Recognized On Debt Securities Available For Sale Of Other-Than-Temporary Impairment Recognized In Other Comprehensive Income


		Three Months Ended
		March 31, 2013

Dollars in thousands		Total
Beginning Balance	$	(2,903	)
Additions for the credit component on debt securities in which
other-than-temporary impairment was not previously recognized		(54	)
Securities sold during the period		-
Ending Balance	$	(2,957	)

Summary Of Assumptions Utilized In Valuation Of Other-Than-Temporarily Impaired Residential Mortgage-Backed Securities Issued By Nongovernment-Sponsored Entities


	Weighted		Range
	Average		Minimum		Maximum
Constant voluntary prepayment rates	14.0	%	14.0	%	14.0	%
Constant default rates	5.6	%	5.6	%	5.6	%
Loss severities	40.0	%	40.0	%	40.0	%

Summary Of Securities Available For Sale In Unrealized Loss Position


							March 31, 2013
		Less than 12 months				12 months or more						Total
		Estimated		Unrealized			Estimated		Unrealized			Estimated		Unrealized
Dollars in thousands		Fair Value		Loss			Fair Value		Loss			Fair Value		Loss
Temporarily impaired securities
Taxable debt securities
U. S. Government agencies
and corporations	$	-	$	-		$	-	$	-		$	-	$	-
Residential mortgage-backed securities:
Government-sponsored agencies		39,272		(579	)		4,228		(68	)		43,500		(647	)
Nongovernment-sponsored entities		1		(5	)		1,287		(10	)		1,288		(15	)
State and political subdivisions		4,317		(89	)		387		(4	)		4,704		(93	)
Corporate debt securities		-		-			981		(18	)		981		(18	)
Tax-exempt debt securities
State and political subdivisions		17,231		(271	)		-		-			17,231		(271	)
Total temporarily impaired securities		60,821		(944	)		6,883		(100	)		67,704		(1,044	)
Other-than-temporarily impaired securities
Taxable debt securities
Residential mortgage-backed securities:
Nongovernment-sponsored entities		-		-			305		(68	)		305		(68	)
Total other-than-temporarily
impaired securities		-		-			305		(68	)		305		(68	)
Total	$	60,821	$	(944	)	$	7,188	$	(168	)	$	68,009	$	(1,112	)


							December 31, 2012
		Less than 12 months					12 months or more					Total
		Estimated		Unrealized			Estimated		Unrealized			Estimated		Unrealized
Dollars in thousands		Fair Value		Loss			Fair Value		Loss			Fair Value		Loss
Temporarily impaired securities
Taxable debt securities
U. S. Government agencies
and corporations	$	-	$	-		$	-	$	-		$	-	$	-
Residential mortgage-backed s ecurities :
Government-sponsored agencies		36,498		(414	)		8,997		(78	)		45,495		(492	)
Nongovernment-sponsored entities		-		(4	)		1,478		(14	)		1,478		(18	)
State a nd political subdivisions		3,766		(85	)		387		(4	)		4,153		(89	)
Corporate debt s ecurities		-		-			962		(38	)		962		(38	)
Tax-exempt debt securities
State a nd political subdivisions		19,934		(237	)		-		-			19,934		(237	)
Total temporarily impaired securities		60,198		(740	)		11,824		(134	)		72,022		(874	)
Other-than-temporarily impaired securities
Taxable debt securities
Residential mortgage-backed s ecurities :
Nongovernment-sponsored entities		265		(6	)		593		(120	)		858		(126	)
Total other-than-temporarily
impaired securities		265		(6	)		593		(120	)		858		(126	)
Total	$	60,463	$	(746	)	$	12,417	$	(254	)	$	72,880	$	(1,000	)

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

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-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

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+ Details

- Definition

Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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