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Securities (Tables)
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9 Months Ended |
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Sep. 30, 2013
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| Investments, Debt and Equity Securities [Abstract] |
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| Amortized costs and fair values of securities available for sale |
Amortized costs and fair values of securities available for sale at September 30, 2013 are summarized as follows: | | | | | | | | | | | | | | | | | | September 30, 2013 | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | (In Thousands) | Available for Sale | | | | | | | | U.S. government agencies | $ | 21,360 |
| | $ | 349 |
| | $ | (244 | ) | | $ | 21,465 |
| Obligations of states and political subdivisions | 77,788 |
| | 1,483 |
| | (3,167 | ) | | 76,104 |
| Mortgage-backed securities: | |
| | |
| | |
| | |
| Agency | 158,204 |
| | 3,864 |
| | (1,013 | ) | | 161,055 |
| Non-agency | 18,113 |
| | 151 |
| | (141 | ) | | 18,123 |
| Other asset backed securities | 35,728 |
| | 659 |
| | (150 | ) | | 36,237 |
| Corporate preferred stock | 68 |
| | 5 |
| | — |
| | 73 |
| Corporate securities | 15,695 |
| | 32 |
| | (406 | ) | | 15,321 |
| Total | $ | 326,956 |
| | $ | 6,543 |
| | $ | (5,121 | ) | | $ | 328,378 |
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Amortized costs and fair values of securities available for sale at December 31, 2012 are summarized as follows: | | | | | | | | | | | | | | | | | | December 31, 2012 | | Amortized Cost | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | (In Thousands) | Available for Sale | | | | | | | | U.S. government agencies | $ | 15,391 |
| | $ | 459 |
| | $ | (28 | ) | | $ | 15,822 |
| Obligations of states and political subdivisions | 74,485 |
| | 3,920 |
| | (105 | ) | | 78,300 |
| Mortgage-backed securities: | |
| | |
| | |
| | |
| Agency | 161,564 |
| | 5,659 |
| | (280 | ) | | 166,943 |
| Non-agency | 15,310 |
| | 287 |
| | (18 | ) | | 15,579 |
| Other asset backed securities | 33,648 |
| | 1,079 |
| | (85 | ) | | 34,642 |
| Corporate preferred stock | 68 |
| | — |
| | (6 | ) | | 62 |
| Corporate securities | 8,730 |
| | 12 |
| | (633 | ) | | 8,109 |
| Total | $ | 309,196 |
| | $ | 11,416 |
| | $ | (1,155 | ) | | $ | 319,457 |
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| Amortized cost and fair value of securities available for sale by contractual maturity |
The amortized cost and fair value of securities available for sale as of September 30, 2013, by contractual maturity are shown below. Maturities may differ from contractual maturities in mortgage-backed, other asset-backed, and corporate securities because the mortgages, loans, and securities underlying the securities may be called or repaid without any penalties. Therefore, these securities are not included in the maturity categories in the following maturity summary. | | | | | | | | | | September 30, 2013 | | Amortized Cost | | Fair Value | | (In thousands) | Due in one year or less | $ | 2,520 |
| | $ | 2,555 |
| Due after one year through five years | 38,469 |
| | 39,035 |
| Due after one year through ten years | 29,434 |
| | 28,617 |
| Due after ten years | 44,420 |
| | 42,683 |
| Mortgage-backed securities | 176,317 |
| | 179,178 |
| Other asset backed securities | 35,728 |
| | 36,237 |
| Corporate preferred stock | 68 |
| | 73 |
| Total | $ | 326,956 |
| | $ | 328,378 |
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| Investments in continuous unrealized loss position |
At September 30, 2013, investments in an unrealized loss position that were temporarily impaired are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2013 | | | | | (In thousands) | | | | | Less than Twelve Months | | Twelve Months or Greater | | Total | | | Fair Value | | Gross Unrealized Losses | | Fair Value | | Gross Unrealized Losses | | Fair Value | | Gross Unrealized Losses | U.S. government agencies | | $ | 11,019 |
| | $ | (244 | ) | | $ | 82 |
| | $ | — |
| | $ | 11,101 |
| | $ | (244 | ) | Obligations of states and | | |
| | |
| | |
| | |
| | |
| | |
| political subdivisions | | 29,161 |
| | (3,129 | ) | | 847 |
| | (38 | ) | | 30,008 |
| | (3,167 | ) | Mortgage backed securities: | | |
| | |
| | |
| | |
| | |
| | |
| Agency | | 37,619 |
| | (878 | ) | | 5,256 |
| | (135 | ) | | 42,875 |
| | (1,013 | ) | Non-agency | | 3,938 |
| | (81 | ) | | 1,354 |
| | (60 | ) | | 5,292 |
| | (141 | ) | Other asset backed securities | | 1,592 |
| | (42 | ) | | 2,284 |
| | (108 | ) | | 3,876 |
| | (150 | ) | Corporate securities | | 5,656 |
| | (167 | ) | | 4,261 |
| | (239 | ) | | 9,917 |
| | (406 | ) | Total | | $ | 88,985 |
| | $ | (4,541 | ) | | $ | 14,084 |
| | $ | (580 | ) | | $ | 103,069 |
| | $ | (5,121 | ) |
At December 31, 2012, investments in an unrealized loss position that were temporarily impaired are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2012 | | | | | (In thousands) | | | | | Less than Twelve Months | | Twelve Months or Greater | | Total | | | Fair Value | | Gross Unrealized Losses | | Fair Value | | Gross Unrealized Losses | | Fair Value | | Gross Unrealized Losses | U.S. government agencies | | $ | 3,850 |
| | $ | (28 | ) | | $ | 16 |
| | $ | — |
| | $ | 3,866 |
| | $ | (28 | ) | Obligations of states and | | |
| | |
| | |
| | |
| | |
| | |
| political subdivisions | | 6,966 |
| | (105 | ) | | — |
| | — |
| | 6,966 |
| | (105 | ) | Mortgage backed securities: | | |
| | |
| | |
| | |
| | |
| | |
| Agency | | 24,344 |
| | (234 | ) | | 1,241 |
| | (46 | ) | | 25,585 |
| | (280 | ) | Non-agency | | 3,295 |
| | (18 | ) | | — |
| | — |
| | 3,295 |
| | (18 | ) | Other asset backed securities | | 2,791 |
| | (57 | ) | | 1,418 |
| | (28 | ) | | 4,209 |
| | (85 | ) | Corporate preferred stock | | — |
| | — |
| | 33 |
| | (6 | ) | | 33 |
| | (6 | ) | Corporate securities | | — |
| | — |
| | 6,867 |
| | (633 | ) | | 6,867 |
| | (633 | ) | Total | | $ | 41,246 |
| | $ | (442 | ) | | $ | 9,575 |
| | $ | (713 | ) | | $ | 50,821 |
| | $ | (1,155 | ) |
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