Securities (Tables)

3 Months Ended

Mar. 31, 2014

Investments, Debt and Equity Securities [Abstract]

Amortized costs and fair values of securities available for sale

Amortized costs and fair values of securities available for sale are summarized as follows:

	March 31, 2014
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available for Sale
U.S. government agencies	$	22,378	$	179	$	(282	)	$	22,275
Obligations of states and political subdivisions	65,389		1,507		(1,580		)	65,316
Mortgage-backed securities:
Agency	169,425		3,970		(1,251		)	172,144
Non-agency	23,012		151		(126		)	23,037
Other asset backed securities	27,007		540		(82		)	27,465
Corporate preferred stock	68		10		—			78
Corporate securities	15,414		50		(259		)	15,205
Total	$	322,693	$	6,407	$	(3,580	)	$	325,520

	December 31, 2013
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available for Sale
U.S. government agencies	$	21,367	$	304	$	(332	)	$	21,339
Obligations of states and political subdivisions	68,904		1,083		(2,749		)	67,238
Mortgage-backed securities:
Agency	166,095		3,539		(1,624		)	168,010
Non-agency	22,029		116		(211		)	21,934
Other asset backed securities	33,883		710		(175		)	34,418
Corporate preferred stock	69		5		—			74
Corporate securities	15,680		58		(328		)	15,410
Total	$	328,027	$	5,815	$	(5,419	)	$	328,423

Amortized cost and fair value of securities available for sale by contractual maturity

Therefore, these securities are not included in the maturity categories in the following maturity summary.

	March 31, 2014
(Dollars in thousands)	Amortized Cost		Fair Value
Due in one year or less	$	5,400	$	5,498
Due after one year through five years	29,278		30,030
Due after five years through ten years	41,011		40,709
Due after ten years	27,492		26,559
Mortgage-backed securities	192,437		195,181
Other asset backed securities	27,007		27,465
Corporate preferred stock	68		78
Total	$	322,693	$	325,520

Investments in continuous unrealized loss position

Investments in an unrealized loss position that are temporarily impaired are as follows:

(Dollars in thousands)	Less than Twelve Months					Twelve Months or Greater					Total
March 31, 2014	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
U.S. government agencies	$	9,793	$	(217	)	$	1,396	$	(65	)	$	11,189	$	(282	)
Obligations of states and political subdivisions	11,822		(766		)	5,434		(814		)	17,256		(1,580		)
Mortgage-backed securities:
Agency	38,442		(814		)	12,590		(437		)	51,032		(1,251		)
Non-agency	8,775		(89		)	1,371		(37		)	10,146		(126		)
Other asset backed securities	4,956		(56		)	1,082		(26		)	6,038		(82		)
Corporate preferred stock	—		—			—		—			—		—
Corporate securities	7,005		(249		)	490		(10		)	7,495		(259		)
Total	$	80,793	$	(2,191	)	$	22,363	$	(1,389	)	$	103,156	$	(3,580	)

(Dollars in thousands)	Less than Twelve Months					Twelve Months or Greater					Total
December 31, 2013	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
U.S. government agencies	$	10,218	$	(273	)	$	1,416	$	(59	)	$	11,634	$	(332	)
Obligations of states and political subdivisions	24,568		(2,539		)	1,798		(210		)	26,366		(2,749		)
Mortgage-backed securities:
Agency	50,048		(1,264		)	8,228		(360		)	58,276		(1,624		)
Non-agency	14,505		(152		)	1,351		(59		)	15,856		(211		)
Other asset backed securities	1,585		(39		)	2,187		(136		)	3,772		(175		)
Corporate preferred stock	—		—			—		—			—		—
Corporate securities	6,247		(274		)	4,446		(54		)	10,693		(328		)
Total	$	107,171	$	(4,541	)	$	19,426	$	(878	)	$	126,597	$	(5,419	)