Securities (Tables)

6 Months Ended

Jun. 30, 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:

	June 30, 2014
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available for Sale
U.S. government agencies	$	27,512	$	222	$	(181	)	$	27,553
Obligations of states and political subdivisions	60,126		1,960		(892		)	61,194
Mortgage-backed securities:
Agency	172,315		4,933		(866		)	176,382
Non-agency	21,177		197		(74		)	21,300
Other asset backed securities	25,248		512		(42		)	25,718
Corporate preferred stock	68		18		—			86
Corporate securities	17,594		171		(331		)	17,434
Total	$	324,040	$	8,013	$	(2,386	)	$	329,667

	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

The amortized cost and fair value of securities available for sale as of June 30, 2014, by contractual maturity are shown below.  Maturities may differ from contractual maturities in corporate and mortgage-backed securities because the securities and mortgages 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.

	June 30, 2014
(Dollars in thousands)	Amortized Cost		Fair Value
Due in one year or less	$	4,927	$	5,004
Due after one year through five years	33,682		34,928
Due after five years through ten years	43,231		43,176
Due after ten years	23,392		23,073
Mortgage-backed securities	193,492		197,682
Other asset backed securities	25,248		25,718
Corporate preferred stock	68		86
Total	$	324,040	$	329,667

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
June 30, 2014	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
U.S. government agencies	$	11,181	$	(118	)	$	1,344	$	(63	)	$	12,525	$	(181	)
Obligations of states and political subdivisions	—		—			10,352		(892		)	10,352		(892		)
Mortgage-backed securities:
Agency	22,333		(293		)	17,172		(573		)	39,505		(866		)
Non-agency	6,797		(59		)	1,120		(15		)	7,917		(74		)
Other asset backed securities	2,399		(5		)	2,121		(37		)	4,520		(42		)
Corporate preferred stock	—		—			—		—			—		—
Corporate securities	9,863		(275		)	909		(56		)	10,772		(331		)
Total	$	52,573	$	(750	)	$	33,018	$	(1,636	)	$	85,591	$	(2,386	)

(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	)