Securities (Tables)

9 Months Ended

Sep. 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:

	September 30, 2014
(Dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available for Sale
U.S. government agencies	$	32,330	$	243	$	(210	)	$	32,363
Obligations of states and political subdivisions	58,141		2,351		(482		)	60,010
Mortgage-backed securities:
Agency	164,872		4,691		(800		)	168,763
Non-agency	27,978		124		(151		)	27,951
Other asset backed securities	27,215		523		(48		)	27,690
Corporate preferred stock	15		—		—			15
Corporate securities	18,608		151		(517		)	18,242
Total	$	329,159	$	8,083	$	(2,208	)	$	335,034

	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 September 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.

	September 30, 2014
(Dollars in thousands)	Amortized Cost		Fair Value
Due in one year or less	$	6,564	$	6,629
Due after one year through five years	43,635		45,418
Due after five years through ten years	39,747		39,516
Due after ten years	19,133		19,052
Mortgage-backed securities	192,850		196,714
Other asset backed securities	27,215		27,690
Corporate preferred stock	15		15
Total	$	329,159	$	335,034

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
September 30, 2014	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
U.S. government agencies	$	9,746	$	(116	)	$	4,254	$	(94	)	$	14,000	$	(210	)
Obligations of states and political subdivisions	2,642		(14		)	7,209		(468		)	9,851		(482		)
Mortgage-backed securities:
Agency	26,289		(306		)	12,507		(494		)	38,796		(800		)
Non-agency	19,317		(151		)	—		—			19,317		(151		)
Other asset backed securities	2,452		(35		)	1,077		(13		)	3,529		(48		)
Corporate preferred stock	—		—			—		—			—		—
Corporate securities	9,293		(344		)	1,792		(173		)	11,085		(517		)
Total	$	69,739	$	(966	)	$	26,839	$	(1,242	)	$	96,578	$	(2,208	)

(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	)