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Investment Securities (Tables)

3 Months Ended

Mar. 31, 2013

Schedule of amortized cost and fair values of the Company's investment securities, all of which are reported as available for sale

(dollar amounts in thousands)			Gross		Gross
	Amortized		Unrealized		Unrealized
March 31, 2013	Cost		Gains		Losses		Fair Value
Obligations of U.S. government agencies	$	4,781	$	57	$	(2)	$	4,836
Mortgage backed securities
U.S. government sponsored entities and agencies	155,391		983		(581)		155,793
Non-agency	23,209		732		(15)		23,926
State and municipal securities	29,923		1,169		(88)		31,004
Asset backed securities	31,987		398		(54)		32,331

Total	$	245,291	$	3,339	$	(740)	$	247,890

December 31, 2012
Obligations of U.S. government agencies	$	7,307	$	262	$	(2)	$	7,567
Mortgage backed securities
U.S. government sponsored entities and agencies	145,430		1,136		(798)		145,768
Non-agency	43,402		1,578		(185)		44,795
State and municipal securities	64,824		4,240		(96)		68,968
Asset backed securities	20,049		568		(33)		20,584

Total	$	281,012	$	7,784	$	(1,114)	$	287,682

Schedule of roll forward of the OTTI balances against the investment securities for both credit loss and all other factor components

	For the Three Months Ended March 31, 2013						For the Three Months Ended March 31, 2012
			OTTI Related						OTTI Related
	OTTI Related		to All Other		Total		OTTI Related		to All Other		Total
(dollars in thousands)	to Credit Loss		Factors		OTTI		to Credit Loss		Factors		OTTI
Balance, beginning of the period	$	109	$	170	$	279	$	109	$	361	$	470
Less: losses related to OTTI securities sold	(109)		(170)		(279)		-		-		-
Change in value attributable to other factors	-		-		-		-		(38)		(38)

Balance, end of the period	$	-	$	-	$	-	$	109	$	323	$	432

Summary of investment securities in an unrealized loss position

	Securities In A Loss Position For
(dollar amounts in thousands)		Less Than Twelve Months				Twelve Months or More				Total
		Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
March 31, 2013		Value		Loss		Value		Loss		Value		Loss
Obligations of U.S. government agencies		$	-	$	-	$	43	$	(2)	$	43	$	(2)
Mortgage backed securities
U.S. government sponsored entities and agencies		62,409		(581)		-		-		62,409		(581)
Non-agency		2,871		(15)		-		-		2,871		(15)
State and municipal securities		5,754		(88)		-		-		5,754		(88)
Asset backed securities		9,803		(54)		-		-		9,803		(54)

Total		$	80,837	$	(738)	$	43	$	(2)	$	80,880	$	(740)

December 31, 2012
Obligations of U.S. government agencies		$	-	$	-	$	44	$	(2)	$	44	$	(2)
Mortgage backed securities
U.S. government sponsored entities and agencies		83,092		(798)		-		-		83,092		(798)
Non-agency		7,204		(15)		719		(170)		7,923		(185)
State and municipal securities		9,813		(96)		-		-		9,813		(96)
Asset backed securities		9,828		(33)		-		-		9,828		(33)

Total		$	109,937	$	(942)	$	763	$	(172)	$	110,700	$	(1,114)

Schedule of proceeds from the sales and calls of securities and the associated gains and losses

	For the Three Months Ended March 31,
(dollar amounts in thousands)	2013		2012
Proceeds	$	89,245	$	12,482
Gross gains	4,204		303
Gross losses	(618)		-

Schedule of amortized cost and fair value maturities of available for sale investment securities

(dollar amounts in thousands)
March 31, 2013	One Year Or Less		Over 1 Through 5 Years		Over 5 Years Through 10 Years		Over 10 Years		Total
Obligations of U.S. government agencies	$	91	$	400	$	1,860	$	2,485	$	4,836
Mortgage backed securities
U.S. government sponsored entities and agencies	21,152		54,941		32,691		47,009		155,793
Non-agency	6,108		14,674		1,617		1,527		23,926
State and municipal securities	-		7,778		19,213		4,013		31,004
Asset backed securities	-		5,446		10,735		16,150		32,331
Total available for sale securities	$	27,351	$	83,239	$	66,116	$	71,184	$	247,890

Amortized cost	$	27,131	$	81,768	$	65,222	$	71,170	$	245,291

Weighted average yield	2.34%		2.63%		2.34%		2.68%		2.54%

Summary of earnings on both taxable and tax-exempt investment securities

	For the Three Months
	Ended March 31,
(dollar amounts in thousands)	2013		2012
Taxable earnings on investment securities
Obligations of U.S. government agencies	$	31	$	25
Mortgage backed securities	830		1,057
State and municipal securities	5		103
Corporate debt securities	-		176
Asset backed securities	112		25
Non-taxable earnings on investment securities
State and municipal securities	455		412

Total	$	1,433	$	1,798

- Definition

Tabular disclosure of investment income derived from investments in debt and equity securities consisting of interest income earned from investments in debt securities and on cash and cash equivalents, dividend income from investments in equity securities, and income or expense derived from the amortization of investment related discounts or premiums, respectively. This item does not include realized or unrealized gains or losses on the sale or holding of investments in debt and equity securities required to be included in earnings for the period or for other than temporary losses related to investments in debt and equity securities which are included in realized losses in the period recognized.

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- 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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