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Securities (Tables)

6 Months Ended

Jun. 30, 2012

Securities [Abstract]

Amortized cost and fair value of securities

The amortized cost and fair value of securities at June 30, 2012 are summarized as follows:

Available-for-Sale

(in thousands)		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
U.S. Treasury and government agencies		$	26,169			$	496			$	0			$	26,665
State and political subdivisions			93,572				4,676				(81	)			98,167
U.S. government sponsored agency mortgage-backed securities			464,903				12,950				(7	)			477,846
Total debt securities			584,644				18,122				(88	)			602,678
Marketable equity securities			25,582				1,023				(41	)			26,564
Total available-for-sale securities		$	610,226			$	19,145			$	(129	)		$	629,242

Held-to-Maturity

(in thousands)		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
U.S. Treasury and government agencies		$	480			$	0			$	0			$	480
State and political subdivisions			1,182				0				0				1,182
Total held-to-maturity securities		$	1,662			$	0			$	0			$	1,662

The amortized cost and fair value of securities as of December 31, 2011 are summarized as follows:

Available-for-Sale

(in thousands)		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
U.S. Treasury and government agencies		$	32,077			$	1,171			$	0			$	33,248
State and political subdivisions			68,358				3,816				(30	)			72,144
U.S. government sponsored agency mortgage-backed securities			390,714				10,186				(57	)			400,843
Total debt securities			491,149				15,173				(87	)			506,235
Marketable equity securities			20,582				718				(137	)			21,163
Total available-for-sale securities		$	511,731			$	15,891			$	(224	)		$	527,398

Held-to-Maturity

(in thousands)		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
U.S. Treasury and government agencies		$	480			$	0			$	(1	)		$	479
State and political subdivisions			1,182				0				0				1,182
Total held-to-maturity securities		$	1,662			$	0			$	(1	)		$	1,661

Amortized cost and fair value of securities by contractual maturity

The amortized cost and fair value of securities at June 30, 2012 by contractual maturity are shown below.  Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

		Available-for-Sale								Held-to-Maturity
(in thousands)		Amortized Cost				Fair Value				Amortized Cost				Fair Value
Due in one year or less		$	6,869			$	6,917			$	0			$	0
Due after one through five years			22,426				23,373				0				0
Due after five through ten years			56,828				59,180				1,662				1,662
Due after ten years			33,618				35,362				0				0
U.S. government sponsored agency mortgage-backed securities			464,903				477,846				0				0
Total debt securities			584,644				602,678				1,662				1,662
Marketable equity securities			25,582				26,564				0				0
Total securities		$	610,226			$	629,242			$	1,662			$	1,662

Available for sale securities and Held-to-maturity securities, continuous unrealized loss position

Available-for-Sale

(in thousands)		Amortized Cost				Gross Unrealized Losses				Fair Value
Less Than 12 Months
State and political subdivisions		$	8,129			$	(81	)		$	8,048
U.S. government sponsored agency mortgage-backed securities			10,292				(7	)			10,285
Total debt securities			18,421				(88	)			18,333
Total <12 months temporarily impaired AFS securities			18,421				(88	)			18,333
12 Months or More
State and political subdivisions			105				0				105
Total debt securities			105				0				105
Marketable equity securities			329				(41	)			288
Total ≥12 months temporarily impaired AFS securities			434				(41	)			393
Total
State and political subdivisions			8,234				(81	)			8,153
U.S. government sponsored agency mortgage-backed securities			10,292				(7	)			10,285
Total debt securities			18,526				(88	)			18,438
Marketable equity securities			329				(41	)			288
Total temporarily impaired AFS securities		$	18,855			$	(129	)		$	18,726

Available-for-Sale

(in thousands)		Amortized Cost				Gross Unrealized Losses				Fair Value
Less Than 12 Months
State and political subdivisions		$	6,173			$	(25	)		$	6,148
U.S. government sponsored agency mortgage-backed securities			17,900				(57	)			17,843
Total debt securities			24,073				(82	)			23,991
Total <12 months temporarily impaired AFS securities			24,073				(82	)			23,991
12 Months or More
State and political subdivisions			613				(5	)			608
Total debt securities			613				(5	)			608
Marketable equity securities			329				(137	)			192
Total ≥12 months temporarily impaired AFS securities			942				(142	)			800
Total
State and political subdivisions			6,786				(30	)			6,756
U.S. government sponsored agency mortgage-backed securities			17,900				(57	)			17,843
Total debt securities			24,686				(87	)			24,599
Marketable equity securities			329				(137	)			192
Total temporarily impaired AFS securities		$	25,015			$	(224	)		$	24,791

Held-to-Maturity

(in thousands)		Amortized Cost				Gross Unrealized Losses				Fair Value
Less Than 12 Months
U.S. Treasury and government agencies		$	480			$	(1	)		$	479
Total temporarily impaired HTM securities		$	480			$	(1	)		$	479

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- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

+ References

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- Definition

For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 320

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563

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- Definition

Tabular disclosure of unrealized gains and losses on investments.

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