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Securities (Tables) | 9 Months Ended
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Sep. 30, 2014
Investments, Debt and Equity Securities [Abstract] |
Fair Value of Securities | The fair value of securities is as follows:
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
September 30, 2014 |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and federal agencies |  | $ | 27,093 |  |  | $ | 67 |  |  | $ | (335 | ) |  | $ | 26,825 |
State and municipal |  |  | 47,006 |  |  |  | 1,641 |  |  |  | (52 | ) |  |  | 48,595 |
Federal agency collateralized mortgage obligations |  |  | 123,916 |  |  |  | 970 |  |  |  | (1,758 | ) |  |  | 123,128 |
Federal agency mortgage-backed pools |  |  | 122,393 |  |  |  | 2,678 |  |  |  | (962 | ) |  |  | 124,109 |
Private labeled mortgage-backed pools |  |  | 763 |  |  |  | 23 |  |  |  | - |  |  |  | 786 |
Corporate notes |  |  | 32 |  |  |  | 17 |  |  |  | - |  |  |  | 49 |
Total available for sale investment securities |  | $ | 321,203 |  |  | $ | 5,396 |  |  | $ | (3,107 | ) |  | $ | 323,492 |
Held to maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and federal agencies |  | $ | 9,783 |  |  | $ | 49 |  |  | $ | (4 | ) |  | $ | 9,828 |
State and municipal |  |  | 135,839 |  |  |  | 2,958 |  |  |  | (22 | ) |  |  | 138,775 |
Federal agency collateralized mortgage obligations |  |  | 4,193 |  |  |  | 9 |  |  |  | - |  |  |  | 4,202 |
Federal agency mortgage-backed pools |  |  | 22,634 |  |  |  | 399 |  |  |  | - |  |  |  | 23,033 |
Total held to maturity investment securities |  | $ | 172,449 |  |  | $ | 3,415 |  |  | $ | (26 | ) |  | $ | 175,838 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
December 31, 2013 |  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury and federal agencies |  | $ | 43,808 |  |  | $ | 133 |  |  | $ | (807 | ) |  | $ | 43,134 |
State and municipal |  |  | 176,670 |  |  |  | 4,405 |  |  |  | (3,177 | ) |  |  | 177,898 |
Federal agency collateralized mortgage obligations |  |  | 116,047 |  |  |  | 1,242 |  |  |  | (2,583 | ) |  |  | 114,706 |
Federal agency mortgage-backed pools |  |  | 170,006 |  |  |  | 3,172 |  |  |  | (2,284 | ) |  |  | 170,894 |
Private labeled mortgage-backed pools |  |  | 1,188 |  |  |  | 38 |  |  |  | — |  |  |  | 1,226 |
Corporate notes |  |  | 708 |  |  |  | 25 |  |  |  | — |  |  |  | 733 |
Total available for sale investment securities |  | $ | 508,427 |  |  | $ | 9,015 |  |  | $ | (8,851 | ) |  | $ | 508,591 |
Held to maturity, State and Municipal |  | $ | 9,910 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,910 |
Amortized Cost and Fair Value of Securities Available for Sale and Held to Maturity | The amortized cost and fair value of securities available for sale and held to maturity at September 30, 2014 and December 31, 2013, 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.
|  | September 30, 2014 |  |  | December 31, 2013 |
|  | Amortized Cost |  |  | Fair Value |  |  | Amortized Cost |  |  | Fair Value |
Available for sale |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Within one year |  | $ | 4,623 |  |  | $ | 4,670 |  |  | $ | 3,643 |  |  | $ | 3,663 |
One to five years |  |  | 45,741 |  |  |  | 46,156 |  |  |  | 49,198 |  |  |  | 49,627 |
Five to ten years |  |  | 17,166 |  |  |  | 17,888 |  |  |  | 106,225 |  |  |  | 107,424 |
After ten years |  |  | 6,601 |  |  |  | 6,755 |  |  |  | 62,120 |  |  |  | 61,051 |
|  |  | 74,131 |  |  |  | 75,469 |  |  |  | 221,186 |  |  |  | 221,765 |
Federal agency collateralized mortgage obligations |  |  | 123,916 |  |  |  | 123,128 |  |  |  | 116,047 |  |  |  | 114,706 |
Federal agency mortgage-backed pools |  |  | 122,393 |  |  |  | 124,109 |  |  |  | 170,006 |  |  |  | 170,894 |
Private labeled mortgage-backed pools |  |  | 763 |  |  |  | 786 |  |  |  | 1,188 |  |  |  | 1,226 |
Total available for sale investment securities |  | $ | 321,203 |  |  | $ | 323,492 |  |  | $ | 508,427 |  |  | $ | 508,591 |
Held to maturity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Within one year |  | $ | 5,951 |  |  | $ | 6,136 |  |  | $ | 9,910 |  |  | $ | 9,910 |
One to five years |  |  | 381 |  |  |  | 382 |  |  |  | — |  |  |  | — |
Five to ten years |  |  | 93,628 |  |  |  | 95,216 |  |  |  | — |  |  |  | — |
After ten years |  |  | 45,662 |  |  |  | 46,869 |  |  |  | — |  |  |  | — |
|  |  | 145,622 |  |  |  | 148,603 |  |  |  | 9,910 |  |  |  | 9,910 |
Federal agency collateralized mortgage obligations |  |  | 4,193 |  |  |  | 4,202 |  |  |  | — |  |  |  | — |
Federal agency mortgage-backed pools |  |  | 22,634 |  |  |  | 23,033 |  |  |  | — |  |  |  | — |
Total held to maturity investment securities |  | $ | 172,449 |  |  | $ | 175,838 |  |  | $ | 9,910 |  |  | $ | 9,910 |
Gross Unrealized Losses and Fair Value of Company's Investments | The following table shows the gross unrealized losses and the fair value of the Company’s investments, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position.
|  | Less than 12 Months |  |  | 12 Months or More |  |  | Total |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
September 30, 2014 |  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
U.S. Treasury and federal agencies |  | $ | 3,956 |  |  | $ | (4 | ) |  | $ | 23,648 |  |  | $ | (335 | ) |  | $ | 27,604 |  |  | $ | (339 | )
State and municipal |  |  | 6,200 |  |  |  | (35 | ) |  |  | 2,674 |  |  |  | (39 | ) |  |  | 8,874 |  |  |  | (74 | )
Federal agency collateralized mortgage obligations |  |  | 37,987 |  |  |  | (318 | ) |  |  | 40,882 |  |  |  | (1,440 | ) |  |  | 78,869 |  |  |  | (1,758 | )
Federal agency mortgage-backed pools |  |  | 7,945 |  |  |  | (26 | ) |  |  | 33,870 |  |  |  | (936 | ) |  |  | 41,815 |  |  |  | (962 | )
Total temporarily impaired securities |  | $ | 56,088 |  |  | $ | (383 | ) |  | $ | 101,074 |  |  | $ | (2,750 | ) |  | $ | 157,162 |  |  | $ | (3,133 | )
|  | Less than 12 Months |  |  | 12 Months or More |  |  | Total |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
December 31, 2013 |  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
U.S. Treasury and federal agencies |  | $ | 32,099 |  |  | $ | (807 | ) |  | $ | — |  |  | $ | — |  |  | $ | 32,099 |  |  | $ | (807 | )
State and municipal |  |  | 57,078 |  |  |  | (2,993 | ) |  |  | 3,206 |  |  |  | (184 | ) |  |  | 60,284 |  |  |  | (3,177 | )
Federal agency collateralized mortgage obligations |  |  | 64,445 |  |  |  | (2,121 | ) |  |  | 8,601 |  |  |  | (462 | ) |  |  | 73,046 |  |  |  | (2,583 | )
Federal agency mortgage-backed pools |  |  | 87,919 |  |  |  | (2,284 | ) |  |  | — |  |  |  | — |  |  |  | 87,919 |  |  |  | (2,284 | )
Total temporarily impaired securities |  | $ | 241,541 |  |  | $ | (8,205 | ) |  | $ | 11,807 |  |  | $ | (646 | ) |  | $ | 253,348 |  |  | $ | (8,851 | )
Sales of Securities Available for Sale |
|  | Three Months Ended September 30 |  |  | Nine Months Ended September 30 |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Sales of securities available for sale (Unaudited) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds |  | $ | 45,228 |  |  | $ | 648 |  |  | $ | 45,228 |  |  | $ | 23,853 |
Gross gains |  |  | 1,001 |  |  |  | 6 |  |  |  | 1,001 |  |  |  | 382 |
Gross losses |  |  | (13 | ) |  |  | — |  |  |  | (13 | ) |  |  | (8 | )

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- Definition Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + 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=27724398&loc=d3e27290-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27357-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27337-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27198-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62586-112803 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27161-111563 + Details
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