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Securities (Tables)

6 Months Ended

Jun. 30, 2012

Securities [Abstract]

Securities available for sale

Securities available for sale at June 30, 2012 and December 31, 2011 are as follows:

		June 30, 2012																December 31, 2011
		Amortized Cost				Unrealized								Fair Value				Amortized Cost				Unrealized								Fair Value
						Gains				Losses												Gains				Losses
U.S. Treasury		$	6,036			$	33			$	0			$	6,069			$	8,064			$	66			$	0			$	8,130
U.S. Gov’t sponsored entities			107,398				5,641				(9	)			113,030				102,258				5,249				(15	)			107,492
State & political subdivisions			151,321				10,316				(54	)			161,583				149,685				8,844				(92	)			158,437
Residential mortgage & asset backed			363,792				8,923				(279	)			372,436				292,297				8,043				(214	)			300,126
Commercial mortgage & asset backed			2,071				61				0				2,132				2,077				45				0				2,122
Corporate notes & bonds			16,364				62				(3,010	)			13,416				17,358				50				(3,548	)			13,860
Pooled trust preferred			800				0				(440	)			360				800				0				(460	)			340
Pooled SBA			43,062				1,830				(9	)			44,883				44,851				1,282				(77	)			46,056
Other securities			1,521				22				0				1,543				1,521				23				0				1,544
Total		$	692,365			$	26,888			$	(3,801	)		$	715,452			$	618,911			$	23,602			$	(4,406	)		$	638,107

Trading securities accounted for under the fair value option

Trading securities accounted for under the fair value option at June 30, 2012 and December 31, 2011 are as follows:

		June 30, 2012				December 31, 2011
Corporate equity securities		$	2,297			$	1,959
Certificates of deposit			382				255
International mutual funds			252				257
Large cap growth mutual funds			147				145
Money market mutual funds			108				241
Large cap value mutual funds			103				105
Corporate notes and bonds			101				100
Real estate investment trust mutual funds			64				68
U.S. Government sponsored entities			56				55
Small cap mutual funds			25				25
Mid cap mutual funds			25				23
Total		$	3,560			$	3,233

Securities with unrealized losses aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position

Securities with unrealized losses at June 30, 2012 and December 31, 2011, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows (in thousands):

June 30, 2012		Less than 12 Months								12 Months or More								Total
Description of Securities		Fair Value				Unrealized Loss				Fair Value				Unrealized Loss				Fair Value				Unrealized Loss
U.S. Treasury		$	0			$	0			$	0			$	0			$	0			$	0
U.S. Gov’t sponsored entities			5,989				(9	)			0				0				5,989				(9	)
State & political subdivisions			5,046				(53	)			1,591				(1	)			6,637				(54	)
Residential mortgage & asset backed			42,816				(276	)			743				(3	)			43,559				(279	)
Commercial mortgage & asset backed			0				0				0				0				0				0
Corporate notes & bonds			1,949				(51	)			9,492				(2,959	)			11,441				(3,010	)
Pooled trust preferred			0				0				360				(440	)			360				(440	)
Pooled SBA			2,022				(9	)			0				0				2,022				(9	)
Other securities			0				0				0				0				0				0
		$	57,822			$	(398	)		$	12,186			$	(3,403	)		$	70,008			$	(3,801	)
		Less than 12 Months								12 Months or More								Total
		Fair Value				Unrealized Loss				Fair Value				Unrealized Loss				Fair Value				Unrealized Loss
December 31, 2011
U.S. Treasury		$	0			$	0			$	0			$	0			$	0			$	0
U.S. Gov’t sponsored entities			7,671				(15	)			0				0				7,671				(15	)
State & political subdivisions			5,314				(92	)			0				0				5,314				(92	)
Residential mortgage & asset backed			36,626				(162	)			9,485				(52	)			46,111				(214	)
Commercial mortgage & asset backed			0				0				0				0				0				0
Corporate notes & bonds			2,860				(139	)			8,841				(3,409	)			11,701				(3,548	)
Pooled trust preferred			0				0				340				(460	)			340				(460	)
Pooled SBA			8,139				(77	)			0				0				8,139				(77	)
Other securities			0				0				0				0				0				0
		$	60,610			$	(485	)		$	18,666			$	(3,921	)		$	79,276			$	(4,406	)

A roll-forward of the other-than-temporary impairment amount related to credit losses

A roll-forward of the other-than-temporary impairment amount related to credit losses for the three and six months ended June 30, 2012 is as follows:

Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in other comprehensive income, beginning of period		$	4,054
Additional credit loss for which other-than-temporary impairment was not previously recognized			0
Additional credit loss for which other-than-temporary impairment was previously recognized			0
Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in other comprehensive income, end of period		$	4,054

A roll-forward of the other-than-temporary impairment amount related to credit losses for the three months ended June 30, 2011 is as follows:

Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in other comprehensive income, beginning of period		$	4,054
Additional credit loss for which other-than-temporary impairment was not previously recognized			0
Additional credit loss for which other-than-temporary impairment was previously recognized			0
Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in other comprehensive income, end of period		$	4,054

A roll-forward of the other-than-temporary impairment amount related to credit losses for the six months ended June 30, 2011 is as follows:

Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in other comprehensive income, beginning of period		$	3,656
Additional credit loss for which other-than-temporary impairment was not previously recognized			0
Additional credit loss for which other-than-temporary impairment was previously recognized			398
Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in other comprehensive income, end of period		$	4,054

Information pertaining to security sales

Information pertaining to security sales is as follows:

		Proceeds				Gross Gains				Gross Losses
Three months ended June 30, 2012		$	46,468			$	810			$	(79	)
Six months ended June 30, 2012			88,617				1,446				(149	)
Three months ended June 30, 2011			0				0				0
Six months ended June 30, 2011			23,610				146				(72	)

Schedule of the contractual maturity of securities available for sale, excluding equity securities

The following is a schedule of the contractual maturity of securities available for sale, excluding equity securities, at June 30, 2012:

		Amortized Cost				Fair Value
1 year or less		$	22,131			$	22,295
1 year – 5 years			80,606				83,067
5 years – 10 years			128,463				138,447
After 10 years			93,781				95,532
			324,981				339,341
Residential mortgage & asset backed securities			363,792				372,436
Commercial mortgage & asset backed securities			2,071				2,132
Total debt securities		$	690,844			$	713,909

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