Securities (Tables)

9 Months Ended

Sep. 30, 2013

Investments Debt And Equity Securities [Abstract]

Securities available for sale at September 30, 2013 and December 31, 2012 are as follows:


	September 30, 2013									December 31, 2012
	Amortized		Unrealized					Fair		Amortized		Unrealized					Fair
	Cost		Gains		Losses			Value		Cost		Gains		Losses			Value
U.S. Treasury	$	2,003	$	4	$	0		$	2,007	$	4,018	$	18	$	0		$	4,036
U.S. Gov’t sponsored entities		179,875		3,175		(5,820	)		177,230		157,965		5,977		(161	)		163,781
State & political subdivisions		177,503		4,416		(2,056	)		179,863		170,223		11,113		(57	)		181,279
Residential & multi-family mortgage		258,466		2,945		(6,372	)		255,039		308,800		8,724		(702	)		316,822
Commercial mortgage		971		0		(21	)		950		1,275		29		0			1,304
Corporate notes & bonds		15,741		56		(1,640	)		14,157		17,368		26		(2,370	)		15,024
Pooled trust preferred		800		0		(24	)		776		800		0		(200	)		600
Pooled SBA		71,924		652		(3,063	)		69,513		50,667		2,277		(17	)		52,927
Other securities		1,020		0		(24	)		996		1,521		17		0			1,538

Total	$	708,303	$	11,248	$	(19,020	)	$	700,531	$	712,637	$	28,181	$	(3,507	)	$	737,311

Trading Securities

Trading securities at September 30, 2013 and December 31, 2012 are as follows:


	September 30, 2013		December 31, 2012
Corporate equity securities	$	2,998	$	3,117
Certificates of deposit		253		408
International mutual funds		257		287
Large cap growth mutual funds		182		157
Large cap value mutual funds		121		104
Real estate investment trust mutual funds		40		65
Corporate notes and bonds		152		101
Mid cap mutual funds		81		26
Small cap mutual funds		81		26
U.S. Government sponsored entities		53		58
Commodities mutual funds		54		0
Money market mutual funds		86		110

Total	$	4,358	$	4,459

Securities with Unrealized Losses Aggregated by Investment Category and Length of Time that Individual Securities have been in Continuous Unrealized Loss Position

Securities with unrealized losses at September 30, 2013 and December 31, 2012, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows (in thousands):

September 30, 2013


	Less than 12 Months					12 Months or More					Total
	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		110,419		(5,820	)		0		0			110,419		(5,820	)
State & political subdivisions		58,955		(2,047	)		474		(9	)		59,429		(2,056	)
Residential & multi-family mortgage		157,880		(6,201	)		5,124		(171	)		163,004		(6,372	)
Commercial mortgage		950		(21	)		0		0			950		(21	)
Corporate notes & bonds		0		0			9,754		(1,640	)		9,754		(1,640	)
Pooled trust preferred		0		0			776		(24	)		776		(24	)
Pooled SBA		40,735		(2,933	)		1,802		(130	)		42,537		(3,063	)
Other securities		996		(24	)		0		0			996		(24	)

	$	369,935	$	(17,046	)	$	17,930	$	(1,974	)	$	387,865	$	(19,020	)

December 31, 2012


	Less than 12 Months					12 Months or More					Total
	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		41,715		(161	)		0		0			41,715		(161	)
State & political subdivisions		7,857		(57	)		0		0			7,857		(57	)
Residential & multi-family mortgage		32,159		(688	)		4,254		(14	)		36,413		(702	)
Commercial mortgage		0		0			0		0			0		0
Corporate notes & bonds		0		0			13,002		(2,370	)		13,002		(2,370	)
Pooled trust preferred		0		0			600		(200	)		600		(200	)
Pooled SBA		3,521		(17	)		0		0			3,521		(17	)
Other securities		0		0			0		0			0		0

	$	85,252	$	(923	)	$	17,856	$	(2,584	)	$	103,108	$	(3,507	)

Roll-Forward of 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 nine months ended September 30, 2013 and 2012 is as follows:


Balance of credit losses on debt securities for which a portion of other-than-temporary impairment was recognized in earnings, 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 earnings, 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 September 30, 2013	$	0	$	0	$	0
Nine months ended September 30, 2013		33,672		822		(494	)
Three months ended September 30, 2012		4,090		103		0
Nine months ended September 30, 2012		92,707		1,549		(149	)

Schedule of 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 September 30, 2013:


	Amortized		Fair
	Cost		Value
1 year or less	$	31,904	$	31,651
1 year – 5 years		137,688		138,186
5 years – 10 years		163,672		162,836
After 10 years		42,658		41,360

		375,922		374,033
Residential and multi-family mortgage		258,466		255,039
Pooled SBA		71,924		69,513
Commercial mortgage		971		950

Total debt securities	$	707,283	$	699,535

- 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.

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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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- Definition

Tabular disclosure of investments in trading securities.

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