Securities (Tables)

3 Months Ended

Mar. 31, 2014

Investments Debt And Equity Securities [Abstract]

Securities available for sale at March 31, 2014 and December 31, 2013 are as follows:


	March 31, 2014									December 31, 2013
	Amortized		Unrealized					Fair		Amortized		Unrealized					Fair
	Cost		Gains		Losses			Value		Cost		Gains		Losses			Value
U.S. Treasury	$	0	$	0	$	0		$	0	$	0	$	0	$	0		$	0
U.S. Gov’t sponsored entities		184,938		2,899		(5,110	)		182,727		185,205		2,894		(6,474	)		181,625
State & political subdivisions		172,586		4,964		(1,282	)		176,268		176,490		3,770		(2,317	)		177,943
Residential & multi-family mortgage		248,878		2,263		(5,313	)		245,828		248,017		2,410		(7,820	)		242,607
Commercial mortgage		232		0		(7	)		225		385		0		(11	)		374
Corporate notes & bonds		15,746		93		(1,637	)		14,202		15,744		65		(1,734	)		14,075
Pooled trust preferred		800		0		(2	)		798		800		0		(139	)		661
Pooled SBA		68,749		797		(2,722	)		66,824		70,077		688		(3,044	)		67,721
Other securities		1,020		0		(30	)		990		1,020		0		(35	)		985

Total	$	692,949	$	11,016	$	(16,103	)	$	687,862	$	697,738	$	9,827	$	(21,574	)	$	685,991

Trading Securities

Trading securities at March 31, 2014 and December 31, 2013 are as follows:


	March 31, 2014		December 31, 2013
Corporate equity securities	$	2,680	$	2,705
Mutual funds		933		965
Certificates of deposit		254		253
Corporate notes and bonds		152		152
U.S. Government sponsored entities		54		52

Total	$	4,073	$	4,127

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 March 31, 2014 and December 31, 2013, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows (in thousands):

March 31, 2014


	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		86,700		(3,868	)		28,237		(1,242	)		114,937		(5,110	)
State & political subdivisions		40,214		(1,037	)		5,762		(245	)		45,976		(1,282	)
Residential & multi-family mortgage		143,416		(4,088	)		21,511		(1,225	)		164,927		(5,313	)
Commercial mortgage		0		0			255		(7	)		255		(7	)
Corporate notes & bonds		0		0			9,761		(1,637	)		9,761		(1,637	)
Pooled trust preferred		0		0			798		(2	)		798		(2	)
Pooled SBA		25,259		(1,255	)		18,400		(1,467	)		43,659		(2,722	)
Other securities		990		(30	)		0		0			990		(30	)

	$	296,579	$	(10,278	)	$	84,724	$	(5,825	)	$	381,303	$	(16,103	)

December 31, 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		95,677		(5,394	)		17,964		(1,080	)		113,641		(6,474	)
State & political subdivisions		57,526		(2,192	)		5,324		(125	)		62,850		(2,317	)
Residential and multi-family mortgage		150,229		(6,806	)		16,608		(1,014	)		166,837		(7,820	)
Commercial mortgage		374		(11	)		0		0			374		(11	)
Corporate notes & bonds		0		0			9,662		(1,734	)		9,662		(1,734	)
Pooled trust preferred		0		0			661		(139	)		661		(139	)
Pooled SBA		36,842		(2,296	)		8,277		(748	)		45,119		(3,044	)
Other securities		985		(35	)		0		0			985		(35	)

	$	341,633	$	(16,734	)	$	58,496	$	(4,840	)	$	400,129	$	(21,574	)

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 months ended March 31, 2014 and 2013 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 March 31, 2014	$	12,951	$	149	$	83
Three months ended March 31, 2013		1,324		76		0

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 March 31, 2014:


	Amortized		Fair
	Cost		Value
1 year or less	$	32,146	$	31,894
1 year – 5 years		148,788		149,925
5 years – 10 years		154,290		154,341
After 10 years		38,846		37,835

		374,070		373,995
Residential and multi-family mortgage		248,878		245,828
Pooled SBA		68,749		66,824
Commercial mortgage		232		225

Total debt securities	$	691,929	$	686,872

- 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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