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Investment in Securities | 12 Months Ended
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Dec. 31, 2011
Investment In Securities [Abstract] |
Investment In Securities [Text Block] | Note 3 Investment in Securities Investment securities available-for-sale are recorded at fair value on a recurring basis. The Company’s investment securities available-for-sale at December 31, 2011 and 2010 are measured at fair value using Level 2 valuations. The market evaluation utilizes several sources which include “observable inputs” rather than “significant unobservable inputs” and therefore falls into the Level 2 category. The table below presents the balances of securities available-for-sale measured at fair value on a recurring basis. The amortized cost, gross unrealized gains, gross unrealized losses and fair value of debt and equity securities are summarized as follows:
|  | December 31, 2011
|  |  |  |  | Gross |  |  | Gross |  |  |
|  | Amortized |  | Unrealized |  |  | Unrealized |  |  |
(In thousands) |  | Cost |  | Gains |  |  | Losses |  | Fair Value
State and political subdivisions |  | $ | 287,585 |  | $ | 19,797 |  | $ | 20 |  | $ | 307,362
Certificates of deposit |  |  | 3,250 |  |  | — |  |  | — |  |  | 3,250
Total |  | $ | 290,835 |  | $ | 19,797 |  | $ | 20 |  | $ | 310,612
|  | December 31, 2010
|  |  |  |  | Gross |  | Gross |  |  |
|  | Amortized |  | Unrealized |  | Unrealized |  |  |
(In thousands) |  | Cost |  | Gains |  | Losses |  | Fair Value
State and political subdivisions |  | $ | 255,929 |  | $ | 9,829 |  | $ | 1,189 |  | $ | 264,569
Total |  | $ | 255,929 |  | $ | 9,829 |  | $ | 1,189 |  | $ | 264,569
The fair values of securities with unrealized losses are as follows:
|  | December 31, 2011
|  | Less than 12 months |  | 12 months or more |  | Total
|  | Estimated |  | Unrealized |  | Estimated |  | Unrealized |  | Estimated |  | Unrealized
(In thousands) |  | Fair Value |  | Losses |  | Fair Value |  | Losses |  | Fair value |  | Losses
State and political subdivisions |  | $ | 4,362 |  | $ | 20 |  | $ | — |  | $ | — |  | $ | 4,362 |  | $ | 20
Certificates of deposit |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Total |  | $ | 4,362 |  | $ | 20 |  | $ | — |  | $ | — |  | $ | 4,362 |  | $ | 20
|  | December 31, 2010
|  | Less than 12 months |  | 12 months or more |  | Total
|  | Estimated |  | Unrealized |  | Estimated |  | Unrealized |  | Estimated |  | Unrealized
(In thousands) |  | Fair Value |  | Losses |  | Fair Value |  | Losses |  | Fair value |  | Losses
State and political subdivisions |  | $ | 53,741 |  | $ | 1,189 |  | $ | — |  | $ | — |  | $ | 53,741 |  | $ | 1,189
Total |  | $ | 53,741 |  | $ | 1,189 |  | $ | — |  | $ | — |  | $ | 53,741 |  | $ | 1,189
There were 7 securities (none greater than 12 months) in an unrealized loss position as of December 31, 2011 compared to 61 securities (none greater than 12 months) in an unrealized loss position as of December 31, 2010 . All unrealized losses are reviewed to determine whether the losses are other than temporary. Management believes that all unrealized losses are temporary since they are market driven and the Company has the ability and intent to hold these securities until maturity. The amortized cost and fair value of debt and equity securities by contractual maturity are shown in the following table. Expected maturities may differ from contractual maturities because borrowers have the right to prepay obligations with or without prepayment penalties.
|  | December 31, 2011
(In thousands) |  | Amortized Cost |  | Fair Value
Due in 1 year or less |  | $ | 16,289 |  | $ | 16,512
Due after 1 year through 5 years |  |  | 41,109 |  |  | 44,131
Due after 5 years through 10 years |  |  | 114,454 |  |  | 124,680
Due after 10 years |  |  | 118,983 |  |  | 125,289
No stated maturity |  |  | — |  |  | —
Total |  | $ | 290,835 |  | $ | 310,612
The amortized cost of debt securities pledged to secure public deposits, securities sold under agreements to repurchase and for other purposes at December 31, 2011 and 2010 were $3,250,000 and $27,776,000 respectively. Proceeds from sales of debt securities classified as available-for-sale were $5,930,000 in 2011, $0 in 2010, and $21,906,000 in 2009. Gross realized gains on the sales in 2011, 2010 and 2009 were $48,000, $0 and $699,000, respectively; gross realized losses on sales in 2011, 2010 and 2009 were $5,000, $0 and $2,000, respectively.

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