SECURITIES (Tables)

3 Months Ended

Mar. 31, 2014

Investments Debt And Equity Securities [Abstract]

Amortized Cost and Fair Value of Securities with Gross Unrealized Gains and Losses

The amortized cost and fair value of securities, with gross unrealized gains and losses, follows:


	(In Thousands)
	March 31, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Market Value
Available-for-Sale:
U.S. Treasury	$	26,009	$	—	$	(780	)	$	25,229
U.S. Government agency		161,535		1,098		(2,767	)		159,866
Mortgage-backed securities		42,478		661		(324	)		42,815
State and local governments		78,717		1,745		(647	)		79,815

	$	308,739	$	3,504	$	(4,518	)	$	307,725


	(In Thousands)
	December 31, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Market Value
Available-for-Sale:
U.S. Treasury	$	26,067	$	—	$	(795	)	$	25,272
U.S. Government agency		174,772		1,386		(3,186	)		172,972
Mortgage-backed securities		44,638		728		(574	)		44,792
State and local governments		79,023		2,909		(459	)		81,473

	$	324,500	$	5,023	$	(5,014	)	$	324,509

Gross Unrealized Losses, Aggregated by Investment Category and Length of Time

Information pertaining to securities with gross 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 loss position follows:


	(In Thousands)
	March 31, 2014
	Less Than Twelve Months					Twelve Months & Over
	Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value
U.S. Treasury	$	(780	)	$	25,229	$	—		$	—
U.S. Government agency		(2,412	)		92,561		(355	)		4,646
Mortgage-backed securities		(324	)		20,008		—			—
State and local governments		(626	)		22,847		(21	)		389

Total available-for-sale securities	$	(4,142	)	$	160,645	$	(376	)	$	5,035


	(In Thousands)
	December 31, 2013
	Less Than Twelve Months					Twelve Months & Over
	Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value
U.S. Treasury	$	(795	)	$	25,272	$	—		$	—
U.S. Government agency		(2,783	)		96,241		(403	)		4,598
Mortgage-backed securities		(574	)		23,171		—			—
State and local governments		(459	)		19,594		—			—

Total available-for-sale securities	$	(4,611	)	$	164,278	$	(403	)	$	4,598

Gross Realized Gains and Losses

Below are the gross realized gains and losses as of March 31 for each of the years presented.


	(In Thousands)
	2014		2013
Gross realized gains	$	122	$	224
Gross realized losses		—		(3	)

Net realized gains	$	122	$	221

Tax expense related to net realized gains	$	42	$	75

Amortized Cost and Fair Value of Debt Securities, by Contractual Maturity

The amortized cost and fair value of debt securities at March 31, 2014, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.


	(In Thousands)
	Amortized Cost		Fair Value
One year or less	$	13,677	$	13,924
After one year through five years		169,784		170,039
After five years through ten years		74,346		72,885
After ten years		8,454		8,062

Total	$	266,261	$	264,910
Mortgage-backed securities		42,478		42,815

Total	$	308,739	$	307,725

- 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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