XML 55 R21.htm IDEA: XBRL DOCUMENT
v2.4.0.8

SECURITIES (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2014
SECURITIES [Abstract] |
Amortized cost and estimated fair value of securities available for sale | Amortized cost and estimated fair value of securities available for sale are as follows (dollars in thousands):
|  | June 30, 2014 |
|  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Estimated Fair Value |
Obligations of U.S. Government and U.S. Government sponsored enterprises |  | $ | 166,253 |  |  | $ | 1,789 |  |  | $ | 96 |  |  | $ | 167,946 |
Mortgage-backed securities, residential |  |  | 66,933 |  |  |  | 1,007 |  |  |  | 16 |  |  |  | 67,924 |
Collateralized mortgage obligations |  |  | 606 |  |  |  | 8 |  |  |  | - |  |  |  | 614 |
Obligations of states and political subdivisions |  |  | 34,958 |  |  |  | 1,016 |  |  |  | 27 |  |  |  | 35,947 |
Corporate bonds and notes |  |  | 2,610 |  |  |  | 50 |  |  |  | 5 |  |  |  | 2,655 |
SBA loan pools |  |  | 1,383 |  |  |  | 16 |  |  |  | 1 |  |  |  | 1,398 |
Trust Preferred securities |  |  | 1,902 |  |  |  | 132 |  |  |  | - |  |  |  | 2,034 |
Corporate stocks |  |  | 443 |  |  |  | 7,439 |  |  |  | 2 |  |  |  | 7,880 |
Total |  | $ | 275,088 |  |  | $ | 11,457 |  |  | $ | 147 |  |  | $ | 286,398 |
|  | December 31, 2013 |
|  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Estimated Fair Value |
Obligations of U.S. Government and U.S. Government sponsored enterprises |  | $ | 187,098 |  |  | $ | 1,915 |  |  | $ | 907 |  |  | $ | 188,106 |
Mortgage-backed securities, residential |  |  | 104,069 |  |  |  | 1,036 |  |  |  | 749 |  |  |  | 104,356 |
Collateralized mortgage obligations |  |  | 1,001 |  |  |  | 14 |  |  |  | - |  |  |  | 1,015 |
Obligations of states and political subdivisions |  |  | 37,339 |  |  |  | 1,059 |  |  |  | 22 |  |  |  | 38,376 |
Corporate bonds and notes |  |  | 2,879 |  |  |  | 76 |  |  |  | 9 |  |  |  | 2,946 |
SBA loan pools |  |  | 1,471 |  |  |  | 17 |  |  |  | - |  |  |  | 1,488 |
Trust preferred securities |  |  | 1,898 |  |  |  | 136 |  |  |  | - |  |  |  | 2,034 |
Corporate stocks |  |  | 444 |  |  |  | 7,253 |  |  |  | 2 |  |  |  | 7,695 |
Total |  | $ | 336,199 |  |  | $ | 11,506 |  |  | $ | 1,689 |  |  | $ | 346,016 |
Amortized cost and estimated fair value of securities held to maturity | Amortized cost and estimated fair value of securities held to maturity are as follows (dollars in thousands):
| June 30, 2014 |
| Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value |
Obligations of states and political subdivisions |  | $ | 4,503 |  |  | $ | 355 |  |  | $ | - |  |  | $ | 4,858 |
Time deposits with other financial institutions |  |  | 771 |  |  |  | 3 |  |  |  | - |  |  |  | 774 |
Total |  | $ | 5,274 |  |  | $ | 358 |  |  | $ | - |  |  | $ | 5,632 |
| December 31, 2013 |
| Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value |
Obligations of states and political subdivisions |  | $ | 5,472 |  |  | $ | 419 |  |  | $ | - |  |  | $ | 5,891 |
Time deposits with other financial institutions |  |  | 1,023 |  |  |  | 16 |  |  |  | - |  |  |  | 1,039 |
Total |  | $ | 6,495 |  |  | $ | 435 |  |  | $ | - |  |  | $ | 6,930 |
Amortized cost and estimated fair value of debt securities by contractual maturity | The amortized cost and estimated fair value of debt securities are shown below by expected maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately (dollars in thousands):
|  | June 30, 2014 |
|  | Available for Sale |  |  | Held to Maturity |
|  | Amortized |  |  | Fair |  |  | Amortized |  |  | Fair |
|  | Cost |  |  | Value |  |  | Cost |  |  | Value |
Within One Year |  | $ | 27,621 |  |  | $ | 27,954 |  |  | $ | 1,903 |  |  | $ | 1,921 |
After One, But Within Five Years |  |  | 171,537 |  |  |  | 173,982 |  |  |  | 2,219 |  |  |  | 2,390 |
After Five, But Within Ten Years |  |  | 6,565 |  |  |  | 6,646 |  |  |  | 1,152 |  |  |  | 1,321 |
After Ten Years |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  |  | 205,723 |  |  |  | 208,582 |  |  |  | 5,274 |  |  |  | 5,632 |
Mortgage-backed securities, residential |  |  | 66,933 |  |  |  | 67,924 |  |  |  |  |  |  |  |  |
Collateralized mortgage obligations |  |  | 606 |  |  |  | 614 |  |  |  |  |  |  |  |  |
SBA loan pools |  |  | 1,383 |  |  |  | 1,398 |  |  |  |  |  |  |  |  |
Total |  | $ | 274,645 |  |  | $ | 278,518 |  |  | $ | 5,274 |  |  | $ | 5,632 |
Proceeds from sales and calls of securities resulting in gains or losses | The proceeds from sales and calls of securities resulting in gains or losses at June 30, 2014 and June 30, 2013 are listed below (dollars in thousands):
|  | 2014 |  |  | 2013 |
Proceeds |  | $ | 49,765 |  |  | $ | 10,534 |
Gross gains |  | $ | 522 |  |  | $ | 1 |
Gross losses |  | $ | - |  |  | $ | - |
Tax expense |  | $ | 201 |  |  | $ | - |
Investment securities available for sale in an unrealized loss position | The following tables summarize the investment securities available for sale with unrealized losses at June 30, 2014 and December 31, 2013 by aggregated major security type and length of time in a continuous unrealized loss position (dollars in thousands):
|  | Less than 12 months |  |  | 12 months or longer |  |  | Total |
June 30, 2014 |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
Obligations of U.S. Government and U.S. Government sponsored enterprises |  | $ | 19,800 |  |  | $ | 21 |  |  | $ | 15,728 |  |  | $ | 75 |  |  | $ | 35,528 |  |  | $ | 96 |
Mortgage-backed securities, residential |  |  | 5,587 |  |  |  | 16 |  |  |  |  |  |  |  | - |  |  |  | 5,587 |  |  |  | 16 |
Obligations of states and political subdivisions |  |  | 4,440 |  |  |  | 24 |  |  |  | 737 |  |  |  | 3 |  |  |  | 5,177 |  |  |  | 27 |
Corporate bonds and notes |  |  | - |  |  |  | - |  |  |  | 242 |  |  |  | 5 |  |  |  | 242 |  |  |  | 5 |
SBA loan pools |  |  | 620 |  |  |  | 1 |  |  |  | - |  |  |  | - |  |  |  | 620 |  |  |  | 1 |
Corporate stocks |  |  | - |  |  |  | - |  |  |  | 2 |  |  |  | 2 |  |  |  | 2 |  |  |  | 2 |
Total temporarily impaired securities |  | $ | 30,447 |  |  | $ | 62 |  |  | $ | 16,709 |  |  | $ | 85 |  |  | $ | 47,156 |  |  | $ | 147 |
|  | Less than 12 months |  |  | 12 months or longer |  |  | Total |
December 31, 2013 |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
Obligations of U.S. Government and U.S. Government sponsored enterprises |  | $ | 83,840 |  |  | $ | 867 |  |  | $ | 1,978 |  |  | $ | 39 |  |  | $ | 85,818 |  |  | $ | 906 |
Mortgage-backed securities, residential |  |  | 63,115 |  |  |  | 750 |  |  |  | - |  |  |  | - |  |  |  | 63,115 |  |  |  | 750 |
Obligations of states and political subdivisions |  |  | 4,589 |  |  |  | 22 |  |  |  | - |  |  |  | - |  |  |  | 4,589 |  |  |  | 22 |
Corporate bonds and notes |  |  | 238 |  |  |  | 9 |  |  |  | - |  |  |  | - |  |  |  | 238 |  |  |  | 9 |
Corporate stocks |  |  | - |  |  |  | - |  |  |  | 2 |  |  |  | 2 |  |  |  | 2 |  |  |  | 2 |
Total temporarily impaired securities |  | $ | 151,782 |  |  | $ | 1,648 |  |  | $ | 1,980 |  |  | $ | 41 |  |  | $ | 153,762 |  |  | $ | 1,689 |
Roll forward of the cumulative credit losses recognized in earnings | The tables below present a roll forward of the cumulative credit losses recognized in earnings for the three and six-month periods ending June 30, 2014 and 2013 (dollars in thousands):
|  | 2014 |  |  | 2013 |
Beginning balance, January 1, |  | $ | 1,939 |  |  | $ | 3,506 |
Amounts related to credit loss for which an other-than-temporary impairment was not previously recognized |  |  | - |  |  |  | - |
Additions/Subtractions: |  |  |  |  |  |  |  |
Amounts realized for securities sold during the period |  |  | - |  |  |  | - |
Amounts related to securities for which the company intends to sell or that it will be more likely than not that the company will be required to sell prior to recovery of amortized cost basis |  |  | - |  |  |  | - |
Reductions for increase in cash flows expected to be collected that are recognized over the remaining life of the security |  |  | - |  |  |  | - |
Reductions for previous credit losses realized in securities liquidated during the period |  |  | (1,939 | ) |  |  | - |
Increases to the amount related to the credit loss for which other-than-temporary impairment was previously recognized |  |  | - |  |  |  | - |
Ending balance, June 30, |  | $ | - |  |  | $ | 3,506 |
|  | 2014 |  |  | 2013 |
Beginning balance, April 1, |  | $ | - |  |  | $ | 3,506 |
Amounts related to credit loss for which an other-than-temporary impairment was not previously recognized |  |  | - |  |  |  | - |
Additions/Subtractions: |  |  |  |  |  |  |  |
Amounts realized for securities sold during the period |  |  | - |  |  |  | - |
Amounts related to securities for which the company intends to sell or that it will be more likely than not that the company will be required to sell prior to recovery of amortized cost basis |  |  | - |  |  |  | - |
Reductions for increase in cash flows expected to be collected that are recognized over the remaining life of the security |  |  | - |  |  |  | - |
Reductions for previous credit losses realized in securities liquidated during the period |  |  | - |  |  |  | - |
Increases to the amount related to the credit loss for which other-than-temporary impairment was previously recognized |  |  | - |  |  |  | - |
Ending balance, June 30, |  | $ | - |  |  | $ | 3,506 |

X
- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27290-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27357-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27337-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27198-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62586-112803 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27161-111563 + Details
Name: | us-gaap_AvailableForSaleSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the realized and unrealized gains and losses reported in the statement of income which have resulted from the sale and holding of marketable securities, respectively, as well as the sale or disposal of cost method investments. Such amounts would include realized gains and losses on the sale or disposal of trading, available-for-sale, and held-to-maturity securities, unrealized gains and losses on trading securities, unrealized gains and losses on available-for-sale and held-to-maturity securities transferred to the trading securities category, realized gains and losses on the sale or disposal of cost method investments, and losses recognized for other than temporary impairments (OTTI) of such investments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 25 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=28360136&loc=d3e22054-111558 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.M) -URI http://asc.fasb.org/extlink&oid=27011274&loc=d3e87990-122713 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27405-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (c)-(e) -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27357-111563 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section M + Details
Name: | us-gaap_GainLossOnInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of all investments in certain debt and equity securities for which the entity has the positive intent and ability to hold until maturity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27290-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=35738203&loc=d3e5086-111524 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27232-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27337-111563 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62586-112803 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6435544&loc=d3e41834-113960 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27405-111563 + Details
Name: | us-gaap_HeldToMaturitySecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
Name: | us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27340-111563 + Details
Name: | us-gaap_OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27290-111563 + Details
Name: | us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration