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Investment Securities (Tables)

9 Months Ended

Sep. 30, 2012

Investment Securities [Abstract]

Summary of investment securities


(in thousands)		September 30, 2012				December 31, 2011
U.S. treasury		$	2,036			$	2,054
Government sponsored enterprises			66,327				70,314
Asset-backed securities			113,207				107,329
Obligations of states and political subdivisions			35,218				34,109

Total available for sale securities		$	216,788			$	213,806

The amortized cost and fair value of debt securities


(in thousands)		Amortized cost				Gross unrealized gains				Gross unrealized losses				Fair value
September 30, 2012

U.S. Treasury		$	2,000			$	36			$	0			$	2,036
Government sponsored enterprises			65,400				927				0				66,327
Asset-backed securities			109,340				3,873				7				113,206
Obligations of states and political subdivisions			33,887				1,337				5				35,219

Total available for sale securities		$	210,627			$	6,173			$	12			$	216,788


(in thousands)		Amortized cost				Gross unrealized gains				Gross unrealized losses				Fair value
December 31, 2011

U.S. Treasury		$	2,000			$	54			$	0			$	2,054
Government sponsored enterprises			69,703				629				18				70,314
Asset-backed securities			103,806				3,547				24				107,329
Obligations of states and political subdivisions			32,716				1,394				1				34,109

Total available for sale securities		$	208,225			$	5,624			$	43			$	213,806

Contractual maturity of amortized cost and fair value of debt securities


(in thousands)		Amortized cost				Fair value
Due in one year or less		$	3,459			$	3,484
Due after one year through five years			74,943				76,232
Due after five years through ten years			22,022				22,966
Due after ten years			863				900

			101,287				103,582
Asset-backed securities			109,340				113,206

Total		$	210,627			$	216,788

Gross unrealized losses on debt securities and the fair value of the related securities


		Less than 12 months								12 months or more												Total
(in thousands)		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Number of Investment Positions				Fair Value				Unrealized Losses
At September 30, 2012
Asset-backed securities		$	5,257			$	(7	)		$	0			$	0				5			$	5,257			$	(7	)
Obligations of states and political subdivisions			2,189				(5	)			150				0				7				2,339				(5	)

		$	7,446			$	(12	)		$	150			$	0				12			$	7,596			$	(12	)


		Less than 12 months								12 months or more												Total
(in thousands)		Fair Value				Unrealized Losses				Fair Value				Unrealized Losses				Number of Investment Positions				Fair Value				Unrealized Losses
At December 31, 2011
Government sponsored enterprises		$	13,250			$	(18	)		$	0			$	0				13			$	13,250			$	(18	)
Asset-backed securities			4,591				(24	)			0				0				5				4,591				(24	)
Obligations of states and political subdivisions			229				(1	)			150				0				2				379				(1	)

		$	18,070			$	(43	)		$	150			$	0				20			$	18,220			$	(43	)