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Investment Securities (Tables)

6 Months Ended

Jun. 30, 2012

Investment Securities [Abstract]

Investment securities available for sale

Investment securities available for sale at June 30, 2012 and December 31, 2011 are as follows:

(Dollars in thousands)
	June 30, 2012
	Amortized Cost			Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Mortgage-backed securities	$	164,423		1,981		383		166,021
U.S. Government
sponsored enterprises		2,853		77		-		2,930
State and political subdivisions		102,342		5,368		35		107,675
Corporate bonds		1,539		6		-		1,545
Trust preferred securities		1,250		-		-		1,250
Equity securities		748		566		-		1,314
Total	$	273,155		7,998		418		280,735
(Dollars in thousands)
	December 31, 2011
	Amortized Cost			Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Mortgage-backed securities	$	213,378		1,371		1,056		213,693
U.S. Government
sponsored enterprises		7,429		265		-		7,694
State and political subdivisions		92,996		4,157		56		97,097
Corporate bonds		546		-		3		543
Trust preferred securities		1,250		-		-		1,250
Equity securities		748		363		-		1,111
Total	$	316,347		6,156		1,115		321,388

Current fair value and associated unrealized losses on investments in securities with unrealized losses

The current fair value and associated unrealized losses on investments in securities with unrealized losses at June 30, 2012 and December 31, 2011 are summarized in the tables below, with the length of time the individual securities have been in a continuous loss position.

(Dollars in thousands)
	June 30, 2012
	Less than 12 Months					12 Months or More				Total
	Fair Value			Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Mortgage-backed securities	$	50,288		331		2,979		52		53,267		383
State and political subdivisions		4,149		35		-		-		4,149		35
Total	$	54,437		366		2,979		52		57,416		418

(Dollars in thousands)
	December 31, 2011
	Less than 12 Months					12 Months or More				Total
	Fair Value			Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Mortgage-backed securities	$	95,122		991		4,125		65		99,247		1,056
State and political subdivisions		4,444		56		-		-		4,444		56
Corporate bonds		542		3		-		-		542		3
Total	$	100,108		1,050		4,125		65		104,233		1,115

Amortized cost and fair value of investment securities by contractual maturity

The amortized cost and estimated fair value of investment securities available for sale at June 30, 2012, by contractual maturity, are shown below. Expected maturities of mortgage-backed securities will differ from contractual maturities because borrowers have the right to call or prepay obligations with or without call or prepayment penalties.

(Dollars in thousands)
	Amortized Cost			Estimated Fair Value
Due within one year	$	2,604		2,648
Due from one to five years		13,130		13,489
Due from five to ten years		80,180		84,321
Due after ten years		12,070		12,942
Mortgage-backed securities		164,423		166,021
Equity securities		748		1,314
Total	$	273,155		280,735

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