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Investment Securities (Tables)

9 Months Ended

Sep. 30, 2012

Investment Securities [Abstract]

Investment securities available for sale

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

(Dollars in thousands)
	September 30, 2012
	Amortized Cost			Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Mortgage-backed securities	$	158,548		1,982		444		160,086
U.S. Government
sponsored enterprises		1,254		40		-		1,294
State and political subdivisions		109,456		6,739		46		116,149
Corporate bonds		1,535		16		-		1,551
Trust preferred securities		1,250		-		-		1,250
Equity securities		748		707		-		1,455
Total	$	272,791		9,484		490		281,785
(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 September 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)
	September 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	$	38,125		379		5,750		65		43,875		444
State and political subdivisions		4,406		46		-		-		4,406		46
Total	$	42,531		425		5,750		65		48,281		490
(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 September 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	$	3,611		3,653
Due from one to five years		12,117		12,581
Due from five to ten years		84,014		89,146
Due after ten years		13,753		14,864
Mortgage-backed securities		158,548		160,086
Equity securities		748		1,455
Total	$	272,791		281,785

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