XML 21 R8.htm IDEA: XBRL DOCUMENT
v2.4.0.6

2. Investment Securities | 3 Months Ended
--- | ---
Mar. 31, 2013
Investments, Debt and Equity Securities [Abstract] |
Investment Securities | Investment securities available for sale at March 31, 2013 and December 31, 2012 are as follows:
(Dollars in thousands) |  |  |  |
| March 31, 2013
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Mortgage-backed securities | $ | 134,210 |  | 1,881 |  | 347 |  | 135,744
U.S. Government |  |  |  |  |  |  |  |
sponsored enterprises |  | 19,395 |  | 150 |  | 89 |  | 19,456
State and political subdivisions |  | 127,046 |  | 5,749 |  | 450 |  | 132,345
Corporate bonds |  | 3,559 |  | 23 |  | 57 |  | 3,525
Trust preferred securities |  | 1,250 |  | - |  | - |  | 1,250
Equity securities |  | 748 |  | 857 |  | - |  | 1,605
Total | $ | 286,208 |  | 8,660 |  | 943 |  | 293,925
(Dollars in thousands) |  |  |  |
| December 31, 2012
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Mortgage-backed securities | $ | 146,755 |  | 1,875 |  | 606 |  | 148,024
U.S. Government |  |  |  |  |  |  |  |
sponsored enterprises |  | 18,714 |  | 203 |  | 80 |  | 18,837
State and political subdivisions |  | 118,591 |  | 7,171 |  | 104 |  | 125,658
Corporate bonds |  | 2,571 |  | 19 |  | 4 |  | 2,586
Trust preferred securities |  | 1,250 |  | - |  | - |  | 1,250
Equity securities |  | 748 |  | 720 |  | - |  | 1,468
Total | $ | 288,629 |  | 9,988 |  | 794 |  | 297,823
The current fair value and associated unrealized losses on investments in securities with unrealized losses at March 31, 2013 and December 31, 2012 are summarized in the tables below, with the length of time the individual securities have been in a continuous loss position.
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |
| March 31, 2013
| Less than 12 Months |  | 12 Months or More |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Mortgage-backed securities | $ | 35,129 |  | 237 |  | 7,171 |  | 110 |  | 42,300 |  | 347
U.S. Government |  |  |  |  |  |  |  |  |  |  |  |
sponsored enterprises |  | 6,796 |  | 89 |  | - |  | - |  | 6,796 |  | 89
State and political subdivisions |  | 25,406 |  | 450 |  | - |  | - |  | 25,406 |  | 450
Corporate bonds |  | 1,522 |  | 57 |  | - |  | - |  | 1,522 |  | 57
Total | $ | 68,853 |  | 833 |  | 7,171 |  | 110 |  | 76,024 |  | 943
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |
| December 31, 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 | $ | 48,126 |  | 468 |  | 12,913 |  | 138 |  | 61,039 |  | 606
U.S. Government |  |  |  |  |  |  |  |  |  |  |  |
sponsored enterprises |  | 3,402 |  | 80 |  | - |  | - |  | 3,402 |  | 80
State and political subdivisions |  | 9,490 |  | 104 |  | - |  | - |  | 9,490 |  | 104
Corporate bonds |  | 1,035 |  | 4 |  | - |  | - |  | 1,035 |  | 4
Total | $ | 62,053 |  | 656 |  | 12,913 |  | 138 |  | 74,966 |  | 794
At March 31, 2013, unrealized losses in the investment securities portfolio relating to debt securities totaled $943,000. The unrealized losses on these debt securities arose due to changing interest rates and are considered to be temporary. From the March 31, 2013 tables above, 24 out of 160 securities issued by state and political subdivisions contained unrealized losses, 23 out of 92 securities issued by U.S. Government sponsored enterprises, including mortgage-backed securities contained unrealized losses, and two out of five securities issued by corporations, contained unrealized losses. These unrealized losses are considered temporary because of acceptable investment grades on each security and the repayment sources of principal and interest on U.S. Government sponsored enterprises, including mortgage-backed securities, are government backed. The amortized cost and estimated fair value of investment securities available for sale at March 31, 2013, 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 | $ | 4,469 |  | 4,538
Due from one to five years |  | 22,073 |  | 22,834
Due from five to ten years |  | 99,051 |  | 102,764
Due after ten years |  | 25,657 |  | 26,440
Mortgage-backed securities |  | 134,210 |  | 135,744
Equity securities |  | 748 |  | 1,605
Total | $ | 286,208 |  | 293,925
Proceeds from sales of securities available for sale during the three months ended March 31, 2013 were $5.8 million and resulted in gross gains of $263,000. Proceeds from sales of securities available for sale during the three months ended March 31, 2012 were $20.4 million and resulted in gross gains of $527,000. Securities with a fair value of approximately $74.0 million and $73.9 million at March 31, 2013 and December 31, 2012, respectively, were pledged to secure public deposits and for other purposes as required by law.

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 marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27232-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.2,12) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6871852&loc=d3e26626-111562 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27161-111563 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6871852&loc=d3e26610-111562 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.4) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
Name: | us-gaap_MarketableSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration