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2. Investment Securities (Tables)

9 Months Ended

Sep. 30, 2014

Investment Securities Tables

Investment securities available for sale

Investment securities available for sale at September 30, 2014 and December 31, 2013 are as follows:

(Dollars in thousands)
	September 30, 2014
	Amortized Cost			Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Mortgage-backed securities	$	94,571		1,591		141		96,021
U.S. Government
sponsored enterprises		27,939		185		147		27,977
State and political subdivisions		146,108		5,612		711		151,009
Corporate bonds		2,482		14		22		2,474
Trust preferred securities		750		-		-		750
Equity securities		748		808		-		1,556
Total	$	272,598		8,210		1,021		279,787

(Dollars in thousands)
	December 31, 2013
	Amortized Cost			Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Mortgage-backed securities	$	123,706		1,040		769		123,977
U.S. Government
sponsored enterprises		22,115		97		69		22,143
State and political subdivisions		148,468		1,987		5,087		145,368
Corporate bonds		3,522		11		70		3,463
Trust preferred securities		1,250		-		-		1,250
Equity securities		748		941		-		1,689
Total	$	299,809		4,076		5,995		297,890

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, 2014 and December 31, 2013 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, 2014
	Less than 12 Months					12 Months or More				Total
	Fair Value			Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Mortgage-backed securities	$	11,266		14		8,126		127		19,392		141
U.S. Government
sponsored enterprises		8,113		74		3,926		73		12,039		147
State and political subdivisions		-		-		31,377		711		31,377		711
Corporate bonds		-		-		527		22		527		22
Total	$	19,379		88		43,956		933		63,335		1,021

(Dollars in thousands)
	December 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	$	40,857		691		10,128		78		50,985		769
U.S. Government
sponsored enterprises		9,714		69		-		-		9,714		69
State and political subdivisions		77,187		4,863		1,824		224		79,011		5,087
Corporate bonds		1,984		16		511		54		2,495		70
Total	$	129,742		5,639		12,463		356		142,205		5,995

Amortized cost and estimated fair value of investment securities available for sale by contractual maturity

The amortized cost and estimated fair value of investment securities available for sale at September 30, 2014, by contractual maturity, are shown below:

September 30, 2014
(Dollars in thousands)
	Amortized Cost			Estimated Fair Value
Due within one year	$	5,362		5,393
Due from one to five years		41,153		43,023
Due from five to ten years		113,866		116,443
Due after ten years		16,898		17,351
Mortgage-backed securities		94,571		96,021
Equity securities		748		1,556
Total	$	272,598		279,787

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.

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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.

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