v2.4.0.6
Securities (Tables)
6 Months Ended
Jun. 30, 2012
Fair Value of Available for Sale Securities and Related Gains and Losses Recognized in Accumulated Other Comprehensive Income or loss

The fair value of available-for-sale securities and the related gains and losses recognized in accumulated other comprehensive income (loss) was as follows (in thousands):

 

          Gross     Gross        
  Amortized     Unrealized     Unrealized     Fair  
Available-for-Sale    Cost     Gains     Losses     Value  
June 30, 2012                                
U.S. government, federal agencies and government sponsored enterprises   $ 135,012     $ 1,163     $ (20 )   $ 136,155  
U.S. government residential mortgage-backed     179,589       4,625       (107 )     184,107  
Corporate     1,060       0       0       1,060  
    $ 315,661     $ 5,788     $ (127 )   $ 321,322  

 

          Gross     Gross        
    Amortized     Unrealized     Unrealized     Fair  
    Cost     Gains     Losses     Value  
December 31, 2011                                
U.S. government, federal agencies and government sponsored enterprises   $ 168,104     $ 1,368     $ (12 )   $ 169,460  
U.S. government residential mortgage-backed     148,329       3,727       (64 )     151,992  
Corporate     1,060       0       0       1,060  
    $ 317,493     $ 5,095     $ (76 )   $ 322,512  
Amortized Cost, Unrecognized Gains and Losses, and Fair Value of Securities Held to Maturity

The carrying amount, unrecognized gains and losses, and fair value of securities held-to-maturity were as follows (in thousands):

 

          Gross     Gross        
  Amortized     Unrecognized     Unrecognized     Fair  
Held-to-Maturity    Cost     Gains     Losses     Value  
2012                                
Municipal and other obligations   $ 54,882     $ 1,921     $ (57 )   $ 56,746  
                                 
2011                                
Municipal and other obligations   $ 48,975     $ 1,693     $ (25 )   $ 50,643  
Amortized Cost and Fair Value of Debt Securities by Contractual Maturity

The amortized cost and fair value of debt securities and carrying amount, if different, at June 30, 2012 by contractual maturity were as follows (in thousands), with securities not due at a single maturity date, primarily mortgage-backed securities, shown separately.

 

    Available-for-Sale     Held-to-Maturity  
    Amortized     Fair     Amortized     Fair  
    Cost     Value     Cost     Value  
Due in one year or less   $ 1,881     $ 1,894     $ 3,419     $ 3,440  
Due after one year through five years     65,648       66,294       27,251       28,215  
Due after five years through ten years     67,483       67,967       18,287       19,167  
Due after ten years     1,060       1,060       5,925       5,925  
U.S. Government agency mortgage-backed     179,589       184,107       0       0  
                                 
    $ 315,661     $ 321,322     $ 54,882     $ 56,747  
Securities with Unrealized Losses Aggregated by Investment Category and Length of Time Individual Securities Have Been in Continuous Unrealized Loss Position

Securities with unrealized losses at June 30, 2012 and December 31, 2011, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows (in thousands):

 

    Less than 12 Months     12 Months or More     Total  
    Fair     Unrealized     Fair     Unrealized     Fair     Unrealized  
Description of Securities   Value     Loss     Value     Loss     Value     Loss  
June 30, 2012                                                
U.S. government, federal agencies and government sponsored enterprises   $ 14,193     $ (20 )   $ 0     $ 0     $ 14,193     $ (20 )
U.S. government residential mortgage-backed     23,532       (107 )     0       0       23,532       (107 )
Municipal & other obligations     3,559       (57 )     0       0       3,559       (57 )
                                                 
Total temporarily impaired   $ 41,284     $ (184 )   $ 0     $ 0     $ 41,284     $ (184 )
                                                 
December 31, 2011                                                
U.S. government, federal agencies and government sponsored enterprises   $ 18,734     $ (12 )   $ 0     $ 0     $ 18,734     $ (12 )
U.S government residential mortgage-backed     36,707       (64 )     0       0       36,707       (64 )
Municipal & other obligations     3,225       (24 )     388       (1 )     3,613       (25 )
Total temporarily impaired   $ 58,666     $ (100 )   $ 388     $ (1 )   $ 59,054     $ (101 )