Quarterly report pursuant to Section 13 or 15(d)

Securities (Tables)

v2.4.0.8
Securities (Tables)
6 Months Ended
Jun. 30, 2013
Investments, Debt and Equity Securities [Abstract]  
Available-for-sale Securities [Table Text Block]
The fair value of available-for-sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows: 
 
 
 
 
 
Gross
 
Gross
 
Estimated
 
(Dollars in thousands)
 
Cost
 
Unrealized
 
Unrealized
 
Fair
 
 
 
Basis
 
Gains
 
Losses
 
Value
 
June 30, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government sponsored entities
 
$
20,498
 
$
5
 
$
(588)
 
$
19,915
 
Collateralized mortgage obligations and
     residential mortgage-backed securities
 
 
96,403
 
 
1,568
 
 
(1,015)
 
 
96,956
 
Municipal securities
 
 
65,656
 
 
2,019
 
 
(1,471)
 
 
66,204
 
Collateralized debt obligations
 
 
5,208
 
 
-
 
 
(3,492)
 
 
1,716
 
Total securities available-for-sale
 
$
187,765
 
$
3,592
 
$
(6,566)
 
$
184,791
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government sponsored entities
 
$
23,009
 
$
94
 
$
(7)
 
$
23,096
 
Collateralized mortgage obligations and
     residential mortgage-backed securities
 
 
96,782
 
 
3,147
 
 
(15)
 
 
99,914
 
Municipal securities
 
 
58,946
 
 
4,155
 
 
(28)
 
 
63,073
 
Collateralized debt obligations
 
 
5,208
 
 
-
 
 
(3,816)
 
 
1,392
 
Total securities available-for-sale
 
$
183,945
 
$
7,396
 
$
(3,866)
 
$
187,475
 
Schedule of Contractual Maturities of Available-for-sale Debt Securities [Table Text Block]
The fair value of available-for-sale debt securities and carrying amount, if different, at June 30, 2013  by contractual maturity, were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately.
 
 
 
Available-for-sale
 
(Dollars in thousands)
 
Estimated
 
 
 
 
 
Fair
 
Tax-Equivalent
 
June 30, 2013
 
Value
 
Yield (%)
 
Due in one year or less
 
$
315
 
 
6.89
 
Due from one to five years
 
 
13,378
 
 
2.98
 
Due from five to ten years
 
 
36,447
 
 
4.32
 
Due over ten years
 
 
37,695
 
 
4.48
 
Collateralized mortgage obligations and residential
   mortgage-backed securities
 
 
96,956
 
 
2.74
 
Total
 
$
184,791
 
 
3.43
 
Schedule of Realized Gain (Loss) [Table Text Block]
Sales of available-for-sale securities were as follows for the six months ended:
 
 
 
June 30,
 
June 30,
 
(Dollars in thousands)
 
2013
 
2012
 
 
 
 
 
 
 
 
 
Proceeds
 
$
12,475
 
$
13,283
 
Gross gains
 
 
444
 
 
617
 
Gross losses
 
 
-
 
 
-
 
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
Accumulated other comprehensive income/(loss) balances, net of tax, related to available-for-sale securities, were as follows:
 
(Dollars in thousands)
 
Unrealized
gain/(loss)
 
Beginning balance, December 31, 2012
 
$
2,284
 
Current period change
 
 
(4,276)
 
Ending balance, June 30, 2013
 
$
(1,992)
 
Unrealized Gain (Loss) on Investments [Table Text Block]
Securities with unrealized losses at June 30, 2013 and December 31, 2012 not recognized in income are as follows:
 
 
 
Less than 12 months
 
12 months or longer
 
Total
 
 
 
Estimated
 
 
 
Estimated
 
 
 
Estimated
 
 
 
(Dollars in thousands)
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
 
 
Value
 
Losses
 
Value
 
Losses
 
Value
 
Losses
 
June 30, 2013
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government sponsored entities
 
$
18,410
 
$
(588)
 
$
-
 
$
-
 
$
18,410
 
$
(588)
 
Collateralized mortgage obligations and residential mortgage-backed
securities
 
 
43,566
 
 
(1,015)
 
 
-
 
 
-
 
 
43,566
 
 
(1,015)
 
Municipal securities
 
 
24,159
 
 
(1,471)
 
 
-
 
 
-
 
 
24,159
 
 
(1,471)
 
Collateralized debt obligations
 
 
-
 
 
-
 
 
1,716
 
 
(3,492)
 
 
1,716
 
 
(3,492)
 
Total temporarily impaired
 
$
86,135
 
$
(3,074)
 
$
1,716
 
$
(3,492)
 
$
87,851
 
$
(6,566)
 
Number of securities
 
 
 
 
 
103
 
 
 
 
 
4
 
 
 
 
 
107
 
 
 
 
Less than 12 months
 
12 months or longer
 
Total
 
 
 
Estimated
 
 
 
Estimated
 
 
 
Estimated
 
 
 
(Dollars in thousands)
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
 
 
Value
 
Losses
 
Value
 
Losses
 
Value
 
Losses
 
December 31, 2012
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government sponsored entities
 
$
3,492
 
$
(7)
 
$
-
 
$
-
 
$
3,492
 
$
(7)
 
Collateralized mortgage obligations and residential mortgage-backed
   securities
 
 
2,294
 
 
(15)
 
 
-
 
 
-
 
 
2,294
 
 
(15)
 
Municipal securities
 
 
3,330
 
 
(28)
 
 
-
 
 
-
 
 
3,330
 
 
(28)
 
Collateralized debt obligations
 
 
-
 
 
-
 
 
1,392
 
 
(3,816)
 
 
1,392
 
 
(3,816)
 
Total temporarily impaired
 
$
9,116
 
$
(50)
 
$
1,392
 
$
(3,816)
 
$
10,508
 
$
(3,866)
 
Number of securities
 
 
 
 
 
14
 
 
 
 
 
4
 
 
 
 
 
18