| Amortized Cost And Fair Value Of Available For Sale And Held To maturity Securities |
The
amortized cost and fair value of available-for-sale and
held-to-maturity securities at June 30, 2012 and December 31, 2011
are summarized as follows:
| |
|
|
|
|
Gross |
|
|
Gross |
|
|
|
|
| |
|
Amortized |
|
|
Unrealized |
|
|
Unrealized |
|
|
Market |
|
| |
|
Cost |
|
|
Gain |
|
|
Loss |
|
|
Value |
|
| |
|
(In Thousands) |
|
| June 30, 2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Securities
Available for Sale |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S.
Treasury and government sponsored agencies |
|
$ |
86,643 |
|
|
$ |
1,272 |
|
|
$ |
- |
|
|
$ |
87,915 |
|
| Mortgage-backed securities |
|
|
84,665 |
|
|
|
4,672 |
|
|
|
(7 |
) |
|
|
89,330 |
|
| State and
municipal securities |
|
|
107,733 |
|
|
|
5,766 |
|
|
|
(36 |
) |
|
|
113,463 |
|
|
Corporate debt |
|
|
5,756 |
|
|
|
44 |
|
|
|
- |
|
|
|
5,800 |
|
| Total |
|
|
284,797 |
|
|
|
11,754 |
|
|
|
(43 |
) |
|
|
296,508 |
|
| Securities Held to
Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortgage-backed securities |
|
|
15,476 |
|
|
|
651 |
|
|
|
(24 |
) |
|
|
16,103 |
|
| State
and municipal securities |
|
|
5,535 |
|
|
|
555 |
|
|
|
- |
|
|
|
6,090 |
|
| Total |
|
$ |
21,011 |
|
|
$ |
1,206 |
|
|
$ |
(24 |
) |
|
$ |
22,193 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Securities
Available for Sale |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. Treasury
and government sponsored agencies |
|
$ |
98,169 |
|
|
$ |
1,512 |
|
|
$ |
(59 |
) |
|
$ |
99,622 |
|
| Mortgage-backed securities |
|
|
88,118 |
|
|
|
4,462 |
|
|
|
- |
|
|
|
92,580 |
|
| State and
municipal securities |
|
|
95,331 |
|
|
|
5,230 |
|
|
|
(35 |
) |
|
|
100,526 |
|
|
Corporate debt |
|
|
1,029 |
|
|
|
52 |
|
|
|
- |
|
|
|
1,081 |
|
| Total |
|
|
282,647 |
|
|
|
11,256 |
|
|
|
(94 |
) |
|
|
293,809 |
|
| Securities Held to
Maturity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mortgage-backed securities |
|
|
9,676 |
|
|
|
410 |
|
|
|
- |
|
|
|
10,086 |
|
| State
and municipal securities |
|
|
5,533 |
|
|
|
380 |
|
|
|
- |
|
|
|
5,913 |
|
| Total |
|
$ |
15,209 |
|
|
$ |
790 |
|
|
$ |
- |
|
|
$ |
15,999 |
|
|
| Investment Securities Continuous Unrealized Loss Position |
The following table identifies, as of June 30, 2012 and December
31, 2011, the Company’s investment securities that have been
in a continuous unrealized loss position for less than 12 months
and those that have been in a continuous unrealized loss position
for 12 or more months. At June 30, 2012, none of the
Company’s 553 debt securities had been in an unrealized loss
position for 12 or more months. The Company does not intend to sell
these securities and it is more likely than not that the Company
will not be required to sell the securities before recovery of
their amortized cost, which may be maturity; accordingly, the
Company does not consider these securities to be
other-than-temporarily impaired at June 30, 2012. Further, the
Company believes any deterioration in value of its current
investment securities is attributable to changes in market interest
rates and not credit quality of the issuer.
| |
|
Less Than Twelve Months |
|
|
Twelve Months or More |
|
|
Total |
|
| |
|
Gross
|
|
|
|
|
|
Gross
|
|
|
|
|
|
Gross
|
|
|
|
|
| |
|
Unrealized
|
|
|
|
|
|
Unrealized
|
|
|
|
|
|
Unrealized
|
|
|
|
|
| |
|
Losses |
|
|
Fair Value |
|
|
Losses |
|
|
Fair Value |
|
|
Losses |
|
|
Fair Value |
|
| |
|
(In Thousands) |
|
| June 30, 2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and government sponsored
agencies
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
Mortgage-backed securities
|
|
|
(31 |
) |
|
|
5,902 |
|
|
|
- |
|
|
|
- |
|
|
|
(31 |
) |
|
|
5,902 |
|
|
State and municipal
securities
|
|
|
(36 |
) |
|
|
7,500 |
|
|
|
- |
|
|
|
- |
|
|
|
(36 |
) |
|
|
7,500 |
|
|
Corporate debt
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
Total
|
|
$
|
(67
|
) |
|
$
|
13,402
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
(67
|
) |
|
$
|
13,402
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| December 31, 2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and government sponsored
agencies
|
|
$ |
(59 |
) |
|
$ |
15,074 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
(59 |
) |
|
$ |
15,074 |
|
|
State and municipal
securities
|
|
|
(35 |
) |
|
|
4,559 |
|
|
|
- |
|
|
|
- |
|
|
|
(35 |
) |
|
|
4,559 |
|
|
Corporate debt
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
Total
|
|
$
|
(94
|
) |
|
$
|
19,633
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
(94
|
) |
|
$
|
19,633
|
|
|