| Amortized Cost and Fair Values of Securities Available for Sale |
The amortized
cost and fair values of securities available for sale, with gross
unrealized gains and losses, follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
| |
|
(In
thousands) |
|
|
December 31,
2013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate bonds:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial
services
|
|
$ |
58,166 |
|
|
$ |
1,148 |
|
|
$ |
(66 |
) |
|
$ |
59,248 |
|
|
Industry and
manufacturing
|
|
|
13,893 |
|
|
|
264 |
|
|
|
(16 |
) |
|
|
14,141 |
|
|
Consumer products and
services
|
|
|
7,234 |
|
|
|
32 |
|
|
|
— |
|
|
|
7,266 |
|
|
Technology
|
|
|
2,503 |
|
|
|
18 |
|
|
|
— |
|
|
|
2,521 |
|
|
Healthcare
|
|
|
9,009 |
|
|
|
149 |
|
|
|
— |
|
|
|
9,158 |
|
|
Other
|
|
|
1,011 |
|
|
|
43 |
|
|
|
— |
|
|
|
1,054 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total corporate
bonds
|
|
|
91,816 |
|
|
|
1,654 |
|
|
|
(82 |
) |
|
|
93,388 |
|
|
Government-sponsored
enterprises
|
|
|
34,562 |
|
|
|
3 |
|
|
|
(1,417 |
) |
|
|
33,148 |
|
|
Municipal bonds
|
|
|
5,721 |
|
|
|
137 |
|
|
|
— |
|
|
|
5,858 |
|
|
Residential mortgage-backed
securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Government-sponsored
enterprises
|
|
|
11,138 |
|
|
|
592 |
|
|
|
— |
|
|
|
11,730 |
|
|
Private label
|
|
|
1,578 |
|
|
|
86 |
|
|
|
— |
|
|
|
1,664 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total debt
securities
|
|
|
144,815 |
|
|
|
2,472 |
|
|
|
(1,499 |
) |
|
|
145,788 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Marketable equity
securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stocks:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial
services
|
|
|
6,909 |
|
|
|
614 |
|
|
|
— |
|
|
|
7,523 |
|
|
Industry and
manufacturing
|
|
|
18,092 |
|
|
|
2,413 |
|
|
|
(58 |
) |
|
|
20,447 |
|
|
Consumer products and
services
|
|
|
9,909 |
|
|
|
1,530 |
|
|
|
(3 |
) |
|
|
11,436 |
|
|
Technology
|
|
|
3,442 |
|
|
|
132 |
|
|
|
(66 |
) |
|
|
3,508 |
|
|
Healthcare
|
|
|
5,048 |
|
|
|
1,115 |
|
|
|
— |
|
|
|
6,163 |
|
|
Other
|
|
|
3,441 |
|
|
|
807 |
|
|
|
— |
|
|
|
4,248 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total common
stocks
|
|
|
46,841 |
|
|
|
6,611 |
|
|
|
(127 |
) |
|
|
53,325 |
|
|
Money market mutual
funds
|
|
|
2,065 |
|
|
|
— |
|
|
|
(41 |
) |
|
|
2,024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total marketable equity
securities
|
|
|
48,906 |
|
|
|
6,611 |
|
|
|
(168 |
) |
|
|
55,349 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total securities available
for sale
|
|
$ |
193,721 |
|
|
$ |
9,083 |
|
|
$ |
(1,667 |
) |
|
$ |
201,137 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Amortized
Cost |
|
|
Gross
Unrealized
Gains |
|
|
Gross
Unrealized
Losses |
|
|
Fair
Value |
|
| |
|
(In
thousands) |
|
|
December 31,
2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate bonds:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial
services
|
|
$ |
76,044 |
|
|
$ |
2,480 |
|
|
$ |
(71 |
) |
|
$ |
78,453 |
|
|
Industry and
manufacturing
|
|
|
14,846 |
|
|
|
449 |
|
|
|
— |
|
|
|
15,295 |
|
|
Consumer products and
services
|
|
|
12,259 |
|
|
|
355 |
|
|
|
— |
|
|
|
12,614 |
|
|
Technology
|
|
|
2,506 |
|
|
|
— |
|
|
|
(29 |
) |
|
|
2,477 |
|
|
Healthcare
|
|
|
11,041 |
|
|
|
461 |
|
|
|
— |
|
|
|
11,502 |
|
|
Other
|
|
|
1,018 |
|
|
|
61 |
|
|
|
— |
|
|
|
1,079 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total corporate
bonds
|
|
|
117,714 |
|
|
|
3,806 |
|
|
|
(100 |
) |
|
|
121,420 |
|
|
Government-sponsored
enterprises
|
|
|
53,084 |
|
|
|
94 |
|
|
|
(29 |
) |
|
|
53,149 |
|
|
Municipal bonds
|
|
|
7,236 |
|
|
|
225 |
|
|
|
— |
|
|
|
7,461 |
|
|
Residential mortgage-backed
securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Government-sponsored
enterprises
|
|
|
16,280 |
|
|
|
1,019 |
|
|
|
(1 |
) |
|
|
17,298 |
|
|
Private label
|
|
|
3,169 |
|
|
|
140 |
|
|
|
— |
|
|
|
3,309 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total debt
securities
|
|
|
197,483 |
|
|
|
5,284 |
|
|
|
(130 |
) |
|
|
202,637 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Marketable equity
securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stocks:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial
services
|
|
|
11,354 |
|
|
|
622 |
|
|
|
(67 |
) |
|
|
11,909 |
|
|
Industry and
manufacturing
|
|
|
10,922 |
|
|
|
1,329 |
|
|
|
(157 |
) |
|
|
12,094 |
|
|
Consumer products and
services
|
|
|
11,849 |
|
|
|
1,284 |
|
|
|
(59 |
) |
|
|
13,074 |
|
|
Technology
|
|
|
1,847 |
|
|
|
11 |
|
|
|
(8 |
) |
|
|
1,850 |
|
|
Healthcare
|
|
|
3,757 |
|
|
|
560 |
|
|
|
(9 |
) |
|
|
4,308 |
|
|
Other
|
|
|
2,677 |
|
|
|
422 |
|
|
|
— |
|
|
|
3,099 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total common
stocks
|
|
|
42,406 |
|
|
|
4,228 |
|
|
|
(300 |
) |
|
|
46,334 |
|
|
Money market mutual
funds
|
|
|
13,833 |
|
|
|
— |
|
|
|
(19 |
) |
|
|
13,814 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total marketable equity
securities
|
|
|
56,239 |
|
|
|
4,228 |
|
|
|
(319 |
) |
|
|
60,148 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total securities available
for sale
|
|
$ |
253,722 |
|
|
$ |
9,512 |
|
|
$ |
(449 |
) |
|
$ |
262,785 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Amortized cost and Fair Value of Debt Securities by Contractual Maturity |
The amortized
cost and fair value of debt securities by contractual maturity at
December 31, 2013 are as follows. Expected maturities may
differ from contractual maturities because issuers may have the
right to call or prepay obligations with or without prepayment
penalties.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
After One Year |
|
|
|
|
|
|
|
| |
|
One Year or Less |
|
|
Through Five
Years |
|
|
After Five Years |
|
|
Total |
|
| |
|
Amortized |
|
|
Fair |
|
|
Amortized |
|
|
Fair |
|
|
Amortized |
|
|
Fair |
|
|
Amortized |
|
|
Fair |
|
| |
|
Cost |
|
|
Value |
|
|
Cost |
|
|
Value |
|
|
Cost |
|
|
Value |
|
|
Cost |
|
|
Value |
|
| |
|
(In
thousands) |
|
|
Corporate bonds:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial
services
|
|
$ |
18,396 |
|
|
$ |
18,590 |
|
|
$ |
39,770 |
|
|
$ |
40,658 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
58,166 |
|
|
$ |
59,248 |
|
|
Industry and
manufacturing
|
|
|
7,992 |
|
|
|
8,101 |
|
|
|
5,901 |
|
|
|
6,040 |
|
|
|
— |
|
|
|
— |
|
|
|
13,893 |
|
|
|
14,141 |
|
|
Consumer products and
services
|
|
|
7,234 |
|
|
|
7,266 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
7,234 |
|
|
|
7,266 |
|
|
Technology
|
|
|
2,503 |
|
|
|
2,521 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
2,503 |
|
|
|
2,521 |
|
|
Healthcare
|
|
|
5,003 |
|
|
|
5,030 |
|
|
|
4,006 |
|
|
|
4,128 |
|
|
|
— |
|
|
|
— |
|
|
|
9,009 |
|
|
|
9,158 |
|
|
Other
|
|
|
— |
|
|
|
— |
|
|
|
1,011 |
|
|
|
1,054 |
|
|
|
— |
|
|
|
— |
|
|
|
1,011 |
|
|
|
1,054 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total corporate
bonds
|
|
|
41,128 |
|
|
|
41,508 |
|
|
|
50,688 |
|
|
|
51,880 |
|
|
|
— |
|
|
|
— |
|
|
|
91,816 |
|
|
|
93,388 |
|
|
Government-sponsored
enterprises
|
|
|
— |
|
|
|
— |
|
|
|
62 |
|
|
|
65 |
|
|
|
34,500 |
|
|
|
33,083 |
|
|
|
34,562 |
|
|
|
33,148 |
|
|
Municipal bonds
|
|
|
250 |
|
|
|
251 |
|
|
|
5,471 |
|
|
|
5,607 |
|
|
|
— |
|
|
|
— |
|
|
|
5,721 |
|
|
|
5,858 |
|
|
Residential mortgage-backed
securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Government-sponsored
enterprises
|
|
|
— |
|
|
|
— |
|
|
|
2 |
|
|
|
2 |
|
|
|
11,136 |
|
|
|
11,728 |
|
|
|
11,138 |
|
|
|
11,730 |
|
|
Private label
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1,578 |
|
|
|
1,664 |
|
|
|
1,578 |
|
|
|
1,664 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
41,378 |
|
|
$ |
41,759 |
|
|
$ |
56,223 |
|
|
$ |
57,554 |
|
|
$ |
47,214 |
|
|
$ |
46,475 |
|
|
$ |
144,815 |
|
|
$ |
145,788 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pertaining to Securities Available for Sale |
Information
pertaining to securities available for sale as of December 31,
2013 and 2012, with gross unrealized losses aggregated by
investment category and length of time that individual securities
have been in a continuous loss position, follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Less Than Twelve Months |
|
|
Twelve Months or Longer |
|
| |
|
Gross |
|
|
|
|
|
Gross |
|
|
|
|
| |
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
| |
|
Losses |
|
|
Value |
|
|
Losses |
|
|
Value |
|
| |
|
(In
thousands) |
|
|
December 31,
2013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate bonds:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial
services
|
|
$ |
19 |
|
|
$ |
6,981 |
|
|
$ |
47 |
|
|
$ |
1,453 |
|
|
Industry and
manufacturing
|
|
|
16 |
|
|
|
984 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total corporate
bonds
|
|
|
35 |
|
|
|
7,965 |
|
|
|
47 |
|
|
|
1,453 |
|
|
Government-sponsored
enterprises
|
|
|
1,296 |
|
|
|
31,205 |
|
|
|
121 |
|
|
|
1,879 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total debt
securities
|
|
|
1,331 |
|
|
|
39,170 |
|
|
|
168 |
|
|
|
3,332 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Marketable equity
securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stocks:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industry and
manufacturing
|
|
|
58 |
|
|
|
3,089 |
|
|
|
— |
|
|
|
— |
|
|
Consumer products and
services
|
|
|
3 |
|
|
|
606 |
|
|
|
— |
|
|
|
— |
|
|
Technology
|
|
|
66 |
|
|
|
1,872 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total common
stocks
|
|
|
127 |
|
|
|
5,567 |
|
|
|
— |
|
|
|
— |
|
|
Money market mutual
funds
|
|
|
— |
|
|
|
— |
|
|
|
41 |
|
|
|
998 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total marketable equity
securities
|
|
|
127 |
|
|
|
5,567 |
|
|
|
41 |
|
|
|
998 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total temporarily impaired
securities
|
|
$ |
1,458 |
|
|
$ |
44,737 |
|
|
$ |
209 |
|
|
$ |
4,330 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Less Than Twelve Months |
|
|
Twelve Months or Longer |
|
| |
|
Gross |
|
|
|
|
|
Gross |
|
|
|
|
| |
|
Unrealized |
|
|
Fair |
|
|
Unrealized |
|
|
Fair |
|
| |
|
Losses |
|
|
Value |
|
|
Losses |
|
|
Value |
|
| |
|
(In
thousands) |
|
|
December 31,
2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate bonds:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial
services
|
|
$ |
14 |
|
|
$ |
2,986 |
|
|
$ |
57 |
|
|
$ |
4,442 |
|
|
Technology
|
|
|
29 |
|
|
|
2,477 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total corporate
bonds
|
|
|
43 |
|
|
|
5,463 |
|
|
|
57 |
|
|
|
4,442 |
|
|
Government-sponsored
enterprises
|
|
|
29 |
|
|
|
8,962 |
|
|
|
— |
|
|
|
— |
|
|
Residential mortgage-backed
securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Government-sponsored
enterprises
|
|
|
1 |
|
|
|
8 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total debt
securities
|
|
|
73 |
|
|
|
14,433 |
|
|
|
57 |
|
|
|
4,442 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Marketable equity
securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stocks:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial
services
|
|
|
46 |
|
|
|
7,193 |
|
|
|
21 |
|
|
|
217 |
|
|
Industry and
manufacturing
|
|
|
157 |
|
|
|
2,654 |
|
|
|
— |
|
|
|
— |
|
|
Consumer products and
services
|
|
|
59 |
|
|
|
1,077 |
|
|
|
— |
|
|
|
— |
|
|
Technology
|
|
|
8 |
|
|
|
936 |
|
|
|
— |
|
|
|
— |
|
|
Healthcare
|
|
|
9 |
|
|
|
612 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total common
stocks
|
|
|
279 |
|
|
|
12,472 |
|
|
|
21 |
|
|
|
217 |
|
|
Money market mutual
funds
|
|
|
— |
|
|
|
— |
|
|
|
19 |
|
|
|
1,004 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total marketable equity
securities
|
|
|
279 |
|
|
|
12,472 |
|
|
|
40 |
|
|
|
1,221 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total temporarily impaired
securities
|
|
$ |
352 |
|
|
$ |
26,905 |
|
|
$ |
97 |
|
|
$ |
5,663 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|