Investment SecuritiesInvestment securities decreased $131.5 million, or 21.0%, year-over-year to $493.4 million at December 31, 2012, and were down $51.7 million sequentially from September 30, 2012. During the fourth quarter of 2012, the Company sold $24.9 million of investment securities resulting in a $1.5 million realized gain on sale of securities. The investment portfolio contains two pooled trust preferred securities with a book value of $5.1 million, and a market value of $357 thousand at December 31, 2012, for which the Company performs a quarterly analysis to determine whether any other than temporary impairment exists. The analysis includes stress tests on the underlying collateral and cash flow estimates based on the current and projected future levels of deferrals, defaults, and prepayments within each pool. There has been no recorded impairment loss for the year ended December 31, 2012, compared to an impairment loss of $732 thousand for the same time period in 2011.
Virginia Commerce Bancorp, Inc. Reports Strong Fourth Quarter Performance With Full Repurchase Of All TARP Preferred Stock
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