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Securities (Tables)
3 Months Ended
Mar. 31, 2013
Securities [Abstract]  
Summarizes securities held for investment and securities available for sale

The following table summarizes securities held for investment and securities available for sale:

 

         
    March 31, 2013  
    (Dollars in thousands)  

Held for investment, at cost (fair value: $16,317)

  $ 16,099  

Available for sale, at fair value

    549,391  
   

 

 

 

Total

  $ 565,490  
   

 

 

 
Summarizes amortized cost and estimated fair values of securities held for investment

The following table summarizes the amortized cost and estimated fair values of securities held for investment:

 

                                 
    March 31, 2013  
    Amortized
Cost
    Gross
Unrealized
Gains
    Gross
Unrealized
Losses
    Estimated
Fair
Value
 
    (Dollars in thousands)  

Mortgage backed securities (1)

  $ 740     $ 56     $ —       $ 796  

States and political subdivisions

    15,359       170       (8     15,521  
   

 

 

   

 

 

   

 

 

   

 

 

 

Total

  $ 16,099     $ 226     $ (8   $ 16,317  
   

 

 

   

 

 

   

 

 

   

 

 

 
Summarizes amortized cost and estimated fair values of securities available for sale

The following table summarizes the amortized cost and estimated fair values of securities available for sale:

 

                                 
    March 31, 2013  
    Amortized
Cost
    Gross
Unrealized
Gains
    Gross
Unrealized
Losses
    Estimated
Fair

Value
 
    (Dollars in thousands)  

U.S. treasury and other Federal agencies

  $ 459,301     $ 3,233     $ (155   $ 462,379  

Mortgage backed securities (1)

    17,212       764       (2     17,974  

States and political subdivisions

    52,858       2,646       (11     55,493  

Other securities (2)

    10,965       2,580       —         13,545  
   

 

 

   

 

 

   

 

 

   

 

 

 

Total

  $ 540,336     $ 9,223     $ (168   $ 549,391  
   

 

 

   

 

 

   

 

 

   

 

 

 

 

(1) Primarily consists of FHLMC, FNMA, GNMA and mortgage backed securities through U.S. agencies.
(2) Primarily consists of equity securities.
Maturity of securities

The maturities of securities held for investment and available for sale are summarized in the following table using contractual maturities.

                 
    March 31, 2013  
    Amortized
Cost
    Estimated
Fair
Value
 
    (Dollars in thousands)  

Held for Investment

               

Contractual maturity of debt securities:

               

Within one year

  $ 4,590     $ 4,627  

After one year but within five years

    9,898       9,999  

After five years but within ten years

    1,179       1,212  

After ten years

    432       479  
   

 

 

   

 

 

 

Total

  $ 16,099     $ 16,317  
   

 

 

   

 

 

 

Available for Sale

               

Contractual maturity of debt securities:

               

Within one year

  $ 191,802     $ 192,015  

After one year but within five years

    219,323       221,790  

After five years but within ten years

    34,426       35,851  

After ten years

    87,206       89,611  
   

 

 

   

 

 

 

Total debt securities

    532,757       539,267  

Equity securities

    7,579       10,124  
   

 

 

   

 

 

 

Total

  $ 540,336     $ 549,391  
   

 

 

   

 

 

 
Company's book value of pledged securities

The following table is a summary of the Company’s book value of securities that were pledged as collateral for public funds on deposit, repurchase agreements and for other purposes as required or permitted by law:

 

         
    March 31, 2013  
    (Dollars in thousands)  

Book value of pledged securities

  $ 487,367