(3)

SECURITIES

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


	September 30, 2013
	(Dollars in thousands)
Held for investment, at cost (fair value: $12,328)	$	12,213
Available for sale, at fair value		462,427

Total	$	474,640

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


	September 30, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in thousands)
Mortgage backed securities (1)	$	649	$	52	$	—		$	701
States and political subdivisions		11,564		71		(8	)		11,627

Total	$	12,213	$	123	$	(8	)	$	12,328

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


	September 30, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in thousands)
U.S. treasury and other Federal agencies	$	359,076	$	2,043	$	(215	)	$	360,904
Mortgage backed securities (1)		33,336		620		—			33,956
States and political subdivisions		52,013		1,436		(63	)		53,386
Other securities (2)		12,051		2,270		(140	)		14,181

Total	$	456,476	$	6,369	$	(418	)	$	462,427

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

(2)	Primarily consists of equity securities.

The maturities of securities held for investment and available for sale are summarized in the following table using contractual maturities. Actual maturities may differ from contractual maturities due to obligations that are called or prepaid. For purposes of the maturity table, mortgage-backed securities, which are not due at a single maturity date, have been presented at their contractual maturity.


	September 30, 2013
	Amortized Cost		Estimated Fair Value
	(Dollars in thousands)
Held for Investment
Contractual maturity of debt securities:
Within one year	$	3,636	$	3,655
After one year but within five years		7,364		7,399
After five years but within ten years		945		976
After ten years		268		298

Total	$	12,213	$	12,328

Available for Sale
Contractual maturity of debt securities:
Within one year	$	197,037	$	197,424
After one year but within five years		119,341		120,593
After five years but within ten years		31,322		32,035
After ten years		100,124		101,615

Total debt securities		447,824		451,667
Equity securities		8,652		10,760

Total	$	456,476	$	462,427

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:


	September 30, 2013
	(Dollars in thousands)
Book value of pledged securities	$	393,329