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SECURITIES (Tables)
9 Months Ended
Sep. 30, 2013
Investments Debt And Equity 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:

 

     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   
  

 

 

 
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:

 

     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   
  

 

 

    

 

 

    

 

 

   

 

 

 
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:

 

     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.
Maturity of Securities

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

     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   
  

 

 

    

 

 

 
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:

 

     September 30, 2013  
     (Dollars in thousands)  

Book value of pledged securities

   $ 393,329