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SECURITIES (Tables) | 3 Months Ended
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Mar. 31, 2014
Investments Debt And Equity Securities [Abstract] |
Summary of Securities Held for Investment and Securities Available for Sale | The following table summarizes securities held for investment and securities available for sale:
|  | March 31, 2014 |
|  | (Dollars in thousands) |
Held for investment, at cost (fair value: $11,351) |  | $ | 11,269 |
Available for sale, at fair value |  |  | 575,749 |
Total |  | $ | 587,018 |
Summary of 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, 2014 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
|  | (Dollars in thousands) |
Mortgage backed securities (1) |  | $ | 575 |  |  | $ | 41 |  |  | $ | — |  |  | $ | 616 |
States and political subdivisions |  |  | 10,694 |  |  |  | 48 |  |  |  | (7 | ) |  |  | 10,735 |
Total |  | $ | 11,269 |  |  | $ | 89 |  |  | $ | (7 | ) |  | $ | 11,351 |
Summary of 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, 2014 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
|  | (Dollars in thousands) |
U.S. treasury and other federal agencies |  | $ | 474,579 |  |  | $ | 1,452 |  |  | $ | (498 | ) |  | $ | 475,533 |
Mortgage backed securities (1) |  |  | 29,228 |  |  |  | 637 |  |  |  | (1 | ) |  |  | 29,864 |
States and political subdivisions |  |  | 53,456 |  |  |  | 1,583 |  |  |  | (68 | ) |  |  | 54,971 |
Other securities (2) |  |  | 12,060 |  |  |  | 3,462 |  |  |  | (141 | ) |  |  | 15,381 |
Total |  | $ | 569,323 |  |  | $ | 7,134 |  |  | $ | (708 | ) |  | $ | 575,749 |
(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, 2014 |
|  | Amortized Cost |  |  | Estimated Fair Value |
|  | (Dollars in thousands) |
Held for Investment |  |  |  |  |  |  |  |
Contractual maturity of debt securities: |  |  |  |  |  |  |  |
Within one year |  | $ | 3,190 |  |  | $ | 3,193 |
After one year but within five years |  |  | 7,240 |  |  |  | 7,274 |
After five years but within ten years |  |  | 639 |  |  |  | 662 |
After ten years |  |  | 200 |  |  |  | 222 |
Total |  | $ | 11,269 |  |  | $ | 11,351 |
Available for Sale |  |  |  |  |  |  |  |
Contractual maturity of debt securities: |  |  |  |  |  |  |  |
Within one year |  | $ | 172,145 |  |  | $ | 172,418 |
After one year but within five years |  |  | 267,092 |  |  |  | 267,938 |
After five years but within ten years |  |  | 27,354 |  |  |  | 28,056 |
After ten years |  |  | 94,085 |  |  |  | 95,439 |
Total debt securities |  |  | 560,676 |  |  |  | 563,851 |
Equity securities |  |  | 8,647 |  |  |  | 11,898 |
Total |  | $ | 569,323 |  |  | $ | 575,749 |
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, 2014 |
|  | (Dollars in thousands) |
Book value of pledged securities |  | $ | 434,972 |

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