(3)	SECURITIES

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

	June 30, 2015		December 31, 2014
	(Dollars in thousands)
Held for investment, at cost (fair value: $7,991 and $8,671, respectively)	$	7,923	$	8,593
Available for sale, at fair value		529,396		516,190
Total	$	537,319	$	524,783

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


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
June 30, 2015	(Dollars in thousands)
Mortgage backed securities (1)	$	406	$	26	$	—	$	432
States and political subdivisions		7,517		42		—		7,559
Total	$	7,923	$	68	$	—	$	7,991
December 31, 2014
Mortgage backed securities (1)	$	471	$	34	$	—	$	505
States and political subdivisions		8,122		44		—		8,166
Total	$	8,593	$	78	$	—	$	8,671

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


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
June 30, 2015	(Dollars in thousands)
U.S. treasuries	$	279,414	$	1,571	$	—		$	280,985
U.S. federal agencies		165,090		1,055		(28	)		166,117
Mortgage backed securities (1)		23,793		526		(549	)		23,770
States and political subdivisions		47,560		1,457		(40	)		48,977
Other securities (2)		9,540		204		(197	)		9,547
Total	$	525,397	$	4,813	$	(814	)	$	529,396
December 31, 2014
U.S. treasuries	$	248,767	$	404	$	(178	)	$	248,993
U.S. federal agencies		171,641		983		(175	)		172,449
Mortgage backed securities (1)		26,441		602		(586	)		26,457
States and political subdivisions		51,706		1,716		(49	)		53,373
Other securities (2)		10,798		4,252		(132	)		14,918
Total	$	509,353	$	7,957	$	(1,120	)	$	516,190

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

(2)	Primarily consists of equity securities.

The unrealized gains decreased in 2015 primarily due to the reclassification of an unrealized gain on one investment of $3.3 million from other comprehensive income to a realized gain by Council Oak Partners, LLC, a wholly-owned subsidiary of the Company. The realized gain is reported as securities transactions within the noninterest income section of the consolidated statement of comprehensive income.

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.

	June 30, 2015				December 31, 2014
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
	(Dollars in thousands)
Held for Investment
Contractual maturity of debt securities:
Within one year	$	1,308	$	1,317	$	1,451	$	1,456
After one year but within five years		6,244		6,277		6,603		6,642
After five years but within ten years		237		249		380		396
After ten years		134		148		159		177
Total	$	7,923	$	7,991	$	8,593	$	8,671
Available for Sale
Contractual maturity of debt securities:
Within one year	$	166,121	$	166,327	$	41,772	$	41,870
After one year but within five years		256,716		259,037		350,975		352,044
After five years but within ten years		15,810		16,491		21,990		22,717
After ten years		80,657		81,449		87,252		88,132
Total debt securities		519,304		523,304		501,989		504,763
Equity securities		6,093		6,092		7,364		11,427
Total	$	525,397	$	529,396	$	509,353	$	516,190

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:

	June 30, 2015		December 31, 2014
	(Dollars in thousands)
Book value of pledged securities	$	463,877	$	522,190