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INVESTMENT SECURITIES (Tables) | 9 Months Ended
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Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract] |
Summary of available for sale and held to maturity investment securities | A summary of available for sale and held to maturity investment securities are as follows:
(dollars in thousands) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
September 30, 2015 |  |  |  |  |  |  |  |  |  |  |
Held to Maturity: |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |
Residential - U.S. Government sponsored entities | $ | 158,622 |  |  | $ | 195 |  |  | $ | (1,446 | ) |  | $ | 157,371 |
Commercial - U.S. Government sponsored entities | 96,097 |  |  | 1,074 |  |  | (2 | ) |  | 97,169 |
Total | $ | 254,719 |  |  | $ | 1,269 |  |  | $ | (1,448 | ) |  | $ | 254,540 |
Available for Sale: |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |
States and political subdivisions | $ | 188,229 |  |  | $ | 3,679 |  |  | $ | (1,475 | ) |  | $ | 190,433 |
Corporate securities | 103,117 |  |  | 1,612 |  |  | (31 | ) |  | 104,698 |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |
Residential - U.S. Government sponsored entities | 760,884 |  |  | 10,043 |  |  | (2,341 | ) |  | 768,586 |
Residential - Non-government agencies | 66,560 |  |  | 2,452 |  |  | — |  |  | 69,012 |
Commercial - Non-government agencies | 135,487 |  |  | 3,629 |  |  | (355 | ) |  | 138,761 |
Other | 823 |  |  | 69 |  |  | — |  |  | 892 |
Total | $ | 1,255,100 |  |  | $ | 21,484 |  |  | $ | (4,202 | ) |  | $ | 1,272,382 |
December 31, 2014 |  |  |  |  |  |  |  |  |  |  |
Held to Maturity: |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |
Residential - U.S. Government sponsored entities | $ | 140,741 |  |  | $ | 196 |  |  | $ | (2,150 | ) |  | $ | 138,787 |
Commercial - U.S. Government sponsored entities | 97,546 |  |  | — |  |  | (736 | ) |  | 96,810 |
Total | $ | 238,287 |  |  | $ | 196 |  |  | $ | (2,886 | ) |  | $ | 235,597 |
Available for Sale: |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |
States and political subdivisions | $ | 191,280 |  |  | $ | 2,054 |  |  | $ | (1,689 | ) |  | $ | 191,645 |
Corporate securities | 99,237 |  |  | 1,492 |  |  | (125 | ) |  | 100,604 |
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |
Residential - U.S. Government sponsored entities | 744,527 |  |  | 11,064 |  |  | (4,033 | ) |  | 751,558 |
Residential - Non-government agencies | 45,275 |  |  | 1,510 |  |  | (92 | ) |  | 46,693 |
Commercial - Non-government agencies | 135,630 |  |  | 2,946 |  |  | (935 | ) |  | 137,641 |
Other | 757 |  |  | 120 |  |  | — |  |  | 877 |
Total | $ | 1,216,706 |  |  | $ | 19,186 |  |  | $ | (6,874 | ) |  | $ | 1,229,018 |
Schedule of amortized cost and estimated fair value of investment securities by contractual maturity | The amortized cost and estimated fair value of investment securities at September 30, 2015 by contractual maturity are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.
| September 30, 2015
(dollars in thousands) | Amortized Cost |  | Estimated Fair Value
Held to Maturity |  |  |  |  |
Mortage-backed securities: |  |  |  |  |
Residential - U.S. Government sponsored entities | $ | 158,622 |  |  | $ | 157,371 |
Commercial - U.S. Government sponsored entities | 96,097 |  |  | 97,169 |
Total | $ | 254,719 |  |  | $ | 254,540 |
Available for Sale |  |  |  |  |
Due in one year or less | $ | 7,559 |  |  | $ | 7,690 |
Due after one year through five years | 98,871 |  |  | 100,540 |
Due after five years through ten years | 82,352 |  |  | 83,760 |
Due after ten years | 102,564 |  |  | 103,141 |
Mortage-backed securities: |  |  |  |  |
Residential - U.S. Government sponsored entities | 760,884 |  |  | 768,586 |
Residential - Non-government agencies | 66,560 |  |  | 69,012 |
Commercial - Non-government agencies | 135,487 |  |  | 138,761 |
Other | 823 |  |  | 892 |
Total | $ | 1,255,100 |  |  | $ | 1,272,382 |
Schedule of investment securities in an unrealized loss position | Provided below is a summary of the 138 and 195 investment securities which were in an unrealized loss position at September 30, 2015 and December 31, 2014, respectively.
| Less than 12 months |  | 12 months or longer |  | Total
|  |  | Unrealized |  |  |  | Unrealized |  |  |  | Unrealized
(dollars in thousands) | Fair Value |  | Losses |  | Fair Value |  | Losses |  | Fair Value |  | Losses
September 30, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
States and political subdivisions | $ | 36,426 |  |  | $ | (706 | ) |  | $ | 19,410 |  |  | $ | (769 | ) |  | $ | 55,836 |  |  | $ | (1,475 | )
Corporate securities | 10,753 |  |  | (31 | ) |  | — |  |  | — |  |  | 10,753 |  |  | (31 | )
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential - U.S. Government sponsored entities | 344,484 |  |  | (2,500 | ) |  | 85,081 |  |  | (1,287 | ) |  | 429,565 |  |  | (3,787 | )
Commercial - U.S. Government sponsored entities | 9,723 |  |  | (2 | ) |  | — |  |  | — |  |  | 9,723 |  |  | (2 | )
Commercial - Non-government agencies | 33,484 |  |  | (256 | ) |  | 4,706 |  |  | (99 | ) |  | 38,190 |  |  | (355 | )
Total temporarily impaired securities | $ | 434,870 |  |  | $ | (3,495 | ) |  | $ | 109,197 |  |  | $ | (2,155 | ) |  | $ | 544,067 |  |  | $ | (5,650 | )
December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
States and political subdivisions | $ | 23,591 |  |  | $ | (145 | ) |  | $ | 68,622 |  |  | $ | (1,544 | ) |  | $ | 92,213 |  |  | $ | (1,689 | )
Corporate securities | 23,938 |  |  | (125 | ) |  | — |  |  | — |  |  | 23,938 |  |  | (125 | )
Mortgage-backed securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential - U.S. Government sponsored entities | 107,755 |  |  | (487 | ) |  | 318,571 |  |  | (5,696 | ) |  | 426,326 |  |  | (6,183 | )
Residential - Non-government agencies | 15,895 |  |  | (92 | ) |  | — |  |  | — |  |  | 15,895 |  |  | (92 | )
Commercial - U.S. Government sponsored entities | 11,455 |  |  | (34 | ) |  | 85,355 |  |  | (702 | ) |  | 96,810 |  |  | (736 | )
Commercial - Non-government agencies | 4,962 |  |  | (8 | ) |  | 47,539 |  |  | (927 | ) |  | 52,501 |  |  | (935 | )
Total temporarily impaired securities | $ | 187,596 |  |  | $ | (891 | ) |  | $ | 520,087 |  |  | $ | (8,869 | ) |  | $ | 707,683 |  |  | $ | (9,760 | )

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