INVESTMENT SECURITIES (Tables)

9 Months Ended

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	)