INVESTMENT SECURITIES (Tables)

3 Months Ended

Mar. 31, 2016

Investments, Debt and Equity Securities [Abstract]

Summary of available for sale and held to maturity investment securities

A summary of held-to-maturity and available-for-sale investment securities are as follows:



(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
March 31, 2016
Held-to-Maturity:
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities	$	146,497	$	242	$	(497	)	$	146,242
Commercial - U.S. Government-sponsored entities	95,100		1,730		—			96,830
Total	$	241,597	$	1,972	$	(497	)	$	243,072

Available-for-Sale:
Debt securities:
States and political subdivisions	$	186,878	$	5,280	$	(356	)	$	191,802
Corporate securities	107,315		2,481		—			109,796
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities	782,288		10,358		(1,000		)	791,646
Residential - Non-government agencies	62,274		1,966		—			64,240
Commercial - Non-government agencies	135,392		5,578		—			140,970
Other	653		69		—			722
Total	$	1,274,800	$	25,732	$	(1,356	)	$	1,299,176



(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
December 31, 2015
Held-to-Maturity:
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities	$	152,315	$	123	$	(2,915	)	$	149,523
Commercial - U.S. Government-sponsored entities	95,602		—		(989		)	94,613
Total	$	247,917	$	123	$	(3,904	)	$	244,136

Available-for-Sale:
Debt securities:
States and political subdivisions	$	187,552	$	3,819	$	(898	)	$	190,473
Corporate securities	107,721		1,077		(227		)	108,571
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities	771,657		5,885		(5,633		)	771,909
Residential - Non-government agencies	64,286		733		(987		)	64,032
Commercial - Non-government agencies	135,439		2,033		(1,118		)	136,354
Other	848		68		—			916
Total	$	1,267,503	$	13,615	$	(8,863	)	$	1,272,255

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 March 31, 2016 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.



	March 31, 2016
(dollars in thousands)	Amortized Cost		Estimated Fair Value
Held-to-Maturity:
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities	$	146,497	$	146,242
Commercial - U.S. Government-sponsored entities	95,100		96,830
Total	$	241,597	$	243,072

Available-for-Sale:
Due in one year or less	$	21,256	$	21,454
Due after one year through five years	104,442		107,027
Due after five years through ten years	78,885		81,183
Due after ten years	89,610		91,934

Mortgage-backed securities:
Residential - U.S. Government-sponsored entities	782,288		791,646
Residential - Non-government agencies	62,274		64,240
Commercial - Non-government agencies	135,392		140,970
Other	653		722
Total	$	1,274,800	$	1,299,176

Schedule of investment securities in an unrealized loss position

Provided below is a summary of the 51 and 155 investment securities which were in an unrealized loss position at March 31, 2016 and December 31, 2015, respectively, segregated by continuous length of impairment.



	Less Than 12 Months					12 Months or Longer					Total
(dollars in thousands)	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
March 31, 2016
Debt securities:
States and political subdivisions	$	6,786	$	(88	)	$	8,640	$	(268	)	$	15,426	$	(356	)
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities	44,973		(120		)	254,673		(1,377		)	299,646		(1,497		)
Total temporarily impaired securities	$	51,759	$	(208	)	$	263,313	$	(1,645	)	$	315,072	$	(1,853	)



	Less Than 12 Months					12 Months or Longer					Total
(dollars in thousands)	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
December 31, 2015
Debt securities:
States and political subdivisions	$	30,481	$	(532	)	$	12,576	$	(366	)	$	43,057	$	(898	)
Corporate securities	32,977		(227		)	—		—			32,977		(227		)
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities	507,525		(6,241		)	88,271		(2,307		)	595,796		(8,548		)
Residential - Non-government agencies	37,975		(987		)	—		—			37,975		(987		)
Commercial - U.S. Government-sponsored entities	94,613		(989		)	—		—			94,613		(989		)
Commercial - Non-government agencies	62,555		(961		)	4,644		(157		)	67,199		(1,118		)
Total temporarily impaired securities	$	766,126	$	(9,937	)	$	105,491	$	(2,830	)	$	871,617	$	(12,767	)