INVESTMENT SECURITIES (Tables)

6 Months Ended

Jun. 30, 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
June 30, 2016
Held-to-Maturity:
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities	$	139,626	$	835	$	—		$	140,461
Commercial - U.S. Government-sponsored entities	94,604		3,001		—			97,605
Total	$	234,230	$	3,836	$	—		$	238,066

Available-for-Sale:
Debt securities:
States and political subdivisions	$	186,202	$	7,680	$	(19	)	$	193,863
Corporate securities	106,907		3,017		—			109,924
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities	738,692		12,222		(251		)	750,663
Residential - Non-government agencies	58,734		2,736		—			61,470
Commercial - Non-government agencies	135,344		8,589		—			143,933
Other	660		80		—			740
Total	$	1,226,539	$	34,324	$	(270	)	$	1,260,593



(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 June 30, 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.



	June 30, 2016
(dollars in thousands)	Amortized Cost		Estimated Fair Value
Held-to-Maturity:
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities	$	139,626	$	140,461
Commercial - U.S. Government-sponsored entities	94,604		97,605
Total	$	234,230	$	238,066

Available-for-Sale:
Due in one year or less	$	18,708	$	18,803
Due after one year through five years	107,229		110,523
Due after five years through ten years	79,695		83,380
Due after ten years	87,477		91,081

Mortgage-backed securities:
Residential - U.S. Government-sponsored entities	738,692		750,663
Residential - Non-government agencies	58,734		61,470
Commercial - Non-government agencies	135,344		143,933
Other	660		740
Total	$	1,226,539	$	1,260,593

Schedule of investment securities in an unrealized loss position

Provided below is a summary of the 13 and 155 investment securities which were in an unrealized loss position at June 30, 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
June 30, 2016
Debt securities:
States and political subdivisions	$	3,263	$	(19	)	$	—	$	—		$	3,263	$	(19	)
Corporate securities	5,000		—			—		—			5,000		—
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities	21,250		(83		)	69,502		(168		)	90,752		(251		)
Total temporarily impaired securities	$	29,513	$	(102	)	$	69,502	$	(168	)	$	99,015	$	(270	)



	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	)