INVESTMENT SECURITIES (Tables)

9 Months Ended

Sep. 30, 2017

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			Fair Value
September 30, 2017
Held-to-Maturity:
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities	$	105,659	$	127	$	(1,832	)	$	103,954
Commercial - U.S. Government-sponsored entities	92,013		178		(431		)	91,760
Total	$	197,672	$	305	$	(2,263	)	$	195,714

Available-for-Sale:
Debt securities:
States and political subdivisions	$	181,665	$	3,244	$	(555	)	$	184,354
Corporate securities	92,440		1,444		(54		)	93,830
U.S. Treasury obligations and direct obligations of U.S Government agencies	25,991		116		(129		)	25,978
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities	822,342		3,720		(6,976		)	819,086
Commercial - U.S. Government agencies and sponsored entities	40,385		29		(186		)	40,228
Residential - Non-government agencies	46,881		794		(211		)	47,464
Commercial - Non-government agencies	135,105		3,273		(7		)	138,371
Other	665		129		—			794
Total	$	1,345,474	$	12,749	$	(8,118	)	$	1,350,105



(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
December 31, 2016
Held-to-Maturity:
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities	$	124,082	$	92	$	(2,474	)	$	121,700
Commercial - U.S. Government-sponsored entities	93,586		—		(920		)	92,666
Total	$	217,668	$	92	$	(3,394	)	$	214,366

Available-for-Sale:
Debt securities:
States and political subdivisions	$	184,836	$	2,002	$	(1,797	)	$	185,041
Corporate securities	98,596		974		(181		)	99,389
U.S. Treasury obligations and direct obligations of U.S Government agencies	—		—		—			—
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities	775,803		3,698		(9,515		)	769,986
Residential - Non-government agencies	51,681		627		(761		)	51,547
Commercial - Non-government agencies	135,248		2,387		(411		)	137,224
Other	564		96		—			660
Total	$	1,246,728	$	9,784	$	(12,665	)	$	1,243,847

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, 2017 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, 2017
(dollars in thousands)	Amortized Cost		Fair Value
Held-to-Maturity:
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities	$	105,659	$	103,954
Commercial - U.S. Government-sponsored entities	92,013		91,760
Total	$	197,672	$	195,714

Available-for-Sale:
Due in one year or less	$	10,193	$	10,228
Due after one year through five years	152,586		154,716
Due after five years through ten years	52,282		53,293
Due after ten years	85,035		85,925

Mortgage-backed securities:
Residential - U.S. Government-sponsored entities	822,342		819,086
Commercial - U.S. Government agencies and sponsored entities	40,385		40,228
Residential - Non-government agencies	46,881		47,464
Commercial - Non-government agencies	135,105		138,371
Other	665		794
Total	$	1,345,474	$	1,350,105

Schedule of investment securities in an unrealized loss position

Provided below is a summary of the 144 and 242 investment securities which were in an unrealized loss position at September 30, 2017 and December 31, 2016, 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
September 30, 2017
Debt securities:
States and political subdivisions	$	30,233	$	(414	)	$	5,591	$	(141	)	$	35,824	$	(555	)
Corporate securities	—		—			5,354		(54		)	5,354		(54		)
U.S. Treasury obligations and direct obligations of U.S Government agencies	12,090		(129		)	—		—			12,090		(129		)
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities	415,136		(5,012		)	152,528		(3,796		)	567,664		(8,808		)
Residential - Non-government agencies	10,129		(211		)	—		—			10,129		(211		)
Commercial - U.S. Government agencies and sponsored entities	40,690		(617		)	—		—			40,690		(617		)
Commercial - Non-government agencies	14,616		(7		)	—		—			14,616		(7		)
Total temporarily impaired securities	$	522,894	$	(6,390	)	$	163,473	$	(3,991	)	$	686,367	$	(10,381	)



	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, 2016
Debt securities:
States and political subdivisions	$	85,288	$	(1,797	)	$	—	$	—		$	85,288	$	(1,797	)
Corporate securities	20,357		(181		)	—		—			20,357		(181		)
U.S. Treasury obligations and direct obligations of U.S Government agencies	—		—			—		—			—		—
Mortgage-backed securities:
Residential - U.S. Government-sponsored entities	648,923		(11,766		)	3,978		(223		)	652,901		(11,989		)
Residential - Non-government agencies	30,596		(761		)	—		—			30,596		(761		)
Commercial - U.S. Government-sponsored entities	92,666		(920		)	—		—			92,666		(920		)
Commercial - Non-government agencies	52,880		(411		)	—		—			52,880		(411		)
Total temporarily impaired securities	$	930,710	$	(15,836	)	$	3,978	$	(223	)	$	934,688	$	(16,059	)