Investment Securities (Tables)

9 Months Ended

Sep. 30, 2014

Investments, Debt and Equity Securities [Abstract]

Available-for-sale Securities

The following is a summary of the amortized cost and fair value of investment securities available-for-sale and investment securities held-to-maturity at September 30, 2014, December 31, 2013 and September 30, 2013:

	Investment Securities Available-for-Sale
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
	(In thousands)
September 30, 2014
Government sponsored agencies	$	76,626	$	354	$	42	$	76,938
State and political subdivisions	39,589		1,375		—		40,964
Residential mortgage-backed securities	252,908		846		2,715		251,039
Collateralized mortgage obligations	141,273		346		1,174		140,445
Corporate bonds	64,955		295		67		65,183
Preferred stock	1,389		253		—		1,642
Total	$	576,740	$	3,469	$	3,998	$	576,211
December 31, 2013
Government sponsored agencies	$	93,895	$	250	$	382	$	93,763
State and political subdivisions	42,450		1,355		7		43,798
Residential mortgage-backed securities	303,495		968		5,097		299,366
Collateralized mortgage obligations	182,128		452		1,639		180,941
Corporate bonds	65,028		499		252		65,275
Preferred stock	1,389		63		25		1,427
Total	$	688,385	$	3,587	$	7,402	$	684,570
September 30, 2013
Government sponsored agencies	$	86,065	$	264	$	404	$	85,925
State and political subdivisions	44,191		1,386		5		45,572
Residential mortgage-backed securities	310,550		1,144		3,534		308,160
Collateralized mortgage obligations	200,407		199		2,148		198,458
Corporate bonds	65,053		583		202		65,434
Preferred stock	1,389		208		—		1,597
Total	$	707,655	$	3,784	$	6,293	$	705,146

Held-to-maturity Securities

	Investment Securities Held-to-Maturity
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
	(In thousands)
September 30, 2014
State and political subdivisions	$	308,062	$	5,704	$	6,476	$	307,290
Trust preferred securities	10,500		—		3,515		6,985
Total	$	318,562	$	5,704	$	9,991	$	314,275
December 31, 2013
State and political subdivisions	$	263,405	$	5,462	$	6,846	$	262,021
Trust preferred securities	10,500		—		4,250		6,250
Total	$	273,905	$	5,462	$	11,096	$	268,271
September 30, 2013
State and political subdivisions	$	272,079	$	5,978	$	8,441	$	269,616
Trust preferred securities	10,500		—		4,250		6,250
Total	$	282,579	$	5,978	$	12,691	$	275,866

Amortized cost and fair value of debt securities by contractual maturity

The following is a summary of the amortized cost and fair value of investment securities at September 30, 2014, by maturity, for both available-for-sale and held-to-maturity investment securities. The maturities of residential mortgage-backed securities and collateralized mortgage obligations are based on scheduled principal payments. The maturities of all other debt securities are based on final contractual maturity.

	September 30, 2014
	Amortized Cost		Fair Value
	(In thousands)
Investment Securities Available-for-Sale:
Due in one year or less	$	153,539	$	153,302
Due after one year through five years	349,258		348,952
Due after five years through ten years	68,701		68,537
Due after ten years	3,853		3,778
Preferred stock	1,389		1,642
Total	$	576,740	$	576,211
Investment Securities Held-to-Maturity:
Due in one year or less	$	34,833	$	34,898
Due after one year through five years	135,150		136,359
Due after five years through ten years	95,222		95,839
Due after ten years	53,357		47,179
Total	$	318,562	$	314,275

Summary of continuous unrealized loss position of securities

The following schedule summarizes information for both available-for-sale and held-to-maturity investment securities with gross unrealized losses at September 30, 2014, December 31, 2013 and September 30, 2013, aggregated by category and length of time that individual securities have been in a continuous unrealized loss position.

	Less Than 12 Months				12 Months or More				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
	(In thousands)
September 30, 2014
Government sponsored agencies	$	1,744	$	4	$	24,810	$	38	$	26,554	$	42
State and political subdivisions	91,532		4,010		70,116		2,466		161,648		6,476
Residential mortgage-backed securities	34,280		144		196,045		2,571		230,325		2,715
Collateralized mortgage obligations	44,195		81		28,544		1,093		72,739		1,174
Corporate bonds	4,996		4		14,937		63		19,933		67
Trust preferred securities	—		—		6,985		3,515		6,985		3,515
Total	$	176,747	$	4,243	$	341,437	$	9,746	$	518,184	$	13,989
December 31, 2013
Government sponsored agencies	$	47,352	$	205	$	14,031	$	177	$	61,383	$	382
State and political subdivisions	126,345		6,475		19,074		378		145,419		6,853
Residential mortgage-backed securities	274,076		5,097		—		—		274,076		5,097
Collateralized mortgage obligations	84,995		1,127		14,684		512		99,679		1,639
Corporate bonds	14,931		78		19,826		174		34,757		252
Trust preferred securities	—		—		6,250		4,250		6,250		4,250
Preferred stock	1,024		25		—		—		1,024		25
Total	$	548,723	$	13,007	$	73,865	$	5,491	$	622,588	$	18,498
September 30, 2013
Government sponsored agencies	$	43,816	$	223	$	14,395	$	181	$	58,211	$	404
State and political subdivisions	120,232		6,918		30,915		1,528		151,147		8,446
Residential mortgage-backed securities	267,495		3,532		40		2		267,535		3,534
Collateralized mortgage obligations	129,049		1,617		15,302		531		144,351		2,148
Corporate bonds	9,926		85		19,883		117		29,809		202
Trust preferred securities	—		—		6,250		4,250		6,250		4,250
Total	$	570,518	$	12,375	$	86,785	$	6,609	$	657,303	$	18,984