INVESTMENT SECURITIES (Tables)

3 Months Ended

Mar. 31, 2016

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale

The amortized cost and estimated fair value of investment securities available for sale at March 31, 2016, December 31, 2015 and March 31, 2015 are presented below:

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(Dollars in Thousands)
March 31, 2016:
U.S. government agencies	$	7,592	$	45	$	(9)	$	7,628
State, county and municipal securities		152,764		4,894		(125)		157,533
Corporate debt securities		8,407		139		(24)		8,522
Mortgage-backed securities		657,764		7,042		(1,386)		663,420
Total debt securities	$	826,527	$	12,120	$	(1,544)	$	837,103
December 31, 2015:
U.S. government agencies	$	14,959	$	-	$	(69)	$	14,890
State, county and municipal securities		157,681		4,046		(411)		161,316
Corporate debt securities		5,900		145		(28)		6,017
Mortgage-backed securities		599,721		3,945		(2,704)		600,962
Total debt securities	$	778,261	$	8,136	$	(3,212)	$	783,185
March 31, 2015:
U.S. government agencies	$	14,954	$	72	$	(42)	$	14,984
State, county and municipal securities		154,499		4,800		(235)		159,064
Corporate debt securities		10,794		193		(52)		10,935
Mortgage-backed securities		420,497		6,185		(1,335)		425,347
Total debt securities	$	600,744	$	11,250	$	(1,664)	$	610,330

Amortized Cost and Fair Value of Available for Sale Securities by Contractual Maturity

The amortized cost and fair value of available-for-sale securities at March 31, 2016 by contractual maturity are summarized in the table below. Expected maturities for mortgage-backed securities may differ from contractual maturities because in certain cases borrowers can prepay obligations without prepayment penalties. Therefore, these securities are shown separately in the following maturity summary.

	Amortized		Fair
	Cost		Value
	(Dollars in Thousands)
Due in one year or less	$	4,028	$	4,060
Due from one year to five years		52,090		53,677
Due from five to ten years		51,887		53,967
Due after ten years		60,758		61,979
Mortgage-backed securities		657,764		663,420
	$	826,527	$	837,103

Schedule of Gross Unrealized Losses and Fair Value of Securities

The following table details the gross unrealized losses and fair value of securities aggregated by category and duration of the continuous unrealized loss position at March 31, 2016, December 31, 2015 and March 31, 2015.

		Less Than 12 Months				12 Months or More				Total
		Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
Description of Securities		Value		Losses		Value		Losses		Value		Losses
	(Dollars in Thousands)
March 31, 2016:
U.S. government agencies		$	4,991	$	(9)	$	-	$	-	$	4,991	$	(9)
State, county and municipal securities			5,845		(96)		1,639		(29)		7,484		(125)
Corporate debt securities			883		(24)		-		-		883		(24)
Mortgage-backed securities			142,687		(975)		24,762		(411)		167,449		(1,386)
Total debt securities		$	154,406	$	(1,104)	$	26,401	$	(440)	$	180,807	$	(1,544)
December 31, 2015:
U.S. government agencies		$	9,932	$	(27)	$	4,958	$	(42)	$	14,890	$	(69)
State, county and municipal securities			19,293		(199)		11,557		(212)		30,850		(411)
Corporate debt securities			1,383		(28)		-		-		1,383		(28)
Mortgage-backed securities			263,281		(1,950)		29,950		(754)		293,231		(2,704)
Total debt securities		$	293,889	$	(2,204)	$	46,465	$	(1,008)	$	340,354	$	(3,212)
March 31, 2015:
U.S. government agencies		$	-	$	-	$	4,958	$	(42)	$	4,958	$	(42)
State, county and municipal securities			4,675		(34)		10,579		(201)		15,254		(235)
Corporate debt securities			5,007		(52)		-		-		5,007		(52)
Mortgage-backed securities			46,361		(378)		31,483		(957)		77,844		(1,335)
Total debt securities		$	56,043	$	(464)	$	47,020	$	(1,200)	$	103,063	$	(1,664)

Gross Realized Gains And Losses On Sales Of Available For Sale Securities

The following table is a summary of sales activities in the Company’s investment securities available for sale for the three months ended March 31, 2016, year ended December 31, 2015 and three months ended March 31, 2015:

	March 31, 2016		December 31, 2015		March 31, 2015
	(Dollars in Thousands)
Gross gains on sales of securities	$	312	$	396	$	31
Gross losses on sales of securities		(218)		(259)		(19)
Net realized gains on sales of securities available for sale	$	94	$	137	$	12
Sales proceeds	$	41,564	$	72,528	$	5,118