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INVESTMENT SECURITIES (Tables)
 9 Months Ended
Sep. 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
September 30, 2016
 

 
 

 
 

 
 

Held-to-Maturity:
 

 
 

 
 

 
 

Mortgage-backed securities:
 

 
 

 
 

 
 

Residential - U.S. Government-sponsored entities
$
132,470

 
$
890

 
$
(2
)
 
$
133,358

Commercial - U.S. Government-sponsored entities
94,103

 
3,068

 
—

 
97,171

Total
$
226,573

 
$
3,958

 
$
(2
)
 
$
230,529

 
 
 
 
 
 
 
 
Available-for-Sale:
 

 
 

 
 

 
 

Debt securities:
 

 
 

 
 

 
 

States and political subdivisions
$
185,504

 
$
6,300

 
$
(26
)
 
$
191,778

Corporate securities
107,011

 
2,609

 
(12
)
 
109,608

Mortgage-backed securities:
 

 
 

 
 

 
 

Residential - U.S. Government-sponsored entities
747,636

 
11,881

 
(314
)
 
759,203

Residential - Non-government agencies
55,480

 
2,142

 
—

 
57,622

Commercial - Non-government agencies
135,296

 
7,933

 
—

 
143,229

Other
692

 
92

 
—

 
784

Total
$
1,231,619

 
$
30,957

 
$
(352
)
 
$
1,262,224



(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 September 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.
 
 
September 30, 2016
(dollars in thousands)
Amortized
Cost
 
Estimated Fair
Value
Held-to-Maturity:
 

 
 

Mortgage-backed securities:
 

 
 

Residential - U.S. Government-sponsored entities
$
132,470

 
$
133,358

Commercial - U.S. Government-sponsored entities
94,103

 
97,171

Total
$
226,573

 
$
230,529

 
 
 
 
Available-for-Sale:
 

 
 

Due in one year or less
$
13,648

 
$
13,676

Due after one year through five years
124,029

 
127,061

Due after five years through ten years
73,338

 
75,987

Due after ten years
81,500

 
84,662

 
 
 
 
Mortgage-backed securities:
 
 
 
Residential - U.S. Government-sponsored entities
747,636

 
759,203

Residential - Non-government agencies
55,480

 
57,622

Commercial - Non-government agencies
135,296

 
143,229

Other
692

 
784

Total
$
1,231,619

 
$
1,262,224
Schedule of investment securities in an unrealized loss position
Provided below is a summary of the 21 and 155 investment securities which were in an unrealized loss position at September 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
September 30, 2016
 

 
 

 
 

 
 

 
 

 
 

Debt securities:
 

 
 

 
 

 
 

 
 

 
 

States and political subdivisions
$
3,425

 
$
(26
)
 
$
—

 
$
—

 
$
3,425

 
$
(26
)
Corporate securities
5,497

 
(12
)
 
—

 
—

 
5,497

 
(12
)
Mortgage-backed securities:
 

 
 

 
 

 
 

 
 

 
 

Residential - U.S. Government-sponsored entities
101,566

 
(263
)
 
4,181

 
(53
)
 
105,747

 
(316
)
Total temporarily impaired securities
$
110,488

 
$
(301
)
 
$
4,181

 
$
(53
)
 
$
114,669

 
$
(354
)


 
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
)