XML 36 R25.htm IDEA: XBRL DOCUMENT v3.5.0.2
INVESTMENTS (Tables)
 6 Months Ended
Jun. 30, 2016
Investments, Debt and Equity Securities [Abstract]  
Summary of Held-To-Maturity and Available-For-Sale Investment Securities
The following is a summary of held-to-maturity and available-for-sale investment securities as of June 30, 2016:
  
 
Held-to-maturity
 
Available-for-sale
(Dollars in thousands)
 
Amortized
cost
 
Unrecognized gain
 
Unrecognized loss
 
Fair
value
 
Amortized
cost
 
Unrealized
gain
 
Unrealized
loss
 
Fair
value
U.S. Treasuries
 
$
0

 
$
0

 
$
0

 
$
0

 
$
98

 
$
4

 
$
0

 
$
102

Securities of U.S. government agencies and corporations
 
14,345

 
468

 
0

 
14,813

 
7,471

 
255

 
0

 
7,726

Mortgage-backed securities
 
624,048

 
18,191

 
(227
)
 
642,012

 
673,084

 
9,460

 
(2,597
)
 
679,947

Obligations of state and other political subdivisions
 
26,900

 
775

 
0

 
27,675

 
108,575

 
5,609

 
(387
)
 
113,797

Asset-backed securities
 
0

 
0

 
0

 
0

 
269,380

 
1,080

 
(3,282
)
 
267,178

Other securities
 
4,818

 
0

 
(30
)
 
4,788

 
45,901

 
667

 
(969
)
 
45,599

Total
 
$
670,111

 
$
19,434

 
$
(257
)
 
$
689,288

 
$
1,104,509

 
$
17,075

 
$
(7,235
)
 
$
1,114,349


The following is a summary of held-to-maturity and available-for-sale investment securities as of December 31, 2015:
  
 
Held-to-maturity
 
Available-for-sale
(Dollars in thousands)
 
Amortized
cost
 
Unrecognized gain
 
Unrecognized
loss
 
Fair
value
 
Amortized
cost
 
Unrealized
gain
 
Unrealized
loss
 
Fair
value
U.S. Treasuries
 
$
0

 
$
0

 
$
0

 
$
0

 
$
98

 
$
0

 
$
(1
)
 
$
97

Securities of U.S. government agencies and corporations
 
15,486

 
121

 
0

 
15,607

 
8,183

 
157

 
0

 
8,340

Mortgage-backed securities
 
678,318

 
7,452

 
(1,999
)
 
683,771

 
775,285

 
2,708

 
(12,926
)
 
765,067

Obligations of state and other political subdivisions
 
27,646

 
338

 
(99
)
 
27,885

 
105,212

 
2,655

 
(730
)
 
107,137

Asset-backed securities
 
0

 
0

 
0

 
0

 
236,411

 
35

 
(3,445
)
 
233,001

Other securities
 
4,809

 
0

 
(121
)
 
4,688

 
77,876

 
523

 
(1,399
)
 
77,000

Total
 
$
726,259

 
$
7,911

 
$
(2,219
)
 
$
731,951

 
$
1,203,065

 
$
6,078

 
$
(18,501
)
 
$
1,190,642
Summary of Investment Securities by Estimated Maturity
The following table provides a summary of investment securities by contractual maturity or estimated weighted average life as of June 30, 2016. Estimated lives on amortizing investment securities may differ from contractual maturities as issuers may have the right to call or prepay obligations with or without call or prepayment penalties.
 
Held-to-maturity
 
Available-for-sale
(Dollars in thousands)
Amortized
cost
 
Fair
value
 
Amortized
cost
 
Fair
value
Due in one year or less
$
4,724

 
$
4,743

 
$
83,023

 
$
82,480

Due after one year through five years
588,565

 
604,411

 
773,882

 
777,441

Due after five years through ten years
76,822

 
80,134

 
218,341

 
224,371

Due after ten years
0

 
0

 
29,263

 
30,057

Total
$
670,111

 
$
689,288

 
$
1,104,509

 
$
1,114,349
Age of Gross Unrealized Losses and Associated Fair Value by Investment Category
The following tables provide the fair value and gross unrealized losses on investment securities in an unrealized loss position, aggregated by investment category and the length of time the individual securities have been in a continuous loss position:
 
 
June 30, 2016
 
 
Less than 12 months
 
12 months or more
 
Total
(Dollars in thousands)
 
Fair
value
 
Unrealized
loss
 
Fair
value
 
Unrealized
loss
 
Fair
value
 
Unrealized
loss
Mortgage-backed securities
 
$
102,227

 
$
(531
)
 
$
202,649

 
$
(2,293
)
 
$
304,876

 
$
(2,824
)
Obligations of state and other political subdivisions
 
1,369

 
(11
)
 
13,279

 
(376
)
 
14,648

 
(387
)
Asset-backed securities
 
75,261

 
(895
)
 
106,105

 
(2,387
)
 
181,366

 
(3,282
)
Other securities
 
15,458

 
(543
)
 
11,472

 
(456
)
 
26,930

 
(999
)
Total
 
$
194,315

 
$
(1,980
)
 
$
333,505

 
$
(5,512
)
 
$
527,820

 
$
(7,492
)

 
 
December 31, 2015
 
 
Less than 12 months
 
12 months or more
 
Total
 
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
Fair
 
Unrealized
(Dollars in thousands)
 
value
 
loss
 
value
 
loss
 
value
 
loss
U.S. Treasuries
 
$
97

 
$
(1
)
 
$
0

 
$
0

 
$
97

 
$
(1
)
Mortgage-backed securities
 
500,768

 
(5,362
)
 
246,523

 
(9,563
)
 
747,291

 
(14,925
)
Obligations of state and other political subdivisions
 
5,800

 
(65
)
 
29,287

 
(764
)
 
35,087

 
(829
)
Asset-backed securities
 
189,066

 
(3,042
)
 
17,144

 
(403
)
 
206,210

 
(3,445
)
Other securities
 
30,828

 
(592
)
 
24,716

 
(928
)
 
55,544

 
(1,520
)
Total
 
$
726,559

 
$
(9,062
)
 
$
317,670

 
$
(11,658
)
 
$
1,044,229

 
$
(20,720
)