SECURITIES (Tables)

9 Months Ended

Sep. 30, 2014

Securities [Abstract]

Summary of available-for-sale securities

Information related to the fair value and amortized cost of securities available for sale and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) is provided in the tables below.

				Gross		Gross
		Amortized		Unrealized		Unrealized		Fair
(dollars in thousands)		Cost		Gain		Losses		Value
September 30, 2014
U.S. Treasury securities	$	985	$	0	$	0	$	985
Agency residential mortgage-backed securities		368,935		6,610		(3,799)		371,746
State and municipal securities		96,985		3,889		(530)		100,344
Total	$	466,905	$	10,499	$	(4,329)	$	473,075
December 31, 2013
U.S. Treasury securities	$	1,001	$	16	$	0	$	1,017
Agency residential mortgage-backed securities		374,611		5,301		(7,935)		371,977
State and municipal securities		95,388		2,597		(2,012)		95,973
Total	$	471,000	$	7,914	$	(9,947)	$	468,967

Schedule of available-for-sale securities by maturity

Actual maturities of securities may differ from contractual maturities because borrowers may have the right to prepay the obligation without a prepayment penalty.

		Amortized		Fair
(dollars in thousands)		Cost		Value
Due in one year or less	$	4,564	$	4,603
Due after one year through five years		18,257		19,273
Due after five years through ten years		45,045		46,872
Due after ten years		30,104		30,581
		97,970		101,329
Mortgage-backed securities		368,935		371,746
Total debt securities	$	466,905	$	473,075

Schedule of Sales of Securities Available For Sale

Securities proceeds, gross gains and gross losses are presented below.

	Nine months ended September 30,				Three months ended September 30,
(dollars in thousands)	2014		2013		2014		2013
Sales of securities available for sale
Proceeds	$	13,766	$	29,995	$	13,766	$	29,995
Gross gains		3		1,077		3		1,077
Gross losses		231		972		231		972

Schedule of available-for-sale securities continuous unrealized loss position

Information regarding securities with unrealized losses as of September 30, 2014 and December 31, 2013 is presented below. The tables divide the securities between those with unrealized losses for less than twelve months and those with unrealized losses for twelve months or more.

	Less than 12 months				12 months or more				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(dollars in thousands)	Value		Losses		Value		Losses		Value		Losses
September 30, 2014
Agency residential mortgage-backed
securities	$	65,582	$	(507)	$	113,996	$	(3,292)	$	179,578	$	(3,799)
State and municipal securities		466		(15)		17,064		(515)		17,530		(530)
Total temporarily impaired	$	66,048	$	(522)	$	131,060	$	(3,807)	$	197,108	$	(4,329)
December 31, 2013
Agency residential mortgage-backed
securities	$	177,779	$	(6,444)	$	34,093	$	(1,491)	$	211,872	$	(7,935)
State and municipal securities		24,610		(1,102)		8,037		(910)		32,647		(2,012)
Total temporarily impaired	$	202,389	$	(7,546)	$	42,130	$	(2,401)	$	244,519	$	(9,947)

Quantitative disclosure of available-for-sale securities

The total number of securities with unrealized losses as of September 30, 2014 and December 31, 2013 is presented below.

	Less than	12 months
	12 months	or more	Total
September 30, 2014
Agency residential mortgage-backed securities	21	29	50
State and municipal securities	1	33	34
Total temporarily impaired	22	62	84
	Less than	12 months
	12 months	or more	Total
December 31, 2013
Agency residential mortgage-backed securities	49	10	59
State and municipal securities	59	12	71
Total temporarily impaired	108	22	130