SECURITIES (Tables)

3 Months Ended

Mar. 31, 2015

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
March 31, 2015
U.S. Treasury securities	$986	$37	$0	$1,023
Agency residential mortgage-backed securities	363,641	9,358	(796)	372,203
State and municipal securities	100,020	4,237	(286)	103,971
Total	$464,647	$13,632	$(1,082)	$477,197

December 31, 2014
U.S. Treasury securities	$986	$18	$0	$1,004
Agency residential mortgage-backed securities	366,596	7,178	(1,679)	372,095
State and municipal securities	99,399	3,857	(444)	102,812
Total	$466,981	$11,053	$(2,123)	$475,911

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	$5,318	$5,368
Due after one year through five years	18,877	19,761
Due after five years through ten years	45,186	47,530
Due after ten years	31,625	32,335
	101,006	104,994
Mortgage-backed securities	363,641	372,203
Total debt securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	$464,647	$477,197

Schedule of Sales of Securities Available For Sale

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

	Three months ended March 31,
(dollars in thousands)	2015	2014
Sales of securities available for sale
Proceeds	$7,787	$0
Gross gains	42	0
Gross losses	0	0

Schedule of Available-For-Sale Securities Continuous Unrealized Loss Position

Information regarding securities with unrealized losses as of March 31, 2015 and December 31, 2014 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
March 31, 2015
Agency residential mortgage-backed
securities	$40,330	$(289)	$32,433	$(507)	$72,763	$(796)
State and municipal securities	7,433	(70)	9,526	(216)	16,959	(286)
Total temporarily impaired	$47,763	$(359)	$41,959	$(723)	$89,722	$(1,082)

December 31, 2014
Agency residential mortgage-backed
securities	$33,420	$(148)	$102,512	$(1,531)	$135,932	$(1,679)
State and municipal securities	2,458	(28)	16,391	(416)	18,849	(444)
Total temporarily impaired	$35,878	$(176)	$118,903	$(1,947)	$154,781	$(2,123)

Quantitative Disclosure of Available-For-Sale Securities

The total number of securities with unrealized losses as of March 31, 2015 and December 31, 2014 is presented below.

	Less than	12 months
	12 months	or more	Total
March 31, 2015
Agency residential mortgage-backed securities	14	9	23
State and municipal securities	19	13	32
Total temporarily impaired	33	22	55

December 31, 2014
Agency residential mortgage-backed securities	9	27	36
State and municipal securities	8	29	37
Total temporarily impaired	17	56	73

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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