SECURITIES (Tables)

6 Months Ended

Jun. 30, 2012

Summary of Amortized Costs and Estimated Fair Values of Available-For-Sale Securities

The following tables summarize the amortized costs and estimated fair values of securities available-for-sale (“AFS”), as of June 30, 2012 and December 31, 2011:

	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
June 30, 2012
Obligations of states and political subdivisions	$	35,161	$	2,073	$	—		$	37,234
Mortgage-backed securities issued or guaranteed by U.S. government sponsored enterprises		611,806		18,212		(84	)		629,934
Private issue collateralized mortgage obligations		11,708		—		(1,614	)		10,094
Total securities available for sale	$	658,675	$	20,285	$	(1,698	)	$	677,262
December 31, 2011
Obligations of U.S. government sponsored enterprises	$	29,996	$	116	$	(5	)	$	30,107
Obligations of states and political subdivisions		37,138		2,620		—			39,758
Mortgage-backed securities issued or guaranteed by U.S. government sponsored enterprises		488,226		17,489		(331	)		505,384
Private issue collateralized mortgage obligations		12,557		—		(1,916	)		10,641
Total debt securities		567,917		20,225		(2,252	)		585,890
Equity securities		5,000		—		(854	)		4,146
Total securities available for sale	$	572,917	$	20,225	$	(3,106	)	$	590,036

Unrealized Gross Losses and Estimated Fair values of Investment Securities by Length of Time that Individual Securities in Each Category in Continuous Loss Position

The following table presents the estimated fair values and gross unrealized losses of investment securities that were in a continuous loss position at June 30, 2012 and December 31, 2011, by length of time that individual securities in each category have been in a continuous loss position:

	Less Than 12 Months					12 Months or More					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
June 30, 2012
Mortgage-backed securities	$	19,401	$	(84	)	$	38	$	—		$	19,439	$	(84	)
Private issue collateralized mortgage obligations		—		—			10,094		(1,614	)		10,094		(1,614	)
Total	$	19,401	$	(84	)	$	10,132	$	(1,614	)	$	29,533	$	(1,698	)
December 31, 2011
U.S. government sponsored enterprises	$	9,995	$	(5	)	$	—	$	—		$	9,995	$	(5	)
Mortgage-backed securities		38,025		(331	)		66		—			38,091		(331	)
Private issue collateralized mortgage obligations		—		—			10,641		(1,916	)		10,641		(1,916	)
Equity securities		—		—			4,146		(854	)		4,146		(854	)
Total	$	48,020	$	(336	)	$	14,853	$	(2,770	)	$	62,873	$	(3,106	)

Company's Sales of Securities

The following information details the Company’s sales of securities:

	Six Months Ended June 30,
Available for sale	2012			2011
Proceeds from sales of securities	$	31,364		$	7,842
Gross realized gains		1,104			93
Gross realized (losses)		(203	)		(73	)

Amortized Cost and Estimated Fair Values of Debt Securities by Contractual Maturity

The amortized cost and estimated fair values of debt securities by contractual maturity at June 30, 2012 are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

Available for sale	Amortized Cost		Fair Value
Due in one year or less	$	4,810	$	4,881
Due after one year through five years		16,982		17,477
Due after five years through ten years		141,396		146,321
Due after ten years		495,487		508,583
	$	658,675	$	677,262