SECURITIES (Tables)

6 Months Ended

Jun. 30, 2013

Investments Debt And Equity Securities [Abstract]

Summarizes Securities Held for Investment and Securities Available for Sale

The following table summarizes securities held for investment and securities available for sale:

	June 30, 2013
	(Dollars in thousands)
Held for investment, at cost (fair value: $14,654)	$	14,511
Available for sale, at fair value		505,913
Total	$	520,424

Summarizes Amortized Cost and Estimated Fair Values of Securities Held for Investment

The following table summarizes the amortized cost and estimated fair values of securities held for investment:

	June 30, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in thousands)
Mortgage backed securities (1)	$	691	$	57	$	—		$	748
States and political subdivisions		13,820		94		(8	)		13,906
Total	$	14,511	$	151	$	(8	)	$	14,654

Summarizes Amortized Cost and Estimated Fair Values of Securities Available for Sale

The following table summarizes the amortized cost and estimated fair values of securities available for sale:

	June 30, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in thousands)
U.S. treasury and other Federal agencies	$	422,298	$	2,558	$	(176	)	$	424,680
Mortgage backed securities (1)		15,417		614		—			16,031
States and political subdivisions		50,604		1,386		(61	)		51,929
Other securities (2)		11,094		2,315		(136	)		13,273
Total	$	499,413	$	6,873	$	(373	)	$	505,913

(1) Primarily consists of FHLMC, FNMA, GNMA and mortgage backed securities through U.S. agencies.

(2) Primarily consists of equity securities.

Maturity of Securities

The maturities of securities held for investment and available for sale are summarized in the following table using contractual maturities.  

	June 30, 2013
	Amortized Cost		Estimated Fair Value
	(Dollars in thousands)
Held for Investment
Contractual maturity of debt securities:
Within one year	$	5,705	$	5,723
After one year but within five years		7,547		7,605
After five years but within ten years		867		886
After ten years		392		440
Total	$	14,511	$	14,654
Available for Sale
Contractual maturity of debt securities:
Within one year	$	260,548	$	260,550
After one year but within five years		113,656		115,492
After five years but within ten years		33,120		33,862
After ten years		84,388		86,182
Total debt securities		491,712		496,086
Equity securities		7,701		9,827
Total	$	499,413	$	505,913

Company's Book Value of Pledged Securities

The following table is a summary of the Company’s book value of securities that were pledged as collateral for public funds on deposit, repurchase agreements and for other purposes as required or permitted by law:

	June 30, 2013
	(Dollars in thousands)
Book value of pledged securities	$	464,686