SECURITIES (Tables)

3 Months Ended

Mar. 31, 2014

Investments Debt And Equity Securities [Abstract]

Summary of Securities Held for Investment and Securities Available for Sale

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

	March 31, 2014
	(Dollars in thousands)
Held for investment, at cost (fair value: $11,351)	$	11,269
Available for sale, at fair value		575,749
Total	$	587,018

Summary of 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:

	March 31, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in thousands)
Mortgage backed securities (1)	$	575	$	41	$	—		$	616
States and political subdivisions		10,694		48		(7	)		10,735
Total	$	11,269	$	89	$	(7	)	$	11,351

Summary of 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:

	March 31, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in thousands)
U.S. treasury and other federal agencies	$	474,579	$	1,452	$	(498	)	$	475,533
Mortgage backed securities (1)		29,228		637		(1	)		29,864
States and political subdivisions		53,456		1,583		(68	)		54,971
Other securities (2)		12,060		3,462		(141	)		15,381
Total	$	569,323	$	7,134	$	(708	)	$	575,749

(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.

	March 31, 2014
	Amortized Cost		Estimated Fair Value
	(Dollars in thousands)
Held for Investment
Contractual maturity of debt securities:
Within one year	$	3,190	$	3,193
After one year but within five years		7,240		7,274
After five years but within ten years		639		662
After ten years		200		222
Total	$	11,269	$	11,351
Available for Sale
Contractual maturity of debt securities:
Within one year	$	172,145	$	172,418
After one year but within five years		267,092		267,938
After five years but within ten years		27,354		28,056
After ten years		94,085		95,439
Total debt securities		560,676		563,851
Equity securities		8,647		11,898
Total	$	569,323	$	575,749

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:

	March 31, 2014
	(Dollars in thousands)
Book value of pledged securities	$	434,972