SECURITIES

6 Months Ended

Jun. 30, 2014

Investments Debt And Equity Securities [Abstract]

SECURITIES

(3) SECURITIES

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

	June 30, 2014
	(Dollars in thousands)
Held for investment, at cost (fair value: $9,386)	$	9,297
Available for sale, at fair value		561,132
Total	$	570,429

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

	June 30, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
	(Dollars in thousands)
Mortgage backed securities (1)	$	533	$	37	$	—	$	570
States and political subdivisions		8,764		52		—		8,816
Total	$	9,297	$	89	$	—	$	9,386

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

	June 30, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Dollars in thousands)
U.S. treasury and other federal agencies	$	458,976	$	2,061	$	(212	)	$	460,825
Mortgage backed securities (1)		28,390		678		(508	)		28,560
States and political subdivisions		53,652		1,918		(48	)		55,522
Other securities (2)		12,126		4,276		(177	)		16,225
Total	$	553,144	$	8,933	$	(945	)	$	561,132

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

(2) Primarily consists of equity securities.

The maturities of securities held for investment and available for sale are summarized in the following table using contractual maturities. Actual maturities may differ from contractual maturities due to obligations that are called or prepaid. For purposes of the maturity table, mortgage-backed securities, which are not due at a single maturity date, have been presented at their contractual maturity.

	June 30, 2014
	Amortized Cost		Estimated Fair Value
	(Dollars in thousands)
Held for Investment
Contractual maturity of debt securities:
Within one year	$	1,586	$	1,595
After one year but within five years		7,013		7,053
After five years but within ten years		656		693
After ten years		42		45
Total	$	9,297	$	9,386
Available for Sale
Contractual maturity of debt securities:
Within one year	$	60,097	$	60,305
After one year but within five years		367,055		368,721
After five years but within ten years		25,815		26,668
After ten years		91,471		92,697
Total debt securities		544,438		548,391
Equity securities		8,706		12,741
Total	$	553,144	$	561,132

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, 2014
	(Dollars in thousands)
Book value of pledged securities	$	415,206