|
SECURITIES (Tables)
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6 Months Ended |
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Jun. 30, 2014
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| Investments Debt And Equity Securities [Abstract] |
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| Summary of Securities Held for Investment and Securities Available for Sale |
The following table summarizes securities held for investment and
securities available for sale:
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|
|
|
|
| |
|
June 30, 2014 |
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| |
|
(Dollars in thousands) |
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|
Held for investment, at cost (fair value: $9,386)
|
|
$ |
9,297 |
|
|
Available for sale, at fair value
|
|
|
561,132 |
|
|
|
|
|
|
|
Total
|
|
$ |
570,429 |
|
|
|
|
|
|
|
| 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:
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June 30, 2014 |
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|
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 |
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|
|
52 |
|
|
|
— |
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|
|
8,816 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Total
|
|
$ |
9,297 |
|
|
$ |
89 |
|
|
$ |
— |
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|
$ |
9,386 |
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|
|
|
|
|
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| 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
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 |
|
|
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(508 |
) |
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|
28,560 |
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States and political subdivisions
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|
|
53,652 |
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|
|
1,918 |
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|
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(48 |
) |
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|
55,522 |
|
|
Other securities (2)
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|
|
12,126 |
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|
|
4,276 |
|
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(177 |
) |
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|
16,225 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Total
|
|
$ |
553,144 |
|
|
$ |
8,933 |
|
|
$ |
(945 |
) |
|
$ |
561,132 |
|
|
|
|
|
|
|
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|
| (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. 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.
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|
June 30, 2014 |
|
| |
|
Amortized
Cost |
|
|
Estimated
Fair
Value |
|
| |
|
(Dollars in
thousands) |
|
|
Held for Investment
|
|
|
|
|
|
|
|
|
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Contractual maturity of debt securities:
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|
|
|
|
|
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|
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Within one year
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|
$ |
1,586 |
|
|
$ |
1,595 |
|
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After one year but within five years
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|
|
7,013 |
|
|
|
7,053 |
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After five years but within ten years
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|
656 |
|
|
|
693 |
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After ten years
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|
42 |
|
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|
45 |
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Total
|
|
$ |
9,297 |
|
|
$ |
9,386 |
|
|
|
|
|
|
|
|
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Available for Sale
|
|
|
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|
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Contractual maturity of debt securities:
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|
|
|
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Within one year
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|
$ |
60,097 |
|
|
$ |
60,305 |
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After one year but within five years
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|
367,055 |
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|
368,721 |
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After five years but within ten years
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|
|
25,815 |
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|
26,668 |
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After ten years
|
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|
91,471 |
|
|
|
92,697 |
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Total debt securities
|
|
|
544,438 |
|
|
|
548,391 |
|
|
Equity securities
|
|
|
8,706 |
|
|
|
12,741 |
|
|
|
|
|
|
|
|
|
|
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Total
|
|
$ |
553,144 |
|
|
$ |
561,132 |
|
|
|
|
|
|
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|
| 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:
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|
|
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| |
|
June 30, 2014 |
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| |
|
(Dollars in thousands) |
|
|
Book value of pledged securities
|
|
$ |
415,206 |
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