Note 3.

Securities

The amortized cost, estimated fair value, and unrealized gains and losses of securities available for sale are as follows:

(In thousands)	Amortized cost		Unrealized gains		Unrealized losses			Estimated fair value
June 30, 2015
U.S. Treasury	$	10,005	$	9	$	-		$	10,014
Federal Agency		397,197		759		(1,033	)		396,923
State & municipal		29,881		505		(26	)		30,360
Mortgage-backed:
Government-sponsored enterprises		333,292		5,914		(439	)		338,767
U.S. government agency securities		15,325		796		(59	)		16,062
Collateralized mortgage obligations:
Government-sponsored enterprises		285,733		1,966		(535	)		287,164
U.S. government agency securities		33,965		428		(34	)		34,359
Other securities		12,872		2,870		(142	)		15,600
Total securities available for sale	$	1,118,270	$	13,247	$	(2,268	)	$	1,129,249
December 31, 2014
U.S. Treasury	$	23,041	$	70	$	-		$	23,111
Federal Agency		332,193		327		(2,606	)		329,914
State & municipal		37,035		587		(52	)		37,570
Mortgage-backed:
Government-sponsored enterprises		339,190		7,597		(224	)		346,563
U.S. government agency securities		17,367		863		(66	)		18,164
Collateralized mortgage obligations:
Government-sponsored enterprises		199,837		1,828		(234	)		201,431
U.S. government agency securities		40,237		497		(36	)		40,698
Other securities		12,818		3,054		(152	)		15,720
Total securities available for sale	$	1,001,718	$	14,823	$	(3,370	)	$	1,013,171

Other securities primarily represent marketable equity securities.

Securities with amortized costs totaling $1.4 billion at June 30, 2015 and $1.4 billion at December 31, 2014 were pledged to secure public deposits and for other purposes required or permitted by law. At June 30, 2015 and December 31, 2014, securities with an amortized cost of $172.2 million and $208.8 million, respectively, were pledged as collateral for securities sold under repurchase agreements.

The amortized cost, estimated fair value, and unrealized gains and losses of securities held to maturity are as follows:

(In thousands)	Amortized cost		Unrealized gains		Unrealized losses			Estimated fair value
June 30, 2015
Mortgage-backed:
Government-sponsored enterprises	$	10,049	$	-	$	(142	)	$	9,907
U.S. government agency securities		695		118		-			813
Collateralized mortgage obligations:
Government-sponsored enterprises		295,510		1,769		(1,826	)		295,453
State & municipal		148,058		466		(442	)		148,082
Total securities held to maturity	$	454,312	$	2,353	$	(2,410	)	$	454,255
December 31, 2014
Mortgage-backed:
Government-sponsored enterprises	$	755	$	113	$	-		$	868
Collateralized mortgage obligations:
Government-sponsored enterprises		317,628		1,934		(1,965	)		317,597
State & municipal		135,978		674		(123	)		136,529
Total securities held to maturity	$	454,361	$	2,721	$	(2,088	)	$	454,994

The following table sets forth information with regard to investment securities with unrealized losses for the periods presented:

	Less than 12 months							12 months or longer							Total
Security Type:	Fair Value		Unrealized losses			Number of Positions		Fair Value		Unrealized losses			Number of Positions		Fair Value		Unrealized losses			Number of Positions

June 30, 2015
Investment securities available for sale:
Federal agency	$	146,403	$	(765	)		13	$	29,732	$	(268	)		3	$	176,135	$	(1,033	)		16
State & municipal		6,184		(26	)		14		-		-			-		6,184		(26	)		14
Mortgage-backed		57,745		(439	)		28		4,571		(59	)		17		62,316		(498	)		45
Collateralized mortgage obligations		87,849		(531	)		9		5,452		(38	)		4		93,301		(569	)		13
Other securities		-		-			-		3,211		(142	)		2		3,211		(142	)		2
Total securities with unrealized losses	$	298,181	$	(1,761	)		64	$	42,966	$	(507	)		26	$	341,147	$	(2,268	)		90

June 30, 2015
Investment securities held to maturity:
Mortgage-backed	$	9,907	$	(142	)		1	$	-	$	-			-	$	9,907	$	(142	)		1
Collateralized mortgage obligations		76,008		(306	)		8		44,136		(1,520	)		4		120,144		(1,826	)		12
State & municipal		43,095		(442	)		89		-		-			-		43,095		(442	)		89
Total securities with unrealized losses	$	129,010	$	(890	)		98	$	44,136	$	(1,520	)		4	$	173,146	$	(2,410	)		102

December 31, 2014
Investment securities available for sale:
Federal agency	$	66,528	$	(226	)		8	$	198,151	$	(2,380	)		16	$	264,679	$	(2,606	)		24
State & municipal		8,818		(42	)		33		1,321		(10	)		5		10,139		(52	)		38
Mortgage-backed		10,400		(36	)		10		35,565		(254	)		31		45,965		(290	)		41
Collateralized mortgage obligations		57,682		(196	)		8		6,598		(74	)		4		64,280		(270	)		12
Other securities		-		-			-		3,201		(152	)		2		3,201		(152	)		2
Total securities with unrealized losses	$	143,428	$	(500	)		59	$	244,836	$	(2,870	)		58	$	388,264	$	(3,370	)		117

December 31, 2014
Investment securities held to maturity:
Collateralized mortgage obligations	$	26,052	$	(49	)		2	$	46,415	$	(1,916	)		4	$	72,467	$	(1,965	)		6
State & municipal		43,514		(116	)		110		1,619		(7	)		6		45,133		(123	)		116
Total securities with unrealized losses	$	69,566	$	(165	)		112	$	48,034	$	(1,923	)		10	$	117,600	$	(2,088	)		122

Management has the intent to hold the securities classified as held to maturity until they mature, at which time it is believed the Company will receive full value for the securities. Furthermore, as of June 30, 2015, management also had the intent to hold, and will not be required to sell, the securities classified as available for sale for a period of time sufficient for a recovery of cost, which may be until maturity. The unrealized losses are due to increases in market interest rates over the yields available at the time the underlying securities were purchased. When necessary, the Company has performed a discounted cash flow analysis to determine whether or not it will receive the contractual principal and interest on certain securities. The fair value is expected to recover as the bonds approach their maturity date or repricing date or if market yields for such investments decline. As of June 30, 2015, management believes the impairments detailed in the table above are temporary and no other-than-temporary impairment losses have been realized in the Company's consolidated statements of income.

The following tables set forth information with regard to contractual maturities of debt securities at June 30, 2015:

(In thousands)	Amortized cost		Estimated fair value
Debt securities classified as available for sale
Within one year	$	13,981	$	14,032
From one to five years		412,442		413,423
From five to ten years		150,200		152,606
After ten years		528,775		533,588
	$	1,105,398	$	1,113,649
Debt securities classified as held to maturity
Within one year	$	24,317	$	24,328
From one to five years		15,730		15,811
From five to ten years		99,778		99,818
After ten years		314,487		314,298
	$	454,312	$	454,255

Maturities of mortgage-backed and collateralized mortgage obligations are stated based on their estimated average lives. Actual maturities may differ from estimated average lives or contractual maturities because, in certain cases, borrowers have the right to call or prepay obligations with or without call or prepayment penalties.

Except for U.S. Government securities, there were no holdings, when taken in the aggregate, of any single issuer that exceeded 10% of consolidated stockholders' equity at June 30, 2015.