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INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2014

Amortized cost and Estimated fair values of Investments Available-for-sale

			2014								2013
					Gross		Gross		Estimated				Gross		Gross		Estimated
			Amortized		Unrealized		Unrealized		Fair		Amortized		Unrealized		Unrealized		Fair
(In thousands)			Cost		Gains		Losses		Value		Cost		Gains		Losses		Value
U.S. government agencies			$	144,497	$	-	$	(2,818)	$	141,679	$	147,688	$	-	$	(8,222)	$	139,466
State and municipal				157,603		9,453		(4)		167,052		159,524		6,060		(156)		165,428
Mortgage-backed				354,631		9,824		(2,936)		361,519		439,054		10,188		(6,992)		442,250
Corporate debt				-		-		-		-		2,000		4		-		2,004
Trust preferred				1,348		-		(112)		1,236		1,701		-		(288)		1,413
	Total debt securities			658,079		19,277		(5,870)		671,486		749,967		16,252		(15,658)		750,561
Marketable equity securities				723		-		-		723		723		-		-		723
		Total investments available-for-sale	$	658,802	$	19,277	$	(5,870)	$	672,209	$	750,690	$	16,252	$	(15,658)	$	751,284

Activity of OTTI on investment Securities Due to Credit Losses Recognized in Earnings

(In thousands)		OTTI Losses
Cumulative credit losses on investment securities, through December 31, 2012	$	531
Additions for credit losses not previously recognized		-
Cumulative credit losses on investment securities, through December 31, 2013		531
Additions for credit losses not previously recognized		-
Cumulative credit losses on investment securities, through December 31, 2014	$	531

Gross Unrealized Losses and Fair Value by Length of Time

		2014
						Continuous Unrealized
						Losses Existing for:
		Number								Total
		of				Less than		More than		Unrealized
(Dollars in thousands)		securities		Fair Value		12 months		12 months		Losses
U.S. government agencies			14	$	141,679	$	60	$	2,758	$	2,818
State and municipal			2		1,409		4		-		4
Mortgage-backed			20		108,902		58		2,878		2,936
Trust preferred			1		1,236		-		112		112
	Total		37	$	253,226	$	122	$	5,748	$	5,870

		2013
						Continuous Unrealized
						Losses Existing for:
		Number								Total
		of				Less than		More than		Unrealized
(Dollars in thousands)		securities		Fair Value		12 months		12 months		Losses
U.S. government agencies			15	$	139,466	$	8,222	$	-	$	8,222
State and municipal			12		11,680		156		-		156
Mortgage-backed			30		169,377		6,865		127		6,992
Trust preferred			1		1,413		-		288		288
	Total		58	$	321,936	$	15,243	$	415	$	15,658

		2014
						Continuous Unrealized
						Losses Existing for:
		Number								Total
		of				Less than		More than		Unrealized
(Dollars in thousands)		securities		Fair Value		12 months		12 months		Losses
U.S. government agencies			8	$	62,778	$	-	$	1,734	$	1,734
State and municipal			41		32,027		18		307		325
	Total		49	$	94,805	$	18	$	2,041	$	2,059

		2013
						Continuous Unrealized
						Losses Existing for:
		Number								Total
		of				Less than		More than		Unrealized
(Dollars in thousands)		securities		Fair Value		12 months		12 months		Losses
U.S. government agencies			8	$	59,678	$	4,827	$	-	$	4,827
State and municipal			113		94,243		5,366		387		5,753
	Total		121	$	153,921	$	10,193	$	387	$	10,580

Amortized Cost and Estimated Fair Values of Investment Securities

		2014				2013
				Estimated				Estimated
		Amortized		Fair		Amortized		Fair
(In thousands)		Cost		Value		Cost		Value
Due in one year or less		$	691	$	714	$	2,080	$	2,085
Due after one year through five years			47,900		49,385		12,766		13,285
Due after five years through ten years			332,841		340,852		392,389		392,339
Due after ten years			276,647		280,535		342,732		342,852
	Total debt securities available-for-sale	$	658,079	$	671,486	$	749,967	$	750,561

		2014				2013
				Estimated				Estimated
		Amortized		Fair		Amortized		Fair
(In thousands)		Cost		Value		Cost		Value
Due in one year or less		$	1,690	$	1,694	$	1,720	$	1,725
Due after one year through five years			6,763		6,938		3,249		3,269
Due after five years through ten years			163,252		164,787		139,033		135,074
Due after ten years			48,268		48,841		80,636		75,939
	Total debt securities held-to-maturity	$	219,973	$	222,260	$	224,638	$	216,007

Amortized Cost and Estimated Fair Values of Investments Held-To-Maturity

		2014								2013
				Gross		Gross		Estimated				Gross		Gross		Estimated
		Amortized		Unrealized		Unrealized		Fair		Amortized		Unrealized		Unrealized		Fair
(In thousands)		Cost		Gains		Losses		Value		Cost		Gains		Losses		Value
U.S. government agencies		$	64,512	$	-	$	(1,734)	$	62,778	$	64,505	$	-	$	(4,827)	$	59,678
State and municipal			155,261		4,321		(325)		159,257		159,889		1,920		(5,753)		156,056
Mortgage-backed			200		25		-		225		244		29		-		273
	Total investments held-to-maturity	$	219,973	$	4,346	$	(2,059)	$	222,260	$	224,638	$	1,949	$	(10,580)	$	216,007

Other Equity Securities

(In thousands)		2014		2013
Federal Reserve Bank stock		$	8,269	$	8,269
Federal Home Loan Bank of Atlanta stock			33,168		32,418
	Total equity securities	$	41,437	$	40,687

Gross Realized Gains and Losses on All Investments

(In thousands)		2014		2013		2012
Gross realized gains from sales of investments available-for-sale		$	-	$	-	$	56
Gross realized losses from sales of investments available-for-sale			-		(3)		-
Net gains or (losses) from calls of investments available-for-sale			2		44		294
Net gains or (losses) from calls of investments held-to-maturity			3		74		109
	Net securities gains	$	5	$	115	$	459

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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- Definition

Tabular disclosure of all investments in certain debt and equity securities for which the entity has the positive intent and ability to hold until maturity.

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- Definition

Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income.

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