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INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2014

Schedule of Investments [Line Items]

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

The following table provides the activity of OTTI on investment securities due to credit losses recognized in earnings for the period indicated:



(In thousands)		OTTI Losses
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 September 30, 2014	$	531

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

The amortized cost and estimated fair values of investments held-to-maturity at the dates indicated are presented in the following table:



		September 30, 2014								December 31, 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	$	64,510	$	-	$	(1,984)	$	62,526	$	64,505	$	-	$	(4,827)	$	59,678
State and municipal		156,971		4,121		(724)		160,368		159,889		1,920		(5,753)		156,056
Mortgage-backed		209		27		-		236		244		29		-		273
Total investments held-to-maturity	$	221,690	$	4,148	$	(2,708)	$	223,130	$	224,638	$	1,949	$	(10,580)	$	216,007

Other Equity Securities

Equity securities

Other equity securities at the dates indicated are presented in the following table:



(In thousands)		September 30, 2014		December 31, 2013
Federal Reserve Bank stock	$	8,269	$	8,269
Federal Home Loan Bank of Atlanta stock		28,803		32,418
Total equity securities	$	37,072	$	40,687

Available-for-Sale Securities [Member]

Schedule of Investments [Line Items]

Amortized Cost and Estimated Fair Values of Investments Available-for-sale

The amortized cost and estimated fair values of investments available-for-sale at the dates indicated are presented in the following table:



		September 30, 2014								December 31, 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	$	144,473	$	-	$	(3,757)	$	140,716	$	147,688	$	-	$	(8,222)	$	139,466
State and municipal		157,854		9,731		-		167,585		159,524		6,060		(156)		165,428
Mortgage-backed		374,326		9,995		(4,417)		379,904		439,054		10,188		(6,992)		442,250
Corporate debt		2,000		2		-		2,002		2,000		4		-		2,004
Trust preferred		1,349		-		(172)		1,177		1,701		-		(288)		1,413
Total debt securities		680,002		19,728		(8,346)		691,384		749,967		16,252		(15,658)		750,561
Marketable equity securities		723		-		-		723		723		-		-		723
Total investments available-for-sale	$	680,725	$	19,728	$	(8,346)	$	692,107	$	750,690	$	16,252	$	(15,658)	$	751,284

Gross Unrealized Losses and Fair Value by Length of Time

Gross unrealized losses and fair value by length of time that the individual available-for-sale securities have been in an unrealized loss position at the dates indicated are presented in the following table:



	September 30, 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	$	140,716	$	-	$	3,757	$	3,757
Mortgage-backed	26		140,189		341		4,076		4,417
Trust preferred	1		1,177		-		172		172
Total	41	$	282,082	$	341	$	8,005	$	8,346

	December 31, 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

Amortized Cost and Estimated Fair Values of Investment Securities

The amortized cost and estimated fair values of debt securities available-for-sale by contractual maturity at the dates indicated are provided in the following table. The Company has allocated mortgage-backed securities into the four maturity groupings reflected in the following table using the expected average life of the individual securities based on statistics provided by independent third party industry sources. Expected maturities will differ from contractual maturities as borrowers may have the right to prepay obligations with or without prepayment penalties.



		September 30, 2014				December 31, 2013
				Estimated				Estimated
		Amortized		Fair		Amortized		Fair
(In thousands)		Cost		Value		Cost		Value
Due in one year or less	$	2,000	$	2,002	$	2,080	$	2,085
Due after one year through five years		43,148		44,500		12,766		13,285
Due after five years through ten years		341,678		348,934		392,389		392,339
Due after ten years		293,176		295,948		342,732		342,852
Total debt securities available for sale	$	680,002	$	691,384	$	749,967	$	750,561

Held-to-Maturity Securities [Member]

Schedule of Investments [Line Items]

Gross Unrealized Losses and Fair Value by Length of Time

Gross unrealized losses and fair value by length of time that the individual held-to-maturity securities have been in a continuous unrealized loss position at the dates indicated are presented in the following tables:



	September 30, 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	$	62,526	$	-	$	1,984	$	1,984
State and municipal	57		52,941		55		669		724
Total	65	$	115,467	$	55	$	2,653	$	2,708

	December 31, 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

The amortized cost and estimated fair values of debt securities held-to-maturity by contractual maturity at the dates indicated are reflected in the following table. Expected maturities will differ from contractual maturities as borrowers may have the right to prepay obligations with or without prepayment penalties.



		September 30, 2014				December 31, 2013
				Estimated				Estimated
		Amortized		Fair		Amortized		Fair
(In thousands)		Cost		Value		Cost		Value
Due in one year or less	$	3,099	$	3,112	$	1,720	$	1,725
Due after one year through five years		4,563		4,618		3,249		3,269
Due after five years through ten years		154,865		163,345		139,033		135,074
Due after ten years		59,163		52,055		80,636		75,939
Total debt securities held-to-maturity	$	221,690	$	223,130	$	224,638	$	216,007

- 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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