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SECURITIES (Tables)
 12 Months Ended
Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]  
Schedule of Securities
The amortized cost, gross unrealized losses and gains and estimated fair value of securities at December 31, 2015 and 2014 are summarized as follows (in thousands):
 
December 31, 2015
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
Trading:
 
 
 
 
 
 
 
U.S. Government and agency obligations
$
1,230

 
 
 
 
 
$
1,368

Municipal bonds
332

 
 
 
 
 
341

Corporate bonds
25,063

 
 
 
 
 
18,699

Mortgage-backed or related securities
12,705

 
 
 
 
 
13,663

Equity securities
14

 
 
 
 
 
63

 
$
39,344

 
 
 
 
 
$
34,134

Available-for-Sale:
 
 
 
 
 
 
 
U.S. Government and agency obligations
$
30,211

 
$
213

 
$
(193
)
 
$
30,231

Municipal bonds
142,898

 
853

 
(432
)
 
143,319

Corporate bonds
15,937

 
56

 
(12
)
 
15,981

Mortgage-backed or related securities
919,318

 
4,056

 
(5,115
)
 
918,259

Asset-backed securities
31,288

 
—

 
(603
)
 
30,685

Equity securities
88

 
10

 
—

 
98

 
$
1,139,740

 
$
5,188

 
$
(6,355
)
 
$
1,138,573

Held-to-Maturity:
 
 
 
 
 
 
 
U.S. Government and agency obligations
$
1,106

 
$
5

 
$
—

 
$
1,111

Municipal bonds:
162,778

 
6,219

 
(191
)
 
168,806

Corporate bonds
4,273

 
—

 
—

 
4,273

Mortgage-backed or related securities
52,509

 
253

 
(325
)
 
52,437

 
$
220,666

 
$
6,477

 
$
(516
)
 
$
226,627

 
December 31, 2014
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
Trading:
 
 
 
 
 
 
 
U.S. Government and agency obligations
$
1,340

 
 
 
 
 
$
1,505

Municipal bonds
1,405

 
 
 
 
 
1,440

Corporate bonds
27,995

 
 
 
 
 
19,118

Mortgage-backed or related securities
16,726

 
 
 
 
 
18,136

Equity securities
14

 
 
 
 
 
59

 
$
47,480

 
 
 
 
 
$
40,258

Available-for-Sale:
 
 
 
 
 
 
 
U.S. Government and agency obligations
$
29,973

 
$
8

 
$
(211
)
 
$
29,770

Municipal bonds
49,959

 
190

 
(121
)
 
50,028

Corporate bonds
5,000

 
18

 
—

 
5,018

Mortgage-backed or related securities
300,979

 
1,429

 
(1,598
)
 
300,810

Asset-backed securities
25,513

 
167

 
(285
)
 
25,395

 
$
411,424

 
$
1,812

 
$
(2,215
)
 
$
411,021

Held-to-Maturity:
 
 
 
 
 
 
 
U.S. Government and agency obligations
$
2,146

 
$
—

 
$
(19
)
 
$
2,127

Municipal bonds:
119,951

 
6,319

 
(48
)
 
126,222

Corporate bonds
1,800

 
—

 
—

 
1,800

Mortgage-backed or related securities
7,361

 
105

 
(7
)
 
7,459

 
$
131,258

 
$
6,424

 
$
(74
)
 
$
137,608
Schedule of Securities with Continuous Loss Position
At December 31, 2015 and 2014, the gross unrealized losses and the fair value for securities available-for-sale and held-to-maturity aggregated by the length of time that individual securities have been in a continuous unrealized loss position was as follows (in thousands):
 
December 31, 2015
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
Available-for-Sale:
 
 
 
 
 
 
 
 
 
 
 
U.S. Government and agency obligations
$
8,707

 
$
(97
)
 
$
10,489

 
$
(96
)
 
$
19,196

 
$
(193
)
Municipal bonds
69,848

 
(426
)
 
905

 
(6
)
 
70,753

 
(432
)
Corporate bonds
5,153

 
(12
)
 
—

 
—

 
5,153

 
(12
)
Mortgage-backed or related securities
533,143

 
(4,380
)
 
68,562

 
(735
)
 
601,705

 
(5,115
)
Asset-backed securities
20,893

 
(355
)
 
9,792

 
(248
)
 
30,685

 
(603
)
 
$
637,744

 
$
(5,270
)
 
$
89,748

 
$
(1,085
)
 
$
727,492

 
$
(6,355
)
Held-to-Maturity:
 
 
 
 
 
 
 
 
 
 
 
Municipal bonds
$
28,545

 
$
(188
)
 
$
254

 
$
(3
)
 
$
28,799

 
$
(191
)
Corporate bonds
—

 
—

 
—

 
—

 
—

 
—

Mortgage-backed or related securities
34,493

 
(323
)
 
255

 
(2
)
 
34,748

 
(325
)
 
$
63,038

 
$
(511
)
 
$
509

 
$
(5
)
 
$
63,547

 
$
(516
)
 
 
December 31, 2014
 
Less Than 12 Months
 
12 Months or More
 
Total
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
Available-for-Sale:
 
 
 
 
 
 
 
 
 
 
 
U.S. Government and agency obligations
$
15,983

 
$
(58
)
 
$
9,847

 
$
(153
)
 
$
25,830

 
$
(211
)
Municipal bonds
16,322

 
(61
)
 
7,129

 
(60
)
 
23,451

 
(121
)
Mortgage-backed or related securities
91,046

 
(236
)
 
107,266

 
(1,362
)
 
198,312

 
(1,598
)
Asset-backed securities
—

 
—

 
9,765

 
(285
)
 
9,765

 
(285
)
 
$
123,351

 
$
(355
)
 
$
134,007

 
$
(1,860
)
 
$
257,358

 
$
(2,215
)
Held-to-Maturity:
 
 
 
 
 
 
 
 
 
 
 
U.S. Government and agency obligations
$
—

 
$
—

 
$
1,127

 
$
(19
)
 
$
1,127

 
$
(19
)
Municipal bonds
9,821

 
(44
)
 
592

 
(4
)
 
10,413

 
(48
)
Mortgage-backed or related securities
1,018

 
(7
)
 
—

 
—

 
1,018

 
(7
)
 
$
10,839

 
$
(51
)
 
$
1,719

 
$
(23
)
 
$
12,558

 
$
(74
)
Schedule of Securities by Contractual Maturity Date
The amortized cost and estimated fair value of securities at December 31, 2015, by contractual maturity, are shown below (in thousands).  Expected maturities will differ from contractual maturities because some securities may be called or prepaid with or without call or prepayment penalties.
 
December 31, 2015
 
Trading
 
Available-for-Sale
 
Held-to-Maturity
 
Amortized Cost
 
Fair Value
 
Amortized Cost
 
Fair Value
 
Amortized Cost
 
Fair Value
Maturing in one year or less
$
—

 
$
—

 
$
12,522

 
$
12,477

 
$
4,986

 
$
5,035

Maturing after one year through five years
8,790

 
9,361

 
278,205

 
277,056

 
13,707

 
13,810

Maturing after five years through ten years
3,480

 
3,823

 
185,919

 
184,948

 
83,478

 
84,158

Maturing after ten years through twenty years
1,997

 
2,188

 
338,069

 
338,362

 
99,614

 
104,460

Maturing after twenty years
25,063

 
18,699

 
324,937

 
325,632

 
18,881

 
19,164

 
39,330

 
34,071

 
1,139,652

 
1,138,475

 
220,666

 
226,627

Equity securities
14

 
63

 
88

 
98

 
 
 
 
 
$
39,344

 
$
34,134

 
$
1,139,740

 
$
1,138,573

 
$
220,666

 
$
226,627
Schedule of Pledged Securities
The following table presents, as of December 31, 2015, investment securities which were pledged to secure borrowings, public deposits or other obligations as permitted or required by law (in thousands):
 
Carrying Value
 
Amortized Cost
 
Fair Value
Purpose or beneficiary:
 
 
 
 
 
State and local governments public deposits
$
204,894

 
$
201,149

 
$
210,422

Interest rate swap counterparties
13,687

 
13,284

 
13,687

Repurchase transaction accounts
110,140

 
109,956

 
110,146

Other
1,970

 
1,895

 
1,970

Total pledged securities
$
330,691

 
$
326,284

 
$
336,225