Investments (Tables)

3 Months Ended

Mar. 31, 2015

Investments [Abstract]

Schedule of Available-for-sale Securities Reconciliation

	March 31, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
US Government agencies	$	24,805	$	411	$	(14	)	$	25,202
Mortgage-backed securities		385,369		4,298		(1,391	)		388,276
State and poltical subdivisions		95,483		3,379		(145	)		98,717
Other securities		1,209		1,062		-			2,271
Total investment securities	$	506,866	$	9,150	$	(1,550	)	$	514,466

	December 31, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
US Government agencies	$	26,959	$	334	$	(23	)	$	27,270
Mortgage-backed securities		378,339		4,299		(1,196	)		381,442
State and political subdivisons		98,056		3,093		(200	)		100,949
Other securities		1,210		1,012		-			2,222
Total investment securities	$	504,564	$	8,738	$	(1,419	)	$	511,883

Information Pertaining to Investment Securities Aggregated by Investment Category and Length of Time that Individual Securities in a Continuous Loss Position

(dollars in thousands, unaudited)	March 31, 2015
	Less than twelve months					Twelve months or more
	Gross					Gross
	Unrealized					Unrealized
	Losses			Fair Value		Losses			Fair Value
US Government agencies	$	(14	)	$	757	$	-		$	-
Mortgage-backed securities		(978	)		112,985		(413	)		45,329
State and political subdivisions		(59	)		5,383		(86	)		5,452
Other securities		-			-		-			-
Total	$	(1,051	)	$	119,125	$	(499	)	$	50,781

	December 31, 2014
	Less than twelve months					Twelve months or more
	Gross					Gross
	Unrealized					Unrealized
	Losses			Fair Value		Losses			Fair Value
US Government agencies	$	(23	)	$	3,485	$	-		$	-
Mortgage-backed securities		(564	)		84,004		(632	)		51,982
State and political subdivisions		(31	)		7,738		(169	)		9,045
Other securities		-			-		-			-
Total	$	(618	)	$	95,227	$	(801	)	$	61,027

Realized Gain (Loss) on Investments

	Three months ended March 31,
		2015			2014
Proceeds from sales, calls and maturities of securities available for sale	$	20,154		$	4,665
Gross gains on sales, calls and maturities of securities available for sale	$	215		$	104
Gross losses on sales, calls and maturities of securities available for sale		(199	)		-
Net gains on sale of securities available for sale	$	16		$	104

Investments Classified by Contractual Maturity Date

Estimated Fair Value of Contractual Maturities
(dollars in thousands, unaudited)	March 31, 2015
	Amortized Cost		Fair Value
Maturing within one year	$	572	$	581
Maturing after one year through five years		216,346		219,788
Maturing after five years through ten years		93,818		95,802
Maturing after ten years		51,612		52,960
Investment securities not due at a single maturity date:
U.S Government agencies collateralized by mortgage obligations		143,309		143,064
Other securities		1,209		2,271
	$	506,866	$	514,466

	December 31, 2014
	Amortized Cost		Fair Value
Maturing within one year	$	686	$	694
Maturing after one year through five years		222,081		225,415
Maturing after five years through ten years		97,949		99,583
Maturing after ten years		54,531		55,705
Investment securities not due at a single maturity date:
U.S Government agencies collateralized by mortgage obligations		128,107		128,264
Other securities		1,210		2,222
	$	504,564	$	511,883

Summary of amortized cost and fair values of general obligation and revenue bonds

dollars in thousands, unaudited	March 31, 2015				December 31, 2014
	Amortized		Fair Market		Amortized		Fair Market
General obligation bonds	Cost		Value		Cost		Value
State of issuance
California	$	20,136	$	21,484	$	20,078	$	21,288
Texas		13,472		13,712		14,489		14,675
Illinois		8,608		8,784		8,272		8,394
Ohio		7,870		7,999		7,456		7,555
Washington		5,951		6,152		5,966		6,126
Utah		956		985		956		984
Other states		22,359		22,994		21,253		21,832
Total General Obligation Bonds		79,352		82,110		78,470		80,854
Revenue bonds
State of issuance
Utah		4,167		4,240		3,769		3,834
Texas		3,768		3,915		3,273		3,387
California		1,605		1,650		2,174		2,233
Washington		1,165		1,194		1,167		1,197
Ohio		320		328		321		332
Illinois		293		298		294		294
Other states		4,813		4,982		8,588		8,818
Total Revenue Bonds		16,131		16,607		19,586		20,095
Total Obligations of States and Political Subdivisions	$	95,483	$	98,717	$	98,056	$	100,949

Revenue Bonds by Type
dollars in thousands, unaudited	March 31, 2015				December 31, 2014
		Amortized		Fair Market		Amortized		Fair Market
Revenue bonds		Cost		Value		Cost		Value
Revenue source:
Water	$	3,327	$	3,437	$	7,100	$	7,278
College & University		3,220		3,356		2,723		2,834
Sales Tax		2,359		2,415		2,361		2,405
Electric & Power		1,878		1,914		1,880		1,914
Lease		1,356		1,370		1,356		1,362
Other sources		3,991		4,115		4,166		4,302
Total Revenue Bonds	$	16,131	$	16,607	$	19,586	$	20,095