Securities (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2014

Dec. 31, 2013

Summary of amortized cost and fair value of securities, excluding trading securities

The amortized cost and fair value of securities, excluding trading securities, are summarized as follows (in thousands).

	Available for Sale
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses			Fair Value
June 30, 2014
U.S. Treasury securities	$	63,692	$	164	$	(34	)	$	63,822
U.S. government agencies:
Bonds	654,513		1,485		(20,899		)	635,099
Residential mortgage-backed securities	55,895		2,008		(399		)	57,504
Collateralized mortgage obligations	110,909		302		(4,081		)	107,130
Corporate debt securities	95,704		5,659		(108		)	101,255
States and political subdivisions	148,255		1,470		(1,894		)	147,831
Commercial mortgage-backed securities	597		68		—			665
Equity securities	20,396		4,257		—			24,653
Note receivable	43,883		6,038		—			49,921
Warrant	12,068		1,830		—			13,898
Totals	$	1,205,912	$	23,281	$	(27,415	)	$	1,201,778

	Available for Sale
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses			Fair Value
December 31, 2013
U.S. Treasury securities	$	43,684	$	82	$	(238	)	$	43,528
U.S. government agencies:
Bonds	717,909		550		(55,727		)	662,732
Residential mortgage-backed securities	59,936		735		(584		)	60,087
Collateralized mortgage obligations	124,502		349		(4,390		)	120,461
Corporate debt securities	72,376		4,610		(378		)	76,608
States and political subdivisions	162,955		388		(6,508		)	156,835
Commercial mortgage-backed securities	691		69		—			760
Equity securities	20,067		2,012		—			22,079
Note receivable	42,674		5,235		—			47,909
Warrant	12,068		76		—			12,144
Totals	$	1,256,862	$	14,106	$	(67,825	)	$	1,203,143

The amortized cost and fair value of available for sale securities are summarized as follows (in thousands).

			Gross		Gross
	Amortized		Unrealized		Unrealized
December 31, 2013	Cost		Gains		Losses			Fair Value
U.S. Treasury securities	$	43,684	$	82	$	(238	)	$	43,528
U.S. government agencies:
Bonds	717,909		550		(55,727		)	662,732
Residential mortgage-backed securities	59,936		735		(584		)	60,087
Collateralized mortgage obligations	124,502		349		(4,390		)	120,461
Corporate debt securities	72,376		4,610		(378		)	76,608
States and political subdivisions	162,955		388		(6,508		)	156,835
Commercial mortgage-backed securities	691		69		—			760
Equity securities	20,067		2,012		—			22,079
Note receivable	42,674		5,235		—			47,909
Warrant	12,068		76		—			12,144
Totals	$	1,256,862	$	14,106	$	(67,825	)	$	1,203,143

			Gross		Gross
	Amortized		Unrealized		Unrealized
December 31, 2012	Cost		Gains		Losses			Fair Value
U.S. Treasury securities	$	7,046	$	141	$	(2	)	$	7,185
U.S. government agencies:
Bonds	524,888		1,663		(314		)	526,237
Residential mortgage-backed securities	18,473		490		(70		)	18,893
Collateralized mortgage obligations	97,812		191		(79		)	97,924
Corporate debt securities	79,716		7,461		—			87,177
States and political subdivisions	177,701		196		(2,138		)	175,759
Commercial mortgage-backed securities	1,001		72		—			1,073
Equity securities	19,289		1,139		—			20,428
Note receivable	40,508		3,652		—			44,160
Warrant	12,068		49		—			12,117
Totals	$	978,502	$	15,054	$	(2,603	)	$	990,953

Schedule of information regarding available for sale securities that were in an unrealized loss position

Information regarding securities that were in an unrealized loss position is shown in the following tables (dollars in thousands).

	June 30, 2014					December 31, 2013
	Number of			Unrealized		Number of			Unrealized
	Securities	Fair Value		Losses		Securities	Fair Value		Losses
Available for Sale
U.S. treasury securities:
Unrealized loss for less than twelve months	3	$	6,396	$	26	6	$	12,748	$	238
Unrealized loss for twelve months or longer	1	2,010		8		—	—		—
	4	8,406		34		6	12,748		238
U.S. government agencies:
Bonds:
Unrealized loss for less than twelve months	1	9,987		13		35	526,817		45,274
Unrealized loss for twelve months or longer	31	487,164		20,886		5	90,931		10,453
	32	497,151		20,899		40	617,748		55,727
Residential mortgage-backed securities:
Unrealized loss for less than twelve months	1	1,593		58		2	2,194		54
Unrealized loss for twelve months or longer	3	9,356		341		3	9,309		530
	4	10,949		399		5	11,503		584
Collateralized mortgage obligations:
Unrealized loss for less than twelve months	2	13,128		24		7	84,054		4,320
Unrealized loss for twelve months or longer	8	68,301		4,057		2	4,995		70
	10	81,429		4,081		9	89,049		4,390
Corporate debt securities:
Unrealized loss for less than twelve months	—	—		—		7	10,754		378
Unrealized loss for twelve months or longer	1	1,889		108		—	—		—
	1	1,889		108		7	10,754		378
States and political subdivisions:
Unrealized loss for less than twelve months	12	8,846		49		46	30,245		669
Unrealized loss for twelve months or longer	119	80,555		1,845		150	96,882		5,839
	131	89,401		1,894		196	127,127		6,508
Total available for sale:
Unrealized loss for less than twelve months	19	39,950		170		103	666,812		50,933
Unrealized loss for twelve months or longer	163	649,275		27,245		160	202,117		16,892
	182	$	689,225	$	27,415	263	$	868,929	$	67,825

Information regarding available for sale securities that were in an unrealized loss position is shown in the following table (dollars in thousands).

	December 31, 2013					December 31, 2012
	Number of			Unrealized		Number of			Unrealized
	Securities	Fair Value		Losses		Securities	Fair Value		Losses
U.S. treasury securities:
Unrealized loss for less than twelve months	6	$	12,748	$	238	2	$	2,427	$	2
Unrealized loss for twelve months or longer	—	—		—		—	—		—
	6	12,748		238		2	2,427		2
U.S. government agencies:
Bonds:
Unrealized loss for less than twelve months	35	526,817		45,274		14	236,305		314
Unrealized loss for twelve months or longer	5	90,931		10,453		—	—		—
	40	617,748		55,727		14	236,305		314
Residential mortgage-backed securities:
Unrealized loss for less than twelve months	2	2,194		54		7	12,279		70
Unrealized loss for twelve months or longer	3	9,309		530		—	—		—
	5	11,503		584		7	12,279		70
Collateralized mortgage obligations:
Unrealized loss for less than twelve months	7	84,054		4,320		8	38,887		79
Unrealized loss for twelve months or longer	2	4,995		70		—	—		—
	9	89,049		4,390		8	38,887		79
Corporate debt securities:
Unrealized loss for less than twelve months	7	10,754		378		—	—		—
Unrealized loss for twelve months or longer	—	—		—		—	—		—
	7	10,754		378		—	—		—
States and political subdivisions:
Unrealized loss for less than twelve months	46	30,245		669		225	156,664		2,138
Unrealized loss for twelve months or longer	150	96,882		5,839		—	—		—
	196	127,127		6,508		225	156,664		2,138
Total available for sale:
Unrealized loss for less than twelve months	103	666,812		50,933		256	446,562		2,603
Unrealized loss for twelve months or longer	160	202,117		16,892		—	—		—
	263	$	868,929	$	67,825	256	$	446,562	$	2,603

Schedule of amortized cost and fair value of securities, excluding trading and equity available for sale securities and the available for sale warrant by contractual maturity

The amortized cost and fair value of securities, excluding trading and available for sale equity securities and the available for sale warrant, at June 30, 2014 are shown by contractual maturity below (in thousands).

	Available for Sale				Held to Maturity
	Amortized				Amortized
	Cost		Fair Value		Cost		Fair Value
Due in one year or less	$	133,456	$	133,611	$	—	$	—
Due after one year through five years	120,411		130,803		—		—
Due after five years through ten years	71,929		74,513		264		264
Due after ten years	680,251		659,001		4,142		4,129
	1,006,047		997,928		4,406		4,393

Residential mortgage-backed securities	55,895		57,504		31,048		31,431
Collateralized mortgage obligations	110,909		107,130		29,821		29,807
Commercial mortgage-backed securities	597		665		—		—
	$	1,173,448	$	1,163,227	$	65,275	$	65,631

The amortized cost and fair value of securities, excluding trading and available for sale equity securities and the available for sale warrant, at December 31, 2013 are shown by contractual maturity below (in thousands).

	Amortized
	Cost		Fair Value
Due in one year or less	$	125,804	$	125,881
Due after one year through five years	115,950		125,245
Due after five years through ten years	70,173		70,280
Due after ten years	727,671		666,206
	1,039,598		987,612

Residential mortgage-backed securities	59,936		60,087
Collateralized mortgage obligations	124,502		120,461
Commercial mortgage-backed securities	691		760
	$	1,224,727	$	1,168,920

- 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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