Securities (Tables)

3 Months Ended

Mar. 31, 2015

Securities

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

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

	Available for Sale
			Gross		Gross
	Amortized		Unrealized		Unrealized
March 31, 2015	Cost		Gains		Losses			Fair Value
U.S. Treasury securities	$	19,386	$	400	$	(6	)	$	19,780
U.S. government agencies:
Bonds	463,619		2,164		(1,804		)	463,979
Residential mortgage-backed securities	54,374		1,612		(6		)	55,980
Collateralized mortgage obligations	79,050		160		(1,515		)	77,695
Corporate debt securities	89,076		5,748		(24		)	94,800
States and political subdivisions	130,764		2,200		(699		)	132,265
Commercial mortgage-backed securities	593		50		—			643
Equity securities	13,568		505		(3		)	14,070
Totals	$	850,430	$	12,839	$	(4,057	)	$	859,212

	Available for Sale
			Gross		Gross
	Amortized		Unrealized		Unrealized
December 31, 2014	Cost		Gains		Losses			Fair Value
U.S. Treasury securities	$	19,382	$	264	$	(33	)	$	19,613
U.S. government agencies:
Bonds	522,008		1,749		(7,516		)	516,241
Residential mortgage-backed securities	51,363		1,672		(137		)	52,898
Collateralized mortgage obligations	89,291		133		(2,300		)	87,124
Corporate debt securities	93,406		5,125		(59		)	98,472
States and political subdivisions	135,419		2,083		(717		)	136,785
Commercial mortgage-backed securities	593		47		—			640
Equity securities	13,293		469		—			13,762
Totals	$	924,755	$	11,542	$	(10,762	)	$	925,535

Summary of amortized cost and fair value of held to maturity securities

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

	Held to Maturity
			Gross		Gross
	Amortized		Unrealized		Unrealized
March 31, 2015	Cost		Gains		Losses		Fair Value
U.S. Treasury securities	$	25,006	$	—	$	—	$	25,006
U.S. government agencies:
Bonds	22,348		192		—		22,540
Residential mortgage-backed securities	28,907		793		—		29,700
Collateralized mortgage obligations	98,767		1,188		—		99,955
States and political subdivisions	8,764		67		—		8,831
Totals	$	183,792	$	2,240	$	—	$	186,032

	Held to Maturity
			Gross		Gross
	Amortized		Unrealized		Unrealized
December 31, 2014	Cost		Gains		Losses			Fair Value
U.S. Treasury securities	$	25,008	$	—	$	(6	)	$	25,002
U.S. government agencies:
Residential mortgage-backed securities	29,782		528		—			30,310
Collateralized mortgage obligations	57,328		—		(430		)	56,898
States and political subdivisions	6,091		47		(3		)	6,135
Totals	$	118,209	$	575	$	(439	)	$	118,345

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

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

	March 31, 2015					December 31, 2014
	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	$	3,856	$	6	4	$	7,703	$	27
Unrealized loss for twelve months or longer	—	—		—		1	1,706		6
	3	3,856		6		5	9,409		33
U.S. government agencies:
Bonds:
Unrealized loss for less than twelve months	11	192,178		920		3	34,847		153
Unrealized loss for twelve months or longer	3	44,460		884		22	373,035		7,363
	14	236,638		1,804		25	407,882		7,516
Residential mortgage-backed securities:
Unrealized loss for less than twelve months	1	1,055		2		—	—		—
Unrealized loss for twelve months or longer	1	1,984		4		4	11,056		137
	2	3,039		6		4	11,056		137
Collateralized mortgage obligations:
Unrealized loss for less than twelve months	3	3,421		6		3	7,141		40
Unrealized loss for twelve months or longer	7	56,820		1,509		8	61,108		2,260
	10	60,241		1,515		11	68,249		2,300
Corporate debt securities:
Unrealized loss for less than twelve months	—	—		—		—	—		—
Unrealized loss for twelve months or longer	1	1,973		24		1	1,939		59
	1	1,973		24		1	1,939		59
States and political subdivisions:
Unrealized loss for less than twelve months	9	6,282		39		7	4,432		7
Unrealized loss for twelve months or longer	60	40,631		660		81	54,178		710
	69	46,913		699		88	58,610		717
Equity securities:
Unrealized loss for less than twelve months	1	111		3		—	—		—
Unrealized loss for twelve months or longer	—	—		—		—	—		—
	1	111		3		—	—		—
Total available for sale:
Unrealized loss for less than twelve months	28	206,903		976		17	54,123		227
Unrealized loss for twelve months or longer	72	145,868		3,081		117	503,022		10,535
	100	$	352,771	$	4,057	134	$	557,145	$	10,762

Schedule of information regarding held to maturity securities that were in an unrealized loss position

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

	March 31, 2015					December 31, 2014
	Number of			Unrealized		Number of			Unrealized
	Securities	Fair Value		Losses		Securities	Fair Value		Losses
Held to Maturity
U.S. Treasury securities:
Unrealized loss for less than twelve months	—	$	—	$	—	1	$	25,002	$	6
Unrealized loss for twelve months or longer	—	—		—		—	—		—
	—	—		—		1	25,002		6
U.S. government agencies:
Collateralized mortgage obligations:
Unrealized loss for less than twelve months	—	—		—		2	56,898		430
Unrealized loss for twelve months or longer	—	—		—		—	—		—
	—	—		—		2	56,898		430
States and political subdivisions:
Unrealized loss for less than twelve months	—	—		—		4	1,899		3
Unrealized loss for twelve months or longer	—	—		—		—	—		—
	—	—		—		4	1,899		3
Total held to maturity:
Unrealized loss for less than twelve months	—	—		—		7	83,799		439
Unrealized loss for twelve months or longer	—	—		—		—	—		—
	—	$	—	$	—	7	$	83,799	$	439

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, at March 31, 2015 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	$	25,350	$	25,656	$	26,399	$	26,403
Due after one year through five years	70,106		73,888		23,657		23,861
Due after five years through ten years	64,290		68,384		1,187		1,191
Due after ten years	543,099		542,896		4,875		4,922
	702,845		710,824		56,118		56,377
Residential mortgage-backed securities	54,374		55,980		28,907		29,700
Collateralized mortgage obligations	79,050		77,695		98,767		99,955
Commercial mortgage-backed securities	593		643		—		—
	$	836,862	$	845,142	$	183,792	$	186,032