INVESTMENT SECURITIES (Tables)

6 Months Ended

Jun. 30, 2017

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Estimated Fair Value of Investment Securities Available for Sale

The amortized cost and estimated fair value of investment securities available for sale, along with unrealized gains and losses, are summarized as follows:

			Gross		Gross		Estimated
	Amortized		Unrealized		Unrealized		Fair
(dollars in thousands)	Cost		Gains		Losses		Value
June 30, 2017
U.S. government sponsored agencies	$	1,000	$	9	$	-	$	1,009
State, county and municipal securities		142,028		3,166		(86)		145,108
Corporate debt securities		47,252		552		(192)		47,612
Mortgage-backed securities		626,400		2,828		(4,264)		624,964
Total debt securities	$	816,680	$	6,555	$	(4,542)	$	818,693
December 31, 2016
U.S. government sponsored agencies	$	999	$	21	$	-	$	1,020
State, county and municipal securities		149,899		2,605		(469)		152,035
Corporate debt securities		32,375		167		(370)		32,172
Mortgage-backed securities		641,362		2,700		(6,554)		637,508
Total debt securities	$	824,635	$	5,493	$	(7,393)	$	822,735

Amortized Cost and Fair Value of Available for Sale Securities by Contractual Maturity

The amortized cost and fair value of available-for-sale securities at June 30, 2017 by contractual maturity are summarized in the table below. Expected maturities for mortgage-backed securities may differ from contractual maturities because in certain cases borrowers can prepay obligations without prepayment penalties. Therefore, these securities are not included in the following maturity summary.

			Estimated
	Amortized		Fair
(dollars in thousands)	Cost		Value
Due in one year or less	$	15,505	$	15,660
Due from one year to five years		56,978		57,730
Due from five to ten years		73,838		75,578
Due after ten years		43,959		44,761
Mortgage-backed securities		626,400		624,964
	$	816,680	$	818,693

Schedule of Gross Unrealized Losses and Fair Value of Securities

The following table details the gross unrealized losses and fair value of securities aggregated by category and duration of continuous unrealized loss position at June 30, 2017 and December 31, 2016.

	Less Than 12 Months				12 Months or More				Total
	Estimated				Estimated				Estimated
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(dollars in thousands)	Value		Losses		Value		Losses		Value		Losses
June 30, 2017
U.S. government sponsored agencies	$	-	$	-	$	-	$	-	$	-	$	-
State, county and municipal securities		13,920		(86)		-		-		13,920		(86)
Corporate debt securities		18,966		(182)		490		(10)		19,456		(192)
Mortgage-backed securities		356,690		(3,696)		26,082		(568)		382,772		(4,264)
Total debt securities	$	389,576	$	(3,964)	$	26,572	$	(578)	$	416,148	$	(4,542)
December 31, 2016
U.S. government sponsored agencies	$	-	$	-	$	-	$	-	$	-	$	-
State, county and municipal securities		47,647		(469)		-		-		47,647		(469)
Corporate debt securities		18,377		(363)		493		(7)		18,870		(370)
Mortgage-backed securities		414,300		(6,177)		11,791		(377)		426,091		(6,554)
Total debt securities	$	480,324	$	(7,009)	$	12,284	$	(384)	$	492,608	$	(7,393)

Gross Realized Gains And Losses On Sales Of Available For Sale Securities

The following table is a summary of sales activities in the Company’s investment securities available for sale for the six months ended June 30, 2017 and 2016:

	June 30,		June 30,
(dollars in thousands)	2017		2016
Gross gains on sales of securities	$	38	$	313
Gross losses on sales of securities		(1)		(219)
Net realized gains on sales of securities available for sale	$	37	$	94
Sales proceeds	$	3,090	$	46,731