Investment Securities (Tables)

9 Months Ended

Sep. 30, 2014

Amortized cost and fair value of the securities available for sale

The amortized cost and fair value of the securities available for sale are as follows:

	September 30, 2014
(dollars in thousands)				Gross		Gross
	Amortized			Unrealized		Unrealized		Fair
	Cost			Gains		Losses		Value

U.S. government sponsored enterprises		$	83,805		17		735		83,087
State and political subdivisions			2,681		88		-		2,769
Mortgage backed securities and collateralized mortgage obligations - residential			530,688		704		7,613		523,779
Corporate bonds			1,403		-		2		1,401
Small Business Administration- guaranteed participation securities			105,430		-		4,939		100,491
Mortgage backed securities and collateralized mortgage obligations - commercial			10,765		-		348		10,417
Other			650		-		6		644
Total debt securities			735,422		809		13,643		722,588
Equity securities			35		-		-		35
Total securities available for sale		$	735,457		809		13,643		722,623

	December 31, 2013
(dollars in thousands)			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value

U.S. government sponsored enterprises	$	200,531		22		1,724		198,829
State and political subdivisions		7,623		135		-		7,758
Mortgage backed securities and collateralized mortgage obligations - residential		552,230		267		20,048		532,449
Corporate bonds		10,429		43		1		10,471
Small Business Administration- guaranteed participation securities		111,383		-		8,354		103,029
Mortgage backed securities and collateralized mortgage obligations - commercial		10,965		-		407		10,558
Other		650		-		-		650
Total debt securities		893,811		467		30,534		863,744
Equity securities		10		-		-		10
Total securities available for sale	$	893,821		467		30,534		863,754

Investment [Line Items]

Proceeds from sales and calls of securities available for sale, gross realized gains and gross realized losses

The proceeds from sales and calls of securities available for sale, gross realized gains and gross realized losses from sales and calls during the three months and nine months ended September 30, 2014 and 2013 are as follows:

(dollars in thousands)	Three months ended September 30,				Nine months ended September 30,
	2014		2013		2014		2013

Proceeds from sales	$	42,228		-	$	42,228		118,560
Proceeds from calls		45,648		31,704		226,271		237,118
Gross realized gains		376		-		382		1,514
Gross realized losses		-		-		-		80

Amortized cost and fair value of the held to maturity securities

The amortized cost and fair value of the held to maturity securities are as follows:

	September 30, 2014
(dollars in thousands)				Gross		Gross
	Amortized			Unrecognized		Unrecognized		Fair
	Cost			Gains		Losses		Value

Mortgage backed securities and collateralized mortgage obligations - residential		$	64,223		3,333		-		67,556
Corporate bonds			9,956		1,181		-		11,137
Total held to maturity		$	74,179		4,514		-		78,693

	December 31, 2013
(dollars in thousands)			Gross		Gross
	Amortized		Unrecognized		Unrecognized		Fair
	Cost		Gains		Losses		Value

Mortgage backed securities and collateralized mortgage obligations - residential	$	76,270		2,744		138		78,876
Corporate bonds		9,945		1,484		-		11,429
Total held to maturity	$	86,215		4,228		138		90,305

Securities available for sale [Member]

Investment [Line Items]

Debt securities based on the securities final maturity

The following table distributes the debt securities included in the available for sale portfolio as of September 30, 2014, based on the securities’ final maturity (mortgage backed securities and collateralized mortgage obligations are stated using an estimated average life):

(dollars in thousands)	Amortized		Fair
	Cost		Value
Due in one year or less	$	2,195		2,210
Due in one year through five years		512,543		507,031
Due after five years through ten years		220,164		212,822
Due after ten years		520		525
	$	735,422		722,588

Gross unrealized losses on investment securities and the related fair values aggregated by the length of time that individual securities have been in an unrealized loss position

Gross unrealized losses on securities available for sale and the related fair values aggregated by the length of time that individual securities have been in an unrealized loss position, were as follows:

	September 30, 2014
(dollars in thousands)	Less than					12 months
	12 months					or more				Total
				Gross				Gross				Gross
	Fair			Unreal.		Fair		Unreal.		Fair		Unreal.
	Value			Loss		Value		Loss		Value		Loss
U.S. government sponsored enterprises		$	27,422		98		54,863		637		82,285		735
Mortgage backed securities and collateralized mortgage obligations - residential			81,269		630		339,676		6,983		420,945		7,613
Corporate bonds			501		2		-		-		501		2
Small Business Administration- guaranteed participation securities			-		-		100,491		4,939		100,491		4,939
Mortgage backed securities and collateralized mortgage obligations - commercial			-		-		10,417		348		10,417		348
Other			594		6		-		-		594		6

Total		$	109,786		736		505,447		12,907		615,233		13,643

	December 31, 2013
(dollars in thousands)	Less than				12 months
	12 months				or more				Total
			Gross				Gross				Gross
	Fair		Unreal.		Fair		Unreal.		Fair		Unreal.
	Value		Loss		Value		Loss		Value		Loss

U.S. government sponsored enterprises	$	198,023		1,724		-		-		198,023		1,724
Mortgage backed securities and collateralized mortgage obligations - residential		466,056		17,698		54,835		2,350		520,891		20,048
Corporate bonds		902		1		-		-		902		1
Small Business Administration- guaranteed participation securities		103,029		8,354		-		-		103,029		8,354
Mortgage backed securities and collateralized mortgage obligations - commercial		10,558		407		-		-		10,558		407

Total	$	778,568		28,184		54,835		2,350		833,403		30,534

Held to maturity securities [Member]

Investment [Line Items]

Debt securities based on the securities final maturity

The following table distributes the debt securities included in the held to maturity portfolio as of September 30, 2014, based on the securities’ final maturity (mortgage backed securities and collateralized mortgage obligations are stated using an estimated average life):

(dollars in thousands)	Amortized		Fair
	Cost		Value
Due in one year through five years		72,733		77,152
Due in five years through ten years		1,446		1,541
	$	74,179		78,693

Gross unrealized losses on investment securities and the related fair values aggregated by the length of time that individual securities have been in an unrealized loss position

Gross unrecognized losses on held to maturity securities and the related fair values aggregated by the length of time that individual securities have been in an unrecognized loss position as of December 31, 2013 were as follows:

December 31, 2013

(dollars in thousands)

Less than

12 months

or more

Total

Gross

Fair

Unrec.

Fair

Unrec.

Fair

Unrec.

Value

Loss

Value

Loss

Value

Loss

Mortgage backed securities and collateralized mortgage obligations - residential

27,091

138

27,091

138

Total

27,091

138

27,091

138

- Definition

Tabular disclosure of all investments in certain debt and equity securities for which the entity has the positive intent and ability to hold until maturity.

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