XML 25 R25.htm IDEA: XBRL DOCUMENT v2.4.0.8
INVESTMENTS (Tables)
 6 Months Ended
Jun. 30, 2014
Investments, Debt and Equity Securities [Abstract]  
Summary of Held-To-Maturity and Available-For-Sale Investment Securities
The following is a summary of held-to-maturity and available-for-sale investment securities as of June 30, 2014:
  
 
Held-to-maturity
 
Available-for-sale
(Dollars in thousands)
 
Amortized
cost
 
Unrealized
gain
 
Unrealized
loss
 
Market
value
 
Amortized
cost
 
Unrealized
gain
 
Unrealized
loss
 
Market
value
U.S. Treasuries
 
$
0

 
$
0

 
$
0

 
$
0

 
$
97

 
$
0

 
$
(2
)
 
$
95

Securities of U.S. government agencies and corporations
 
18,308

 
0

 
(262
)
 
18,046

 
9,615

 
0

 
(59
)
 
9,556

Mortgage-backed securities
 
832,159

 
6,772

 
(4,561
)
 
834,370

 
711,113

 
5,574

 
(18,641
)
 
698,046

Obligations of state and other political subdivisions
 
25,138

 
210

 
(724
)
 
24,624

 
30,469

 
41

 
(1,325
)
 
29,185

Asset-backed securities
 
0

 
0

 
0

 
0

 
57,881

 
122

 
(6
)
 
57,997

Other securities
 
23,897

 
856

 
(9
)
 
24,744

 
103,190

 
1,345

 
(1,699
)
 
102,836

Total
 
$
899,502

 
$
7,838

 
$
(5,556
)
 
$
901,784

 
$
912,365

 
$
7,082

 
$
(21,732
)
 
$
897,715


The following is a summary of held-to-maturity and available-for-sale investment securities as of December 31, 2013:
  
 
Held-to-maturity
 
Available-for-sale
(Dollars in thousands)
 
Amortized
cost
 
Unrealized
gain
 
Unrealized
loss
 
Market
value
 
Amortized
cost
 
Unrealized
gain
 
Unrealized
loss
 
Market
value
U.S. Treasuries
 
$
0

 
$
0

 
$
0

 
$
0

 
$
97

 
$
0

 
$
(7
)
 
$
90

Securities of U.S. government agencies and corporations
 
18,981

 
0

 
(791
)
 
18,190

 
9,980

 
0

 
(404
)
 
9,576

Mortgage-backed securities
 
775,025

 
1,337

 
(12,229
)
 
764,133

 
678,267

 
5,372

 
(28,593
)
 
655,046

Obligations of state and other political subdivisions
 
25,788

 
152

 
(1,039
)
 
24,901

 
33,410

 
10

 
(3,097
)
 
30,323

Asset-backed securities
 
0

 
0

 
0

 
0

 
114,209

 
1

 
(616
)
 
113,594

Other securities
 
17,478

 
283

 
0

 
17,761

 
109,089

 
262

 
(4,379
)
 
104,972

Total
 
$
837,272

 
$
1,772

 
$
(14,059
)
 
$
824,985

 
$
945,052

 
$
5,645

 
$
(37,096
)
 
$
913,601
Summary of Investment Securities by Estimated Maturity
The following table provides a summary of investment securities by estimated weighted average life as of June 30, 2014. Estimated lives on certain investment securities may differ from contractual maturities as issuers may have the right to call or prepay obligations with or without call or prepayment penalties.
 
Held-to-maturity
 
Available-for-sale
(Dollars in thousands)
Amortized
cost
 
Market
value
 
Amortized
cost
 
Market
value
Due in one year or less
$
143

 
$
145

 
$
2,224

 
$
2,280

Due after one year through five years
378,248

 
378,509

 
354,894

 
354,636

Due after five years through ten years
333,126

 
333,058

 
229,056

 
223,006

Due after ten years
187,985

 
190,072

 
326,191

 
317,793

Total
$
899,502

 
$
901,784

 
$
912,365

 
$
897,715
Age of Gross Unrealized Losses and Associated Fair Value by Investment Category
The following tables provide the fair value and gross unrealized losses on investment securities in an unrealized loss position, aggregated by investment category and the length of time the individual securities have been in a continuous loss position:
 
 
June 30, 2014
 
 
Less than 12 months
 
12 months or more
 
Total
(Dollars in thousands)
 
Fair
value
 
Unrealized
loss
 
Fair
value
 
Unrealized
loss
 
Fair
value
 
Unrealized
loss
Securities of U.S. government agencies and corporations
 
$
0

 
$
0

 
$
27,693

 
$
(115
)
 
$
27,693

 
$
(115
)
Mortgage-backed securities
 
183,542

 
(2,373
)
 
536,791

 
(19,929
)
 
720,333

 
(22,302
)
Obligations of state and other political subdivisions
 
12,731

 
(299
)
 
38,890

 
(1,783
)
 
51,621

 
(2,082
)
Asset-backed securities
 
0

 
0

 
7,583

 
(6
)
 
7,583

 
(6
)
Other securities
 
2,016

 
(14
)
 
31,000

 
(1,224
)
 
33,016

 
(1,238
)
Total
 
$
198,289

 
$
(2,686
)
 
$
641,957

 
$
(23,057
)
 
$
840,246

 
$
(25,743
)

 
 
December 31, 2013
 
 
Less than 12 months
 
12 months or more
 
Total
 
 
Fair
 
Unrealized
 
Fair
 
Unrealized
 
Fair
 
Unrealized
(Dollars in thousands)
 
value
 
loss
 
value
 
loss
 
value
 
loss
Securities of U.S. government agencies and corporations
 
$
27,851

 
$
(970
)
 
$
0

 
$
0

 
$
27,851

 
$
(970
)
Mortgage-backed securities
 
966,718

 
(32,432
)
 
108,929

 
(6,101
)
 
1,075,647

 
(38,533
)
Obligations of state and other political subdivisions
 
66,502

 
(5,294
)
 
1,935

 
(46
)
 
68,437

 
(5,340
)
Asset-backed securities
 
93,355

 
(616
)
 
0

 
0

 
93,355

 
(616
)
Other securities
 
54,866

 
(2,142
)
 
7,798

 
(561
)
 
62,664

 
(2,703
)
Total
 
$
1,209,292

 
$
(41,454
)
 
$
118,662

 
$
(6,708
)
 
$
1,327,954

 
$
(48,162
)