SECURITIES (Tables)

3 Months Ended

Mar. 31, 2014

SECURITIES

Schedule of amortized cost and fair value of securities available for sale and related unrealized gains/losses recognized in accumulated other comprehensive income

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		Losses			Value
As of March 31, 2014
Available for Sale
U. S. government agency	$	707	$	5	$	—		$	712
State and municipal	312,827		15,281		(1,254		)	326,854
Mortgage-backed securities-residential (GSE’s)	178,590		3,303		(2,643		)	179,250
Collateralized mortgage obligations (GSE’s)	370,429		1,828		(6,422		)	365,835
Equity securities	4,939		—		—			4,939
Other securities	3,519		—		(5		)	3,514
Total available for sale	$	871,011	$	20,417	$	(10,324	)	$	881,104
As of December 31, 2013
Available for Sale
U. S. government agency	$	793	$	5	$	—		$	798
State and municipal	321,151		12,173		(2,212		)	331,112
Mortgage-backed securities-residential (GSE’s)	186,054		3,175		(3,800		)	185,429
Collateralized mortgage obligations (GSE’s)	372,896		1,642		(9,229		)	$	365,309
Equity securities	4,939		—		—			4,939
Other securities	3,527		—		(8		)	3,519
Total available for sale	$	889,360	$	16,995	$	(15,249	)	$	891,106

Schedule of contractual maturities of securities

	Available for Sale
March 31, 2014	Amortized Cost		Fair Value
Within one year	$	11,760	$	11,940
One through five years	53,951		55,981
Six through ten years	124,940		129,624
After ten years	126,402		133,535
Mortgage-backed securities-residential (Government Sponsored Entity)	178,590		179,250
Collateralized mortgage obligations (Government Sponsored Entity)	370,429		365,835
Equity securities	4,939		4,939
Total available for sale securities	$	871,011	$	881,104

Schedule of securities in a continuous unrealized loss position with unrealized losses presented by length of time

	Less than 12 months					12 months or longer					Total
March 31, 2014 Description of securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
State and municipal	$	22,079	$	(846	)	$	5,513	$	(408	)	$	27,592	$	(1,254	)
Mortgage-backed securities-residential (GSE’s)	86,318		(2,643		)	—		—			86,318		(2,643		)
Collateralized mortgage obligations (GSE’s)	229,756		(4,955		)	32,782		(1,467		)	262,538		(6,422		)
Other securities	—		—			996		(5		)	996		(5		)
Total temporarily impaired	$	338,153	$	(8,444	)	$	39,291	$	(1,880	)	377,444		$	(10,324	)

	Less than 12 months					12 months or longer					Total
December 31, 2013 Description of securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
State and municipal	$	31,660	$	(1,791	)	$	4,153	$	(421	)	$	35,813	$	(2,212	)
Mortgage-backed securities-residential (GSE’s)	114,036		(3,800		)	—		—			114,036		(3,800		)
Collateralized mortgage obligations (GSE’s)	267,579		(9,040		)	4,100		(189		)	271,679		(9,229		)
Other securities	—		—			993		(8		)	993		(8		)
Total temporarily impaired	$	413,275	$	(14,631	)	$	9,246	$	(618	)	$	422,521	$	(15,249	)