SECURITIES (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2014
Available for Sale
U. S. government agency	$	638	$	5	$	—		$	643
State and municipal	307,124		18,699		(566		)	325,257
Mortgage-backed securities-residential (GSE’s)	150,596		4,205		(920		)	153,881
Collateralized mortgage obligations (GSE’s)	366,429		2,760		(4,795		)	364,394
Equity securities	4,689		—		—			4,689
Other securities	3,512		—		(2		)	3,510
Total available for sale	$	832,988	$	25,669	$	(6,283	)	$	852,374
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
June 30, 2014	Amortized Cost		Fair Value
Within one year	$	14,698	$	14,902
One through five years	48,256		50,133
Six through ten years	123,579		130,050
After ten years	124,741		134,325
Mortgage-backed securities-residential (Government Sponsored Entity)	150,596		153,881
Collateralized mortgage obligations (Government Sponsored Entity)	366,429		364,394
Equity securities	4,689		4,689
Total available for sale securities	$	832,988	$	852,374

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
June 30, 2014 Description of securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
State and municipal	$	2,186	$	(9	)	$	21,018	$	(557	)	$	23,204	$	(566	)
Mortgage-backed securities-residential (GSE’s)	—		—			51,920		(920		)	51,920		(920		)
Collateralized mortgage obligations (GSE’s)	27,084		(290		)	156,962		(4,505		)	184,046		(4,795		)
Other securities	—		—			999		(2		)	999		(2		)
Total temporarily impaired	$	29,270	$	(299	)	$	230,899	$	(5,984	)	260,169		$	(6,283	)

	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	)