SECURITIES (Tables)

9 Months Ended

Sep. 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 September 30, 2014
Available for Sale
U. S. government agency	$	577	$	5	$	—		$	582
State and municipal	304,700		19,304		(306		)	323,698
Mortgage-backed securities-residential (GSE’s)	154,664		3,499		(1,259		)	156,904
Collateralized mortgage obligations (GSE’s)	354,174		2,180		(5,635		)	350,719
Equity securities	4,689		—		—			4,689
Other securities	3,508		1		—			3,509
Total available for sale	$	822,312	$	24,989	$	(7,200	)	$	840,101
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
September 30, 2014	Amortized Cost		Fair Value
Within one year	$	15,516	$	15,707
One through five years	51,381		53,390
Six through ten years	128,201		135,014
After ten years	113,687		123,678
Mortgage-backed securities-residential (Government Sponsored Entity)	154,664		156,904
Collateralized mortgage obligations (Government Sponsored Entity)	354,174		350,719
Equity securities	4,689		4,689
Total available for sale securities	$	822,312	$	840,101

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
September 30, 2014 Description of securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
State and municipal	$	2,489	$	(11	)	$	15,981	$	(295	)	$	18,470	$	(306	)
Mortgage-backed securities-residential (GSE’s)	10,200		(26		)	49,874		(1,233		)	60,074		(1,259		)
Collateralized mortgage obligations (GSE’s)	75,368		(648		)	150,728		(4,987		)	226,096		(5,635		)
Total temporarily impaired	$	88,057	$	(685	)	$	216,583	$	(6,515	)	304,640		$	(7,200	)

	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	)