SECURITIES (Tables)

3 Months Ended

Mar. 31, 2016

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Fair Value of Securities Available for Sale and Held for Investment

The amortized cost and fair value of securities available for sale and held for investment at March 31, 2016 and December 31, 2015 are summarized as follows:

	March 31, 2016
	Gross		Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(Dollars in thousands)	Cost		Gains		Losses		Value
SECURITIES AVAILABLE FOR SALE
U.S. Treasury securities and obligations of U.S. Government Sponsored Entities	$	13,693	$	305	$	0	$	13,998
Mortgage-backed securities of U.S. Government Sponsored Entities		206,630		2,855		(349)		209,136
Collateralized mortgage obligations of U.S. Government Sponsored Entities		297,383		1,982		(1,531)		297,834
Private mortgage backed securities		32,610		0		(998)		31,612
Private collateralized mortgage obligations		82,940		560		(1,242)		82,258
Collateralized loan obligations		124,561		0		(3,393)		121,168
Obligations of state and political subdivisions		57,659		1,879		(18)		59,520
Corporate and other debt securities		46,048		328		(204)		46,172
Private commercial mortgage backed securities		43,771		246		(533)		43,484
	$	905,295	$	8,155	$	(8,268)	$	905,182
SECURITIES HELD FOR INVESTMENT
Mortgage-backed securities of U.S. Government Sponsored Entities	$	64,718	$	2,702	$	0	$	67,420
Collateralized mortgage obligations of
U.S. Government Sponsored Entities		84,346		1,890		0		86,236
Collateralized loan obligations		41,389		0		(3,853)		37,536
Private collateralized mortgage obligations		7,778		0		(150)		7,628
	$	198,231	$	4,592	$	(4,003)	$	198,820

	December 31, 2015
	Gross		Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
(Dollars in thousands)	Cost		Gains		Losses		Value
SECURITIES AVAILABLE FOR SALE
U.S. Treasury securities and obligations  of U.S. Government Sponsored Entities	$	3,833	$	78	$	0	$	3,911
Mortgage-backed securities of U.S.  Government Sponsored Entities		192,224		847		(1,322)		191,749
Collateralized mortgage obligations of
U.S. Government Sponsored Entities		242,620		470		(4,900)		238,190
Private mortgage backed securities		32,558		0		(766)		31,792
Private collateralized mortgage obligations		77,965		700		(708)		77,957
Collateralized loan obligations		124,477		0		(1,894)		122,583
Obligations of state and political subdivisions		39,119		882		(110)		39,891
Corporate and other debt securities		44,652		37		(416)		44,273
Private commercial mortgage backed securities		41,127		13		(720)		40,420
	$	798,575	$	3,027	$	(10,836)	$	790,766
SECURITIES HELD FOR INVESTMENT
Mortgage-backed securities of U.S. Government Sponsored Entities	$	64,993	$	574	$	(16)	$	65,551
Collateralized mortgage obligations of  U.S. Government Sponsored Entities		89,265		581		(406)		89,440
Collateralized loan obligations		41,300		0		(1,360)		39,940
Private collateralized mortgage obligations		7,967		0		(85)		7,882
	$	203,525	$	1,155	$	(1,867)	$	202,813

Amortized Cost and Fair Value of Securities by Contractual Maturity

The amortized cost and fair value of securities at March 31, 2016, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because prepayments of the underlying collateral for these securities may occur, due to the right to call or repay obligations with or without call or prepayment penalties.

	Held for Investment				Available for Sale
	Amortized		Fair		Amortized		Fair
(Dollars in thousands)	Cost		Value		Cost		Value
Due in less than one year	$	0	$	0	$	4,779	$	4,853
Due after one year through five years		0		0		73,041		72,962
Due after five years through ten years		41,389		37,536		119,832		117,893
Due after ten years		0		0		35,545		36,416
		41,389		37,536		233,197		232,124
Mortgage-backed securities of U.S. Government Sponsored Entities		64,718		67,420		206,630		209,136
Collateralized mortgage obligations of  U.S. Government Sponsored Entities		84,346		86,236		297,383		297,834
Private mortgage backed securities		0		0		32,610		31,612
Private collateralized mortgage obligations		7,778		7,628		82,940		82,258
Other debt securities		0		0		8,764		8,734
Private commercial mortgage backed securities		0		0		43,771		43,484
	$	198,231	$	198,820	$	905,295	$	905,182

Schedule of Unrealized Loss and Fair Value on Investments

The tables below indicate the amount of securities with unrealized losses and period of time for which these losses were outstanding at March 31, 2016 and December 31, 2015, respectively.

	March 31, 2016
	Less than 12 months				12 months or longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(Dollars in thousands)	Value		Losses		Value		Losses		Value		Losses
Mortgage-backed securties of U.S. Governement Sponsored Entities	$	30,876	$	(231)	$	6,201	$	(118)	$	37,077	$	(349)
Collateralized mortgage obligations of U.S. Government Sponsored Entities		4,005		(46)		126,260		(1,485)		130,265		(1,531)
Private mortage backed securities		17,252		(668)		14,359		(330)		31,611		(998)
Private collateralized mortgage obligations		11,883		(232)		50,301		(1,160)		62,184		(1,392)
Collateralized loan obligations		98,879		(4,479)		59,826		(2,767)		158,705		(7,246)
Obligations of state and political subdivisions		3,012		(18)		0		0		3,012		(18)
Corporate and other debt securities		16,713		(204)		0		0		16,713		(204)
Private commercial mortgage backed securities		29,348		(533)		0		0		29,348		(533)
Total temporarily impaired securities	$	211,968	$	(6,411)	$	256,947	$	(5,860)	$	468,915	$	(12,271)

	December 31, 2015
	Less than 12 months				12 months or longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
(Dollars in thousands)	Value		Losses		Value		Losses		Value		Losses
Mortgage-backed securties of U.S. Governement Sponsored Entities	$	112,236	$	(1,082)	$	14,508	$	(256)	$	126,744	$	(1,338)
Collateralized mortgage obligations of U.S. Government Sponsored Entities		97,512		(973)		147,266		(4,333)		244,778		(5,306)
Private mortage backed securities		31,792		(766)		0		0		31,792		(766)
Private collateralized mortgage obligations		19,939		(321)		31,533		(472)		51,472		(793)
Collateralized loan obligations		101,601		(1,642)		60,922		(1,612)		162,523		(3,254)
Obligations of state and political subdivisions		11,570		(110)		0		0		11,570		(110)
Corporate and other debt securities		31,342		(416)		0		0		31,342		(416)
Private commercial mortgage backed securities		37,838		(720)		0		0		37,838		(720)
Total temporarily impaired securities	$	443,830	$	(6,030)	$	254,229	$	(6,673)	$	698,059	$	(12,703)