INVESTMENT SECURITIES (Tables)

3 Months Ended

Mar. 31, 2015

INVESTMENT SECURITIES

Gross Amortized Cost and Fair Value of Securities Available for Sale and Related Gross Unrealized Gains and Losses Recognized in Accumulated Other Comprehensive Income (Loss)

			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
March 31, 2015 (in thousands)	Cost		Gains		Losses			Value
U.S. Treasury securities and U.S. Government agencies	$	186,819	$	1,119	$	(1	)	$	187,937
Private label mortgage backed security	4,037		1,198		—			5,235
Mortgage backed securities - residential	112,764		5,330		(121		)	117,973
Collateralized mortgage obligations	136,172		1,144		(709		)	136,607
Freddie Mac preferred stock	—		271		—			271
Mutual fund	1,000		27		—			1,027
Corporate bonds	15,011		84		—			15,095
Total securities available for sale	$	455,803	$	9,173	$	(831	)	$	464,145

	Gross		Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
December 31, 2014 (in thousands)	Cost		Gains		Losses			Value
U.S. Treasury securities and U.S. Government agencies	$	146,625	$	312	$	(15	)	$	146,922
Private label mortgage backed security	4,030		1,220		—			5,250
Mortgage backed securities - residential	118,836		5,511		(91		)	124,256
Collateralized mortgage obligations	143,283		1,034		(1,146		)	143,171
Freddie Mac preferred stock	—		231		—			231
Mutual fund	1,000		18		—			1,018
Corporate bonds	15,011		52		—			15,063
Total securities available for sale	$	428,785	$	8,378	$	(1,252	)	$	435,911

Carrying Value, Gross Unrecognized Gains and Losses, and Fair Value of Securities to be Held to Maturity

			Gross		Gross
	Carrying		Unrecognized		Unrecognized			Fair
March 31, 2015 (in thousands)	Value		Gains		Losses			Value
U.S. Treasury securities and U.S. Government agencies	$	1,549	$	12	$	(5	)	$	1,556
Mortgage backed securities - residential	145		19		—			164
Collateralized mortgage obligations	37,880		600		—			38,480
Corporate bonds	5,000		—		(67		)	4,933
Total securities held to maturity	$	44,574	$	631	$	(72	)	$	45,133

			Gross		Gross
	Carrying		Unrecognized		Unrecognized			Fair
December 31, 2014 (in thousands)	Value		Gains		Losses			Value
U.S. Treasury securities and U.S. Government agencies	$	1,747	$	1	$	(7	)	$	1,741
Mortgage backed securities - residential	147		20		—			167
Collateralized mortgage obligations	38,543		423		(4		)	38,962
Corporate bonds	5,000		—		(63		)	4,937
Total securities held to maturity	$	45,437	$	444	$	(74	)	$	45,807

Amortized Cost and Fair Value of Investment Securities Portfolio by Contractual Maturity

	Securities				Securities
	Available for Sale				Held to Maturity
	Amortized		Fair		Carrying		Fair
March 31, 2015 (in thousands)	Cost		Value		Value		Value
Due in one year or less	$	10,043	$	10,085	$	1,027	$	1,039
Due from one year to five years	181,787		182,901		522		517
Due from five years to ten years	10,000		10,046		5,000		4,933
Due beyond ten years	—		—		—		—
Private label mortgage backed security	4,037		5,235		—		—
Mortgage backed securities - residential	112,764		117,973		145		164
Collateralized mortgage obligations	136,172		136,607		37,880		38,480
Freddie Mac preferred stock	—		271		—		—
Mutual fund	1,000		1,027		—		—
Total securities	$	455,803	$	464,145	$	44,574	$	45,133

Securities with Unrealized Losses, Aggregated by Investment Category with Continuous Unrealized Loss Position

	Less than 12 months					12 months or more					Total
March 31, 2015 (in thousands)	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Securities available for sale:
U.S. Treasury securities and U.S. Government agencies	$	—	$	—		$	999	$	(1	)	$	999	$	(1	)
Mortgage backed securities - residential	7,145		(121		)	—		—			7,145		(121		)
Collateralized mortgage obligations	2,507		(31		)	52,491		(678		)	54,998		(709		)
Total securities available for sale	$	9,652	$	(152	)	$	53,490	$	(679	)	$	63,142	$	(831	)

	Less than 12 months					12 months or more					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Securities held to maturity:
U.S. Treasury securities and U.S. Government agencies	$	517	$	(5	)	$	—	$	—		$	517	$	(5	)
Corporate bonds	—		—			4,933		(67		)	4,933		(67		)
Total securities held to maturity	$	517	$	(5	)	$	4,933	$	(67	)	$	5,450	$	(72	)

	Less than 12 months					12 months or more					Total
December 31, 2014 (in thousands)	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Securities available for sale:
U.S. Treasury securities and U.S. Government agencies	$	2,089	$	(15	)	$	—	$	—		$	2,089	$	(15	)
Mortgage backed securities - residential	7,535		(91		)	—		—			7,535		(91		)
Collateralized mortgage obligations	46,058		(881		)	12,534		(265		)	58,592		(1,146		)
Total securities available for sale	$	55,682	$	(987	)	$	12,534	$	(265	)	$	68,216	$	(1,252	)

	Less than 12 months					12 months or more				Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Securities held to maturity:
U.S. Treasury securities and U.S. Government agencies	$	517	$	(7	)	$	—	$	—	$	517	$	(7	)
Collateralized mortgage obligations	9,045		(4		)	—		—		9,045		(4		)
Corporate bonds	4,936		(63		)	—		—		4,936		(63		)
Total securities held to maturity	$	14,498	$	(74	)	$	—	$	—	$	14,498	$	(74	)

Pledged Investment Securities

(in thousands)	March 31, 2015		December 31, 2014
Carrying amount	$	413,731	$	409,868
Fair value	414,350		410,307