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SUBSEQUENT EVENTS
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3 Months Ended |
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Mar. 31, 2015
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| SUBSEQUENT EVENTS [Abstract] | |
| SUBSEQUENT EVENTS |
14.SUBSEQUENT EVENTS
Subsequent to quarter-end the Company performed a review of the investment portfolio and the related classification of securities. In connection with this review, management determined that the Company has the ability and the intent to hold certain municipal securities to their contractual maturity. On April 30, 2015, the Company reclassified certain municipal securities with an amortized cost of $193.6 million and a fair value of $202.8 million from available for sale to held-to-maturity. The reclassification will be accounted for in accordance with the guidance established in ASC 320, Investments – Debt and Equity Securities.
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- Details
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- Definition
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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