Although management believes that adequate specific and general loan loss allowances have been established, actual losses are dependent upon future events and, as such, further additions to the level of specific and general loan loss allowances may become necessary.
The following table sets forth the fair value, amortized cost, and total unrealized gain of our investment securities, by type (in thousands):
|March 31,||December 31,||September 30,||June 30,||March 31,|
|Securities available for sale:|
|Government sponsored agencies and enterprises||$||42,070||$||42,401||$||56,007||$||55,656||$||56,971|
|States and political subdivisions||581,720||535,660||394,279||392,670||365,481|
|Total fair value||$||1,833,611||$||1,929,297||$||1,888,738||$||1,889,082||$||1,718,654|
|Government sponsored agencies and enterprises||$||39,503||$||39,640||$||53,016||$||54,423||$||56,452|
|States and political subdivisions||547,262||500,979||366,651||371,598||350,851|
|Total amortized cost||$||1,771,311||$||1,864,995||$||1,835,691||$||1,844,261||$||1,681,662|
|Government sponsored agencies and enterprises||$||2,567||$||2,761||$||2,991||$||1,233||$||519|
|States and political subdivisions||34,458||34,681||27,628||21,072||14,630|
|Total unrealized gain||$||62,300||$||64,302||$||53,047||$||44,821||$||36,992|
|Securities held to maturity, at cost:|
|States and political subdivisions||$||239,526||$||240,183||$||240,839||$||-||$||-|
|Total amortized cost||$||498,767||$||499,283||$||499,038||$||230,154||$||102,206|
We do not have any meaningful direct or indirect holdings of subprime residential mortgage loans, home equity lines of credit, or any Fannie Mae or Freddie Mac preferred or common equity securities in our investment securities portfolio. Additionally, more than 99% of our mortgage-backed securities are agency guaranteed.
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