FAIR VALUE (Tables)

3 Months Ended

Mar. 31, 2016

FAIR VALUE [Abstract]

Assets Measured at Fair Value on a Recurring Basis

The Company’s financial instruments measured at fair value and the level of the fair value hierarchy of inputs used were as follows:

	March 31, 2016
	Level 1		Level 2		Level 3		Total
	(in thousands)
Debt securities:
United States government obligations and authorities	$	26,578	$	26,895	$	-	$	53,473
Obligations of states and political subdivisions		-		124,310		-		124,310
Corporate		-		148,926		-		148,926
International		-		12,536		-		12,536
		26,578		312,667		-		339,245
Equity securities		38,302		2,528		-		40,830
Total investments	$	64,880	$	315,195	$	-	$	380,075

	December 31, 2015
	Level 1		Level 2		Level 3		Total
	(in thousands)
Debt securities:
United States government obligations and authorities	$	34,733	$	26,820	$	-	$	61,553
Obligations of states and political subdivisions		-		110,702		-		110,702
Corporate		-		154,620		-		154,620
International		-		12,303		-		12,303
		34,733		304,445		-		339,178
Equity securities		38,012		522		-		38,534
Total investments	$	72,745	$	304,967	$	-	$	377,712