XML 38 R19.htm IDEA: XBRL DOCUMENT v3.3.0.814
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
The following tables set forth our assets and liabilities that are measured at fair value on a recurring basis as of the dates indicated.
 
September 30, 2015
Available-for-sale investments
Level 1
 
Level 2
 
Level 3
 
Total
Fair Value
 
(In thousands)
Financial assets:
 
 
 
 
 
 
 
Fixed maturities:
 
 
 
 
 
 
 
U.S. Treasury and U.S. Government-sponsored enterprises
$
12,902

 
37,723

 

 
50,625

States and political subdivisions

 
470,575

 

 
470,575

Corporate

 
211,346

 

 
211,346

Commercial mortgage-backed

 

 
169

 
169

Residential mortgage-backed

 
2,998

 

 
2,998

Foreign governments

 
134

 

 
134

Total fixed maturities
12,902

 
722,776

 
169

 
735,847

Equity securities:
 

 
 

 
 

 
 

Stock mutual funds
16,129

 

 

 
16,129

Bond mutual funds
48,661

 

 

 
48,661

Common stock
42

 

 

 
42

Preferred stock
1,836

 

 

 
1,836

Total equity securities
66,668

 

 

 
66,668

Total financial assets
$
79,570

 
722,776

 
169

 
802,515


 
December 31, 2014
Available-for-sale investments
Level 1
 
Level 2
 
Level 3
 
Total
Fair Value
 
(In thousands)
Financial assets:
 
 
 
 
 
 
 
Fixed maturities:
 
 
 
 
 
 
 
U.S. Treasury and U.S. Government-sponsored enterprises
$
12,980

 
40,249

 

 
53,229

States and political subdivisions

 
422,355

 

 
422,355

Corporate

 
227,827

 

 
227,827

Commercial mortgage-backed

 

 
231

 
231

Residential mortgage-backed

 
3,450

 

 
3,450

Foreign governments

 
135

 

 
135

Total fixed maturities
12,980

 
694,016

 
231

 
707,227

Equity securities:
 

 
 

 
 

 
 

Stock mutual funds
17,596

 

 

 
17,596

Bond mutual funds
50,240

 

 

 
50,240

Common stock
51

 

 

 
51

Preferred stock
1,992

 

 

 
1,992

Total equity securities
69,879

 

 

 
69,879

Total financial assets
$
82,859

 
694,016

 
231

 
777,106

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]
The following table presents additional information about fixed maturity securities measured at fair value on a recurring basis that are classified as Level 3 assets and for which we have utilized significant unobservable inputs to determine fair value.

September 30,
2015
 
December 31,
2014
 
(In thousands)
 
 
 
 
Balance at beginning of period
$
231

 
309

Total realized and unrealized gains (losses)


 
 

Included in net income

 

Included in other comprehensive income
(1
)
 
(1
)
Principal paydowns
(61
)
 
(77
)
Transfer in and (out) of Level 3

 

Balance at end of period
$
169

 
231

Fair Value, by Balance Sheet Grouping [Table Text Block]
The carrying amount and fair value for the financial assets and liabilities on the consolidated balance sheets not otherwise disclosed for the periods indicated are as follows:
 
September 30, 2015
 
December 31, 2014
 
Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
 
(In thousands)
Financial assets:
 
 
 
 
 
 
 
Fixed maturities, held-to-maturity
$
247,829

 
254,048

 
224,932

 
232,891

Mortgage loans
599

 
623

 
628

 
652

Policy loans
58,968

 
58,968

 
54,032

 
54,032

Short-term investments
254

 
254

 

 

Cash and cash equivalents
42,831

 
42,831

 
50,708

 
50,708

Financial liabilities:
 

 
 

 
 

 
 

Annuity - investment contracts
45,737

 
37,399

 
42,837

 
37,978