Investments in debt and equity securities available-for-sale (Tables)

6 Months Ended

Jun. 30, 2017

Investments, Debt and Equity Securities [Abstract]

Amortized costs and fair values

The amortized costs and fair values follow:

	June 30, 2017		December 31, 2016
	Amortized costs	Fair values	Amortized costs	Fair values
	($000 omitted)
Debt securities:
Municipal	72,214	73,601	72,284	72,432
Corporate	324,116	332,226	338,365	343,047
Foreign	199,369	200,669	165,735	167,027
U.S. Treasury Bonds	13,016	12,894	12,795	12,613
Equity securities	30,345	35,372	30,255	36,384
	639,060	654,762	619,434	631,503

Proceeds from sales of investments available-for-sale are as follows:

	Three Months Ended   June 30,		Six Months Ended   June 30,
	2017	2016	2017	2016
	($000 omitted)
Proceeds from sales of investments available-for-sale	33,812	21,500	49,655	32,827

Gross unrealized gains and losses

Gross unrealized gains and losses were:

	June 30, 2017		December 31, 2016
	Gains	Losses	Gains	Losses
	($000 omitted)
Debt securities:
Municipal	1,635	248	723	575
Corporate	8,524	414	6,871	2,189
Foreign	2,972	1,672	2,912	1,620
U.S. Treasury Bonds	7	129	4	186
Equity securities	6,079	1,052	6,800	671
	19,217	3,515	17,310	5,241

Debt securities according to contractual terms

Debt securities as of June 30, 2017 mature, according to their contractual terms, as follows (actual maturities may differ due to call or prepayment rights):

	Amortized costs	Fair values
	($000 omitted)
In one year or less	27,282	27,481
After one year through five years	278,518	284,020
After five years through ten years	230,715	232,923
After ten years	72,200	74,966
	608,715	619,390

Gross unrealized losses on investments and fair values of related securities

Gross unrealized losses on investments and the fair values of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2017, were:

	Less than 12 months		More than 12 months		Total
	Losses	Fair values	Losses	Fair values	Losses	Fair values
	($000 omitted)
Debt securities:
Municipal	248	10,021	—	—	248	10,021
Corporate	414	56,365	—	—	414	56,365
Foreign	1,657	95,724	15	247	1,672	95,971
U.S. Treasury Bonds	129	10,824	—	—	129	10,824
Equity securities	1,038	11,488	14	48	1,052	11,536
	3,486	184,422	29	295	3,515	184,717

Gross unrealized losses on investments and the fair values of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2016, were:

	Less than 12 months		More than 12 months		Total
	Losses	Fair values	Losses	Fair values	Losses	Fair values
	($000 omitted)
Debt securities:
Municipal	575	32,038	—	—	575	32,038
Corporate	2,189	119,965	—	—	2,189	119,965
Foreign	1,427	70,012	193	3,160	1,620	73,172
U.S. Treasury Bonds	186	11,847	—	—	186	11,847
Equity securities	424	5,950	247	2,250	671	8,200
	4,801	239,812	440	5,410	5,241	245,222