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

9 Months Ended

Sep. 30, 2017

Investments, Debt and Equity Securities [Abstract]

Amortized costs and fair values

The amortized costs and fair values follow:

	September 30, 2017		December 31, 2016
	Amortized costs	Fair values	Amortized costs	Fair values
	($000 omitted)
Debt securities:
Municipal	71,849	73,355	72,284	72,432
Corporate	334,143	342,760	338,365	343,047
Foreign	215,664	214,567	165,735	167,027
U.S. Treasury Bonds	12,837	12,721	12,795	12,613
Equity securities	29,900	36,279	30,255	36,384
	664,393	679,682	619,434	631,503

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

	Three Months Ended   September 30,		Nine Months Ended   September 30,
	2017	2016	2017	2016
	($000 omitted)
Proceeds from sales of investments available-for-sale	5,878	16,839	55,533	49,666

Gross unrealized gains and losses

Gross unrealized gains and losses were:

	September 30, 2017		December 31, 2016
	Gains	Losses	Gains	Losses
	($000 omitted)
Debt securities:
Municipal	1,697	191	723	575
Corporate	8,879	262	6,871	2,189
Foreign	2,327	3,424	2,912	1,620
U.S. Treasury Bonds	12	128	4	186
Equity securities	6,744	365	6,800	671
	19,659	4,370	17,310	5,241

Debt securities according to contractual terms

Debt securities as of September 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	31,735	31,933
After one year through five years	304,284	309,497
After five years through ten years	233,228	234,022
After ten years	65,246	67,951
	634,493	643,403

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 September 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	55	3,771	136	4,353	191	8,124
Corporate	206	39,708	56	1,638	262	41,346
Foreign	3,191	131,992	233	5,071	3,424	137,063
U.S. Treasury Bonds	128	8,293	—	—	128	8,293
Equity securities	255	6,350	110	568	365	6,918
	3,835	190,114	535	11,630	4,370	201,744

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