Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value of Financial Instruments

Fair value measurements for investments

	As of December 31, 2019
	Total		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
U.S. Treasury securities	$	1,512	$	—	$	1,512	$	—
Obligations of states and political subdivisions		251,396		—		251,396		—
Residential mortgage-backed securities		307,202		—		307,202		—
Commercial mortgage-backed securities		109,738		—		109,738		—
Other asset-backed securities		36,222		—		36,222		—
Corporate and other securities		521,970		—		521,970		—
Equity securities		144,877		144,361		—		516
Total investment securities	$	1,372,917	$	144,361	$	1,228,040	$	516

	As of December 31, 2018
	Total		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
U.S. Treasury securities	$	1,777	$	—	$	1,777	$	—
Obligations of states and political subdivisions		266,198		—		266,198		—
Residential mortgage-backed securities		297,023		—		297,023		—
Commercial mortgage-backed securities		60,336		—		60,336		—
Other asset-backed securities		61,076		—		61,076		—
Corporate and other securities		475,452		—		475,452		—
Equity securities		116,173		115,493		—		680
Total investment securities	$	1,278,035	$	115,493	$	1,161,862	$	680

Changes in the Company's Level 3 fair value securities

	Years Ended December 31,
	2019		2018		2017
Balance at beginning of period	$	680	$	680	$	678
Net gains and losses included in earnings		—		—		—
Net gains included in other comprehensive income		—		—		—
Purchases		133		—		2
Sales		(297)		—		—
Transfers into Level 3		—		—		—
Transfers out of Level 3		—		—		—
Balance at end of period	$	516	$	680	$	680