Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value of Financial Instruments

Fair value measurements for investments

	As of December 31, 2021
	Total		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
U.S. Treasury securities	$	324	$	—	$	324	$	—
Obligations of states and political subdivisions		116,302		—		116,302		—
Residential mortgage-backed securities		241,464		—		241,464		—
Commercial mortgage-backed securities		150,883		—		150,883		—
Other asset-backed securities		83,596		—		83,596		—
Corporate and other securities		625,710		—		625,710		—
Equity securities		226,375		224,677		—		1,698
Total investment securities	$	1,444,654	$	224,677	$	1,218,279	$	1,698

	As of December 31, 2020
	Total		Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
U.S. Treasury securities	$	1,865	$	—	$	1,865	$	—
Obligations of states and political subdivisions		222,389		—		222,389		—
Residential mortgage-backed securities		241,597		—		241,597		—
Commercial mortgage-backed securities		126,035		—		126,035		—
Other asset-backed securities		73,124		—		73,124		—
Corporate and other securities		591,643		—		591,643		—
Short term investments		441		—		441		—
Equity securities		173,096		171,398		—		1,698
Total investment securities	$	1,430,190	$	171,398	$	1,257,094	$	1,698

Changes in the Company's Level 3 fair value securities

	Years Ended December 31,
	2021		2020		2019
Balance at beginning of period	$	1,698	$	516	$	680
Net gains and losses included in earnings		—		—		—
Net gains included in other comprehensive income		—		—		—
Purchases		—		1,182		133
Sales		—		—		(297)
Transfers into Level 3		—		—		—
Transfers out of Level 3		—		—		—
Balance at end of period	$	1,698	$	1,698	$	516