XML 36 R19.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2014
Fair Value Disclosures [Abstract]  
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.
 
March 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
$
12,640

 
44,764

 

 
57,404

States and political subdivisions

 
359,920

 

 
359,920

Corporate

 
223,183

 

 
223,183

Commercial mortgage-backed

 
152

 
290

 
442

Residential mortgage-backed

 
3,679

 

 
3,679

Foreign governments

 
131

 

 
131

Total fixed maturities
12,640

 
631,829

 
290

 
644,759

Equity securities:
 

 
 

 
 

 
 

Stock mutual funds
12,200

 

 

 
12,200

Bond mutual funds
34,791

 

 

 
34,791

Common stock
813

 

 

 
813

Preferred stock
2,041

 

 

 
2,041

Total equity securities
49,845

 

 

 
49,845

Total financial assets
$
62,485

 
631,829

 
290

 
694,604


 
December 31, 2013
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
$
12,463

 
54,568

 

 
67,031

States and political subdivisions

 
336,466

 

 
336,466

Corporate

 
197,561

 

 
197,561

Commercial mortgage-backed

 

 
309

 
309

Residential mortgage-backed

 
3,762

 

 
3,762

Foreign governments

 
127

 

 
127

Total fixed maturities
12,463

 
592,484

 
309

 
605,256

Equity securities:
 

 
 

 
 

 
 

Stock mutual funds
11,969

 

 

 
11,969

Bond mutual funds
34,663

 

 

 
34,663

Common stock
12

 

 

 
12

Preferred stock
615

 

 

 
615

Total equity securities
47,259

 

 

 
47,259

Total financial assets
$
59,722

 
592,484

 
309

 
652,515

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.

March 31,
2014
 
December 31,
2013
 
(In thousands)
 
 
 
 
Balance at beginning of period
$
309

 
387

Total realized and unrealized gains (losses)


 
 

Included in net income

 

Included in other comprehensive income

 
(7
)
Principal paydowns
(19
)
 
(71
)
Transfer in and (out) of Level 3

 

Balance at end of period
$
290

 
309

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:
 
March 31, 2014
 
December 31, 2013
 
Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
 
(In thousands)
Financial assets:
 
 
 
 
 
 
 
Fixed maturities, held-to-maturity
$
223,586

 
225,087

 
227,696

 
223,533

Mortgage loans
659

 
684

 
671

 
695

Policy loans
50,288

 
50,288

 
48,868

 
48,868

Cash and cash equivalents
52,307

 
52,307

 
54,593

 
54,593

Financial liabilities:
 

 
 

 
 

 
 

Annuity - investment contracts
39,650

 
43,086

 
39,469

 
44,960