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Investments (Table Text Block)
9 Months Ended 12 Months Ended
Dec. 31, 2015
Mar. 31, 2015
Investments Debt Equity Securities [Abstract]    
Available-for-Sale Investments

Available-for-sale investments at December 31, 2015 were as follows:

 

 

Amortized

Cost

 

Gross

Unrealized

Gains

 

Gross

Unrealized

Losses More than 12 Months

 

Gross

Unrealized

Losses Less than 12 Months

 

Estimated

Market

Value

 

 

(Unaudited)

 

 

(In thousands)

U.S. treasury securities and government obligations

$

76,429

$ 

5,155

$ 

$ 

$ 

81,584

U.S. government agency mortgage-backed securities

 

22,875

 

1,959

 

(5)

 

 

24,829

Obligations of states and political subdivisions

 

168,889

 

12,156

 

(58)

 

(264)

 

180,723

Corporate securities

 

1,073,111

 

36,145

 

(2,259)

 

(16,496)

 

1,090,501

Mortgage-backed securities

 

43,076

 

1,014

 

 

 

44,090

Redeemable preferred stocks

 

18,056

 

312

 

 

(198)

 

18,170

Common stocks

 

18,492

 

5,848

 

(10)

 

(230)

 

24,100

 

$

1,420,928

$ 

62,589

$ 

(2,332)

$ 

(17,188)

$ 

1,463,997

 

Available-for-sale investments at March 31, 2015 were as follows:

 

 

Amortized

Cost

 

Gross

Unrealized

Gains

 

Gross

Unrealized

Losses More than 12 Months

 

Gross

Unrealized

Losses Less than 12 Months

 

Estimated

Market

Value

 

 

 

 

 

(In thousands)

U.S. treasury securities and government obligations

$

99,722

$ 

5,658

$ 

(64)

$ 

$ 

105,316

U.S. government agency mortgage-backed securities

 

30,569

 

2,614

 

(39)

 

(3)

 

33,141

Obligations of states and political subdivisions

 

165,724

 

13,052

 

(298)

 

(10)

 

178,468

Corporate securities

 

885,470

 

44,426

 

(2,522)

 

(2,966)

 

924,408

Mortgage-backed securities

 

19,874

 

806

 

(1)

 

 

20,679

Redeemable preferred stocks

 

18,052

 

521

 

(253)

 

(24)

 

18,296

Common stocks

 

17,975

 

6,719

 

 

(40)

 

24,654

 

$

1,237,386

$ 

73,796

$ 

(3,177)

$ 

(3,043)

$ 

1,304,962

 

Adjusted Cost and Estimated Market Value of Available-for-sale Investments

The adjusted cost and estimated market value of available-for-sale investments by contractual maturity, were as follows:

 

 

December 31, 2015

 

March 31, 2015

 

 

Amortized

Cost

 

Estimated

Market

Value

 

Amortized

Cost

 

Estimated

Market

Value

 

 

(Unaudited)

 

 

 

 

(In thousands)

Due in one year or less

$

51,630

$

52,331

$

36,355

$

37,055

Due after one year through five years

 

206,310

 

216,005

 

198,488

 

209,404

Due after five years through ten years

 

515,059

 

526,263

 

474,639

 

492,782

Due after ten years

 

568,305

 

583,038

 

472,003

 

502,092

 

 

1,341,304

 

1,377,637

 

1,181,485

 

1,241,333

 

 

 

 

 

 

 

 

 

Mortgage backed securities

 

43,076

 

44,090

 

19,874

 

20,679

Redeemable preferred stocks

 

18,056

 

18,170

 

18,052

 

18,296

Common stocks

 

18,492

 

24,100

 

17,975

 

24,654

 

$

1,420,928

$

1,463,997

$

1,237,386

$

1,304,962