Fair Value (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value [Abstract]

Fair Value, Assets Measured on Recurring Basis

The following table presents for each of the fair value hierarchy levels, our assets that are measured at fair value on a recurring basis at March 31, 2015 and December 31, 2014 (in thousands):

	As of March 31, 2015
	Quoted Prices in		Other
	Active Markets for		Observable		Unobservable
	Identical Assets		Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
U.S. Treasury securities and obligations of U.S. Government	$	-	$	92,675	$	-	$	92,675
Corporate bonds		-		31,858		-		31,858
Collateralized corporate bank loans		-		112,702		187		112,889
Municipal bonds		-		147,964		14,247		162,211
Mortgage-backed		-		67,424		-		67,424
Total debt securities		-		452,623		14,434		467,057
Total equity securities		65,466		-		-		65,466
Total debt and equity securities	$	65,466	$	452,623	$	14,434	$	532,523

	As of December 31, 2014
	Quoted Prices in		Other
	Active Markets for		Observable		Unobservable
	Identical Assets		Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)		Total
U.S. Treasury securities and obligations of U.S. Government	$	-	$	93,305	$	-	$	93,305
Corporate bonds		-		29,442		-		29,442
Collateralized corporate bank loans		-		113,402		247		113,649
Municipal bonds		-		147,978		14,351		162,329
Mortgage-backed		-		52,060		-		52,060
Total debt securities		-		436,187		14,598		450,785
Total equity securities		56,444		-		-		56,444
Total debt and equity securities	$	56,444	$	436,187	$	14,598	$	507,229

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table summarizes the changes in fair value for all financial assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the three months ended March 31, 2015 and 2014 (in thousands): 

Beginning balance as of January 1, 2015	$	14,598
Sales		-
Settlements		(59)
Purchases		-
Issuances		-
Total realized/unrealized gains included in net income		-
Net losses included in other comprehensive income		(105)
Transfers into Level 3		-
Transfers out of Level 3		-
Ending balance as of March 31, 2015	$	14,434
Beginning balance as of January 1, 2014	$	17,517
Sales		-
Settlements		(82)
Purchases		-
Issuances		-
Total realized/unrealized gains included in net income		-
Net gains included in other comprehensive income		67
Transfers into Level 3		-
Transfers out of Level 3		-
Ending balance as of March 31, 2014	$	17,502