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Fair Value (Tables)
12 Months Ended
Dec. 31, 2021
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 December 31, 2021 and December 31, 2020 (in thousands).

As of December 31, 2021

    

Quoted Prices in

    

    

    

Active Markets for

Identical Assets

Other Observable

Unobservable

    

(Level 1)

    

Inputs (Level 2)

    

Inputs (Level 3)

    

Total

U.S. Treasury securities and obligations of U.S. Government

$

$

62,984

$

$

62,984

Corporate bonds

 

 

105,234

 

347

 

105,581

Corporate bank loans

 

 

81,189

 

 

81,189

Municipal bonds

 

 

38,464

 

 

38,464

Mortgage-backed

 

 

1,855

 

 

1,855

Total debt securities

 

 

289,726

 

347

 

290,073

Total equity securities

 

48,695

 

 

 

48,695

Total investments

$

48,695

$

289,726

$

347

$

338,768

As of December 31, 2020

    

Quoted Prices in

    

    

    

Active Markets for

Identical Assets

Other Observable

Unobservable

    

(Level 1)

    

Inputs (Level 2)

    

Inputs (Level 3)

    

Total

U.S. Treasury securities and obligations of U.S. Government

$

$

179,746

$

$

179,746

Corporate bonds

 

 

219,020

 

348

 

219,368

Corporate bank loans

 

 

52,782

 

 

52,782

Municipal bonds

 

 

50,539

 

 

50,539

Mortgage-backed

 

 

4,844

 

 

4,844

Total debt securities

 

 

506,931

 

348

 

507,279

Total equity securities

 

29,388

 

 

 

29,388

Total investments

$

29,388

$

506,931

$

348

$

536,667

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 year ended December 31, 2021 and 2020 (in thousands).

    

2021

    

2020

Beginning balance as of January 1

    

$

348

$

339

Sales

 

 

Settlements

 

 

Purchases

 

 

Issuances

 

 

Total realized/unrealized gains included in net income

 

 

Net gain included in other comprehensive income

 

(1)

 

9

Transfers into Level 3

 

 

Transfers out of Level 3

 

 

Ending balance as of December 31

$

347

$

348