SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2014

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of reconciliation of numerator and denominator of the basic and diluted earnings per share computations

	For the Three-Month Period					For the Three-Month Period
	Ended September 30,  2014					Ended September 30,  2013
(in thousands, except	Income		Shares	Per Share		Income		Shares	Per Share
per share data)	(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount
Basic EPS
Income available to common shareholders	$	33,254	43,026	$	0.77	$	37,647	42,843	$	0.88
Effect of Dilutive Securities
Stock options		-	686				-	703
Diluted EPS
Income available to common shareholders	$	33,254	43,712	$	0.76	$	37,647	43,546	$	0.86
	For the Nine-Month Period					For the Nine-Month Period
	Ended September 30,  2014					Ended September 30,  2013
(in thousands, except	Income		Shares	Per Share		Income		Shares	Per Share
per share data)	(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount
Basic EPS
Income available to common shareholders	$	97,948	43,004	$	2.28	$	92,396	42,673	$	2.17
Effect of Dilutive Securities
Stock options		-	688				-	657
Diluted EPS
Income available to common shareholders	$	97,948	43,692	$	2.24	$	92,396	43,330	$	2.13

Schedule of changes in the balance of each component of accumulated other comprehensive earnings

	For the Three-Month Periods				For the Nine-Month Periods
	Ended September 30,				Ended September 30,
(in thousands)	2014		2013		2014		2013
Unrealized Gains/Losses on Available-for-Sale Securities
Beginning balance	$	173,698	$	127,242	$	136,027	$	143,170
Other comprehensive earnings before reclassifications		(8,642)		5,203		40,032		(5,354)
Amounts reclassified from accumulated other comprehensive earnings		(3,711)		(7,149)		(14,714)		(12,520)
Net current-period other comprehensive earnings	$	(12,353)	$	(1,946)	$	25,318	$	(17,874)
Ending balance	$	161,345	$	125,296	$	161,345	$	125,296

Schedule of effects of reclassifications out of accumulated other comprehensive earnings

	Amount Reclassified from Accumulated Other
	Comprehensive Earnings
(in thousands)	For the Three-Month				For the Nine-Month
Component of Accumulated	Periods Ended September 30,				Periods Ended September 30,				Affected line item in the
Other Comprehensive Earnings	2014		2013		2014		2013		Statement of Earnings
Unrealized gains and losses on available-for-sale securities	$	5,709	$	10,998	$	22,637	$	19,261	Net realized investment gains
		-		-		-		-	Other-than-temporary impairment (OTTI) losses on investments
	$	5,709	$	10,998	$	22,637	$	19,261	Earnings before income taxes
		(1,998)		(3,849)		(7,923)		(6,741)	Income tax expense
	$	3,711	$	7,149	$	14,714	$	12,520	Net earnings