Available For Sale Securities

9 Months Ended

Sep. 30, 2016

The amortized cost, gross unrealized gains and losses and estimated fair value of investments classified as available for sale at September 30, 2016 and December 31, 2015 are as follows (in thousands):



	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
September 30, 2016
Bonds and notes:
U.S. government securities	$	226,005	$	92	$	4	$	226,093
Residential mortgage-backed securities	21,816		135		83		21,868
Commercial mortgage-backed securities	4,717		17		47		4,687
Other asset-backed securities	18,931		196		—		19,127
All other corporates	1,512		7		—		1,519
Total fixed maturities	272,981		447		134		273,294

Equity securities:
Common stocks:
Banks, trusts and insurance companies	35,071		15,188		—		50,259
Industrial, miscellaneous and all other	17,946		9,167		—		27,113
Total equity securities	53,017		24,355		—		77,372

	$	325,998	$	24,802	$	134	$	350,666

December 31, 2015
Bonds and notes:
U.S. government securities	$	63,968	$	2	$	25	$	63,945
Residential mortgage-backed securities	23,033		308		101		23,240
Commercial mortgage-backed securities	2,392		—		18		2,374
Other asset-backed securities	39,633		—		160		39,473
All other corporates	4,794		7		57		4,744
Total fixed maturities	133,820		317		361		133,776

Equity securities:
Common stocks:
Banks, trusts and insurance companies	35,071		10,201		—		45,272
Industrial, miscellaneous and all other	17,946		10,361		—		28,307
Total equity securities	53,017		20,562		—		73,579

	$	186,837	$	20,879	$	361	$	207,355

The amortized cost and estimated fair value of investments classified as available for sale at September 30, 2016, by contractual maturity, are shown below. Expected maturities are likely to differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.



	Amortized Cost		Estimated Fair Value
	(In thousands)
Due within one year	$	227,013	$	227,101
Due after one year through five years	504		511
	227,517		227,612
Mortgage-backed and asset-backed securities	45,464		45,682
	$	272,981	$	273,294

At September 30, 2016, the unrealized losses on investments which have been in a continuous unrealized loss position for less than 12 months and 12 months or longer were not significant.