Investment Securities, Available-for-sale |
As of March 31, 2017 and December 31, 2016, the gross unrealized losses and fair values of available-for-sale investment securities that were in unrealized loss positions were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | Less than 12 months | | 12 months or more | | Total fair value | | Total unrealized loss | | Fair value | | Unrealized loss | | Fair value | | Unrealized loss | | | | (In thousands) | March 31, 2017 | | Corporate bonds | $ | 2,221 |
| | $ | (3 | ) | | $ | 3,999 |
| | $ | (3 | ) | | $ | 6,220 |
| | $ | (6 | ) | U.S. Treasury notes | 21,132 |
| | (52 | ) | | — |
| | — |
| | 21,132 |
| | (52 | ) | Mortgage-backed securities | 19,346 |
| | (213 | ) | | 62,309 |
| | (452 | ) | | 81,655 |
| | (665 | ) | Municipal bonds | — |
| | — |
| | 821 |
| | (17 | ) | | 821 |
| | (17 | ) | Asset-backed securities | 25,158 |
| | (138 | ) | | — |
| | — |
| | 25,158 |
| | (138 | ) | Total investment securities | $ | 67,857 |
| | $ | (406 | ) | | $ | 67,129 |
| | $ | (472 | ) | | $ | 134,986 |
| | $ | (878 | ) | | | | | | | | | | | | | December 31, 2016 | | | | | | | | | | | | Corporate bonds | $ | 8,739 |
| | $ | (7 | ) | | $ | 1,999 |
| | $ | — |
| | $ | 10,738 |
| | $ | (7 | ) | Commercial paper | 2,672 |
| | (1 | ) | | — |
| | — |
| | 2,672 |
| | (1 | ) | U.S. Treasury notes | 16,211 |
| | (41 | ) | | — |
| | — |
| | 16,211 |
| | (41 | ) | Agency securities | 4,002 |
| | (1 | ) | | — |
| | — |
| | 4,002 |
| | (1 | ) | Mortgage-backed securities | 23,300 |
| | (236 | ) | | 61,383 |
| | (505 | ) | | 84,683 |
| | (741 | ) | Municipal bonds | — |
| | — |
| | 937 |
| | (31 | ) | | 937 |
| | (31 | ) | Asset-backed securities | 25,501 |
| | (156 | ) | | — |
| | — |
| | 25,501 |
| | (156 | ) | Total investment securities | $ | 80,425 |
| | $ | (442 | ) | | $ | 64,319 |
| | $ | (536 | ) | | $ | 144,744 |
| | $ | (978 | ) |
Our available-for-sale investment securities were as follows: | | | | | | | | | | | | | | | | | | Amortized cost | | Gross unrealized gains | | Gross unrealized losses | | Fair value | | (In thousands) | March 31, 2017 | | Corporate bonds | $ | 12,060 |
| | $ | 5 |
| | $ | (6 | ) | | $ | 12,059 |
| Commercial paper | 3,885 |
| | — |
| | — |
| | 3,885 |
| U.S. Treasury notes | 25,888 |
| | 1 |
| | (52 | ) | | 25,837 |
| Mortgage-backed securities | 112,838 |
| | 204 |
| | (665 | ) | | 112,377 |
| Municipal bonds | 1,304 |
| | 1 |
| | (17 | ) | | 1,288 |
| Asset-backed securities | 28,500 |
| | 1 |
| | (138 | ) | | 28,363 |
| Total investment securities | $ | 184,475 |
| | $ | 212 |
| | $ | (878 | ) | | $ | 183,809 |
| | | | | | | | | December 31, 2016 | | | | | | | | Corporate bonds | $ | 21,533 |
| | $ | 9 |
| | $ | (7 | ) | | $ | 21,535 |
| Commercial paper | 12,427 |
| | 4 |
| | (1 | ) | | 12,430 |
| U.S. Treasury notes | 21,603 |
| | 1 |
| | (41 | ) | | 21,563 |
| Agency securities | 4,002 |
| | — |
| | (1 | ) | | 4,001 |
| Mortgage-backed securities | 117,990 |
| | 242 |
| | (741 | ) | | 117,491 |
| Municipal bonds | 1,460 |
| | 1 |
| | (31 | ) | | 1,430 |
| Asset-backed securities | 30,131 |
| | 1 |
| | (156 | ) | | 29,976 |
| Total investment securities | $ | 209,146 |
| | $ | 258 |
| | $ | (978 | ) | | $ | 208,426 |
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Investments Classified by Contractual Maturity Date |
As of March 31, 2017, the contractual maturities of our available-for-sale investment securities were as follows: | | | | | | | | | | Amortized cost | | Fair value | | (In thousands) | Due in one year or less | $ | 24,618 |
| | $ | 24,605 |
| Due after one year through five years | 17,987 |
| | 17,948 |
| Due after five years through ten years | 58 |
| | 56 |
| Due after ten years | 780 |
| | 765 |
| Mortgage and asset-backed securities | 141,032 |
| | 140,435 |
| Total investment securities | $ | 184,475 |
| | $ | 183,809 |
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