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Investments (Tables)
 6 Months Ended
Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]  
Schedule of amortized cost and fair value of securities available for sale
The amortized cost and fair value of securities available for sale are as follows:

 
 
June 30, 2018
 
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Estimated Fair Value
Available for sale:
 
 
 
 
 
 
 
 
Mortgage-backed securities
 
$
167,203

 
$
119

 
$
(6,906
)
 
$
160,416

Utah Housing Corporation bonds
 
18,546

 
—

 
(817
)
 
17,729

Total
 
$
185,749

 
$
119

 
$
(7,723
)
 
$
178,145

 
 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Estimated Fair Value
Available for sale:
 
 
 
 
 
 
 
 
Mortgage-backed securities
 
$
227,607

 
$
650

 
$
(3,210
)
 
$
225,047

Utah Housing Corporation bonds
 
20,000

 
—

 
(959
)
 
19,041

Total
 
$
247,607

 
$
650

 
$
(4,169
)
 
$
244,088
Available-for-sale securities, continuous unrealized loss position, fair value
The following table summarizes the amount of gross unrealized losses for our mortgage-backed securities and Utah Housing Corporation bonds and the estimated fair value for securities having gross unrealized losses, categorized by length of time the securities have been in an unrealized loss position:
 
 
Less than 12 months
 
12 months or more
 
Total
 
 
Gross Unrealized Losses
 
Estimated Fair Value
 
Gross Unrealized Losses
 
Estimated Fair Value
 
Gross Unrealized Losses
 
Estimated Fair Value
As of June 30, 2018:
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
 
$
(1,568
)
 
$
49,747

 
$
(5,338
)
 
$
107,182

 
$
(6,906
)
 
$
156,929

Utah Housing Corporation bonds
 
—

 
—

 
(817
)
 
17,729

 
(817
)
 
17,729

Total
 
$
(1,568
)
 
$
49,747

 
$
(6,155
)
 
$
124,911

 
$
(7,723
)
 
$
174,658

 
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2017:
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
 
$
(772
)
 
$
77,356

 
$
(2,438
)
 
$
110,500

 
$
(3,210
)
 
$
187,856

Utah Housing Corporation bonds
 
(77
)
 
4,923

 
(882
)
 
14,118

 
(959
)
 
19,041

Total
 
$
(849
)
 
$
82,279

 
$
(3,320
)
 
$
124,618

 
$
(4,169
)
 
$
206,897
Schedule of amortized cost and fair value of securities, by contractual maturities
As of June 30, 2018, the amortized cost and fair value of securities, by contractual maturities, are summarized below. Contractual maturities versus actual maturities may differ due to the effect of prepayments.
Year of Maturity
 
Amortized Cost
 
Estimated Fair Value
2038
 
$
269

 
$
284

2039
 
3,099

 
3,203

2042
 
10,099

 
9,381

2043
 
15,371

 
14,823

2044
 
24,183

 
23,464

2045
 
28,117

 
26,883

2046
 
41,807

 
39,789

2047
 
59,890

 
57,416

2048
 
2,914

 
2,902

Total
 
$
185,749

 
$
178,145