Investments (Tables)

6 Months Ended

Jun. 30, 2019

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, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Available for sale:
Mortgage-backed securities	$	233,210	$	1,196	$	(1,445	)	$	232,961
Utah Housing Corporation bonds	21,136		181		(70		)	21,247
U.S. government-sponsored enterprises	77,173		160		—			77,333
Total	$	331,519	$	1,537	$	(1,515	)	$	331,541
	December 31, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Available for sale:
Mortgage-backed securities	$	159,937	$	155	$	(5,517	)	$	154,575
Utah Housing Corporation bonds	22,388		23		(741		)	21,670
Total	$	182,325	$	178	$	(6,258	)	$	176,245

Available-for-sale securities, continuous unrealized loss position, fair value

The following table summarizes the amount of gross unrealized losses for our available for sale securities and the estimated fair value for securities having gross unrealized loss positions, 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, 2019:
Mortgage-backed securities	$	(6	)	$	10,815	$	(1,439	)	$	101,969	$	(1,445	)	$	112,784
Utah Housing Corporation bonds	—			—		(70		)	11,955		(70		)	11,955
U.S. government-sponsored enterprises	—			—		—			—		—			—
Total	$	(6	)	$	10,815	$	(1,509	)	$	113,924	$	(1,515	)	$	124,739
As of December 31, 2018:
Mortgage-backed securities	$	(228	)	$	16,948	$	(5,289	)	$	125,537	$	(5,517	)	$	142,485
Utah Housing Corporation bonds	—			—		(741		)	16,647		(741		)	16,647
Total	$	(228	)	$	16,948	$	(6,030	)	$	142,184	$	(6,258	)	$	159,132

Amortized cost and fair value of securities by contractual maturities

As of June 30, 2019, 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
2020	$	39,484	$	39,545
2021	37,689		37,787
2038	262		282
2039	2,907		3,065
2042	8,021		7,800
2043	13,727		13,776
2044	20,078		20,090
2045	22,915		22,728
2046	35,609		35,195
2047	53,183		52,759
2048	15,159		15,511
2049	82,485		83,003
Total	$	331,519	$	331,541