Investment Securities (Tables)

9 Months Ended

Sep. 30, 2011

Investment Securities

Schedule of investment securities

	Amortized		Unrealized	Unrealized
September 30, 2011	cost		gains	losses		Fair value
	(in thousands)
Available for sale securities:
Mortgage-backed securities	$	10	1	—		11
Municipal bonds	2,548		—	(38	)	2,510
Corporate bonds	43,065		24	(232	)	42,857
Mutual funds	51,456		2,081	(7,606	)	45,931
	$	97,079	2,106	(7,876	)	91,309
Trading securities:
Mortgage-backed securities						64
Municipal bonds						500
Corporate bonds						12,924
Common stock						35
Mutual funds						18,744
						32,267
Total investment securities						123,576

	Amortized		Unrealized	Unrealized
December 31, 2010	cost		gains	losses		Fair value
	(in thousands)
Available for sale securities:
U.S. treasury bills	$	56,961	—	—		56,961
Mortgage-backed securities	10		2	—		12
Municipal bonds	2,729		—	(185	)	2,544
Mutual funds	28,633		5,662	(37	)	34,258
	$	88,333	5,664	(222	)	93,775
Trading securities:
Commercial paper						4,997
U.S. treasury bills						60,958
Mortgage-backed securities						73
Municipal bonds						487
Corporate bonds						50
Common stock						201
Mutual funds						32,070
						98,836
Total investment securities						192,611

Summary of investments with fair values below carrying values

	Less than 12 months				12 months or longer			Total
September 30, 2011	Fair value		Unrealized losses		Fair value	Unrealized losses		Fair value	Unrealized losses
	(in thousands)
Municipal bonds	$	—	—		2,511	(38	)	2,511	(38	)
Corporate bonds	24,378		(232	)	—	—		24,378	(232	)
Mutual funds	35,424		(7,588	)	322	(18	)	35,746	(7,606	)
Total temporarily impaired securities	$	59,802	(7,820	)	2,833	(56	)	62,635	(7,876	)

	Less than 12 months				12 months or longer			Total
December 31, 2010	Fair value		Unrealized losses		Fair value	Unrealized losses		Fair value	Unrealized losses
	(in thousands)
Municipal bonds	$	—	—		2,544	(185	)	2,544	(185	)
Mutual funds	810		(10	)	313	(27	)	1,123	(37	)
Total temporarily impaired securities	$	810	(10	)	2,857	(212	)	3,667	(222	)

Schedule of available for sale securities by maturity date

	Amortized cost		Fair value
	(in thousands)
Within one year	$	14,845	14,684
After one year but within 10 years	29,777		29,718
After 10 years	1,001		976
	$	45,623	45,378

Schedule of trading securities by maturity date

	Fair value
	(in thousands)
After one year but within 10 years	$	13,424
After 10 years	64
	$	13,488

Schedule of fair value of investment securities

	September 30,		December 31,
	2011		2010
	(in thousands)
Level 1	$	64,710	189,445
Level 2	58,866		3,166
Level 3	—		—
Total	$	123,576	192,611