FAIR VALUE (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of financial assets (liabilities) measured at fair value on a recurring basis

The following table presents financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2019 and 2018:

(in thousands)
				Quoted Prices
				in Active		Significant
				Markets for		Other		Significant
				Identical		Observable		Unobservable
		Fair Value		Assets		Inputs		Inputs
		Measurements		(Level 1)		(Level 2)		(Level 3)
December 31, 2019
Mortgage-backed securities	$	217,841	$	-	$	217,841	$	-
Orchid Island Capital, Inc. common stock		8,892		8,892		-		-
TBA securities		(59)		-		(59)		-
December 31, 2018
Mortgage-backed securities	$	212,424	$	-	$	212,424	$	-
Orchid Island Capital, Inc. common stock		9,713		9,713		-		-
TBA securities		(938)		-		(938)		-

Changes is Level 3 Assets Measured at Fair Value on a Recurring Basis

The following table illustrates a roll forward for all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the years ended December 31, 2019 and 2018:

(in thousands)
		Retained Interests
		2019		2018
Balances, January 1	$	-	$	653
Gain included in earnings		315		1,103
Collections		(315)		(1,756)
Balances, December 31	$	-	$	-