Investment Securities (Tables)

6 Months Ended

Jun. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Schedule of available-for-sale investment securities

Our available-for-sale investment securities were as follows:

	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
	(In thousands)
June 30, 2020
Corporate bonds	$	10,000	$	58	$	—	$	10,058
Agency bond securities	15,000		44		—		15,044
Agency mortgage-backed securities	189,533		2,320		(49)		191,804
Municipal bonds	4,275		143		—		4,418
Asset-backed securities	19,896		314		—		20,210
Total investment securities	$	238,704	$	2,879	$	(49)	$	241,534
December 31, 2019
Corporate bonds	$	10,000	$	12	$	—	$	10,012
Agency bond securities	19,980		20		—		20,000
Agency mortgage-backed securities	208,821		2,453		(241)		211,033
Municipal bonds	4,342		2		(2)		4,342
Asset-backed securities	31,814		238		—		32,052
Total investment securities	$	274,957	$	2,725	$	(243)	$	277,439

Schedule of available-for-sale securities, unrealized loss position

As of June 30, 2020 and December 31, 2019, 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)
June 30, 2020
Agency mortgage-backed securities	$	6,768	$	(45)	$	1,371	$	(4)	$	8,139	$	(49)
December 31, 2019
Agency mortgage-backed securities	$	43,337	$	(153)	$	8,735	$	(88)	$	52,072	$	(241)
Municipal bonds	—		—		113		(2)		113		(2)
Total investment securities	$	43,337	$	(153)	$	8,848	$	(90)	$	52,185	$	(243)

Schedule of maturity dates for available-for-sale investment securities

As of June 30, 2020, the contractual maturities of our available-for-sale investment securities were as follows:

	Amortized cost		Fair value
	(In thousands)
Due after one year through five years	10,000		10,058
Due after five years through ten years	10,000		10,000
Due after ten years	9,275		9,462
Mortgage and asset-backed securities	209,429		212,014
Total investment securities	$	238,704	$	241,534