Investment Securities (Tables)

9 Months Ended

Sep. 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)
September 30, 2020
Corporate bonds	$	10,000	$	92	$	—	$	10,092
Agency bond securities	55,000		45		(114)		54,931
Agency mortgage-backed securities	212,126		3,059		—		215,185
Municipal bonds	13,972		219		(241)		13,950
Asset-backed securities	14,921		295		—		15,216
Total investment securities	$	306,019	$	3,710	$	(355)	$	309,374
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 September 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)
September 30, 2020
Agency bond securities	$	29,886	$	(114)	$	—	$	—	$	29,886	$	(114)
Municipal bonds	4,618		(241)		—		—		4,618		(241)
Total investment securities	$	34,504	$	(355)	$	—	$	—	$	34,504	$	(355)
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 September 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	$	10,092
Due after five years through ten years	50,000		49,886
Due after ten years	18,972		18,995
Mortgage and asset-backed securities	227,047		230,401
Total investment securities	$	306,019	$	309,374