Investments (Tables)

6 Months Ended

Jun. 30, 2020

Investments [Abstract]

Amortized Cost and Fair Value of AFS Securities and Corresponding Amounts of Gross Unrealized Gains and Losses

The amortized cost and fair value of our available-for-sale (“AFS”) securities and the corresponding amounts of gross unrealized gains and losses at the dates indicated were as follows (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
June 30, 2020
Municipal bonds	$	4,161	$	202	$	—	$	4,363
Agency mortgage-backed securities	5,706		129		—		5,835
Total	$	9,867	$	331	$	—	$	10,198
December 31, 2019
Municipal bonds	$	3,197	$	173	$	—	$	3,370
Agency mortgage-backed securities	5,888		56		(8)		5,936
Total	$	9,085	$	229	$	(8)	$	9,306

Amortized Cost and Fair Value of Investments Available-for-Sale by Contractual Maturity

The amortized cost and fair value of AFS securities at June 30, 2020, by contractual maturity, are shown below (in thousands). Expected maturities of AFS securities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Investments not due at a single maturity date, primarily mortgage-backed investments, are shown separately.

	June 30, 2020
	Amortized Cost		Fair Value
Due within one year	$	1,043	$	1,046
Due after one year through five years	490		508
Due after five years through ten years	1,433		1,485
Due after ten years	1,195		1,324
Mortgage-backed securities	5,706		5,835
Total	$	9,867	$	10,198

Aggregate Fair Value and Gross Unrealized Loss in Continuous Unrealized Loss Position

The following table summarizes the aggregate fair value and gross unrealized loss by length of time of those investments that have been in a continuous unrealized loss position at December 31, 2019 (in thousands):

	December 31, 2019
	Less Than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Municipal bonds	$	3,387	$	(8)	$	—	$	—	$	3,387	$	(8)
Total	$	3,387	$	(8)	$	—	$	—	$	3,387	$	(8)