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Securities Held-to-Maturity
 3 Months Ended
Mar. 31, 2020
Text Block [Abstract]  
Securities Held-to-Maturity
6. Securities
Held-to-Maturity
The following table is a summary of the Company’s securities
held-to-maturity:
 
March 31,
2020
 
  
December 31,
2019
 
Debt instruments: Pass-through GSEs (amortized cost)
  $
10,864
    $
16,863
 
                 
During the three months ended March 31, 2020, the Company received proceeds of $6,030 from
held-to-maturity
securities maturing or being called prior to maturity.
The following table summarizes unrealized gains, losses, and fair value (classified as Level 2 within the fair value hierarchy) of securities
held-to-maturity:
 
March 31,
2020
 
  
December 31,
2019
 
Cost/amortized cost
  $
10,864
    $
16,863
 
Gross unrealized gains
   
102
     
38
 
Gross unrealized losses
   
(17
 )    
(297
 )
                 
Fair value
  $
10,949
    $
16,604
 
                 
An allowance for credit losses was not provided on the Company’s
held-to-maturity
securities as all securities are investments in pass-through GSEs which are determined to have an estimated loss rate of zero due to an implicit U.S. government guarantee. In addition, no securities were determined to be other-than-temporarily impaired at December 31, 2019.
The following table sets forth the maturity profile of the securities
held-to-maturity;
however, these securities may be called prior to maturity date:
                 
 
March 31,
2020
 
  
December 31,
2019
 
Due within one year
  $
—  
     $
—  
  
Due one year through five years
   
2,000
     
2,000
 
Due five years through ten years
   
3,494
     
7,494
 
Due over ten years
   
5,370
     
7,369
 
                 
Total
  $
10,864
    $
16,863