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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2019
Fair Value Disclosures [Abstract] |
Fair Value of Assets and Liabilities Measured at Fair Value on Recurring Basis | The following tables present the fair value of assets and liabilities measured at fair value on a recurring basis as of September 30, 2019 and December 31, 2018 (dollars in thousands):
|  | As of September 30, 2019 |
|  | Fair Value Measured and Recorded Using |  |  |  |  |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available for sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury securities |  | $ | 6,818 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,818 |
Debt securities issued by U.S. federal agencies |  |  | — |  |  |  | 11,137 |  |  |  | — |  |  |  | 11,137 |
Corporate debt securities |  |  | — |  |  |  | 27,463 |  |  |  | — |  |  |  | 27,463 |
Asset-backed securities |  |  | — |  |  |  | 5,159 |  |  |  | — |  |  |  | 5,159 |
Collateralized mortgage obligations |  |  | — |  |  |  | 2,251 |  |  |  | — |  |  |  | 2,251 |
Total available for sale debt securities |  |  | 6,818 |  |  |  | 46,010 |  |  |  | — |  |  |  | 52,828 |
Equity securities |  |  | 78,547 |  |  |  | — |  |  |  | — |  |  |  | 78,547 |
Warehouse receivables and advance warehouse funding |  |  | — |  |  |  | 1,364,630 |  |  |  | — |  |  |  | 1,364,630 |
Total assets at fair value |  | $ | 85,365 |  |  | $ | 1,410,640 |  |  | $ | — |  |  | $ | 1,496,005 |
|  | As of December 31, 2018 |
|  | Fair Value Measured and Recorded Using |  |  |  |  |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available for sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury securities |  | $ | 3,138 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,138 |
Debt securities issued by U.S. federal agencies |  |  | — |  |  |  | 11,196 |  |  |  | — |  |  |  | 11,196 |
Corporate debt securities |  |  | — |  |  |  | 27,201 |  |  |  | — |  |  |  | 27,201 |
Asset-backed securities |  |  | — |  |  |  | 5,017 |  |  |  | — |  |  |  | 5,017 |
Collateralized mortgage obligations |  |  | — |  |  |  | 2,224 |  |  |  | — |  |  |  | 2,224 |
Total available for sale debt securities |  |  | 3,138 |  |  |  | 45,638 |  |  |  | — |  |  |  | 48,776 |
Equity securities |  |  | 153,762 |  |  |  | — |  |  |  | — |  |  |  | 153,762 |
Warehouse receivables |  |  | — |  |  |  | 1,342,468 |  |  |  | — |  |  |  | 1,342,468 |
Total assets at fair value |  | $ | 156,900 |  |  | $ | 1,388,106 |  |  | $ | — |  |  | $ | 1,545,006 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | — |  |  | $ | 1,070 |  |  | $ | — |  |  | $ | 1,070 |
Securities sold, not yet purchased |  |  | 3,133 |  |  |  | — |  |  |  | — |  |  |  | 3,133 |
Total liabilities at fair value |  | $ | 3,133 |  |  | $ | 1,070 |  |  | $ | — |  |  | $ | 4,203 |
Summary of Non-Recurring Fair Value Measurement | There were no significant non-recurring fair value measurements recorded during the three months ended September 30, 2019. The following non-recurring fair value measurement was recorded for the nine months ended September 30, 2019 (dollars in thousands):
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Total |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Impairment Charges |
| Net Carrying Value |  |  | Fair Value Measured and |  |  | for the |
| as of |  |  | Recorded Using |  |  | Nine Months Ended |
| September 30, 2019 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | September 30, 2019 |
Other intangible assets | $ | 16,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 16,000 |  |  | $ | 89,037 |

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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