| Investment Securities |
Investment Securities Our available-for-sale investment securities were as follows: | | | | | | | | | | | | | | | | | | Amortized cost | | Gross unrealized gains | | Gross unrealized losses | | Fair value | June 30, 2013 | (In thousands) | Corporate bonds | $ | 38,961 |
| | $ | 29 |
| | $ | (25 | ) | | $ | 38,965 |
| Commercial paper | 58,949 |
| | 23 |
| | (2 | ) | | 58,970 |
| Negotiable certificate of deposit | 4,400 |
| | 9 |
| | — |
| | 4,409 |
| U.S. Treasury notes | 2,301 |
| | 3 |
| | — |
| | 2,304 |
| Agency securities | 26,515 |
| | 7 |
| | (18 | ) | | 26,504 |
| Mortgage-backed securities | 1,206 |
| | — |
| | (59 | ) | | 1,147 |
| Municipal bonds | 19,600 |
| | 20 |
| | (30 | ) | | 19,590 |
| Asset-backed securities | 20,590 |
| | 9 |
| | (21 | ) | | 20,578 |
| Total investment securities | $ | 172,522 |
| | $ | 100 |
| | $ | (155 | ) | | $ | 172,467 |
| | | | | | | | | December 31, 2012 | | | | | | | | Corporate bonds | $ | 37,320 |
| | $ | 39 |
| | $ | (2 | ) | | $ | 37,357 |
| Commercial paper | 55,733 |
| | 17 |
| | (2 | ) | | 55,748 |
| Negotiable certificate of deposit | 4,400 |
| | 14 |
| | — |
| | 4,414 |
| U.S. Treasury notes | 22,258 |
| | 9 |
| | — |
| | 22,267 |
| Agency securities | 25,845 |
| | 23 |
| | (1 | ) | | 25,867 |
| Municipal bonds | 11,528 |
| | 43 |
| | (3 | ) | | 11,568 |
| Asset-backed securities | 26,533 |
| | 33 |
| | — |
| | 26,566 |
| Total investment securities | $ | 183,617 |
| | $ | 178 |
| | $ | (8 | ) | | $ | 183,787 |
|
As of June 30, 2013 and December 31, 2012, 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 | | | June 30, 2013 | (In thousands) | Corporate bonds | $ | 19,226 |
| | $ | (25 | ) | | $ | — |
| | $ | — |
| | $ | 19,226 |
| | $ | (25 | ) | Commercial paper | 8,384 |
| | (2 | ) | | — |
| | — |
| | 8,384 |
| | (2 | ) | Agency securities | 13,488 |
| | (18 | ) | | — |
| | — |
| | 13,488 |
| | (18 | ) | Mortgage-backed securities | 1,147 |
| | (59 | ) | | — |
| | — |
| | 1,147 |
| | (59 | ) | Municipal bonds | 11,599 |
| | (30 | ) | | — |
| | — |
| | 11,599 |
| | (30 | ) | Asset-backed securities | 9,846 |
| | (21 | ) | | — |
| | — |
| | $ | 9,846 |
| | $ | (21 | ) | Total investment securities | $ | 63,690 |
| | $ | (155 | ) | | $ | — |
| | $ | — |
| | $ | 63,690 |
| | $ | (155 | ) | | | | | | | | | | | | | December 31, 2012 | | | | | | | | | | | | Corporate bonds | $ | 6,138 |
| | $ | (2 | ) | | $ | — |
| | $ | — |
| | $ | 6,138 |
| | $ | (2 | ) | Commercial paper | 6,390 |
| | (2 | ) | | — |
| | — |
| | 6,390 |
| | (2 | ) | Agency securities | 6,302 |
| | (1 | ) | | — |
| | — |
| | 6,302 |
| | (1 | ) | Municipal bonds | 1,602 |
| | (3 | ) | | — |
| | — |
| | 1,602 |
| | (3 | ) | Total investment securities | $ | 20,432 |
| | $ | (8 | ) | | $ | — |
| | $ | — |
| | $ | 20,432 |
| | $ | (8 | ) |
We did not record any other-than-temporary impairment losses during the three and six-month periods ended June 30, 2013 or 2012 on our available-for-sale investment securities. We do not intend to sell these investments or we have determined that it is more likely than not that we will not be required to sell these investments before recovery of their amortized cost bases, which may be at maturity. Note 3 — Investment Securities (continued) As of June 30, 2013, the contractual maturities of our available-for-sale investment securities were as follows: | | | | | | | | | | Amortized cost | | Fair value | | (In thousands) | Due in one year or less | $ | 103,666 |
| | $ | 103,713 |
| Due after one year through five years | 45,511 |
| | 45,493 |
| Due after five years through ten years | 1,049 |
| | 1,049 |
| Due after ten years | 500 |
| | 487 |
| Mortgage and asset-backed securities | 21,796 |
| | 21,725 |
| Total investment securities | $ | 172,522 |
| | $ | 172,467 |
|
The expected payments on mortgage-backed and asset-backed securities may not coincide with their contractual maturities because the issuers have the right to call or prepay certain obligations. |