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Investment Securities (Tables) | 9 Months Ended
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Sep. 30, 2019
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, 2019 |
Corporate bonds | $ | 10,000 |  |  | $ | 28 |  |  | $ | — |  |  | $ | 10,028 |
Negotiable certificate of deposit | 5,000 |  |  | — |  |  | — |  |  | 5,000 |
Agency bond securities | 10,000 |  |  | 27 |  |  | — |  |  | 10,027 |
Agency mortgage-backed securities | 162,582 |  |  | 2,600 |  |  | (82 | ) |  | 165,100 |
Municipal bonds | 352 |  |  | 4 |  |  | (1 | ) |  | 355 |
Asset-backed securities | 54,420 |  |  | 289 |  |  | — |  |  | 54,709 |
Total investment securities | $ | 242,354 |  |  | $ | 2,948 |  |  | $ | (83 | ) |  | $ | 245,219 |
December 31, 2018 |  |  |  |  |  |  |
Negotiable certificate of deposit | $ | 15,000 |  |  | $ | — |  |  | $ | — |  |  | $ | 15,000 |
Agency bond securities | 19,723 |  |  | 6 |  |  | (36 | ) |  | 19,693 |
Agency mortgage-backed securities | 87,156 |  |  | 53 |  |  | (396 | ) |  | 86,813 |
Municipal bonds | 507 |  |  | — |  |  | (24 | ) |  | 483 |
Asset-backed securities | 79,274 |  |  | 14 |  |  | (94 | ) |  | 79,194 |
Total investment securities | $ | 201,660 |  |  | $ | 73 |  |  | $ | (550 | ) |  | $ | 201,183 |
Schedule of available-for-sale securities, unrealized loss position | As of September 30, 2019 and December 31, 2018, 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, 2019 |
Agency mortgage-backed securities | $ | 9,999 |  |  | $ | (26 | ) |  | $ | 5,472 |  |  | $ | (56 | ) |  | $ | 15,471 |  |  | $ | (82 | )
Municipal bonds | — |  |  | — |  |  | 124 |  |  | (1 | ) |  | 124 |  |  | (1 | )
Total investment securities | $ | 9,999 |  |  | $ | (26 | ) |  | $ | 5,596 |  |  | $ | (57 | ) |  | $ | 15,595 |  |  | $ | (83 | )
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |
Agency bond securities | $ | 14,937 |  |  | $ | (36 | ) |  | $ | — |  |  | $ | — |  |  | $ | 14,937 |  |  | $ | (36 | )
Agency mortgage-backed securities | 28,939 |  |  | (103 | ) |  | 8,743 |  |  | (293 | ) |  | 37,682 |  |  | (396 | )
Municipal bonds | 353 |  |  | (14 | ) |  | 130 |  |  | (10 | ) |  | 483 |  |  | (24 | )
Asset-backed securities | 50,980 |  |  | (70 | ) |  | 7,333 |  |  | (24 | ) |  | 58,313 |  |  | (94 | )
Total investment securities | $ | 95,209 |  |  | $ | (223 | ) |  | $ | 16,206 |  |  | $ | (327 | ) |  | $ | 111,415 |  |  | $ | (550 | )
Schedule of maturity dates for available-for-sale investment securities | As of September 30, 2019, 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 | $ | 15,000 |  |  | $ | 15,027 |
Due after one year through five years | 10,000 |  |  | 10,028 |
Due after five years through ten years | — |  |  | — |
Due after ten years | 352 |  |  | 355 |
Mortgage and asset-backed securities | 217,002 |  |  | 219,809 |
Total investment securities | $ | 242,354 |  |  | $ | 245,219 |

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