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Investment Securities (Tables)
 9 Months Ended
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