XML 24 R12.htm IDEA: XBRL DOCUMENT v3.20.4
INVESTMENTS
 12 Months Ended
Dec. 31, 2020
INVESTMENTS  
INVESTMENTS

4. INVESTMENTS

Below is a summary of the amortized cost and estimated market values of the Company’s marketable securities as of December 31, 2020 and 2019. The estimated market values provided are Level 2 valuations as defined by ASC 820.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2020

​

2019

​

​

Amortized

​

Market

​

Amortized

​

Market

​

    

Cost

    

Value

    

Cost

    

Value

​

​

(Dollars in thousands)

Municipal bonds:

 

​

  

 

​

  

 

​

  

 

​

  

Current

​

$

2,215

​

$

2,249

​

$

5,904

​

$

5,915

Due from one through five years

​

 

7,420

​

 

7,830

​

 

8,336

​

 

8,621

Due from six through ten years

​

 

3,057

​

 

3,608

​

 

4,255

​

 

4,618

Due from eleven through twenty years

​

 

2,323

​

 

2,547

​

 

3,223

​

 

3,430

Total

​

$

15,015

​

$

16,234

​

$

21,718

​

$

22,584

​

The unrealized gains and losses on marketable securities at December 31, 2020 and 2019 were as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2020

​

2019

​

    

Unrealized

    

Unrealized

    

Unrealized

    

Unrealized

​

    

Gains

    

Losses

    

Gains

    

Losses

​

​

(Dollars in thousands)

Municipal bonds

​

$

1,219

​

$

—

​

$

866

​

$

—

​

At each reporting date, the Company reviews its investments to determine whether a decline in fair value below the amortized cost basis is other-than-temporary. To determine whether a decline in value is other-than-temporary, the Company considers all available evidence, including the issuer’s financial condition, the severity and duration of the decline in fair value, and the Company’s intent and ability to hold the investment for a reasonable period of time sufficient for any forecasted recovery. If a decline in value is deemed other-than-temporary, the Company records a reduction in the carrying value to the estimated fair value. The Company determined that no other-than-temporary impairment exists for the years ended December 31, 2020 and 2019.