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Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2013
Financial Instruments [Abstract]  
Schedule Of Trading Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INVESTMENTS - TRADING

(Dollars in Thousands)

 

 

 

 

 

 

 

 

 

June 30, 2013

 

December 31, 2012

U.S. government agency MBS and CMOs (1)

 

$
42,399 

 

$
34,592 

U.S. government agency debt securities

 

 
18,079 

 

 
21,066 

RMBS

 

 
5,831 

 

 
583 

CMBS

 

 
266 

 

 
12 

U.S. Treasury securities

 

 
8,596 

 

 
147 

Interests in securitizations (2)

 

 
3,680 

 

 
352 

SBA loans

 

 
34,441 

 

 
15,705 

Corporate bonds and redeemable preferred stock

 

 
39,847 

 

 
56,022 

Foreign government bonds

 

 
4 

 

 
448 

Municipal bonds

 

 
16,444 

 

 
37,745 

Exchange traded funds

 

 
6 

 

 

 -

Certificates of deposit

 

 
6,982 

 

 
8,934 

Equity securities

 

 
300 

 

 
533 

    Investments-trading

 

$
176,875 

 

$
176,139 

 

(1)    Includes TBAs. See note 8. 

(2)            Primarily comprised of CDOs, CLOs, and ABS.

Schedule Of Trading Securities Sold, Not Yet Purchased

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TRADING SECURITIES SOLD, NOT YET PURCHASED

(Dollars in Thousands)

 

 

 

 

 

 

 

 

 

June 30, 2013

 

December 31, 2012

U.S. government agency MBS (1)

 

$
561 

 

$
13 

U.S. Treasury securities

 

 
46,958 

 

 
19,722 

Corporate bonds and redeemable preferred stock

 

 
21,184 

 

 
21,976 

Foreign government bonds

 

 
67 

 

 

 -

Municipal bonds

 

 
129 

 

 
128 

Exchange traded funds

 

 
99 

 

 

 -

Certificates of deposit

 

 
5,364 

 

 
2,325 

Equity securities

 

 

 -

 

 
3 

    Trading securities sold, not yet purchased

 

$
74,362 

 

$
44,167 

 

(1)    Represents TBAs. See note 8. 

Schedule Of Other Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OTHER INVESTMENTS, AT FAIR VALUE

(Dollars in Thousands)

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2013

 

 

Cost

 

Carrying Value

 

Unrealized Gain(Loss)

Interests in securitizations (1)

 

$
217 

 

$
58 

 

$
(159)

Equity Securities:

 

 

 

 

 

 

 

 

 

EuroDekania

 

 
7,807 

 

 
2,040 

 

 
(5,767)

Star Asia

 

 
23,304 

 

 
20,935 

 

 
(2,369)

Star Asia Special Situations Fund

 

 
2,143 

 

 
2,775 

 

 
632 

Tiptree

 

 
5,561 

 

 
2,177 

 

 
(3,384)

Other securities

 

 
176 

 

 
31 

 

 
(145)

Total equity securities

 

 
38,991 

 

 
27,958 

 

 
(11,033)

Residential loans

 

 
210 

 

 
270 

 

 
60 

Foreign currency forward contracts

 

 

 -

 

 
400 

 

 
400 

    Other investments, at fair value

 

$
39,418 

 

$
28,686 

 

$
(10,732)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2012

 

 

Cost

 

Carrying Value

 

Unrealized Gain(Loss)

Interests in securitizations (1)

 

$
217 

 

$
77 

 

$
(140)

Equity Securities:

 

 

 

 

 

 

 

 

 

EuroDekania

 

 
7,807 

 

 
2,054 

 

 
(5,753)

Star Asia

 

 
23,304 

 

 
30,169 

 

 
6,865 

Star Asia Special Situations Fund

 

 
1,841 

 

 
2,503 

 

 
662 

Tiptree

 

 
5,561 

 

 
2,834 

 

 
(2,727)

Other securities

 

 
232 

 

 
431 

 

 
199 

Total equity securities

 

 
38,745 

 

 
37,991 

 

 
(754)

Residential loans

 

 
230 

 

 
255 

 

 
25 

    Other investments, at fair value

 

$
39,192 

 

$
38,323 

 

$
(869)

 

(1)            Represents an interest in a CDO.