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Note 9 - Fair Value Disclosures (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

										Significant				Significant
						Quoted Prices in				Other Observable				Unobservable
						Active Markets				Inputs				Inputs
Assets		Fair Value				(Level 1)				(Level 2)				(Level 3)
Investments-trading:
U.S. government agency MBS and CMOs		$	162,031			$	-			$	162,031			$	-
U.S. government agency debt securities			6,904				-				6,904				-
RMBS			14				-				14				-
U.S. Treasury securities			607				607				-				-
ABS			1				-				1				-
SBA loans			2,742				-				2,742				-
Corporate bonds and redeemable preferred stock			36,388				-				36,388				-
Foreign government bonds			659				-				659				-
Municipal bonds			19,400				-				19,400				-
Certificates of deposit			70				-				70				-
Derivatives			13,717				-				13,717				-
Equity securities			428				-				428				-
Total investments - trading		$	242,961			$	607			$	242,354			$	-
Other investments, at fair value:
Equity securities		$	51,593			$	17,422			$	34,171			$	-
Corporate bonds and redeemable preferred stock			476				-				476				-
Subordinated Notes			1,519				-				1,519				-
RTLs			2,300				-				2,300				-
Residential loans			104				-				104				-
			55,992			$	17,422			$	38,570			$	-
Investments measured at NAV (1)			2,548
Total other investments, at fair value		$	58,540
Liabilities
Trading securities sold, not yet purchased:
U.S. Treasury securities		$	3,348			$	3,348			$	-			$	-
Corporate bonds and redeemable preferred stock			29,206				-				29,206				-
Municipal bonds			20				-				20				-
Derivatives			11,822				-				11,822				-
Equity securities			43				43				-				-
Total trading securities sold, not yet purchased		$	44,439			$	3,391			$	41,048			$	-

Other investments, sold not yet purchased:
Derivatives		$	233			$	233			$	-			$	-
Equity securities			7,182				7,182				-				-
		$	7,415			$	7,415			$	-			$	-

										Significant				Significant
						Quoted Prices in				Other Observable				Unobservable
						Active Markets				Inputs				Inputs
Assets		Fair Value				(Level 1)				(Level 2)				(Level 3)
Investments-trading:
U.S. government agency MBS and CMOs		$	196,146			$	-			$	196,146			$	-
U.S. government agency debt securities			14,680				-				14,680				-
RMBS			15				-				15				-
U.S. Treasury securities			11,105				11,105				-				-
ABS			100				-				100				-
SBA loans			27,634				-				27,634				-
Corporate bonds and redeemable preferred stock			38,503				-				38,503				-
Foreign government bonds			844				-				844				-
Municipal bonds			13,737				-				13,737				-
Certificates of deposit			841				-				841				-
Derivatives			3,686				-				3,686				-
Equity securities			561				-				561				-
Total investments - trading		$	307,852			$	11,105			$	296,747			$	-
Other investments, at fair value:
Equity Securities		$	8,875			$	2,009			$	6,866			$	-
Corporate bonds and redeemable preferred stock			477				-				477				-
CLOs			2,522				-				-				2,522
Residential loans			99				-				99				-
			11,973			$	2,009			$	7,442			$	2,522
Investments measured at NAV (1)			2,891
Total other investments, at fair value		$	14,864
Liabilities
Trading securities sold, not yet purchased:
U.S. Treasury securities		$	16,827			$	16,827			$	-			$	-
Corporate bonds and redeemable preferred stock			58,083				-				58,083				-
Municipal bonds			20				-				20				-
Derivatives			3,017				-				3,017				-
Total trading securities sold, not yet purchased		$	77,947			$	16,827			$	61,120			$	-

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

		Year Ended December 31,
		2020				2019
Beginning of Period		$	2,522			$	2,756
Net trading			(57	)			-
Gains & losses (1)			(604	)			(123	)
Accretion of income (1)			124				414
Purchases			638				-
Sales and returns of capital			(5,601	)			(525	)
Reclassification of RTLs			5,278				-
Transfer out of Level 3 (2)			(2,300	)			-
End of Period		$	-			$	2,522
Change in unrealized gains / (losses) (3)		$	-			$	(4	)

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

Significant

Range of

Fair Value

Valuation

Unobservable

Weighted

Significant

December 31, 2019

Technique

Inputs

Average

Inputs

Assets

Other investments, at fair value

CLOs

$

2,522

Discounted Cash Flow Model

Yield

17.9

%

16.9% - 19.2%

Duration (years)

5.8

5.3 - 6.5

Default rate

2.0

%

2.0% - 2.0%

Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Table Text Block]

December 31, 2020

Unfunded Commitments

Redemption Frequency

Redemption Notice Period

Other investments, at fair value

U.S. Insurance JV (a)

$

1,564

$

1,567

N/A

N/A

SPAC Funds (b)

984

N/A

Quarterly after 1 year lock up

90 days

$

2,548

December 31, 2019

Unfunded Commitments

Redemption Frequency

Redemption Notice Period

Other investments, at fair value

U.S. Insurance JV (a)

$

2,223

$

817

N/A

N/A

SPAC Funds (b)

668

NA

Quarterly after 1 year lock up

90 days

$

2,891

X

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