Investments in Marketable Debt Securities (Tables)
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12 Months Ended |
Dec. 31, 2020 |
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| Investments, Debt and Equity Securities [Abstract] |
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| Schedule of Amortized Cost, Allowance for Credit Losses, Gross Unrealized Gains/Losses in Accumulated Other Comprehensive Income/Loss and Fair Value of Marketable Securities, Available-for-Sale, by Type of Security |
Amortized cost, allowance for credit losses, gross unrealized gains/losses in accumulated other comprehensive income/loss and fair value of marketable debt securities, by type of security consisted of the following (in thousands):
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$ |
75,887 |
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$ |
— |
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$ |
88 |
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$ |
(5 |
) |
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$ |
75,970 |
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U.S. government sponsored entities |
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32,439 |
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— |
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8 |
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— |
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32,447 |
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49,822 |
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— |
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20 |
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(1 |
) |
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49,841 |
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$ |
158,148 |
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$ |
— |
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$ |
116 |
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$ |
(6 |
) |
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$ |
158,258 |
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$ |
3,375 |
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$ |
— |
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$ |
266 |
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$ |
— |
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$ |
3,641 |
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U.S. government sponsored entities |
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1,114 |
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— |
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38 |
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— |
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1,152 |
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34,183 |
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— |
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2,137 |
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(33 |
) |
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36,287 |
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6,509 |
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— |
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195 |
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(11 |
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6,693 |
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$ |
45,181 |
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$ |
— |
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$ |
2,636 |
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$ |
(44 |
) |
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$ |
47,773 |
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$ |
124,389 |
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$ |
196 |
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$ |
(5 |
) |
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$ |
124,580 |
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26,128 |
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44 |
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— |
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26,172 |
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$ |
150,517 |
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$ |
240 |
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$ |
(5 |
) |
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$ |
150,752 |
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$ |
24,188 |
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$ |
235 |
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$ |
— |
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$ |
24,423 |
|
U.S. government sponsored entities |
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1,353 |
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3 |
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(1 |
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1,355 |
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25,447 |
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1,027 |
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(3 |
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26,471 |
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8,480 |
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93 |
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(13 |
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8,560 |
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$ |
59,468 |
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$ |
1,358 |
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$ |
(17 |
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$ |
60,809 |
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| Available-for-Sale Debt Securities in a Continuous Unrealized Loss Position |
The Company’s investments in debt securities that have been in a continuous unrealized loss position, for which an allowance for credit losses has not been recorded, by type of security consisted of the following (in thousands):
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$ |
41,702 |
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$ |
(5 |
) |
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$ |
— |
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$ |
— |
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$ |
41,702 |
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$ |
(5 |
) |
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29,810 |
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(34 |
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— |
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— |
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29,810 |
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(34 |
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546 |
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(6 |
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157 |
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(5 |
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703 |
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(11 |
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$ |
72,058 |
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$ |
(45 |
) |
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$ |
157 |
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$ |
(5 |
) |
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$ |
72,215 |
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$ |
(50 |
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$ |
39,823 |
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$ |
(5 |
) |
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$ |
— |
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$ |
— |
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$ |
39,823 |
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$ |
(5 |
) |
U.S. government sponsored entities |
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— |
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— |
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|
566 |
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(1 |
) |
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566 |
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(1 |
) |
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6,029 |
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(3 |
) |
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— |
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— |
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6,029 |
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(3 |
) |
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1,971 |
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(13 |
) |
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— |
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— |
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1,971 |
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(13 |
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$ |
47,823 |
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$ |
(21 |
) |
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$ |
566 |
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$ |
(1 |
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$ |
48,389 |
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$ |
(22 |
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| Gross Realized Gains and Losses from Sale of Available for Sale Debt Securities |
Gross realized gains and losses from the sales of the Company’s debt securities consisted of the following (in thousands):
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$ |
241 |
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$ |
134 |
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$ |
12 |
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Gross realized losses (1)
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$ |
(49 |
) |
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$ |
(47 |
) |
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$ |
(2 |
) |
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(1) |
Recorded in other income (expense), net in the consolidated statements of net and comprehensive income. The cost basis of securities sold were determined based on the specific identification method. |
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| Schedule of Amortized Cost and Fair Value of Marketable Debt Securities, Available-for-Sale, by Contractual Maturity |
Amortized cost and fair value of marketable debt securities, by contractual maturity consisted of the following (in thousands, except weighted average data):
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$ |
158,148 |
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$ |
158,258 |
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$ |
150,517 |
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$ |
150,752 |
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Due after one year through five years |
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30,604 |
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32,041 |
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41,123 |
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41,794 |
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Due after five years through ten years |
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10,022 |
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11,044 |
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12,813 |
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13,467 |
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4,555 |
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4,688 |
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5,532 |
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5,548 |
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$ |
203,329 |
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$ |
206,031 |
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$ |
209,985 |
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$ |
211,561 |
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Weighted average contractual maturity |
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1.6 years |
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1.7 years |
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