INVESTMENT SECURITIES (Tables)

9 Months Ended

Sep. 30, 2022

INVESTMENT SECURITIES

Schedule of held-to-maturity securities

The following tables summarize our investment securities at September 30, 2022 and December 31, 2021:

	September 30, 2022
	Amortized		Gross		Gross
	cost, as		unrealized		unrealized		Estimated
(in thousands)	adjusted		holding gains		holding losses		fair value
Short-term investments:
Obligations of domestic governmental agencies (maturing between October 2022 and September 2023) (held-to-maturity)	$	66,082	$		$	924	$	65,158
Long-term investments:
Obligations of domestic governmental agencies (maturing between October 2023 and February 2024) (held-to-maturity)		21,766				824		20,942
Total short-term and long-term investment securities	$	87,848	$	—	$	1,748	$	86,100
	December 31, 2021
	Amortized		Gross		Gross
	cost, as		unrealized		unrealized		Estimated fair
	adjusted		holding gains		holding losses		value
Short-term investments:
Obligations of domestic governmental agencies (maturing between January 2022 and April 2022) (held-to-maturity)	$	15,876	$	—	$	4	$	15,872
Long-term investments:
Obligations of domestic governmental agencies (maturing between February 2023 and June 2023) (held-to-maturity)		35,533				160		35,373
Total short-term and long-term investment securities	$	51,409	$	—	$	164	$	51,245