INVESTMENT SECURITIES

6 Months Ended

Jun. 30, 2019

Investments Debt And Equity Securities [Abstract]

INVESTMENT SECURITIES

NOTE 3 – INVESTMENT SECURITIES

Our investments as of June 30, 2019 and December 31, 2018 are classified as held-to-maturity. Held-to-maturity investments are recorded at amortized cost.

The following tables summarize our investment securities at June 30, 2019 and December 31, 2018:

(in thousands)	June 30, 2019
	Amortized cost, as adjusted		Gross unrealized holding gains		Gross unrealized holding losses		Estimated fair value
Short-term investments:
Obligations of domestic governmental agencies (maturing between July 2019 and June 2020) (held-to-maturity)	$	27,748	$	45	$	—	$	27,793
Total short-term investment securities	$	27,748	$	45	$	—	$	27,793
	December 31, 2018
	Amortized cost, as adjusted		Gross unrealized holding gains		Gross unrealized holding losses		Estimated fair value
Short-term investments:
Obligations of domestic governmental agencies (maturing between January 2019 and November 2019) (held-to-maturity)	$	26,943	$	2	$	10	$	26,935
Total short-term investment securities	$	26,943	$	2	$	10	$	26,935