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Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2013
Investment Securities  
Schedule of investment securities

 

2013
  Amortized
cost		   Unrealized
gains		   Unrealized
losses		   Fair value
 
   (in thousands)

Available for sale securities:

                        

Mortgage-backed securities

   $ 8     1     -     9

Corporate bonds

     14,568     61     -     14,629

Affiliated mutual funds

     87,710     5,899     (957)     92,652
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 102,286     5,961     (957)     107,290
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                 

Trading securities:

    
 		    
 		    
 		    
 

Mortgage-backed securities

                       37

Municipal bonds

                       501

Corporate bonds

                       9,412

Common stock

                       60

Affiliated mutual funds

                       84,048
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

                       94,058
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Total investment securities

                       201,348
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       


 

2012
  Amortized
cost		   Unrealized
gains		   Unrealized
losses		   Fair value
 
   (in thousands)

Available for sale securities:

                        

Mortgage-backed securities

   $ 9     1     -     10

Corporate bonds

     30,408     248     (3)     30,653

Affiliated mutual funds

     73,443     3,749     (1,090)     76,102
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

   $ 103,860     3,998     (1,093)     106,765
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                 

Trading securities:

    
 		    
 		    
 		    
 

Mortgage-backed securities

                       44

Municipal bonds

                       501

Corporate bonds

                       12,112

Common stock

                       37

Affiliated mutual funds

                       56,683
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

 

                       69,377
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

Total investment securities

                       176,142
                       
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                       

        
Summary of available for sale affiliated mutual funds with fair values below carrying values

 A summary of available for sale affiliated mutual funds with fair values below carrying values at December 31, 2013 is as follows:

 
   Less than 12 months   12 months or longer   Total
 
   Fair value   Unrealized
losses		   Fair value   Unrealized
losses		   Fair value   Unrealized
losses
 
   (in thousands)

Affiliated mutual funds

   $ 29,598     (939)     213     (18)     29,811     (957)
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total temporarily impaired securities

   $ 29,598     (939)     213     (18)     29,811     (957)
                         
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                         

        
Schedule of available for sale securities by maturity date

Mortgage-backed securities and corporate bonds accounted for as available for sale and held as of December 31, 2013 mature as follows:

 
   Amortized
cost		   Fair value
 
   (in thousands)

Within one year

   $ 14,568     14,629

After five years but within 10 years

     8     9
         
​ ​ ​ ​ ​ ​ ​

 

   $ 14,576     14,638
         
​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​
         

        
Schedule of trading securities by maturity date

Mortgage-backed securities, municipal bonds and corporate bonds accounted for as trading and held as of December 31, 2013 mature as follows:

 
   Fair value    
 
   (in thousands)

Within one year

   $ 9,412      

After one year but within five years

     501      

After five years but within 10 years

     37      
           
​ ​ ​ ​ ​ ​ ​

 

   $ 9,950      
           
​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​
           

        
Schedule of fair value of investment securities

 

2013
   Level 1
   Level 2
   Level 3
   Total
             
 
   (in thousands)

Mortgage-backed securities

   $ -     46     -     46

Municipal bonds

     -     501     -     501

Corporate bonds

     -     24,041     -     24,041

Common stock

     60     -     -     60

Affiliated mutual funds

     176,700     -     -     176,700
     
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total

   $ 176,760   $ 24,588   $ -   $ 201,348
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                 


 

2012
   Level 1
   Level 2
   Level 3
   Total
             
 
   (in thousands)

Mortgage-backed securities

     -     54     -     54

Municipal bonds

     -     501     -     501

Corporate bonds

     -     42,765     -     42,765

Common stock

     37     -     -     37

Affiliated mutual funds

     132,785     -     -     132,785
     
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total

   $ 132,822   $ 43,320   $ -   $ 176,142
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​