Investment Securities (Tables)

6 Months Ended

Jun. 30, 2015

Investment Securities

Schedule of investment securities

	Amortized		Unrealized	Unrealized
June 30, 2015	cost		gains	losses		Fair value
	(in thousands)
Available for sale securities:
Affiliated funds	$	210,839	4,925	(9,239	)	206,525
	$	210,839	4,925	(9,239	)	206,525
Trading securities:
Mortgage-backed securities						24
Common stock						73
Affiliated funds						32,363
						32,460
Total investment securities						$	238,985

	Amortized		Unrealized	Unrealized
December 31, 2014	cost		gains	losses		Fair value
	(in thousands)
Available for sale securities:
Affiliated funds	$	162,425	4,237	(5,392	)	161,270
	$	162,425	4,237	(5,392	)	161,270
Trading securities:
Mortgage-backed securities						28
Common stock						72
Affiliated funds						81,913
						82,013
Total investment securities						$	243,283

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

	Less than 12 months				12 months or longer			Total
			Unrealized		Fair	Unrealized		Fair	Unrealized
June 30, 2015	Fair value		losses		value	losses		value	losses
	(in thousands)
Affiliated funds	$	147,131	(9,204	)	305	(35	)	147,436	(9,239	)

	Less than 12 months				12 months or longer			Total
			Unrealized		Fair	Unrealized		Fair	Unrealized
December 31, 2014	Fair value		losses		value	losses		value	losses
	(in thousands)
Affiliated funds	$	66,858	(5,362	)	1,187	(30	)	68,045	(5,392	)

Schedule of fair value of investment securities

June 30, 2015	Level 1		Level 2	Level 3	Total
	(in thousands)
Mortgage-backed securities	$	—	24	—	24
Common stock	73		—	—	73
Affiliated funds	238,888		—	—	238,888
Total	$	238,961	24	—	238,985

December 31, 2014	Level 1		Level 2	Level 3	Total
	(in thousands)
Mortgage-backed securities	$	—	28	—	28
Common stock	72		—	—	72
Affiliated funds	243,183		—	—	243,183
Total	$	243,255	28	—	243,283