Fair Values of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the fair value hierarchy for assets measured at fair value on a recurring basis. Liabilities recorded at fair value were not material, and therefore are not included in the following tables:

September 30, 2021	Level 1		Level 2		Level 3		Balance at Fair Value
Cash equivalents:
Money market funds	$	10,346	$	—	$	—	$	10,346
U.S. Treasury securities	—		1		—		1
Total cash equivalents	10,346		1		—		10,347
Investments segregated and on deposit for regulatory purposes:
Certificates of deposit	—		350		—		350
U.S. Government securities	—		24,347		—		24,347
Total investments segregated and on deposit for regulatory purposes	—		24,697		—		24,697
Available for sale securities:
U.S. agency mortgage-backed securities	—		331,314		—		331,314
Asset-backed securities	—		17,628		—		17,628
Corporate debt securities	—		12,599		—		12,599
U.S. Treasury securities	—		11,477		—		11,477
U.S. state and municipal securities	—		1,702		—		1,702
Non-agency commercial mortgage-backed securities	—		1,223		—		1,223
Certificates of deposit	—		999		—		999
Other	—		26		—		26
Total available for sale securities	—		376,968		—		376,968
Other assets:
Equity and bond mutual funds	114		—		—		114
U.S. Government securities	—		8		—		8
State and municipal debt obligations	—		16		—		16
Equity, corporate debt, and other securities	12		16		—		28
Total other assets	126		40		—		166
Total	$	10,472	$	401,706	$	—	$	412,178

December 31, 2020	Level 1		Level 2		Level 3		Balance at Fair Value
Cash equivalents:
Money market funds	$	11,159	$	—	$	—	$	11,159
Total cash equivalents	11,159		—		—		11,159
Investments segregated and on deposit for regulatory purposes:
Certificates of deposit	—		550		—		550
U.S. Government securities	—		30,698		—		30,698
Total investments segregated and on deposit for regulatory purposes	—		31,248		—		31,248
Available for sale securities:
U.S. agency mortgage-backed securities	—		290,353		—		290,353
Asset-backed securities	—		18,898		—		18,898
Corporate debt securities	—		12,796		—		12,796
U.S. Treasury securities	—		10,656		—		10,656
U.S. state and municipal securities	—		1,697		—		1,697
Foreign government agency securities	—		1,413		—		1,413
Non-agency commercial mortgage-backed securities	—		1,265		—		1,265
Certificates of deposit	—		300		—		300
Other	—		22		—		22
Total available for sale securities	—		337,400		—		337,400
Other assets:
Equity and bond mutual funds	361		—		—		361
U.S. Government securities	—		253		—		253
State and municipal debt obligations	—		37		—		37
Equity, corporate debt, and other securities	7		29		—		36
Total other assets	368		319		—		687
Total	$	11,527	$	368,967	$	—	$	380,494

Fair Value of Other Financial Instruments

The following tables present the fair value hierarchy for other financial instruments:

September 30, 2021	Carrying Amount		Level 1		Level 2		Level 3		Balance at Fair Value
Assets
Cash and cash equivalents	$	23,976	$	23,976	$	—	$	—	$	23,976
Cash and investments segregated and on deposit for   regulatory purposes	17,595		4,015		13,580		—		17,595
Receivables from brokerage clients — net	86,549		—		86,549		—		86,549
Bank loans — net:
First Mortgages	19,282		—		19,340		—		19,340
HELOCs	686		—		707		—		707
Pledged asset lines	11,412		—		11,412		—		11,412
Other	190		—		190		—		190
Total bank loans — net	31,570		—		31,649		—		31,649
Other assets	6,238		—		6,238		—		6,238
Liabilities
Bank deposits	$	395,275	$	—	$	395,275	$	—	$	395,275
Payables to brokerage clients	113,052		—		113,052		—		113,052
Accrued expenses and other liabilities	11,796		—		11,796		—		11,796
Short-term borrowings	3,000		—		3,000		—		3,000
Long-term debt	19,429		—		20,285		—		20,285

December 31, 2020	Carrying Amount		Level 1		Level 2		Level 3		Balance at Fair Value
Assets
Cash and cash equivalents	$	29,189	$	29,189	$	—	$	—	$	29,189
Cash and investments segregated and on deposit for   regulatory purposes	19,143		4,212		14,931		—		19,143
Receivables from brokerage clients — net	64,436		—		64,436		—		64,436
Bank loans — net:
First Mortgages	14,882		—		15,305		—		15,305
HELOCs	837		—		838		—		838
Pledged asset lines	7,916		—		7,916		—		7,916
Other	178		—		178		—		178
Total bank loans — net	23,813		—		24,237		—		24,237
Other assets	2,883		—		2,883		—		2,883
Liabilities
Bank deposits	$	358,022	$	—	$	358,022	$	—	$	358,022
Payables to brokerage clients	104,201		—		104,201		—		104,201
Accrued expenses and other liabilities	8,263		—		8,263		—		8,263
Long-term debt	13,626		—		14,829		—		14,829