Fair Values of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2022

The following tables present the fair value hierarchy for assets and liabilities measured at fair value on a recurring basis:


September 30, 2022	Level 1		Level 2		Level 3		Balance at Fair Value
Cash equivalents:
Money market funds	$	16,825	$	—	$	—	$	16,825
Commercial paper	—		287		—		287

Total cash equivalents	16,825		287		—		17,112
Investments segregated and on deposit for regulatory purposes:
Certificates of deposit	—		350		—		350
U.S. Government securities	—		24,622		—		24,622
Total investments segregated and on deposit for regulatory purposes	—		24,972		—		24,972
Available for sale securities:
U.S. agency mortgage-backed securities	—		163,005		—		163,005
U.S. Treasury securities	—		40,346		—		40,346
Asset-backed securities	—		14,820		—		14,820
Corporate debt securities	—		13,007		—		13,007
U.S. state and municipal securities	—		662		—		662
Non-agency commercial mortgage-backed securities	—		777		—		777
Certificates of deposit	—		2,524		—		2,524
Foreign government agency securities	—		1,064		—		1,064


Other	—		312		—		312
Total available for sale securities	—		236,517		—		236,517
Other assets:
Equity, corporate debt, and other securities	665		57		—		722
Mutual funds and ETFs	518		—		—		518
State and municipal debt obligations	—		9		—		9
U.S. Government securities	—		25		—		25
Total other assets	1,183		91		—		1,274
Total assets	$	18,008	$	261,867	$	—	$	279,875
Accrued expenses and other liabilities	$	1,073	$	42	$	—	$	1,115
Total liabilities	$	1,073	$	42	$	—	$	1,115


December 31, 2021	Level 1		Level 2		Level 3		Balance at Fair Value
Cash equivalents:
Money market funds	$	11,719	$	—	$	—	$	11,719

Total cash equivalents	11,719		—		—		11,719
Investments segregated and on deposit for regulatory purposes:
Certificates of deposit	—		350		—		350
U.S. Government securities	—		36,349		—		36,349
Total investments segregated and on deposit for regulatory purposes	—		36,699		—		36,699
Available for sale securities:
U.S. agency mortgage-backed securities	—		334,355		—		334,355
U.S. Treasury securities	—		21,282		—		21,282
Asset-backed securities	—		17,546		—		17,546
Corporate debt securities	—		12,344		—		12,344
U.S. state and municipal securities	—		1,687		—		1,687
Non-agency commercial mortgage-backed securities	—		1,190		—		1,190
Certificates of deposit	—		999		—		999
Foreign government agency securities	—		425		—		425
Commercial paper	—		200		—		200
Other	—		26		—		26
Total available for sale securities	—		390,054		—		390,054
Other assets:
Equity, corporate debt, and other securities	854		59		—		913
Mutual funds and ETFs	636		—		—		636
State and municipal debt obligations	—		32		—		32
U.S. Government securities	—		3		—		3
Total other assets	1,490		94		—		1,584
Total assets	$	13,209	$	426,847	$	—	$	440,056
Accrued expenses and other liabilities	$	1,354	$	45	$	—	$	1,399
Total liabilities	$	1,354	$	45	$	—	$	1,399

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


September 30, 2022	Carrying Amount		Level 1		Level 2		Level 3		Balance at Fair Value
Assets
Cash and cash equivalents	$	29,374	$	29,374	$	—	$	—	$	29,374
Cash and investments segregated and on deposit for regulatory purposes	19,115		5,488		13,627		—		19,115

Receivables from brokerage clients — net	73,848		—		73,848		—		73,848
Held to maturity securities:
U.S. agency mortgage-backed securities	96,323		—		81,158		—		81,158









Total held to maturity securities	96,323		—		81,158		—		81,158
Bank loans — net:
First Mortgages	24,652		—		21,694		—		21,694
HELOCs	606		—		670		—		670
Pledged asset lines	14,940		—		14,940		—		14,940
Other	181		—		181		—		181
Total bank loans — net	40,379		—		37,485		—		37,485
Other assets	3,121		—		3,121		—		3,121

Liabilities
Bank deposits	$	395,715	$	—	$	395,715	$	—	$	395,715

Payables to brokerage clients	110,012		—		110,012		—		110,012
Accrued expenses and other liabilities	6,487		—		6,487		—		6,487
Short-term borrowings	500		—		500		—		500
Long-term debt	20,768		—		18,864		—		18,864


December 31, 2021	Carrying Amount		Level 1		Level 2		Level 3		Balance at Fair Value
Assets
Cash and cash equivalents	$	51,256	$	51,256	$	—	$	—	$	51,256
Cash and investments segregated and on deposit for regulatory purposes	17,246		4,151		13,095		—		17,246

Receivables from brokerage clients — net	90,560		—		90,560		—		90,560











Bank loans — net:
First Mortgages	21,077		—		21,027		—		21,027
HELOCs	646		—		668		—		668
Pledged asset lines	12,709		—		12,709		—		12,709
Other	204		—		204		—		204
Total bank loans — net	34,636		—		34,608		—		34,608
Other assets	3,561		—		3,561		—		3,561

Liabilities
Bank deposits	$	443,778	$	—	$	443,778	$	—	$	443,778

Payables to brokerage clients	125,671		—		125,671		—		125,671
Accrued expenses and other liabilities	8,327		—		8,327		—		8,327
Short-term borrowings	4,855		—		4,855		—		4,855
Long-term debt	18,820		—		19,383		—		19,383