INVESTMENT SECURITIES (Tables)

6 Months Ended

Jun. 30, 2016

Investments, Debt and Equity Securities [Abstract]

Components of the Company's Investment Securities

Components of investment securities are as follows (in thousands):

	June 30, 2016		December 31, 2015
Available-for-sale securities	$	17,774	$	19,509
Trading securities	1,590		1,451
Trading securities - Pelium	24,552		26,516
Total investment securities, at fair value	$	43,916	$	47,476

Pre-tax Unrealized Gains (Losses) Relating to the Company's Investments in Equity and Collateralized Debt Obligation Securities

Available-for-sale securities.  The following table discloses the pre-tax unrealized gains (losses) relating to the Company’s investments in available-for-sale securities (in thousands):

	Cost or Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
As of June 30, 2016:
CLO securities	$	7,057	$	—	$	(412	)	$	6,645
Equity securities	12,784		6		(1,661		)	11,129
Total	$	19,841	$	6	$	(2,073	)	$	17,774
As of December 31, 2015:
CLO securities	$	7,585	$	928	$	(66	)	$	8,447
Equity securities	12,784		12		(1,734		)	11,062
Total	$	20,369	$	940	$	(1,800	)	$	19,509

Unrealized Losses Along with the Related Fair Value, Aggregated by the Length of Time the Investments were in a Continuous Unrealized Loss Position

Unrealized losses on available-for-sale securities, along with their related fair value, and aggregated by the length of time the investments were in a continuous unrealized loss position, are as follows (in thousands, except number of securities):

	Less than 12 Months						More than 12 Months
	Fair Value		Unrealized Losses			Number of Securities	Fair Value		Unrealized Losses			Number of Securities
June 30, 2016
CLO securities	$	2,229	$	(212	)	5	$	3,640	$	(200	)	8
Equity securities	1,708		(8		)	1	9,308		(1,653		)	2
Total	$	3,937	$	(220	)	6	$	12,948	$	(1,853	)	10
December 31, 2015
CLO securities	$	2,033	$	(38	)	3	$	805	$	(28	)	2
Equity securities	1,814		(10		)	2	9,128		(1,724		)	1
Total	$	3,847	$	(48	)	5	$	9,933	$	(1,752	)	3

	Less than 12 Months							More than 12 Months
	Fair Value			Unrealized Losses			Number of Securities	Fair Value		Unrealized Losses			Number of Securities
June 30, 2016:
CDO Securities	$	10,880		$	(1,167	)	13	$	3,377	$	(1,365	)	12
CMBS	3,284			(1,192		)	3	—		—			—
Other	(4		)	(4		)	1	—		—			—
Total	$	14,160		$	(2,363	)	17	$	3,377	$	(1,365	)	12
December 31, 2015:
CDO Securities	$	10,156		$	(3,312	)	18	$	1,183	$	(503	)	7
CMBS	2,940			(1,278		)	5	—		—			—
Other	2,857			(143		)	2	—		—			—
Total	$	15,953		$	(4,733	)	25	$	1,183	$	(503	)	7