Marketable Securities

9 Months Ended

Sep. 30, 2021

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

Note 4: Marketable Securities

Marketable securities consist of debt securities. As of September 30, 2021, and December 31, 2020, it was determined that none of the marketable securities had an other-than-temporary impairment. As of September 30, 2021, and December 31, 2020, all securities were measured as Level 1 instruments under the fair value measurements standard (See Note 12: Fair Value). As of September 30, 2021, and December 31, 2020, the Company held approximately $16,310,000 and $15,877,000 in debt securities.

Debt securities classified as available for sale consisted of:

September 30, 2021
(in thousands)

Securities	Amortized Cost		Gross Unrealized Gains /(Losses)			Fair Value		Marketable Securities
U.S. Treasury notes	$	5,730	$	(104	)	$	5,626	$	5,626
U.S. Government mortgage-backed securities		4,317		359			4,676		4,676
Corporate bonds		6,466		(458	)		6,008		6,008
Totals	$	16,513	$	(203	)	$	16,310	$	16,310

December 31, 2020

(in thousands)

Securities	Amortized Cost		Gross Unrealized Gains /(Losses)			Fair Value		Marketable Securities
U.S. Treasury notes	$	5,746	$	(47	)	$	5,699	$	5,699
U.S. Government mortgage-backed securities		4,890		(52	)		4,838		4,838
Corporate bonds		5,288		52			5,340		5,340
Totals	$	15,924	$	(47	)	$	15,877	$	15,877

The following presents available-for-sale securities’ gross unrealized losses and fair value aggregated by the short- and long-term maturity.

September 30, 2021
(in thousands)

	Less than 12 Months				12 Months or More					Total
Securities	Fair Value		Gross Unrealized Gains		Fair Value		Gross Unrealized Gains /(Losses)			Fair Value		Gross Unrealized Gains
U.S. Treasury notes	$	—	$	—	$	5,730	$	(104	)	$	5,626	$	(104	)
U.S. Government mortgage-backed securities		—		—		4,317		359			4,676		359
Corporate bonds		499		—		5,967		(458	)		6,008		(458	)
Totals	$	499	$	—	$	16,014	$	(203	)	$	16,310	$	(203	)

December 31, 2020
(in thousands)

	Less than 12 Months				12 Months or More					Total
Securities	Fair Value		Gross Unrealized Gains		Fair Value		Gross Unrealized Gains/ (Losses)			Fair Value		Gross Unrealized Gains
U.S. Treasury notes	$	501	$	—	$	5,245	$	(47	)	$	5,699	$	(47	)
U.S. Government mortgage-backed securities		—		—		4,890		(52	)		4,838		(52	)
Corporate bonds		—		—		5,288		52			5,340		52
Totals	$	501	$	—	$	15,423	$	(47	)	$	15,877	$	(47	)