| Schedule of investment securities classified as held-to-maturity |
As of October 29, 2016, the Company’s investment securities are classified as held-to-maturity since the Company has the intent and ability to hold the investments to maturity. Such securities are carried at amortized cost plus accrued interest and consist of the following (in thousands):
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Gross
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Gross
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Amortized
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Unrealized
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Unrealized
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Fair Market
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Cost
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Gains
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Losses
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Value
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Short-term:
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Obligations of the U.S. Treasury (Level 1)
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$
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9,992
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$
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6
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$
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—
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$
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9,998
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Obligations of states and municipalities (Level 2)
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13,596
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—
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(3)
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13,593
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Bank certificates of deposit (Level 2)
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10,544
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—
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—
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10,544
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$
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34,132
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$
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6
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$
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(3)
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$
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34,135
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Long-term:
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Obligations of the U. S. Treasury (Level 1)
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$
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15,012
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$
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30
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$
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—
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$
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15,042
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Bank certificates of deposit (Level 2)
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14,171
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—
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—
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14,171
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$
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29,183
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$
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30
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$
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—
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$
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29,213
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As of January 30, 2016, the Company’s investment securities were classified as held-to-maturity and consisted of the following (in thousands):
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Gross
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Gross
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Amortized
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Unrealized
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Unrealized
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Fair Market
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Cost
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Gains
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Losses
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Value
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Short-term:
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Obligations of the U. S. Treasury (Level 1)
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$
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8,763
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$
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3
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$
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(1)
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$
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8,765
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Obligations of states and municipalities (Level 2)
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2,930
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2
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—
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2,932
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Bank certificates of deposit (Level 2)
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20,978
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—
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—
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20,978
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$
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32,671
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$
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5
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$
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(1)
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$
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32,675
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Long-term:
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Obligations of the U. S. Treasury (Level 1)
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$
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20,002
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$
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33
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$
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(7)
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$
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20,028
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Bank certificates of deposit (Level 2)
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10,888
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—
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—
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10,888
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$
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30,890
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$
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33
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$
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(7)
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$
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30,916
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| Schedule of amortized cost and fair market value of investment securities by contractual maturity |
The amortized cost and fair market value of investment securities as of October 29, 2016 by contractual maturity are as follows (in thousands):
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Fair
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Amortized
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Market
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Cost
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Value
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Mature in one year or less
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$
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34,132
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$
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34,135
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Mature after one year through five years
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29,183
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29,213
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$
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63,315
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$
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63,348
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The amortized cost and fair market value of investment securities as of January 30, 2016 by contractual maturity were as follows (in thousands):
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Fair
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Amortized
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Market
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Cost
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Value
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Mature in one year or less
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$
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32,671
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$
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32,675
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Mature after one year through five years
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30,890
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30,916
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$
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63,561
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$
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63,591
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