Note

– Securities

Available –for-Sale	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
December 31 , 2020
U.S. Treasury	$	499	$	2	$	—		$	501
Obligations of U.S. government-sponsored entities and agencies		7,793		316		—			8,109
Obligations of state and political subdivisions		63,359		3,675		—			67,034
U.S. Government-sponsored mortgage-backed securities–residential		56,757		1,496		(5	)		58,248
U.S. Government-sponsored mortgage-backed securities– commercial		7,004		75		(1	)		7,078
U.S. Government-sponsored collateralized mortgage obligations– residential		4,520		175		—			4,695
Total available-for-sale securities	$	139,932	$	5,739	$	(6	)	$	145,665

Held-to-Maturity	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Fair Value
December 31 , 2020
Obligations of state and political subdivisions	$	3,336	$	269	$	—	$	3,605
Total held-to-maturity securities	$	3,336	$	269	$	—	$	3,605

Available–for-Sale	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
June 30, 20 20
U.S. Treasury	$	1,248	$	8	$	—		$	1,256
Obligations of U.S. government-sponsored entities and agencies		10,133		399		—			10,532
Obligations of state and political subdivisions		60,343		3,149		—			63,492
U.S. government-sponsored mortgage-backed securities - residential		48,645		1,515		(4	)		50,156
U.S. government-sponsored mortgage-backed securities - commercial		8,444		55		(2	)		8,497
U.S. government-sponsored collateralized mortgage obligations - residential		9,712		285		(12	)		9,985
Total available-for-sale securities	$	138,525	$	5,411	$	(18	)	$	143,918

Held-to-Maturity	Amortized Cost		Gross Unrecognized Gains		Gross Unrecognized Losses		Fair Value
June 30, 20 20
Obligations of state and political subdivisions	$	3,541	$	327	$	—	$	3,868
Total held-to-maturity securities	$	3,541	$	327	$	—	$	3,868

Proceeds from the sale and call of available-for-sale securities were as follows:

	Three Months Ended December 31,				Six Months Ended December 31,
	2020		2019		2020		2019
Proceeds from sales and calls	$	2,733	$	1,650		2,733		6,110
Gross realized gains		31		4		31		110
Gross realized losses		23		—		23		—

The income tax provision related to the net realized gain amounted to

for the

three

- and

six

-month periods ended

December 31, 2020.

The income tax provision related to the net realized gains amounted to

and

$22

for the

three

- and

six

-month periods ended

December 31, 2019,

respectively.

The amortized cost and fair values of debt securities at

December 31, 2020,

by expected maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers

may

have the right to call or prepay obligations with or without call or prepayment penalties. Securities

not

due at a single maturity date, primarily mortgage-backed securities, are shown separately.

Available-for-Sale	Amortized Cost		Estimated Fair Value
Due in one year or less	$	4,930	$	5,006
Due after one year through five years		14,015		14,545
Due after five years through ten years		13,700		14,327
Due after ten years		39,006		41,766
Total		71,651		75,644

U.S. Government-sponsored mortgage-backed and related securities		69,281		70,021
Total available-for-sale securities	$	139,932	$	145,665

Held-to-Maturity
Due after one year through five years	$	334	$	356
Due after five years through ten years		667		735
Due after ten years		2,335		2,514
Total held-to-maturity securities	$	3,336	$	3,605

The following table summarizes the securities with unrealized losses at

December 31, 2020

and

June 30, 2020,

aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:

	Less than 12 Months					12 Months or more				Total
Available-for-sale	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
December 3 1 , 20 20
U.S. Government-sponsored mortgage-backed securities – residential		1,198		(5	)		—		—		1,198		(5	)
U.S. Government-sponsored mortgage-backed securities- commercial		1,422		(1	)		—		—		1,422		(1	)
Total temporarily impaired	$	2,620	$	(6	)	$	—	$	—	$	2,620	$	(6	)

	Less than 12 Months					12 Months or more					Total
Available-for-sale	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
June 30, 20 20
U.S. Government-sponsored mortgage-backed securities – residential		—		—			625		(4	)		625		(4	)
U.S. Government-sponsored mortgage-backed securities – commercial		1,806		(2	)		—		—			1,806		(2	)
U.S. Government-sponsored collateralized mortgage obligations - residential		1,700		(12	)		—		—			1,700		(12	)
Total temporarily impaired	$	3,506	$	(14	)	$	625	$	(4	)	$	4,131	$	(18	)

Management evaluates securities for other-than-temporary impairment (OTTI) on a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. The securities portfolio is evaluated for OTTI by segregating the portfolio into

two

general segments and applying the appropriate OTTI model. Investment securities are generally evaluated for OTTI under FASB ASC Topic

320,

Accounting for Certain Investments in Debt and Equity Securities

In determining OTTI under the ASC Topic

320

model, management considers many factors, including: (

) the length of time and the extent to which the fair value has been less than cost, (

) the financial condition and near-term prospects of the issuer, (

) whether the market decline was affected by macroeconomic conditions, and (

) whether the entity has the intent to sell the debt security or more likely than

not

will be required to sell the debt security before its anticipated recovery. The assessment of whether an other-than-temporary decline exists involves a high degree of subjectivity and judgment and is based on the information available to management at a point in time.

The unrealized losses within the securities portfolio as of

December 31, 2020

have

not

been recognized into income because the decline in fair value is

not

attributed to credit quality and management does

not

intend to sell, and it is

not

likely that management will be required to sell, the securities prior to their anticipated recovery. The decline in fair value within the securities portfolio is largely due to increases in mortgage backed and collateralized mortgage obligations prepayment speeds impacting the yield on bonds that were purchased at a premium. The mortgage-backed securities and collateralized mortgage obligations were primarily issued by Fannie Mae, Freddie Mac and Ginnie Mae, institutions which the government has affirmed its commitment to support. The Corporation does

not

own any private label mortgage-backed securities.