The amortized cost and approximate fair value of investment securities consisted of the following at the dates indicated (in thousands):

(1)	Comprised of Federal Home Loan Mortgage Corporation (“FHLMC”), Federal National Mortgage Association (“FNMA”) and Ginnie Mae (“GNMA”) issued securities.

(2)	Comprised of U.S. Small Business Administration (“SBA”) issued securities and commercial real estate (“CRE”) secured securities issued by FNMA.

(3)	Comprised of FHLMC and FNMA issued securities.

The contractual maturities of investment securities as of June 30, 2021 are as follows (in thousands):


	Available for Sale				Held to Maturity
			Estimated				Estimated
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
Due in one year or less	$	—	$	—	$	—	$	—
Due after one year through five years		8,402		8,461		16		16
Due after five years through ten years		78,950		79,291		8,590		8,400
Due after ten years		180,160		181,101		30,619		30,248
Total	$	267,512	$	268,853	$	39,225	$	38,664

Expected maturities of investment securities may differ from contractual maturities because borrowers may have the right to prepay obligations with or without prepayment penalties.

The fair value of temporarily impaired investment securities, the amount of unrealized losses and the length of time these unrealized losses existed are as follows at the dates indicated (in thousands):


	Less than 12 months				12 months or longer				Total
	Estimated				Estimated				Estimated
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
June 30, 2021	Value		Losses		Value		Losses		Value		Losses


Available for sale:
Municipal securities	$	12,971	$	(213)	$	—	$	—	$	12,971	$	(213)
Agency securities		20,577		(392)		—		—		20,577		(392)
Real estate mortgage investment conduits ⁽¹⁾		38,492		(411)		—		—		38,492		(411)
Residential mortgage-backed securities		45,122		(349)		—		—		45,122		(349)
Other mortgage-backed securities ⁽²⁾		3,028		(5)		1,993		(44)		5,021		(49)
Total available for sale	$	120,190	$	(1,370)	$	1,993	$	(44)	$	122,183	$	(1,414)

Held to maturity:
Municipal securities	$	6,511	$	(177)	$	—	$	—	$	6,511	$	(177)
Agency securities		7,570		(105)		—		—		7,570		(105)
Real estate mortgage investment conduits ⁽³⁾		8,991		(77)		—		—		8,991		(77)
Residential mortgage-backed securities ⁽⁴⁾		5,895		(75)		—		—		5,895		(75)
Other mortgage-backed securities		5,945		(163)		—		—		5,945		(163)
Total held to maturity	$	34,912	$	(597)	$	—	$	—	$	34,912	$	(597)

March 31, 2021

Available for sale:
Municipal securities	$	17,529	$	(555)	$	—	$	—	$	17,529	$	(555)
Agency securities		23,306		(686)		—		—		23,306		(686)
Real estate mortgage investment conduits ⁽¹⁾		25,462		(480)		—		—		25,462		(480)
Residential mortgage-backed securities		33,164		(614)		—		—		33,164		(614)
Other mortgage-backed securities ⁽²⁾		5,856		(125)		2,225		(51)		8,081		(176)
Total available for sale	$	105,317	$	(2,460)	$	2,225	$	(51)	$	107,542	$	(2,511)

Held to maturity:
Municipal securities	$	9,882	$	(509)	$	—	$	—	$	9,882	$	(509)
Agency securities		7,468		(220)		—		—		7,468		(220)
Real estate mortgage investment conduits ⁽³⁾		9,066		(141)		—		—		9,066		(141)
Residential mortgage-backed securities ⁽⁴⁾		6,035		(119)		—		—		6,035		(119)
Other mortgage-backed securities		5,748		(365)		—		—		5,748		(365)
Total held to maturity	$	38,199	$	(1,354)	$	—	$	—	$	38,199	$	(1,354)

(1)	Comprised of FHLMC, FNMA and GNMA issued securities.

(2)	Comprised of SBA issued securities.

(3)	Comprised of FNMA issued securities.

(4)	Comprised of FHLMC and FNMA issued securities.

The unrealized losses on the Company’s investment securities were primarily attributable to increases in market interest rates subsequent to their purchase by the Company. The Company expects the fair value of these securities to recover as the securities approach their maturity dates or sooner if market yields for such securities decline. The Company does not believe that these securities are other than temporarily impaired because of their credit quality or related to any issuer or industry specific event. The Company has the ability and intent to hold the investments until the fair value recovers. Based on management’s evaluation and intent, the unrealized losses related to the investment securities in the above tables are considered temporary.

The Company had no sales and realized no gains or losses on sales of investment securities for the three months ended June 30, 2021 and 2020. Investment securities available for sale with an amortized cost of $9.8 million and $5.3 million and an estimated fair value of $9.8 million and $5.4 million at June 30, 2021 and March 31, 2021, respectively, were

pledged as collateral for government public funds held by the Bank. Investment securities held to maturity with an amortized cost of $6.0 million and $3.1 million and a fair value of $5.9 million and $3.0 million at June 30, 2021 and March 31, 2021, respectively, were pledged as collateral for government public funds held by the Bank