2.	SECURITIES

The amortized cost and fair value of securities, with gross unrealized gains and losses, at period-end follow:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
September 30, 2019
Available for sale:
U.S. government and agencies	$	6,848	$	53	$	—		$	6,901
State and municipal		40,720		884		(52	)		41,552
Mortgage-backed securities		251,958		3,226		(1,306	)		253,878
Collateralized mortgage obligations		60,244		—		(59	)		60,185
Asset-backed and other amortizing securities		36,972		1,847		—			38,819
	$	396,742	$	6,010	$	(1,417	)	$	401,335

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
December 31, 2018
Available for sale:
U.S. government and agencies	$	84,765	$	18	$	(76	)	$	84,707
State and municipal		32,205		480		(375	)		32,310
Mortgage-backed securities		184,267		29		(2,040	)		182,256
Asset-backed and other amortizing securities		39,799		1		(877	)		38,923
	$	341,036	$	528	$	(3,368	)	$	338,196

The amortized cost and fair value of securities at September 30, 2019 are presented below by contractual maturity. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Other securities are shown separately since they are not due at a single maturity date.

	Available for Sale
	Amortized Cost		Fair Value
Within 1 year	$	470	$	475
After 1 year through 5 years		6,848		6,901
After 5 years through 10 years		10,434		10,630
After 10 years		29,816		30,447
Other		349,174		352,882
	$	396,742	$	401,335

At September 30, 2019 and December 31, 2018, there were no holdings of securities of any one issuer, other than the U.S. government and its agencies, in an amount greater than 10% of stockholders’ equity.

Securities with a carrying value of approximately $198.6 million and $200.0 million at September 30, 2019 and December 31, 2018, respectively, were pledged to collateralize public deposits and for other purposes as required or permitted by law.

The following table segregates securities with unrealized losses at the periods indicated, by the duration they have been in a loss position:

	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
September 30, 2019
U.S. government and agencies	$	—	$	—	$	—	$	—	$	—	$	—
State and municipal		9,066		36		1,220		16		10,286		52
Mortgage-backed securities		61,931		1,235		6,679		72		68,610		1,307
Collateralized mortgage obligations		60,185		58		—		—		60,185		58
	$	131,182	$	1,329	$	7,899	$	88	$	139,081	$	1,417

December 31, 2018
U.S. government and agencies	$	77,891	$	27	$	2,048	$	49	$	79,939	$	76
State and municipal		5,662		92		9,781		283		15,443		375
Mortgage-backed securities		108,962		293		54,035		1,747		162,997		2,040
Asset-backed and other amortizing securities		—		—		37,351		877		37,351		877
	$	192,515	$	412	$	103,215	$	2,956	$	295,730	$	3,368

There were 23 securities with an unrealized loss at September 30, 2019. Management does not believe that these losses are other than temporary as there is no intent to sell any of these securities before recovery and it is not probable that we will be required to sell any of these securities before recovery, and credit loss, if any, is not material. Any unrealized losses are largely due to increases in market interest rates over the yields available at the time the underlying securities were purchased. The fair value is expected to recover as the securities approach their maturity date or if market yields for such investments decline. Management does not believe any of the securities are impaired due to reasons of credit quality. Accordingly, as of September 30, 2019, management believes the impairments detailed in the table above are temporary and no impairment loss has been realized in the Company’s consolidated financial statements.