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Securities Available for Sale
 6 Months Ended
Jun. 30, 2020
Debt Securities, Available-for-sale [Abstract]  
Securities Available for Sale Securities Available for Sale
Amortized cost and fair value of securities available for sale are summarized as follows.
June 30, 2020
(in thousands)Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair ValueFair Value as % of Total
U.S. government agency securities$63,512  $338  $—  $63,850  12 %
State, county and municipals162,239  4,261  2  166,498  33 %
Mortgage-backed securities188,819  8,087  10  196,896  39 %
Corporate debt securities78,036  5,529  —  83,565  16 %
Total
$492,606  $18,215  $12  $510,809  100 %
December 31, 2019
(in thousands)Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair ValueFair Value as % of Total
U.S. government agency securities$16,516  $4  $60  $16,460  4 %
State, county and municipals155,501  1,049  157  156,393  35 %
Mortgage-backed securities193,223  2,492  697  195,018  43 %
Corporate debt securities78,009  3,422  —  81,431  18 %
Total
$443,249  $6,967  $914  $449,302  100 %
All mortgage-backed securities included in the table above were issued by U.S. government agencies and corporations. Securities AFS with a fair value of $156 million and $166 million as of June 30, 2020 and December 31, 2019, respectively, were pledged as collateral on public deposits and for other purposes as required or permitted by law. Accrued interest on securities AFS totaled $2.1 million and $2.2 million at June 30, 2020 and December 31, 2019, respectively, and is included in accrued interest receivable and other assets on the consolidated balance sheets.

The following table presents gross unrealized losses and the related estimated fair value of securities AFS for which an allowance for credit losses has not been recorded, aggregated by investment category and length of time individual securities have been in a continuous unrealized loss position.
June 30, 2020
Less than 12 months12 months or moreTotal
($ in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Number of
Securities
State, county and municipals$882  $2  $—  $—  $882  $2  2  
Mortgage-backed securities1,329  1  762  9  2,091  10  23  
Total
$2,211  $3  $762  $9  $2,973  $12  25  
December 31, 2019
Less than 12 months12 months or moreTotal
($ in thousands)Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Number of
Securities
U.S. government agency securities$1,035  $2  $11,091  $58  $12,126  $60  6  
State, county and municipals22,451  132  7,605  25  30,056  157  56  
Mortgage-backed securities49,626  245  47,271  452  96,897  697  150  
Total
$73,112  $379  $65,967  $535  $139,079  $914  212  
The Company evaluates securities AFS in unrealized loss positions to determine whether the impairment is due to credit-related factors or noncredit-related factors. In making this evaluation, management considers the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, and the intent and ability of the Company to hold the security for a period of time sufficient to allow for any anticipated recovery in fair value.
As of June 30, 2020, no allowance for credit losses on securities AFS was recognized. The Company does not consider its securities AFS with unrealized losses to be attributable to credit-related factors, as the unrealized losses in each category have occurred as a result of changes in noncredit-related factors such as changes in interest rates, market spreads and market conditions subsequent to purchase, not credit deterioration. Furthermore, the Company does not have the intent to sell any of these securities AFS and believes that it is more likely than not that we will not have to sell any such securities before a recovery of cost. During 2019, there were no other-than-temporary impairments charged to earnings.
The amortized cost and fair value of securities AFS by contractual maturity are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties; as this is particularly inherent in mortgage-backed securities, these securities are not included in the maturity categories below.
June 30, 2020
(in thousands)Amortized CostFair Value
Due in less than one year$28,148  $28,294  
Due in one year through five years217,289  224,722  
Due after five years through ten years42,898  44,561  
Due after ten years15,452  16,336  
303,787  313,913  
Mortgage-backed securities188,819  196,896  
Securities AFS$492,606  $510,809  
Proceeds and realized gains / losses from the sale of securities AFS were as follows.
Six Months Ended June 30,
(in thousands)20202019
Gross gains$164  $152  
Gross losses—  (120) 
Gains (losses) on sales of securities AFS, net
$164  $32  
Proceeds from sales of securities AFS$9,232  $13,240