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Securities Available for Sale
 9 Months Ended
Sep. 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.
September 30, 2020
(in thousands)Amortized CostGross
Unrealized
Gains		Gross
Unrealized
Losses		Fair ValueFair Value as % of Total
U.S. government agency securities$64,006 $328 $— $64,334 12 %
State, county and municipals210,567 4,934 22 215,479 40 %
Mortgage-backed securities164,282 7,521 48 171,755 32 %
Corporate debt securities78,050 5,733 — 83,783 16 %
Total
$516,905 $18,516 $70 $535,351 100 %
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 $147 million and $166 million as of September 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 $2.6 million and $2.2 million at September 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.
September 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$8,867 $22 $— $— $8,867 $22 18 
Mortgage-backed securities5,440 42 481 6 5,921 48 20 
Total
$14,307 $64 $481 $6 $14,788 $70 38 
December 31, 2019
Less than 12 months12 months or moreTotal
($ 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 September 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.
September 30, 2020
(in thousands)Amortized CostFair Value
Due in less than one year$35,899 $36,133 
Due in one year through five years224,042 231,540 
Due after five years through ten years72,838 74,829 
Due after ten years19,844 21,094 
352,623 363,596 
Mortgage-backed securities164,282 171,755 
Securities AFS$516,905 $535,351 
Proceeds and realized gains / losses from the sale of securities AFS were as follows.
Nine Months Ended September 30,
(in thousands)20202019
Gross gains$315 $152 
Gross losses— (120)
Gains (losses) on sales of securities AFS, net
$315 $32 
Proceeds from sales of securities AFS$14,864 $13,240