The following table summarizes the amortized cost, allowance for credit losses and fair value of the available-for-sale debt securities and the corresponding amounts of unrealized gains and losses recognized in accumulated other comprehensive income at June 30, 2020 and December 31, 2019:


	June 30, 2020
	Amortized cost		Gross unrealized gains		Gross unrealized losses		Allowance for credit losses for investments		Fair Value
Investment Securities
Available-for-sale debt securities
U.S. government agency securities	$	3,003	$	21	$	—	$	—	$	3,024
Mortgage-backed securities - residential	439,843		14,770		(7)		—		454,606
Municipals, tax exempt	251,424		14,875		(247)		—		266,052
Treasury securities	22,485		286		—		—		22,771
Corporate securities	1,000		—		(15)		—		985
Total	$	717,755	$	29,952	$	(269)	$	—	$	747,438


	December 31, 2019
	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair Value
Investment Securities
Available-for-sale debt securities

Mortgage-backed securities - residential	$	487,101	$	5,236	$	(1,661)	$	490,676
Municipals, tax exempt	181,178		8,287		(230)		189,235
Treasury securities	7,426		22		—		7,448
Corporate securities	1,000		22		—		1,022
Total	$	676,705	$	13,567	$	(1,891)	$	688,381

The components of amortized cost for debt securities on the consolidated balance sheets excludes accrued interest receivable since the Company elected to present accrued interest receivable separately on the consolidated balance sheets. As of June 30, 2020 and December 31, 2019, total accrued interest receivable on debt securities was $3,184 and $2,843, respectively.

As of June 30, 2020 and December 31, 2019, the Company had $4,329 and $3,295 in marketable equity securities recorded at fair value, respectively.

Securities pledged at June 30, 2020 and December 31, 2019 had carrying amounts of $475,645 and $373,674, respectively, and were pledged to secure a Federal Reserve Bank line of credit, public deposits and repurchase agreements.

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 shareholders' equity during any period presented.

At June 30, 2020 and December 31, 2019, there were $5,431 and $0, respectively, in trade date payables that related to purchases settled after period end.

The amortized cost and fair value of debt securities by contractual maturity at June 30, 2020 and December 31, 2019 are shown below. Maturities may differ from contractual maturities in mortgage-backed securities because the mortgage underlying the security may be called or repaid without any penalties. Therefore, mortgage-backed securities are not included in the maturity categories in the following maturity summary.


	June 30,						December 31,
	2020						2019
	Available-for-sale						Available-for-sale
	Amortized cost		Fair value		Amortized cost		Fair value
Due in one year or less	$	17,374	$	17,473	$	1,148	$	1,152
Due in one to five years	33,022		33,515		11,553		11,676
Due in five to ten years	30,203		31,373		18,287		18,887
Due in over ten years	197,313		210,471		158,616		165,990
	277,912		292,832		189,604		197,705
Mortgage-backed securities - residential	439,843		454,606		487,101		490,676
Total debt securities	$	717,755	$	747,438	$	676,705	$	688,381


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Proceeds from sales	$	—	$	—	$	—	$	1,758
Proceeds from maturities, prepayments and calls	44,703		29,353		72,360		50,167
Gross realized gains	—		5		—		6
Gross realized losses	—		—		—		7

Additionally, net (losses) gains on the change in fair value of equity securities of $(28) and $35 were recognized in the three and six months ended June 30, 2020, respectively and $47 and $96 were recognized in the three and six months ended June 30, 2019, respectively.

The following tables show gross unrealized losses for which an allowance for credit losses has not been recorded at June 30, 2020 and December 31, 2019, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:


	June 30, 2020
	Less than 12 months						12 months or more						Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized loss

Mortgage-backed securities - residential	$	14,746	$	(7)	$	—	$	—	$	14,746	$	(7)
Municipals, tax exempt	2,784		(247)		—		—		2,784		(247)

Corporate securities	985		(15)		—		—		985		(15)
Total	$	18,515	$	(269)	$	—	$	—	$	18,515	$	(269)


	December 31, 2019
	Less than 12 months						12 months or more						Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized loss

Mortgage-backed securities - residential	$	47,641	$	(164)	$	175,730	$	(1,497)	$	223,371	$	(1,661)
Municipals, tax exempt	15,433		(230)		—		—		15,433		(230)

Total	$	63,074	$	(394)	$	175,730	$	(1,497)	$	238,804	$	(1,891)

As of June 30, 2020 and December 31, 2019, the Company’s securities portfolio consisted of 445 and 365 securities, 8 and 58 of which were in an unrealized loss position, respectively.

As of June 30, 2020, Company evaluated available-for-sale debt securities with unrealized losses for expected credit loss and recorded no allowance for credit loss as the majority of the investment portfolio was either government guaranteed or an issuance of a government sponsored entity, was highly rated by major credit rating agencies and have a long history of zero losses. As such, no provision for credit losses was recorded during the three and six months ended June 30, 2020.