Note 3. Available-for-Sale Securities

The amortized cost, gross unrealized gains and losses, and fair value of available-for-sale securities at December 31, 2017 and 2016 are summarized as follows:

	December 31, 2017
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses			Fair Value
U.S. Government and Federal Agencies	$	24,911	$	—	$	(359	)	$	24,552
Mortgage-Backed Securities:
FNMA Certificates		1,118		—		(15	)		1,103
GNMA Certificates		3,205		38		(1	)		3,242
	$	29,234	$	38	$	(375	)	$	28,897

	December 31, 2016
			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses			Fair Value
U.S. Government and Federal Agencies	$	41,906	$	—	$	(347	)	$	41,559
Certificates of Deposit		500		—		—			500
Mortgage-Backed Securities:
FHLMC Certificates		192		24		—			216
FNMA Certificates		3,600		11		(5	)		3,606
GNMA Certificates		6,744		97		(32	)		6,809
	$	52,942	$	132	$	(384	)	$	52,690

There were no investments that were classified as held to maturity as of December 31, 2017 and 2016. There were $20,411 in sales of investment securities during the year ended December 31, 2017 and no sales of investment securities in 2016.

The following tables present the Company's securities' gross unrealized losses and fair values, aggregated by the length of time the individual securities have been in a continuous unrealized loss position, at December 31, 2017 and 2016:

	December 31, 2017
	Securities With Gross Unrealized Losses
	Less Than 12 Months					12 Months or More					Total		Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
	Value		Loss			Value		Loss			Value		Loss
U.S. Government and Federal Agencies	$	—	$	—		$	24,552	$	(359	)	$	24,552	$	(359	)
Mortgage-Backed
FNMA Certificates		1,094		(15	)		—		—			1,094		(15	)
GNMA Certificates		1,205		(1	)		—		—			1,205		(1	)
	$	2,299	$	(16	)	$	24,552	$	(359	)	$	26,851	$	(375	)

	December 31, 2016
	Securities With Gross Unrealized Losses
	Less Than 12 Months					12 Months or More				Total		Total
	Fair		Unrealized			Fair		Unrealized		Fair		Unrealized
	Value		Loss			Value		Loss		Value		Loss
U.S. Government and Federal Agencies	$	41,559	$	(347	)	$	—	$	—	$	41,559	$	(347	)
Mortgage-Backed
FNMA Certificates		3,489		(5	)		—		—		3,489		(5	)
GNMA Certificates		2,645		(32	)		—		—		2,645		(32	)
	$	47,693	$	(384	)	$	—	$	—	$	47,693	$	(384	)

Note 3. Available-for-Sale-Securities (Continued)

The Company’s investment portfolio had 33 and 52 investment securities at December 31, 2017 and 2016, respectively. At December 31, 2017 and 2016, the Company had 14 and 25 securities, respectively, with a gross unrealized loss position. Management reviewed the financial condition of the entities underlying the securities at both December 31, 2017 and 2016 and determined that they are not other than temporary because the unrealized losses in those securities relate to market interest rate changes the Company has the ability to hold them and does not have the intent to sell these securities, and it is not more likely than not that the Company will be required to sell these securities, before recovery of the cost basis. In addition, management also considers the issuers of the securities to be financially sound and believes the Company will receive all contractual principal and interest related to these investments.

The following is a summary of maturities of securities at December 31, 2017 and 2016. Amounts are shown by contractual maturity. Because borrowers of the underlying collateral for mortgage-backed securities have the right to prepay obligations with or without prepayment penalties, at any time, these securities are included as a total within the table.

	December 31, 2017
	Available-for-Sale
	Amortized		Fair
	Cost		Value
U.S. Government and Federal Agency Securities:
Amounts maturing:
Three months or less	$	—	$	—
After three months through one year		1,990		1,977
After one year through five years		22,921		22,575
		24,911		24,552
Mortgage-Backed Securities		4,323		4,345
Total	$	29,234	$	28,897

	December 31, 2016
	Available-for-Sale
	Amortized		Fair
	Cost		Value
U.S. Government and Federal Agency Securities:
Amounts maturing:
After three months through one year	$	2,000	$	1,998
After one year through five years		39,906		39,561
		41,906		41,559
Certificates of Deposit
After three months through one year		500		500
Mortgage-Backed Securities		10,536		10,631
Total	$	52,942	$	52,690

There were no securities pledged at December 31, 2017 and December 31, 2016.