The following table summarizes the amortized cost, the corresponding amounts of gross unrealized gains and losses, and estimated fair value of securities available for sale as of March 31, 2021 and December 31, 2020:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
As of March 31, 2021:	(Dollars in thousands)
Available for sale:
U.S. Government sponsored agency securities	$	1,000	$	1	$	—		$	1,001
Mortgage-backed securities: residential		25,196		352		(120	)		25,428
Collateralized mortgage obligations: residential		75,772		679		(467	)		75,984
Total available for sale	$	101,968	$	1,032	$	(587	)	$	102,413

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
As of December 31, 2020:	(Dollars in thousands)
Available for sale:
U.S. Government sponsored agency securities	$	1,000	$	5	$	—		$	1,005
Mortgage-backed securities: residential		19,281		430		(7	)		19,704
Collateralized mortgage obligations: residential		70,318		814		(50	)		71,082
Total available for sale	$	90,599	$	1,249	$	(57	)	$	91,791

There were no sales of securities available for sale in the three months ended March 31, 2021 or 2020. The amortized cost and estimated fair value of securities available for sale at March 31, 2021, by contractual maturity, are shown below. Securities without a contractual maturity are shown separately.

	Amortized Cost		Fair Value
As of March 31, 2021:	(Dollars in thousands)
Available for sale:
Within one year	$	1,000	$	1,001
One to five years		938		978
Mortgage-backed securities: residential		24,258		24,450
Collateralized mortgage obligations: residential		75,772		75,984
Total available for sale	$	101,968	$	102,413

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. At March 31, 2021 and December 31, 2020, 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.

The following table summarizes securities with unrealized losses as of March 31, 2021 and December 31, 2020, respectively, aggregated by length of time held in a continuous unrealized loss position:

	Less Than 12 Months					12 Months or Longer				Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
As of March 31, 2021:	(Dollars in thousands)
Available for sale:
Mortgage-backed securities: residential	$	12,426	$	(120	)	$	—	$	—	$	12,426	$	(120	)
Collateralized mortgage obligations: residential		34,616		(467	)		—		—		34,616		(467	)
Total available for sale	$	47,042	$	(587	)	$	—	$	—	$	47,042	$	(587	)

	Less Than 12 Months					12 Months or Longer				Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
As of December 31, 2020:	(Dollars in thousands)
Available for sale:
Mortgage-backed securities: residential	$	3,089	$	(7	)	$	—	$	—	$	3,089	$	(7	)
Collateralized mortgage obligations: residential		13,593		(50	)		—		—		13,593		(50	)
Total available for sale	$	16,682	$	(57	)	$	-	$	-	$	16,682	$	(57	)

Management evaluates securities for other-than-temporary impairment (“OTTI”) on at least a quarterly basis, and more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, along with the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or whether it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components, as follows: (i) OTTI related to credit loss, which must be recognized in the income statement, and (ii) OTTI related to other factors, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. As of March 31, 2021, management believes no securities with unrealized losses were OTTI.

There were no securities pledged as collateral as of March 31, 2021 or December 31, 2020.

Other investments as of March 31, 2021 and December 31, 2020, consisted of the following:

	March 31, 2021		December 31, 2020
	(Dollars in thousands)
Federal Home Loan Bank (FHLB) stock	$	6,043	$	6,043
Pacific Coast Bankers Bank (PCBB) stock		190		190
Mutual fund - CRA qualified		3,720		3,773
Total other investments	$	9,953	$	10,006

As of March 31, 2021 and December 31, 2020, the Company has $3.7 million and $3.8 million, respectively, of a mutual fund that the Company invested to satisfy the CRA requirements, which is reported at fair value. Unrealized holding losses on this investment were $79,000 for the three months ended March 31, 2021 and unrealized holding gains on this investment were $58,000 for the three months ended March 31, 2020. These gains and losses are included in Other Income in the Statements of Income.