2. Available for Sale Securities

The amortized cost, gross unrealized gains and losses and fair values of available for sale securities are as follows:


	December 31, 2020
			Gross		Gross
			Unrealized		Unrealized
	Amortized Cost		Gains		Losses		Fair Value
U.S. government agency mortgage-backed securities–residential	$	88,197	$	1,350	$	(277)	$	89,270
U.S. government agency securities		7,013		148		—		7,161
Municipal securities(1)		1,445		31		—		1,476
Corporate bonds		4,400		49		(3)		4,446
Other		621		—		(41)		580
Total	$	101,676	$	1,578	$	(321)	$	102,933


	December 31, 2019
			Gross		Gross
			Unrealized		Unrealized
	Amortized Cost		Gains		Losses		Fair Value
U.S. government agency mortgage-backed securities–residential	$	98,842	$	464	$	(828)	$	98,478
U.S. government agency securities		12,049		53		(26)		12,076
Municipal securities(1)		1,384		17		(5)		1,396
Corporate bonds		2,250		25		(2)		2,273
Other		555		54		—		609
Total	$	115,080	$	613	$	(861)	$	114,832

(1) The issuers of municipal securities are all within New York State.

The following table presents the fair value and unrealized losses of the Company’s available for sale securities with gross unrealized losses aggregated by the length of time the individual securities have been in a continuous unrealized loss position:


	December 31, 2020
	Less Than 12 Months				12 Months or Longer				Total
			Unrealized				Unrealized				Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
U.S. government agency mortgage-backed securities-residential	$	30,243	$	(269)	$	293	$	(8)	$	30,536	$	(277)
Corporate Bonds		747		(3)		—		—		747		(3)
Other		522		(41)		—		—		522		(41)
Total	$	31,512	$	(313)	$	293	$	(8)	$	31,805	$	(321)


	December 31, 2019
	Less Than 12 Months				12 Months or Longer				Total
			Unrealized				Unrealized				Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
U.S. government agency mortgage-backed securities-residential	$	35,612	$	(302)	$	27,252	$	(526)	$	62,864	$	(828)
U.S. government agency securities		—		—		7,001		(26)		7,001		(26)
Municipal Securities		490		(5)		—		—		490		(5)
Corporate Bonds		749		(2)		—		—		749		(2)
Total	$	36,851	$	(309)	$	34,253	$	(552)	$	71,104	$	(861)

At December 31, 2020 and 2019, the Company had 36 and 80 individual available-for-sale securities with unrealized losses totaling $321 and $861, respectively, with an aggregate depreciation of 1.01% and 1.21%, respectively, from the Company’s amortized cost.

Management believes that none of the unrealized losses on available for sale securities are other-than-temporary because substantially all of the unrealized losses in the Company’s investment portfolio relate to market interest rate changes on debt and mortgage-backed securities issued either directly by the government or from government sponsored enterprises. Because the Company does not intend to sell the securities and it is not likely that the Company will be required to sell the securities before recovery of their amortized cost basis, which may be maturity, the Company does not consider those investments to be other-than-temporarily impaired either at December 31, 2020 or 2019.

The amortized cost and fair value of available for sale debt securities at December 31, 2020 and 2019, by contractual maturities, are presented below. Actual maturities of mortgage-backed securities may differ from contractual maturities because the mortgages underlying the securities may be called or repaid without any penalties. Because mortgage-backed securities are not due at a single maturity date, they are not included in the maturity categories in the following maturity summary:


	December 31, 2020				December 31, 2019
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Maturity:
Within 1 year	$	102	$	102	$	175	$	175
After 1 but within 5 years		2,155		2,155		7,027		7,001
After 5 but within 10 years		9,946		10,162		7,806		7,899
After 10 years		655		664		675		670
Total Maturities		12,858		13,083		15,683		15,745

Mortgage-backed securities		88,197		89,270		98,842		98,478
Other		621		580		555		609
Total	$	101,676	$	102,933	$	115,080	$	114,832

At December 31, 2020 and 2019, available for sale securities with a carrying value of $18,123 and $23,782, respectively, were pledged to secure Federal Home Loan Bank of New York borrowings. In addition, $1,059 and $726 of available for sale securities, respectively, were pledged to secure borrowings at the Federal Reserve Bank of New York (“FRBNY”).

Proceeds from the sale of available for sale securities and calls aggregated $6,996 and $11,938 for the years ended December 31, 2020 and 2019, respectively. There were no gross gains during the periods ended December 31, 2020 and December 31, 2019. During the periods ended December 31, 2020 and 2019, there were gross losses of $29 and $69, respectively, realized on the sales of securities.