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

⁽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:


	June 30, 2022
	Less Than 12 Months				12 Months or Longer				Total
			Unrealized				Unrealized				Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
U.S. Treasury securities	$	24,176	$	(956)	$	14,082	$	(1,010)	$	38,258	$	(1,966)
U.S. government agency mortgage-backed securities-residential		128,642		(14,543)		36,564		(5,678)		165,206		(20,221)
U.S. government agency securities		22,403		(1,388)		899		(101)		23,302		(1,489)
Municipal securities		2,992		(147)		1,214		(117)		4,206		(264)
Corporate bonds		10,731		(568)		391		(9)		11,122		(577)
Total	$	188,944	$	(17,602)	$	53,150	$	(6,915)	$	242,094	$	(24,517)


	December 31, 2021
	Less Than 12 Months				12 Months or Longer				Total
			Unrealized				Unrealized				Unrealized
	Fair Value		Losses		Fair Value		Losses		Fair Value		Losses
U.S. Treasury securities	$	49,007	$	(268)	$	5,797	$	(182)	$	54,804	$	(450)
U.S. government agency mortgage-backed securities-residential		139,019		(3,035)		11,002		(311)		150,021		(3,346)
U.S. government agency securities		14,625		(131)		—		—		14,625		(131)
Municipal securities		2,469		(40)		—		—		2,469		(40)
Corporate bonds		5,885		(65)		—		—		5,885		(65)
Total	$	211,005	$	(3,539)	$	16,799	$	(493)	$	227,804	$	(4,032)

At June 30, 2022, the Company had 239 individual available-for-sale securities in an unrealized loss position with unrealized losses totaling $24,517 with an aggregate depreciation of 10.13% 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. 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; therefore, the Company did not consider those investments to be other-than-temporarily impaired at June 30, 2022.

The amortized cost and fair value of available for sale debt securities at June 30, 2022 and December 31, 2021, 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:


	June 30, 2022				December 31, 2021
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Maturity:
Within 1 year	$	6,945	$	6,825	$	12,729	$	12,726
After 1 but within 5 years		56,211		52,954		67,912		67,463
After 5 but within 10 years		20,560		19,651		22,595		22,567
After 10 years		145		145		395		394
Total Maturities		83,861		79,575		103,631		103,150

Mortgage-backed securities		185,427		165,206		179,493		176,491
Other		642		847		620		642
Total	$	269,930	$	245,628	$	283,744	$	280,283

At June 30, 2022 and December 31, 2021, available for sale securities with a carrying value of $3,973 and $8,316, respectively, were pledged to secure Federal Home Loan Bank of New York (“FHLB”) borrowings. In addition, at June 30, 2022 and December 31, 2021, $956 and $1,054 of available for sale securities were pledged to secure borrowings at the Federal Reserve Bank of New York (“FRB”), respectively.

During the six months ended June 30, 2022, there was $14,826 in proceeds from the sales of available for sale securities with $162 in gross losses realized.