Investment Securities

Investment securities as of the balance sheet dates consisted of the following:



December 31, 2019	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(Dollars in thousands)
Available-for-sale
Debt securities:
U.S. Government-sponsored enterprises	$	6,349	$	19	$	(76	)	$	6,292
Agency MBS	45,503		602		(81		)	46,024
State and political subdivisions	26,489		515		(39		)	26,965
Corporate	7,804		378		(70		)	8,112
Total	$	86,145	$	1,514	$	(266	)	$	87,393



December 31, 2018	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(Dollars in thousands)
Available-for-sale
Debt securities:
U.S. Government-sponsored enterprises	$	6,528	$	1	$	(208	)	$	6,321
Agency MBS	36,851		84		(683		)	36,252
State and political subdivisions	23,527		130		(486		)	23,171
Corporate	7,792		18		(149		)	7,661
Total	$	74,698	$	233	$	(1,526	)	$	73,405

There were no investment securities HTM at December 31, 2019 or December 31, 2018. There were no investment securities pledged as collateral at December 31, 2019. At December 31, 2018, investment securities AFS with a carrying amount of $2.5 million were pledged as collateral for public deposits and for other purposes as required or permitted by law.

Information pertaining to all investment securities with gross unrealized losses as of the balance sheet dates, aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows:



December 31, 2019	Less Than 12 Months						12 Months and Over						Total
	Number of Securities	Fair Value		Gross Unrealized Loss			Number of Securities	Fair Value		Gross Unrealized Loss			Number of Securities	Fair Value		Gross Unrealized Loss
		(Dollars in thousands)
Debt securities:
U.S. Government- sponsored enterprises	4	$	2,376	$	(22	)	8	$	2,772	$	(54	)	12	$	5,148	$	(76	)
Agency MBS	8	6,193		(38		)	8	4,861		(43		)	16	11,054		(81		)
State and political subdivisions	9	3,813		(38		)	1	304		(1		)	10	4,117		(39		)
Corporate	—	—		—			3	1,430		(70		)	3	1,430		(70		)
Total	21	$	12,382	$	(98	)	20	$	9,367	$	(168	)	41	$	21,749	$	(266	)



December 31, 2018	Less Than 12 Months						12 Months and Over						Total
	Number of Securities	Fair Value		Gross Unrealized Loss			Number of Securities	Fair Value		Gross Unrealized Loss			Number of Securities	Fair Value		Gross Unrealized Loss
		(Dollars in thousands)
Debt securities:
U.S. Government- sponsored enterprises	2	$	1,184	$	(11	)	12	$	4,854	$	(197	)	14	$	6,038	$	(208	)
Agency MBS	5	3,516		(21		)	40	26,198		(662		)	45	29,714		(683		)
State and political subdivisions	4	1,301		(16		)	36	15,067		(470		)	40	16,368		(486		)
Corporate	5	2,424		(12		)	5	2,285		(137		)	10	4,709		(149		)
Total	16	$	8,425	$	(60	)	93	$	48,404	$	(1,466	)	109	$	56,829	$	(1,526	)

The Company has the ability to hold the investment securities that had unrealized losses at December 31, 2019 for the foreseeable future and no declines were deemed by management to be OTT.

The following table presents the proceeds, gross gains and gross losses from sales of AFS securities:



	For The Years Ended December 31,
	2019			2018
	(Dollars in thousands)
Proceeds	$	10,335		$	1,060
Gross gains	62			10
Gross losses	(37		)	—
Net gains	$	25		$	10

The amortized cost and estimated fair value of debt securities by contractual scheduled maturity as of December 31, 2019, were as follows:



	Amortized Cost		Fair Value
Available-for-sale	(Dollars in thousands)
Due in one year or less	$	680	$	688
Due from one to five years	3,767		3,923
Due from five to ten years	16,655		17,019
Due after ten years	19,540		19,739
	40,642		41,369
Agency MBS	45,503		46,024
Total	$	86,145	$	87,393

Actual maturities may differ for certain debt securities that may be called by the issuer prior to the contractual maturity. Actual maturities may differ from contractual maturities on agency MBS because the mortgages underlying the securities may be prepaid, usually without any penalties. Therefore, these agency MBS are shown separately and not included in the contractual maturity categories in the above maturity summary.