
September 30, 2020	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(Dollars in thousands)
Available-for-sale
Debt securities:
U.S. Government-sponsored enterprises	$	4,658	$	139	$	(39)	$	4,758
Agency mortgage-backed	44,357		1,434		(38)		45,753
State and political subdivisions	28,008		1,229		(12)		29,225
Corporate	7,814		647		(77)		8,384
Total	$	84,837	$	3,449	$	(166)	$	88,120


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 mortgage-backed	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

There were no investment securities HTM at September 30, 2020 or December 31, 2019. There were no investment securities pledged as collateral at September 30, 2020 or December 31, 2019.

The amortized cost and estimated fair value of debt securities by contractual scheduled maturity as of September 30, 2020 were as follows:


	Amortized Cost		Fair Value
Available-for-sale	(Dollars in thousands)
Due in one year or less	$	940	$	943
Due from one to five years	4,823		5,142
Due from five to ten years	12,861		13,523
Due after ten years	21,856		22,759
	40,480		42,367
Agency mortgage-backed	44,357		45,753
Total debt securities available-for-sale	$	84,837	$	88,120

Actual maturities may differ for certain debt securities that may be called by the issuer prior to the contractual maturity. Actual maturities usually 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 are not included in the contractual maturity categories in the above maturity summary.

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:


September 30, 2020	Less Than 12 Months					12 Months and over					Total
	Number of Securities	Fair Value		Gross Unrealized Losses		Number of Securities	Fair Value		Gross Unrealized Losses		Number of Securities	Fair Value		Gross Unrealized Losses
		(Dollars in thousands)
Debt securities:
U.S. Government- sponsored enterprises	—	$	—	$	—	8	$	1,787	$	(39)	8	$	1,787	$	(39)
Agency mortgage-backed	10	9,900		(32)		1	696		(6)		11	10,596		(38)
State and political subdivisions	1	569		(12)		—	—		—		1	569		(12)
Corporate	—	—		—		3	1,423		(77)		3	1,423		(77)


Total	11	$	10,469	$	(44)	12	$	3,906	$	(122)	23	$	14,375	$	(166)


December 31, 2019	Less Than 12 Months					12 Months and over					Total
	Number of Securities	Fair Value		Gross Unrealized Losses		Number of Securities	Fair Value		Gross Unrealized Losses		Number of Securities	Fair Value		Gross Unrealized Losses
		(Dollars in thousands)
Debt securities:
U.S. Government- sponsored enterprises	4	$	2,376	$	(22)	8	$	2,772	$	(54)	12	$	5,148	$	(76)
Agency mortgage-backed	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)

The Company evaluates all investment securities on a quarterly basis, and more frequently when economic conditions warrant, to determine if an OTTI exists. A security is considered impaired if the fair value is lower than its amortized cost basis at the report date. If impaired, management then assesses whether the unrealized loss is OTT.

An unrealized loss on a debt security is generally deemed to be OTT and a credit loss is deemed to exist if the present value of the expected future cash flows is less than the amortized cost basis of the debt security. The credit loss component of OTTI write-down is recorded, net of tax effect, through net income as a component of net OTTI losses in the consolidated statements of income, while the remaining portion of the impairment loss is recognized in OCI, provided the Company does not intend to sell the underlying debt security and it is "more likely than not" that the Company will not have to sell the debt security prior to recovery.

Management considers the following factors in determining whether OTTI exists and the period over which the security is expected to recover:

•The payment structure of the debt security and the likelihood of the issuer being able to make payments that may increase in the future;

•The nature of the issuer, including whether it is a private company, public entity or government-sponsored enterprise, and the existence or likelihood of any government or third party guaranty.

The Company has the ability to hold the investment securities that had unrealized losses at September 30, 2020 and December 31, 2019 for the foreseeable future and no declines were deemed by management to be OTT.

There were no sales of AFS securities during the three months ended September 30, 2020 and 2019. The following table presents the proceeds, gross realized gains and gross realized losses from the sales of AFS securities for the nine months ended September 30, 2020 and 2019:



	For The Nine Months Ended September 30,
		2020		2019

		(Dollars in thousands)
Proceeds		$	3,076	$	8,785

Gross gains		32		45
Gross losses		(21)		(37)
Net gains on sales of investment securities AFS		$	11	$	8