
December 31, 2023	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(Dollars in thousands)

U.S. Government-sponsored enterprises	$	44,153	$	—	$	(4,802)	$	39,351
Agency MBS	182,568		88		(30,272)		152,384
State and political subdivisions	72,254		395		(6,210)		66,439
Corporate	6,358		—		(149)		6,209
Total	$	305,333	$	483	$	(41,433)	$	264,383


December 31, 2022	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(Dollars in thousands)

U.S. Government-sponsored enterprises	$	45,090	$	—	$	(5,845)	$	39,245
Agency MBS	198,478		104		(34,150)		164,432
State and political subdivisions	47,722		281		(7,537)		40,466
Corporate	6,343		—		(219)		6,124
Total	$	297,633	$	385	$	(47,751)	$	250,267

At December 31, 2023 and 2022, there were no investment securities HTM. Investment securities AFS with a fair value of $926 thousand and $433 thousand were pledged as collateral for public unit deposits or for other purposes as required or permitted by law at December 31, 2023 and 2022, respectively. Investment securities AFS pledged as collateral for BTFP borrowings at the FRB consisted of U.S. Government-sponsored enterprises and Agency MBS securities with a fair value of $8.9 million at December 31, 2023. The Company began utilizing the BTFP as a source of liquidity during 2023. (See Note 12.)

Information pertaining to AFS debt securities with gross unrealized losses, for which an ACL has not been recorded, 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, 2023	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)

U.S. Government- sponsored enterprises	2	$	2,891	$	(4)	32	$	36,460	$	(4,798)	34	$	39,351	$	(4,802)
Agency MBS	—	—		—		93	147,260		(30,272)		93	147,260		(30,272)
State and political subdivisions	10	14,532		(276)		65	40,720		(5,934)		75	55,252		(6,210)
Corporate	—	—		—		13	6,209		(149)		13	6,209		(149)


Total	12	$	17,423	$	(280)	203	$	230,649	$	(41,153)	215	$	248,072	$	(41,433)


December 31, 2022	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)

U.S. Government- sponsored enterprises	4	$	8,000	$	(533)	31	$	31,103	$	(5,312)	35	$	39,103	$	(5,845)
Agency MBS	31	24,306		(2,192)		62	134,297		(31,958)		93	158,603		(34,150)
State and political subdivisions	39	15,457		(1,846)		27	18,613		(5,691)		66	34,070		(7,537)
Corporate	10	4,719		(124)		3	1,405		(95)		13	6,124		(219)


Total	84	$	52,482	$	(4,695)	123	$	185,418	$	(43,056)	207	$	237,900	$	(47,751)

AFS debt securities in unrealized loss positions are evaluated for impairment related to credit losses and an ACL is recorded for any credit loss identified. No ACL for AFS debt securities was recorded at adoption of ASU No. 2016-13 or at December 31, 2023. Accrued interest receivable on AFS debt securities totaled $1.4 million and $984 thousand at December 31, 2023 and December 31, 2022, respectively, and is excluded from the estimate of credit losses. Under previously applicable GAAP, no ACL for AFS debt securities was required at December 31, 2022.

There were no dispositions of AFS securities for the year ended December 31, 2023. The following table presents the proceeds from sales and calls resulting in gross realized gains and gross realized losses from the disposition of AFS securities for the year ended December 31, 2022:



	2022
	(Dollars in thousands)
Proceeds from sales	$	6,827
Proceeds from calls	502

Gross gains	81
Gross losses	(50)
Net gains	$	31

The amortized cost and estimated fair value of debt securities by contractual scheduled maturity as of December 31, 2023, were as follows:


	Amortized Cost		Fair Value
Available-for-sale	(Dollars in thousands)
Due in one year or less	$	1,015	$	1,009
Due from one to five years	28,966		26,697
Due from five to ten years	22,151		20,063
Due after ten years	70,633		64,230
	122,765		111,999
Agency MBS	182,568		152,384
Total	$	305,333	$	264,383

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.