The following tables detail the amortized cost and the estimated fair value of the Company's investment securities held-to-maturity and securities available-for-sale (which include reverse mortgages):

					Gross		Gross
			Amortized		Unrealized		Unrealized		Fair
			Cost		Gains		Losses		Value
			(In Thousands)
Available-for-sale securities:
	September 30, 2011:
		Reverse mortgages	$	(418)	$	—	$	—	$	(418)
		U.S. Government and government
		sponsored enterprises ("GSE")		43,796		320		(21)		44,095
		State and political subdivisions		4,159		39		(2)		4,196
			$	47,537	$	359	$	(23)	$	47,873
	December 31, 2010:
		Reverse mortgages	$	(686)	$	—	$	—	$	(686)
		GSE		49,691		441		(129)		50,003
		State and political subdivisions		2,879		38		(2)		2,915
			$	51,884	$	479	$	(131)	$	52,232
Held-to-maturity:
	September 30, 2011:
		State and political subdivisions	$	219	$	1	$	—	$	220
			$	219	$	1	$	—	$	220

	December 31, 2010:
		State and political subdivisions	$	219	$	—	$	(23)	$	196
			$	219	$	—	$	(23)	$	196

Securities with market values aggregating $44.0 million at September 30, 2011 were specifically pledged for certain letters of credit and municipal deposits which require collateral.

The scheduled maturities of investment securities held-to-maturity and securities available-for-sale at September 30, 2011 and December 31, 2010 were as follows:

	Held-to-Maturity				Available-for-Sale
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
	(In Thousands)
September 30, 2011
Within one year (1)	$	—	$	—	$	10,139	$	10,204
After one year but within five years		—		—		35,084		35,357
After five years but within ten years		—		—		2,000		2,000
After ten years		219		220		314		312
	$	219	$	220	$	47,537	$	47,873
December 31, 2010
Within one year (1)	$	—	$	—	$	10,549	$	10,617
After one year but within five years		—		—		41,006		41,286
After five years but within ten years		—		—		—		—
After ten years		219		196		329		329
	$	219	$	196	$	51,884	$	52,232

(1) Reverse mortgages do not have contractual maturities. We have included reverse mortgages in maturities within one year.

We sold a $6.1 million investment security classified as available-for-sale during the first nine months of 2011 resulting in a gain on sale of $110,000. There were no sales of investment securities classified as available-for-sale during the first nine months of 2010 and, as a result, there were no net gains or losses realized during the 2010 period. The cost basis for investment security sales was based on the specific identification method. Investment securities totaling $500,000 and $720,000 were called by their issuers during the nine months ended September 30, 2011 and 2010, respectively.

At September 30, 2011, we owned investment securities totaling $4.5 million where the amortized cost basis exceeded the fair value. Total unrealized losses on those securities were $23,000 at September 30, 2011. This temporary impairment is the result of changes in market interest rates subsequent to the purchase of the securities. Securities with fair values of $135,000 have been impaired for 12 months or longer. We have determined that these securities are not other than temporarily impaired. Our investment portfolio is reviewed each quarter for indications of impairment. This review includes analyzing the length of time and the extent to which the fair value has been lower than the cost, the financial condition and near-term prospects of the issuer, including any specific events which may influence the operations of the issuer and the intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in the market. We evaluate our intent and ability to hold debt securities based upon our investment strategy for the particular type of security and our cash flow needs, liquidity position, capital adequacy and interest rate risk position. In addition, we do not have the intent to sell, nor is it more likely-than-not we will be required to sell these securities before we are able to recover the amortized cost basis.

The table below shows our investment securities' gross unrealized losses and fair value by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2011.

	Less than 12 months				12 months or longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Loss		Value		Loss		Value		Loss
	(In Thousands)
Held-to-maturity
State and political subdivisions	$	—	$	—	$	—	$	—	$	—	$	—

Available-for-sale
State and political subdivisions		312		1		135		1		447		2
U.S Government and agencies		4,046		21		—		—		4,046		21

Total temporarily impaired investments	$	4,358	$	22	$	135	$	1	$	4,493	$	23

The table below shows our investment securities' gross unrealized losses and fair value by investment category and length of time that individual securities were in a continuous unrealized loss position at December 31, 2010.

	Less than 12 months				12 months or longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Loss		Value		Loss		Value		Loss
	(In Thousands)
Held-to-maturity
State and political subdivisions	$	—	$	—	$	102	$	23	$	102	$	23

Available-for-sale
State and political subdivisions		502		2		—		—		502		2
U.S Government and agencies		12,994		129		—		—		12,994		129

Total temporarily impaired investments	$	13,496	$	131	$	102	$	23	$	13,598	$	154