Securities Held-to-Maturity

3 Months Ended

Mar. 31, 2021

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Securities Held-to-Maturity

6. Securities Held-to-Maturity

The following table is a summary of the Company’s securities held-to-maturity:

	March 31, 2021		December 31, 2020
Debt instruments: Pass-through GSEs (amortized cost)	$	411	$	451

During the three months ended March 31, 2021 and 2020, the Company received proceeds of $38 and $6,030, respectively, from held-to-maturity securities maturing or being called prior to maturity.

The following table summarizes unrealized gains, losses, and fair value (classified as Level 2 within the fair value hierarchy) of securities held-to-maturity:

	March 31, 2021			December 31, 2020
Cost/amortized cost	$	411		$	451
Gross unrealized gains		20			30
Gross unrealized losses		(1	)		(12	)
Fair value	$	430		$	469

An allowance for credit losses was not provided on the Company’s held-to-maturity securities as all securities are investments in pass-through GSEs which are determined to have an estimated loss rate of zero due to an implicit U.S. government guarantee.

The following table sets forth the maturity profile of the securities held-to-maturity; however, these securities may be called prior to maturity date:

	March 31, 2021		December 31, 2020
Due within one year	$	—	$	—
Due one year through five years		—		—
Due five years through ten years		—		—
Due over ten years		411		451
Total	$	411	$	451