NOTE 5 Investments

At December 31, 2014, the Company’s amortized cost and fair values of fixed maturity securities are summarized as follows:


(in thousands)	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. Treasury securities, obligations of U.S. Government agencies and Municipals	$	10,774	$	7	$	(1	)	$	10,780
Foreign government		50		—		—			50
Corporate debt		5,854		9		(11	)		5,852
Short duration fixed income fund		3,143		37		—			3,180

Total	$	19,821	$	53	$	(12	)	$	19,862

The following table shows the investments’ gross unrealized loss and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2014.


(in thousands)	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. Treasury securities, obligations of U.S. Government agencies and Municipals	$	3,994	$	1	$	—	$	—	$	3,994	$	1
Foreign Government		50		—		—		—		50		—
Corporate debt		4,439		11		—		—		4,439		11

Total	$	8,483	$	12	$	—	$	—	$	8,483	$	12

The unrealized losses in the Company’s investments in U.S. Treasury Securities and obligations of U.S. Government Agencies and bonds from corporate issuers were caused by interest rate increases. At December 31, 2014, the Company had 38 securities in an unrealized loss position. The contractual cash flows of the U.S. Treasury Securities and obligations of the U.S. Government agencies investments are either guaranteed by the U.S. Government or an agency of the U.S. Government. Accordingly, it is expected that the securities would not be settled at a price less than the amortized cost of the Company’s investment. The corporate securities are highly rated securities with no indicators of potential impairment. Based on the ability and intent of the Company to hold these investments until recovery of fair value, which may be maturity, the bonds were not considered to be other-than-temporarily impaired at December 31, 2014.

The amortized cost and estimated fair value of the fixed maturity securities at December 31, 2014 by contractual maturity are set forth below:


(in thousands)	Amortized Cost		Fair Value
Years to maturity:
Due in one year or less	$	5,628	$	5,628
Due after one year through five years		13,863		13,897
Due after five years through ten years		330		337

Total	$	19,821	$	19,862

The expected maturities in the foregoing table may differ from the contractual maturities because certain borrowers have the right to call or prepay obligations with or without penalty.

Proceeds from sales of the Company’s investment in fixed maturity securities were $0.2 million including maturities from the year ended December 31, 2014. There were no gains and losses realized on those sales for the year ended December 31, 2014.

Realized gains and losses are reported on the consolidated statements of income, with the cost of securities sold determined on a specific identification basis.