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Securities | 3 Months Ended
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Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract] |
Securities | Securities The amortized cost, unrealized gross gains and losses recognized in accumulated other comprehensive income (loss), and fair value of Securities Available-for-Sale at March 31, 2019 and December 31, 2018, were as follows:
Securities Available-for-Sale: |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
March 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Obligations of State and Political Subdivisions |  | $ | 283,892 |  |  | $ | 8,640 |  |  | $ | (215 | ) |  | $ | 292,317 |
MBS/CMO - Residential |  | 537,302 |  |  | 2,487 |  |  | (7,509 | ) |  | 532,280 |
Total |  | $ | 821,194 |  |  | $ | 11,127 |  |  | $ | (7,724 | ) |  | $ | 824,597 |
December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |
Obligations of State and Political Subdivisions |  | $ | 291,449 |  |  | $ | 4,407 |  |  | $ | (1,323 | ) |  | $ | 294,533 |
MBS/CMO - Residential |  | 529,805 |  |  | 1,029 |  |  | (12,756 | ) |  | 518,078 |
Total |  | $ | 821,254 |  |  | $ | 5,436 |  |  | $ | (14,079 | ) |  | $ | 812,611 |
All mortgage-backed securities in the above table (identified above and throughout this Note 4 as "MBS/CMO - Residential") are residential mortgage-backed securities and guaranteed by government sponsored entities. The amortized cost and fair value of securities at March 31, 2019 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because some issuers have the right to call or prepay certain obligations with or without call or prepayment penalties. Mortgage-backed securities are not due at a single maturity date and are shown separately.
Securities Available-for-Sale: |  | Amortized Cost |  | Fair Value
Due in one year or less |  | $ | 2,206 |  |  | $ | 2,216 |
Due after one year through five years |  | 16,102 |  |  | 16,431 |
Due after five years through ten years |  | 76,237 |  |  | 78,748 |
Due after ten years |  | 189,347 |  |  | 194,922 |
MBS/CMO - Residential |  | 537,302 |  |  | 532,280 |
Total |  | $ | 821,194 |  |  | $ | 824,597 |
Proceeds from the Sales of Securities are summarized below:
|  | Three Months Ended |  | Three Months Ended
|  | March 31, 2019 |  | March 31, 2018
Proceeds from Sales |  | $ | 11,815 |  |  | $ | 7,295 |
Gross Gains on Sales |  | 155 |  |  | 270 |
Income Taxes on Gross Gains |  | 33 |  |  | 57 |
The carrying value of securities pledged to secure repurchase agreements, public and trust deposits, and for other purposes as required by law was $209,016 and $211,239 as of March 31, 2019 and December 31, 2018, respectively. Below is a summary of securities with unrealized losses as of March 31, 2019 and December 31, 2018, presented by length of time the securities have been in a continuous unrealized loss position:
|  | Less than 12 Months |  | 12 Months or More |  | Total
March 31, 2019 |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Obligations of State and Political Subdivisions |  | $ | — |  |  | $ | — |  |  | $ | 18,574 |  |  | $ | (215 | ) |  | $ | 18,574 |  |  | $ | (215 | )
MBS/CMO - Residential |  | 2 |  |  | — |  |  | 353,617 |  |  | (7,509 | ) |  | 353,619 |  |  | (7,509 | )
Total |  | $ | 2 |  |  | $ | — |  |  | $ | 372,191 |  |  | $ | (7,724 | ) |  | $ | 372,193 |  |  | $ | (7,724 | )
|  | Less than 12 Months |  | 12 Months or More |  | Total
December 31, 2018 |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Obligations of State and Political Subdivisions |  | $ | 37,936 |  |  | $ | (286 | ) |  | $ | 49,071 |  |  | $ | (1,037 | ) |  | $ | 87,007 |  |  | $ | (1,323 | )
MBS/CMO - Residential |  | 56,386 |  |  | (601 | ) |  | 356,218 |  |  | (12,155 | ) |  | 412,604 |  |  | (12,756 | )
Total |  | $ | 94,322 |  |  | $ | (887 | ) |  | $ | 405,289 |  |  | $ | (13,192 | ) |  | $ | 499,611 |  |  | $ | (14,079 | )
Securities are written down to fair value when a decline in fair value is not considered temporary. In estimating other-than-temporary losses, management considers many factors, including: (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, (3) whether the market decline was affected by macroeconomic conditions, and (4) whether the Company has the intent to sell the debt security or more likely than not will be required to sell the debt security before its anticipated recovery. The Company does not intend to sell or expect to be required to sell these securities, and the decline in fair value is largely due to changes in market interest rates. Therefore, the Company does not consider these securities to be other-than-temporarily impaired. All mortgage-backed securities and collateralized mortgage obligations (MBS/CMO - Residential) in the Company’s portfolio are guaranteed by government sponsored entities, are investment grade, and are performing as expected. The Company's equity securities are listed as Other Investments on the Consolidated Balance Sheets and consist of one non-controlling investment in a single banking organization at March 31, 2019 and December 31, 2018. The original investment totaled $1,350 and other-than-temporary impairment was previously recorded totaling $997. The Company's equity securities are considered not to have readily determinable fair value and are carried at cost and evaluated for impairment. At March 31, 2019, there was no additional impairment recognized through earnings.

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