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Securities
 3 Months Ended
Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Securities Securities
 
The amortized cost, gross unrealized gains and losses and fair value of securities available-for-sale are summarized as follows (in thousands): 
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
March 31, 2020:
U.S. Government-sponsored enterprises (GSEs)$17,012  $96  $(63) $17,045  
Municipal securities82,599  970  (252) 83,317  
Other debt securities5,461  129  (128) 5,462  
Mortgage-backed securities (GSEs)94,306  1,482  (610) 95,178  
 $199,378  $2,677  $(1,053) $201,002  

December 31, 2019:
U.S. Government-sponsored enterprises (GSEs)$19,015  $41  $(56) $19,000  
Municipal securities63,792  618  (19) 64,391  
Other debt securities3,481  22  (33) 3,470  
Mortgage-backed securities (GSEs)91,531  382  (426) 91,487  
 $177,819  $1,063  $(534) $178,348  
 
At March 31, 2020, and December 31, 2019, securities with a carrying value totaling approximately $95.7 million and $92.3 million, respectively, were pledged to secure public funds and securities sold under agreements to repurchase.

For the three months ended March 31, 2020, approximately $2.1 million available-for-sale securities were sold and there were no gains or losses realized. For the three months ended March 31, 2019, there were no available-for-sale securities sold. For the three months ended March 31, 2020, there were approximately $3.3 million available-for-sale securities redeemed. For the three months ended March 31, 2019, there were approximately $5 million available-for-sale securities redeemed.

The amortized cost and estimated fair value of securities at March 31, 2020, by contractual maturity for non-mortgage backed securities are shown below (in thousands). Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
Amortized
Cost		Fair
Value
Due in one year or less$8,491  $8,440  
Due from one year to five years5,177  5,182  
Due from five years to ten years19,145  19,254  
Due after ten years72,258  72,947  
 105,071  105,823  
Mortgage-backed securities94,307  95,179  
 $199,378  $201,002  

The following tables present the gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities available-for-sale have been in a continuous unrealized loss position (in thousands): 
 Less than 12 Months12 Months or GreaterTotal
Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
March 31, 2020:
U.S. Government- sponsored enterprises (GSEs)$696  $(63) $—  $—  $696  $(63) 
Municipal securities16,370  (250) 527  (2) 16,897  (252) 
Other debt securities1,970  (10) 863  (118) 2,833  (128) 
Mortgage-backed securities (GSEs)29,967  (425) 7,125  (185) 37,092  (610) 
$49,003  $(748) $8,515  $(305) $57,518  $(1,053) 
Less than 12 Months12 Months or GreaterTotal
Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses		Fair
Value		Gross
Unrealized
Losses
December 31, 2019:
U.S. Government- sponsored enterprises (GSEs)$2,972  $(43) $5,987  $(13) $8,959  $(56) 
Municipal securities3,656  (16) 527  (3) 4,183  (19) 
Other debt securities—  —  947  (33) 947  (33) 
Mortgage-backed securities (GSEs)13,208  (194) 19,988  (232) 33,196  (426) 
 $19,836  $(253) $27,449  $(281) $47,285  $(534) 

At March 31, 2020, the categories of temporarily impaired securities in an unrealized loss position twelve months or greater are as follows (dollars in thousands):
Gross Unrealized LossNumber
of
Securities
U.S. Government-sponsored enterprises (GSEs)$—  —  
Municipal securities(2) 1  
Other debt securities(118) 1  
Mortgage-backed securities (GSEs)(185) 11  
$(305) 13  

The Company reviews the securities portfolio on a quarterly basis to monitor its exposure to other-than-temporary impairment. A determination as to whether a security's decline in fair value is other-than-temporary takes into consideration numerous factors and the relative significance of any single factor can vary by security. Some factors the Company may consider in the other-than-temporary impairment analysis include the length of time and extent to which the security has been in an unrealized loss position, changes in security ratings, financial condition and near-term prospects of the issuer, as well as security and industry specific economic conditions.

Based on this evaluation, the Company concluded that any unrealized losses at March 31, 2020, represented a temporary impairment, as these unrealized losses are primarily attributable to changes in interest rates and current market conditions, and not credit deterioration of the issuers. As of March 31, 2020, the Company does not intend to sell any of the securities, does not expect to be required to sell any of the securities, and expects to recover the entire amortized cost of all of the securities.

The following is the amortized cost and carrying value of other investments (in thousands):
March 31,December 31,
20202019
Federal Reserve Bank stock$7,925  $7,917  
Federal Home Loan Bank stock5,838  4,646  
First National Bankers Bank stock350  350  
$14,113  $12,913  
Our restricted investments consist of non-marketable equity securities that have no readily determinable market value. Accordingly, when evaluating these securities for impairment, management considers the ultimate recoverability of the par value rather than recognizing temporary declines in value. As of March 31, 2020, the Company determined that there was no impairment on its other securities.