Summary information regarding the Company’s investment securities classified as available for sale and held to maturity as of December 31, 2019 and 2018 follows.


(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses						Fair Value
					Less Than 1 Year		Over 1 Year
December 31, 2019
Securities available for sale:
U.S. agency mortgage-backed	$	94,446	$	1,081	$	292	$	63	$	95,172
Collateralized mortgage obligations	142,408		701		300		358		142,451
Municipal bonds	15,895		166		56		—		16,005
U.S. government agency	3,696		11		4		10		3,693
Total available for sale	$	256,445	$	1,959	$	652	$	431	$	257,321
Securities held to maturity:
Municipal bonds	$	7,149	$	45	$	—	$	—	$	7,194
Total held to maturity	$	7,149	$	45	$	—	$	—	$	7,194


(dollars in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses						Fair Value
December 31, 2018					Less Than 1 Year		Over 1 Year
Securities available for sale:
U.S. agency mortgage-backed	$	86,487	$	485	$	171	$	892	$	85,909
Collateralized mortgage obligations	145,814		129		161		2,191		143,591
Municipal bonds	21,453		52		16		12		21,477
U.S. government agency	9,169		29		19		25		9,154
Total available for sale	$	262,923	$	695	$	367	$	3,120	$	260,131
Securities held to maturity:
Municipal bonds	$	10,872	$	11	$	5	$	37	$	10,841
Total held to maturity	$	10,872	$	11	$	5	$	37	$	10,841

Management evaluates securities for other-than-temporary impairment at least quarterly, and more frequently when economic and market conditions warrant such evaluations. Consideration is given to (1) the extent and length of time the fair value has been below cost; (2) the reasons for the decline in value; (3) the Company’s intent to sell a security or whether it is more likely than not we will be required to sell the security before the recovery of its amortized cost, which may extend to maturity and our ability and intent to hold the security for a period of time that allows for the recovery in value in the case of equity securities.

The Company performs a process to identify securities that could potentially have a credit impairment that is other-than-temporary. This process involves evaluating each security for impairment by monitoring credit performance, collateral type, collateral geography, bond credit support, loan-to-value ratios, credit scores, loss severity levels, pricing levels, downgrades by rating agencies, cash flow projections and other factors as indicators of potential credit issues. When the Company determines that a security is deemed to be other than temporarily impaired, an impairment loss is recognized.

The Company's investment securities with unrealized losses, aggregated by type and length of time that individual securities have been in a continuous loss position, are summarized in the following tables.


(dollars in thousands)	Less Than 1 Year						Over 1 Year						Total
December 31, 2019	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Securities available for sale:
U.S. agency mortgage-backed	$	28,847	$	292	$	5,148	$	63	$	33,995	$	355
Collateralized mortgage obligations	50,004		300		37,131		358		87,135		658
Municipal bonds	3,044		56		—		—		3,044		56
U.S. government agency	1,213		4		466		10		1,679		14
Total available for sale	$	83,108	$	652	$	42,745	$	431	$	125,853	$	1,083
Held to maturity:
Municipal bonds	$	—	$	—	$	—	$	—	$	—	$	—
Total held to maturity	$	—	$	—	$	—	$	—	$	—	$	—


(dollars in thousands)	Less Than 1 Year						Over 1 Year						Total
December 31, 2018	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Securities available for sale:
U.S. agency mortgage-backed	$	23,086	$	171	$	36,690	$	892	$	59,776	$	1,063
Collateralized mortgage obligations	24,941		161		81,442		2,191		106,383		2,352
Municipal bonds	5,018		16		2,833		12		7,851		28
U.S. government agency	849		19		3,974		25		4,823		44
Total available for sale	$	53,894	$	367	$	124,939	$	3,120	$	178,833	$	3,487
Held to maturity:
Municipal bonds	$	4,018	$	5	$	2,839	$	37	$	6,857	$	42
Total held to maturity	$	4,018	$	5	$	2,839	$	37	$	6,857	$	42

As of December 31, 2019, 66 of the Company’s debt securities had unrealized losses totaling 0.9% of the individual securities’ amortized cost basis and 0.4% of the Company’s total amortized cost basis of the investment securities portfolio. Of the 66 securities, 34 had been in a continuous loss position for over 12 months at such date. Management has the intent and ability to hold these debt securities until maturity or until anticipated recovery. No declines in these 66 securities were deemed to be other-than-temporary.

The amortized cost and estimated fair value by maturity of the Company’s investment securities as of December 31, 2019 are shown in the following tables. Securities are classified according to their contractual maturities without consideration of principal amortization, potential prepayments or call options. The expected maturity of a security may differ from its contractual maturity because of the exercise of call options and potential paydowns. Accordingly, actual maturities may differ from contractual maturities.


(dollars in thousands)	One Year or Less		After One Year through Five Years		After Five Years through Ten Years		After Ten Years		Total
Fair Value
Securities available for sale:
U.S. agency mortgage-backed	$	66	$	16,306	$	50,888	$	27,912	$	95,172
Collateralized mortgage obligations	1,689		5,356		34,269		101,137		142,451
Municipal bonds	1,208		7,209		6,180		1,408		16,005
U.S. government agency	—		—		3,227		466		3,693
Total securities available for sale	$	2,963	$	28,871	$	94,564	$	130,923	$	257,321
Securities held to maturity:
Municipal bonds	$	—	$	2,970	$	4,224	$	—	$	7,194
Total securities held to maturity	$	—	$	2,970	$	4,224	$	—	$	7,194


(dollars in thousands)	One Year or Less		After One Year through Five Years		After Five Years through Ten Years		After Ten Years		Total
Amortized Cost
Securities available for sale:
U.S. agency mortgage-backed	$	64	$	16,222	$	50,789	$	27,371	$	94,446
Collateralized mortgage obligations	1,688		5,356		33,894		101,470		142,408
Municipal bonds	1,207		7,173		6,162		1,353		15,895
U.S. government agency	—		—		3,220		476		3,696
Total securities available for sale	$	2,959	$	28,751	$	94,065	$	130,670	$	256,445
Securities held to maturity:
Municipal bonds	$	—	$	2,961	$	4,188	$	—	$	7,149
Total securities held to maturity	$	—	$	2,961	$	4,188	$	—	$	7,149

For the years ended December 31, 2019, 2018 and 2017, the Company recorded no gross gains or losses related to the sale of investment securities.

As of December 31, 2019 and 2018, the Company had accrued interest receivable for investment securities of $894,000 and $1,076,000, respectively.

As of December 31, 2019 and 2018, the Company had $157,091,000 and $157,198,000, respectively, of securities pledged to secure public deposits.