

	As of June 30, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In Thousands)
Available-for-sale:
U.S. government agency securities - government-sponsored enterprises	$	22,023	$	15	$	(68	)	$	21,970
Municipal securities	11,081		390		—			11,471
Residential mortgage-backed securities - government issued	12,296		587		—			12,883
Residential mortgage-backed securities - government-sponsored enterprises	101,005		3,084		—			104,089
Commercial mortgage-backed securities - government issued	6,161		205		—			6,366
Commercial mortgage-backed securities - government-sponsored enterprises	11,854		750		—			12,604
Other securities	2,205		92		—			2,297
	$	166,625	$	5,123	$	(68	)	$	171,680



	As of December 31, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In Thousands)
Available-for-sale:
U.S. government agency securities - government-sponsored enterprises	$	23,616	$	152	$	(10	)	$	23,758
Municipal securities	160		—		—			160
Residential mortgage-backed securities - government issued	16,119		234		(5		)	16,348
Residential mortgage-backed securities - government-sponsored enterprises	111,561		847		(406		)	112,002
Commercial mortgage-backed securities - government issued	6,705		45		(87		)	6,663
Commercial mortgage-backed securities - government-sponsored enterprises	11,953		23		(9		)	11,967
Other securities	2,205		30		—			2,235
	$	172,319	$	1,331	$	(517	)	$	173,133



	As of June 30, 2020
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In Thousands)
Held-to-maturity:
Municipal securities	$	18,608	$	480	$	(26	)	$	19,062
Residential mortgage-backed securities - government issued	4,789		148		—			4,937
Residential mortgage-backed securities - government-sponsored enterprises	4,416		163		—			4,579
Commercial mortgage-backed securities - government-sponsored enterprises	2,013		296		—			2,309
	$	29,826	$	1,087	$	(26	)	$	30,887



	As of December 31, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In Thousands)
Held-to-maturity:
Municipal securities	$	19,727	$	335	$	(8	)	$	20,054
Residential mortgage-backed securities - government issued	5,776		19		(9		)	5,786
Residential mortgage-backed securities - government-sponsored enterprises	5,183		51		(23		)	5,211
Commercial mortgage-backed securities - government-sponsored enterprises	2,014		123		—			2,137
	$	32,700	$	528	$	(40	)	$	33,188

U.S. government agency securities - government-sponsored enterprises represent securities issued by the Federal National Mortgage Association (“FNMA”) and the SBA. Municipal securities include securities issued by various municipalities located primarily within Wisconsin and are primarily general obligation bonds that are tax-exempt in nature. Residential and commercial mortgage-backed securities - government issued represent securities guaranteed by the Government National Mortgage Association. Residential and commercial mortgage-backed securities - government-sponsored enterprises include securities guaranteed by the Federal Home Loan Mortgage Corporation, FNMA, and the FHLB. Other securities represent certificates of deposit of insured banks and savings institutions with an original maturity greater than three months. There were no sales of available-for-sale securities that occurred during the three months ended June 30, 2020 and one sale that occurred during the six months ended June 30, 2020. There were nine sales of available-for-sale securities that occurred during the three and six months ended June 30, 2019.

At June 30, 2020 and December 31, 2019, securities with a fair value of $182.0 million and $30.3 million, respectively, were pledged to secure various obligations, including interest rate swap contracts, outstanding FHLB advances, additional FHLB availability, the Federal Reserve Discount Window, and municipal deposits. At June 30, 2020, pledged securities with a fair value of $106.9 million were unencumbered. No pledged securities were unencumbered as of December 31, 2019.

The amortized cost and fair value of securities by contractual maturity at June 30, 2020 are shown below. Actual maturities may differ from contractual maturities because issuers have the right to call or prepay certain obligations with or without call or prepayment penalties.



	Available-for-Sale				Held-to-Maturity
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
	(In Thousands)
Due in one year or less	$	1,000	$	1,003	$	2,556	$	2,578
Due in one year through five years	8,650		8,969		12,346		12,621
Due in five through ten years	35,048		36,655		11,283		11,904
Due in over ten years	121,927		125,053		3,641		3,784
	$	166,625	$	171,680	$	29,826	$	30,887

The tables below show the Corporation’s gross unrealized losses and fair value of available-for-sale investments aggregated by investment category and length of time that individual investments were in a continuous loss position at June 30, 2020 and December 31, 2019. At June 30, 2020, the Corporation held six available-for-sale securities that were in an unrealized loss position. Such securities have not experienced credit rating downgrades; however, they have generally declined in value due to the current interest rate environment. At June 30, 2020, the Corporation held zero available-for-sale securities that had been in a continuous unrealized loss position for twelve months or greater.

The Corporation also has not specifically identified available-for-sale securities in a loss position that it intends to sell in the near term and does not believe that it will be required to sell any such securities. The Corporation reviews its securities on a quarterly basis to monitor its exposure to other-than-temporary impairment. Consideration is given to such factors as the length of time and extent to which the security has been in an unrealized loss position, changes in security ratings, and an evaluation of the present value of expected future cash flows, if necessary. Based on the Corporation’s evaluation, it is expected that the Corporation will recover the entire amortized cost basis of each security. Accordingly, no other-than-temporary impairment was recorded in the unaudited Consolidated Statements of Income for the three and six months ended June 30, 2020 and 2019.



	As of June 30, 2020
	Less than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In Thousands)
Available-for-sale:
U.S. government agency securities - government-sponsored enterprises	$	16,403	$	68	$	—	$	—	$	16,403	$	68



	As of December 31, 2019
	Less than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In Thousands)
Available-for-sale:
U.S. government agency securities - government-sponsored enterprises	$	4,363	$	10	$	—	$	—	$	4,363	$	10
Residential mortgage-backed securities - government issued	4,619		5		—		—		4,619		5
Residential mortgage-backed securities - government-sponsored enterprises	36,972		253		11,304		153		48,276		406
Commercial mortgage-backed securities - government issued	—		—		4,727		87		4,727		87
Commercial mortgage-backed securities - government-sponsored enterprises	2,245		4		1,047		5		3,292		9
	$	48,199	$	272	$	17,078	$	245	$	65,277	$	517

The tables below show the Corporation’s gross unrealized losses and fair value of held-to-maturity investments, aggregated by investment category and length of time that individual investments were in a continuous loss position at June 30, 2020 and December 31, 2019. At June 30, 2020, the Corporation held two held-to-maturity securities that were in an unrealized loss position. Such securities have not experienced credit rating downgrades; however, they have generally declined in value due to the current interest rate environment. There were no held-to-maturity securities that had been in a continuous loss position for twelve months or greater as of June 30, 2020. It is expected that the Corporation will recover the entire amortized cost basis of each held-to-maturity security based upon an evaluation of aforementioned factors. Accordingly, no other-than-temporary impairment was recorded in the unaudited Consolidated Statements of Income for the three and six months ended June 30, 2020 and 2019.



	As of June 30, 2020
	Less than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In Thousands)
Held-to-maturity:
Municipal securities	$	479	$	26	$	—	$	—	$	479	$	26



	As of December 31, 2019
	Less than 12 Months				12 Months or Longer				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
	(In Thousands)
Held-to-maturity:
Municipal securities	$	499	$	8	$	—	$	—	$	499	$	8
Residential mortgage-backed securities - government issued	—		—		1,887		9		1,887		9
Residential mortgage-backed securities - government-sponsored enterprises	1,364		5		2,144		18		3,508		23
	$	1,863	$	13	$	4,031	$	27	$	5,894	$	40