The amortized cost and fair market value of available for sale securities and the related gross unrealized gains and losses recognized were as follows:

March 31, 2022	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. Treasury securities and obligations of U.S. government agencies	$	46,291	$	23	$	(2,662	)	$	43,652
Obligations of states and political subdivisions		311,494		5,736		(11,246	)		305,984
Mortgage-backed securities in government sponsored entities		213,462		623		(11,344	)		202,741
Total debt securities	$	571,247	$	6,382	$	(25,252	)	$	552,377

December 31, 2021	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. Treasury securities and obligations of U.S. government agencies	$	48,390	$	30	$	(530	)	$	47,890
Obligations of states and political subdivisions		281,247		17,696		(107	)		298,836
Mortgage-backed securities in government sponsored entities		211,660		2,938		(1,450	)		213,148
Total debt securities	$	541,297	$	20,664	$	(2,087	)	$	559,874

The amortized cost and fair value of securities at March 31, 2022, by contractual maturity, is shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately.

Available for sale	Amortized Cost		Fair Value
Due in one year or less	$	795	$	794
Due after one year through five years		34,667		33,381
Due after five years through ten years		65,215		63,177
Due after ten years		257,108		252,284
Mortgage-backed securities		213,462		202,741
Total securities available for sale	$	571,247	$	552,377

Proceeds from sales of securities available for sale, gross realized gains and gross realized losses were as follows:

	Three Months Ended
	March 31,
	2022		2021
Sale proceeds	$	—	$	—
Gross realized gains		—		—
Gross realized losses		—		—
Losses from securities called or settled by the issuer		—		(1	)

Securities were pledged to secure public deposits, other deposits and liabilities as required by law. The carrying value of pledged securities was approximately $180,772 and $168,435 as of March 31, 2022 and December 31, 2021, respectively.

Securities with unrealized losses at March 31, 2022 and December 31, 2021 not recognized in income are set forth in the tables below, segregated by securities with maturities of 12 months or less and securities with maturities of more than 12 months:

March 31, 2022	12 Months or less					More than 12 months					Total
Description of Securities	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
U.S. Treasury securities and obligations of U.S. government agencies	$	33,010	$	(2,064	)	$	9,936	$	(598	)	$	42,946	$	(2,662	)
Obligations of states and political subdivisions		146,815		(11,246	)		—		—			146,815		(11,246	)
Mortgage-backed securities in gov’t sponsored entities		156,426		(10,648	)		7,639		(696	)		164,065		(11,344	)
Total temporarily impaired	$	336,251	$	(23,958	)	$	17,575	$	(1,294	)	$	353,826	$	(25,252	)

December 31, 2021	12 Months or less					More than 12 months					Total
Description of Securities	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
U.S. Treasury securities and obligations of U.S. government agencies	$	41,432	$	(473	)	$	2,014	$	(57	)	$	43,446	$	(530	)
Obligations of states and political subdivisions		25,797		(107	)		—		—			25,797		(107	)
Mortgage-backed securities in gov’t sponsored entities		141,327		(1,343	)		3,123		(107	)		144,450		(1,450	)
Total temporarily impaired	$	208,556	$	(1,923	)	$	5,137	$	(164	)	$	213,693	$	(2,087	)

At March 31, 2022, there were a total of 235 securities in the portfolio with unrealized losses mainly due to higher current market rates when compared to the time of purchase. Unrealized losses on securities have not been recognized into income because the issuers’ securities are of high credit quality, management has the intent and ability to hold these securities for the foreseeable future, and the decline in fair value is largely due to currently higher market rates when compared to the time of purchase. The fair value is expected to recover as the securities approach their maturity date or reset date. The Company does not intend to sell until recovery and does not believe selling will be required before recovery.

The following table presents the net gains and losses on equity investments recognized in earnings for the three months ended March 31, 2022, and the portion of unrealized gains and losses for the period that relates to equity investments held at March 31, 2022 and 2021:

	Three Months Ended March 31,
	2022		2021
Net gains recognized on equity securities during the period	$	50	$	88
Less: Net losses realized on the sale of equity securities during the period		—		—
Unrealized gains recognized on equity securities held at reporting date	$	50	$	88