

	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value (Estimated)
Securities available for sale
U.S. Government-sponsored agencies	$	5,000,000	$	16,000	$	—		$	5,016,000
Mortgage-backed securities	317,269,000		1,394,000		(3,240,000		)	315,423,000
State and political subdivisions	4,955,000		4,000		(122,000		)	4,837,000
	$	327,224,000	$	1,414,000	$	(3,362,000	)	$	325,276,000
Securities to be held to maturity
U.S. Government-sponsored agencies	$	31,155,000	$	48,000	$	(280,000	)	$	30,923,000
Mortgage-backed securities	17,560,000		372,000		(146,000		)	17,786,000
State and political subdivisions	225,204,000		3,162,000		(1,801,000		)	226,565,000
Corporate securities	7,300,000		—		(6,000		)	7,294,000
	$	281,219,000	$	3,582,000	$	(2,233,000	)	$	282,568,000
Restricted equity securities
Federal Home Loan Bank Stock	$	7,945,000	$	—	$	—		$	7,945,000
Federal Reserve Bank Stock	1,037,000		—		—			1,037,000
	$	8,982,000	$	—	$	—		$	8,982,000



	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value (Estimated)
Securities available for sale
U.S. Government-sponsored agencies	$	5,000,000	$	7,000	$	—		$	5,007,000
Mortgage-backed securities	313,854,000		571,000		(6,732,000		)	307,693,000
State and political subdivisions	4,955,000		—		(239,000		)	4,716,000
	$	323,809,000	$	578,000	$	(6,971,000	)	$	317,416,000
Securities to be held to maturity
U.S. Government-sponsored agencies	$	11,155,000	$	—	$	(472,000	)	$	10,683,000
Mortgage-backed securities	18,250,000		336,000		(255,000		)	18,331,000
State and political subdivisions	221,958,000		1,046,000		(5,418,000		)	217,586,000
Corporate securities	4,300,000		—		—			4,300,000
	$	255,663,000	$	1,382,000	$	(6,145,000	)	$	250,900,000
Restricted equity securities
Federal Home Loan Bank Stock	$	10,549,000	$	—	$	—		$	10,549,000
Federal Reserve Bank Stock	1,037,000		—		—			1,037,000
	$	11,586,000	$	—	$	—		$	11,586,000



	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value (Estimated)
Securities available for sale
Mortgage-backed securities	$	302,935,000	$	191,000	$	(7,798,000	)	$	295,328,000
State and political subdivisions	5,765,000		3,000		(257,000		)	5,511,000
	$	308,700,000	$	194,000	$	(8,055,000	)	$	300,839,000
Securities to be held to maturity
U.S. Government-sponsored agencies	$	11,155,000	$	—	$	(515,000	)	$	10,640,000
Mortgage-backed securities	21,990,000		469,000		(289,000		)	22,170,000
State and political subdivisions	221,245,000		1,497,000		(4,001,000		)	218,741,000
Corporate securities	4,300,000		—		—			4,300,000
	$	258,690,000	$	1,966,000	$	(4,805,000	)	$	255,851,000
Restricted equity securities
Federal Home Loan Bank Stock	$	10,910,000	$	—	$	—		$	10,910,000
Federal Reserve Bank Stock	1,037,000		—		—			1,037,000
	$	11,947,000	$	—	$	—		$	11,947,000



	Securities available for sale				Securities to be held to maturity
	Amortized Cost		Fair Value (Estimated)		Amortized Cost		Fair Value (Estimated)
Due in 1 year or less	$	—	$	—	$	1,429,000	$	1,431,000
Due in 1 to 5 years	15,670,000		15,736,000		21,096,000		21,203,000
Due in 5 to 10 years	107,978,000		108,698,000		176,967,000		178,044,000
Due after 10 years	203,576,000		200,842,000		81,727,000		81,890,000
	$	327,224,000	$	325,276,000	$	281,219,000	$	282,568,000



	Securities available for sale				Securities to be held to maturity
	Amortized Cost		Fair Value (Estimated)		Amortized Cost		Fair Value (Estimated)
Due in 1 year or less	$	—	$	—	$	1,432,000	$	1,433,000
Due in 1 to 5 years	13,501,000		13,518,000		20,717,000		20,778,000
Due in 5 to 10 years	83,954,000		83,326,000		157,544,000		155,313,000
Due after 10 years	226,354,000		220,572,000		75,970,000		73,376,000
	$	323,809,000	$	317,416,000	$	255,663,000	$	250,900,000



	Securities available for sale				Securities to be held to maturity
	Amortized Cost		Fair Value (Estimated)		Amortized Cost		Fair Value (Estimated)
Due in 1 year or less	$	61,000	$	61,000	$	634,000	$	635,000
Due in 1 to 5 years	6,502,000		6,492,000		25,692,000		25,796,000
Due in 5 to 10 years	66,434,000		65,234,000		145,297,000		144,211,000
Due after 10 years	235,703,000		229,052,000		87,067,000		85,209,000
	$	308,700,000	$	300,839,000	$	258,690,000	$	255,851,000

At March 31, 2019, securities with a fair value of $189,711,000 were pledged to secure public deposits, repurchase agreements, and for other purposes as required by law. This compares to securities with a fair value of $222,829,000 as of December 31, 2018 and $197,349,000 at March 31, 2018, pledged for the same purposes.

Gains and losses on the sale of securities available for sale are computed by subtracting the amortized cost at the time of sale from the security's selling price, net of accrued interest to be received. The following table shows securities gains and losses for the three months ended March 31, 2019 and 2018:



	For the three months ended March 31,
	2019		2018
Proceeds from sales of securities	$	—	$	459,000
Gross realized gains	—		136,000
Gross realized losses	—		—
Net gain	$	—	$	136,000
Related income taxes	$	—	$	29,000

Management reviews securities with unrealized losses for other than temporary impairment. As of March 31, 2019, there were 291 securities with unrealized losses held in the Company's portfolio. These securities were temporarily impaired as a result of changes in interest rates reducing their fair value, of which 274 had been temporarily impaired for 12 months or more.

In the first quarter, one issuer of securities held in the portfolio was downgraded by a rating agency to less than investment grade. These securities total approximately 0.4% of overall state and municipal security holdings and are being monitored. The Company also has the ability and intent to hold its impaired securities until a recovery of their amortized cost, which may be at maturity.



	Less than 12 months					12 months or more					Total
	Fair Value (Estimated)		Unrealized Losses			Fair Value (Estimated)		Unrealized Losses			Fair Value (Estimated)		Unrealized Losses
U.S. Government-sponsored agencies	$	—	$	—		$	10,875,000	$	(280,000	)	$	10,875,000	$	(280,000	)
Mortgage-backed securities	24,525,000		(138,000		)	198,272,000		(3,248,000		)	222,797,000		(3,386,000		)
State and political subdivisions	1,264,000		(3,000		)	58,168,000		(1,920,000		)	59,432,000		(1,923,000		)
Corporate securities	2,994,000		(6,000		)	—		—			2,994,000		(6,000		)
	$	28,783,000	$	(147,000	)	$	267,315,000	$	(5,448,000	)	$	296,098,000	$	(5,595,000	)

As of December 31, 2018, there were 511 securities with unrealized losses held in the Company's portfolio. These securities were temporarily impaired as a result of changes in interest rates reducing their fair value, of which 232 had been temporarily impaired for 12 months or more. Information regarding securities temporarily impaired as of December 31, 2018 is summarized below:



	Less than 12 months					12 months or more					Total
	Fair Value (Estimated)		Unrealized Losses			Fair Value (Estimated)		Unrealized Losses			Fair Value (Estimated)		Unrealized Losses
U.S. Government-sponsored agencies	$	—	$	—		$	10,683,000	$	(472,000	)	$	10,683,000	$	(472,000	)
Mortgage-backed securities	76,050,000		(1,061,000		)	185,136,000		(5,926,000		)	261,186,000		(6,987,000		)
State and political subdivisions	76,809,000		(1,784,000		)	45,052,000		(3,873,000		)	121,861,000		(5,657,000		)
	$	152,859,000	$	(2,845,000	)	$	240,871,000	$	(10,271,000	)	$	393,730,000	$	(13,116,000	)

As of March 31, 2018, there were 457 securities with unrealized losses held in the Company's portfolio. These securities were temporarily impaired as a result of changes in interest rates reducing their fair value, of which 159 had been temporarily impaired for 12 months or more. Information regarding securities temporarily impaired as of March 31, 2018 is summarized below:



	Less than 12 months					12 months or more					Total
	Fair Value (Estimated)		Unrealized Losses			Fair Value (Estimated)		Unrealized Losses			Fair Value (Estimated)		Unrealized Losses
U.S. Government-sponsored agencies	$	6,946,000	$	(309,000	)	$	3,694,000	$	(206,000	)	$	10,640,000	$	(515,000	)
Mortgage-backed securities	183,335,000		(4,332,000		)	101,012,000		(3,755,000		)	284,347,000		(8,087,000		)
State and political subdivisions	64,594,000		(1,533,000		)	37,182,000		(2,725,000		)	101,776,000		(4,258,000		)
	$	254,875,000	$	(6,174,000	)	$	141,888,000	$	(6,686,000	)	$	396,763,000	$	(12,860,000	)

During the third quarter of 2014, the Company transferred securities with a total amortized cost of $89,780,000 with a corresponding fair value of $89,757,000 from available for sale to held to maturity. The net unrealized loss, net of taxes, on these securities at the date of the transfer was $15,000. The net unrealized holding loss at the time of transfer continues to be reported in accumulated other comprehensive income (loss), net of tax and is amortized over the remaining lives of the

securities as an adjustment of the yield. The amortization of the net unrealized loss reported in accumulated other comprehensive income (loss) will offset the effect on interest income of the discount for the transferred securities. The

remaining unamortized balance of the net unrealized losses for the securities transferred from available for sale to held to maturity was $194,000 at March 31, 2019. These securities were transferred as a part of the Company's overall investment and balance sheet strategies.