3.	Investments

As noted in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015, all of the Company’s municipal bond investments are classified as held-to-maturity securities and reported at amortized cost pursuant to Accounting Standards Codification 320, Investments – Debt and Equity Securities as the Company has the intent and ability to hold all bond investments to maturity.

Below is a summary of the amortized cost and estimated market values of the Company’s investment securities as of June 30, 2016, and December 31, 2015.

	June 30, 2016				December 31, 2015
	Amortized		Market		Amortized		Market
	Cost		Value		Cost		Value
	(Dollars in thousands)
Municipal bonds:
Current	$	3,281	$	3,300	$	4,522	$	4,546
Due from one through five years		13,726		14,466		12,395		13,057
Due from six through ten years		6,966		7,468		6,929		7,217
Due from eleven through twenty years		770		807		1,361		1,391
Total	$	24,743	$	26,041	$	25,207	$	26,211

The unrealized gains and losses on investment securities at June 30, 2016, and at December 31, 2015, were as follows:

	June 30, 2016				December 31, 2015
	Unrealized		Unrealized		Unrealized		Unrealized
	Gains		Losses		Gains		Losses
	(Dollars in thousands)
Municipal bonds	$	1,309	$	(11)	$	1,014	$	(10)

The estimated market values provided are level 2 valuations as defined by Accounting Standards Codification 820, Fair Value Measurements and Disclosures (“ASC 820”). The Company reviewed its portfolio of investments as of June 30, 2016, and determined that no other-than-temporary market value impairment exists.