The amortized cost, gross unrealized gains and losses, and fair value of securities available for sale were as follows:



	June 30, 2020
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In Thousands)
Available for Sale:
States and political subdivisions	$	56,025	$	1,881	$	—	$	57,906
Corporate obligations		3,057		36		—		3,093
Mortgage-backed securities-
government sponsored entities		132,654		3,084		(2)		135,736
Total debt securities	$	191,736	$	5,001	$	(2)	$	196,735



	December 31, 2019
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In Thousands)
Available for Sale:
States and political subdivisions	$	70,015	$	1,293	$	(3)	$	71,305
Corporate obligations		4,097		3		-		4,100
Mortgage-backed securities-government
sponsored entities		135,646		238		(1,084)		134,800
Total debt securities	$	209,758	$	1,534	$	(1,087)	$	210,205

The following tables show the Company’s investments’ gross unrealized losses and fair value aggregated by length of time that individual securities have been in a continuous unrealized loss position (in thousands):




	June 30, 2020
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Mortgage-backed securities-government sponsored entities	$	6,793	$	(2)	$	—	$	—	$	6,793	$	(2)
	$	6,793	$	(2)	$	—	$	—	$	6,793	$	(2)



	December 31, 2019
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
States and political subdivisions	$	1,296	$	(2)	$	481	$	(1)	$	1,777	$	(3)
Mortgage-backed securities-government sponsored entities		32,415		(241)		61,096		(843)		93,511		(1,084)
	$	33,711	$	(243)	$	61,577	$	(844)	$	95,288	$	(1,087)

At June 30, 2020, the Company had five debt securities in an unrealized loss position in the less than twelve months category and no debt securities in the twelve months or more category. In Management’s opinion the unrealized losses reflect changes in interest rates subsequent to the acquisition of specific securities. No other-than-temporary-impairment charges were recorded in 2020.

Management believes that all unrealized losses represent temporary impairment of the securities as the Company does not have the intent to sell the securities and it is more likely than not that it will not have to sell the securities before recovery of its cost basis.

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


	Available for Sale
	Amortized Cost		Fair Value
		(In Thousands)
Due in one year or less	$	5,218	$	5,260
Due after one year through five years		8,334		8,403
Due after five years through ten years		19,314		19,673
Due after ten years		26,216		27,663
		59,082		60,999
Mortgage-backed securities-government sponsored entities		132,654		135,736
	$	191,736	$	196,735

Gross realized gains and gross realized losses on sales of securities available for sale were as follows (in thousands):



	Three Months				Six Months
	Ended June 30,				Ended June 30,
	2020		2019		2020		2019
Gross realized gains	$	—	$	64	$	38	$	64
Gross realized losses		—		—		—		—
Net realized gain	$	—	$	64	$	38	$	64
Proceeds from sales of securities	$	—	$	3,299	$	8,224	$	3,626

Securities with a carrying value of $163,150,000 and $196,986,000 at June 30, 2020 and 2019, respectively, were pledged to secure public deposits, securities sold under agreements to repurchase and for other purposes as required or permitted by law.