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


	December 31, 2020
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In Thousands)
AVAILABLE FOR SALE:
U.S. Government agencies	$	3,998	$	—	$	(29)	$	3,969
States and political subdivisions		70,672		2,419		—		73,091
Corporate obligations		3,019		13		—		3,032
Mortgage-backed securities-
government sponsored entities		143,712		2,809		(27)		146,494
Total debt securities	$	221,401	$	5,241	$	(56)	$	226,586


	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 security type and length of time that individual securities have been in a continuous unrealized loss position (in thousands):


	December 31, 2020
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. Government agencies	$	3,969		(29)		—		—		3,969		(29)
Mortgage-backed securities-government sponsored entities	$	4,980	$	(27)	$	—	$	—	$	4,980	$	(27)
	$	8,949	$	(56)	$	—	$	—	$	8,949	$	(56)


	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)

The Company has six debt securities in the less than twelve month category and no debt securities in the twelve months or more category as of December 31, 2020. In management’s opinion, the unrealized losses on securities 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 other unrealized losses represent temporary impairment of the securities, and it is more likely than not that it will not have to sell the securities before recovery of their cost basis.

The amortized cost and fair value of debt securities as of December 31, 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.


	Amortized		Fair
	Cost		Value
		(In Thousands)
Due in one year or less	$	5,498	$	5,532
Due after one year through five years		5,373		5,510
Due after five years through ten years		23,276		23,676
Due after ten years		43,542		45,374
		77,689		80,092

Mortgage-backed securities - government sponsored entities		143,712		146,494
	$	221,401	$	226,586

Gross realized gains and gross realized losses on sales of securities available for sale were $71,000 and $0, respectively, in 2020, compared to $254,000 and $0, respectively, in 2019. The proceeds from the sales of securities totaled $24,497,000 and $27,247,000 for the years ended December 31, 2020 and 2019, respectively.

Securities with a carrying value of $199,361,000 and $157,233,000 at December 31, 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.