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



	March 31, 2021
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In Thousands)
Available for Sale:
U.S. Government agencies	$	3,998	$	—	$	(196)	$	3,802
States and political subdivisions		96,126		1,910		(1,275)		96,761
Corporate obligations		3,000		—		—		3,000
Mortgage-backed securities-
government sponsored entities		170,837		2,193		(1,369)		171,661
Total debt securities	$	273,961	$	4,103	$	(2,840)	$	275,224



	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

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):




	March 31, 2021
	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	$	3,802	$	(196)	$	-	$	-	$	3,802	$	(196)
States and political subdivisions		36,046		(1,275)		-		-		36,046		(1,275)
Mortgage-backed securities-government sponsored entities		72,241		(1,369)		-		-		72,241		(1,369)
	$	112,089	$	(2,840)	$	-	$	-	$	112,089	$	(2,840)



	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)

At March 31, 2021, the Company had 53 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 2021.

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 March 31, 2021 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	$	4,948	$	4,961
Due after one year through five years		9,093		9,393
Due after five years through ten years		18,288		18,137
Due after ten years		70,795		71,072
		103,124		103,563
Mortgage-backed securities-government sponsored entities		170,837		171,661
	$	273,961	$	275,224

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



	Three Months
	Ended March 31,
	2021		2020
Gross realized gains	$	21	$	38
Gross realized losses		—		—
Net realized gain	$	21	$	38
Proceeds from sales of securities	$	1,127	$	8,224

Securities with a carrying value of $259,532,000 and $199,361,000 at March 31, 2021 and December 31, 2020, respectively, were pledged to secure public deposits, securities sold under agreements to repurchase and for other purposes as required or permitted by law.