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



	June 30, 2022
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In Thousands)
Available for Sale:
U.S. Treasury securities	$	33,273	$	14	$	(1,987)	$	31,300
U.S. Government agencies		18,302		-		(2,066)		16,236
States and political subdivisions		163,642		97		(23,471)		140,268
Mortgage-backed securities-
government sponsored entities		278,100		—		(25,027)		253,073
Total debt securities	$	493,317	$	111	$	(52,551)	$	440,877



	December 31, 2021
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value
	(In Thousands)
Available for Sale:
U.S. Government agencies	$	19,550	$	6	$	(205)	$	19,351
States and political subdivisions		16,251		24		(264)		16,011
Corporate obligations		145,107		2,155		(1,395)		145,867
Mortgage-backed securities-government
sponsored entities		227,712		766		(2,925)		225,553
Total debt securities	$	408,620	$	2,951	$	(4,789)	$	406,782

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, 2022
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. Treasury securities	$	27,432	$	(1,987)	$	-	$	-	$	27,432	$	(1,987)
U.S. Government agencies		14,015		(1,600)		2,221		(466)		16,236		(2,066)
States and political subdivisions		118,022		(20,704)		10,246		(2,767)		128,268		(23,471)
Mortgage-backed securities-government sponsored entities		205,855		(17,585)		47,205		(7,442)		253,060		(25,027)
	$	365,324	$	(41,876)	$	59,672	$	(10,675)	$	424,996	$	(52,551)



	December 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. Treasury securities	$	18,361	$	(205)	$	-	$	-	$	18,361	$	(205)
U.S. Government agencies		7,912		(109)		3,843		(155)		11,755		(264)
States and political subdivisions		74,658		(1,395)		-		-		74,658		(1,395)
Mortgage-backed securities-government sponsored entities		170,647		(2,856)		2,919		(69)		173,566		(2,925)
	$	271,578	$	(4,565)	$	6,762	$	(224)	$	278,340	$	(4,789)

At June 30, 2022, the Company had 292 debt securities in an unrealized loss position in the less than twelve months category and 33 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 2022. 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, 2022 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	$	1,836	$	1,848
Due after one year through five years		28,426		27,986
Due after five years through ten years		60,282		53,167
Due after ten years		124,673		104,803
		215,217		187,804
Mortgage-backed securities-government sponsored entities		278,100		253,073
	$	493,317	$	440,877

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,
	2022		2021		2022		2021
Gross realized gains	$	—	$	—	$	—	$	21
Gross realized losses		—		—		—		—
Net realized gain	$	—	$	—	$	—	$	21
Proceeds from sales of securities	$	—	$	—	$	—	$	1,127

Securities with a carrying value of $378,696,000 and $339,769,000 at June 30, 2022 and December 31, 2021, respectively, were pledged to secure public deposits, securities sold under agreements to repurchase and for other purposes as required or permitted by law.