The amortized cost and fair value of securities available-for-sale at December 31, 2019 and 2018 are summarized as follow (in thousands):


	December 31, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. Government-sponsored enterprises (GSEs)	$	19,015	$	41	$	(56)	$	19,000
Municipal securities	63,792		618		(19)		64,391
Other debt securities	3,481		22		(33)		3,470
Mortgage-backed securities (GSEs)	91,531		382		(426)		91,487
Total	$	177,819	$	1,063	$	(534)	$	178,348


	December 31, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
U.S. Government-sponsored enterprises (GSEs)	$	44,117	$	12	$	(626)	$	43,503
Municipal securities	55,248		276		(363)		55,161
Other debt securities	977		—		(67)		910
Mortgage-backed securities (GSEs)	103,875		153		(1,914)		102,114
Total	$	204,217	$	441	$	(2,970)	$	201,688

The amortized cost and estimated market value of securities at December 31, 2019, by contractual maturity, are shown below (in thousands). Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.


	Amortized Cost		Fair Value
Due in one year or less	$	3,292	$	3,290
Due from one year to five years	11,015		10,962
Due from five years to ten years	12,514		12,569
Due after ten years	59,467		60,040
	86,288		86,861
Mortgage-backed securities	91,531		91,487
Total	$	177,819	$	178,348

The following tables present the gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities available-for-sale have been in a continuous unrealized loss position, as of December 31, 2019 and 2018 (in thousands):


	As of December 31, 2019
	Less than 12 Months						12 Months or Greater						Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
U.S. Government- sponsored enterprises (GSEs)	$	2,972	$	(43)	$	5,987	$	(13)	$	8,959	$	(56)
Municipal securities	3,656		(16)		527		(3)		4,183		(19)
Other debt securities	—		—		947		(33)		947		(33)
Mortgage-backed securities (GSEs)	13,208		(194)		19,988		(232)		33,196		(426)
Total	$	19,836	$	(253)	$	27,449	$	(281)	$	47,285	$	(534)


	As of December 31, 2018
	Less than 12 Months						12 Months or Greater						Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
U.S. Government- sponsored enterprises (GSEs)	$	14,763	$	(237)	$	13,728	$	(389)	$	28,491	$	(626)
Municipal securities	16,455		(150)		4,767		(213)		21,222		(363)
Other debt securities	—		—		910		(67)		910		(67)
Mortgage-backed securities (GSEs)	10,516		(155)		69,884		(1,759)		80,400		(1,914)
Total	$	41,734	$	(542)	$	89,289	$	(2,428)	$	131,023	$	(2,970)

At December 31, 2019, the categories of temporarily impaired securities in an unrealized loss position twelve months or greater are as follows (dollars in thousands):


	Gross Unrealized Loss		Number of Securities
U.S. Government- sponsored enterprises (GSEs)	$	(13)	2
Municipal securities	(3)		1
Other debt securities	(33)		1
Mortgage-backed securities (GSEs)	(232)		31
	$	(281)	35

The Company reviews the securities portfolio on a quarterly basis to monitor its exposure to other-than-temporary impairment. A determination as to whether a security's decline in fair value is other-than-temporary takes into consideration numerous factors and the relative significance of any single factor can vary by security. Some factors the Company may consider in the other-than-temporary impairment analysis include the length of time and extent to which the security has been in an unrealized loss position, changes in security ratings, financial condition and near-term prospects of the issuer, as well as security and industry specific economic conditions.

Based on this evaluation, the Company concluded that any unrealized losses at December 31, 2019 represented a temporary impairment, as these unrealized losses are primarily attributable to changes in interest rates and current market conditions, and not credit deterioration of the issuers. As of December 31, 2019, the Company does not intend to sell any of the securities, does not expect to be required to sell any of the securities, and expects to recover the entire amortized cost of all of the securities.

Sales and redemption of available-for-sale securities for the years ended December 31, 2019 and 2018, were as follows (in thousands):

Securities with a carrying value of $92.3 million and $103.7 million at December 31, 2019 and 2018, respectively, were pledged to secure various deposits, securities sold under agreements to repurchase, as collateral for federal funds purchased from other financial institutions and serve as collateral for borrowings at the Federal Home Loan Bank.

Our other investments consist of Restricted non-marketable equity securities that have no readily determinable market value. Accordingly, when evaluating these securities for impairment, management considers the ultimate recoverability of the par value rather than recognizing temporary declines in value. As of December 31, 2019, the Company determined that there was no impairment on its other investment securities.


	As of December 31,
	2019		2018
Federal Reserve Bank stock	$	7,917	7,010
Federal Home Loan Bank stock	4,646		4,139
First National Bankers Bank stock	350		350
	$	12,913	$	11,499