Investments

The following table summarizes the Company's available-for-sale fixed maturity and equity securities:



	At
	September 30, 2013
Description of Security	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Fixed maturity securities:
Obligations of the U.S. Treasury and U.S. Government agencies	$	49,610	$	238	$	(409	)	$	49,439
Municipal securities	23,033		96		(379		)	22,750
Corporate securities	51,183		138		(830		)	50,491
Mortgage-backed securities	79		1		—			80
Total fixed maturity securities	$	123,905	$	473	$	(1,618	)	$	122,760

Equity securities:
Common stock - publicly traded	$	39	$	5	$	—		$	44
Preferred stock - publicly traded	5,975		—		(711		)	5,264
Common stock - non-publicly traded	59		5		(13		)	51
Preferred stock - non-publicly traded	1,009		4		—			1,013
Total equity securities	$	7,082	$	14	$	(724	)	$	6,372



	At
	December 31, 2012
Description of Security	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Fixed maturity securities:
Obligations of the U.S. Treasury and U.S. Government agencies	$	22,424	$	761	$	(7	)	$	23,178
Municipal securities	16,636		413		(8		)	17,041
Corporate securities	67,627		2,461		(80		)	70,008
Mortgage-backed securities	285		4		—			289
Asset-backed securities	123		2		—			125
Total fixed maturity securities	$	107,095	$	3,641	$	(95	)	$	110,641

Equity securities:
Common stock - publicly traded	$	39	$	3	$	—		$	42
Preferred stock - publicly traded	4,975		133		(1		)	5,107
Common stock - non-publicly traded	59		4		(5		)	58
Preferred stock - non-publicly traded	1,009		4		—			1,013
Total equity securities	$	6,082	$	144	$	(6	)	$	6,220

Pursuant to certain reinsurance agreements and statutory licensing requirements, the Company has deposited invested assets in custody accounts or insurance department safekeeping accounts. The Company is not permitted to remove invested assets from these accounts without prior approval of the contractual party or regulatory authority, as applicable. The following table details the Company's restricted investments:



	At
	September 30, 2013		December 31, 2012
Fair value of restricted investments for special deposits required by state insurance departments	$	10,384	$	10,988
Fair value of restricted investments in trust pursuant to reinsurance agreements	6,289		6,954
Fair value of restricted investments	$	16,673	$	17,942

The amortized cost and fair value of fixed maturity securities by contractual maturity are shown below. Expected maturities will differ from contractual maturities because borrowers have the right to call or prepay obligations with or without call or prepayment penalties.



	At
	September 30, 2013				December 31, 2012
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	18,439	$	18,448	$	5,557	$	5,608
Due after one year through five years	59,966		59,885		58,378		60,323
Due after five years through ten years	22,028		21,282		24,983		25,900
Due after ten years	23,393		23,065		17,769		18,396
Mortgage-backed securities	79		80		285		289
Asset-backed securities	—		—		123		125
Total fixed maturity securities	$	123,905	$	122,760	$	107,095	$	110,641

The following table provides information on unrealized losses on investment securities that have been in an unrealized loss position for less than twelve months, and twelve months or greater:



	At
	September 30, 2013
	Less than Twelve Months						Twelve Months or Greater						Total
Description of Security	Fair Value		Unrealized Losses			# of Securities	Fair Value		Unrealized Losses			# of Securities	Fair Value		Unrealized Losses			# of Securities
Fixed maturity securities:
Obligations of the U.S. Treasury and U.S. Government agencies	$	29,025	$	(402	)	41	$	465	$	(7	)	6	$	29,490	$	(409	)	47
Municipal securities	9,294		(379		)	15	—		—			—	9,294		(379		)	15
Corporate securities	33,403		(791		)	38	681		(39		)	2	34,084		(830		)	40
Total fixed maturity securities	$	71,722	$	(1,572	)	94	$	1,146	$	(46	)	8	$	72,868	$	(1,618	)	102

Equity securities:
Preferred stock - publicly traded	$	5,263	$	(711	)	9	$	—	$	—		—	$	5,263	$	(711	)	9
Common stock - non-publicly traded	—		—			—	31		(13		)	2	31		(13		)	2
Total equity securities	$	5,263	$	(711	)	9	$	31	$	(13	)	2	$	5,294	$	(724	)	11



	At
	December 31, 2012
	Less than Twelve Months						Twelve Months or Greater						Total
Description of Security	Fair Value		Unrealized Losses			# of Securities	Fair Value		Unrealized Losses			# of Securities	Fair Value		Unrealized Losses			# of Securities
Fixed maturity securities:
Obligations of the U.S. Treasury and U.S. Government agencies	$	857	$	(7	)	11	$	—	$	—		—	$	857	$	(7	)	11
Municipal securities	734		(8		)	1	—		—			—	734		(8		)	1
Corporate securities	12,625		(63		)	16	183		(17		)	1	12,808		(80		)	17
Total fixed maturity securities	$	14,216	$	(78	)	28	$	183	$	(17	)	1	$	14,399	$	(95	)	29

Equity securities:
Preferred stock - publicly traded	$	198	$	(1	)	1	$	—	$	—		—	$	198	$	(1	)	1
Common stock - non-publicly traded	—		—			—	39		(5		)	2	39		(5		)	2
Total equity securities	$	198	$	(1	)	1	$	39	$	(5	)	2	$	237	$	(6	)	3

The Company does not intend to sell the investments that are in an unrealized loss position at September 30, 2013 and it is more likely than not that the Company will be able to hold these securities until full recovery of their amortized cost basis for fixed maturity securities or cost for equity securities. As of September 30, 2013, based on the Company's review, none of the fixed maturity or equity securities were deemed to be other-than-temporarily impaired based on the Company's analysis of the securities and intent to hold the securities until recovery.

The following table summarizes the gross proceeds from the sale of available-for-sale investment securities:



	For the Three Months Ended				For the Nine Months Ended
	September 30, 2013		September 30, 2012		September 30, 2013	September 30, 2012
Gross proceeds from sales	$	27,139	$	503	54,663	$	4,980

The following table summarizes the gross realized gains and gross realized losses for both fixed maturity and equity securities and any realized losses for other-than-temporary impairments for available-for-sale investment securities:



	For the Three Months Ended					For the Nine Months Ended
	September 30, 2013		September 30, 2012			September 30, 2013			September 30, 2012
Gross realized gains	$	756	$	—		$	2,118		$	22
Gross realized losses	—		—			(75		)	(12		)
Total net gains from investment sales	756		—			2,043			10
Impairment write-downs (other-than-temporary impairments)	—		(16		)	—			(16		)
Net realized investment gains	$	756	$	(16	)	$	2,043		$	(6	)

The following schedule details the components of net investment income:



	For the Three Months Ended						For the Nine Months Ended
	September 30, 2013			September 30, 2012			September 30, 2013			September 30, 2012
Fixed income securities	$	670		$	628		$	2,094		$	1,954
Cash on hand and on deposit	11			47			47			143
Common and preferred stock dividends	98			77			275			191
Notes receivable	99			75			239			201
Other income	3			34			117			104
Investment expenses	(109		)	(117		)	(339		)	(374		)
Net investment income	$	772		$	744		$	2,433		$	2,219