Investments

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



	At December 31, 2013
Description of Security	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Obligations of the U.S. Treasury and U.S. Government agencies	$	51,971	$	142	$	(678	)	$	51,435
Municipal securities	24,856		104		(413		)	24,547
Corporate securities	56,050		210		(900		)	55,360
Obligations of foreign governments	411		—		(2		)	409
Total fixed maturity securities	$	133,288	$	456	$	(1,993	)	$	131,751

Common stock - publicly traded	$	39	$	8	$	—		$	47
Preferred stock - publicly traded	5,974		—		(887		)	5,087
Common stock - non-publicly traded	59		5		(13		)	51
Preferred stock - non-publicly traded	1,009		4		—			1,013
Total equity securities	$	7,081	$	17	$	(900	)	$	6,198



	At December 31, 2012
Description of Security	Cost or Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
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

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 included in the Company's available-for-sale fixed maturity securities:



	At December 31,
	2013		2012
Fair value of restricted investments for special deposits required by state insurance departments	$	10,339	$	10,988
Fair value of restricted investments in trust pursuant to reinsurance agreements	6,134		6,954
Fair value of restricted investments	$	16,473	$	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 December 31, 2013				At December 31, 2012
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	18,766	$	18,771	$	5,557	$	5,608
Due after one year through five years	69,380		69,355		58,378		60,323
Due after five years through ten years	22,622		21,731		24,983		25,900
Due after ten years	22,520		21,894		17,769		18,396
Mortgage-backed securities	—		—		285		289
Asset-backed securities	—		—		123		125
Total fixed maturity securities	$	133,288	$	131,751	$	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 December 31, 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
Obligations of the U.S. Treasury and U.S. Government agencies	$	37,385	$	672	67	$	234	$	6	7	$	37,619	$	678	74
Municipal securities	10,080		413		23	—		—		—	10,080		413		23
Corporate securities	27,866		734		55	7,676		166		8	35,542		900		63
Obligations of foreign governments	409		2		1	—		—		—	409		2		1
Total fixed maturity securities	$	75,740	$	1,821	146	$	7,910	$	172	15	$	83,650	$	1,993	161

Preferred stock - publicly traded	5,087		887		9	—		—		—	5,087		887		9
Common stock - non-publicly traded	—		—		—	31		13		2	31		13		2
Total equity securities	$	5,087	$	887	9	$	31	$	13	2	$	5,118	$	900	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
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

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 December 31, 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 December 31, 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 its intent to hold the securities until recovery. At December 31, 2012, based on management's review, the Company deemed that one individual equity security was other than temporarily impaired and recorded an impairment charge of $16.0 thousand for the year ended December 31, 2012.

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



	For the Years Ended December 31,
	2013		2012		2011
Gross proceeds from sales	$	54,663	$	8,364	$	62,300

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



	For the Years Ended December 31,
	2013			2012			2011
Gross realized gains	$	2,118		$	33		$	4,456
Gross realized losses	(75		)	(14		)	(91		)
Total net gains from investment sales	2,043			19			4,365
Impairment write-downs (other-than-temporary impairments)	—			(16		)	(172		)
Net realized investment gains	$	2,043		$	3		$	4,193



The following table details the components of net investment income:	For the Years Ended December 31,
	2013			2012			2011
Fixed income securities	$	2,635		$	2,669		$	3,188
Cash on hand and on deposit	30			193			333
Common and preferred stock dividends	373			275			59
Notes receivable	321			267			155
Other income	119			138			141
Investment expenses	(428		)	(475		)	(508		)
Net investment income	$	3,050		$	3,067		$	3,368