Investments

The following tables summarize the Company’s available-for-sale investment securities, gross unrealized gains and losses and fair value, aggregated by investment category (in thousands):



	March 30, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. Treasury and government debt securities	$	2,682	$	11	$	(6	)	$	2,687
Residential mortgage-backed securities	5,226		21		(108		)	5,139
State and political subdivision debt securities	1,681		32		—			1,713
Corporate debt securities	2,788		48		—			2,836
Marketable equity securities	4,782		609		(68		)	5,323
	$	17,159	$	721	$	(182	)	$	17,698



	March 31, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. Treasury and government debt securities	$	1,371	$	11	$	(1	)	$	1,381
Residential mortgage-backed securities	3,946		17		(48		)	3,915
State and political subdivision debt securities	1,186		26		—			1,212
Corporate debt securities	3,640		37		(1		)	3,676
Marketable equity securities	3,883		218		(83		)	4,018
	$	14,026	$	309	$	(133	)	$	14,202

The following tables show the gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands):



	March 30, 2013
	Less than 12 Months					12 Months or Longer					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
U.S. Treasury and government debt securities	$	1,084	$	(6	)	$	—	$	—		$	1,084	$	(6	)
Residential mortgage-backed securities	1,460		(108		)	—		—			1,460		(108		)
Marketable equity securities	413		(13		)	304		(55		)	717		(68		)
	$	2,957	$	(127	)	$	304	$	(55	)	$	3,261	$	(182	)



	March 31, 2012
	Less than 12 Months					12 Months or Longer				Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. Treasury and government debt securities	$	249	$	(1	)	$	—	$	—	$	249	$	(1	)
Residential mortgage-backed securities	2,509		(48		)	—		—		2,509		(48		)
Corporate debt securities	384		(1		)	—		—		384		(1		)
Marketable equity securities	1,194		(83		)	—		—		1,194		(83		)
	$	4,336	$	(133	)	$	—	$	—	$	4,336	$	(133	)

Based on the Company’s ability and intent to hold the investments for a reasonable period of time sufficient for a forecasted recovery of fair value, the Company does not consider any investments to be other-than-temporarily impaired at March 30, 2013.

As of March 30, 2013, the Company’s investments in marketable equity securities consist of investments in common stock of industrial and other companies ($3.7 million of the total fair value and $51,000 of the total unrealized losses) and bank trust, insurance, and public utility companies ($1.6 million of the total fair value and $17,000 of the total unrealized losses).

As of March 31, 2012, the Company’s investments in marketable equity securities consisted of investments in common stock of industrial and other companies ($2.5 million of the total fair value and $72,000 of the total unrealized losses) and bank trust, insurance, and public utility companies ($1.5 million of the total fair value and $11,000 of the total unrealized losses).

The amortized cost and fair value of the Company’s investments in debt securities, by contractual maturity, are shown in the table 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.



	March 30, 2013				March 31, 2012
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in less than one year	$	1,600	$	1,607	$	1,355	$	1,359
Due after one year through five years	4,786		4,880		5,498		5,573
Due after five years through ten years	924		893		260		270
Due after ten years	5,067		4,995		3,030		2,982
	$	12,377	$	12,375	$	10,143	$	10,184

Realized gains and losses from the sale of securities are determined using the specific identification method. Gross gains realized on the sales of investment securities for fiscal years 2013 and 2012 were approximately $216,000 and $84,000, respectively. Gross losses realized were approximately $66,000 and $77,000 for fiscal years 2013 and 2012, respectively.