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):



	June 29, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. Treasury and government debt securities	$	2,338	$	8	$	(59	)	$	2,287
Residential mortgage-backed securities	4,566		13		(231		)	4,348
State and political subdivision debt securities	1,673		14		(14		)	1,673
Corporate debt securities	2,569		36		—			2,605
Marketable equity securities	5,094		632		(77		)	5,649
Equity method investment	1,000		—		—			1,000
	$	17,240	$	703	$	(381	)	$	17,562



	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

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):



	June 29, 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	$	1,194	$	(59	)	$	—	$	—		$	1,194	$	(59	)
Residential mortgage-backed securities	3,167		(199		)	612		(32		)	3,779		(231		)
States and political subdivisions	242		(14		)	—		—			242		(14		)
Marketable equity securities	734		(32		)	304		(45		)	1,038		(77		)
	$	5,337	$	(304	)	$	916	$	(77	)	$	6,253	$	(381	)



	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	)

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 June 29, 2013.

As of June 29, 2013, the Company’s investments in marketable equity securities consist of investments in common stock of industrial and other companies ($4.1 million of the total fair value and $68,000 of the total unrealized losses) and bank trust, insurance, and public utility companies ($1.5 million of the total fair value and $9,000 of the total unrealized losses).

As of March 30, 2013, the Company’s investments in marketable equity securities consisted 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).

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.



	June 29, 2013				March 30, 2013
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in less than one year	$	2,283	$	2,294	$	1,600	$	1,607
Due after one year through five years	4,116		4,159		4,786		4,880
Due after five years through ten years	822		773		924		893
Due after ten years	3,925		3,687		5,067		4,995
	$	11,146	$	10,913	$	12,377	$	12,375

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 the three months ended June 29, 2013 were approximately $68,000. Gross losses realized were approximately $36,000 for the three months ended June 29, 2013.