3.Securities Available for Sale and Securities Held to Maturity

The amortized cost, gross unrealized gains and losses, and fair value of securities available for sale and securities held to maturity are as follows:


			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
March 31, 2015	Cost		Gains		Losses		Value
Securities available for sale:
U.S. agency mortgage-backed securities	$	20,260	$	277	$	6	$	20,531
Asset-backed securities		20,459		69		24		20,504
Corporate debt securities		9,370		46		3		9,413
U.S. agency notes		5,233		2		13		5,222
Treasury securities		3,567		14		-		3,581
Certificates of deposit		1,783		1		-		1,784
Non-agency commercial mortgage-backed securities		309		7		-		316
Other securities		15		-		-		15
Total securities available for sale	$	60,996	$	416	$	46	$	61,366
Securities held to maturity:
U.S. agency mortgage-backed securities	$	35,097	$	811	$	48	$	35,860
Non-agency commercial mortgage-backed securities		1,001		23		-		1,024
Treasury securities		223		3		-		226
Total securities held to maturity	$	36,321	$	837	$	48	$	37,110


			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
December 31, 2014	Cost		Gains		Losses		Value
Securities available for sale:
Asset-backed securities	$	19,320	$	64	$	18	$	19,366
U.S. agency mortgage-backed securities		18,487		242		12		18,717
Corporate debt securities		8,023		30		8		8,045
U.S. agency notes		3,839		-		44		3,795
Treasury securities		2,993		2		1		2,994
Certificates of deposit		1,533		1		-		1,534
Non-agency commercial mortgage-backed securities		310		7		-		317
Other securities		15		-		-		15
Total securities available for sale	$	54,520	$	346	$	83	$	54,783
Securities held to maturity:
U.S. agency mortgage-backed securities	$	33,388	$	531	$	174	$	33,745
Non-agency commercial mortgage-backed securities		1,001		11		14		998
Total securities held to maturity	$	34,389	$	542	$	188	$	34,743

Schwab Bank pledges securities issued by federal agencies to secure certain trust deposits. The fair value of these pledged securities was $120 million at March 31, 2015.

A summary of securities with unrealized losses, aggregated by category and period of continuous unrealized loss, is as follows:


	Less than				12 months
	12 months				or longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
March 31, 2015	Value		Losses		Value		Losses		Value		Losses
Securities available for sale:
U.S. agency mortgage-backed securities	$	3,247	$	3	$	1,135	$	3	$	4,382	$	6
Asset-backed securities		5,694		19		750		5		6,444		24
Corporate debt securities		1,079		1		655		2		1,734		3
U.S. agency notes		1,373		2		2,254		11		3,627		13
Total	$	11,393	$	25	$	4,794	$	21	$	16,187	$	46
Securities held to maturity:
U.S. agency mortgage-backed securities	$	6,253	$	30	$	2,044	$	18	$	8,297	$	48
Total	$	6,253	$	30	$	2,044	$	18	$	8,297	$	48
Total securities with unrealized losses (1)	$	17,646	$	55	$	6,838	$	39	$	24,484	$	94


(1)	The number of investment positions with unrealized losses totaled 174 for securities available for sale and 71 for securities held to maturity.


	Less than				12 months
	12 months				or longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
December 31, 2014	Value		Losses		Value		Losses		Value		Losses
Securities available for sale:
Asset-backed securities	$	5,754	$	15	$	792	$	3	$	6,546	$	18
U.S. agency mortgage-backed securities		2,247		5	$	1,767		7	$	4,014		12
Corporate debt securities		1,781		4		552		4		2,333		8
U.S. agency notes		-		-		3,696		44		3,696		44
Treasury securities		1,246		1		-		-		1,246		1
Total	$	11,028	$	25	$	6,807	$	58	$	17,835	$	83
Securities held to maturity:
U.S. agency mortgage-backed securities	$	264	$	1	$	10,415	$	173	$	10,679	$	174
Non-agency commercial mortgage-backed
securities		-		-		660		14		660		14
Total	$	264	$	1	$	11,075	$	187	$	11,339	$	188
Total securities with unrealized losses (1)	$	11,292	$	26	$	17,882	$	245	$	29,174	$	271

(1)	The number of investment positions with unrealized losses totaled 173 for securities available for sale and 111 for securities held to maturity.

Management evaluates whether securities available for sale and securities held to maturity are OTTI on a quarterly basis as described in note “2—Summary of Significant Accounting Policies” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. There were no impairment charges recognized during the first quarters of 2015 or 2014.

The maturities of securities available for sale and securities held to maturity at March 31, 2015 are as follows:


			After 1 year		After 5 years
	Within		through		through		After
	1 year		5 years		10 years		10 years		Total
Securities available for sale:
U.S. agency mortgage-backed securities (1)	$	-	$	1,440	$	6,866	$	12,225	$	20,531
Asset-backed securities		2		3,470		5,474		11,558		20,504
Corporate debt securities		1,441		7,972		-		-		9,413
U.S. agency notes		-		5,222		-		-		5,222
Treasury securities		-		3,581		-		-		3,581
Certificates of deposit		873		911		-		-		1,784
Non-agency commercial mortgage-backed
securities (1)		-		-		-		316		316
Other securities		-		-		-		15		15
Total fair value	$	2,316	$	22,596	$	12,340	$	24,114	$	61,366
Total amortized cost	$	2,314	$	22,525	$	12,230	$	23,927	$	60,996
Securities held to maturity:
U.S. agency mortgage-backed securities (1)	$	-	$	868	$	17,764	$	17,228	$	35,860
Non-agency commercial mortgage-backed
securities (1)		-		-		369		655		1,024
Treasury securities		-		-		226		-		226
Total fair value	$	-	$	868	$	18,359	$	17,883	$	37,110
Total amortized cost	$	-	$	853	$	17,857	$	17,611	$	36,321

(1)	Mortgage-backed securities have been allocated to maturity groupings based on final contractual maturities. Actual maturities will differ from final contractual maturities because borrowers on a certain portion of loans underlying these securities have the right to prepay their obligations.

Proceeds and gross realized gains from sales of securities available for sale are as follows:


	Three Months Ended
	March 31,
	2015		2014
Proceeds	$	150	$	1,285
Gross realized gains	$	-	$	1