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Securities
 6 Months Ended
Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Securities SECURITIES
Securities available for sale at June 30, 2020 and December 31, 2019 are as follows:
 June 30, 2020December 31, 2019
 AmortizedUnrealizedFairAmortizedUnrealizedFair
 CostGainsLossesValueCostGainsLossesValue
U.S. Gov’t sponsored entities$139,125  $7,521  $(27) $146,619  $124,189  $2,924  $(19) $127,094  
State & political subdivisions61,339  3,035  (183) 64,191  101,177  3,288  (102) 104,363  
Residential & multi-family mortgage293,605  11,804  (638) 304,771  273,404  4,117  (885) 276,636  
Corporate notes & bonds9,850  13  (691) 9,172  8,350  14  (282) 8,082  
Pooled SBA22,397  961  0  23,358  25,063  274  (163) 25,174  
Other1,020  0  (37) 983  1,020  0  (56) 964  
Total$527,336  $23,334  $(1,576) $549,094  $533,203  $10,617  $(1,507) $542,313  

At June 30, 2020 and December 31, 2019, there were no holdings of securities of any one issuer, other than the U.S. Government sponsored entities, in an amount greater than 10% of shareholders’ equity. The Corporation’s residential and multi-family mortgage securities are issued by government sponsored entities.
Trading securities at June 30, 2020 and December 31, 2019 are as follows:
June 30, 2020December 31, 2019
Corporate equity securities$3,847  $7,946  
Mutual funds994  807  
Certificates of deposit322  350  
Corporate notes and bonds675  655  
U.S. Government sponsored entities51  51  
Total$5,889  $9,809  
Securities with unrealized losses at June 30, 2020 and December 31, 2019, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows:
June 30, 2020
 Less than 12 Months12 Months or MoreTotal
Description of SecuritiesFair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
U.S. Gov’t sponsored entities$9,973  $(27) $0  $0  $9,973  $(27) 
State & political subdivisions492  (10) 677  (173) 1,169  (183) 
Residential & multi-family mortgage12,824  (53) 4,444  (585) 17,268  (638) 
Corporate notes & bonds0  0  4,313  (691) 4,313  (691) 
Pooled SBA0  0  0  0  0  0  
Other0  0  983  (37) 983  (37) 
$23,289  $(90) $10,417  $(1,486) $33,706  $(1,576) 

December 31, 2019
 Less than 12 Months12 Months or MoreTotal
 Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss		Fair
Value		Unrealized
Loss
U.S. Gov’t sponsored entities$7,040  $(3) $14,989  $(16) $22,029  $(19) 
State & political subdivisions826  (5) 684  (97) 1,510  (102) 
Residential & multi-family mortgage41,841  (346) 32,555  (539) 74,396  (885) 
Corporate notes & bonds0  0  4,718  (282) 4,718  (282) 
Pooled SBA8,560  (80) 6,075  (83) 14,635  (163) 
Other0  0  964  (56) 964  (56) 
$58,267  $(434) $59,985  $(1,073) $118,252  $(1,507) 
The Corporation evaluates securities for other-than-temporary impairment on a quarterly basis, or more frequently when economic or market conditions warrant such an evaluation.

At June 30, 2020 and December 31, 2019, management performed an assessment for possible other-than-temporary impairment of the Corporation’s debt securities, relying on information obtained from various sources, including publicly available financial data, ratings by external agencies, brokers and other sources. Based on the results of the assessment, management believes impairment of these debt securities at June 30, 2020 and December 31, 2019 to be temporary.
For the securities that comprise corporate notes and bonds and the securities that are issued by state and political subdivisions, management monitors publicly available financial information, such as filings with the Securities and Exchange Commission, in order to evaluate the securities for other-than-temporary impairment. For financial institution issuers, management monitors information from quarterly “call” report filings that are used to generate Uniform Bank Performance Reports. All other securities that were in an unrealized loss position at the balance sheet date were reviewed by management, and issuer-specific documents were reviewed as appropriate given the following considerations; the financial condition and near-term prospects of the issuer and whether downgrades by bond rating agencies have occurred, the length of time and extent to which fair value has been less than cost, and whether management does not have the intent to sell these securities and it is likely that it will not be required to sell the securities before their anticipated recovery.
As of June 30, 2020 and December 31, 2019, management concluded that the securities described in the previous paragraph were not other-than-temporarily impaired for the following reasons:
 
•There is no indication of any significant deterioration of the creditworthiness of the institutions that issued the securities.
•All contractual interest payments on the securities have been received as scheduled, and no information has come to management’s attention through the processes previously described which would lead to a conclusion that future contractual payments will not be timely received.
The Corporation does not intend to sell and it is not more likely than not that it will be required to sell the securities in an unrealized loss position before recovery of its amortized cost basis.
On June 30, 2020 and December 31, 2019, securities carried at $442,613 and $405,200, respectively, were pledged to secure public deposits and for other purposes as provided by law.
The following is a schedule of the contractual maturity of securities available for sale at June 30, 2020:
Amortized
Cost		Fair
Value
1 year or less$53,898  $54,102  
1 year – 5 years85,070  89,212  
5 years – 10 years65,052  70,171  
After 10 years6,294  6,497  
210,314  219,982  
Residential & multi-family mortgage293,605  304,771  
Pooled SBA22,397  23,358  
Other1,020  983  
Total debt securities$527,336  $549,094  
Mortgage and asset backed securities and pooled SBA securities are not due at a single date; periodic payments are received based on the payment patterns of the underlying collateral.
Information pertaining to security sales on available for sale securities is as follows:
ProceedsGross
Gains		Gross
Losses
Three months ended June 30, 2020$57,185  $2,257  $67  
Three months ended June 30, 2019$0  $0  $0  
Six months ended June 30, 2020$57,185  $2,257  $67  
Six months ended June 30, 2019$11,403  $152  $4  

The tax provision related to these net realized gains was $460 for the three and six months ended June 30, 2020 and zero and $31 during the three and six months ended June 30, 2019, respectively.