7. Investment and Mortgage-Backed Securities, Held to Maturity

The amortized cost, gross unrealized gains, gross unrealized losses, and fair values of held to maturity securities at the dates indicated below were as follows:



	March 31, 2017
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
FHLB Bonds	$	2,000,000	$	—	$	7,778	$	1,992,222
FHLMC Bonds	1,997,782		—		5,597		1,992,185
Mortgage-Backed Securities (1)	24,426,233		98,300		180,953		24,343,580
Total Held To Maturity	$	28,424,015	$	98,300	$	194,328	$	28,327,987

^{(1) COMPRISED OF GSEs OR GNMA MORTGAGE-BACKED SECURITIES}



	December 31, 2016
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Mortgage-Backed Securities (1)	$	25,583,956	$	63,342	$	276,246	$	25,371,052
Total Held To Maturity	$	25,583,956	$	63,342	$	276,246	$	25,371,052

^{(1) COMPRISED OF GSEs OR GNMA MORTGAGE-BACKED SECURITIES}

At March 31, 2017, the Bank held an amortized cost and fair value of $15.4 million in HTM GNMA mortgage-backed securities, which are included in the table above, compared to an amortized cost and fair value of $16.3 million and $16.2 million, respectively, at December 31, 2016. The Company has not invested in any private label mortgage-backed securities classified as held to maturity.

At March 31, 2017, the amortized cost and fair value of mortgage-backed securities held to maturity that were pledged as collateral for certain deposit accounts, FHLB advances and other borrowings were $22.0 million and $21.9 million, respectively, compared to an amortized cost and fair value of $23.2 million and $23.0 million, respectively, at December 31, 2016.

7. Investment and Mortgage-Backed Securities, Held to Maturity, Continued

The following tables show gross unrealized losses, fair value, and length of time that individual held to maturity securities were in a continuous unrealized loss position at the dates indicated below.



	March 31, 2017
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
FHLB Bonds	$	1,992,222	$	7,778	$	—	$	—	$	1,992,222	$	7,778
FHLMC Bonds	1,992,185		5,597		—		—		1,992,185		5,597
Mortgage-Backed Securities (1)	16,294,194		180,953		—		—		16,294,194		180,953
	$	20,278,601	$	194,328	$	—	$	—	$	20,278,601	$	194,328

	December 31, 2016
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses

Mortgage-Backed Securities (1)	$	15,447,596	$	276,246	$	—	$	—	$	15,447,596	$	276,246
	$	15,447,596	$	276,246	$	—	$	—	$	15,447,596	$	276,246

^{(1) COMPRISED OF GSEs OR GNMA MORTGAGE-BACKED SECURITIES}

The Company’s held to maturity portfolio is recorded at amortized cost. The Company has the ability and intent to hold these securities to maturity.