The amortized cost and fair market value of available for sale securities and the related gross unrealized gains and losses recognized were as follows:

June 30, 2020	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. Treasury securities and obligations of U.S. government agencies	$	19,124	$	377	$	(1	)	$	19,500
Obligations of states and political subdivisions		206,192		18,139		(12	)		224,319
Mortgage-backed securities in government sponsored entities		118,322		6,247		(5	)		124,564
Total debt securities	$	343,638	$	24,763	$	(18	)	$	368,383

December 31, 2019	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. Treasury securities and obligations of U.S. government agencies	$	19,401	$	204	$	(4	)	$	19,601
Obligations of states and political subdivisions		193,646		12,409		(21	)		206,034
Mortgage-backed securities in government sponsored entities		129,145		3,863		(144	)		132,864
Total debt securities	$	342,192	$	16,476	$	(169	)	$	358,499

The amortized cost and fair value of securities at June 30, 2020, by contractual maturity, is shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Securities not due at a single maturity date, primarily mortgage-backed securities are shown separately.

Available for sale	Amortized Cost		Fair Value
Due in one year or less	$	8,185	$	8,252
Due after one year through five years		17,501		17,966
Due after five years through ten years		26,404		28,233
Due after ten years		173,226		189,368
Mortgage-backed securities		118,322		124,564
Total securities available for sale	$	343,638	$	368,383

Proceeds from sales of securities available for sale, gross realized gains and gross realized losses were as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Sale proceeds	$	—	$	—	$	—	$	16,829
Gross realized gains		—		—		—		47
Gross realized losses		—		—		—		43
Gains from securities called or settled by the issuer		—		10		—		10

Securities were pledged to secure public deposits, other deposits and liabilities as required by law. The carrying value of pledged securities was approximately $158,871 and $139,004 as of June 30, 2020 and December 31, 2019, respectively.

Securities with unrealized losses at June 30, 2020 and December 31, 2019 not recognized in income are as follows:

June 30, 2020	12 Months or less					More than 12 months					Total
Description of Securities	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
U.S. Treasury securities and obligations of U.S. government agencies	$	—	$	—		$	142	$	(1	)	$	142	$	(1	)
Obligations of states and political subdivisions		1,333		(12	)		—		—			1,333		(12	)
Mortgage-backed securities in gov’t sponsored entities		1,085		(5	)		—		—			1,085		(5	)
Total temporarily impaired	$	2,418	$	(17	)	$	142	$	(1	)	$	2,560	$	(18	)

December 31, 2019	12 Months or less					More than 12 months					Total
Description of Securities	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss			Fair Value		Unrealized Loss
U.S. Treasury securities and obligations of U.S. government agencies	$	—	$	—		$	3,408	$	(4	)	$	3,408	$	(4	)
Obligations of states and political subdivisions		1,947		(21	)		—		—			1,947		(21	)
Mortgage-backed securities in gov’t sponsored entities		10,653		(91	)		7,732		(53	)		18,385		(144	)
Total temporarily impaired	$	12,600	$	(112	)	$	11,140	$	(57	)	$	23,740	$	(169	)

At June 30, 2020, there were a total of 6 securities in the portfolio with unrealized losses mainly due to higher current market rates when compared to the time of purchase. Unrealized losses on securities have not been recognized into income because the issuers’ securities are of high credit quality, management has the intent and ability to hold these securities for the foreseeable future, and the decline in fair value is largely due to market yields increasing. The fair value is expected to recover as the securities approach their maturity date or reset date. The Company does not intend to sell until recovery and does not believe selling will be required before recovery.

The following table presents the net gains and losses on equity investments recognized in earnings for the three and six months ended June 30, 2020 and 2019, and the portion of unrealized gains and losses for the period that relates to equity investments held at June 30, 2020 and 2019:

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Net losses recognized on equity securities during the period	$	(5	)	$	(33	)	$	(146	)	$	(31	)
Less: Net losses realized on the sale of equity securities during the period		—			—			6			—
Unrealized losses recognized on equity securities held at reporting date	$	(5	)	$	(33	)	$	(140	)	$	(31	)