Annual report pursuant to Section 13 and 15(d)

INVESTMENT SECURITIES

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INVESTMENT SECURITIES
 12 Months Ended
Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]  
INVESTMENT SECURITIES
INVESTMENT SECURITIES
 
The amortized cost and estimated fair values of available-for-sale securities are as follows (dollar amounts in thousands):
As of December 31, 2016
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. government securities funds
 
$
1,799

 
$
—

 
$
(23
)
 
$
1,776

Total short-term investment securities
 
$
1,799

 
$
—

 
$
(23
)
 
$
1,776


 
There were no available for sale securities as of December 31, 2017.

During 2017, 2016, and 2015, the proceeds from the sales of available-for-sale securities were $1.8 million, $5,000, and $0.8 million, respectively. During the year ended December 31, 2016, the Company had gross realized gains of $0.3 million on sales of available-for-sale securities (net of tax). There were zero realized gains (losses) on sales of available-for-sales securities (net of tax) for the year ended December 31, 2015.
 
The Company’s trading securities portfolio totaled $2.0 million and $1.4 million at December 31, 2017 and 2016, respectively, and generated gains of $0.2 million, gains of $0.1 million, and losses of $5,000, for the years ended December 31, 2017, 2016, and 2015, respectively.