Annual report pursuant to Section 13 and 15(d)

INVESTMENT SECURITIES

v3.3.1.900
INVESTMENT SECURITIES
12 Months Ended
Dec. 31, 2015
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, 2015
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. government securities funds
 
$
1,794

 
$

 
$
(22
)
 
$
1,772

Total short-term investment securities
 
$
1,794

 
$

 
$
(22
)
 
$
1,772

As of December 31, 2014
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
Municipal obligations
 
$
100

 
$
1

 
$

 
$
101

U.S. government securities funds
 
1,791

 

 
(15
)
 
1,776

Equity securities
 
227

 
454

 
(12
)
 
669

Total short-term investment securities
 
$
2,118

 
$
455

 
$
(27
)
 
$
2,546


 
During 2015, 2014, and 2013, the proceeds from the sales of available-for-sale securities were $0.8 million, $0.2 million, and $0.2 million, respectively. During the year ended December 31, 2015, 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 years ended December 31, 2014 and 2013, respectively.
 
The Company’s trading securities portfolio totaled $1.0 million and $1.0 million at December 31, 2015 and 2014, respectively, and generated losses of $5,000, and gains of $0.1 million, and $0.1 million, for the years ended December 31, 2015, 2014, and 2013, respectively.