SIERRA BANCORP AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Continued)
70
3.
SECURITIES AVAILABLE-FOR-SALE
The amortized cost and fair value of the securities available-for-sale are as follows (dollars in thousands):
US Government Agencies
$ 26,959 $ 334 $ (23) $ 27,270
Mortgage-backed securities
378,339
4,299
(1,196)
381,442
State and political subdivisions
98,056
3,093
(200)
100,949
Equity securities
1,210
1,012
-
2,222
Total securities
504,564
$
8,738
$
(1,419)
$
511,883
$
US Government Agencies
$ 5,395 $ 18 $ (109)
5,304
$
Mortgage-backed securites
320,223
3,269
(2,771)
320,721
State and political subdivisions
97,361
1,723
(2,521)
96,563
Equity securities
1,336
1,120
-
2,456
Total securities
424,315
$
6,130
$
(5,401)
$
425,044
$
December 31, 2014
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
December 31, 2013
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
For the years ended December 31, 2014, 2013, and 2012, proceeds from sales of securities available-for-
sale were $26.7 million, $700 thousand, and $56.4 million, respectively. Gains and losses on the sale of
investment securities are recorded on the trade date and are determined using the specific identification
method.
Gross gains and losses from the sales and calls of securities for the years ended were as follows (dollars in
thousands):
2014
2013
2012
Gross gains on sales and calls of securities $ 739
$ 6
$ 2,059
Gross losses on sales and calls of securities
(72)
-
(297)
Net gains on sales and calls of securities
$ 667
$ 6
$ 1,762
December 31,
