87 / 146
SIERRA BANCORP AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Continued)
71
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
$ 28,801 $ 303 $ (62) $ 29,042
Mortgage-backed securities
374,683
2,440
(2,062)
375,061
State and political subdivisions
99,093
3,146
(56)
102,183
Equity securities
575
721
-
1,296
Total securities
503,152
$
6,610
$
(2,180)
$
507,582
$
US Government Agencies
$ 26,959 $ 334 $ (23)
27,270
$
Mortgage-backed securites
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
$
December 31, 2015
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
December 31, 2014
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair Value
For the years ended December 31, 2015, 2014, and 2013, proceeds from sales of securities available-for-
sale were $31.2 million, $26.7 million, and $700 thousand, 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):
2015
2014
2013
Gross gains on sales and calls of securities $ 894
$ 739
$ 6
Gross losses on sales and calls of securities
(228)
(72)
-
Net gains on sales and calls of securities
$ 666
$ 667
$ 6
December 31,