MSIC 2023 Annual Report

MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

N OTE 5 - I NVESTMENT S ECURITIES Investment securities have been classified according to management’s intent. The amortized cost and fair value of investment securities, with gross unrealized gains and losses are as follows for securities available-for-sale at September 30, 2023:

Gross

Amortized

Unrealized

Fair

Cost

Gains

Losses

Value

U.S. government and government- sponsored enterprise obligations Mortgage-backed securities

$ 59,736,235

844

$ (2,429,152) $ 57,307,927

9,014,719 260,806

-- --

(1,207,065)

7,807,654 229,330

Municipal bonds

(31,476)

844

$ (3,667,693) $ 65,344,911

$ 69,011,760

The amortized cost and fair value of investment securities, with gross unrealized gains and losses are as follows for securities available-for-sale at September 30, 2022:

Gross

Amortized

Unrealized

Fair

Cost

Gains

Losses

Value

U.S. government and government- sponsored enterprise obligations Mortgage-backed securities

$ 59,308,434

-- -- --

$ (3,967,765) $ 55,340,669

9,336,881 262,696

(1,245,587)

8,091,294 231,738

Municipal bonds

(30,958)

$ (5,244,310) $ 63,663,701

$ 68,908,011

90 INTERNATIONAL COLLABORATION