INANCIAL STATE
MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED SEPTEMBER 30, 2022 AND 2021
N OTE 5 - I NVESTMENT S ECURITIES (C ONTINUED ) 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, 2021:
Gross
Gross
Amortized
Unrealized
Unrealized
Fair
Cost
Gains
Losses
Value
U.S. government and government- sponsored enterprise obligations Mortgage-backed securities
$ 56,409,543
$
--
$
(142,479) (80,270)
$ 56,267,064
11,967,610
103,924 15,697
11,991,264
Municipal bonds
264,613
--
280,310
$
119,621
$
(222,749)
$ 68,538,638
$ 68,641,766
The amortized cost and estimated fair value of investment securities available-for-sale as of September 30, 2022, by contractual maturity are shown below. Expected maturities may differ from contractual maturities because the borrowers may have full or partial call rights.
Available-for-sale
Amortized
Fair
Cost
Value
Due in less than one year
$
19,330,817 39,977,617
$
18,722,607 36,618,062
Due after one year through five years Due after five years through ten years
231,738
262,696
59,571,130 9,336,881 68,908,011
55,572,407 8,091,294 63,663,701
Mortgage-backed securities
$
$
During the years ended September 30, 2022 and 2021, there were no sales of securities available-for-sale.
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2022 ANNUAL REPORT
67
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