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temporarily impaired. The Company recorded other-temporary-impairment charges during 2011 of $72,000 to reduce the carrying value of the common stock investments to fair value. 

It is reasonably possible that the fair values of the Company’s investment securities could decline in the future if the overall economy and/or the financial condition of some of the issuers of these securities deteriorate and/or if the liquidity in markets for these securities declines. As a result, there is a risk that additional other-than-temporary impairments may occur in the future and any such amounts could be material to the Company’s consolidated financial statements. The fair value of the Company’s investment securities may also decline from an increase in market interest rates, as the market prices of these investments move inversely to their market yields. 

During 2012, the Company sold its portfolio of pooled trust preferred investment securities. The portfolio consisted of three pooled trust preferred securities with an original cost basis of $2.5 million, which represented investments in pools of collateralized debt obligations issued by financial institutions and insurance companies. Prior to the sale of the securities, the Company recorded credit losses totaling $1.4 million through charges to earnings, including $63,000 in 2012. The Company also recognized a $309,000 loss on the sale of the pooled trust preferred investment securities. 

Maturities of investment securities at December 31, 2012 are as follows: 

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The table above includes scheduled principal payments and estimated prepayments, based on observable market inputs, for mortgage-backed securities, where actual maturities will differ from contractual maturities because borrowers have the right to prepay obligations with or without prepayment penalties. 

Gross realized gains and losses on sales of available-for-sale securities are as follows: 

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At December 31, 2012, securities pledged to secure public funds on deposit, repurchase agreements and as collateral for borrowings had a carrying value of approximately $109.2 million. Except for U.S. federal agency obligations, no investment in a single issuer exceeded 10% of consolidated stockholders’ equity. 

Other investment securities primarily consist of restricted investments in FHLB and Federal Reserve Bank (“FRB”) stock. The carrying value of the FHLB stock at December 31, 2012 was $3.4 million compared to $4.9 million at December 31, 2011. The carrying value of the FRB stock at December 31, 2012 and 2011 was $1.8 million. These securities are not readily marketable and are required for regulatory purposes and borrowing availability. Since there are no available market values, these securities are carried at cost. Redemption of these investments at par value is at the option of the FHLB or FRB. Also included in other investment securities are other miscellaneous investments in the common stock of various correspondent banks which are held for borrowing purposes and totaled $113,000 and $60,000 at December 31, 2012 and December 31, 2011, respectively. The Company assessed the ultimate recoverability of these investments and believes that no impairment has occurred. 

