b'2018Less than 12 months 12 months or more TotalFair UnrealizedFair UnrealizedFair Unrealized Description of Securities Value Losses Value Losses Value LossesCorporate bonds $ - $-$1,284,769 $ 51,787 $1,284,769 $ 51,787Small business obligations549,7663,565 3,043,075125,355 3,592,841128,920State and political subdivisions 3,515,60618,1611 7,963,345 6 98,987 21,478,951717,148Mortgage backed securities: Government issued or guaranteed- -5,080,676180,466 5,080,676180,466Collateralized mortgage obligations: Government issued or guaranteed 10,106,036320,158 10,106,036320,158 Privately issued- - 17,1234,41917,1234,419US government agencies and corporations 1,126,145 2 3,855 1,126,14523,855Total temporarily impaired securities $4,065,372 $ 21,726 $38,621,169 $1,405,027 $42,686,541 $1,426,7532017Less than 12 months 12 months or more TotalFair UnrealizedFair UnrealizedFair Unrealized Description of Securities Value Losses Value Losses Value LossesCorporate bonds $1,319,419 $ 19,601 $ - $-$1,319,419 $ 19,601Small business obligations 2,318,60016,469 3,241,30183,159 5,559,90199,628State and political subdivisions 8,051,07856,421 9,760,322380,773 17,811,400437,194Mortgage backed securities: Government issued or guaranteed 2,322,23833,364 5,606,397184,147 7,928,635217,511Collateralized mortgage obligations: Government issued or guaranteed 3,906,41354,684 7,633,768222,279 11,540,181276,963 Privately issued 19,5474,70119,5474,701US government agencies and corporations495,3084,692633,82116,178 1,129,12920,870Total temporarily impaired securities $18,413,056 $ 185,231 $26,895,156 $ 891,237 $45,308,212 $1,076,468At December 31, 2018, there were 92 available for sale securities that have unrealized losses with aggregate depreciation of 3.2% from their amortized cost basis.At December 31, 2017, there were 87 available for sale securities that have unrealized losses with aggregate depreciation of 2.4% from their amortized cost basis.The unrealized losses relate principally to collateralized mortgage obligations, mortgage backed securities, municipal obligations and US government agency securities and it is more likely than not that management will not be required to sell the securities before the market value has recovered.When analyzing the unrealized losses related to collateralized mortgage obligations, management considers the collateral composition, prepayment history and the overall credit worthiness of the investment.17'