CASH 2017 Annual Report

21 The composition and maturities of the Company’s available for sale and held to maturity investment securities portfolio, excluding equity securities, FHLB stock and mortgage-backed securities, are indicated in the following table. The actual maturity of certain municipal housing related securities are typically less than its stated contractual maturity due to scheduled principal payments and prepayments of the underlying mortgages. September 30, 2017 1 Year or Less After 1 Year Through 5 Years After 5 Years Through 10 Years After 10 Years Total Investment Securities Carrying Value Carrying Value Carrying Value Carrying Value Amortized Cost Fair Value Available for Sale (Dollars in Thousands) Asset backed securities — — — 96,832 94,451 96,832 Small business administration securities — — 43,160 14,711 57,046 57,871 Non-bank qualified obligations of states and political subdivisions — 37,674 315,038 598,117 938,883 950,829 Total Investment Securities AFS $ — $ 37,674 $ 358,198 $ 709,660 $ 1,090,380 $ 1,105,532 Weighted Average Yield (1) —% 1.38% 1.89% 2.75% 2.67% 2.39% September 30, 2017 1 Year or Less After 1 Year Through 5 Years After 5 Years Through 10 Years After 10 Years Total Investment Securities Carrying Value Carrying Value Carrying Value Carrying Value Amortized Cost Fair Value Held to Maturity (Dollars in Thousands) Obligations of states and political subdivisions $ 1,483 $ 5,893 $ 8,473 $ 3,398 $ 19,247 $ 19,368 Non-bank qualified obligations of states and political subdivisions — 12,033 136,523 282,037 430,593 432,361 Total Investment Securities HTM $ 1,483 $ 17,926 $ 144,996 $ 285,435 $ 449,840 $ 451,729 Weighted Average Yield (1) 1.43% 1.83% 2.19% 2.90% 2.62% 2.41% (1) Yields on tax-exempt obligations have not been computed on a tax-equivalent basis. Mortgage-Backed Securities . The Company’s mortgage-backed and related securities portfolio as of September 30, 2017 consisted entirely of securities issued by U.S. Government agencies or instrumentalities, including those of Ginnie Mae, Fannie Mae, Freddie Mac and Farmer Mac. The Ginnie Mae, Fannie Mae, Freddie Mac and Farmer Mac certificates are modified pass through mortgage-backed securities representing undivided interests in underlying pools of fixed rate, or certain types of adjustable-rate, predominantly single-family mortgages issued by these U.S. Government agencies or instrumentalities. At September 30, 2017, the Company had a diverse portfolio of mortgage-backed securities with an amortized cost of $702.6 million, all at fixed rates of interest. At September 30, 2017, the Company held primarily seasoned 20-year, 30-year, and 40-year pass through mortgage-backed securities. Coupons on these securities ranged from below 3% to 4.5%.