Volunteer Corporate Credit Union and Subsidiary Notes to the Consolidated Financial Statements (In Thousands)

Note 4: SECURITIES AVAILABLE FOR SALE (Continued)

Asset‐backed securities consist primarily of securitized credit card, student loan, mortgage, automobile dealer floor plan receivables and other assets.

VolCorp sold no securities during the years ended December 31, 2022 and 2021.

The amortized cost and estimated fair value of securities available for sale at December 31, 2022, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

Information pertaining to securities with gross unrealized losses at December 31, 2022 and 2021 aggregated by investment category and length of time that individual securities have been in a continuous loss position, follows: