MARKETABLE SECURITIES (Tables)

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Amortized Cost and Fair Value of Securities Available for Sale and Held to Maturity Securities

The following tables summarize the amortized cost and fair value of available for sale and held to maturity securities as of March 31, 2022 and December 31, 2021 and the corresponding amounts of gross unrealized gains and losses:

March 31, 2022	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Available for sale:
U.S. government agencies	$	10,012	$	—	$	731	$	9,281
Corporate bonds		35,055		86		645		34,496
Mortgage-backed securities		212,489		131		14,728		197,892
Collateralized mortgage obligations		69,090		62		4,117		65,035
Total available for sale	$	326,646	$	279	$	20,221	$	306,704
Held to maturity:
Treasury securities	$	271,098	$	—	$	1,169	$	269,929
Municipal securities		190,904		1,997		3,060		189,841
Mortgage-backed securities		32,287		—		1,534		30,753
Total held to maturity	$	494,289	$	1,997	$	5,763	$	490,523

December 31, 2021	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Available for sale:
U.S. government agencies	$	10,013	$	—	$	42	$	9,971
Corporate bonds		35,080		940		85		35,935
Mortgage-backed securities		221,610		1,477		1,779		221,308
Collateralized mortgage obligations		74,925		971		904		74,992
Total available for sale	$	341,628	$	3,388	$	2,810	$	342,206
Held to maturity:
Municipal securities	$	181,310	$	8,364	$	118	$	189,556
Mortgage-backed securities		2,953		—		37		2,916
Total held to maturity	$	184,263	$	8,364	$	155	$	192,472

Schedule of Securities with Gross Unrealized Losses

Information pertaining to securities with gross unrealized losses as of March 31, 2022 and December 31, 2021, for which no allowance for credit losses has been recorded, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position is detailed in the following tables:

	Less Than 12 Months					12 Months or Longer					Total
March 31, 2022	Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value
Available for sale:
U.S. government agencies	$	(731	)	$	9,281	$	—		$	—	$	(731	)	$	9,281
Corporate bonds		(645	)		23,336		—			—		(645	)		23,336
Mortgage-backed securities		(12,285	)		168,057		(2,443	)		22,846		(14,728	)		190,903
Collateralized mortgage obligations		(4,117	)		56,020		—			—		(4,117	)		56,020
Total available for sale	$	(17,778	)	$	256,694	$	(2,443	)	$	22,846	$	(20,221	)	$	279,540
Held to maturity:
Treasury securities	$	(1,169	)	$	269,929	$	—		$	—		(1,169	)		269,929
Municipal securities		(2,333	)		41,962		(727	)		2,347		(3,060	)		44,309
Mortgage-backed securities		(1,534	)		30,753		—			—		(1,534	)		30,753
Total held to maturity	$	(5,036	)	$	342,644	$	(727	)	$	2,347	$	(5,763	)	$	344,991

	Less Than 12 Months					12 Months or Longer					Total
December 31, 2021	Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value
Available for sale:
U.S. government agencies	$	(42	)	$	9,971	$	—		$	—	$	(42	)	$	9,971
Corporate bonds		(85	)		11,418		—			—		(85	)		11,418
Mortgage-backed securities		(1,383	)		144,367		(396	)		11,317		(1,779	)		155,684
Collateralized mortgage obligations		(904	)		40,172		—			—		(904	)		40,172
Total available for sale	$	(2,414	)	$	205,928	$	(396	)	$	11,317	$	(2,810	)	$	217,245
Held to maturity:
Municipal securities	$	(37	)	$	7,772	$	(81	)	$	2,996	$	(118	)	$	10,768
Mortgage-backed securities		(37	)		2,916		—			—		(37	)		2,916
Total held to maturity	$	(74	)	$	10,688	$	(81	)	$	2,996	$	(155	)	$	13,684

Investments Classified by Contractual Maturity Date

The contractual maturities at March 31, 2022 of available for sale and held to maturity securities at carrying value and estimated fair value are shown below. The Company invests in mortgage-backed securities and collateralized mortgage obligations that have expected maturities that differ from their contractual maturities. These differences arise because borrowers and/or issuers may have the right to call or prepay their obligation with or without call or prepayment penalties.

	Available for Sale				Held to Maturity
March 31, 2022	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due within one year	$	—	$	—	$	233,817	$	233,217
Due after one year through five years		14,620		14,647		98,824		98,980
Due after five years through ten years		30,447		29,130		53,743		53,495
Due after ten years		—		—		75,618		74,078
Mortgage-backed securities		212,489		197,892		32,287		30,753
Collateralized mortgage obligations		69,090		65,035		—		—
Total securities	$	326,646	$	306,704	$	494,289	$	490,523