MARKETABLE SECURITIES (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2022 and December 31, 2021 and the corresponding amounts of gross unrealized gains and losses:

September 30, 2022	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Available for sale:
Corporate bonds	$	35,003	$	—	$	1,893	$	33,110
Municipal securities		9,487		33		103		9,417
Mortgage-backed securities		150,516		5		16,906		133,615
Collateralized mortgage obligations		23,484		6		1,688		21,802
Total available for sale	$	218,490	$	44	$	20,590	$	197,944
Held to maturity:
U.S. government agencies	$	9,103	$	—	$	1,277	$	7,826
Treasury securities		253,733		—		3,409		250,324
Municipal securities		192,101		86		10,162		182,025
Mortgage-backed securities		135,292		—		15,743		119,549
Collateralized mortgage obligations		43,157		—		7,037		36,120
Total held to maturity	$	633,386	$	86	$	37,628	$	595,844

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 September 30, 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
September 30, 2022	Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value
Available for sale:
Corporate bonds	$	(1,711	)	$	31,159	$	(182	)	$	1,951	$	(1,893	)	$	33,110
Municipal securities		(103	)		4,392		—			—		(103	)		4,392
Mortgage-backed securities		(11,585	)		94,622		(5,321	)		26,174		(16,906	)		120,796
Collateralized mortgage obligations		(1,688	)		21,359		—			—		(1,688	)		21,359
Total available for sale	$	(15,087	)	$	151,532	$	(5,503	)	$	28,125	$	(20,590	)	$	179,657
Held to maturity:
U.S. government agencies	$	(1,277	)	$	7,826	$	—		$	—	$	(1,277	)	$	7,826
Treasury securities		(3,409	)		250,324		—			—		(3,409	)		250,324
Municipal securities		(8,800	)		144,467		(1,362	)		3,171		(10,162	)		147,638
Mortgage-backed securities		(12,393	)		102,475		(3,350	)		17,074		(15,743	)		119,549
Collateralized mortgage obligations		(7,037	)		36,120		—			—		(7,037	)		36,120
Total held to maturity	$	(32,916	)	$	541,212	$	(4,712	)	$	20,245	$	(37,628	)	$	561,457

	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 September 30, 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
September 30, 2022	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due within one year	$	5,019	$	4,967	$	208,372	$	206,824
Due after one year through five years		10,100		9,743		107,637		105,615
Due after five years through ten years		26,285		24,833		67,053		62,297
Due after ten years		3,086		2,984		71,875		65,439
Mortgage-backed securities		150,516		133,615		135,292		119,549
Collateralized mortgage obligations		23,484		21,802		43,157		36,120
Total securities	$	218,490	$	197,944	$	633,386	$	595,844