MARKETABLE SECURITIES (Tables)

3 Months Ended

Mar. 31, 2024

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, 2024 and December 31, 2023 and the corresponding amounts of gross unrealized gains and losses:

March 31, 2024	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Available for sale:
Corporate bonds	$	29,861	$	—	$	2,801	$	27,060
Municipal securities		2,321		152		—		2,473
Mortgage-backed securities		199,776		601		17,237		183,140
Collateralized mortgage obligations		17,980		5		1,871		16,114
Total available for sale	$	249,938	$	758	$	21,909	$	228,787
Held to maturity:
U.S. government agencies	$	9,331	$	—	$	1,127	$	8,204
Treasury securities		39,557		—		725		38,832
Municipal securities		161,031		625		6,604		155,052
Mortgage-backed securities		117,454		—		16,875		100,579
Collateralized mortgage obligations		36,590		—		7,777		28,813
Total held to maturity	$	363,963	$	625	$	33,108	$	331,480

December 31, 2023	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Available for sale:
Corporate bonds	$	29,882	$	—	$	3,077	$	26,805
Municipal securities		2,322		182		—		2,504
Mortgage-backed securities		164,419		1,014		15,621		149,812
Collateralized mortgage obligations		18,757		19		1,702		17,074
Total available for sale	$	215,380	$	1,215	$	20,400	$	196,195
Held to maturity:
U.S. government agencies	$	9,292	$	—	$	1,066	$	8,226
Treasury securities		69,432		—		1,038		68,394
Municipal securities		168,175		923		6,123		162,975
Mortgage-backed securities		119,872		—		15,105		104,767
Collateralized mortgage obligations		37,437		—		7,276		30,161
Total held to maturity	$	404,208	$	923	$	30,608	$	374,523

Schedule of Securities with Gross Unrealized Losses

Information pertaining to securities with gross unrealized losses as of March 31, 2024 and December 31, 2023, 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, 2024	Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value
Available for sale:
Corporate bonds	$	—		$	—	$	(2,801	)	$	27,060	$	(2,801	)	$	27,060
Mortgage-backed securities		(1,316	)		40,846		(15,921	)		97,768		(17,237	)		138,614
Collateralized mortgage obligations		—			—		(1,871	)		13,084		(1,871	)		13,084
Total available for sale	$	(1,316	)	$	40,846	$	(20,593	)	$	137,912	$	(21,909	)	$	178,758

	Less Than 12 Months					12 Months or Longer					Total
December 31, 2023	Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value
Available for sale:
Corporate bonds	$	—		$	—	$	(3,077	)	$	26,805	$	(3,077	)	$	26,805
Mortgage-backed securities		(742	)		13,308		(14,879	)		101,889		(15,621	)		115,197
Collateralized mortgage obligations		—			—		(1,702	)		13,976		(1,702	)		13,976
Total available for sale	$	(742	)	$	13,308	$	(19,658	)	$	142,670	$	(20,400	)	$	155,978

Schedule of Proceeds from Sales of Available for Sale Securities and Associated Gains and Losses

The proceeds from sales of available for sale securities and the associated gains and losses are listed below for the:

	Three Months Ended March 31,
	2024		2023
Proceeds from sales	$	—	$	7,239
Gross gains		—		119
Gross losses		—		(26	)

Investments Classified by Contractual Maturity Date

The contractual maturities at March 31, 2024 of available for sale and held to maturity securities at carrying value and estimated fair value are shown below. Expected maturities may differ from contractual maturities 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, 2024	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due within one year	$	7,497	$	7,373	$	23,695	$	23,456
Due after one year through five years		2,039		1,851		61,338		58,931
Due after five years through ten years		22,646		20,309		86,992		84,340
Due after ten years		—		—		37,894		35,361
Mortgage-backed securities		199,776		183,140		117,454		100,579
Collateralized mortgage obligations		17,980		16,114		36,590		28,813
Total securities	$	249,938	$	228,787	$	363,963	$	331,480