MARKETABLE SECURITIES (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2024 and December 31, 2023 and the corresponding amounts of gross unrealized gains and losses:

June 30, 2024	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Available for sale:
Corporate bonds	$	29,842	$	—	$	2,473	$	27,369
Municipal securities		2,320		90		—		2,410
Mortgage-backed securities		212,663		821		15,888		197,596
Collateralized mortgage obligations		16,964		2		1,679		15,287
Total available for sale	$	261,789	$	913	$	20,040	$	242,662
Held to maturity:
U.S. government agencies	$	9,370	$	—	$	1,058	$	8,312
Treasury securities		29,665		—		565		29,100
Municipal securities		158,734		316		7,459		151,591
Mortgage-backed securities		114,702		—		15,665		99,037
Collateralized mortgage obligations		35,521		—		7,238		28,283
Total held to maturity	$	347,992	$	316	$	31,985	$	316,323

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 available for sale with gross unrealized losses as of June 30, 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
June 30, 2024	Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value
Available for sale:
Corporate bonds	$	—		$	—	$	(2,473	)	$	27,369	$	(2,473	)	$	27,369
Mortgage-backed securities		(594	)		47,685		(15,294	)		105,806		(15,888	)		153,491
Collateralized mortgage obligations		(1	)		101		(1,678	)		12,496		(1,679	)		12,597
Total available for sale	$	(595	)	$	47,786	$	(19,445	)	$	145,671	$	(20,040	)	$	193,457

	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 June 30,					Six Months Ended June 30,
	2024		2023			2024		2023
Proceeds from sales	$	—	$	14,029		$	—	$	21,268
Gross gains		—		65			—		184
Gross losses		—		(387	)		—		(413	)

Investments Classified by Contractual Maturity Date

The contractual maturities at June 30, 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
June 30, 2024	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due within one year	$	7,498	$	7,413	$	33,497	$	32,917
Due after one year through five years		2,033		1,926		41,514		39,518
Due after five years through ten years		22,631		20,440		86,505		83,041
Due after ten years		—		—		36,253		33,527
Mortgage-backed securities		212,663		197,596		114,702		99,037
Collateralized mortgage obligations		16,964		15,287		35,521		28,283
Total securities	$	261,789	$	242,662	$	347,992	$	316,323