MARKETABLE SECURITIES (Tables)

9 Months Ended

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

September 30, 2024	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Available for sale:
Treasury securities	$	14,968	$	3	$	4	$	14,967
Corporate bonds		27,823		—		1,823		26,000
Municipal securities		2,319		122		—		2,441
Mortgage-backed securities		227,136		3,202		10,904		219,434
Collateralized mortgage obligations		15,921		11		1,207		14,725
Total available for sale	$	288,167	$	3,338	$	13,938	$	277,567
Held to maturity:
U.S. government agencies	$	9,410	$	—	$	736	$	8,674
Treasury securities		29,768		—		263		29,505
Municipal securities		156,506		578		5,538		151,546
Mortgage-backed securities		111,767		—		10,945		100,822
Collateralized mortgage obligations		34,460		—		5,694		28,766
Total held to maturity	$	341,911	$	578	$	23,176	$	319,313

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 September 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
September 30, 2024	Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value
Available for sale:
Treasury securities	$	(4	)	$	9,881	$	—		$	—	$	(4	)	$	9,881
Corporate bonds		—			—		(1,823	)		26,000		(1,823	)		26,000
Mortgage-backed securities		(233	)		3,051		(10,671	)		105,788		(10,904	)		108,839
Collateralized mortgage obligations		—			—		(1,207	)		12,157		(1,207	)		12,157
Total available for sale	$	(237	)	$	12,932	$	(13,701	)	$	143,945	$	(13,938	)	$	156,877

	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 September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Proceeds from sales	$	—	$	—	$	—	$	21,268
Gross gains		—		—		—		184
Gross losses		—		—		—		(413	)

Investments Classified by Contractual Maturity Date

The contractual maturities at September 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
September 30, 2024	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due within one year	$	10,462	$	10,426	$	34,512	$	34,241
Due after one year through five years		12,032		11,951		41,115		39,991
Due after five years through ten years		22,616		21,031		89,580		87,178
Due after ten years		—		—		30,477		28,315
Mortgage-backed securities		227,136		219,434		111,767		100,822
Collateralized mortgage obligations		15,921		14,725		34,460		28,766
Total securities	$	288,167	$	277,567	$	341,911	$	319,313