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INVESTMENT SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of held-to-maturity securities
The following presents the amortized cost and fair value of securities held-to-maturity and the corresponding amounts of gross unrecognized gains and losses as of the date noted (dollars in thousands):
June 30, 2023
Amortized
Cost
Gross
Unrecognized
Gains
Gross
Unrecognized
Losses
Fair
Value
Allowance for
Credit Losses(1)
Investment securities held-to-maturity:
U.S. Treasury debt$247 $— $(10)$237 $— 
Corporate bonds23,758 — (3,507)20,251 (71)
GNMA mortgage-backed securities – residential36,921 — (3,278)33,643 — 
FNMA mortgage-backed securities – residential6,370 — (545)5,825 — 
Government CMO and MBS - commercial6,293 11 (412)5,892 — 
Corporate CMO and MBS3,951 — (248)3,703 — 
Total securities held-to-maturity$77,540 $11 $(8,000)$69,551 $(71)
(1) Refer to Note 1—Organization and Summary of Significant Accounting Policies for further information on our credit loss methodology.
December 31, 2022
Amortized
Cost
Gross
Unrecognized
Gains
Gross
Unrecognized
Losses
Fair
Value
Investment securities held-to-maturity:
U.S. Treasury debt$243 $— $(9)$234 
Corporate bonds23,819 — (2,453)21,366 
GNMA mortgage-backed securities – residential39,426 — (2,800)36,626 
FNMA mortgage-backed securities – residential6,708 — (506)6,202 
Government CMO and MBS - commercial6,786 13 (403)6,396 
Corporate CMO and MBS4,074 — (180)3,894 
Total securities held-to-maturity$81,056 $13 $(6,351)$74,718 
Summary of the amortized cost and estimated fair value of held to maturity securities
June 30, 2023Amortized
Cost		Fair
Value
Due within one year$— $— 
Due between one year and five years2,239 2,047 
Due between five years and ten years21,513 18,208 
Due after ten years253 233 
Securities (CMO and MBS)53,535 49,063 
Total$77,540 $69,551 
Allowance for credit losses for HTM securities The following table presents the activity in the allowance for credit losses for debt securities held-to-maturity by major security type for the three and six months ended June 30, 2023:
Three Months Ended June 30, 2023Corporate BondsCorporate CMO
Allowance for credit losses:
Beginning balance$71 $— 
Provision for credit losses— — 
Securities charged-off (recoveries)— — 
Total ending allowance balance$71 $— 
Six Months Ended June 30, 2023Corporate BondsCorporate CMO
Allowance for credit losses:
Beginning balance$— $— 
Impact of ASU 2016-13 adoption(1)
71 — 
Provision for credit losses— — 
Securities charged-off (recoveries)— — 
Total ending allowance balance$71 $— 
(1) Refer to Note 1—Organization and Summary of Significant Accounting Policies for further information on our credit loss methodology.
Schedule of the amortized cost and fair value of securities held to maturity, with gross unrecognized gains and losses
The following presents securities with unrecognized losses aggregated by major security type and length of time in a continuous unrecognized loss position as of the date noted (dollars in thousands, before tax):
Less than 12 Months12 Months or LongerTotal
June 30, 2023Fair
Value		Unrecognized
Losses		Fair
Value		Unrecognized
Losses		Fair
Value		Unrecognized
Losses
Investment securities held-to-maturity:
U.S. Treasury debt$— $— $237 $(10)$237 $(10)
Corporate bonds— — 20,251 (3,507)20,251 (3,507)
GNMA mortgage-backed securities – residential6,267 (393)27,377 (2,885)33,644 (3,278)
FNMA mortgage-backed securities – residential— — 5,825 (545)5,825 (545)
Government CMO and MBS - commercial52 *5,241 (412)5,293 (412)
Corporate CMO and MBS2,689 (162)990 (86)3,679 (248)
Total$9,008 $(555)$59,921 $(7,445)$68,929 $(8,000)
(*) Immaterial
Less than 12 Months12 Months or LongerTotal
December 31, 2022Fair
Value		Unrecognized
Losses		Fair
Value		Unrecognized
Losses		Fair
Value		Unrecognized
Losses
Investment securities held-to-maturity:
U.S. Treasury debt$— $— $234 $(9)$234 $(9)
Corporate bonds20,911 (2,436)455 (17)21,366 (2,453)
GNMA mortgage-backed securities – residential22,371 (1,051)14,255 (1,749)36,626 (2,800)
FNMA mortgage-backed securities - residential6,202 (506)— — 6,202 (506)
Government CMO and MBS - commercial5,591 (403)— — 5,591 (403)
Corporate CMO and MBS3,499 (147)395 (33)3,894 (180)
Total$58,574 $(4,543)$15,339 $(1,808)$73,913 $(6,351)