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INVESTMENT SECURITIES (Tables)
 3 Months Ended
Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of held-to-maturity securities
The following presents the amortized cost, fair value, and allowance for credit losses of securities held-to-maturity and the corresponding amounts of gross unrecognized gains and losses as of the date noted (dollars in thousands):
March 31, 2024Amortized
Cost		Gross
Unrecognized
Gains		Gross
Unrecognized
Losses		Fair
Value		Allowance for
Credit Losses
Investment securities held-to-maturity:
U.S. Treasury debt$258 $— $(13)$245 $— 
Corporate bonds23,672 — (2,674)20,998 (71)
Government National Mortgage Association ("GNMA") mortgage-backed securities ("MBS") – residential33,202 — (3,559)29,643 — 
Federal National Mortgage Association ("FNMA") MBS – residential5,886 — (554)5,332 — 
Government collateralized mortgage obligations ("GMO") and MBS – commercial5,625 8 (416)5,217 — 
Corporate collateralized mortgage obligations ("CMO") and MBS(1)
3,731 — (258)3,473 — 
Total securities held-to-maturity$72,374 $8 $(7,474)$64,908 $(71)
December 31, 2023Amortized
Cost		Gross
Unrecognized
Gains		Gross
Unrecognized
Losses		Fair
Value		Allowance for Credit Losses
Investment securities held-to-maturity:
U.S. Treasury debt$253 $— $(11)$242 $— 
Corporate bonds23,687 — (3,020)20,667 (71)
GNMA mortgage-backed securities – residential34,579 — (3,410)31,169 — 
FNMA mortgage-backed securities – residential6,035 — (509)5,526 — 
Government GMO and MBS – commercial
5,836 9 (377)5,468 — 
Corporate CMO and MBS(1)
3,783 — (238)3,545 — 
Total securities held-to-maturity$74,173 $9 $(7,565)$66,617 $(71)
(1) Management reviewed the collectability of corporate CMO and MBS securities taking into consideration such factors as the asset quality of the corporate bond issuers and credit support and delinquencies associated with the corporate CMO and MBS.
Summary of the amortized cost and estimated fair value of held to maturity securities
March 31, 2024Amortized
Cost		Fair
Value
Due within one year$258 $245 
Due between one year and five years4,074 3,902 
Due between five years and ten years19,399 16,919 
Due after ten years199 177 
Securities (CMO and MBS)48,444 43,665 
Total$72,374 $64,908 
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 periods noted (dollars in thousands):
Three Months Ended March 31, 2024Corporate Bonds
Corporate CMO(1)
Allowance for credit losses:
Beginning balance$71 $— 
Provision for credit losses— — 
Securities charged-off (recoveries)— — 
Total ending allowance balance$71 $— 
Three Months Ended March 31, 2023Corporate Bonds
Corporate CMO(1)
Allowance for credit losses:
Beginning balance$— $— 
Impact of ASU 2016-13 adoption71 — 
Provision for credit losses— — 
Securities charged-off (recoveries)— — 
Total ending allowance balance$71 $— 
(1) Management reviewed the collectability of corporate CMO and MBS securities taking into consideration such factors as the asset quality of the corporate bond issuers and credit support and delinquencies associated with the corporate CMO and MBS.