INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2022

INVESTMENTS

Schedule of Available-for-sale Securities Reconciliation

	June 30, 2022
							Estimated		Allowance
	Amortized		Unrealized		Unrealized		Fair		for Credit
SECURITIES AVAILABLE-FOR-SALE	Cost		Gains		Losses		Values		Losses
U.S. agency securities	$	21,154	$	68	$	(2,672)	$	18,550	$	—
Corporate securities		9,496		36		(764)		8,768		—
Municipal bonds		148,363		92		(21,324)		127,131		—
Mortgage-backed securities		85,142		77		(8,044)		77,175		—
U.S. Small Business Administration securities		16,848		21		(661)		16,208		—
Total securities available-for-sale		281,003		294		(33,465)		247,832		—
SECURITIES HELD-TO-MATURITY
Corporate securities		8,500		—		(158)		8,342		(31)
Total securities held-to-maturity		8,500		—		(158)		8,342		(31)
										—
Total securities	$	289,503	$	294	$	(33,623)	$	256,174	$	(31)

	December 31, 2021
							Estimated
	Amortized		Unrealized		Unrealized		Fair
SECURITIES AVAILABLE-FOR-SALE	Cost		Gains		Losses		Values
U.S. agency securities	$	21,155	$	133	$	(318)	$	20,970
Corporate securities		9,495		31		(524)		9,002
Municipal bonds		136,377		1,577		(2,521)		135,433
Mortgage-backed securities		88,641		1,457		(696)		89,402
U.S. Small Business Administration securities		16,383		235		(66)		16,552
Total securities available-for-sale		272,051		3,433		(4,125)		271,359
SECURITIES HELD-TO-MATURITY
Corporate securities		7,500		628		—		8,128
Total securities held-to-maturity		7,500		628		—		8,128
Total securities	$	279,551	$	4,061	$	(4,125)	$	279,487

Schedule of allowance of credit losses

	For the Three Months Ended		For the Six Months Ended
	June 30, 2022		June 30, 2022
	Corporate Securities		Corporate Securities
Beginning allowance balance	$	72	$	—
Impact of adopting ASU 2016-13		—		72
Recapture of provision for credit losses		(41)		(41)
Securities charged-off		—		—
Recoveries		—		—
Total ending allowance balance	$	31	$	31

Schedule of Amortized cost of debt securities

	Corporate
June 30, 2022	Securities
BBB/BBB-	$	8,500
December 31, 2021
BBB/BBB-	$	7,500

Schedule of Unrealized Loss on Investments

	June 30, 2022
	Less than 12 Months				12 Months or Longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
SECURITIES AVAILABLE-FOR-SALE	Value		Losses		Value		Losses		Value		Losses
U.S. agency securities	$	13,349	$	(1,837)	$	3,132	$	(835)	$	16,481	$	(2,672)
Corporate securities		1,494		(4)		4,240		(760)		5,734		(764)
Municipal bonds		81,129		(13,146)		39,852		(8,178)		120,981		(21,324)
Mortgage-backed securities		68,824		(7,451)		5,235		(593)		74,059		(8,044)
U.S. Small Business Administration securities		11,059		(661)		—		—		11,059		(661)
Total securities available-for-sale	$	175,855	$	(23,099)	$	52,459	$	(10,366)	$	228,314	$	(33,465)
SECURITIES HELD-TO-MATURITY
Corporate securities		7,342		(158)		—		—		7,342		(158)
Total securities held-to-maturity		7,342		(158)		—		—		7,342		(158)
Total	$	183,197	$	(23,257)	$	52,459	$	(10,366)	$	235,656	$	(33,623)

	December 31, 2021
	Less than 12 Months				12 Months or Longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
SECURITIES AVAILABLE-FOR-SALE	Value		Losses		Value		Losses		Value		Losses
U.S. agency securities	$	13,125	$	(105)	$	3,752	$	(213)	$	16,877	$	(318)
Corporate securities		—		—		5,476		(524)		5,476		(524)
Municipal bonds		72,098		(1,961)		14,116		(560)		86,214		(2,521)
Mortgage-backed securities		33,291		(620)		3,825		(76)		37,116		(696)
U.S. Small Business Administration securities		2,988		(66)		—		—		2,988		(66)
Total securities available-for-sale	$	121,502	$	(2,752)	$	27,169	$	(1,373)	$	148,671	$	(4,125)

Schedule of Available-for-Sale and Held-To-Maturity Securities by Contractual Maturity

	June 30, 2022				December 31, 2021
SECURITIES AVAILABLE-FOR-SALE	Amortized		Fair		Amortized		Fair
U.S. agency securities	Cost		Value		Cost		Value
Due after one year through five years	$	950	$	948	$	959	$	1,004
Due after five years through ten years		6,927		6,229		6,920		6,850
Due after ten years		13,277		11,373		13,276		13,116
Subtotal		21,154		18,550		21,155		20,970
Corporate securities
Due within one year		1,000		1,005		—		—
Due after one year through five years		2,496		2,523		3,495		3,526
Due after five years through ten years		4,000		3,788		4,000		3,627
Due after ten years		2,000		1,452		2,000		1,849
Subtotal		9,496		8,768		9,495		9,002
Municipal bonds
Due within one year		2,660		2,653		—		—
Due after one year through five years		1,051		1,047		3,724		3,850
Due after five years through ten years		8,013		7,729		6,857		7,035
Due after ten years		136,639		115,702		125,796		124,548
Subtotal		148,363		127,131		136,377		135,433
Mortgage-backed securities
Federal National Mortgage Association (“FNMA”)		70,871		63,653		75,171		75,737
Federal Home Loan Mortgage Corporation (“FHLMC”)		9,395		8,920		9,606		9,768
Government National Mortgage Association (“GNMA”)		4,876		4,602		3,864		3,897
Subtotal		85,142		77,175		88,641		89,402
U.S. Small Business Administration securities
Due after one year through five years		3,423		3,285		2,485		2,507
Due after five years through ten years		4,805		4,661		4,420		4,515
Due after ten years		8,620		8,262		9,478		9,530
Subtotal		16,848		16,208		16,383		16,552
Total securities available-for-sale		281,003		247,832		272,051		271,359
SECURITIES HELD-TO-MATURITY
Corporate securities
Due after five years through ten years		8,500		8,342		7,500		8,128
Total securities held-to-maturity		8,500		8,342		7,500		8,128
Total securities	$	289,503	$	256,174	$	279,551	$	279,487