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INVESTMENT SECURITIES
 6 Months Ended
Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]  
INVESTMENT SECURITIES INVESTMENT SECURITIES
The amortized costs, gross unrealized gains and losses, and estimated fair values of investment securities available for sale and investment securities held to maturity at June 30, 2023 and December 31, 2022 as well as the ACL for investment securities held to maturity at June 30, 2023 are summarized as follows:
June 30, 2023Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Investment securities available for sale:
Asset-backed securities
$9,143 $— $(243)$8,900 
Mortgage-backed securities:
U.S. Government-sponsored enterprises
3,985 — (671)3,314 
Collateralized mortgage obligations:
U.S. Government-sponsored enterprises
21,250 — (3,460)17,790 
Corporate bonds11,335 14 (10)11,339 
Total investment securities available for sale
$45,713 $14 $(4,384)$41,343 
June 30, 2023Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value		ACL
Investment securities held to maturity:
Mortgage-backed securities:
U.S. Government-sponsored enterprises
$2 $— $— $2 $— 
Corporate bonds2,500 — (280)2,220 19 
Total investment securities held to maturity
$2,502 $— $(280)$2,222 $19 
.
December 31, 2022Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Investment securities available for sale:
Asset-backed securities
$9,873 $— $(268)$9,605 
Mortgage-backed securities:
U.S. Government-sponsored enterprises
4,133 — (693)3,440 
Collateralized mortgage obligations:
U.S. Government-sponsored enterprises
22,031 — (3,811)18,220 
Corporate bonds11,337 — (253)11,084 
Total investment securities available for sale
$47,374 $— $(5,025)$42,349 

December 31, 2022Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair
Value
Investment securities held to maturity:
Mortgage-backed securities:
U.S. Government-sponsored enterprises
$2 $— $— $2 
Corporate bonds5,000 — (247)4,753 
Total investment securities held to maturity
$5,002 $— $(247)$4,755 
The amortized cost and fair value of investment securities as of June 30, 2023 are shown in the table below by contractual maturity. Actual timing may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties.
Available for SaleHeld to Maturity
Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
One to five years$11,335 $11,339$1,500 $1,390
Five to ten years— —1,000 830
Beyond ten years34,378 30,0042 2
Total$45,713 $41,343$2,502 $2,222
No ACL for investment securities AFS was needed at June 30, 2023. Accrued interest receivable on securities AFS is excluded from the estimate of credit losses and is included in accrued interest receivable in the Consolidated Balance Sheets.
As of June 30, 2023, there were no past due principal and interest payments associated with the HTM securities. There was an ACL of $19 on corporate bonds HTM based on applying the long-term historical credit loss rate for similarly rated securities.
The following table presents the activity in the ACL for investment securities HTM by major security type for the three and six months ended June 30, 2023:
For the Three Months Ended
For the Six Months Ended
Corporate BondsJune 30, 2023
Balance at beginning of period$18 $— 
Impact of adopting ASC 326— 18 
Provision for credit losses1 1 
Investment securities charge-offs/recoveries— — 
Investment securities recoveries— — 
Balance at end of period$19 $19 
The following table summarizes investment securities with unrealized losses at June 30, 2023 aggregated by security type and length of time in a continuous unrealized loss position:
Less than 12 Months12 Months or LongerTotal
June 30, 2023Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized LossesNumber of Securities
Investment securities available for sale:
Asset-backed securities$— $— $8,900 $(243)$8,900 $(243)3
Mortgage-backed securities:
U.S. Government-sponsored enterprises— — 3,314 (671)3,314 (671)2
Collateralized mortgage obligations:
U.S. Government-sponsored enterprises— — 15,685 (3,460)15,685 (3,460)7
Corporate bonds— — 2,450 (10)2,450 (10)1
Total investment securities available for sale$— $— $30,349 $(4,384)$30,349 $(4,384)13
Investment securities held to maturity:
Corporate bonds$2,220 $(280)$— $— $2,220 $(280)3
Total investment securities held to maturity$2,220 $(280)$— $— $2,220 $(280)3
The following table summarizes investment securities with unrealized losses at December 31, 2022 aggregated by security type and length of time in a continuous unrealized loss position:
Less than 12 Months12 Months or LongerTotal
December 31, 2022Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized LossesNumber of Securities
Investment securities available for sale:
Asset-backed securities$2,156 $(103)$7,449 $(165)$9,605 $(268)3
Mortgage-backed securities:
U.S. Government-sponsored enterprises— — 3,440 (693)3,440 (693)2
Collateralized mortgage obligations:
U.S. Government-sponsored enterprises4,188 (383)14,103 (3,428)18,291 (3,811)7
Corporate bonds11,085 (253)— — 11,085 (253)5
Total investment securities available for sale$17,429 $(739)$24,992 $(4,286)$42,421 $(5,025)17
Investment securities held to maturity:
Corporate bonds$4,982 $(247)$— $— $4,982 $(247)4
Total investment securities held to maturity$4,982 $(247)$— $— $4,982 $(247)4
No investment securities were pledged as of June 30, 2023 or December 31, 2022, and there were no sales of investment securities during the three and six months ended June 30, 2023 or during the year ended December 31, 2022.