DEBT SECURITIES (Tables)

3 Months Ended

Mar. 31, 2024

DEBT SECURITIES

Schedule of securities available for sale and held to maturity

			Gross		Gross		Allowance
	Amortized		Unrealized		Unrealized		for Credit		Fair
	Cost		Gains		Losses		Losses		Value
	(in thousands)
March 31, 2024:
Securities available for sale
U.S. government and government-sponsored enterprise obligations	$	47,143	$	—	$	7,127	$	—	$	40,016
U.S. government agency and government-sponsored residential mortgage-backed securities		305,548		9		59,486		—		246,071
U.S. government-sponsored collateralized mortgage obligations		1,656		—		66		—		1,590
SBA asset-backed securities		1,607		—		90		—		1,517
Corporate bonds		2,000		—		186		—		1,814
Total securities available for sale	$	357,954	$	9	$	66,955	$	—	$	291,008
Securities held to maturity
U.S. government and government-sponsored enterprise obligations	$	15,000	$	—	$	477	$	—	$	14,523
SBA asset-backed securities		4,724		—		145		—		4,579
Total securities held to maturity	$	19,724	$	—	$	622	$	—	$	19,102

			Gross		Gross		Allowance
	Amortized		Unrealized		Unrealized		for Credit		Fair
	Cost		Gains		Losses		Losses		Value
	(in thousands)
December 31, 2023:
Securities available for sale
U.S. government and government-sponsored enterprise obligations	$	47,143	$	—	$	6,961	$	—	$	40,182
U.S. government agency and government-sponsored residential mortgage-backed securities		300,277		3		54,683		—		245,597
U.S. government-sponsored collateralized mortgage obligations		1,852		—		70		—		1,782
SBA asset-backed securities		1,885		—		107		—		1,778
Corporate bonds		1,000		—		188		—		812
Total securities available for sale	$	352,157	$	3	$	62,009	$	—	$	290,151
Securities held to maturity
U.S. government and government-sponsored enterprise obligations	$	15,000	$	—	$	438	$	—	$	14,562
SBA asset-backed securities		4,796		—		96		—		4,700
Total securities held to maturity	$	19,796	$	—	$	534	$	—	$	19,262

Schedule of debt securities by contractual maturity

	Available for Sale				Held to Maturity
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
	(in thousands)
After 1 year through 5 years	$	7,998	$	7,564	$	15,000	$	14,523
After 5 years through 10 years		41,145		34,266		—		—
		49,143		41,830		15,000		14,523
U.S. government agency and government-sponsored residential mortgage-backed securities		305,548		246,071		—		—
U.S. government-sponsored collateralized mortgage obligations		1,656		1,590		—		—
SBA asset-backed securities		1,607		1,517		4,724		4,579
Total	$	357,954	$	291,008	$	19,724	$	19,102

Schedule of securities with continuous losses

	Less Than Twelve Months				Twelve Months and Over
	Gross				Gross
	Unrealized		Fair		Unrealized		Fair
	Losses		Value		Losses		Value
	(in thousands)
March 31, 2024:
Securities available for sale
U.S. government and government-sponsored enterprise obligations	$	—	$	—	$	7,127	$	40,016
U.S. government agency and government-sponsored residential mortgage-backed securities		47		9,249		59,439		231,934
U.S. government-sponsored collateralized mortgage obligations		—		—		66		1,590
SBA asset-backed securities		—		—		90		1,517
Corporate bonds		—		—		186		814
	$	47	$	9,249	$	66,908	$	275,871
Securities held to maturity
U.S. government and government-sponsored enterprise obligations	$	—	$	—		477		14,523
SBA asset-backed securities		145		4,579		—		—
	$	145	$	4,579	$	477	$	14,523
December 31, 2023:
Securities available for sale
U.S. government and government-sponsored enterprise obligations	$	—	$	—	$	6,961	$	40,182
U.S. government agency and government-sponsored residential mortgage-backed securities		—		—		54,683		240,955
U.S. government-sponsored collateralized mortgage obligations		—		—		70		1,782
SBA asset-backed securities		—		—		107		1,778
Corporate bonds		—		—		188		812
	$	—	$	—	$	62,009	$	285,509
Securities held to maturity
U.S. government and government-sponsored enterprise obligations	$	—	$	—		438		14,562
SBA asset-backed securities		96		4,700		—		—
	$	96	$	4,700	$	438	$	14,562