MARKETABLE SECURITIES (Tables)

6 Months Ended

Jun. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Amortized Cost and Fair Value of Securities Available for Sale and Held to Maturity Securities

The following tables summarize the amortized cost and fair value of available for sale and held to maturity securities as of June 30, 2022 and December 31, 2021 and the corresponding amounts of gross unrealized gains and losses:

June 30, 2022	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Available for sale:
Corporate bonds	$	35,029	$	—	$	1,455	$	33,574
Municipal securities		9,500		10		62		9,448
Mortgage-backed securities		144,128		18		14,962		129,184
Collateralized mortgage obligations		25,256		17		1,384		23,889
Total available for sale	$	213,913	$	45	$	17,863	$	196,095
Held to maturity:
U.S. government agencies	$	9,066	$	—	$	1,181	$	7,885
Treasury securities		324,510		—		2,832		321,678
Municipal securities		196,262		518		8,446		188,334
Mortgage-backed securities		138,802		2		12,807		125,997
Collateralized mortgage obligations		44,750		—		6,147		38,603
Total held to maturity	$	713,390	$	520	$	31,413	$	682,497

December 31, 2021	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
Available for sale:
U.S. government agencies	$	10,013	$	—	$	42	$	9,971
Corporate bonds		35,080		940		85		35,935
Mortgage-backed securities		221,610		1,477		1,779		221,308
Collateralized mortgage obligations		74,925		971		904		74,992
Total available for sale	$	341,628	$	3,388	$	2,810	$	342,206
Held to maturity:
Municipal securities	$	181,310	$	8,364	$	118	$	189,556
Mortgage-backed securities		2,953		—		37		2,916
Total held to maturity	$	184,263	$	8,364	$	155	$	192,472

Schedule of Securities with Gross Unrealized Losses

Information pertaining to securities with gross unrealized losses as of June 30, 2022 and December 31, 2021, for which no allowance for credit losses has been recorded, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position is detailed in the following tables:

	Less Than 12 Months					12 Months or Longer					Total
June 30, 2022	Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value
Available for sale:
Corporate bonds	$	(1,455	)	$	33,574	$	—		$	—	$	(1,455	)	$	33,574
Municipal securities		(62	)		8,024		—			—		(62	)		8,024
Mortgage-backed securities		(12,272	)		113,242		(2,690	)		14,774		(14,962	)		128,016
Collateralized mortgage obligations		(1,384	)		22,706		—			—		(1,384	)		22,706
Total available for sale	$	(15,173	)	$	177,546	$	(2,690	)	$	14,774	$	(17,863	)	$	192,320
Held to maturity:
U.S. government agencies	$	(1,181	)	$	8,830	$	—		$	—	$	(1,181	)	$	8,830
Treasury securities		(2,832	)		321,678		—			—		(2,832	)		321,678
Municipal securities		(8,446	)		103,252		—			—		(8,446	)		103,252
Mortgage-backed securities		(11,834	)		104,888		(973	)		5,627		(12,807	)		110,515
Collateralized mortgage obligations		(6,147	)		43,104		—			—		(6,147	)		43,104
Total held to maturity	$	(30,440	)	$	581,752	$	(973	)	$	5,627	$	(31,413	)	$	587,379

	Less Than 12 Months					12 Months or Longer					Total
December 31, 2021	Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value		Gross Unrealized Losses			Estimated Fair Value
Available for sale:
U.S. government agencies	$	(42	)	$	9,971	$	—		$	—	$	(42	)	$	9,971
Corporate bonds		(85	)		11,418		—			—		(85	)		11,418
Mortgage-backed securities		(1,383	)		144,367		(396	)		11,317		(1,779	)		155,684
Collateralized mortgage obligations		(904	)		40,172		—			—		(904	)		40,172
Total available for sale	$	(2,414	)	$	205,928	$	(396	)	$	11,317	$	(2,810	)	$	217,245
Held to maturity:
Municipal securities	$	(37	)	$	7,772	$	(81	)	$	2,996	$	(118	)	$	10,768
Mortgage-backed securities		(37	)		2,916		—			—		(37	)		2,916
Total held to maturity	$	(74	)	$	10,688	$	(81	)	$	2,996	$	(155	)	$	13,684

Investments Classified by Contractual Maturity Date

The contractual maturities at June 30, 2022 of available for sale and held to maturity securities at carrying value and estimated fair value are shown below. The Company invests in mortgage-backed securities and collateralized mortgage obligations that have expected maturities that differ from their contractual maturities. These differences arise because borrowers and/or issuers may have the right to call or prepay their obligation with or without call or prepayment penalties.

	Available for Sale				Held to Maturity
June 30, 2022	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due within one year	$	—	$	—	$	276,151	$	274,879
Due after one year through five years		17,279		16,826		162,627		160,856
Due after five years through ten years		27,250		26,196		62,262		58,025
Due after ten years		—		—		28,798		24,137
Mortgage-backed securities		144,128		129,184		138,802		125,997
Collateralized mortgage obligations		25,256		23,889		44,750		38,603
Total securities	$	213,913	$	196,095	$	713,390	$	682,497