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MARKETABLE SECURITIES (Tables)

6 Months Ended

Jun. 30, 2021

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 securities available for sale as of June 30, 2021 and as of December 31, 2020 and the corresponding amounts of gross unrealized gains and losses:

June 30, 2021		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
Available for sale:
U.S. government agencies		$	10,014			$	134			$	—			$	10,148
Corporate bonds			39,153				1,356				78				40,431
Municipal securities			162,219				9,634				40				171,813
Mortgage-backed securities			155,970				2,140				794				157,316
Collateralized mortgage obligations			65,282				1,660				14				66,928
Total available for sale		$	432,638			$	14,924			$	926			$	446,636

December 31, 2020		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Estimated Fair Value
Available for sale:
Corporate bonds		$	29,608			$	1,382			$	8			$	30,982
Municipal securities			164,668				11,036				—				175,704
Mortgage-backed securities			104,210				3,041				87				107,164
Collateralized mortgage obligations			64,611				2,335				1				66,945
Total available for sale		$	363,097			$	17,794			$	96			$	380,795

Schedule of Securities with Gross Unrealized Losses

Information pertaining to securities with gross unrealized losses as of June 30, 2021 and December 31, 2020, 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, 2021		Gross Unrealized Losses				Estimated Fair Value				Gross Unrealized Losses				Estimated Fair Value				Gross Unrealized Losses				Estimated Fair Value
Available for sale:
Corporate bonds		$	(78	)		$	7,708			$	—			$	—			$	(78	)		$	7,708
Municipal securities			(40	)			4,486				—				—				(40	)			4,486
Mortgage-backed securities			(794	)			81,619				—				—				(794	)			81,619
Collateralized mortgage obligations			(14	)			3,549				—				—				(14	)			3,549
Total available for sale		$	(926	)		$	97,362			$	—			$	—			$	(926	)		$	97,362

		Less Than 12 Months								12 Months or Longer								Total
December 31, 2020		Gross Unrealized Losses				Estimated Fair Value				Gross Unrealized Losses				Estimated Fair Value				Gross Unrealized Losses				Estimated Fair Value
Available for sale:
Corporate bonds		$	(8	)		$	2,493			$	—			$	—			$	(8	)		$	2,493
Mortgage-backed securities			(87	)			25,775				—				—				(87	)			25,775
Collateralized mortgage obligations			—				—				(1	)			106				(1	)			106
Total available for sale		$	(95	)		$	28,268			$	(1	)		$	106			$	(96	)		$	28,374

Investments Classified by Contractual Maturity Date

The contractual maturities at June 30, 2021 of available for sale 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
June 30, 2021		Amortized Cost				Estimated Fair Value
Due within one year		$	2,817			$	2,850
Due after one year through five years			54,849				57,225
Due after five years through ten years			78,842				82,309
Due after ten years			74,878				80,008
Mortgage-backed securities			155,970				157,316
Collateralized mortgage obligations			65,282				66,928
Total Securities		$	432,638			$	446,636

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- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

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Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

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For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27290-111563

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