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MARKETABLE SECURITIES (Tables) | 12 Months Ended
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Dec. 31, 2023
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 December 31, 2023 and 2022 and the corresponding amounts of gross unrealized gains and losses:
December 31, 2023 |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 29,882 |  |  | $ | — |  |  | $ | 3,077 |  |  | $ | 26,805 |
Municipal securities |  |  | 2,322 |  |  |  | 182 |  |  |  | — |  |  |  | 2,504 |
Mortgage-backed securities |  |  | 164,419 |  |  |  | 1,014 |  |  |  | 15,621 |  |  |  | 149,812 |
Collateralized mortgage obligations |  |  | 18,757 |  |  |  | 19 |  |  |  | 1,702 |  |  |  | 17,074 |
Total available for sale |  | $ | 215,380 |  |  | $ | 1,215 |  |  | $ | 20,400 |  |  | $ | 196,195 |
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies |  | $ | 9,292 |  |  | $ | — |  |  | $ | 1,066 |  |  | $ | 8,226 |
Treasury securities |  |  | 69,432 |  |  |  | — |  |  |  | 1,038 |  |  |  | 68,394 |
Municipal securities |  |  | 168,175 |  |  |  | 923 |  |  |  | 6,123 |  |  |  | 162,975 |
Mortgage-backed securities |  |  | 119,872 |  |  |  | — |  |  |  | 15,105 |  |  |  | 104,767 |
Collateralized mortgage obligations |  |  | 37,437 |  |  |  | — |  |  |  | 7,276 |  |  |  | 30,161 |
Total held to maturity |  | $ | 404,208 |  |  | $ | 923 |  |  | $ | 30,608 |  |  | $ | 374,523 |
December 31, 2022 |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 29,964 |  |  | $ | — |  |  | $ | 2,177 |  |  | $ | 27,787 |
Municipal securities |  |  | 10,324 |  |  |  | 326 |  |  |  | 8 |  |  |  | 10,642 |
Mortgage-backed securities |  |  | 145,896 |  |  |  | 1 |  |  |  | 15,556 |  |  |  | 130,341 |
Collateralized mortgage obligations |  |  | 21,981 |  |  |  | 3 |  |  |  | 1,827 |  |  |  | 20,157 |
Total available for sale |  | $ | 208,165 |  |  | $ | 330 |  |  | $ | 19,568 |  |  | $ | 188,927 |
Held to maturity: |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agencies |  | $ | 9,141 |  |  | $ | — |  |  | $ | 1,259 |  |  | $ | 7,882 |
Treasury securities |  |  | 133,735 |  |  |  | — |  |  |  | 2,921 |  |  |  | 130,814 |
Municipal securities |  |  | 191,680 |  |  |  | 658 |  |  |  | 8,285 |  |  |  | 184,053 |
Mortgage-backed securities |  |  | 132,693 |  |  |  | — |  |  |  | 14,708 |  |  |  | 117,985 |
Collateralized mortgage obligations |  |  | 41,759 |  |  |  | — |  |  |  | 7,425 |  |  |  | 34,334 |
Total held to maturity |  | $ | 509,008 |  |  | $ | 658 |  |  | $ | 34,598 |  |  | $ | 475,068 |
Schedule of Securities with Gross Unrealized Losses | Information pertaining to available for sale securities with gross unrealized losses as of December 31, 2023 and 2022, 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 |
December 31, 2023 |  | Gross Unrealized Losses |  |  | Estimated Fair Value |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | — |  |  | $ | — |  |  | $ | (3,077 | ) |  | $ | 26,805 |  |  | $ | (3,077 | ) |  | $ | 26,805 |
Mortgage-backed securities |  |  | (742 | ) |  |  | 13,308 |  |  |  | (14,879 | ) |  |  | 101,889 |  |  |  | (15,621 | ) |  |  | 115,197 |
Collateralized mortgage obligations |  |  | — |  |  |  | — |  |  |  | (1,702 | ) |  |  | 13,976 |  |  |  | (1,702 | ) |  |  | 13,976 |
Total available for sale |  | $ | (742 | ) |  | $ | 13,308 |  |  | $ | (19,658 | ) |  | $ | 142,670 |  |  | $ | (20,400 | ) |  | $ | 155,978 |
|  | Less Than 12 Months |  |  | 12 Months or Longer |  |  | Total |
December 31, 2022 |  | Gross Unrealized Losses |  |  | Estimated Fair Value |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
Available for sale: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | (1,518 | ) |  | $ | 20,323 |  |  | $ | (659 | ) |  | $ | 7,464 |  |  | $ | (2,177 | ) |  | $ | 27,787 |
Municipal securities |  |  | (8 | ) |  |  | 1,659 |  |  |  | — |  |  |  | — |  |  |  | (8 | ) |  |  | 1,659 |
Mortgage-backed securities |  |  | (6,150 | ) |  |  | 74,146 |  |  |  | (9,406 | ) |  |  | 55,826 |  |  |  | (15,556 | ) |  |  | 129,972 |
Collateralized mortgage obligations |  |  | (908 | ) |  |  | 16,575 |  |  |  | (919 | ) |  |  | 3,411 |  |  |  | (1,827 | ) |  |  | 19,986 |
Total available for sale |  | $ | (8,584 | ) |  | $ | 112,703 |  |  | $ | (10,984 | ) |  | $ | 66,701 |  |  | $ | (19,568 | ) |  | $ | 179,404 |
Schedule of Proceeds from Sales of Available for Sale Securities and Associated Gains and Losses | Proceeds from the sales of available for sale securities and the associated gains and losses for the years ended December 31, 2023 and 2022 are listed below. There were no securities sold during the year ended December 31, 2021.
|  | 2023 |  |  | 2022 |  |  | 2021 |
Proceeds from sales |  | $ | 21,268 |  |  | $ | 26,130 |  |  | $ | — |
Gross gains |  |  | 184 |  |  |  | 234 |  |  |  | — |
Gross losses |  |  | (413 | ) |  |  | (62 | ) |  |  | — |
Investments Classified by Contractual Maturity Date | The contractual maturities at December 31, 2023 of available for sale and held to maturity securities at carrying value and estimated fair value are shown below. The Company invests in securities that may 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. Securities not due at a single maturity date are shown separately.
|  | Available for Sale |  |  | Held to Maturity |
December 31, 2023 |  | Amortized Cost |  |  | Estimated Fair Value |  |  | Amortized Cost |  |  | Estimated Fair Value |
Due within one year |  | $ | 2,003 |  |  | $ | 1,979 |  |  | $ | 47,009 |  |  | $ | 46,674 |
Due after one year through five years |  |  | 7,540 |  |  |  | 7,229 |  |  |  | 68,564 |  |  |  | 66,189 |
Due after five years through ten years |  |  | 22,661 |  |  |  | 20,101 |  |  |  | 79,950 |  |  |  | 77,878 |
Due after ten years |  |  | — |  |  |  | — |  |  |  | 51,376 |  |  |  | 48,854 |
Mortgage-backed securities |  |  | 164,419 |  |  |  | 149,812 |  |  |  | 119,872 |  |  |  | 104,767 |
Collateralized mortgage obligations |  |  | 18,757 |  |  |  | 17,074 |  |  |  | 37,437 |  |  |  | 30,161 |
Total securities |  | $ | 215,380 |  |  | $ | 196,195 |  |  | $ | 404,208 |  |  | $ | 374,523 |

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