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SECURITIES (Tables)
9 Months Ended
Sep. 30, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Amortized Cost and Estimated Fair Value of Securities Available for Sale
The following tables present amortized cost and estimated fair value of securities available for sale as of September 30, 2024 and December 31, 2023 (in thousands):
 September 30, 2024
 Amortized CostGross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesEstimated Fair Value
U.S. Treasury notes and bonds$59,863 $— $2,839 $— $57,024 
Mortgage-backed securities, residential445,965 23 60,595 — 385,393 
Obligations of states and political subdivisions37,668 — 759 — 36,909 
Corporate bonds and notes25,750 — 4,285 — 21,465 
SBA loan pools55,709 54 1,979 — 53,784 
Total$624,955 $77 $70,457 $— $554,575 
 December 31, 2023
 Amortized CostGross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesEstimated Fair Value
U.S. Treasury notes and bonds$59,812 $— $4,480 $— $55,332 
Mortgage-backed securities, residential476,240 72,422 — 403,824 
Obligations of states and political subdivisions39,503 — 817 — 38,686 
Corporate bonds and notes25,750 — 5,081 — 20,669 
SBA loan pools67,787 75 2,380 — 65,482 
Total$669,092 $81 $85,180 $— $583,993 
Schedule of Amortized Cost and Estimated Fair Value of Securities Held to Maturity
The following tables present amortized cost and estimated fair value of securities held to maturity as of September 30, 2024 and December 31, 2023 (in thousands):
 September 30, 2024
 Amortized CostUnrecognized GainsUnrecognized LossesEstimated Fair ValueAllowance for Credit Losses
Obligations of states and political subdivisions$657 $— $— $657 $— 

 December 31, 2023
 Amortized CostUnrecognized GainsUnrecognized LossesEstimated Fair ValueAllowance for Credit Losses
Obligations of states and political subdivisions$785 $— $— $785 $— 
Schedule of Amortized Cost and Estimated Fair Value of Debt Securities by Contractual Maturity
The amortized cost and estimated fair value of debt securities are shown below by expected maturity (in thousands). Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately.
September 30, 2024
Available for SaleHeld to Maturity
Amortized
Cost
Fair
Value
Amortized
Cost
Fair
Value
Within one year$22,027 $21,732 $— $— 
After one, but within five years83,325 78,647 97 97 
After five, but within ten years17,779 14,875 560 560 
After ten years150 144 — — 
123,281 115,398 657 657 
Mortgage-backed securities, residential445,965 385,393 — — 
SBA loan pools55,709 53,784 — — 
Total$624,955 $554,575 $657 $657 
Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value
The following tables summarize the investment securities available for sale with unrealized losses as of September 30, 2024 and December 31, 2023 by aggregated major security type and length of time in a continuous unrealized loss position (in thousands):
 Less than 12 months12 months or longerTotal
September 30, 2024Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasury notes and bonds$— $— $57,024 $2,839 $57,024 $2,839 
Mortgage-backed securities, residential— — 383,865 60,595 383,865 60,595 
Obligations of states and political subdivisions— — 36,474 759 36,474 759 
Corporate bonds and notes1,921 79 19,544 4,206 21,465 4,285 
SBA loan pools— — 48,507 1,979 48,507 1,979 
Total$1,921 $79 $545,414 $70,378 $547,335 $70,457 

 Less than 12 months12 months or longerTotal
December 31, 2023Fair ValueUnrealized LossesFair ValueUnrealized LossesFair ValueUnrealized Losses
U.S. Treasury notes and bonds$— $— $55,332 $4,480 $55,332 $4,480 
Mortgage-backed securities, residential— — 402,986 72,422 402,986 72,422 
Obligations of states and political subdivisions17,891 241 20,686 576 38,577 817 
Corporate bonds and notes7,492 2,508 13,177 2,573 20,669 5,081 
SBA loan pools3,914 13 54,468 2,367 58,382 2,380 
Total$29,297 $2,762 $546,649 $82,418 $575,946 $85,180