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RECENT ACCOUNTING PRONOUNCEMENTS (Tables) | 9 Months Ended
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Sep. 30, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract] |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | The following table illustrates the impact of ASC 326:
| January 1, 2020
(dollars in thousands) | As Reported Under ASC 326 |  | Pre-ASC 326 Adoption |  | Impact of ASC 326 Adoption
Assets: |  |  |  |  |
Allowance for credit losses on loans: |  |  |  |  |
Commercial, financial & industrial | $ | (7,509) |  |  | $ | (8,136) |  |  | $ | 627 |
Real estate: |  |  |  |  |
Construction | (2,271) |  |  | (1,792) |  |  | (479) |
Residential mortgage | (13,935) |  |  | (13,327) |  |  | (608) |
Home equity | (2,592) |  |  | (4,206) |  |  | 1,614 |
Commercial mortgage | (13,737) |  |  | (11,113) |  |  | (2,624) |
Consumer | (11,493) |  |  | (9,397) |  |  | (2,096) |
Subtotal | $ | (51,537) |  |  | $ | (47,971) |  |  | $ | (3,566) |
Net deferred tax assets (included in other assets) | $ | 17,692 |  |  | $ | 16,541 |  |  | $ | 1,151 |
Liabilities: |  |  |  |  |
Reserve for off-balance sheet credit exposures (included in other liabilities) | $ | (2,012) |  |  | $ | (1,272) |  |  | $ | (740) |
Equity: |  |  |  |  |
Accumulated deficit | $ | 22,257 |  |  | $ | 19,102 |  |  | $ | 3,155 |

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