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SHORT-TERM BORROWINGS AND LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of short-term borrowings

A summary of the Bank's short-term borrowings as of December 31, 2024, 2023 and 2022 is as follows:

			Year Ended December 31,
(Dollars in thousands)			2024						2023						2022
Amount outstanding at December 31,			$	—					$	—					$	5,000
Average amount outstanding during year			17						23,322						37,211
Highest month-end balance during year			6,000						100,000						140,000
Weighted-average interest rate on balances outstanding at December 31,			—		%				—		%				4.60		%
Weighted-average interest rate during year			5.58		%				4.88		%				2.84		%

Schedule of long-term debt, based on original maturity

			December 31,
(Dollars in thousands)			2024						2023
FHLB advances			$	50,000					$	50,000
Subordinated debentures			51,547						51,547
Subordinated notes, net of unamortized debt issuance costs of $202 and $445			54,798						54,555
Total			$	156,345					$	156,102

As of December 31, 2024 and 2023, the Company had the following subordinated notes outstanding:

(Dollars in thousands)

December 31, 2024 and 2023

Name

Subordinated Notes

Interest Rate

October 2020 Private Placement

$

55,000

4.75% for the first five years. Resets quarterly thereafter to the then current three-month SOFR plus 456 basis points.

Schedule of future principal payments on long-term debt based on final maturity

At December 31, 2024, future principal payments on long-term debt based on redemption date or final maturity are as follows:

(Dollars in thousands)
Year Ending December 31:
2025			$	25,000
2026			—
2027			—
2028			25,000
2029			—
Thereafter			106,547
Total			$	156,547

Schedule of Subordinated Borrowing

As of December 31, 2024 and 2023, the Company had the following junior subordinated debentures outstanding:

(Dollars in thousands)

December 31, 2024 and 2023

December 31, 2024 and 2023

Name of Trust

Subordinated Debentures

Interest Rate

Trust IV

$

30,928

Three-month CME Term SOFR + tenor spread adjustment of 0.26% + 2.45%

Trust V

20,619

Three-month CME Term SOFR + tenor spread adjustment of 0.26% + 1.87%

Total

$

51,547

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Tabular disclosure of borrowings under subordinated debt agreements that qualify as available in computing net capital under SEC uniform net capital rules for broker-dealers, including restrictive covenants, collateral, interest rates and due dates, amounts due by date and amount owed in total.

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