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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Impact of ASC 326 on the allowance for credit losses

The following table illustrates the impact of ASC 326 on the allowance for credit losses:

			January 1, 2023
(dollars in thousands)			Pre-ASC 326 Adoption						Impact of ASC 326 Adoption						As Reported under ASC 326
Assets:
Allowance for credit losses on loans
Commercial and industrial			$	3,279					$	(822)					$	2,457
Commercial real estate - owner occupied			1,193						587						1,780
Commercial real estate - non-owner occupied			6,721						501						7,222
Construction and land development			4,223						1,969						6,192
Multi-family			1,472						85						1,557
One-to-four family residential			1,759						797						2,556
Agricultural and farmland			796						1,567						2,363
Municipal, consumer, and other			5,890						2,299						8,189
Allowance for credit losses on loans			$	25,333					$	6,983					$	32,316
Liabilities:
Allowance for credit losses on unfunded commitments			$	—					$	2,899					$	2,899

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- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482989/270-10-45-12

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482989/270-10-45-13

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