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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 12 Months Ended
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Dec. 31, 2023
Accounting Policies [Abstract] |
Schedule of the Impact of the Adoption of CECL and the Transition Away from the Incurred Loss Method | The following table illustrates the impact of the adoption of CECL, and the transition away from the incurred loss method, on January 1, 2023. The impact to the ACL is presented at the loan segment level:
| January 1, 2023
| Reserves under Incurred Loss Model |  | Reserves under CECL Model |  | Impact of CECL Adoption
Financial Assets: |  |  |  |  |
Commercial loans: |  |  |  |  |
Commercial real estate | $ | 13,558 |  |  | $ | 16,415 |  |  | $ | 2,857 |
Acquisition and development | 3,214 |  |  | 3,000 |  |  | (214) |
Commercial and industrial | 4,505 |  |  | 5,433 |  |  | 928 |
Municipal | 24 |  |  | 193 |  |  | 169 |
Consumer loans: |  |  |  |  |
Residential mortgage | 3,444 |  |  | 2,323 |  |  | (1,121) |
Installment and other | 188 |  |  | 237 |  |  | 49 |
Unallocated reserve | 245 |  |  | — |  |  | (245) |
Allowance for credit losses on loans | $ | 25,178 |  |  | $ | 27,601 |  |  | $ | 2,423 |
Liabilities: |  |  |  |  |
Allowance for credit losses on off-balance sheet credit exposures | $ | 1,633 |  |  | $ | 1,733 |  |  | $ | 100 |

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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 -SubTopic 10 -Section 50 -Paragraph 1 -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 + Details
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