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FAIR VALUE (Tables) | 3 Months Ended
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Mar. 31, 2022
Fair Value Disclosures [Abstract] |
Schedule of Financial Assets (Liabilities) Measured at Fair Value | The following tables summarize quantitative disclosures about the fair value measurements for each category of financial assets (liabilities) carried at fair value:
March 31, 2022 |  | Fair Value |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Other Unobservable Inputs (Level 3) |
Assets at fair value on a recurring basis: |  |  |  |  |  |  |  |  |  |  |  |
Available for sale securities: |  |  |  |  |  |  |  |  |  |  |  |
Treasury securities |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Mortgage-backed securities |  |  | 197,892 |  |  |  | — |  |  |  | 197,892 |  |  |  | — |
Collateralized mortgage obligations |  |  | 65,035 |  |  |  | — |  |  |  | 65,035 |  |  |  | — |
Municipal securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Corporate bonds |  |  | 34,496 |  |  |  | — |  |  |  | 34,496 |  |  |  | — |
U.S. government agencies |  |  | 9,281 |  |  |  | — |  |  |  | 9,281 |  |  |  | — |
Loans held for sale |  |  | 1,166 |  |  |  | — |  |  |  | — |  |  |  | 1,166 |
Cash surrender value of life insurance |  |  | 37,352 |  |  |  | — |  |  |  | 37,352 |  |  |  | — |
SBA servicing assets |  |  | 1,004 |  |  |  | — |  |  |  | — |  |  |  | 1,004 |
Assets at fair value on a nonrecurring basis: |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated collateral dependent loans |  |  | 4,217 |  |  |  | — |  |  |  | — |  |  |  | 4,217 |
December 31, 2021 |  | Fair Value |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Other Unobservable Inputs (Level 3) |
Assets at fair value on a recurring basis: |  |  |  |  |  |  |  |  |  |  |  |
Available for sale securities: |  |  |  |  |  |  |  |  |  |  |  |
Mortgage-backed securities |  | $ | 221,308 |  |  | $ | — |  |  | $ | 221,308 |  |  | $ | — |
Collateralized mortgage obligations |  |  | 74,992 |  |  |  | — |  |  |  | 74,992 |  |  |  | — |
Municipal securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Corporate bonds |  |  | 35,935 |  |  |  | — |  |  |  | 35,935 |  |  |  | — |
U.S. government agencies |  |  | 9,971 |  |  |  | — |  |  |  | 9,971 |  |  |  | — |
Loans held for sale |  |  | 4,129 |  |  |  | — |  |  |  | — |  |  |  | 4,129 |
Cash surrender value of life insurance |  |  | 37,141 |  |  |  | — |  |  |  | 37,141 |  |  |  | — |
SBA servicing assets |  |  | 877 |  |  |  | — |  |  |  | — |  |  |  | 877 |
Derivative instrument assets |  |  | (196 | ) |  |  | — |  |  |  | (196 | ) |  |  | — |
Derivative instrument liabilities |  |  | 8 |  |  |  | — |  |  |  | 8 |  |  |  | — |
Assets at fair value on a nonrecurring basis: |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated collateral dependent loans |  |  | 4,244 |  |  |  | — |  |  |  | — |  |  |  | 4,244 |
Schedule of Individually Evaluated Collateral Dependent Loans at Fair Value | The following table presents information on individually evaluated collateral dependent loans as of March 31, 2022:
|  | Fair Value Measurements Using |  |  |  |
March 31, 2022 |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total Fair Value |
Commercial and industrial |  | $ | — |  |  | $ | — |  |  | $ | 475 |  |  | $ | 475 |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |
Construction and development |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Commercial real estate |  |  | — |  |  |  | — |  |  |  | 3,742 |  |  |  | 3,742 |
Total |  | $ | — |  |  | $ | — |  |  | $ | 4,217 |  |  | $ | 4,217 |
Schedule of Carrying Amounts And Estimated Fair Values of Financial Instruments | The carrying amounts and estimated fair values of financial instruments not previously discussed in this note, as of March 31, 2022 and December 31, 2021, are as follows:
|  | Fair value measurements as of March 31, 2022 using: |
|  | Carrying Amount |  |  | Level 1 Inputs |  |  | Level 2 Inputs |  |  | Level 3 Inputs |  |  | Total Fair Value |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash, due from banks, federal funds sold and interest-bearing deposits |  | $ | 222,091 |  |  | $ | 222,091 |  |  | $ | — |  |  | $ | — |  |  | $ | 222,091 |
Marketable securities held to maturity |  |  | 494,289 |  |  |  | — |  |  |  | 490,523 |  |  |  | — |  |  |  | 490,523 |
Loans, net |  |  | 1,983,449 |  |  |  | — |  |  |  | — |  |  |  | 1,951,997 |  |  |  | 1,951,997 |
Accrued interest receivable |  |  | 8,961 |  |  |  | — |  |  |  | 8,961 |  |  |  | — |  |  |  | 8,961 |
Nonmarketable equity securities |  |  | 12,513 |  |  |  | — |  |  |  | 12,513 |  |  |  | — |  |  |  | 12,513 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 2,797,410 |  |  | $ | 2,473,118 |  |  | $ | 324,626 |  |  | $ | — |  |  | $ | 2,797,744 |
Securities sold under repurchase agreements |  |  | 11,090 |  |  |  | — |  |  |  | 11,090 |  |  |  | — |  |  |  | 11,090 |
Accrued interest payable |  |  | 591 |  |  |  | — |  |  |  | 591 |  |  |  | — |  |  |  | 591 |
Federal Home Loan Bank advances |  |  | 7,500 |  |  |  | — |  |  |  | 7,494 |  |  |  | — |  |  |  | 7,494 |
Subordinated debt |  |  | 54,146 |  |  |  | — |  |  |  | 52,190 |  |  |  | — |  |  |  | 52,190 |
|  | Fair value measurements as of December 31, 2021 using: |
|  | Carrying Amount |  |  | Level 1 Inputs |  |  | Level 2 Inputs |  |  | Level 3 Inputs |  |  | Total Fair Value |
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash, due from banks, federal funds sold and interest-bearing deposits |  | $ | 499,605 |  |  | $ | 499,605 |  |  | $ | — |  |  | $ | — |  |  | $ | 499,605 |
Marketable securities held to maturity |  |  | 184,263 |  |  |  | — |  |  |  | 192,472 |  |  |  | — |  |  |  | 192,472 |
Loans, net |  |  | 1,876,076 |  |  |  | — |  |  |  | — |  |  |  | 1,883,756 |  |  |  | 1,883,756 |
Accrued interest receivable |  |  | 8,901 |  |  |  | — |  |  |  | 8,901 |  |  |  | — |  |  |  | 8,901 |
Nonmarketable equity securities |  |  | 15,344 |  |  |  | — |  |  |  | 15,344 |  |  |  | — |  |  |  | 15,344 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 2,670,827 |  |  | $ | 2,341,048 |  |  | $ | 330,356 |  |  | $ | — |  |  | $ | 2,671,404 |
Securities sold under repurchase agreements |  |  | 14,151 |  |  |  | — |  |  |  | 14,151 |  |  |  | — |  |  |  | 14,151 |
Accrued interest payable |  |  | 481 |  |  |  | — |  |  |  | 481 |  |  |  | — |  |  |  | 481 |
Federal Home Loan Bank advances |  |  | 47,500 |  |  |  | — |  |  |  | 47,501 |  |  |  | — |  |  |  | 47,501 |
Subordinated debt |  |  | 19,810 |  |  |  | — |  |  |  | 17,833 |  |  |  | — |  |  |  | 17,833 |

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=123874694&loc=SL7498348-110258 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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