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FAIR VALUE (Tables)

6 Months Ended

Jun. 30, 2023

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:

June 30, 2023		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		$	121,440			$	—			$	121,440			$	—
Collateralized mortgage obligations			15,924				—				15,924				—
Municipal securities			2,442				—				2,442				—
Corporate bonds			26,790				—				26,790				—
Loans held for sale			795				—				—				795
Cash surrender value of life insurance			41,830				—				41,830				—
SBA servicing assets			782				—				—				782
Assets at fair value on a nonrecurring basis:
Individually evaluated collateral dependent loans			—				—				—				—

December 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:
Mortgage-backed securities		$	130,341			$	—			$	130,341			$	—
Collateralized mortgage obligations			20,157				—				20,157				—
Municipal securities			10,642				—				10,642				—
Corporate bonds			27,787				—				27,787				—
Loans held for sale			3,156				—				—				3,156
Cash surrender value of life insurance			38,404				—				38,404				—
SBA servicing assets			874				—				—				874
Assets at fair value on a nonrecurring basis:
Individually evaluated collateral dependent loans			—				—				—				—

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 June 30, 2023 and December 31, 2022, are as follows:

		Fair value measurements as of June 30, 2023 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		$	97,351			$	97,351			$	—			$	—			$	97,351
Marketable securities held to maturity			437,292				—				402,735				—				402,735
Loans, net			2,300,882				—				—				2,154,341				2,154,341
Accrued interest receivable			11,110				—				11,110				—				11,110
Nonmarketable equity securities			24,673				—				24,673				—				24,673
Financial liabilities:
Deposits		$	2,602,817			$	1,962,122			$	638,880			$	—			$	2,601,002
Securities sold under repurchase agreements			20,532				—				20,532				—				20,532
Accrued interest payable			4,211				—				4,211				—				4,211
Federal Home Loan Bank advances			195,000				—				194,871				—				194,871
Subordinated debt			47,719				—				48,357				—				48,357

		Fair value measurements as of December 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		$	106,467			$	106,467			$	—			$	—			$	106,467
Marketable securities held to maturity			509,008				—				475,068				—				475,068
Loans, net			2,344,245				—				—				2,217,606				2,217,606
Accrued interest receivable			11,555				—				11,555				—				11,555
Nonmarketable equity securities			25,585				—				25,585				—				25,585
Financial liabilities:
Deposits		$	2,681,154			$	2,326,615			$	351,981			$	—			$	2,678,596
Securities sold under repurchase agreements			7,221				—				7,221				—				7,221
Accrued interest payable			2,348				—				2,348				—				2,348
Federal Home Loan Bank advances			290,000				—				289,926				—				289,926
Subordinated debt			49,153				—				50,025				—				50,025

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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
-Name Accounting Standards Codification
-Section 50
-Paragraph 2C
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2C

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-3

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-11

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