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FAIR VALUE (Tables) | 9 Months Ended
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Sep. 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:
September 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 |  | $ | 132,141 |  |  | $ | — |  |  | $ | 132,141 |  |  | $ | — |
Collateralized mortgage obligations |  |  | 17,590 |  |  |  | — |  |  |  | 17,590 |  |  |  | — |
Municipal securities |  |  | 2,364 |  |  |  | — |  |  |  | 2,364 |  |  |  | — |
Corporate bonds |  |  | 26,549 |  |  |  | — |  |  |  | 26,549 |  |  |  | — |
Loans held for sale |  |  | 2,506 |  |  |  | — |  |  |  | — |  |  |  | 2,506 |
Cash surrender value of life insurance |  |  | 42,096 |  |  |  | — |  |  |  | 42,096 |  |  |  | — |
SBA servicing assets |  |  | 709 |  |  |  | — |  |  |  | — |  |  |  | 709 |
Assets at fair value on a nonrecurring basis: |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated collateral dependent loans |  |  | 14,527 |  |  |  | — |  |  |  | — |  |  |  | 14,527 |
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 Quantitative Information About Nonrecurring Level 3 Fair Value Measurements | The following table presents quantitative information about nonrecurring Level 3 fair value measurements as of December 31, 2022. T here were no nonrecurring level 3 fair value measurements requiring quantitative information as of September 30, 2023.
December 31, 2022 |  | Fair Value |  |  | Valuation Technique(s) |  | Unobservable Input(s) |  | Range (Weighted Average) |
Other real estate owned |  | $ | 38 |  |  | Appraisal value of collateral |  | Selling costs or other normal adjustments |  |  | 49 | %
Schedule of Individually Evaluated Collateral Dependent Loans at Fair Value | The following table presents information on individually evaluated collateral dependent loans included in the ACL model as of September 30, 2023. There were no individually evaluated collateral dependent loans included in the ACL model as of December 31, 2022.
|  | Fair Value Measurements Using |  |  |  |
September 30, 2023 |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total Fair Value |
Commercial real estate |  |  | — |  |  |  | — |  |  | $ | 14,527 |  |  | $ | 14,527 |
Total |  | $ | — |  |  | $ | — |  |  | $ | 14,527 |  |  | $ | 14,527 |
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 September 30, 2023 and December 31, 2022, are as follows:
|  | Fair value measurements as of September 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 |  | $ | 130,177 |  |  | $ | 130,177 |  |  | $ | — |  |  | $ | — |  |  | $ | 130,177 |
Marketable securities held to maturity |  |  | 408,308 |  |  |  | — |  |  |  | 367,691 |  |  |  | — |  |  |  | 367,691 |
Loans, net |  |  | 2,286,163 |  |  |  | — |  |  |  | — |  |  |  | 2,149,124 |  |  |  | 2,149,124 |
Accrued interest receivable |  |  | 11,307 |  |  |  | — |  |  |  | 11,307 |  |  |  | — |  |  |  | 11,307 |
Nonmarketable equity securities |  |  | 26,077 |  |  |  | — |  |  |  | 26,077 |  |  |  | — |  |  |  | 26,077 |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 2,658,293 |  |  | $ | 1,944,979 |  |  | $ | 712,856 |  |  | $ | — |  |  | $ | 2,657,835 |
Securities sold under repurchase agreements |  |  | 19,366 |  |  |  | — |  |  |  | 19,366 |  |  |  | — |  |  |  | 19,366 |
Accrued interest payable |  |  | 5,045 |  |  |  | — |  |  |  | 5,045 |  |  |  | — |  |  |  | 5,045 |
Federal Home Loan Bank advances |  |  | 175,000 |  |  |  | — |  |  |  | 174,872 |  |  |  | — |  |  |  | 174,872 |
Subordinated debt |  |  | 47,752 |  |  |  | — |  |  |  | 48,452 |  |  |  | — |  |  |  | 48,452 |
|  | 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 + Details
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