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ALLOWANCE FOR LOAN LOSSES (Tables)

12 Months Ended

Dec. 31, 2020

ALLOWANCE FOR LOAN LOSSES

Schedule of Allowance for loan losses for loan losses

The following table summarizes the Company’s allowance for loan losses and loan balances individually and collectively evaluated for impairment by loan product and collateral type as of or for the periods ending as indicated.


		Commercial			Construction			Commercial
		and industrial			and land			real estate			Residential			Consumer			Total
December 31, 2020
Allowance for loan losses
Beginning balance		$	1,788		$	167		$	5,004		$	427		$	14		$	7,400
Charge-offs			(199)			(20)			—			(1)			(17)			(237)
Recoveries			13			—			4			—			—			17
Provision for loan losses			2,440			231			6,203			1,430			16			10,320
Ending balance		$	4,042		$	378		$	11,211		$	1,856		$	13		$	17,500

Allowance for loan losses by methodology:
Loans individually evaluated for impairment		$	420		$	—		$	77		$	24		$	—		$	521
Loans collectively evaluated for impairment			3,515			378			11,134			1,832			13			16,872
PCI loans			107			—			—			—			—			107

Loans receivable by methodology:
Individually evaluated for impairment		$	848		$	36		$	6,140		$	2,195		$	—		$	9,219
Collectively evaluated for impairment			308,491			22,609			1,126,004			160,008			5,218			1,622,330
PCI loans			622			51			12,416			2,521			—			15,610
Total loans		$	309,961		$	22,696		$	1,144,560		$	164,724		$	5,218		$	1,647,159


		Commercial			Construction			Commercial
		and industrial			and land			real estate			Residential			Consumer			Total
December 31, 2019
Allowance for loan losses
Beginning balance		$	1,094		$	352		$	3,460		$	231		$	3		$	5,140
Charge-offs			—			—			(17)			(1)			(4)			(22)
Recoveries			57			—			—			1			—			58
Provision (reclassification) for loan losses		$	637			(185)			1,561			196			15			2,224
Ending balance			1,788		$	167		$	5,004		$	427		$	14		$	7,400

Allowance for loan losses by methodology:
Loans individually evaluated for impairment		$	171		$	-		$	-		$	-		$	-		$	171
Loans collectively evaluated for impairment			1,617			167			5,004			427			14			7,229
PCI loans			-			-			-			-			-			—

Loans receivable by methodology:
Individually evaluated for impairment		$	618		$	2,737		$	2,775		$	1,488		$	13		$	7,631
Collectively evaluated for impairment			168,129			33,361			1,076,262			152,818			2,547			1,433,117
PCI loans			544			223			14,105			2,458			2			17,332
Total loans		$	169,291		$	36,321		$	1,093,142		$	156,764		$	2,562		$	1,458,080