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FAIR VALUE OF FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2022
Fair Value Disclosures [Abstract] |
Schedule of Carrying Amount, Estimated Fair Value, and Placement in the Fair Value Hierarchy | The carrying amount, estimated fair values, and placement in the fair value hierarchy of the Company’s financial instruments are as follows:
| Carrying |  | Estimated |  | Level
(dollars in thousands) | Amount |  | Fair Value |  | 1 |  | 2 |  | 3
December 31, 2022 |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |
Cash and short-term investments | $ | 80,678 |  |  | $ | 80,678 |  |  | $ | 80,678 |  |  | $ | — |  |  | $ | — |
Investment securities available for sale | 432,553 |  |  | 432,553 |  |  | — |  |  | 416,957 |  |  | 15,596 |
Investment securities held to maturity | 465,858 |  |  | 411,264 |  |  | — |  |  | 411,264 |  |  | — |
Other investments | 13,793 |  |  | 13,793 |  |  | — |  |  | 13,003 |  |  | 790 |
Loans held for sale | 17,743 |  |  | 17,743 |  |  | — |  |  | 17,743 |  |  | — |
Loans, net | 1,720,978 |  |  | 1,469,707 |  |  | — |  |  | — |  |  | 1,469,707 |
Liabilities |  |  |  |  |  |  |  |  |
Deposits | 2,490,997 |  |  | 2,489,481 |  |  | — |  |  | 2,489,481 |  |  | — |
Federal Home Loan Bank advances | 125,000 |  |  | 125,163 |  |  | — |  |  | 125,163 |  |  | — |
Other borrowed money | 78,352 |  |  | 69,930 |  |  | — |  |  | 69,930 |  |  | — |
December 31, 2021 |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |
Cash and short-term investments | $ | 197,232 |  |  | $ | 197,232 |  |  | $ | 197,232 |  |  | $ | — |  |  | $ | — |
Investment securities available for sale | 938,164 |  |  | 938,164 |  |  | 87,551 |  |  | 850,613 |  |  | — |
Other investments | 14,012 |  |  | 14,012 |  |  | 5,574 |  |  | 4,183 |  |  | 4,255 |
Loans held for sale | 38,150 |  |  | 38,150 |  |  | — |  |  | 38,150 |  |  | — |
Loans, net | 1,325,067 |  |  | 1,328,853 |  |  | — |  |  | — |  |  | 1,328,853 |
Liabilities |  |  |  |  |  |  |  |  |
Deposits | 2,374,608 |  |  | 2,375,385 |  |  | — |  |  | 2,375,385 |  |  | — |
Federal Home Loan Bank advances | 51,656 |  |  | 51,162 |  |  | — |  |  | 51,162 |  |  | — |
Other borrowed money | 36,792 |  |  | 36,796 |  |  | — |  |  | 36,796 |  |  | — |
Schedule of Assets Measured at Fair Value on a Recurring and Nonrecurring Basis | The table below includes only impaired loans with a specific reserve and only other real estate properties with a valuation allowance at December 31, 2022 and 2021. Those impaired loans and other real estate properties are shown net of the related specific reserves and valuation allowances.
|  |  | Fair Value Measurements at Reporting Date Using
(dollars in thousands) | Total Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
December 31, 2022 |  |  |  |  |  |  |
Nonrecurring |  |  |  |  |  |  |
Impaired loans | $ | 521 |  |  | $ | — |  |  | $ | — |  |  | $ | 521 |
Other real estate | 651 |  |  | — |  |  | — |  |  | 651 |
December 31, 2021 |  |  |  |  |  |  |
Nonrecurring |  |  |  |  |  |  |
Impaired loans | $ | 1,837 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,837 |
Other real estate | 281 |  |  | — |  |  | — |  |  | 281 |
Schedule of Fair Value Measurements Using Significant Unobservable Inputs | The following tables present quantitative information about the significant unobservable inputs used in the fair value measurements for assets in level 3 of the fair value hierarchy measured on a nonrecurring basis at December 31, 2022 and 2021. These tables are comprised primarily of collateral dependent impaired loans and other real estate owned:
(dollars in thousands) |  | December 31, 2022 |  | Valuation Techniques |  | Unobservable Inputs |  | Range Weighted Avg
Impaired Loans |  | $ | 521 |  |  | Appraised Value |  | Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell |  | 25 | % | - | 50%
Other Real Estate |  | $ | 651 |  |  | Appraised Value/ Comparable Sales |  | Discounts to reflect current market conditions and estimated costs to sell |  | 0 | % | - | 20%
|  | December 31, 2021 |  | Valuation Techniques |  | Unobservable Inputs |  | Range Weighted Avg
Impaired Loans |  | $ | 1,837 |  |  | Appraised Value |  | Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell |  | 25 | % | - | 100%
Other Real Estate |  | $ | 281 |  |  | Appraised Value/ Comparable Sales |  | Discounts to reflect current market conditions and estimated costs to sell |  | 0 | % | - | 20%
The following table presents quantitative information about recurring level 3 fair value measurements as of December 31, 2022.
|  | December 31, 2022
(dollars in thousands) |  | Fair Value |  | Valuation Techniques |  | Unobservable Inputs |  | Range (Weighted Avg)
Available for sale securities |  | $ | 15,596 |  |  | Discounted Cash Flow |  | Discount Rate or Yield |  | N/A*
Other investments |  | $ | 790 |  |  | Discounted Cash Flow |  | Discount Rate or Yield |  | N/A*
* The Company relies on a third-party pricing service to value its securities. The details of the unobservable inputs and other adjustments used by the third-party pricing service were not readily available to the Company.
Schedule of Reconciliation and Statement of Income Classification of Gains and Losses for All Assets Measured at Fair Value on a Recurring Basis | The following table presents a reconciliation and statement of income classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (level 3) for the year ended December 31, 2022 and 2021:
| Other Investments |  | Available for sale securities
(dollars in thousands) | 2022 |  | 2021 |  | 2022
Beginning balance | $ | 4,255 |  |  | $ | — |  |  | $ | — |
Additions | — |  |  | 4,107 |  |  | — |
Redemptions | (3,306) |  |  | — |  |  | — |
Total unrealized/realized gains included in earnings | (159) |  |  | 148 |  |  | — |
Transfer to Level 3 | — |  |  | — |  |  | 15,596 |
Ending balance | $ | 790 |  |  | $ | 4,255 |  |  | $ | 15,596 |

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