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FAIR VALUE OF FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2024
Fair Value Disclosures [Abstract] |
Schedule of Carrying Amount, Estimated Fair Values, and Placement in 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, 2024 |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |
Cash and short-term investments | $ | 231,034 |  |  | $ | 231,034 |  |  | $ | 231,034 |  |  | $ | — |  |  | $ | — |
Investment securities available for sale | 366,049 |  |  | 366,049 |  |  | — |  |  | 357,128 |  |  | 8,921 |
Investment securities held to maturity | 430,077 |  |  | 383,020 |  |  | — |  |  | 383,020 |  |  | — |
Other investments | 17,694 |  |  | 17,694 |  |  | — |  |  | 17,694 |  |  | — |
Loans held for sale | 39,786 |  |  | 39,786 |  |  | — |  |  | 39,786 |  |  | — |
Loans, net | 1,824,000 |  |  | 1,703,487 |  |  | — |  |  | — |  |  | 1,703,487 |
Derivative assets | 784 |  |  | 784 |  |  | — |  |  | 784 |  |  | — |
Liabilities |  |  |  |  |  |  |  |  |
Deposits | 2,567,943 |  |  | 2,564,143 |  |  | — |  |  | 2,564,143 |  |  | — |
Federal Home Loan Bank advances | 185,000 |  |  | 186,468 |  |  | — |  |  | 186,468 |  |  | — |
Other borrowed money | 63,039 |  |  | 52,057 |  |  | — |  |  | 52,057 |  |  | — |
Derivative liabilities | 47 |  |  | 47 |  |  | — |  |  | 47 |  |  | — |
December 31, 2023 |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |
Cash and short-term investments | $ | 83,322 |  |  | $ | 83,322 |  |  | $ | 83,322 |  |  | $ | — |  |  | $ | — |
Investment securities available for sale | 407,382 |  |  | 407,382 |  |  | — |  |  | 396,568 |  |  | 10,814 |
Investment securities held to maturity | 449,031 |  |  | 405,576 |  |  |  |  | 405,576 |  |  | — |
Other investments, at cost | 16,868 |  |  | 16,868 |  |  | — |  |  | 16,868 |  |  | — |
Loans held for sale | 27,958 |  |  | 27,958 |  |  | — |  |  | 27,958 |  |  | — |
Loans, net | 1,865,099 |  |  | 1,699,870 |  |  | — |  |  | — |  |  | 1,699,870 |
Liabilities |  |  |  |  |  |  |  |  |
Deposits | 2,544,790 |  |  | 2,538,477 |  |  | — |  |  | 2,538,477 |  |  | — |
Federal Home Loan Bank advances | 175,000 |  |  | 176,022 |  |  | — |  |  | 176,022 |  |  | — |
Other borrowed money | 63,445 |  |  | 51,056 |  |  | — |  |  | 51,056 |  |  | — |
Derivative liabilities | 438 |  |  | 438 |  |  | — |  |  | 438 |  |  | — |
Schedule of Assets and Liabilities Measured at Fair Value on Recurring and Nonrecurring Basis | The following tables present the recorded amount of the Company’s assets and liabilities measured at fair value on a recurring and nonrecurring basis as of December 31, 2024 and 2023, aggregated by the level in the fair value hierarchy within which those measurements fall. The tables below include collateral dependent loans and other real estate properties at December 31, 2024 and 2023. Those collateral dependent 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 |  | (Level 1) |  | (Level 2) |  | (Level 3)
December 31, 2024 |  |  |  |  |  |  |
Recurring |  |  |  |  |  |  |
Investment securities available-for-sale |  |  |  |  |  |  |
U.S. treasury securities | $ | 3,173 |  |  | $ | — |  |  | $ | 3,173 |  |  | $ | — |
U.S. agency securities | 2,755 |  |  | — |  |  | 2,755 |  |  | — |
Asset backed securities | 17,824 |  |  | — |  |  | 17,824 |  |  | — |
State, county & municipal securities | 95,637 |  |  | — |  |  | 95,637 |  |  | — |
Corporate debt securities | 47,782 |  |  | — |  |  | 41,234 |  |  | 6,548 |
Mortgage-backed securities | 198,878 |  |  | — |  |  | 196,505 |  |  | 2,373 |
Total investment securities available-for-sale | 366,049 |  |  | — |  |  | 357,128 |  |  | 8,921 |
Loans held for sale | 39,786 |  |  | — |  |  | 39,786 |  |  | — |
Derivative assets | 784 |  |  | — |  |  | 784 |  |  | — |
Total recurring assets | $ | 406,619 |  |  | $ | — |  |  | $ | 397,698 |  |  | $ | 8,921 |
Derivative liabilities | $ | 47 |  |  | $ | — |  |  | $ | 1,054 |  |  | $ | — |
Total recurring liabilities | $ | 47 |  |  | $ | — |  |  | $ | 1,054 |  |  | $ | — |
Nonrecurring |  |  |  |  |  |  |
Collateral dependent loans | $ | 3,075 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,075 |
Other real estate owned | 202 |  |  | — |  |  | — |  |  | 202 |
Total nonrecurring assets | $ | 3,277 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,277 |
|  |  | Fair Value Measurements at Reporting Date Using
(dollars in thousands) | Total Fair Value |  | (Level 1) |  | (Level 2) |  | (Level 3)
December 31, 2023 |  |  |  |  |  |  |
Recurring |  |  |  |  |  |  |
Investment securities available-for-sale |  |  |  |  |  |  |
U.S. treasury securities | $ | 498 |  |  | $ | — |  |  | $ | 498 |  |  | $ | — |
U.S. agency securities | 4,139 |  |  | — |  |  | 4,139 |  |  | — |
Asset backed securities | 24,630 |  |  | — |  |  | 24,630 |  |  | — |
State, county & municipal securities | 109,036 |  |  | — |  |  | 109,036 |  |  | — |
Corporate debt securities | 47,390 |  |  | — |  |  | 40,465 |  |  | 6,925 |
Mortgage-backed securities | 221,689 |  |  | — |  |  | 217,800 |  |  | 3,889 |
Total investment securities available-for-sale | 407,382 |  |  | — |  |  | 396,568 |  |  | 10,814 |
Loans held for sale | 27,958 |  |  | — |  |  | 27,958 |  |  | — |
Total recurring assets | $ | 435,340 |  |  | $ | — |  |  | $ | 424,526 |  |  | $ | 10,814 |
Derivative liabilities | $ | 438 |  |  | $ | — |  |  | $ | 438 |  |  | $ | — |
Total recurring liabilities | $ | 438 |  |  | $ | — |  |  | $ | 438 |  |  | $ | — |
Nonrecurring |  |  |  |  |  |  |
Collateral dependent loans | $ | 1,410 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,410 |
Other real estate owned | 448 |  |  | — |  |  | — |  |  | 448 |
Total nonrecurring assets | $ | 1,858 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,858 |
Schedule of Quantitative Information About Fair Value Measurements for Assets in Level 3 | 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, 2024 and 2023. These tables are comprised primarily of collateral dependent impaired loans and other real estate owned:
(dollars in thousands) |  | December 31, 2024 |  | Valuation Techniques |  | Unobservable Inputs |  | Discount rate
Collateral dependent loans |  | $ | 3,075 |  |  | Appraised Value |  | Discounts to reflect estimated costs to sell |  | 10 | %
Other Real Estate |  | $ | 202 |  |  | Appraised Value/ Comparable Sales |  | Discounts to reflect current market conditions and estimated costs to sell |  | 10 | %
(dollars in thousands) |  | December 31, 2023 |  | Valuation Techniques |  | Unobservable Inputs |  | Discount rate
Collateral dependent loans |  | $ | 1,410 |  |  | Appraised Value |  | Discounts to reflect estimated costs to sell |  | 10 | %
Other Real Estate |  | $ | 448 |  |  | Appraised Value/ Comparable Sales |  | Discounts to reflect current market conditions and estimated costs to sell |  | 10 | %
The following tables present quantitative information about recurring level 3 fair value measurements as of December 31, 2024 and 2023.
|  | December 31, 2024
(dollars in thousands) |  | Fair Value |  | Valuation Techniques |  | Unobservable Inputs |  | Range (Weighted Avg)
Available for sale securities |  | $ | 8,921 |  |  | Discounted Cash Flow |  | Discount Rate or Yield |  | N/A
|  | December 31, 2023
(dollars in thousands) |  | Fair Value |  | Valuation Techniques |  | Unobservable Inputs |  | Range (Weighted Avg)
Available for sale securities |  | $ | 10,814 |  |  | Discounted Cash Flow |  | Discount Rate or Yield |  | N/A
Other investments |  | $ | — |  |  | Discounted Cash Flow |  | Discount Rate or Yield |  | N/A
Schedule of Reconciliation and Statement of Income Classification of Gains and Losses for Assets Measured at Fair Value on 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, 2024 and 2023:
| Available for sale securities |  | Other Investments
(dollars in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Beginning balance | $ | 10,814 |  |  | $ | 15,596 |  |  | $ | — |  |  | $ | 790 |
Additions | 2,588 |  |  | — |  |  | — |  |  | — |
Redemptions | (3,831) |  |  | (2,733) |  |  | — |  |  | (800) |
Total unrealized/realized gains (losses) included in earnings | 1,701 |  |  | (270) |  |  | — |  |  | 10 |
Transfers between levels | (2,351) |  |  | (1,779) |  |  | — |  |  | — |
Ending balance | $ | 8,921 |  |  | $ | 10,814 |  |  | $ | — |  |  | $ | — |

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