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FAIR VALUE ACCOUNTING (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Assets Measured on Recurring Basis

The following tables present the financial instruments measured at fair value on a recurring basis as of December 31, 2022 and December 31, 2021.

			Fair Value						Quoted Prices in Active Markets for Identical Instruments (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
December 31, 2022
Investment securities:
U.S. government agency obligations			$	18,313					$	—					$	18,313					$	—
Obligations of states and political subdivisions			—						—						—						—
Mortgage-backed securities			78,610						—						78,610						—
Corporate debt securities			40,251						—						40,251						—
Corporate asset-backed securities			28,817						—						28,817						—
Total investment securities			165,991						—						165,991						—
Equity investments:
Equity investments			338						338						—						—
Equity investments measured at NAV(1)			1,456						—						—						—
Total equity investments			1,794						338						—						—
Total			$	167,785					$	338					$	165,991					$	—
December 31, 2021
Investment securities:
U.S. government agency obligations			$	26,265					$	—					$	26,265					$	—
Obligations of states and political subdivisions			140						—						140						—
Mortgage-backed securities			107,167						—						107,167						—
Corporate debt securities			35,588						—						35,588						—
Corporate asset-backed securities			33,908						—						33,908						—
Total Investment Securities			203,068						—						203,068						—
Equity investments:
Equity investments			368						368						—						—
Equity investments measured at NAV(1)			960						—						—						—
Total equity investments			1,328						368						—						—
Total			$	204,396					$	368					$	203,068					$	—

(1) Investments valued at NAV are excluded from being reported under the fair value hierarchy but are presented to                         permit reconciliation with the balance sheet in accordance with ASC 820-10-35-54B.

Schedule of Assets Measured on Nonrecurring Basis

The following tables present the financial instruments measured at fair value on a nonrecurring basis as of December 31, 2022 and December 31, 2021:

			Carrying Value						Quoted Prices in Active Markets for Identical Instruments (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level  3)
December 31, 2022
Foreclosed and repossessed assets, net			$	1,271					$	—					$	—					$	1,271
Impaired loans with allocated allowances			6,920						—						—						6,920
Mortgage servicing rights			4,262						—						—						5,665
Total			$	12,453					$	—					$	—					$	13,856
December 31, 2021
Foreclosed and repossessed assets, net			$	1,408					$	—					$	—					$	1,408
Impaired loans with allocated allowances			5,580						—						—						5,580
Mortgage servicing rights			4,161						—						—						4,312
Total			$	11,149					$	—					$	—					$	11,300

Schedule of Assets Measured on Recurring and Nonrecurring Basis

The following table represents additional quantitative information about assets measured at fair value on a recurring and nonrecurring basis and for which we have utilized Level 3 inputs to determine their fair value at December 31, 2022 and December 31, 2021.

			Fair Value						Valuation Techniques (1)						Significant Unobservable Inputs (2)						Range
December 31, 2022
Foreclosed and repossessed assets, net			$	1,271					Appraisal value						Estimated costs to sell						10% - 15%
Impaired loans with allocated allowances			$	6,920					Appraisal value						Estimated costs to sell						10% - 15%
Mortgage servicing rights			$	5,665					Discounted cash flows						Discounted rates						9.5% - 12.5%
December 31, 2021
Foreclosed and repossessed assets, net			$	1,408					Appraisal value						Estimated costs to sell						10% - 15%
Impaired loans with allocated allowances			$	5,580					Appraisal value						Estimated costs to sell						10% - 15%
Mortgage servicing rights			$	4,312					Discounted cash flows						Discounted rates						9% - 12%

(1)     Fair value is generally determined through independent third-party appraisals of the underlying

    collateral, which generally includes various level 3 inputs which are not observable.

(2)     The fair value basis of impaired loans and real estate owned may be adjusted to reflect management

    estimates of disposal costs including, but not limited to, real estate brokerage commissions, legal fees,

    and delinquent property taxes.

Schedule of Carrying Amount and Estimated Fair Value of Financial Instruments

The carrying amount and estimated fair value of the Company’s financial instruments as of the dates indicated below were as follows:

						December 31, 2022												December 31, 2021
			Valuation Method Used			Carrying Amount						Estimated Fair Value						Carrying Amount						Estimated Fair Value
Financial assets:
Cash and cash equivalents			(Level I)			$	35,363					$	35,363					$	47,691					$	47,691
Other interest bearing deposits			(Level II)			249						250						1,511						1,535
Securities available for sale "AFS"			(Level II)			165,991						165,991						203,068						203,068
Securities held to maturity "HTM"			(Level II)			96,379						76,779						71,141						69,177
Equity investments			(Level I)			338						338						368						368
Equity investments valued at NAV (1)			N/A			1,456						1,456						960						960
Other investments			(Level II)			15,834						15,834						15,305						15,305
Loans receivable, net			(Level III)			1,393,845						1,342,838						1,294,050						1,319,293
Loans held for sale - Residential mortgage			(Level I)			—						—						1,224						1,250
Loans held for sale - SBA			(Level II)			—						—						5,446						5,776
Mortgage servicing rights			(Level III)			4,262						5,665						4,161						4,312
Accrued interest receivable			(Level I)			5,285						5,285						3,916						3,916
Financial liabilities:
Deposits			(Level III)			$	1,424,720					$	1,420,871					$	1,387,535					$	1,388,390
FHLB advances			(Level II)			142,530						141,060						111,527						113,285
Other borrowings			(Level I)			72,409						72,409						58,426						58,426
Accrued interest payable			(Level I)			968						968						586						586

(1) Investments valued at NAV are excluded from being reported under the fair value hierarchy but are presented to permit reconciliation with the balance sheet in accordance with ASC 820-10-35-54B.

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

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Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is 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.

+ References

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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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