0001628280-22-014995 | S-4/A | XBRL Viewer | Southern States Bancshares INC

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COVER	12 Months Ended
COVER	Dec. 31, 2021
Cover [Abstract]
Document Type	S-4/A
Entity Registrant Name	Southern States Bancshares, Inc.
Entity Incorporation, State or Country Code	AL
Entity Primary SIC Number	6022
Entity Tax Identification Number	26-2518085
Entity Address, Address Line One	615 Quintard Ave.
Entity Address, City or Town	Anniston
Entity Address, State or Province	AL
Entity Address, Postal Zip Code	36201
City Area Code	256
Local Phone Number	241-1092
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Central Index Key	0001689731
Amendment Flag	true
Amendment Description	Amendment No. 1

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and due from banks	$ 22,851	$ 6,397		$ 23,229
Interest-bearing deposits in banks	111,951	203,537		51,503
Federal funds sold	74,022	74,022		10,175
Total cash and cash equivalents	208,824	283,956		84,907
Securities available for sale, at fair value	151,027	132,172		114,001
Securities held to maturity, at amortized cost	19,667	19,672		0
Other equity securities, at fair value	8,937	9,232		5,017
Restricted equity securities, at cost	2,825	2,600		3,224
Loans held for sale	2,509	2,400		5,696
Loans, net of unearned income	1,310,070	1,250,300		1,030,115
Less allowance for loan losses	15,492	14,844	$ 12,605	11,859	$ 9,265
Loans, net	1,294,578	1,235,456		1,018,256
Premises and equipment, net	28,065	27,044		24,426
Accrued interest receivable	4,427	4,170		4,243
Bank owned life insurance	29,343	22,201		22,458
Annuities	15,523	12,888		12,903
Foreclosed assets	2,930	2,930		10,224	7,042
Goodwill	16,862	16,862		16,862
Core deposit intangible	1,434	1,500		1,764
Other assets	11,883	9,509		8,525
Total assets	1,798,834	1,782,592		1,332,506
Deposits:
Noninterest-bearing	515,110	541,546		290,867
Interest-bearing	1,026,729	1,014,905		848,794
Total deposits	1,541,839	1,556,451		1,139,661
Other borrowings	0	12,498		7,975
FHLB advances	25,950	25,950		30,900
Subordinated notes	47,154	0		4,493
Accrued interest payable	107	132		278
Other liabilities	14,595	10,363		8,543
Total liabilities	1,629,645	1,605,394		1,191,850
Stockholders' equity:
Preferred stock, $0.01 par value, 1,000,000 shares authorized; 0 shares issued and outstanding at December 31, 2021 and December 31, 2020	0	0		0
Common stock, $5 par value, 30,000,000 shares authorized; 9,012,857 and 7,678,195 shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively	43,749	45,064		38,391
Capital surplus	76,426	80,640		65,327
Retained earnings	53,604	49,858		34,183
Accumulated other comprehensive income	(3,755)	2,113		3,194
Unvested restricted stock	(835)	(477)		(439)
Total stockholders' equity	169,189	177,198		140,656	$ 126,637
Total liabilities and stockholders' equity	$ 1,798,834	$ 1,782,592		$ 1,332,506

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Preferred stock authorized (in shares)	1,000,000	1,000,000	1,000,000
Preferred stock outstanding (in shares)	0	0	0
Preferred stock issued (in shares)	0	0	0
Common stock, par value (in dollars per share)	$ 5	$ 5	$ 5
Common stock authorized (in shares)	30,000,000	30,000,000	30,000,000
Common stock outstanding (in shares)	8,749,878	9,012,857	7,678,195
Common stock issued (in shares)	8,749,878	9,012,857	7,678,195

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Loans, including fees	$ 54,709	$ 47,786
Taxable securities	1,593	1,317
Nontaxable securities	1,023	643
Other interest and dividends	452	539
Total interest income	57,777	50,285
Interest expense:
Deposits	4,310	7,854
Other borrowings	554	854
Total interest expense	4,864	8,708
Net interest income	52,913	41,577
Provision for loan losses	2,982	3,300
Net interest income after provision for loan losses	49,931	38,277
Noninterest income:
Service charges on deposit accounts	1,528	1,458
Swap fees	931	1,405
SBA/USDA fees	3,968	756
Mortgage origination fees	1,465	1,529
Net gain (loss) on securities	(57)	742
Other operating income	2,968	2,651
Total noninterest income	10,803	8,541
Noninterest expenses:
Salaries and employee benefits	21,667	18,765
Equipment and occupancy expenses	3,640	3,682
Data processing fees	2,128	1,836
Regulatory assessments	952	775
Other operating expenses	8,048	7,127
Total noninterest expenses	36,435	32,185
Income before income taxes	24,299	14,633
Income tax expense	5,732	2,526
Net income	$ 18,567	$ 12,107
Basic earnings per share (in dollars per share)	$ 2.26	$ 1.58
Dilutive earnings per share (in dollars per share)	$ 2.23	$ 1.56
Revenue, Product and Service [Extensible Enumeration]	Deposit Account [Member]	Deposit Account [Member]

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 4,557	$ 5,681	$ 18,567	$ 12,107
Other comprehensive income (loss):
Unrealized holding (losses) gains on securities available for sale arising during the period, net of benefit (tax) of $426 and ($1,122), respectively	(5,868)	(1,546)	(1,214)	3,478
Reclassification adjustment for losses (gains) on securities available for sale realized in net income, net of benefit (tax) of $47 and ($193), respectively	0	161	133	(549)
Other comprehensive income (loss)	(5,868)	(1,385)	(1,081)	2,929
Comprehensive income	$ (1,311)	$ 4,296	$ 17,486	$ 15,036

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Unrealized holding gains on securities available for sale arising during the period, tax	$ (2,062)	$ (543)	$ 426	$ (1,122)
Reclassification adjustment for losses (gains) on securities available for sale realized in net income, benefit (tax)	$ 0	$ 56	$ 47	$ (193)

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	IPO	Preferred Stock	Common Stock	Common Stock IPO	Capital Surplus	Capital Surplus IPO	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Unvested Restricted Stock
Beginning balance at Dec. 31, 2019	$ 126,637		$ 0	$ 38,254		$ 64,592		$ 23,918	$ 265
Beginning balance (in shares) at Dec. 31, 2019			0	7,651
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	12,107							12,107
Issuance of common stock (in shares)				3,822
Issuance of common stock	$ 76			$ 19		57
Exercise of common stock options (in shares)	1,000,000			1,000
Exercise of common stock options	$ 10			$ 5		5
Issuance of restricted stock (in shares)				22,869
Issuance of restricted stock	0			$ 114		328				$ (442)
Forfeiture of restricted stock (in shares)				(268)
Forfeiture of restricted stock	0			$ (1)		(4)				5
Stock-based compensation	739					349
Common stock dividends paid	(1,842)							(1,842)
Other comprehensive income (loss)	2,929								2,929
Ending balance (in shares) at Dec. 31, 2020			0	7,678,195
Ending balance at Dec. 31, 2020	140,656		$ 0	$ 38,391		65,327		34,183	3,194	(439)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	18,567							18,567
Issuance of common stock (in shares)				8,240	1,296,429
Issuance of common stock	165	$ 24,632		$ 41	$ 6,482	124	$ 18,150
Issuance of common stock - IPO cost	$ (3,674)					(3,674)
Exercise of common stock options (in shares)	10,000,000			5,008
Exercise of common stock options	$ 0			$ 25		(25)
Issuance of restricted stock (in shares)				24,985
Issuance of restricted stock	0			$ 125		376				(501)
Stock-based compensation	825					362
Common stock dividends paid	(2,892)							(2,892)
Other comprehensive income (loss)	(1,081)								(1,081)
Ending balance (in shares) at Dec. 31, 2021			0	9,012,857
Ending balance at Dec. 31, 2021	177,198		$ 0	$ 45,064		80,640		49,858	2,113	(477)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	4,557							4,557
Issuance of restricted stock (in shares)				24,265
Issuance of restricted stock	0			$ 121		379				(500)
Stock-based compensation	245					103				142
Common stock dividends paid	(811)							(811)
Other comprehensive income (loss)	(5,868)								(5,868)
Ending balance (in shares) at Mar. 31, 2022			0	8,749,878
Ending balance at Mar. 31, 2022	$ 169,189		$ 0	$ 43,749		$ 76,426		$ 53,604	$ (3,755)	$ (835)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
OPERATING ACTIVITIES
Net income	$ 18,567	$ 12,107
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and software amortization	1,888	1,956
Net loss (gain) on securities	57	(742)
Net amortization of securities	957	605
Amortization of core deposit intangible	264	264
Provision for loan losses	2,982	3,300
Deferred income taxes	(973)	(1,587)
(Gain) loss on sale of foreclosed assets	207	(76)
Write-down of foreclosed assets	0	920
Loss on sale of premises, equipment and software	0	15
Stock-based compensation	825	739
Net decrease (increase) in loans held for sale	3,296	(3,118)
Income from bank owned life insurance	(497)	(528)
Decrease (increase) in interest receivable	73	(1,256)
Decrease in interest payable	(146)	(195)
Net other operating activities	2,203	(950)
Net cash provided by operating activities	29,703	11,454
INVESTING ACTIVITIES
Purchase of securities available for sale	(67,887)	(85,255)
Purchase of other equity securities	(9,000)	(5,007)
Proceeds from sale of securities available for sale	15,759	26,185
Proceeds from sale of other equity securities	4,995	0
Proceeds from maturities, calls, and paydowns of securities available for sale	11,601	9,111
Net redemption (purchase) of restricted equity securities	624	(1,213)
Net increase in loans	(220,282)	(199,324)
Proceeds from sale of foreclosed assets	7,187	1,554
Proceeds from bank owned life insurance	755	148
Proceeds from sale of premises, equipment and software	0	376
Purchase of premises, equipment and software	(4,507)	(6,648)
Net cash used in investing activities	(260,755)	(260,073)
FINANCING ACTIVITIES
Net increase in deposits	416,790	189,147
Net proceeds from issuance of common stock in connection with IPO	20,958	0
Proceeds from issuance of common stock	165	86
Net (repayment) proceeds of other borrowings	(4,920)	30,900
Net proceeds of note payable	4,500	0
Repayment of subordinated notes	(4,500)	0
Common stock dividends paid	(2,892)	(1,842)
Net cash provided by financing activities	430,101	218,291
Net increase (decrease) in cash and cash equivalents	199,049	(30,328)
Cash and cash equivalents at beginning of year	84,907	115,235
Cash and cash equivalents at end of year	283,956	84,907
Cash paid during the year for:
Interest	5,010	8,903
Income taxes	7,082	4,304
NONCASH TRANSACTIONS
Transfers of loans to foreclosed assets	100	10,300
Internally financed sales of foreclosed assets	0	4,356
Transfer of state and municipal available for sale securities to held to maturity securities	$ 19,684	$ 0

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and due from banks	$ 22,851	$ 6,397		$ 23,229
Interest-bearing deposits in banks	111,951	203,537		51,503
Federal funds sold	74,022	74,022		10,175
Total cash and cash equivalents	208,824	283,956		84,907
Securities available for sale, at fair value	151,027	132,172		114,001
Securities held to maturity, at amortized cost	19,667	19,672		0
Other equity securities, at fair value	8,937	9,232		5,017
Restricted equity securities, at cost	2,825	2,600		3,224
Loans held for sale	2,509	2,400		5,696
Loans, net of unearned income	1,310,070	1,250,300		1,030,115
Less allowance for loan losses	15,492	14,844	$ 12,605	11,859	$ 9,265
Loans, net	1,294,578	1,235,456		1,018,256
Premises and equipment, net	28,065	27,044		24,426
Accrued interest receivable	4,427	4,170		4,243
Bank owned life insurance	29,343	22,201		22,458
Annuities	15,523	12,888		12,903
Foreclosed assets	2,930	2,930		10,224	7,042
Goodwill	16,862	16,862		16,862
Core deposit intangible	1,434	1,500		1,764
Other assets	11,883	9,509		8,525
Total assets	1,798,834	1,782,592		1,332,506
Deposits:
Noninterest-bearing	515,110	541,546		290,867
Interest-bearing	1,026,729	1,014,905		848,794
Total deposits	1,541,839	1,556,451		1,139,661
Other borrowings	0	12,498		7,975
FHLB advances	25,950	25,950		30,900
Subordinated notes	47,154	0		4,493
Accrued interest payable	107	132		278
Other liabilities	14,595	10,363		8,543
Total liabilities	1,629,645	1,605,394		1,191,850
Stockholders' equity:
Preferred stock, $0.01 par value, 1,000,000 shares authorized; 0 shares issued and outstanding at December 31, 2021 and December 31, 2020	0	0		0
Common stock, $5 par value, 30,000,000 shares authorized; 9,012,857 and 7,678,195 shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively	43,749	45,064		38,391
Capital surplus	76,426	80,640		65,327
Retained earnings	53,604	49,858		34,183
Accumulated other comprehensive income	(3,755)	2,113		3,194
Unvested restricted stock	(835)	(477)		(439)
Total stockholders' equity	169,189	177,198		140,656	$ 126,637
Total liabilities and stockholders' equity	$ 1,798,834	$ 1,782,592		$ 1,332,506

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Preferred stock authorized (in shares)	1,000,000	1,000,000	1,000,000
Preferred stock outstanding (in shares)	0	0	0
Preferred stock issued (in shares)	0	0	0
Common stock, par value (in dollars per share)	$ 5	$ 5	$ 5
Common stock authorized (in shares)	30,000,000	30,000,000	30,000,000
Common stock outstanding (in shares)	8,749,878	9,012,857	7,678,195
Common stock issued (in shares)	8,749,878	9,012,857	7,678,195

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Loans, including fees	$ 14,766	$ 13,021
Taxable securities	619	401
Nontaxable securities	299	207
Other interest and dividends	188	48
Total interest income	15,872	13,677
Interest expense:
Deposits	873	1,190
Other borrowings	345	203
Total interest expense	1,218	1,393
Net interest income	14,654	12,284
Provision for loan losses	700	750
Net interest income after provision for loan losses	13,954	11,534
Noninterest income:
Service charges on deposit accounts	445	360
Swap fees	15	558
SBA/USDA fees	388	2,865
Mortgage origination fees	286	407
Net gain (loss) on securities	(361)	(232)
Other operating income	560	538
Total noninterest income	1,333	4,496
Noninterest expenses:
Salaries and employee benefits	5,725	5,057
Equipment and occupancy expenses	705	879
Data processing fees	564	514
Regulatory assessments	263	221
Other operating expenses	2,033	1,861
Total noninterest expenses	9,290	8,532
Income before income taxes	5,997	7,498
Income tax expense	1,440	1,817
Net income	$ 4,557	$ 5,681
Basic earnings per share (in dollars per share)	$ 0.51	$ 0.74
Dilutive earnings per share (in dollars per share)	$ 0.50	$ 0.73

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 4,557	$ 5,681	$ 18,567	$ 12,107
Other comprehensive income (loss):
Unrealized holding (losses) gains on securities available for sale arising during the period, net of benefit (tax) of $426 and ($1,122), respectively	(5,868)	(1,546)	(1,214)	3,478
Reclassification adjustment for losses (gains) on securities available for sale realized in net income, net of benefit (tax) of $47 and ($193), respectively	0	161	133	(549)
Other comprehensive income (loss)	(5,868)	(1,385)	(1,081)	2,929
Comprehensive income	$ (1,311)	$ 4,296	$ 17,486	$ 15,036

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Unrealized holding gains on securities available for sale arising during the period, tax	$ 2,062	$ 543	$ (426)	$ 1,122
Reclassification adjustment for losses (gains) on securities available for sale realized in net income, benefit (tax)	$ 0	$ 56	$ 47	$ (193)

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Capital Surplus	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Unvested Restricted Stock
Beginning balance (in shares) at Dec. 31, 2019		0	7,651
Beginning balance at Dec. 31, 2019	$ 126,637	$ 0	$ 38,254	$ 64,592	$ 23,918	$ 265
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	12,107				12,107
Issuance of restricted stock (in shares)			22,869
Issuance of restricted stock	0		$ 114	328			$ (442)
Stock-based compensation	739			349
Common stock dividends paid	(1,842)				(1,842)
Other comprehensive income (loss)	2,929					2,929
Ending balance (in shares) at Dec. 31, 2020		0	7,678,195
Ending balance at Dec. 31, 2020	140,656	$ 0	$ 38,391	65,327	34,183	3,194	(439)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	18,567				18,567
Issuance of restricted stock (in shares)			24,985
Issuance of restricted stock	0		$ 125	376			(501)
Stock-based compensation	825			362
Common stock dividends paid	(2,892)				(2,892)
Other comprehensive income (loss)	(1,081)					(1,081)
Ending balance (in shares) at Dec. 31, 2021		0	9,012,857
Ending balance at Dec. 31, 2021	177,198	$ 0	$ 45,064	80,640	49,858	2,113	(477)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	4,557				4,557
Issuance of restricted stock (in shares)			24,265
Issuance of restricted stock	0		$ 121	379			(500)
Repurchase of common stock under the stock repurchase program (in shares)			(287,244)
Repurchase of common stock under the stock repurchase program	(6,132)		$ (1,436)	(4,696)
Stock-based compensation	245			103			142
Common stock dividends paid	(811)				(811)
Other comprehensive income (loss)	(5,868)					(5,868)
Ending balance (in shares) at Mar. 31, 2022		0	8,749,878
Ending balance at Mar. 31, 2022	$ 169,189	$ 0	$ 43,749	$ 76,426	$ 53,604	$ (3,755)	$ (835)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
OPERATING ACTIVITIES
Net income	$ 4,557	$ 5,681
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and software amortization	289	477
Net loss (gain) on securities	361	232
Net amortization of securities	227	207
Amortization of core deposit intangible	66	66
Provision (credit) for loan losses	700	750
Stock-based compensation	245	173
Net decrease (increase) in loans held for sale	(109)	3,427
Income from bank owned life insurance	(122)	(125)
Decrease (increase) in interest receivable	(257)	155
Decrease in interest payable	(25)	(4)
Net other operating activities	3,907	2,103
Net cash provided by operating activities	9,839	13,142
INVESTING ACTIVITIES
Purchase of securities available for sale	(30,000)	(12,949)
Proceeds from sale of securities available for sale	0	15,759
Proceeds from maturities, calls, and paydowns of securities available for sale	2,927	2,683
Net redemption (purchase) of restricted equity securities	(225)	437
Purchase of bank owned life insurance	(7,021)	0
Purchase of annuities	(2,622)	0
Net increase in loans	(59,822)	(53,263)
Proceeds from sale of foreclosed assets	0	95
Purchase of premises, equipment and software	(1,309)	(951)
Net cash used in investing activities	(98,072)	(48,189)
FINANCING ACTIVITIES
Net increase in deposits	(14,612)	120,383
Proceeds from issuance of common stock	0	165
Repurchase of common stock	(6,132)	0
Net proceeds of other borrowings	0	1,011
Repayment of note payable	(12,498)	0
Net proceeds of subordinated notes	47,154	0
Common stock dividends paid	(811)	(691)
Net cash provided by financing activities	13,101	120,868
Net increase (decrease) in cash and cash equivalents	(75,132)	85,821
Cash and cash equivalents at beginning of year	283,956	84,907
Cash and cash equivalents at end of year	208,824	170,728
Cash paid during the year for:
Interest	1,243	1,397
Income taxes	74	0
NONCASH TRANSACTIONS
Transfers of loans to foreclosed assets	0	100
Internally financed sales of foreclosed assets	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Business

Southern States Bancshares, Inc. (the “Company”) is a bank holding company whose principal activity is the ownership and management of its wholly-owned subsidiary, Southern States Bank (the “Bank”). The Bank is a commercial bank headquartered in Anniston, Calhoun County, Alabama. The Bank also operates branch offices in Birmingham, Opelika, Auburn, Huntsville, Sylacauga, Wedowee, Ranburne, Roanoke, Heflin, Alabama as well as Columbus, Carrollton, Dallas, and Newnan, Georgia. The Bank also has an LPO office located in Atlanta, Georgia. The Bank provides a full range of banking services in its primary market areas and the surrounding areas.

Basis of Presentation and Accounting Estimates

The unaudited consolidated financial statements include the accounts of the Company and its subsidiary. Significant intercompany transactions and balances have been eliminated in consolidation.

In preparing the unaudited consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the valuation of foreclosed assets, financial instruments, deferred taxes, and other-than-temporary impairment of securities. In connection with the determination of the estimated losses on loans and the valuation of foreclosed assets, management obtains independent appraisals for significant collateral.

The determination of the adequacy of the allowance for loan losses is based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions.

The Company’s loans are generally secured by specific items of collateral including real property, consumer assets, and business assets. Although the Company has a diversified loan portfolio, a substantial portion of its borrowers’ ability to honor their contracts is dependent on local economic conditions.

While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on changes in local economic conditions.

In addition, regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans. Such agencies may require the Company to recognize additional losses based on their judgments about information available to them at the time of their examination. Because of these factors, it is reasonably possible that the estimated losses on loans may change materially in the near term. However, the amount of the change that is reasonably possible cannot be estimated.

Cash, Cash Equivalents and Cash Flows

For purposes of reporting cash flows, cash and cash equivalents includes cash on hand, cash items in process of collection, amounts due from banks, interest-bearing deposits in banks and federal funds sold. Cash flows from loans held for sale, loans, restricted equity securities, and deposits are reported net.

The Company maintains amounts due from banks which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts.

The Bank may be required to maintain reserve balances in cash or on deposit with a correspondent bank for the Federal Reserve Bank, based on a percentage of deposits. The total of those reserve balances was $0 at March 31, 2022 and December 31, 2021.

Securities

The Company classifies its securities into one of two categories based upon management’s intent and ability to hold the securities: (i) securities held to maturity or (ii) securities available for sale. Securities classified as held to maturity are stated at cost adjusted for amortization of premiums and accretion of discounts. Purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities. The Company has the ability, and it is management’s intention, to hold such securities to maturity. Securities classified as available for sale are recorded at fair value, with unrealized gains and losses excluded from earnings and reported in other comprehensive income (loss). Purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities. Gains and losses on the sale of securities available for sale are recorded on the trade date and are determined using the specific identification method.

The Company evaluates investment securities for other-than-temporary impairment (OTTI) using relevant accounting guidance on a regular basis. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near term prospects of the issuer including an evaluation of credit ratings, (3) the impact of changes in market interest rates, (4) the intent of the Company to sell a security, and (5) whether it is more likely than not the Company will have to sell the security before recovery of its cost basis. If the Company intends to sell an impaired security, or if it is more likely than not the Company will have to sell the security before recovery of its cost basis, the Company records an other-than-temporary loss in an amount equal to the entire difference between fair value and amortized cost. Otherwise, only the credit portion of the estimated loss is recognized in earnings, with the other portion of the loss is recognized in other comprehensive income (loss).

Other Equity Securities

The mutual funds owned by the Company are classified as equity securities and are carried at fair value with any periodic changes in value recorded through the income statement.

Restricted Equity Securities

Restricted equity securities are investments that are restricted in marketability. The Company, as a member of the Federal Home Loan Bank (FHLB) system, is required to maintain an investment in capital stock of the FHLB based upon its assets or outstanding advances. The Company has also purchased stock in First National Banker’s Bankshares, Inc. (FNBB), and Pacific Coast Banker’s Bank (PCBB), both correspondent banks. These securities are carried at cost and periodically evaluated for impairment based on ultimate recoverability of par value.

Loans Held For Sale

Loans originated and intended for sale in the secondary market are carried at the lower of cost or fair value (LOCOM). For loans carried at LOCOM, gains and losses on loan sales (sales proceeds minus carrying value) are recorded in noninterest income, and direct loan origination costs and fees are deferred at origination of the loan and are recognized in noninterest income upon sale of the loan. The estimated fair value of loans held for sale is based on independent third party quoted prices.

Loans

Loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off are reported at their outstanding principal balances less deferred fees and costs on originated loans and the allowance for loan losses. Interest income is accrued on the outstanding principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the related loan yield over the life of the loan, using the straight-line method without anticipating prepayments.

The accrual of interest on loans is discontinued when, in management’s opinion, the borrower may be unable to meet payments as they become due, or at the time the loan is 90 days past due, unless the loan is well-secured and in the process of collection. In all cases, loans are placed on nonaccrual or charged off at an earlier date if collection of principal and interest is considered doubtful. All interest accrued but not collected for loans that are placed on

nonaccrual or charged off is reversed against interest income or charged to the allowance; unless management believes that the accrual of interest is recoverable through the liquidation of collateral. Interest income on nonaccrual loans is recognized on the cash basis, until the loans are returned to accrual status. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and the loan has been performing according to the contractual terms generally for a period of not less than six months.

Certain Purchased Loans

Purchased loans are recorded at their fair value at the acquisition date. Credit discounts are included in the determination of fair value; therefore, an allowance for loan losses is not recorded at the acquisition date. Acquired loans are evaluated upon acquisition and classified as either purchased impaired or purchased non-impaired. Purchased impaired loans reflect credit deterioration since origination such that it is probable at acquisition that the Company will be unable to collect all contractually required payments. The purchased impaired loans acquired are subject to the Company’s internal and external credit review and monitoring. If credit deterioration is experienced subsequent to the initial acquisition fair value amount, such deterioration will be measured, and a provision for credit losses will be charged to earnings.

Such purchased loans are accounted for individually. The Company estimates the amount and timing of expected cash flows for each purchased loan, and the expected cash flows in excess of the amount paid is recorded as interest income over the remaining life of the loan or pool (accretable yield). The excess of the loan’s contractual principal and interest over expected cash flows is not recorded (nonaccretable difference). Over the life of the loan, expected cash flows will continue to be estimated. If the present value of expected cash flows is less than the carrying amount, a loss is recorded. If the present value of expected cash flows is greater than the carrying amount, it is recognized as part of future interest income. Purchased impaired loans at the time of acquisition are accounted for under ASC 310-30.

Purchased non-impaired loans are accounted for under ASC 310-20, with the difference between the fair value and unpaid principal balance of the loan at the acquisition date amortized or accreted to interest income over the estimated life of the loans.

Allowance for Loan Losses

The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to expense. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Confirmed losses are charged off immediately. Subsequent recoveries, if any, are credited to the allowance.

The allowance is an amount that management believes will be adequate to absorb estimated losses relating to specifically identified loans, as well as probable credit losses inherent in the balance of the loan portfolio. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectibility of loans in light of historical experience, the nature and volume of the loan portfolio, overall portfolio quality, review of specific problem loans, current economic conditions that may affect the borrower’s ability to pay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. This evaluation does not include the effects of expected losses on specific loans or groups of loans that are related to future events or expected changes in economic conditions.

The allowance consists of specific and general components. The specific component relates to loans that are classified as impaired. For those loans that are classified as impaired, an allowance is established when the discounted cash flows, collateral value, or observable market price of the impaired loan is lower than the carrying value of that loan. The general component covers non-impaired loans and is based on historical loss experience adjusted for qualitative factors. Other adjustments may be made to the allowance for pools of loans after an assessment of internal or external influences on credit quality that are not fully reflected in the historical loss or risk rating data.

A loan is considered impaired when it is probable, based on current information and events, the Company will be unable to collect all principal and interest payments due in accordance with the contractual terms of the loan agreement. Loans, for which the terms have been modified at the borrower’s request, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings and classified as impaired.

Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest when due. Loans that experience insignificant payment delays and payment shortfalls are not generally classified as impaired. Impaired loans are measured by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. Interest on accruing impaired loans is recognized as long as such loans do not meet the criteria for nonaccrual status. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment.

The Company’s allowance is allocated among commercial real estate loans, real estate construction and development loans, residential real estate loans, commercial and industrial loans, and consumer loans. The general allocations to these loan pools are based on the historical loss rates for specific loan types and the internal risk grade, if applicable, adjusted for both internal and external qualitative risk factors. The qualitative factors considered by management include, among other factors, (1) changes in local and national economic conditions; (2) changes in asset quality and foreclosure rates; (3) changes in loan portfolio volume; (4) the composition and concentrations of credit; (5) the impact of competition on loan structuring and pricing; (6) the experience and ability of lending personnel and management; (7) effectiveness of the Company’s loan policies, procedures and internal controls; (8) current conditions in the real estate and construction markets; (9) the effect of entrance into new markets or the offering of a new product; (10) the loan review system and oversight of the Board of Directors. The total allowance established for each homogeneous loan pool represents the product of the historical loss ratio adjusted for internal and external factors and the total dollar amount of the loans in the pool.

Troubled Debt Restructurings

A loan is considered a troubled debt restructuring (TDR) based on individual facts and circumstances. The Company designates loan modifications as TDRs when for economic or legal reasons related to the borrower’s financial difficulties, it grants a concession to the borrower that it would not otherwise consider. These concessions may include rate reductions, principal forgiveness, extension of maturity date and other actions intended to minimize potential losses.

In determining whether a borrower is experiencing financial difficulties, the Company considers if the borrower is in payment default or would be in payment default in the foreseeable future without the modification, the borrower declared or is in the process of declaring bankruptcy, the borrower’s projected cash flows will not be sufficient to service any of its debt, or the borrower cannot obtain funds from sources other than the Company at a market rate for debt with similar risk characteristics.

In determining whether the Company has granted a concession, the Company assesses, if it does not expect to collect all amounts due, whether the current value of the collateral will satisfy the amounts owed, whether additional collateral or guarantees from the borrower will serve as adequate compensation for other terms of the restructuring, and whether the borrower otherwise has access to funds at a market rate for debt with similar risk characteristics.

Premises and Equipment

Land is carried at cost. Premises and equipment are carried at cost less accumulated depreciation computed on the straight-line method over the estimated useful lives of the assets or the expected terms of the leases, if shorter. Expected terms include lease option periods to the extent that the exercise of such options is reasonably assured. Maintenance and repairs are expensed as incurred while major additions and improvements are capitalized. Gains and losses on dispositions are reflected in income. The estimated useful lives are as follows:


			Years
Buildings			10-39
Furniture and equipment			3-7

Transfers of Financial Assets

Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company - put presumptively beyond the reach of the transferor and its creditors, even in bankruptcy or other receivership, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity or the ability to unilaterally cause the holder to return specific assets.

Foreclosed Assets

Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value less estimated selling costs. Any write-down to fair value at the time of transfer to foreclosed assets is charged to the allowance for loan losses. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less estimated costs to sell. Costs of improvements are capitalized, whereas costs related to holding foreclosed assets and subsequent write-downs to the value are expensed. Any gains and losses realized at the time of disposal are reflected in income.

Goodwill

Goodwill represents the excess of the amount paid over the fair value of the net assets at the date of acquisition. Goodwill is subject to an annual evaluation of impairment. If desired, the Company can assess qualitative factors to determine if comparing the carrying value of the reporting unit to its fair value is necessary. Should the fair value be less than the carrying value, an impairment write-down would be taken. Based on its assessment of qualitative factors, the Company determined that no impairment exists at March 31, 2022.

Goodwill is not amortized but is evaluated for impairment on an annual basis or whenever an event occurs or circumstances change to indicate that it is more likely than not that an impairment loss has been incurred (i.e., a triggering event). The Company performed a goodwill impairment test in March 2022. The qualitative factors considered in determining if fair value of the unit was less than the carrying amount were economic conditions related to the COVID-19 virus and the change in the interest rate environment. A quantitative assessment of goodwill impairment included determining the estimated fair value of Company using a market-based approach. It was determined there was no impairment.

Core Deposit Intangible

A core deposit intangible is initially recognized based on a valuation, of acquired deposits, performed as of the acquisition date. The core deposit intangible is amortized over the average remaining life of the acquired customer deposits, or approximately 7 years. The intangible asset is reviewed annually for events or circumstances that could negatively impact the recoverability of the intangible. These events could include loss of core deposits, increased competition, or adverse changes in the economy.

To the extent this intangible asset is deemed unrecoverable, an impairment charge would be recorded. The Company maintains steady deposit growth across our markets and continues to attract new customer deposits. The intangible asset was evaluated for impairment as of March 31, 2022 and based on that evaluation there was no impairment.

Accounting Policy for Derivative Instruments and Hedging Activities

FASB ASC 815, Derivatives and Hedging (ASC 815), provides the disclosure requirements for derivatives and hedging activities with the intent to provide users of financial statements with an enhanced understanding of: (a) how and why an entity uses derivative instruments, (b) how the entity accounts for derivative instruments and related hedged items, and (c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance, and cash flows. Further, qualitative disclosures are required that explain the Company’s objectives and strategies for using derivatives, as well as quantitative disclosures about the fair value of and gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative instruments.

As required by ASC 815, the Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Derivatives may also be designated as hedges of the foreign currency exposure of a net investment in a foreign operation. Hedge accounting generally provides for the matching of the timing of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risks, even though hedge accounting does not apply or the Company elects not to apply hedge accounting.

In accordance with the FASB’s fair value measurement guidance in ASU 2011-04, the Company made an accounting policy election to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio.

Income Taxes

Income tax accounting guidance results in two components of income tax expense: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over revenues. The Company determines deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur.

Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more likely than not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more likely than not recognition threshold considers the facts, circumstances, and information available at the reporting date and is subject to management’s judgment. Deferred tax assets may be reduced by deferred tax liabilities and a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. Management believes that the Company will generate sufficient operating earnings to realize the deferred tax benefits.

Stock Compensation Plans

the equity or liability instruments issued. The stock compensation accounting guidance covers a wide range of share-based compensation arrangements including stock options and warrants, restricted stock plans, performance-based awards, share appreciation rights, and employee share purchase plans.

The stock compensation accounting guidance requires that compensation cost for all stock awards be calculated and recognized over the employees’ service period, generally defined as the vesting period. For awards with graded-vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. A Black-Scholes model is used to estimate the fair value of stock options, while the estimated market price of the Company’s common stock at the date of grant is used for restricted stock awards and stock grants.

Comprehensive Income (Loss)

Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities, such as unrealized gains and losses on available for sale securities, are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of comprehensive income (loss).

Fair Value of Financial Instruments

Fair values of financial instruments are estimates using relevant market information and other assumptions, as more fully disclosed in Note 12. Fair value estimates involve uncertainties and matters of significant judgment. Changes in assumptions or in market conditions could significantly affect the estimates.

Revenue Recognition

On January 1, 2019, the Company adopted ASC 606 and all subsequent amendments (collectively ASC 606) which (1) creates a single framework for recognizing revenue from contracts with customers that fall within its scope and (2) revises when it is appropriate to recognize a gain (loss) from the transfer of nonfinancial assets, such as foreclosed assets. The majority of the Company’s revenues come from interest income and other sources, including loans and securities that are outside the scope of ASC 606. With the exception of gains/losses on sale of foreclosed assets, the Company’s services that fall within the scope of ASC 606 are presented within noninterest income and are recognized as revenue as the Company satisfies its obligations to the customer. Services within the scope of ASC 606 reported in noninterest income include service charges on deposit accounts, bank card services and interchange fees, and ATM fees.

Recent Accounting Pronouncements

In February 2016 the Financial Accounting Standards Board (FASB) issued ASU 2016-02, “Leases (Topic 842)” to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and by disclosing key information about leasing arrangements. ASU 2016-02 requires organizations that lease assets (lessees) to recognize on the balance sheet the assets and liabilities for the rights and obligations created by the lease for all operating leases under current U.S. GAAP with a term of more than 12 months. The ASU is effective for non-public business entities for fiscal years beginning after December 15, 2021. Early adoption is permitted. The ASU should be applied on a modified retrospective basis, with a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company adopted ASU 2016-02 on June 30, 2021 and there was no material impact on the Company’s consolidated financial statements.

In July 2018 the FASB issued ASU 2018-11, “Leases – Targeted Improvements” to provide entities with relief from the costs of implementing certain aspects of the new leasing standard, ASU 2016-02. Specifically, under the amendments in ASU 2018-11: (1) entities may elect not to recast the comparative periods presented when transitioning to the new leasing standard, and (2) lessors may elect not to separate lease and non-lease components when certain conditions are met. The amendments have the same effective date as ASU 2016-02 (January 1, 2022 for the Company). The Company adopted ASU 2018-11 on June 30, 2021 and there was no material impact on the Company’s consolidated financial statements.

In June 2016 the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The new guidance will apply to most financial assets measured at amortized cost and certain other instruments including loans, debt securities held to maturity, net investments in leases and off-balance sheet credit exposures. The guidance will replace the current incurred loss accounting model that delays recognition of a loss until it is probable a loss has been incurred with an expected loss model that reflects expected credit losses based upon a broader range of estimates including consideration of past events, current conditions and supportable forecasts. The guidance also eliminates the current accounting model for purchased credit impaired loans and debt securities, which will require re-measurement of the related allowance at each reporting period. The guidance includes enhanced disclosure requirements intended to help financial statement users better understand estimates and judgement used in estimating credit losses. As originally issued, ASU 2016-13 was effective for financial statements issued for fiscal years and for interim periods within those fiscal years beginning after December 15, 2020, with institutions required to apply the changes through a cumulative-effect adjustment to their retained earnings balance as of the beginning of the first reporting period in which the guidance is effective. On October 16, 2019, the FASB approved a delay in the implementation of ASU 2016-13 by two years for non-public business entities and SEC filers that qualify as smaller reporting companies, including the Company. Management has been in the process of developing a revised model to calculate the allowance for loan and leases losses upon implementation of ASU 2016-13 in order to determine the impact on the Company’s consolidated financial statements and, at this time, expects to recognize a one-time cumulative effect adjustment to the allowance for loan and lease losses as of the beginning of the first reporting period in which the new standard is effective. The magnitude of any such one-time adjustments is not yet known but is not anticipated to be material.In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities (ASU 2017-12). The purpose of this updated guidance is to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. ASU 2017-12 is effective for other than public business entities for fiscal years beginning after December 15, 2020, with early adoption, including adoption in an interim period, permitted. ASU 2017-12 requires a modified retrospective transition method in which the Company will recognize the cumulative effect of the change on the opening balance of each affected component of equity in the statement of financial position as of the date of adoption. The amended presentation and disclosure guidance is required only prospectively. The Company did not experience any impact on the Company’s consolidated financial position, results of operations or cash flows as a result of ASU 2017-12.

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Business

Basis of Presentation and Accounting Estimates

The audited consolidated financial statements include the accounts of the Company and its subsidiary. Significant intercompany transactions and balances have been eliminated in consolidation.

In preparing the audited consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

The determination of the adequacy of the allowance for loan losses is based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions.

While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on changes in local economic conditions.

Cash, Cash Equivalents and Cash Flows

The Company maintains amounts due from banks which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts.

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Securities

Other Equity Securities

The mutual funds owned by the Bank are classified as equity securities and are carried at fair value with any periodic changes in value recorded through the income statement.

Restricted Equity Securities

Loans Held For Sale

Loans

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Loans (Continued)

the process of collection. In all cases, loans are placed on nonaccrual or charged off at an earlier date if collection of principal and interest is considered doubtful. All interest accrued but not collected for loans that are placed on nonaccrual or charged off is reversed against interest income or charged to the allowance; unless management believes that the accrual of interest is recoverable through the liquidation of collateral. Interest income on nonaccrual loans is recognized on the cash basis, until the loans are returned to accrual status. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and the loan has been performing according to the contractual terms generally for a period of not less than six months.

Certain Purchased Loans

Allowance for Loan Losses

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Allowance for Loan Losses (Continued)

discounted cash flows, collateral value, or observable market price of the impaired loan is lower than the carrying value of that loan. The general component covers non-impaired loans and is based on historical loss experience adjusted for qualitative factors. Other adjustments may be made to the allowance for pools of loans after an assessment of internal or external influences on credit quality that are not fully reflected in the historical loss or risk rating data.

Troubled Debt Restructurings

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Premises and Equipment


			Years
Buildings			10-39
Furniture and equipment			3-7

Leases

The Bank leases various premises and equipment. At the inception of the contract, the Bank determines if an arrangement is or contains a lease and will recognize on the balance sheet a lease asset for its right to use the underlying asset (“ROU”) and a lease liability for the corresponding lease obligation for contracts longer than a year. Both the asset and liability are initially measured at the present value of the future minimum lease payments over the lease term. In determining the present value of lease payments, the Bank uses our incremental borrowing rate as the discount rate for the leases.

Transfers of Financial Assets

Foreclosed Assets

Goodwill

Goodwill is not amortized but is evaluated for impairment on an annual basis or whenever an event occurs or circumstances change to indicate that it is more likely than not that an impairment loss has been incurred (i.e., a triggering event). The Company performed a goodwill impairment test in December 2021. The qualitative factors considered in determining if fair value of the unit was less than the carrying amount were economic conditions related to the COVID-19 virus and the change in the interest rate environment. A quantitative assessment of

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Goodwill (Continued)

goodwill impairment included determining the estimated fair value of Company using a market-based approach. It was determined there was no impairment.

Core Deposit Intangible

A core deposit intangible is initially recognized based on a valuation of acquired deposits performed as of the acquisition date. The core deposit intangible is amortized over the average remaining life of the acquired customer deposits, or approximately 7 years. The intangible asset is reviewed annually for events or circumstances that could negatively impact the recoverability of the intangible. These events could include loss of core deposits, increased competition, or adverse changes in the economy. To the extent this intangible asset is deemed unrecoverable, an impairment charge would be recorded. The Company maintains steady deposit growth across our markets and continues to attract new customer deposits. The intangible asset was evaluated for impairment as of December 31, 2021 and based on that evaluation there was no impairment.

Accounting Policy for Derivative Instruments and Hedging Activities

FASB ASC 815, Derivatives and Hedging (“ASC 815”), provides the disclosure requirements for derivatives and hedging activities with the intent to provide users of financial statements with an enhanced understanding of: (a) how and why an entity uses derivative instruments, (b) how the entity accounts for derivative instruments and related hedged items, and (c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance, and cash flows. Further, qualitative disclosures are required that explain the Company’s objectives and strategies for using derivatives, as well as quantitative disclosures about the fair value of and gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative instruments.

Income Taxes

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Income Taxes (Continued)

Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more likely than not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more likely than-not recognition threshold considers the facts, circumstances, and information available at the reporting date and is subject to management’s judgment. Deferred tax assets may be reduced by deferred tax liabilities and a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. Management believes that the Company will generate sufficient operating earnings to realize the deferred tax benefits.

Stock Compensation Plans

Stock compensation accounting guidance requires that the compensation cost relating to share-based payment transactions be recognized in financial statements. That cost will be measured based on the grant date fair value of the equity or liability instruments issued. The stock compensation accounting guidance covers a wide range of share-based compensation arrangements including stock options and warrants, restricted stock plans, performance-based awards, share appreciation rights, and employee share purchase plans.

Comprehensive Income

Fair Value of Financial Instruments

Fair values of financial instruments are estimates using relevant market information and other assumptions, as more fully disclosed in Note 17. Fair value estimates involve uncertainties and matters of significant judgment. Changes in assumptions or in market conditions could significantly affect the estimates.

Revenue Recognition

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Recent Accounting Pronouncements

In February 2016 the Financial Accounting Standards Board (FASB) issued ASU 2016-02, “Leases (Topic 842)” to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and by disclosing key information about leasing arrangements. ASU 2016-02 requires organizations that lease assets (lessees) to recognize on the balance sheet the assets and liabilities for the rights and obligations created by the lease for all operating leases under current U.S. GAAP with a term of more than 12 months. The ASU is effective for non public business entities for fiscal years beginning after December 15, 2021. Early adoption is permitted. The ASU should be applied on a modified retrospective basis, with a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company adopted ASU 2016-02 on June 30, 2021 and there was no material impact on the Company’s consolidated financial statements.

In July 2018 the FASB issued ASU 2018-11, “Leases –Targeted Improvements” to provide entities with relief from the costs of implementing certain aspects of the new leasing standard, ASU 2016-02. Specifically, under the amendments in ASU 2018-11: (1) entities may elect not to recast the comparative periods presented when transitioning to the new leasing standard, and (2) lessors may elect not to separate lease and non-lease components when certain conditions are met. The amendments have the same effective date as ASU 2016-02 (January 1, 2022 for the Company). The Company adopted ASU 2018-11 on June 30, 2021 and there was no material impact on the Company’s consolidated financial statements.

In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging: Targeted Improvements to Accounting for Hedging Activities (ASU 2017-12). The purpose of this updated guidance is to better align a company’s financial reporting for hedging activities with the economic objectives of those activities. ASU 2017-12 is effective for other than public business entities for fiscal years beginning after December 15, 2020, with early adoption, including adoption in an interim period, permitted. ASU 2017-12 requires a modified retrospective transition method in which the Company will recognize the cumulative effect of the change on the opening balance of each affected component of equity in the statement of financial position as of the date of adoption. The amended presentation and disclosure guidance is required only prospectively. The Company did not experience any impact on the Company’s consolidated financial position, results of operations or cash flows as a result of ASU 2017-12.

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Recent Events

On August 12, 2021, the Company completed the sale of 996,429 new shares of the Company’s common stock at a public offering price of $19.00 per share in the Company’s initial public offering (the “IPO”), and on August 19, 2021, the Company completed the sale of an additional 300,000 shares at the same price pursuant to the exercise of the underwriters’ option to purchase additional shares in the offering.

EARNINGS PER SHARE

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHAREBasic earnings per share is calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding. Diluted earnings per share reflect additional potential common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options issued, as well as any adjustment to income that would result from

the assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options.


	For the Three Months Ended March 31,
	2022		2021
Basic Earnings Per Share:
Net Income	$	4,557	$	5,681
Weighted average common shares outstanding	8,935,384		7,681,578
Basic earnings per share	$	0.51	$	0.74
Diluted Earnings Per Share:
Net income allocated to common shareholders	$	4,549	$	5,674
Weighted average common shares outstanding	8,935,384		7,681,578
Net dilutive effect of:
Assumed exercises of stock options	129,980		113,281
Average shares and dilutive potential common shares	9,065,364		7,794,859
Dilutive earnings per share	$	0.50	$	0.73

EARNINGS PER SHARE

Basic earnings per share is calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding. Diluted earnings per share reflect additional potential common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options.


	For the Years Ended
	2021		2020
Basic Earnings Per Share:
Net Income	$	18,567	$	12,107
Weighted average common shares outstanding	8,198,188		7,673,085
Basic earnings per share	$	2.26	$	1.58
Diluted Earnings Per Share:
Net income allocated to common shareholders	$	18,538	$	12,095
Weighted average common shares outstanding	8,198,188		7,673,085
Net dilutive effect of:
Assumed exercises of stock options	118,348		92,778
Average shares and dilutive potential common shares	8,316,536		7,765,863
Dilutive earnings per share	$	2.23	$	1.56

SECURITIES

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

SECURITIES

The amortized cost and fair value of securities at March 31, 2022 and December 31, 2021 are summarized as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
March 31, 2022
Securities Available for Sale
U.S. Treasury securities	$	9,797	$	—	$	(556)	$	9,241
U.S. Government Sponsored Enterprises (GSEs)	8,453		—		(414)		8,039
State and municipal securities	56,963		607		(2,924)		54,646
Corporate debt securities	10,528		129		(216)		10,441
Asset based securities	10,096		14		(105)		10,005
Mortgage-backed GSE residential/multifamily and non-GSE	60,264		6		(1,615)		58,655
Total securities available for sale	$	156,101	$	756	$	(5,830)	$	151,027
Securities Held to Maturity


State and municipal securities	19,667		—		(1,440)		18,227



Total securities held to maturity	$	19,667	$	—	$	(1,440)	$	18,227
Total securities	$	175,768	$	756	$	(7,270)	$	169,254


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	7,820	$	22	$	(20)	$	7,822
U.S. Government Sponsored Enterprises (GSEs)	9,228		68		(103)		9,193
State and municipal securities	54,236		2,611		(66)		56,781
Corporate debt securities	10,530		289		(35)		10,784
Asset based securities	10,380		116		(24)		10,472
Mortgage-backed GSE residential/multifamily and non-GSE	37,123		185		(188)		37,120
Total securities available for sale	$	129,317	$	3,291	$	(436)	$	132,172
Securities Held to Maturity


State and municipal securities	19,672		364		(126)		19,910



Total securities held to maturity	$	19,672	$	364	$	(126)	$	19,910
Total securities	$	148,989	$	3,655	$	(562)	$	152,082

Securities with a carrying value of $45,534 and $46,263 at March 31, 2022 and December 31, 2021, respectively, were pledged to secure public deposits and for other purposes as required or permitted by law.

The amortized cost and fair value of securities available for sale and securities held to maturity as of March 31, 2022 and December 31, 2021 by contractual maturity are shown below. Actual maturities may differ from contractual maturities in mortgage-backed securities because the mortgages underlying the securities may be called or repaid with or without penalty. Therefore, these securities are not included by maturity in the following summary:


	March 31, 2022				December 31, 2021
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Securities Available for Sale
Due in less than one year	$	301	$	301	$	302	$	302
Due from one year to five years	6,997		6,881		2,766		2,790
Due after five to ten years	23,679		22,684		26,475		26,764
Due after ten years	64,860		62,506		62,651		65,196
Mortgage-backed securities	60,264		58,655		37,123		37,120
Total securities available for sale	$	156,101	$	151,027	$	129,317	$	132,172
Securities Held to Maturity
Due in less than one year	$	—	$	—	$	—	$	—
Due from one year to five years	—		—		—		—
Due after five to ten years	1,772		1,689		1,100		1,115
Due after ten years	17,895		16,538		18,572		18,795
Mortgage-backed securities	—		—		—		—
Total securities held to maturity	$	19,667	$	18,227	$	19,672	$	19,910
Total securities	$	175,768	$	169,254	$	148,989	$	152,082

Restricted equity securities as of March 31, 2022 and December 31, 2021 consist of the following:


	March 31,		December 31,
	2022		2021
Federal Home Loan Bank stock	$	1,900	$	1,675
First National Banker’s Bankshares, Inc. stock	675		675
Pacific Coast Banker’s Bank stock	250		250
Total restricted equity securities	$	2,825	$	2,600

Temporarily Impaired Securities

The following table shows the gross unrealized losses and fair value of securities, aggregated by category and length of time that securities have been in a continuous unrealized loss position at March 31, 2022 and December 31, 2021.


	Less Than Twelve Months				Over Twelve Months				Total Unrealized Losses
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
March 31, 2022
Securities Available for Sale
U.S. Treasury securities	$	(556)	$	9,241	$	—	$	—	$	(556)
U.S. Government Sponsored Enterprises (GSEs)	(215)		5,596		(199)		2,443		(414)
State and municipal securities	(2,924)		39,112		—		—		(2,924)
Corporate debt securities	(177)		5,351		(39)		711		(216)
Asset based securities	(101)		7,473		(4)		844		(105)
Mortgage-backed GSE residential/multifamily and non-GSE	(1,522)		41,499		(93)		2,442		(1,615)
Total securities available for sale	$	(5,495)	$	108,272	$	(335)	$	6,440	$	(5,830)
Securities Held to Maturity


State and municipal securities	(1,377)		17,786		(63)		441		(1,440)



Total securities held to maturity	$	(1,377)	$	17,786	$	(63)	$	441	$	(1,440)
Total securities	$	(6,872)	$	126,058	$	(398)	$	6,881	$	(7,270)


	Less Than Twelve Months				Over Twelve Months				Total Unrealized Losses
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value

December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	(20)	$	5,347	$	—	$	—	$	(20)
U.S. Government Sponsored Enterprises (GSEs)	(57)		1,946		(46)		1,899		(103)
State and municipal securities	(66)		6,270		—		—		(66)
Corporate debt securities	(35)		2,995		—		—		(35)
Asset based securities	(21)		2,842		(3)		879		(24)
Mortgage-backed GSE residential/multifamily and non-GSE	(158)		16,226		(30)		2,749		(188)
Total securities available for sale	$	(357)	$	35,626	$	(79)	$	5,527	$	(436)
Securities Held to Maturity


State and municipal securities	(126)		6,450		—		—		(126)



Total securities held to maturity	$	(126)	$	6,450	$	—	$	—	$	(126)
Total securities	$	(483)	$	42,076	$	(79)	$	5,527	$	(562)

The unrealized losses on 172 securities were caused by interest rate changes. Because the Company does not intend to sell the securities and it is not more likely than not that the Company will be required to sell the securities before recovery of the amortized cost bases, at maturity, the Company does not consider these securities to be other-than-temporarily impaired at March 31, 2022.

Other-Than-Temporary Impairment

The Company routinely conducts periodic reviews to identify and evaluate each investment security to determine whether an other-than-temporary impairment has occurred. Factors included in the evaluation process may include geographic concentrations, credit ratings, and other performance indicators of the underlying asset. As of March 31, 2022 and December 31, 2021, no securities within the Company’s investment securities portfolio was considered other-than-temporarily impaired.

SECURITIES

The amortized cost and fair value of securities at December 31, 2021 and December 31, 2020 are summarized as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	7,820	$	22	$	(20)	$	7,822
U.S. Government Sponsored Enterprises (GSEs)	9,228		68		(103)		9,193
State and municipal securities	54,236		2,611		(66)		56,781
Corporate debt securities	10,530		289		(35)		10,784
Asset based securities	10,380		116		(24)		10,472
Mortgage-backed GSE residential/multifamily and non-GSE	37,123		185		(188)		37,120
Total securities available for sale	$	129,317	$	3,291	$	(436)	$	132,172

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—
State and municipal securities	19,672		364		(126)		19,910
Corporate debt securities	—		—		—		—
Asset based securities	—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—
Total securities held to maturity	$	19,672	$	364	$	(126)	$	19,910
Total securities	$	148,989	$	3,655	$	(562)	$	152,082

NOTE 3. SECURITIES (Continued)


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2020
Securities Available for Sale
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	9,154		246		(34)		9,366
State and municipal securities	64,468		3,531		(58)		67,941
Corporate debt securities	8,286		188		(5)		8,469
Asset based securities	9,035		76		—		9,111
Mortgage-backed GSE residential/multifamily and non-GSE	18,753		394		(33)		19,114
Total securities available for sale	$	109,696	$	4,435	$	(130)	$	114,001

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—
State and municipal securities	—		—		—		—
Corporate debt securities	—		—		—		—
Asset based securities	—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—
Total securities held to maturity	$	—	$	—	$	—	$	—
Total securities	$	109,696	$	4,435	$	(130)	$	114,001

Securities with a carrying value of $46,263 and $40,983 at December 31, 2021 and December 31, 2020, respectively, were pledged to secure public deposits and for other purposes as required or permitted by law.

The amortized cost and fair value of securities available for sale and securities held to maturity as of December 31, 2021 and December 31, 2020 by contractual maturity are shown below. Actual maturities may differ from contractual maturities in mortgage-backed securities because the mortgages underlying the securities may be called or repaid with or without penalty. Therefore, these securities are not included by maturity in the following summary:

NOTE 3. SECURITIES (Continued)


	December 31,
	2021				2020
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Securities Available for Sale
Due in less than one year	$	302	$	302	$	—	$	—
Due from one year to five years	2,766		2,790		1,200		1,241
Due after five to ten years	26,475		26,764		15,518		15,873
Due after ten years	62,651		65,196		74,225		77,773
Mortgage-backed securities	37,123		37,120		18,753		19,114
Total securities available for sale	$	129,317	$	132,172	$	109,696	$	114,001

Securities Held to Maturity
Due in less than one year	$	—	$	—	$	—	$	—
Due from one year to five years	—		—		—		—
Due after five to ten years	1,100		1,115		—		—
Due after ten years	18,572		18,795		—		—
Mortgage-backed securities	—		—		—		—
Total securities held to maturity	$	19,672	$	19,910	$	—	$	—
Total securities	$	148,989	$	152,082	$	109,696	$	114,001

Gains and losses on sales of securities available for sale for the years ended December 31, 2021 and December 31, 2020 consist of the following:


	Years Ended December 31,
	2021		2020
Gross gains	$	862	$	765
Gross losses	(919)		(23)
Net realized gains (losses)	$	(57)	$	742

Restricted equity securities as of December 31, 2021 and December 31, 2020 consist of the following:


	December 31,
	2021		2020
Federal Home Loan Bank stock	$	1,675	$	2,299
First National Banker’s Bankshares, Inc. stock	675		675
Pacific Coast Banker’s Bank stock	250		250
Total restricted equity securities	$	2,600	$	3,224

NOTE 3. SECURITIES (Continued)

Temporarily Impaired Securities


	Less Than Twelve Months				Over Twelve Months
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Total Unrealized Losses
December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	(20)	$	5,347	$	—	$	—	$	(20)
U.S. Government Sponsored Enterprises (GSEs)	(57)		1,946		(46)		1,899		(103)
State and municipal securities	(66)		6,270		—		—		(66)
Corporate debt securities	(35)		2,995		—		—		(35)
Asset based securities	(21)		2,842		(3)		879		(24)
Mortgage-backed GSE residential/multifamily and non-GSE	(158)		16,226		(30)		2,749		(188)
Total securities available for sale	$	(357)	$	35,626	$	(79)	$	5,527	$	(436)

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—		—
State and municipal securities	(126)		6,450		—		—		(126)
Corporate debt securities	—		—		—		—		—
Asset based securities	—		—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—		—
Total securities held to maturity	$	(126)	$	6,450	$	—	$	—	$	(126)
Total securities	$	(483)	$	42,076	$	(79)	$	5,527	$	(562)

NOTE 3. SECURITIES (Continued)

Temporarily Impaired Securities (Continued)


	Less Than Twelve Months				Over Twelve Months
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Total Unrealized Losses
December 31, 2020
Securities Available for Sale
U.S. Treasury securities	$	—	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	(34)		2,051		—		—		(34)
State and municipal securities	(58)		4,979		—		—		(58)
Corporate debt securities	(5)		1,495		—		—		(5)
Asset based securities	—		960		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	(33)		6,643		—		—		(33)
Total securities available for sale	$	(130)	$	16,128	$	—	$	—	$	(130)

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—		—
State and municipal securities	—		—		—		—		—
Corporate debt securities	—		—		—		—		—
Asset based securities	—		—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—		—
Total securities held to maturity	$	—	$	—	$	—	$	—	$	—
Total securities	$	(130)	$	16,128	$	—	$	—	$	(130)

The unrealized losses on fifty-five securities were caused by interest rate changes. Because the Company does not intend to sell the securities and it is not more likely than not that the Company will be required to sell the securities before recovery of the amortized cost bases, at maturity, the Company does not consider these securities to be other-than-temporarily impaired at December 31, 2021.

Other-Than-Temporary Impairment

The Company routinely conducts periodic reviews to identify and evaluate each investment security to determine whether an other-than-temporary impairment has occurred. Factors included in the evaluation process may include geographic concentrations, credit ratings, and other performance indicators of the underlying asset. As of December 31, 2021 and December 31, 2020, no securities within the Company’s investment securities portfolio was considered other-than-temporarily impaired.

LOANS

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

LOANS

Portfolio Segments and Classes

The composition of loans, excluding loans held for sale, is summarized as follows:


	March 31, 2022				December 31, 2021
	Amount		% of Total		Amount		% of Total
	(in thousands, except percentages)
Real estate mortgages:
Construction and development	$	165,400	12.6	%	$	174,480	13.9	%
Residential	154,143		11.7	%	147,490		11.8	%
Commercial	765,685		58.3	%	716,541		57.1	%
Commercial and industrial	219,761		16.7	%	206,897		16.5	%
Consumer and other	9,077		0.7	%	8,709		0.7	%
Gross Loans	1,314,066		100.0	%	1,254,117		100.0	%
Deferred loan fees	(3,996)				(3,817)
Allowance for loan losses	(15,492)				(14,844)
Loans, net	$	1,294,578			$	1,235,456

For purposes of the disclosures required pursuant to ASC 310, the loan portfolio was disaggregated into segments and then further disaggregated into classes for certain disclosures. A portfolio segment is defined as the level at which an entity develops and documents a systematic method for determining its allowance for credit losses. There are three loan portfolio segments that include real estate, commercial and industrial, and consumer and other. A class is generally determined based on the initial measurement attribute, risk characteristic of the loan, and an entity’s method for monitoring and assessing credit risk. Commercial and industrial is a separate commercial loan class. Classes within the real estate portfolio segment include construction and development, residential mortgages, and commercial mortgages. Consumer loans and other are a class in itself.

In light of the U.S. and global economic crisis brought about by the COVID-19 pandemic, the Company has prioritized assisting its clients through this troubled time. The CARES Act provides for Paycheck Protection Plan (PPP) loans to be made by banks to employers with less than 500 employees if they continue to employ their existing workers. As of March 31, 2022, the Company has outstanding 6 loans for a total amount of $893 under the PPP. At March 31, 2022, unaccreted deferred loan origination fees related to PPP loans totaled $0. PPP loan origination fees recorded as an adjustment to loan yield for the three months ended was $298. These PPP loans are included within the commercial and industrial loan category in the table above.

The following describe risk characteristics relevant to each of the portfolio segments and classes:

Real estate - As discussed below, the Company offers various types of real estate loan products. All loans within this portfolio segment are particularly sensitive to the valuation of real estate:

•Loans for real estate construction and development are repaid through cash flow related to the operations, sale or refinance of the underlying property. This portfolio class includes extensions of credit to real estate developers or investors where repayment is dependent on the sale of the real estate or income generated from the real estate collateral.

•Residential mortgages include 1-4 family first mortgage loans which are repaid by various means such as a borrower’s income, sale of the property, or rental income derived from the property. Also included in residential mortgages are real estate loans secured by farmland, second liens, or open end real estate loans, such as home equity lines. These loans are typically repaid in the same means as 1-4 family first mortgages.

•Commercial real estate mortgage loans include both owner-occupied commercial real estate loans and other commercial real estate loans such as commercial loans secured by income producing properties. Owner-occupied commercial real estate loans made to operating businesses are long-term financing of land and buildings and are repaid by cash flows generated from business operations. Real estate loans for income-producing properties such as apartment buildings, hotels, office and industrial buildings, and retail shopping centers are repaid by cash flows from rent income derived from the properties.

Commercial and industrial - The commercial loan portfolio segment includes commercial and industrial loans. These loans include those loans to commercial customers for use in normal business operations to finance working capital needs, equipment purchases, leases, or expansion projects. Loans are repaid by business cash flows. Collection risk in this portfolio is driven by the creditworthiness of the underlying borrower, particularly cash flows from the borrowers’ business operations.

Consumer and other - The consumer loan portfolio segment includes direct consumer installment loans, overdrafts and other revolving credit loans. Loans in this portfolio are sensitive to unemployment and other key consumer economic measures which affects borrowers’ incomes and cash for repayment.

Credit Risk Management

The Chief Credit Officer, Officers Loan Committee and Directors Loan Committee are each involved in the credit risk management process and assess the accuracy of risk ratings, the quality of the portfolio and the estimation of inherent credit losses in the loan portfolio. This comprehensive process also assists in the prompt identification of problem credits. The Company has taken a number of measures to manage the portfolios and reduce risk, particularly in the more problematic portfolios.

The Company employs a credit risk management process with defined policies, accountability and routine reporting to manage credit risk in the loan portfolio segments. Credit risk management is guided by a comprehensive Loan Policy that provides for a consistent and prudent approach to underwriting and approvals of credits. Within the Board approved Loan Policy, procedures exist that elevate the approval requirements as credits become larger and more complex. All loans are individually underwritten, risk-rated, approved, and monitored.

Responsibility and accountability for adherence to underwriting policies and accurate risk ratings lies in each portfolio segment. For the consumer portfolio segment, the risk management process focuses on managing customers who become delinquent in their payments. For the commercial and real estate portfolio segments, the risk management process focuses on underwriting new business and, on an ongoing basis, monitoring the credit of the portfolios. To ensure problem credits are identified on a timely basis, several specific portfolio reviews occur each year to assess the larger adversely rated credits for proper risk rating and accrual status.

Credit quality and trends in the loan portfolio segments are measured and monitored regularly. Detailed reports, by product, collateral, accrual status, etc., are reviewed by the Chief Credit Officer and reported to the Board of Directors.

A description of the general characteristics of the risk categories used by the Company is as follows:

•Pass - A pass loan is a strong credit with no existing or known potential weaknesses deserving of management’s close attention.

•Special Mention - A loan that has potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the institution's credit position at some future date. These loans are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification.

•Substandard - Substandard loans are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

•Doubtful - Loans classified Doubtful have all the weaknesses inherent in those classified Substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently known facts, conditions, and values, highly questionable and improbable.

•Loss - Loans classified Loss are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value but rather it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may be effected in the future.

The following tables summarize the risk category of the Company’s loan portfolio based upon the most recent analysis performed as of March 31, 2022 and December 31, 2021:


	Pass		Special Mention		Substandard		Doubtful		Total
	(dollars in thousands)
As of March 31, 2022
Real estate mortgages:
Construction and development	$	160,243	$	388	$	4,769	$	—	$	165,400
Residential	149,011		3,841		1,291		—		154,143
Commercial	739,916		15,830		9,939		—		765,685
Commercial and industrial	216,375		3,103		59		224		219,761
Consumer and other	9,054		20		3		—		9,077
Total	$	1,274,599	$	23,182	$	16,061	$	224	$	1,314,066
As of December 31, 2021
Real estate mortgages:
Construction and development	$	168,751	$	388	$	5,341	$	—	$	174,480
Residential	142,782		3,554		1,154		—		147,490
Commercial	691,863		16,371		8,307		—		716,541
Commercial and industrial	203,630		2,960		73		234		206,897
Consumer and other	8,682		21		6		—		8,709
Total	$	1,215,708	$	23,294	$	14,881	$	234	$	1,254,117

Past Due Loans

A loan is considered past due if any required principal and interest payments have not been received as of the date such payments were required to be made under the terms of the loan agreement. Generally, management places a loan on nonaccrual when there is a clear indication that the borrower’s cash flow may not be sufficient to meet payments as they become due, which is generally when a loan is 90 days past due. The following tables present the aging of the recorded investment in loans and leases as of March 31, 2022 and December 31, 2021:


			Past Due Status (Accruing Loans)
	Current		30-59 Days		60-89 Days		90+ Days		Total Past Due		Nonaccrual		Total
As of March 31, 2022
Real estate mortgages:
Construction and development	$	164,583	$	647	$	94	$	—	$	741	$	76	$	165,400
Residential	153,432		201		—		—		201		510		154,143
Commercial	762,558		739		—		—		739		2,388		765,685
Commercial and industrial	219,476		16		—		—		16		269		219,761
Consumer and other	9,074		—		—		—		—		3		9,077
Total	$	1,309,123	$	1,603	$	94	$	—	$	1,697	$	3,246	$	1,314,066
As of December 31, 2021
Real estate mortgages:
Construction and development	$	173,027	$	62	$	746	$	299	$	1,107	$	346	$	174,480
Residential	146,871		129		128		195		452		167		147,490
Commercial	714,092		1,775		—		—		1,775		674		716,541
Commercial and industrial	206,027		99		486		—		585		285		206,897
Consumer and other	8,673		30		—		—		30		6		8,709
Total	$	1,248,690	$	2,095	$	1,360	$	494	$	3,949	$	1,478	$	1,254,117

Allowance for Loans Losses

The following tables detail activity in the allowance for loan losses by portfolio segment as of March 31, 2022 and March 31, 2021. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.


	Real Estate		Commercial		Consumer		Total
Allowance for loan losses:
Balance at December 31, 2021	$	11,554	$	3,166	$	124	$	14,844
Provision (credit) for loan losses	(1,299)		2,009		(10)		700
Loans charged off	(66)		—		(6)		(72)
Recoveries of loans previously charged off	17		—		3		20
Ending balance at March 31, 2022	$	10,206	$	5,175	$	111	$	15,492
Ending balance - individually evaluated for impairment	$	400	$	269	$	—	$	669
Ending balance - collectively evaluated for impairment	9,743		4,906		111		14,760
Ending balance - loans acquired with deteriorated credit quality	63		—		—		63
Total ending balance at March 31, 2022	$	10,206	$	5,175	$	111	$	15,492
Loans:
Ending balance - individually evaluated for impairment	$	15,943	$	283	$	22	$	16,248
Ending balance - collectively evaluated for impairment	1,068,050		219,478		9,055		1,296,583
Ending balance - loans acquired with deteriorated credit quality	1,235		—		—		1,235
Total ending balance at March 31, 2022	$	1,085,228	$	219,761	$	9,077	$	1,314,066


	Real Estate		Commercial		Consumer		Total
Allowance for loan losses:
Balance at December 31, 2020	$	8,057	$	3,609	$	193	$	11,859
Provision (credit) for loan losses	1,231		(428)		(53)		750
Loans charged off	(16)		—		(2)		(18)
Recoveries of loans previously charged off	2		11		1		14
Ending balance at March 31, 2021	$	9,274	$	3,192	$	139	$	12,605
Ending balance - individually evaluated for impairment	$	357	$	390	$	12	$	759
Ending balance - collectively evaluated for impairment	8,823		2,802		127		11,752
Ending balance - loans acquired with deteriorated credit quality	94		—		—		94
Total ending balance at March 31, 2021	$	9,274	$	3,192	$	139	$	12,605
Loans:
Ending balance - individually evaluated for impairment	$	15,829	$	583	$	42	$	16,454
Ending balance - collectively evaluated for impairment	830,912		229,574		9,158		1,069,644
Ending balance - loans acquired with deteriorated credit quality	1,363		—		—		1,363
Total ending balance at March 31, 2021	$	848,104	$	230,157	$	9,200	$	1,087,461

Impaired Loans

A loan held for investment is considered impaired when, based on current information and events, it is probable that we will be unable to collect all amounts due (both principal and interest) according to the terms of the loan agreement. The following tables detail our impaired loans, by portfolio class as of March 31, 2022 and December 31, 2021.


	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
March 31, 2022
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	4,810	$	4,810	$	—	$	4,813
Residential	1,477		1,477		—		1,485
Commercial	7,891		7,891		—		7,922
Commercial and industrial	14		14		—		17
Consumer and other	22		22		—		23
Total with no related allowance recorded	14,214		14,214		—		14,260
With an allowance recorded:
Real estate mortgages:
Construction and development	234		234		62		236
Residential	362		433		97		364
Commercial	2,404		2,404		304		2,406
Commercial and industrial	269		269		269		276
Consumer and other	—		—		—		—
Total with an allowance recorded	3,269		3,340		732		3,282
Total impaired loans	$	17,483	$	17,554	$	732	$	17,542


	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
December 31, 2021
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	5,258	$	5,258	$	—	$	5,261
Residential	1,081		1,081		—		1,090
Commercial	7,992		7,992		—		7,993
Commercial and industrial	22		22		—		25
Consumer and other	15		15		—		16
Total with no related allowance recorded	14,368		14,368		—		14,385
With an allowance recorded:
Real estate mortgages:
Construction and development	370		370		148		370
Residential	633		704		125		636
Commercial	680		680		136		682
Commercial and industrial	285		285		292		289
Consumer and other	11		11		3		11
Total with an allowance recorded	1,979		2,050		704		1,988
Total impaired loans	$	16,347	$	16,418	$	704	$	16,373

A loan held for investment is considered impaired when, based on current information and events, it is probable that we will be unable to collect all amounts due (both principal and interest) according to the terms of the loan agreement. The following tables detail our interest income recognized on impaired loans, by portfolio class in the three months ended March 31, 2022 and 2021.


	Recorded Investment		Average Recorded Investment		Interest Income Recognized
Three Months Ended March 31, 2022
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	4,810	$	4,813	$	55
Residential	1,477		1,485		21
Commercial	7,891		7,922		115
Commercial and industrial	14		17		—
Consumer and other	22		23		—
Total with no related allowance recorded	14,214		14,260		191
With an allowance recorded:
Real estate mortgages:
Construction and development	234		236		3
Residential	362		364		4
Commercial	2,404		2,406		9
Commercial and industrial	269		276		6
Consumer and other	—		—		—
Total with an allowance recorded	3,269		3,282		22
Total impaired loans	$	17,483	$	17,542	$	213


	Recorded Investment		Average Recorded Investment		Interest Income Recognized
Three Months Ended March 31, 2021
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	5,511	$	5,511	$	41
Residential	2,396		2,405		23
Commercial	6,411		6,395		98
Commercial and industrial	200		208		3
Consumer and other	22		23		—
Total with no related allowance recorded	14,540		14,542		165
With an allowance recorded:
Real estate mortgages:
Construction and development	567		573		9
Residential	800		804		11
Commercial	1,507		1,517		22
Commercial and industrial	383		387		5
Consumer and other	20		21		—
Total with an allowance recorded	3,277		3,302		47
Total impaired loans	$	17,817	$	17,844	$	212

Loans

Portfolio Segments and Classes

The composition of loans, excluding loans held for sale, is summarized as follows:


	December 31,
	2021				2020
	Amount		% of Total		Amount		% of Total
	(in thousands, except percentages)
Real estate mortgages:
Construction and development	$	174,480	13.9	%	$	102,559	9.9	%
Residential	147,490		11.8	%	152,212		14.7	%
Commercial	716,541		57.1	%	514,923		49.8	%
Commercial and industrial	206,897		16.5	%	254,395		24.6	%
Consumer and other	8,709		0.7	%	9,644		1.0	%
Gross Loans	1,254,117		100.0	%	1,033,733		100.0	%
Deferred loan fees	(3,817)				(3,618)
Allowance for loan losses	(14,844)				(11,859)
Loans, net	$	1,235,456			$	1,018,256

In light of the U.S. and global economic crisis brought about by the COVID-19 pandemic, the Company has prioritized assisting its clients through this troubled time. The CARES Act provides for Paycheck Protection Program (PPP) loans to be made by banks to employers with less than 500 employees if they continue to employ their existing workers. As of December 31, 2021, the Company has outstanding 36 loans for a total amount of $9,203 under the PPP. At December 31, 2021, unaccreted deferred loan origination fees related to PPP loans totaled $298. PPP loan origination fees recorded as an adjustment to loan yield for the year were $2,677. These PPP loans are included within the commercial and industrial loan category in the table above.

The following describe risk characteristics relevant to each of the portfolio segments and classes:

Real estate - As discussed below, the Company offers various types of real estate loan products. All loans within this portfolio segment are particularly sensitive to the valuation of real estate:

NOTE 4. Loans (Continued)

Portfolio Segments and Classes (Continued)

Credit Risk Management

A description of the general characteristics of the risk categories used by the Company is as follows:

•Pass - A Pass loan is a strong credit with no existing or known potential weaknesses deserving of management’s close attention.

NOTE 4. Loans (Continued)

Credit Risk Management (Continued)

or in the institution's credit position at some future date. These loans are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification.

The following tables summarize the risk category of the Company’s loan portfolio based upon the most recent analysis performed as of December 31, 2021 and December 31, 2020:


	Pass		Special Mention		Substandard		Doubtful		Total
	(dollars in thousands)
As of December 31, 2021
Real estate mortgages:
Construction and development	$	168,751	$	388	$	5,341	$	—	$	174,480
Residential	142,782		3,554		1,154		—		147,490
Commercial	691,863		16,371		8,307		—		716,541
Commercial and industrial	203,630		2,960		73		234		206,897
Consumer and other	8,682		21		6		—		8,709
Total:	$	1,215,708	$	23,294	$	14,881	$	234	$	1,254,117

As of December 31, 2020
Real estate mortgages:
Construction and development	$	95,214	$	6,113	$	1,232	$	—	$	102,559
Residential	144,256		6,245		1,627		84		152,212
Commercial	471,555		36,754		6,614		—		514,923
Commercial and industrial	240,646		13,138		611		—		254,395
Consumer and other	8,186		1,435		23		—		9,644
Total:	$	959,857	$	63,685	$	10,107	$	84	$	1,033,733

Past Due Loans

NOTE 4. Loans (Continued)

Past Due Loans (Continued)

payments as they become due, which is generally when a loan is 90 days past due. The following tables present the aging of the recorded investment in loans as of December 31, 2021 and December 31, 2020:


			Past Due Status (Accruing Loans)
	Current		30-59 Days		60-89 Days		90+ Days		Total Past Due		Nonaccrual		Total
As of December 31, 2021
Real estate mortgages:
Construction and development	$	173,027	$	62	$	746	$	299	$	1,107	$	346	$	174,480
Residential	146,871		129		128		195		452		167		147,490
Commercial	714,092		1,775		—		—		1,775		674		716,541
Commercial and industrial	206,027		99		486		—		585		285		206,897
Consumer and other	8,673		30		—		—		30		6		8,709
Total:	$	1,248,690	$	2,095	$	1,360	$	494	$	3,949	$	1,478	$	1,254,117

As of December 31, 2020
Real estate mortgages:
Construction and development	$	101,375	$	117	$	90	$	—	$	207	$	977	$	102,559
Residential	150,837		382		94		42		518		857		152,212
Commercial	512,208		1,196		—		41		1,237		1,478		514,923
Commercial and industrial	252,473		626		1,212		—		1,838		84		254,395
Consumer and other	9,581		18		15		8		41		22		9,644
Total:	$	1,026,474	$	2,339	$	1,411	$	91	$	3,841	$	3,418	$	1,033,733

NOTE 4. Loans (Continued)

Allowance for Loans Losses

The following tables detail activity in the allowance for loan losses by portfolio segment as of December 31, 2021 and December 31, 2020. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.


	Real Estate		Commercial		Consumer		Total
Allowance for loan losses:
Balance at December 31, 2020	$	8,057	$	3,609	$	193	$	11,859
Provision (credit) for loan losses	3,516		(458)		(76)		2,982
Loans charged off	(44)		—		(2)		(46)
Recoveries of loans previously charged off	25		15		9		49
Ending balance at December 31, 2021	$	11,554	$	3,166	$	124	$	14,844

Ending balance - individually evaluated for impairment	$	340	$	292	$	3	$	635
Ending balance - collectively evaluated for impairment	11,145		2,874		121		14,140
Ending balance - loans acquired with deteriorated credit quality	69		—		—		69
Total ending balance at December 31, 2021	$	11,554	$	3,166	$	124	$	14,844

Loans:
Ending balance - individually evaluated for impairment	$	14,742	$	307	$	26	$	15,075
Ending balance - collectively evaluated for impairment	1,022,497		206,590		8,683		1,237,770
Ending balance - loans acquired with deteriorated credit quality	1,272		—		—		1,272
Total ending balance at December 31, 2021	$	1,038,511	$	206,897	$	8,709	$	1,254,117

NOTE 4. Loans (Continued)

Allowance for Loans Losses (Continued)


	Real Estate		Commercial		Consumer		Total
Allowance for loan losses:
Balance at December 31, 2019	$	7,254	$	1,885	$	126	$	9,265
Provision for loan losses	1,702		1,598		—		3,300
Loans charged off	(908)		—		(18)		(926)
Recoveries of loans previously charged off	9		126		85		220
Ending balance at December 31, 2020	$	8,057	$	3,609	$	193	$	11,859

Ending balance - individually evaluated for impairment	$	1,352	$	478	$	7	$	1,837
Ending balance - collectively evaluated for impairment	6,476		3,131		186		9,793
Ending balance - loans acquired with deteriorated credit quality	229		—		—		229
Total ending balance at December 31, 2020	$	8,057	$	3,609	$	193	$	11,859

Loans:
Ending balance - individually evaluated for impairment	$	11,527	$	856	$	37	$	12,420
Ending balance - collectively evaluated for impairment	756,489		253,539		9,607		1,019,635
Ending balance - loans acquired with deteriorated credit quality	1,678		—		—		1,678
Total ending balance at December 31, 2020	$	769,694	$	254,395	$	9,644	$	1,033,733

NOTE 4. Loans (Continued)

Impaired Loans


	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
December 31, 2021
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	5,258	$	5,258	$	—	$	5,261	$	205
Residential	1,081		1,081		—		1,090		90
Commercial	7,992		7,992		—		7,993		440
Commercial and industrial	22		22		—		25		3
Consumer and other	15		15		—		16		1
Total with no related allowance recorded	14,368		14,368		—		14,385		739

With an allowance recorded:
Real estate mortgages:
Construction and development	370		370		148		370		$	10
Residential	633		704		125		636		27
Commercial	680		680		136		682		32
Commercial and industrial	285		285		292		289		18
Consumer and other	11		11		3		11		1
Total with an allowance recorded	1,979		2,050		704		1,988		88
Total impaired loans:	$	16,347	$	16,418	$	704	$	16,373	$	827

NOTE 4. Loans (Continued)

Impaired Loans (Continued)


	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
December 31, 2020
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	977	$	977	$	—	$	970	$	18
Residential	1,537		1,537		—		1,669		93
Commercial	5,117		5,117		—		5,425		290
Commercial and industrial	65		65		—		91		6
Consumer and other	22		22		—		24		2
Total with no related allowance recorded	7,718		7,718		—		8,179		$	409

With an allowance recorded:
Real estate mortgages:
Construction and development	644		644		106		668		$	34
Residential	1,557		1,628		628		1,636		82
Commercial	3,373		3,373		847		3,526		194
Commercial and industrial	791		791		478		886		58
Consumer and other	15		15		7		15		—
Total with an allowance recorded	6,380		6,451		2,066		6,731		368
Total impaired loans:	$	14,098	$	14,169	$	2,066	$	14,910	$	777

Troubled Debt Restructurings

As of December 31, 2021, and 2020, impaired loans included $2,012 and $1,754, respectively, in loans that were classified as Troubled Debt Restructurings (TDRs). The restructuring of a loan is considered a TDR if both (i) the borrower is experiencing financial difficulties and (ii) the Company has granted a concession.

In assessing whether a borrower is experiencing financial difficulties, the Company considers information currently available regarding the financial condition of the borrower. This information includes, but is not limited to, whether (i) the borrower is currently in payment default on any of its debt; (ii) a payment default is probable in the foreseeable future without the modification; (iii) the borrower has declared or is in the process of declaring bankruptcy and (iv) the borrower’s projected cash flow is sufficient to satisfy contractual payments due under the original terms of the loan without a modification.

The Company considers all aspects of the modification to loan terms to determine whether or not a concession has been granted to the borrower. Key factors considered by the Company include the borrower’s ability to access funds at a market rate for debt with similar risk characteristics, the significance of the modification relative to unpaid principal balance or collateral value of the debt, and the significance of a delay in the timing of payments relative to the original contractual terms of the loan. The most common concessions granted by the Company generally include one or more modifications to the terms of the debt, such as (i) a reduction in the interest rate for the remaining life of the debt, (ii) an extension of the maturity date at an interest rate lower than the current market rate for new debt with similar risk, (iii) a temporary period of interest-only payments, and (iv) a reduction in the contractual payment amount for either a short period or remaining term of the loan.

As of December 31, 2021, and 2020, the Company had $1,072 and $1,275, respectively, in loans considered restructured that are not on nonaccrual status. Of the nonaccrual loans at December 31, 2021 and 2020, $940 and

NOTE 4. Loans (Continued)

Troubled Debt Restructurings (Continued)

$479, respectively, met the criteria for a TDR. A loan is placed back on accrual status when both principal andinterest are current, and it is probable that the Company will be able to collect all amounts due (both principal and interest) according to the terms of the loan agreement.

Recorded investment prior to modification reflects the Company’s recorded investment immediately before the modification. Recorded investment after modification represents the Company’s recorded investment at the end of the year. The following table summarizes the loans that were modified as a TDR during the years ended December 31, 2021 and 2020.


	Troubled Debt Restructurings
	Number of Loans	Recorded Investment Prior to Modification		Recorded Investment After Modification		Impact on the Allowance for Loan Losses
December 31, 2021
Real estate mortgages:
Construction and development	2	$	189	$	178	$	63
Residential	1	3		—		—
Commercial	2	537		510		—
Commercial and industrial	—	—		—		—
Consumer and other	—	—		—		—
Total	5	$	729	$	688	$	63

December 31, 2020
Real estate mortgages:
Construction and development	—	$	—	$	—	$	—
Residential	—	—		—		—
Commercial	—	—		—		—
Commercial and industrial	1	277		271		271
Consumer and other	1	16		15		7
Total	2	$	293	$	286	$	278

The Company considers a loan to have defaulted when it becomes 90 or more days delinquent under the modified terms, has been transferred to nonaccrual status subsequent to the modification or has been transferred to foreclosed assets. As of December 31, 2021, three loans modified in a TDR during the twelve months, subsequently defaulted. As of December 31, 2020, no loans modified in a TDR during the twelve months, subsequently defaulted.

FORECLOSED ASSETS

12 Months Ended

Dec. 31, 2021

Repossessed Assets [Abstract]

FORECLOSED ASSETS

A summary of foreclosed assets is presented as follows:


	December 31,
	2021		2020
Balance, beginning of year	$	10,224	$	7,042
Acquired through settlement of loans	100		10,088
Sales proceeds	(7,187)		(5,910)
Write-downs	—		(920)

Net gain (loss) on sales of foreclosed assets	(207)		76
Receivable from SBA	—		(152)
Balance, end of year	$	2,930	$	10,224

Net expenses related to foreclosed assets include the following:


	December 31,
	2021		2020
Net (gain) loss on sales of foreclosed assets	$	207	$	(76)
Write-downs	—		920
Operating expenses, net of rental income	(366)		102
Net (income) expense	$	(159)	$	946

The carrying amount of other real estate owned categorized as residential real estate at December 31, 2021 and 2020 was $60 and $145, respectively.

PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT

Premises and equipment is summarized as follows:


	December 31,
	2021		2020
Land and land improvements	$	8,169	$	8,169
Building	22,604		21,109
Furniture and equipment	4,785		7,260
	35,558		36,538
Accumulated depreciation	(8,514)		(12,112)
Total premises and equipment	$	27,044	$	24,426

LEASES

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

LEASES

LEASESThe Company leases certain office facilities under long-term operating lease agreements. The leases expire at various dates through 2024 and some include renewal options. Many of these leases require the payment of property taxes, insurance premiums, maintenance, utilities and other costs. In many cases, rentals are subject to increase in relation to a cost-of-living index. The Company accounts for lease and non-lease components together as a single lease component. The Company determines if an arrangement is a lease at inception. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option.

NOTE 7. LEASES (Continued)

Future minimum lease payments, as of December 31, 2021, on the leases described above, excluding any renewal options, are summarized as follows:


2022	$	160
2023	143
2024	58
	$	361

Rental expense included in the consolidated statements of income for the years ended December 31, 2021 and 2020 is $488 and $473, respectively.

The Company determines if an arrangement is a lease at inception of the contract and assesses the appropriate classification as operating or financing. Operating leases with terms greater than one year are included in right-of-use assets and lease liabilities on the Company's consolidated balance sheets. Agreements with both lease and non-lease components are accounted for separately, with only the lease component capitalized. Operating right-of-use assets and lease liabilities are recognized at the commencement date based on the present value of lease payments over the term using the interest rate implicit in the contract, when available, or the Company's incremental collateralized borrowing rate with similar terms.

The table below summarizes information related to the Company's operating leases as of and for the year ended December 31, 2021:


Operating lease right-of-use assets	$	338
Operating lease liabilities	$	339
Weighted average remaining operating lease term (in years)	1.7
Weighted average operating lease discount rate	4.5		%

Future obligations over the primary and renewal option terms of the Company’s long-term operating leases as of December 31, 2021, were as follows:


2022	$	156
2023	143
2024	58
Total Lease Payments	357
Less: Interest	(18)
Operating Lease Liability	$	339

DEPOSITS

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Banking and Thrift, Interest [Abstract]

DEPOSITS

Major classifications of deposits are as follows:


	March 31, 2022		December 31, 2021
Noninterest-bearing transaction	$	515,110	$	541,546
Interest-bearing transaction	749,119		704,326
Savings	62,462		56,715
Time deposits, $250,000 and under	189,172		224,556
Time deposits, over $250,000	25,976		29,308
	$	1,541,839	$	1,556,451

Brokered deposits totaled $34,110 at March 31, 2022 and December 31, 2021. The scheduled maturities of time deposits at March 31, 2022 are as follows:


April 1, 2022 to March 31, 2023	$	181,564
April 1, 2023 to March 31, 2024	12,514
April 1, 2024 to March 31, 2025	15,828
April 1, 2025 to March 31, 2026	3,597
April 1, 2026 to March 31, 2027	1,459
Thereafter	186
	$	215,148

At March 31, 2022 and December 31, 2021, overdrawn transaction accounts reclassified to loans totaled $131 and $208, respectively.

DEPOSITS

Major classifications of deposits are as follows:


	December 31,
	2021		2020
Noninterest-bearing transaction	$	541,546	$	290,867
Interest-bearing transaction	704,326		475,757
Savings	56,715		42,731
Time deposits, $250,000 and under	224,556		293,707
Time deposits, over $250,000	29,308		36,599
	$	1,556,451	$	1,139,661

NOTE 8. DEPOSITS (Continued)

Brokered deposits totaled $34,110 at December 31, 2021 and $34,151 at December 31, 2020. The scheduled maturities of time deposits at December 31, 2021 are as follows:


2022	$	212,370
2023	19,162
2024	17,192
2025	3,402
2026	1,552
Thereafter	186
Total	$	253,864

At December 31, 2021 and December 31, 2020, overdrawn transaction accounts reclassified to loans totaled $208 and $166, respectively.

BORROWINGS

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Debt Disclosure [Abstract]

BORROWINGS

SUBORDINATED NOTESOn June 23, 2016, the Company issued $4,500 of Fixed-to-Floating Rate Subordinated Notes due July 2026 (the “2026 Notes”). The 2026 Notes initially bore interest at 6.625% per annum, payable semi-annually in arrears on January 1 and July 1 of each year, commencing on January 1, 2017 until July 1, 2021. Thereafter and to, but excluding, the maturity date or earlier redemption, interest was payable quarterly in arrears, at an annual floating rate equal to three-month LIBOR as determined for the applicable quarterly period, plus 5.412%. The Company could, at its option, beginning on July 1, 2021 and on any scheduled interest payment date thereafter, redeem the 2026 Notes, in whole or in part, at a redemption price equal to the outstanding principal amount of the 2026 Notes to be redeemed plus accrued and unpaid interest to, but excluding, the date of redemption. Issuance costs related to the 2026 Notes totaled $79 and were netted against the subordinated notes liability on the balance sheet. At March 31, 2022 and December 31, 2021, there was no remaining balance of the debt issuance cost related to the 2026 Notes. On June 23, 2021, the Company redeemed all of the outstanding 2026 Notes.On February 7, 2022, the Company issued $48,000 of Fixed-to-Floating Rate Subordinated Notes due February 2032 (the “Notes”). The Notes bear interest at 3.50% per annum, payable quarterly in arrears. From and including February 7, 2027, to but excluding the maturity date or early redemption date, the interest rate will reset quarterly to a Three-Month Term Secured Overnight Financing Rate plus 205 basis points, payable quarterly in arrears. The Company will be entitled to redeem the Notes, in whole or in part, on any interest payment on or after February 7, 2027, and to redeem the Notes in whole upon certain other events. Issuance costs related to the Notes totaled $875 and have been netted against the subordinated notes liability on the balance sheet. At March 31, 2022, the remaining balance of the debt issuance cost was $846. The debt issuance costs are being amortized using the straight line method over sixty months and are recorded as a component of interest expense.

BORROWINGS

Note payable and subordinated notes consist of the following:


	December 31,
	2021		2020
Short-term variable $25 million line of credit with interest due quarterly at 90-Day LIBOR + 2.50%, maturity August 2022.	$	12,498	$	7,975

Short-term fixed rate Federal Home Loan Bank advances with interest and principal payments due at various maturity dates through 2023 and interest rates ranging from 0.31% to 0.57%.	25,950		30,900

Subordinated notes with interest due semi-annually beginning January 1, 2017 at a fixed rate of 6.625% through July 2021, then quarterly interest due based on LIBOR + 5.412% through maturity on July 1, 2026.	—		4,493
	$	38,448	$	43,368

Contractual maturities of other borrowings as of December 31, 2021 are as follows:


2022	$	32,448
2023	6,000




Total	$	38,448

The short-term variable $25.0 million line of credit from First Horizon Bank is collateralized by 100% of the capital stock of the Bank.

Advances from the Federal Home Loan Bank of Atlanta are secured by a blanket floating lien on qualifying commercial mortgages of approximately $66,623, residential mortgages of approximately $22,673, and on qualifying home equity lines of credit of approximately $5,006. At December 31, 2021 the Company had $25,950 in outstanding advances and approximately $68,352 was available for borrowing on lines with the FHLB.

At December 31, 2021, the Company has accommodations which allow the purchase of federal funds from several correspondent banks on an overnight basis at prevailing overnight market rates. These accommodations are subject to various restrictions as to their term and availability, and in most cases, must be repaid in less than a month. At December 31, 2021 and 2020, the Company had $0 outstanding under these arrangements. The Company may borrow up to $87,200 under these arrangements as of December 31, 2021.

NOTE 9. BORROWINGS (Continued)

Subordinated Notes

On June 23, 2016, the Company issued $4,500 of Fixed-to-Floating Rate Subordinated Notes due July 2026 (the “Notes”). The Notes initially bore interest at 6.625% per annum, payable semi-annually in arrears on January 1 and July 1 of each year, commencing on January 1, 2017 until July 1, 2021. Thereafter and to, but excluding, the maturity date or earlier redemption, interest was payable quarterly in arrears, at an annual floating rate equal to three-month LIBOR as determined for the applicable quarterly period, plus 5.412%. The Company could, at its option, beginning on July 1, 2021 and on any scheduled interest payment date thereafter, redeem the Notes, in whole or in part, at a redemption price equal to the outstanding principal amount of the Notes to be redeemed plus accrued and unpaid interest to, but excluding, the date of redemption. Issuance costs related to the Notes totaled $79 and have been netted against the subordinated notes liability on the balance sheet. At December 31, 2021 and December 31, 2020, the remaining balance of the debt issuance cost was $0 and $7, respectively. The debt issuance costs were being amortized using the straight-line method over sixty months and are recorded as a component of interest expense. On June 23, 2021, the Company redeemed all of the outstanding Notes.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1E
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
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-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

Risk Management Objective of Using Derivatives

The Company is exposed to certain risk arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its assets and liabilities and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates.

Non-designated Hedges

Derivatives not designated as hedges are not speculative and result from a service the Company provides to certain customers. The Company executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously hedged by offsetting derivatives that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. As the interest rate derivatives associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer derivatives and the offsetting derivatives are recognized directly in earnings.

Tabular Disclosure of Fair Values of Derivative Instruments on the Balance Sheet

recognized in income on derivatives as a fair value adjustment and fee income, for the three months ended March 31, 2022, were $15 and $0, respectively.


March 31, 2022						December 31, 2021
Derivatives not Designated as Hedging Instruments	Notional Amount		Balance Sheet Location	Fair Value		Derivatives not Designated as Hedging Instruments	Notional Amount		Balance Sheet Location	Fair Value
Interest Rate Products	$	76,883	Other Assets	$	4,278	Interest Rate Products	$	77,534	Other Assets	$	1,784
Interest Rate Products	76,883		Other Liabilities	(4,322)		Interest Rate Products	77,534		Other Liabilities	(1,843)

Credit-risk-related Contingent Features

Applicable for OTC derivatives with dealers

The Company has agreements with each of its derivative counterparties that contain a provision where if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations.

The Company has agreements with certain of its derivative counterparties that contain a provision where if the company fails to maintain its status as a well / adequate capitalized institution, then the Company could be required to post additional collateral.

As of March 31, 2022, the fair value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $4,240. If the Company had breached any of these provisions at March 31, 2022, it could have been required to settle its obligations under the agreements at their termination value of $4,240, less the required collateral of $4,470.

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

Risk Management Objective of Using Derivatives

Non-designated Hedges

Tabular Disclosure of Fair Values of Derivative Instruments on the Balance Sheet

The table below presents the fair value of the Company’s derivative financial instruments including the effects of offsetting as well as their classification on the consolidated balance sheets as of December 31, 2021 and December 31, 2020. As of December 31, 2021, the Company has posted cash collateral of $350. The amount of loss recognized in income on derivatives as a fair value adjustment and fee income, for the year ended December 31, 2021, were $29 and $960, respectively.


December 31, 2021						December 31, 2020
Derivatives not Designated as Hedging Instruments	Notional Amount		Balance Sheet Location	Fair Value		Derivatives not Designated as Hedging Instruments	Notional Amount		Balance Sheet Location	Fair Value
Interest Rate Products	$	77,534	Other Assets	$	1,784	Interest Rate Products	$	49,664	Other Assets	$	983
Interest Rate Products	77,534		Other Liabilities	(1,843)		Interest Rate Products	49,664		Other Liabilities	(1,013)

NOTE 10. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Continued)

Credit-risk-related Contingent Features

Applicable for OTC derivatives with dealers

As of December 31, 2021, the fair value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $1,827. If the Company had breached any of these provisions at December 31, 2021, it could have been required to settle its obligations under the agreements at their termination value of $1,827, less the required collateral of $350.

EMPLOYEE AND DIRECTOR BENEFITS

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

EMPLOYEE AND DIRECTOR BENEFITS

Incentive Stock Option Plan

The Company adopted an Incentive Stock Compensation Plan during 2007 which grants directors, key employees and others options to purchase shares of common stock of the Company. Options may be granted as incentive stock options or nonqualified stock options depending on the eligibility of the recipient. Option prices and terms are determined by a committee appointed by the Board of Directors. The plan provides for a total of 450,000 options to purchase common shares of the Company. During 2016, the Board of Directors of the Company approved to increase the total number of options available to the Plan from 450,000 to 675,000. In December 2017, the Board of Directors of the Company approved to further increase the total number of options available to the Plan from 675,000 to 975,000. During 2020, the Board of Directors of the Company approved to increase the total number of options available to the Plan from 975,000 to 1,400,000. As of December 31, 2021, there are 474,336 options under the plan available to be granted.

NOTE 11. EMPLOYEE AND DIRECTOR BENEFITS (Continued)

Incentive Stock Option Plan (Continued)

Other pertinent information related to the options is as follows:


	Number	Weighted Average Exercise Price
Year Ended December 31, 2021
Options outstanding, beginning of year	480,478	$	14.95
Granted	33,294	20.03
Exercised	(10,000)	10.00
Forfeited	(2,280)	20.10
Options outstanding, end of year	501,492	$	15.37
Weighted average remaining contractual life		6.46 years

Exercisable, end of year	327,526	$	13.79

Year Ended December 31, 2020
Options outstanding, beginning of year	373,392	$	13.55
Granted	113,086	19.49
Exercised	(1,000)	10.00
Forfeited	(5,000)	14.20
Options outstanding, end of year	480,478	$	14.95
Weighted average remaining contractual life		7.26 years

Exercisable, end of year	216,677	$	12.67

Exercisable options at December 31, 2021 were as follows:


Exercise Price		Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
					(in years)	(dollars in thousands)
$	10.00	115,000	$	10.00	4.09	$	1,101
14.00		24,000	14.00		5.33	134
14.00		7,200	14.00		5.67	40
14.00		4,000	14.00		6.00	22
14.50		73,000	14.50		6.09	370
14.50		9,000	14.50		6.42	46
14.50		4,800	14.50		6.92	24
16.00		50,261	16.00		7.09	179
22.75		6,000	22.75		7.84	—
20.10		20,512	20.10		8.09	—
20.10		9,753	20.10		8.18	—
14.98		2,000	14.98		8.84	9
18.34		2,000	18.34		9.01	2
		327,526	$	13.79	5.75	$	1,927

NOTE 11. EMPLOYEE AND DIRECTOR BENEFITS (Continued)

Incentive Stock Option Plan (Continued)

During 2020 and 2021, there were no vested stock options exchanged in a cashless exercise.

For the years ended December 31, 2021 and 2020, the Company recognized $362 and $349, respectively, in stock-based compensation expense related to stock option awards. As of December 31, 2021 and 2020, there is $537 and $587, respectively, of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the plan. The cost is expected to be recognized over a weighted average period of 1.66 years.

The fair value of each stock option award is estimated on the date of grant using a Black-Scholes-Merton valuation model that uses the assumptions noted in the following table. Expected volatilities are based on an average of traded community banks. The Company considers historical data and peer group data to estimate option exercise and employee termination within the valuation model; separate groups of employees that have similar historical exercise behavior are considered separately for valuation purposes. The expected term of options granted is based on the short-cut method and represents the period of time that options granted are expected to be outstanding. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant.

The following weighted average assumptions were used in the calculations for 2021 and 2020 as follows:


	December 31,
	2021			2020
Dividend yield	2.50		%	2.50		%
Weighted average volatility	65.43		%	29.15		%
Expected life in years	6.50 years			6.68 years
Risk-free interest rate	0.81		%	1.56		%
Weighted average grant-date fair value	$	9.77		$	4.22

Restricted Stock

During 2013, the Company amended the 2007 Incentive Stock Compensation Plan to allow for restricted stock awards. The Company awarded 24,985 shares of restricted stock during 2021 and 22,869 in 2020. The restriction is

NOTE 11. EMPLOYEE AND DIRECTOR BENEFITS (Continued)

Restricted Stock (Continued)

based upon continuous service and the shares will vest equally over three to five years. Nonvested restricted stock consists of the following:


	Number	Weighted Average Exercise Price
Year Ended December 31, 2021
Nonvested, beginning of year	39,169	$	17.80
Granted	24,985	20.03
Forfeited	—	—
Vested	(24,840)	17.36
Nonvested, end of year	39,314	$	19.50

Year Ended December 31, 2020
Nonvested, beginning of year	34,389	$	16.06
Granted	22,869	19.35
Forfeited	(268)	20.10
Vested	(17,821)	16.39
Nonvested, end of year	39,169	$	17.80

As of December 31, 2021, there was $477 of unrecognized compensation cost related to nonvested restricted stock awards. Expense for restricted stock awards of $463 and $390 was recorded for the years ended December 31, 2021 and 2020, respectively.

Supplemental Executive Retirement Plan

The Company sponsors a supplemental executive retirement plan (SERP) providing for death and retirement benefits for certain executive officers. In connection with the SERP plan, the Company has purchased annuity contracts and bank owned life insurance from various insurance entities. The Company is the annuity owner throughout the term of the contract and as such, the annuity payments are paid directly to the Company. The Company in turn will make the benefit payments to the executives upon retirement over the executives’ life using the funds received from the annuity contracts. The Company will accrue the total obligation under the SERP over the executive’s future service period to the date full eligibility for the benefit is attained. The amounts to be accrued shall result in an accrued amount at the full eligibility date equal to the then present value of all of the future benefits expected to be paid.

The Company has recorded a liability as of December 31, 2021 and 2020, amounting to $3,578 and $2,990, respectively, for the present value of the future benefits to be paid under the SERP, which is recorded in other liabilities on the consolidated balance sheets. Expense related to the SERP totaled $589 and $487 for the years ended December 31, 2021 and 2020, respectively.

Bank Owned Life Insurance

Investments in bank-owned life insurance programs are recorded at their respective cash surrender values. The cash surrender value and net interest earned on the related policies amounted to $22,201 and $497, respectively, as of and for the year ended December 31, 2021 and $22,458 and $528, respectively, as of and for the year ended December 31, 2020.

INCOME TAXES

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

INCOME TAXES

Income tax expense consists of the following:


	Years Ended December 31,
	2021		2020
Current	$	6,705	$	4,113
Deferred	(973)		(1,587)
Income tax expense	$	5,732	$	2,526

The Company’s income tax expense differs from the amounts computed by applying the federal income tax statutory rates to income before income taxes. A reconciliation of the differences as of December 31, 2021 and 2020 is as follows:


	Years Ended December 31,
	2021		2020
Income tax expense at federal statutory rate	$	5,102	$	3,073
State income tax	879		465
Tax exempt income	(210)		(170)
Nondeductible merger (credit) expenses	134		(685)
Other	(173)		(157)
Income tax expense	$	5,732	$	2,526

The components of deferred income taxes are as follows:


	December 31,
	2021		2020
Deferred income tax assets:
Loan loss reserves	$	3,812	$	2,982
Pre-opening and organization expenses	15		36
Deferred compensation	1,055		904
Intangible assets created from asset purchase	34		40
Loans purchased at a premium	68		142
Restricted stock	40		32
Deferred origination fees	795		642
	5,819		4,778
Deferred income tax liabilities:
Loans purchased at a discount	136		163
Depreciation	325		208
Intangible assets created from stock purchase	393		461
Other	161		115
Unrealized gain on securities available for sale	743		1,122
	1,758		2,069

Net deferred income tax asset	$	4,061	$	2,709

NOTE 12. INCOME TAXES (Continued)

The Company and its subsidiary are subject to U.S. federal income tax, as well as income tax within the States of Alabama and Georgia. The Company is no longer subject to examination by taxing authorities for years before 2018.

The deferred income tax asset is recorded in “Other assets” on the consolidated balance sheets.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

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+ Details

COMMITMENTS AND CONTINGENCIES

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

Loan Commitments

The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Such commitments involve, to varying degrees, elements of credit risk and interest rate risk in excess of the amount recognized in the balance sheets. The majority of all commitments to extend credit and standby letters of credit are variable rate instruments.

The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit is represented by the contractual amount of those instruments. The Company uses the same credit policies in making commitments as it does for on-balance sheet instruments. A summary of the Company’s commitments is as follows:


	March 31, 2022		December 31, 2021
Commitments to extend credit	$	313,155	$	314,194
Standby letters of credit	4,428		3,434
Total	$	317,583	$	317,628

Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the customer. Collateral held varies, but may include accounts receivable, inventory, property and equipment, residential real estate, and income-producing commercial properties.

Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Those letters of credit are primarily issued to support public and private borrowing arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers. Collateral held varies and is required in instances which the Company deems necessary.

The Company has not been required to perform on any standby letters of credit, and the Company has not incurred any losses on financial standby letters of credit for the three months ended March 31, 2022 and March 31, 2021.

Contingencies

In the normal course of business, the Company is involved in various legal proceedings. In the opinion of management, any liability resulting from such proceedings would not have a material effect on the Company’s financial statements.

COMMITMENTS AND CONTINGENCIES

Loan Commitments


	December 31,
	2021		2020
Commitments to extend credit	$	314,194	$	181,925
Standby letters of credit	3,434		2,814
Total	$	317,628	$	184,739

The Company has not been required to perform on any standby letters of credit, and the Company has not incurred any losses on financial standby letters of credit for the twelve months ended December 31, 2021 and December 31, 2020.

Contingencies

CONCENTRATIONS OF CREDIT	3 Months Ended	12 Months Ended
CONCENTRATIONS OF CREDIT	Mar. 31, 2022	Dec. 31, 2021
Risks and Uncertainties [Abstract]
CONCENTRATIONS OF CREDIT	CONCENTRATIONS OF CREDIT The Company originates primarily commercial, commercial real estate, residential real estate, and consumer loans to customers in Alabama and Georgia. The ability of the majority of the Company’s customers to honor their contractual loan obligations is dependent on the economy in these areas. Eighty-three percent of the Company’s loan portfolio is concentrated in real estate. A substantial portion of these loans are secured by real estate in the Company’s primary market area. In addition, a substantial portion of the other real estate owned is located in those same markets. Accordingly, the ultimate collectibility of the loan portfolio and the recovery of the carrying amount of the other real estate owned are susceptible to changes in market conditions in the Company’s primary market area. The other concentrations of credit by type of loan are set forth in Note 4. The Company, according to regulatory restrictions, may not generally extend credit to any single borrower or group of related borrowers on a secured basis in excess of 20% of capital, as defined, or approximately $41,298 or on an unsecured basis in excess of 10% of capital, as defined, or approximately $20,649.	CONCENTRATIONS OF CREDIT The Company originates primarily commercial, commercial real estate, residential real estate, and consumer loans to customers in Alabama and Georgia. The ability of the majority of the Company’s customers to honor their contractual loan obligations is dependent on the economy in these areas. Eighty-three percent of the Company’s loan portfolio is concentrated in real estate. A substantial portion of these loans are secured by real estate in the Company’s primary market area. In addition, a substantial portion of the other real estate owned is located in those same markets. Accordingly, the ultimate collectibility of the loan portfolio and the recovery of the carrying amount of the other real estate owned are susceptible to changes in market conditions in the Company’s primary market area. The other concentrations of credit by type of loan are set forth in Note 4. The Company, according to regulatory restrictions, may not generally extend credit to any single borrower or group of related borrowers on a secured basis in excess of 20% of capital, as defined, or approximately $36,317 or on an unsecured basis in excess of 10% of capital, as defined, or approximately $18,159.

STOCKHOLDERS’ EQUITY	3 Months Ended	12 Months Ended
STOCKHOLDERS’ EQUITY	Mar. 31, 2022	Dec. 31, 2021
Equity [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY As of March 31, 2022, the Company had 8,749,878 shares of common stock issued and outstanding and does not have any non-voting shares issued and outstanding. As of December 31, 2021, the Company had 9,012,857 shares of common stock issued and outstanding and does not have any non-voting shares issued and outstanding.	STOCKHOLDERS’ EQUITY As of December 31, 2021, the Company had 9,012,857 shares of common stock issued and outstanding. As of December 31, 2021, the Company does not have any non-voting shares issued and outstanding. As of December 31, 2020, the Company had 7,678,195 shares of common stock issued and outstanding, of which 805,715 shares were non-voting.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

REGULATORY MATTERS

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Regulatory Capital Requirements Under Banking Regulations [Abstract]

REGULATORY MATTERS

The Bank is subject to certain restrictions on the amount of dividends that may be declared without prior regulatory approval. At March 31, 2022, approximately $38,082 of retained earnings was available for dividend declaration without regulatory approval.

The Bank is also subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of its assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors.

assets, and of Tier 1 capital to average assets. In addition, the Bank is subject to an institution-specific capital buffer, which must exceed 2.50% to avoid limitations on distributions and discretionary bonus payments. Management believes, as of March 31, 2022 and December 31, 2021, that the Bank meets all capital adequacy requirements to which it is subject.

As of March 31, 2022, the Company and the Bank believe they are each well capitalized on a consolidated basis for bank regulatory purposes as their respective capital ratios exceed minimum total Tier 1 and CET1 risk-based capital ratios and Tier 1 leverage capital ratios as set forth in the following table. As a bank holding company with less than $3 billion in total consolidated assets, the Company is eligible to be treated as a “small bank holding company” under the Federal Reserve’s Small Bank Holding Company and Savings and Loan Holding Company Policy Statement. As a result, the Company’s capital adequacy is evaluated at the bank level and on a parent-only basis, and it is not subject to consolidated capital standards for regulatory purposes. The ratios set forth below as to the Company are for illustrative purposes in the event it were to become subject to consolidated capital standards for regulatory purposes. The column styled “Required for Capital Adequacy Purposes” includes the 2.5% capital conservation buffer.


	Actual				Required for Capital Adequacy Purposes				Minimums To Be “Well Capitalized” Under Prompt Corrective Action
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
As of March 31, 2022
Tier 1 capital (to average assets)
Company	$	154,648	8.75	%	$	70,717	4.00	%	$	—	—
Bank	$	192,383	10.88	%	$	70,717	4.00	%	$	88,396	5.00	%
CET 1 capital (to risk-weighted assets)
Company	$	154,648	9.90	%	$	109,331	7.00	%	$	—	—
Bank	$	192,383	12.32	%	$	109,331	7.00	%	$	101,522	6.50	%
Tier 1 capital (to risk-weighted assets)
Company	$	154,648	9.90	%	$	132,759	8.50	%	$	—	—
Bank	$	192,383	12.32	%	$	132,759	8.50	%	$	124,950	8.00	%
Total capital (to risk-weighted assets)
Company	$	218,140	13.97	%	$	163,997	10.50	%	$	—	—
Bank	$	207,875	13.31	%	$	163,997	10.50	%	$	156,187	10.00	%


	Actual				Required for Capital Adequacy Purposes				Minimums To Be “Well Capitalized” Under Prompt Corrective Action
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
As of December 31, 2021
Tier 1 capital (to average assets)
Company	$	156,723	9.74	%	$	64,376	4.00	%	$	—	—
Bank	$	168,027	10.44	%	$	64,376	4.00	%	$	80,470	5.00	%
CET 1 capital (to risk-weighted assets)
Company	$	156,723	10.35	%	$	106,019	7.00	%	$	—	—
Bank	$	168,027	11.09	%	$	106,019	7.00	%	$	98,446	6.50	%
Tier 1 capital (to risk-weighted assets)
Company	$	156,723	10.35	%	$	128,737	8.50	%	$	—	—
Bank	$	168,027	11.09	%	$	128,737	8.50	%	$	121,164	8.00	%
Total capital (to risk-weighted assets)
Company	$	171,567	11.33	%	$	159,028	10.50	%	$	—	—
Bank	$	182,871	12.07	%	$	159,028	10.50	%	$	151,455	10.00	%

REGULATORY MATTERS

The Bank is subject to certain restrictions on the amount of dividends that may be declared without prior regulatory approval. At December 31, 2021, approximately $33,247 of retained earnings was available for dividend declaration without regulatory approval.

Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios of total capital, Tier 1 capital, and common equity Tier 1 capital to risk-weighted assets, and of Tier 1 capital to average assets. In addition, the Bank is subject to an institution-specific capital buffer, which must exceed 2.50% to avoid limitations on distributions and discretionary bonus payments. Management believes, as of December 31, 2021 and December 31, 2020, that the Bank meets all capital adequacy requirements to which it is subject.

As of December 31, 2021, the Company and the Bank believe they are each well capitalized on a consolidated basis for bank regulatory purposes as their respective capital ratios exceed minimum total Tier 1 and CET1 risk-based capital ratios and Tier 1 leverage capital ratios as set forth in the following table. As a bank holding company with less than $3 billion in total consolidated assets, the Company is eligible to be treated as a “small bank holding company” under the Federal Reserve’s Small Bank Holding Company and Savings and Loan Holding Company Policy Statement. As a result, the Company’s capital adequacy is evaluated at the bank level and on a parent-only basis, and it is not subject to consolidated capital standards for regulatory purposes. The ratios set forth below as to the Company are for illustrative purposes in the event it were to become subject to consolidated capital standards for

NOTE 16. REGULATORY MATTERS (Continued)

regulatory purposes. The column styled “Required for Capital Adequacy Purposes” includes the 2.5% capital conservation buffer.


	Actual				Required for Capital Adequacy Purposes				Minimums To Be “Well Capitalized” Under Prompt Corrective Action

	Amount		Ratio		Amount		Ratio		Amount		Ratio
As of December 31, 2021

Tier 1 capital (to average assets)
Company	$	156,723	9.74	%	$	64,376	4.00	%	$	—	—
Bank	$	168,027	10.44	%	$	64,376	4.00	%	$	80,470	5.00	%

CET 1 capital (to risk-weighted assets)
Company	$	156,723	10.35	%	$	106,019	7.00	%	$	—	—
Bank	$	168,027	11.09	%	$	106,019	7.00	%	$	98,446	6.50	%

Tier 1 capital (to risk-weighted assets)
Company	$	156,723	10.35	%	$	128,737	8.50	%	$	—	—
Bank	$	168,027	11.09	%	$	128,737	8.50	%	$	121,164	8.00	%

Total capital (to risk-weighted assets)
Company	$	171,567	11.33	%	$	159,028	10.50	%	$	—	—
Bank	$	182,871	12.07	%	$	159,028	10.50	%	$	151,455	10.00	%

NOTE 16. REGULATORY MATTERS (Continued)


	Actual				Required for Capital Adequacy Purposes				Minimums To Be “Well Capitalized” Under Prompt Corrective Action

	Amount		Ratio		Amount		Ratio		Amount		Ratio
As of December 31, 2020

Tier 1 capital (to average assets)
Company	$	118,837	9.24	%	$	51,426	4.00	%	$	—	—
Bank	$	130,852	10.18	%	$	51,426	4.00	%	$	77,139	5.00	%

CET 1 capital (to risk-weighted assets)
Company	$	118,837	10.63	%	$	78,257	7.00	%	$	—	—
Bank	$	130,852	11.70	%	$	78,257	7.00	%	$	72,667	6.50	%

Tier 1 capital (to risk-weighted assets)
Company	$	118,837	10.63	%	$	95,026	8.50	%	$	—	—
Bank	$	130,852	11.70	%	$	95,026	8.50	%	$	89,436	8.00	%

Total capital (to risk-weighted assets)
Company	$	135,196	12.09	%	$	117,835	10.50	%	$	—	—
Bank	$	142,711	12.77	%	$	117,835	10.50	%	$	117,795	10.00	%

- Definition

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

+ References + Details

FAIR VALUE OF ASSETS AND LIABILITIES

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Fair Value Disclosures [Abstract]

FAIR VALUE OF ASSETS AND LIABILITIES

Determination of Fair Value

The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In accordance with the Fair Value Measurements and Disclosures topic (FASB ASC 820), the fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument.

The fair value guidance provides a consistent definition of fair value, which focuses on exit price in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions.

Fair Value Hierarchy

In accordance with this guidance, the Company groups its financial assets and financial liabilities generally measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value.


Level 1	–	Valuation is based on quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 assets and liabilities generally include debt and equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities.

Level 2	–	Valuation is based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. The valuation may be based on quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability.

Level 3	–	Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which determination of fair value requires significant management judgment or estimation.

A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

The following methods and assumptions were used by the Company in estimating fair value disclosures for financial instruments:

Cash and Cash Equivalents: The carrying amounts of cash and due from banks, interest-bearing deposits in banks, and federal funds sold make up cash and cash equivalents. The carrying amount of these short-term instruments approximate fair value.

Securities and Other Equity Securities: Where quoted prices are available in an active market, management classifies the securities within Level 1 of the valuation hierarchy. Level 1 securities include highly liquid government bonds and exchange-traded equities.

If quoted market prices are not available, management estimates fair values using pricing models and discounted cash flows that consider standard input factors such as observable market data, benchmark yields, interest rate volatilities, broker/dealer quotes, and credit spreads. Examples of such instruments, which would generally be classified within Level 2 of the valuation hierarchy, include GSE obligations, and state and municipal securities. Mortgage-backed securities are included in Level 2 if observable inputs are available. In certain cases where there is limited activity or less transparency around inputs to the valuation, those securities would be classified in Level 3.

Restricted Equity Securities: The carrying amount of restricted equity securities with no readily determinable fair value approximates fair value based on the redemption provisions of the issuers which is cost.

Loans Held for Sale: The carrying amounts of loans held for sale approximates fair value.

Loans: The carrying amount of variable-rate loans that reprice frequently and have no significant change in credit risk approximates fair value. The fair values of fixed rate loans is estimated based on discounted contractual cash flows using interest rates currently being offered for loans with similar terms to borrowers with similar credit quality.

Bank Owned Life Insurance: The carrying amount of bank owned life insurance approximates fair value.

Annuities: The carrying amounts of annuities approximate their fair values.

Deposits: The fair values disclosed for transaction deposits are, by definition, equal to the amount payable on demand at the reporting date (that is, their carrying amounts). Fair values for fixed rate certificates of deposit are estimated using a discounted cash flow calculation that applies market interest rates on comparable instruments to a schedule of aggregated expected monthly maturities on time deposits.

Other Borrowings: The fair value of fixed rate other borrowings is based on discounted contractual cash flows using interest rates currently being offered for borrowings of similar maturities. The fair values of the Company’s variable rate other borrowings approximate their carrying values.

Subordinated Notes: The carrying amounts of the subordinated notes approximate fair value.

Accrued Interest: The carrying amounts of accrued interest approximate fair value.

Trading Assets and Liabilities: The Company has derivative instruments in the form of interest rate swap agreements accounted for as trading assets and liabilities and carried at fair value. The fair value of these instruments is based on information obtained from a third party financial institution. The Company reflects these instruments within Level 2 of the valuation hierarchy.

Off-Balance Sheet Credit-Related Instruments: Fair values for off-balance sheet, credit-related financial instruments are based on fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the counterparties’ credit standing.

Assets Measured at Fair Value on a Recurring Basis

The only assets and liabilities measured at fair value on a recurring basis are our securities available for sale and swaps. There were no transfers between levels during the period. Information related to the Company’s assets and liabilities measured at fair value on a recurring basis at March 31, 2022 and December 31, 2021 is as follows:


	Fair Value Measurements At Reporting Date Using:
	Fair Value		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
March 31, 2022
U.S. Treasury securities	$	9,241	$	—	$	9,241	$	—
U.S. Government Sponsored Enterprises (GSEs)	8,039		—		8,039		—
State and municipal securities	54,646		—		54,646		—
Corporate debt securities	10,441		—		10,441		—
Asset based securities	10,005		—		10,005		—
Mortgage-backed GSE residential/multifamily and non-GSE	58,655		—		58,655		—
Other equity securities	8,937		4,854		—		4,083
Interest Rate Products - asset	4,278		—		4,278		—
Interest Rate Products - liabilities	(4,322)		—		(4,322)		—
December 31, 2021
U.S. Treasury securities	$	7,822	$	—	$	7,822	$	—
U.S. Government Sponsored Enterprises (GSEs)	9,193		—		9,193		—
State and municipal securities	56,781		—		56,781		—
Corporate debt securities	10,784		—		10,784		—
Asset based securities	10,472		—		10,472		—
Mortgage-backed GSE residential/multifamily and non-GSE	37,120		—		37,120		—
Other equity securities	9,232		4,985		—		4,247
Interest Rate Products - asset	1,784		—		1,784		—
Interest Rate Products - liabilities	(1,843)		—		(1,843)		—

Assets Measured at Fair Value on a Nonrecurring Basis

The Company may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis in accordance with U.S. generally accepted accounting principles. These include assets that are measure at the lower of cost or market that were recognized at fair value below cost at the end of the period. Assets measured at fair value on a nonrecurring basis are included in the table below as of March 31, 2022 and December 31, 2021:


	Fair Value Measurements At Reporting Date Using:
	Fair Value		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
March 31, 2022:
Impaired loans	$	8,329	$	—	$	—	$	8,329
Foreclosed assets	2,930		—		—		2,930
Totals	$	11,259	$	—	$	—	$	11,259


	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, 2021:
Impaired loans	$	7,718	$	—	$	—	$	7,718
Foreclosed assets	2,930		—		—		2,930
Totals	$	10,648	$	—	$	—	$	10,648

Impaired Loans

Loans considered impaired under ASC 310-10-35, Receivables, are loans for which, based on current information and events, it is probable that the Company will be unable to collect all principal and interest payments due in accordance with the contractual terms of the loan agreement. Impaired loans can be measured based on the present value of expected payments using the loan’s original effective rate as the discount rate, the loan’s observable market price, or the fair value of the collateral less estimated selling costs if the loan is collateral dependent.

The fair value of impaired loans were primarily measured based on the value of the collateral securing these loans. Impaired loans are classified within Level 3 of the fair value hierarchy. Collateral may be real estate and/or business assets including equipment, inventory, and/or accounts receivable. The Company generally determines the value of real estate collateral based on independent appraisals performed by qualified licensed appraisers. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Appraised values are discounted for estimated costs to sell and may be discounted further based on management’s historical knowledge, changes in market conditions from the date of the most recent appraisal, and/or management’s expertise and knowledge of the customer and the customer’s business. Such discounts by management are subjective and are typically significant unobservable inputs for determining fair value. Impaired loans are reviewed and evaluated on at least a quarterly basis for additional impairment and adjusted accordingly, based on the same factors discussed above.

Impaired loans, which are usually measured for impairment using the fair value of collateral, had a carrying amount of $17,483 and $16,347 with a specific valuation allowance of $732 and $704 at March 31, 2022 and December 31, 2021, respectively. Of the $17,483 and $16,347 impaired loan portfolio, $9,061 and $8,422 were carried at fair value as a result of charge offs, specific valuation allowances, and the fair market adjustments at March 31, 2022 and December 31, 2021, respectively. The remaining $8,422 and $7,925 was carried at cost, as the fair value of the collateral on these loans exceeded the book value for each individual credit at March 31, 2022 and December 31, 2021, respectively. Charge offs and changes in specific valuation allowances at March 31, 2022 and December 31, 2021 on impaired loans carried at fair value resulted in additional provision for loan losses of $111 and $40, respectively.

Foreclosed Assets

Foreclosed assets, consisting of properties/assets obtained through foreclosure or in satisfaction of loans, are initially recorded at fair value less estimated costs to sell upon transfer of the loans to foreclosed assets. Subsequently, foreclosed assets are carried at the lower of carrying value or fair value less estimated costs to sell. Fair values are generally based on third party appraisals of the property/assets and are classified within Level 3 of the fair value hierarchy. The appraisals are sometimes further discounted based on management’s historical knowledge, and/or changes in market conditions from the date of the most recent appraisal, and/or management’s expertise and knowledge of the customer and the customer’s business. Such discounts are typically significant unobservable inputs for determining fair value. In cases where the carrying amount exceeds the fair value, less estimated costs to sell, a loss is recognized in noninterest expense.

Quantitative Disclosures for Level 3 Fair Value Measurements

The Company had no Level 3 assets measured at fair value on a recurring basis at March 31, 2022 or December 31, 2021.

For Level 3 assets measured at fair value on a nonrecurring basis as of March 31, 2022, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying Amount

Valuation Technique

Significant Unobservable Input

Weighted Average of Input

Nonrecurring:

Impaired loans

8,329

Appraisal

Appraisal discounts (%)

15-20%

Foreclosed assets

2,930

Appraisal

Appraisal discounts (%)

10-15%

For Level 3 assets measured at fair value on a non-recurring basis as of December 31, 2021, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying Amount

Valuation Technique

Significant Unobservable Input

Weighted Average of Input

Nonrecurring:

Impaired loans

7,718

Appraisal

Appraisal discounts (%)

15-20%

Foreclosed assets

2,930

Appraisal

Appraisal discounts (%)

10-15%

Fair Value of Financial Instruments

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


	March 31, 2022
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	208,824	$	208,824	$	—	$	—
Securities available for sale	151,027		—		151,027		—
Other equity securities	8,937		4,854		—		4,083
Loans held for sale	2,509		—		2,509		—
Trading assets	4,278		—		4,278		—
Loans, net	1,294,578		—		1,277,836		8,329
Bank owned life insurance	29,343		—		29,343		—
Annuities	15,523		—		15,523		—
Accrued interest receivable	4,427		—		4,427		—
Restricted equity securities	2,825		—		—		2,825

Financial liabilities:
Deposits	$	1,541,839	$	—	$	1,469,334	$	—
Trading liabilities	4,322		—		4,322		—
FHLB advances	25,950		—		25,829		—
Other borrowings	—		—		—		—
Subordinated notes	47,154		—		47,154		—
Accrued interest payable	107		—		107		—


	December 31, 2021
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	283,956	$	283,956	$	—	$	—
Securities available for sale	132,172		—		132,172		—
Other equity securities	9,232		4,985		—		4,247
Loans held for sale	2,400		—		2,400		—
Trading assets	1,784		—		1,784		—
Loans, net	1,235,456		—		1,237,491		7,718
Bank owned life insurance	22,201		—		22,201		—
Annuities	12,888		—		12,888		—
Accrued interest receivable	4,170		—		4,170		—
Restricted equity securities	2,600		—		—		2,600

Financial liabilities:
Deposits	$	1,556,451	$	—	$	1,507,190	$	—
Trading liabilities	1,843		—		1,843		—
FHLB advances	25,950		—		25,926		—
Other borrowings	12,498		—		12,498		—
Subordinated notes	—		—		—		—
Accrued interest payable	132		—		132		—

FAIR VALUE OF ASSETS AND LIABILITIES

Determination of Fair Value

NOTE 17. FAIR VALUE OF ASSETS AND LIABILITIES (Continued)

Fair Value Hierarchy

Level 1 - Valuation is based on quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 assets and liabilities generally include debt and equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities.

Level 2 - Valuation is based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. The valuation may be based on quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability.

Level 3 - Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which determination of fair value requires significant management judgment or estimation.

A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

The following methods and assumptions were used by the Company in estimating fair value disclosures for financial instruments:

Loans Held for Sale: The carrying amounts of loans held for sale approximates fair value.

Bank Owned Life Insurance: The carrying amount of bank owned life insurance approximates fair value.

NOTE 17. FAIR VALUE OF ASSETS AND LIABILITIES (Continued)

Annuities: The carrying amounts of annuities approximate their fair values.

Other Borrowings: The fair value of fixed rate other borrowings is based on discounted contractual cash flows using interest rates currently being offered for borrowings of similar maturities. The fair values of the Company’s variable-rate other borrowings approximate their carrying values.

Subordinated Notes: The carrying amounts of the subordinated notes approximate fair value.

Accrued Interest: The carrying amounts of accrued interest approximate fair value.

NOTE 17. FAIR VALUE OF ASSETS AND LIABILITIES (Continued)

Assets Measured at Fair Value on a Recurring Basis

The only assets and liabilities measured at fair value on a recurring basis are our securities available for sale and swaps. There were no transfers between levels during the period. Information related to the Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2021 and December 31, 2020 is as follows:


	Fair Value Measurements At Reporting Date Using:
	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, 2021
U.S. Treasury securities	$	7,822	$	—	$	7,822	$	—
U.S. Government Sponsored Enterprises (GSEs)	9,193		—		9,193		—
State and municipal securities	56,781		—		56,781		—
Corporate debt securities	10,784		—		10,784		—
Asset based securities	10,472		—		10,472		—
Mortgage-backed GSE residential/multifamily and non GSE	37,120		—		37,120		—
Other equity securities	9,232		4,985		—		4,247
Interest Rate Products - asset	1,784		—		1,784		—
Interest Rate Products - liabilities	(1,843)		—		(1,843)		—

December 31, 2020
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	9,366		—		9,366		—
State and municipal securities	67,941		—		67,941		—
Corporate debt securities	8,469		—		8,469		—
Asset based securities	9,111		—		9,111		—
Mortgage-backed GSE residential/multifamily and non-GSE	19,114		—		19,114		—
Other equity securities	5,017		5,017		—		—
Interest Rate Products - asset	983		—		983		—
Interest Rate Products - liabilities	(1,013)		—		(1,013)		—

Assets Measured at Fair Value on a Nonrecurring Basis

NOTE 17. FAIR VALUE OF ASSETS AND LIABILITIES (Continued)

Assets Measured at Fair Value on a Nonrecurring Basis (Continued)

lower of cost or market that were recognized at fair value below cost at the end of the period. Assets measured at fair value on a nonrecurring basis are included in the table below as of December 31, 2021 and December 31, 2020:


	Fair Value Measurements At Reporting Date Using:
	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, 2021
Impaired loans	$	7,718	$	—	$	—	$	7,718
Foreclosed assets	2,930		—		—		2,930
Totals	$	10,648	$	—	$	—	10,648


	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, 2020
Impaired loans	$	4,392	$	—	$	—	$	4,392
Foreclosed assets	10,224		—		—		10,224
Totals	$	14,616	$	—	$	—	14,616

Impaired Loans

Impaired loans, which are usually measured for impairment using the fair value of collateral, had a carrying amount of $16,347 and $14,098 with a specific valuation allowance of $704 and $2,066 at December 31, 2021 and December 31, 2020, respectively. Of the $16,347 and $14,098 impaired loan portfolio, $8,422 and $6,458 were carried at fair value as a result of charge offs, specific valuation allowances, and the fair market adjustments at December 31, 2021 and December 31, 2020, respectively. The remaining $7,925 and $7,640 was carried at cost, as the fair value of the collateral on these loans exceeded the book value for each individual credit at December 31, 2021 and December 31, 2020, respectively. Charge offs and changes in specific valuation allowances at

NOTE 17. FAIR VALUE OF ASSETS AND LIABILITIES (Continued)

Impaired Loans (Continued)

December 31, 2021 and December 31, 2020 on impaired loans carried at fair value resulted in additional provision for loan losses of $40 and $1,828, respectively.

Foreclosed Assets

Quantitative Disclosures for Level 3 Fair Value Measurements

The table below includes a rollforward of the balance sheet amounts for the year ended December 31, 2021 and 2020 (including the change in fair value) for financial instruments classified by the Company within Level 3 of the valuation hierarchy measured at fair value on a recurring basis.


	December 31,
	2021		2020
Carrying value, beginning of period	$	—	$	—
Purchases	4,000		—
Net realized gains	247		—
Carrying value, end of period	$	4,247	$	—

For Level 3 assets measured at fair value on a recurring basis as of December 31, 2021, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying

Amount

Valuation

Technique

Significant

Unobservable

Input

Weighted

Average

of Input

Recurring:

Other equity securities

4,247

Discounted cash flow

Discount rate (%)

N/A

For Level 3 assets measured at fair value on a recurring basis as of December 31, 2020, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying

Amount

Valuation Technique

Significant

Unobservable

Input

Weighted

Average

of Input

Recurring:

Other equity securities

—

Discounted cash flow

Discount rate (%)

N/A

NOTE 17. FAIR VALUE OF ASSETS AND LIABILITIES (Continued)

Quantitative Disclosures for Level 3 Fair Value Measurements (Continued)

For Level 3 assets measured at fair value on a nonrecurring basis as of December 31, 2021, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying

Amount

Valuation

Technique

Significant

Unobservable

Input

Weighted

Average

of Input

Nonrecurring:

Impaired loans

7,718

Appraisal

Appraisal discounts (%)

15-20%

Foreclosed assets

2,930

Appraisal

Appraisal discounts (%)

10-15%

For Level 3 assets measured at fair value on a nonrecurring basis as of December 31, 2020, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying

Amount

Valuation

Technique

Significant

Unobservable

Input

Weighted

Average

of Input

Nonrecurring:

Impaired loans

4,392

Appraisal

Appraisal discounts (%)

15-20%

Foreclosed assets

10,224

Appraisal

Appraisal discounts (%)

10-15%

Fair Value of Financial Instruments

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


	December 31, 2021
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	283,956	$	283,956	$	—	$	—
Securities available for sale	132,172		—		132,172		—
Other equity securities	9,232		4,985		—		4,247
Loans held for sale	2,400		—		2,400		—
Trading assets	1,784		—		1,784		—
Loans, net	1,235,456		—		1,237,491		7,718
Bank owned life insurance	22,201		—		22,201		—
Annuities	12,888		—		12,888		—

Accrued interest receivable	4,170		—		4,170		—
Restricted equity securities	2,600		—		—		2,600

Financial liabilities:
Deposits	$	1,556,451	$	—	$	1,507,190	$	—
Trading liabilities	1,843		—		1,843		—
FHLB advances	25,950		—		25,926		—
Other borrowings	12,498		—		12,498		—
Subordinated notes	—		—		—		—
Accrued interest payable	132		—		132		—

NOTE 17. FAIR VALUE OF ASSETS AND LIABILITIES (Continued)

Fair Value of Financial Instruments (Continued)


	December 31, 2020
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	84,907	$	84,907	$	—	$	—
Securities available for sale	114,001		—		114,001		—
Other equity securities	5,017		5,017		—		—
Loans held for sale	5,696		—		5,696		—
Trading assets	983		—		983		—
Loans, net	1,018,256		—		1,030,104		4,392
Bank owned life insurance	22,458		—		22,458		—
Annuities	12,903		—		12,903		—

Accrued interest receivable	4,243		—		4,243		—
Restricted equity securities	3,224		—		—		3,224

Financial liabilities:
Deposits	$	1,139,661	$	—	$	1,140,979	$	—
Trading liabilities	1,013		—		1,013		—
FHLB advances	30,900		—		30,962		—
Other borrowings	7,975		—		7,975		—
Subordinated notes	4,493		—		4,493		—
Accrued interest payable	278		—		278		—

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

REVENUE FROM CONTRACTS WITH CUSTOMERS	12 Months Ended
REVENUE FROM CONTRACTS WITH CUSTOMERS	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	REVENUE FROM CONTRACTS WITH CUSTOMERS The majority of revenue-generating transactions are excluded from the scope of ASC 606, including revenue generated from financial instruments, such as securities and loans; SBA fees; income on bank owned life insurance contracts; and gains on sales of mortgage loans. Revenue-generating transactions that are within the scope of ASC 606, classified within noninterest income, are described as follows: Service charges on deposit accounts – represent service fees for monthly activity and maintenance on customer accounts. Attributes can be transaction-based, item-based or time-based. Revenue is recognized when the Company’s performance obligation is completed which is generally monthly for maintenance services or when a transaction is processed. Payment for such performance obligations are generally received at the time the performance obligations are satisfied. Interchange Income – bank card related fees primarily includes interchange income from client use of consumer and business debit cards. Interchange income is a fee paid by a merchant bank to the card-issuing bank through the interchange network. Interchange fees are set by the credit card associations and are based on cardholder purchase volumes. The Company records interchange income as transactions occur. This income is included in other noninterest income on the consolidated statements of income. Gains and Losses from the Sale of Foreclosed Assets – the performance obligation in the sale of foreclosed assets typically will be the delivery of control over the asset to the buyer. If the Company is not financing the sale, the transaction price is typically identified in the purchase and sale agreement. However, if the Company provides NOTE 18. REVENUE FROM CONTRACTS WITH CUSTOMERS (Continued) seller financing, the Company must determine a transaction price, depending on if the sale contract is at market terms and taking into account the credit risk inherent in the arrangement. Other non-interest income primarily includes income on bank owned life insurance contracts, both transaction-based fees and account maintenance fees. Transaction based fees are recognized at the time the transaction is executed as that is the point in time the Company fulfills the customer’s request. Other account maintenance fees are recognized over time, usually on a monthly basis, as the Company’s performance obligation for services is satisfied.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

PARENT COMPANY FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Disclosure [Abstract]

PARENT COMPANY FINANCIAL INFORMATION

The following information presents the condensed balance sheets of Southern States Bancshares, Inc. as of December 31, 2021 and 2020, and the condensed statements of income and cash flows for the years then ended.


CONDENSED BALANCE SHEET	2021		2020
Assets:
Cash	$	399	$	161
Investment in subsidiary	188,503		152,671
Other assets	794		319
Total assets	189,696		153,151

Liabilities and stockholders’ equity:
Other borrowings	$	12,498	$	7,975
Subordinated debt	—		4,493
Accrued interest	—		27
Total liabilities	12,498		12,495

Stockholders’ equity	177,198		140,656

Total liabilities and stockholders’ equity	$	189,696	$	153,151


CONDENSED STATEMENTS OF INCOME	2021		2020

Income
Dividend income from subsidiary	$	2,826	$	1,842
	2,826		1,842
Expense
Interest expense	412		675
Other	1,054		847
	1,466		1,522
Income before income tax benefits and equity in undistributed earnings of subsidiary	1,360		320

Income tax benefits	294		320

Income before equity in undistributed earnings of subsidiary	1,654		640

Equity in undistributed earnings of subsidiary	16,913		11,467

Net income	$	18,567	$	12,107

NOTE 19. PARENT COMPANY FINANCIAL INFORMATION (Continued)


CONDENSED STATEMENTS OF CASH FLOW	2021		2020
OPERATING ACTIVITIES
Net income	$	18,567	$	12,107
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiary	(16,913)		(11,467)
Stock-based compensation	825		739
(Decrease) increase in accrued interest payable	(27)		15
Net other operating expenses	(84)		(87)
Net cash provided by operating activities	2,368		1,307

INVESTING ACTIVITIES
Investment in equity securities	(360)		—

Net cash used in investing activities	(360)		—

FINANCING ACTIVITIES
Net proceeds of note payable	4,500		—
Repayment of subordinated notes	(4,500)		—
Issuance of common stock	21,123		86
Capital contribution to subsidiary	(20,000)		—
Common stock dividends paid	(2,892)		(1,842)
Net cash used in financing activities	(1,769)		(1,756)

Net increase (decrease) in cash	239		(449)

Cash at beginning of year	161		610

Cash at end of year	$	400	$	161

RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2021

RELATED PARTY TRANSACTIONS

In the ordinary course of business, the Company conducts transactions with its directors and executive officers, including companies in which such directors and executive officers have a beneficial interest. It is the Company’s policy to comply with federal regulations that require that loan and deposit transactions with directors and executive officers be made on substantially the same terms as those prevailing at the time for comparable loans and deposits to other persons.

Deposits from related parties held by the Company at December 31, 2021 and 2020 totaled $8,678 and $9,976, respectively.

Changes in related party loans for the years ended December 31, 2021 and 2020 are as follows:


	December 31,
	2021		2020
Balance, beginning of year	$	8,041	$	6,809
Advances	2,176		3,952
Repayments	(2,894)		(2,720)
Balance, end of year	$	7,323	$	8,041

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On February 7, 2022, the Company entered into Subordinated Note Purchase Agreements (each, a “Purchase Agreement”) with certain institutional accredited investors and qualified institutional buyers (the “Purchasers” and each, a "Purchaser") pursuant to which the Company issued and sold in a private offering $48.0 million in aggregate NOTE 21. SUBSEQUENT EVENTS (Continued) principal amount of its 3.50% Fixed-to-Floating Rate Subordinated notes due 2032 (the “Notes”). The Company used a portion of the net proceeds to repay borrowings under its Line of Credit and to make purchases under the Program and intends to use the remaining proceeds for general corporate purposes, including capital and liquidity to support its growth and further purchases under the Program. The Notes mature on February 7, 2032 and bear interest at an initial fixed rate of 3.50% per annum, payable quarterly in arrears. From and including February 7, 2027, to but excluding the maturity date or early redemption date, the interest rate will reset quarterly to a Three-Month Term Secured Overnight Financing Rate plus 205 basis points, payable quarterly in arrears. The Company will be entitled to redeem the Notes, in whole or in part, on any interest payment on or after February 7, 2027, and to redeem the Notes in whole upon certain other events. On February 16, 2022, the Company announced that its Board of Directors approved a stock repurchase program (the "Program") that authorizes the Company to repurchase up to $10.0 million of its common stock. The Program will be in effect until December 31, 2022 with the timing of purchases and number of shares repurchased under the Program dependent upon a variety of factors including price, trading volume, corporate and regulatory requirements, and market conditions. The Company is not obligated to purchase any shares under the Program and the Program may be suspended or discontinued at any time without notice.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Business

Basis of Presentation and Accounting Estimates

The unaudited consolidated financial statements include the accounts of the Company and its subsidiary. Significant intercompany transactions and balances have been eliminated in consolidation.

The determination of the adequacy of the allowance for loan losses is based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions.

While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on changes in local economic conditions.

Cash, Cash Equivalents and Cash Flows

The Company maintains amounts due from banks which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts.

Securities

Other Equity Securities

The mutual funds owned by the Company are classified as equity securities and are carried at fair value with any periodic changes in value recorded through the income statement.

Restricted Equity Securities

Loans Held For Sale

Loans

Certain Purchased Loans

Allowance for Loan Losses

Troubled Debt Restructurings

Premises and Equipment


			Years
Buildings			10-39
Furniture and equipment			3-7

Transfers of Financial Assets

Foreclosed Assets

Goodwill

Core Deposit Intangible

Accounting Policy for Derivative Instruments and Hedging Activities

Income Taxes

Stock Compensation Plans

Comprehensive Income (Loss)

Fair Value of Financial Instruments

Revenue Recognition

Recent Accounting Pronouncements

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Business

Basis of Presentation and Accounting Estimates

The audited consolidated financial statements include the accounts of the Company and its subsidiary. Significant intercompany transactions and balances have been eliminated in consolidation.

The determination of the adequacy of the allowance for loan losses is based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions.

While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on changes in local economic conditions.

Cash, Cash Equivalents and Cash Flows

The Company maintains amounts due from banks which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts.

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Securities

Other Equity Securities

The mutual funds owned by the Bank are classified as equity securities and are carried at fair value with any periodic changes in value recorded through the income statement.

Restricted Equity Securities

Loans Held For Sale

Loans

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Loans (Continued)

Certain Purchased Loans

Allowance for Loan Losses

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Allowance for Loan Losses (Continued)

Troubled Debt Restructurings

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Premises and Equipment


			Years
Buildings			10-39
Furniture and equipment			3-7

Leases

Transfers of Financial Assets

Foreclosed Assets

Goodwill

Goodwill is not amortized but is evaluated for impairment on an annual basis or whenever an event occurs or circumstances change to indicate that it is more likely than not that an impairment loss has been incurred (i.e., a triggering event). The Company performed a goodwill impairment test in December 2021. The qualitative factors considered in determining if fair value of the unit was less than the carrying amount were economic conditions related to the COVID-19 virus and the change in the interest rate environment. A quantitative assessment of

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Goodwill (Continued)

goodwill impairment included determining the estimated fair value of Company using a market-based approach. It was determined there was no impairment.

Core Deposit Intangible

Accounting Policy for Derivative Instruments and Hedging Activities

Income Taxes

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Income Taxes (Continued)

Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more likely than not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more likely than-not recognition threshold considers the facts, circumstances, and information available at the reporting date and is subject to management’s judgment. Deferred tax assets may be reduced by deferred tax liabilities and a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. Management believes that the Company will generate sufficient operating earnings to realize the deferred tax benefits.

Stock Compensation Plans

Comprehensive Income

Fair Value of Financial Instruments

Revenue Recognition

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Recent Accounting Pronouncements

In February 2016 the Financial Accounting Standards Board (FASB) issued ASU 2016-02, “Leases (Topic 842)” to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and by disclosing key information about leasing arrangements. ASU 2016-02 requires organizations that lease assets (lessees) to recognize on the balance sheet the assets and liabilities for the rights and obligations created by the lease for all operating leases under current U.S. GAAP with a term of more than 12 months. The ASU is effective for non public business entities for fiscal years beginning after December 15, 2021. Early adoption is permitted. The ASU should be applied on a modified retrospective basis, with a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company adopted ASU 2016-02 on June 30, 2021 and there was no material impact on the Company’s consolidated financial statements.

In July 2018 the FASB issued ASU 2018-11, “Leases –Targeted Improvements” to provide entities with relief from the costs of implementing certain aspects of the new leasing standard, ASU 2016-02. Specifically, under the amendments in ASU 2018-11: (1) entities may elect not to recast the comparative periods presented when transitioning to the new leasing standard, and (2) lessors may elect not to separate lease and non-lease components when certain conditions are met. The amendments have the same effective date as ASU 2016-02 (January 1, 2022 for the Company). The Company adopted ASU 2018-11 on June 30, 2021 and there was no material impact on the Company’s consolidated financial statements.

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Recent Events

EARNINGS PER SHARE

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Earnings Per Share [Abstract]

EARNINGS PER SHARE

the assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options.


	For the Three Months Ended March 31,
	2022		2021
Basic Earnings Per Share:
Net Income	$	4,557	$	5,681
Weighted average common shares outstanding	8,935,384		7,681,578
Basic earnings per share	$	0.51	$	0.74
Diluted Earnings Per Share:
Net income allocated to common shareholders	$	4,549	$	5,674
Weighted average common shares outstanding	8,935,384		7,681,578
Net dilutive effect of:
Assumed exercises of stock options	129,980		113,281
Average shares and dilutive potential common shares	9,065,364		7,794,859
Dilutive earnings per share	$	0.50	$	0.73

EARNINGS PER SHARE


	For the Years Ended
	2021		2020
Basic Earnings Per Share:
Net Income	$	18,567	$	12,107
Weighted average common shares outstanding	8,198,188		7,673,085
Basic earnings per share	$	2.26	$	1.58
Diluted Earnings Per Share:
Net income allocated to common shareholders	$	18,538	$	12,095
Weighted average common shares outstanding	8,198,188		7,673,085
Net dilutive effect of:
Assumed exercises of stock options	118,348		92,778
Average shares and dilutive potential common shares	8,316,536		7,765,863
Dilutive earnings per share	$	2.23	$	1.56

SECURITIES

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

SECURITIES

The amortized cost and fair value of securities at March 31, 2022 and December 31, 2021 are summarized as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
March 31, 2022
Securities Available for Sale
U.S. Treasury securities	$	9,797	$	—	$	(556)	$	9,241
U.S. Government Sponsored Enterprises (GSEs)	8,453		—		(414)		8,039
State and municipal securities	56,963		607		(2,924)		54,646
Corporate debt securities	10,528		129		(216)		10,441
Asset based securities	10,096		14		(105)		10,005
Mortgage-backed GSE residential/multifamily and non-GSE	60,264		6		(1,615)		58,655
Total securities available for sale	$	156,101	$	756	$	(5,830)	$	151,027
Securities Held to Maturity


State and municipal securities	19,667		—		(1,440)		18,227



Total securities held to maturity	$	19,667	$	—	$	(1,440)	$	18,227
Total securities	$	175,768	$	756	$	(7,270)	$	169,254


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	7,820	$	22	$	(20)	$	7,822
U.S. Government Sponsored Enterprises (GSEs)	9,228		68		(103)		9,193
State and municipal securities	54,236		2,611		(66)		56,781
Corporate debt securities	10,530		289		(35)		10,784
Asset based securities	10,380		116		(24)		10,472
Mortgage-backed GSE residential/multifamily and non-GSE	37,123		185		(188)		37,120
Total securities available for sale	$	129,317	$	3,291	$	(436)	$	132,172
Securities Held to Maturity


State and municipal securities	19,672		364		(126)		19,910



Total securities held to maturity	$	19,672	$	364	$	(126)	$	19,910
Total securities	$	148,989	$	3,655	$	(562)	$	152,082


	March 31, 2022				December 31, 2021
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Securities Available for Sale
Due in less than one year	$	301	$	301	$	302	$	302
Due from one year to five years	6,997		6,881		2,766		2,790
Due after five to ten years	23,679		22,684		26,475		26,764
Due after ten years	64,860		62,506		62,651		65,196
Mortgage-backed securities	60,264		58,655		37,123		37,120
Total securities available for sale	$	156,101	$	151,027	$	129,317	$	132,172
Securities Held to Maturity
Due in less than one year	$	—	$	—	$	—	$	—
Due from one year to five years	—		—		—		—
Due after five to ten years	1,772		1,689		1,100		1,115
Due after ten years	17,895		16,538		18,572		18,795
Mortgage-backed securities	—		—		—		—
Total securities held to maturity	$	19,667	$	18,227	$	19,672	$	19,910
Total securities	$	175,768	$	169,254	$	148,989	$	152,082

Restricted equity securities as of March 31, 2022 and December 31, 2021 consist of the following:


	March 31,		December 31,
	2022		2021
Federal Home Loan Bank stock	$	1,900	$	1,675
First National Banker’s Bankshares, Inc. stock	675		675
Pacific Coast Banker’s Bank stock	250		250
Total restricted equity securities	$	2,825	$	2,600

Temporarily Impaired Securities


	Less Than Twelve Months				Over Twelve Months				Total Unrealized Losses
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
March 31, 2022
Securities Available for Sale
U.S. Treasury securities	$	(556)	$	9,241	$	—	$	—	$	(556)
U.S. Government Sponsored Enterprises (GSEs)	(215)		5,596		(199)		2,443		(414)
State and municipal securities	(2,924)		39,112		—		—		(2,924)
Corporate debt securities	(177)		5,351		(39)		711		(216)
Asset based securities	(101)		7,473		(4)		844		(105)
Mortgage-backed GSE residential/multifamily and non-GSE	(1,522)		41,499		(93)		2,442		(1,615)
Total securities available for sale	$	(5,495)	$	108,272	$	(335)	$	6,440	$	(5,830)
Securities Held to Maturity


State and municipal securities	(1,377)		17,786		(63)		441		(1,440)



Total securities held to maturity	$	(1,377)	$	17,786	$	(63)	$	441	$	(1,440)
Total securities	$	(6,872)	$	126,058	$	(398)	$	6,881	$	(7,270)


	Less Than Twelve Months				Over Twelve Months				Total Unrealized Losses
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value

December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	(20)	$	5,347	$	—	$	—	$	(20)
U.S. Government Sponsored Enterprises (GSEs)	(57)		1,946		(46)		1,899		(103)
State and municipal securities	(66)		6,270		—		—		(66)
Corporate debt securities	(35)		2,995		—		—		(35)
Asset based securities	(21)		2,842		(3)		879		(24)
Mortgage-backed GSE residential/multifamily and non-GSE	(158)		16,226		(30)		2,749		(188)
Total securities available for sale	$	(357)	$	35,626	$	(79)	$	5,527	$	(436)
Securities Held to Maturity


State and municipal securities	(126)		6,450		—		—		(126)



Total securities held to maturity	$	(126)	$	6,450	$	—	$	—	$	(126)
Total securities	$	(483)	$	42,076	$	(79)	$	5,527	$	(562)

Other-Than-Temporary Impairment

SECURITIES

The amortized cost and fair value of securities at December 31, 2021 and December 31, 2020 are summarized as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	7,820	$	22	$	(20)	$	7,822
U.S. Government Sponsored Enterprises (GSEs)	9,228		68		(103)		9,193
State and municipal securities	54,236		2,611		(66)		56,781
Corporate debt securities	10,530		289		(35)		10,784
Asset based securities	10,380		116		(24)		10,472
Mortgage-backed GSE residential/multifamily and non-GSE	37,123		185		(188)		37,120
Total securities available for sale	$	129,317	$	3,291	$	(436)	$	132,172

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—
State and municipal securities	19,672		364		(126)		19,910
Corporate debt securities	—		—		—		—
Asset based securities	—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—
Total securities held to maturity	$	19,672	$	364	$	(126)	$	19,910
Total securities	$	148,989	$	3,655	$	(562)	$	152,082

NOTE 3. SECURITIES (Continued)


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2020
Securities Available for Sale
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	9,154		246		(34)		9,366
State and municipal securities	64,468		3,531		(58)		67,941
Corporate debt securities	8,286		188		(5)		8,469
Asset based securities	9,035		76		—		9,111
Mortgage-backed GSE residential/multifamily and non-GSE	18,753		394		(33)		19,114
Total securities available for sale	$	109,696	$	4,435	$	(130)	$	114,001

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—
State and municipal securities	—		—		—		—
Corporate debt securities	—		—		—		—
Asset based securities	—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—
Total securities held to maturity	$	—	$	—	$	—	$	—
Total securities	$	109,696	$	4,435	$	(130)	$	114,001

NOTE 3. SECURITIES (Continued)


	December 31,
	2021				2020
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Securities Available for Sale
Due in less than one year	$	302	$	302	$	—	$	—
Due from one year to five years	2,766		2,790		1,200		1,241
Due after five to ten years	26,475		26,764		15,518		15,873
Due after ten years	62,651		65,196		74,225		77,773
Mortgage-backed securities	37,123		37,120		18,753		19,114
Total securities available for sale	$	129,317	$	132,172	$	109,696	$	114,001

Securities Held to Maturity
Due in less than one year	$	—	$	—	$	—	$	—
Due from one year to five years	—		—		—		—
Due after five to ten years	1,100		1,115		—		—
Due after ten years	18,572		18,795		—		—
Mortgage-backed securities	—		—		—		—
Total securities held to maturity	$	19,672	$	19,910	$	—	$	—
Total securities	$	148,989	$	152,082	$	109,696	$	114,001

Gains and losses on sales of securities available for sale for the years ended December 31, 2021 and December 31, 2020 consist of the following:


	Years Ended December 31,
	2021		2020
Gross gains	$	862	$	765
Gross losses	(919)		(23)
Net realized gains (losses)	$	(57)	$	742

Restricted equity securities as of December 31, 2021 and December 31, 2020 consist of the following:


	December 31,
	2021		2020
Federal Home Loan Bank stock	$	1,675	$	2,299
First National Banker’s Bankshares, Inc. stock	675		675
Pacific Coast Banker’s Bank stock	250		250
Total restricted equity securities	$	2,600	$	3,224

NOTE 3. SECURITIES (Continued)

Temporarily Impaired Securities


	Less Than Twelve Months				Over Twelve Months
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Total Unrealized Losses
December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	(20)	$	5,347	$	—	$	—	$	(20)
U.S. Government Sponsored Enterprises (GSEs)	(57)		1,946		(46)		1,899		(103)
State and municipal securities	(66)		6,270		—		—		(66)
Corporate debt securities	(35)		2,995		—		—		(35)
Asset based securities	(21)		2,842		(3)		879		(24)
Mortgage-backed GSE residential/multifamily and non-GSE	(158)		16,226		(30)		2,749		(188)
Total securities available for sale	$	(357)	$	35,626	$	(79)	$	5,527	$	(436)

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—		—
State and municipal securities	(126)		6,450		—		—		(126)
Corporate debt securities	—		—		—		—		—
Asset based securities	—		—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—		—
Total securities held to maturity	$	(126)	$	6,450	$	—	$	—	$	(126)
Total securities	$	(483)	$	42,076	$	(79)	$	5,527	$	(562)

NOTE 3. SECURITIES (Continued)

Temporarily Impaired Securities (Continued)


	Less Than Twelve Months				Over Twelve Months
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Total Unrealized Losses
December 31, 2020
Securities Available for Sale
U.S. Treasury securities	$	—	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	(34)		2,051		—		—		(34)
State and municipal securities	(58)		4,979		—		—		(58)
Corporate debt securities	(5)		1,495		—		—		(5)
Asset based securities	—		960		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	(33)		6,643		—		—		(33)
Total securities available for sale	$	(130)	$	16,128	$	—	$	—	$	(130)

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—		—
State and municipal securities	—		—		—		—		—
Corporate debt securities	—		—		—		—		—
Asset based securities	—		—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—		—
Total securities held to maturity	$	—	$	—	$	—	$	—	$	—
Total securities	$	(130)	$	16,128	$	—	$	—	$	(130)

Other-Than-Temporary Impairment

The Company routinely conducts periodic reviews to identify and evaluate each investment security to determine whether an other-than-temporary impairment has occurred. Factors included in the evaluation process may include geographic concentrations, credit ratings, and other performance indicators of the underlying asset. As of December 31, 2021 and December 31, 2020, no securities within the Company’s investment securities portfolio was considered other-than-temporarily impaired.

LOANS

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

LOANS

Portfolio Segments and Classes

The composition of loans, excluding loans held for sale, is summarized as follows:


	March 31, 2022				December 31, 2021
	Amount		% of Total		Amount		% of Total
	(in thousands, except percentages)
Real estate mortgages:
Construction and development	$	165,400	12.6	%	$	174,480	13.9	%
Residential	154,143		11.7	%	147,490		11.8	%
Commercial	765,685		58.3	%	716,541		57.1	%
Commercial and industrial	219,761		16.7	%	206,897		16.5	%
Consumer and other	9,077		0.7	%	8,709		0.7	%
Gross Loans	1,314,066		100.0	%	1,254,117		100.0	%
Deferred loan fees	(3,996)				(3,817)
Allowance for loan losses	(15,492)				(14,844)
Loans, net	$	1,294,578			$	1,235,456

The following describe risk characteristics relevant to each of the portfolio segments and classes:

Real estate - As discussed below, the Company offers various types of real estate loan products. All loans within this portfolio segment are particularly sensitive to the valuation of real estate:

Credit Risk Management

A description of the general characteristics of the risk categories used by the Company is as follows:

•Pass - A pass loan is a strong credit with no existing or known potential weaknesses deserving of management’s close attention.

The following tables summarize the risk category of the Company’s loan portfolio based upon the most recent analysis performed as of March 31, 2022 and December 31, 2021:


	Pass		Special Mention		Substandard		Doubtful		Total
	(dollars in thousands)
As of March 31, 2022
Real estate mortgages:
Construction and development	$	160,243	$	388	$	4,769	$	—	$	165,400
Residential	149,011		3,841		1,291		—		154,143
Commercial	739,916		15,830		9,939		—		765,685
Commercial and industrial	216,375		3,103		59		224		219,761
Consumer and other	9,054		20		3		—		9,077
Total	$	1,274,599	$	23,182	$	16,061	$	224	$	1,314,066
As of December 31, 2021
Real estate mortgages:
Construction and development	$	168,751	$	388	$	5,341	$	—	$	174,480
Residential	142,782		3,554		1,154		—		147,490
Commercial	691,863		16,371		8,307		—		716,541
Commercial and industrial	203,630		2,960		73		234		206,897
Consumer and other	8,682		21		6		—		8,709
Total	$	1,215,708	$	23,294	$	14,881	$	234	$	1,254,117

Past Due Loans


			Past Due Status (Accruing Loans)
	Current		30-59 Days		60-89 Days		90+ Days		Total Past Due		Nonaccrual		Total
As of March 31, 2022
Real estate mortgages:
Construction and development	$	164,583	$	647	$	94	$	—	$	741	$	76	$	165,400
Residential	153,432		201		—		—		201		510		154,143
Commercial	762,558		739		—		—		739		2,388		765,685
Commercial and industrial	219,476		16		—		—		16		269		219,761
Consumer and other	9,074		—		—		—		—		3		9,077
Total	$	1,309,123	$	1,603	$	94	$	—	$	1,697	$	3,246	$	1,314,066
As of December 31, 2021
Real estate mortgages:
Construction and development	$	173,027	$	62	$	746	$	299	$	1,107	$	346	$	174,480
Residential	146,871		129		128		195		452		167		147,490
Commercial	714,092		1,775		—		—		1,775		674		716,541
Commercial and industrial	206,027		99		486		—		585		285		206,897
Consumer and other	8,673		30		—		—		30		6		8,709
Total	$	1,248,690	$	2,095	$	1,360	$	494	$	3,949	$	1,478	$	1,254,117

Allowance for Loans Losses


	Real Estate		Commercial		Consumer		Total
Allowance for loan losses:
Balance at December 31, 2021	$	11,554	$	3,166	$	124	$	14,844
Provision (credit) for loan losses	(1,299)		2,009		(10)		700
Loans charged off	(66)		—		(6)		(72)
Recoveries of loans previously charged off	17		—		3		20
Ending balance at March 31, 2022	$	10,206	$	5,175	$	111	$	15,492
Ending balance - individually evaluated for impairment	$	400	$	269	$	—	$	669
Ending balance - collectively evaluated for impairment	9,743		4,906		111		14,760
Ending balance - loans acquired with deteriorated credit quality	63		—		—		63
Total ending balance at March 31, 2022	$	10,206	$	5,175	$	111	$	15,492
Loans:
Ending balance - individually evaluated for impairment	$	15,943	$	283	$	22	$	16,248
Ending balance - collectively evaluated for impairment	1,068,050		219,478		9,055		1,296,583
Ending balance - loans acquired with deteriorated credit quality	1,235		—		—		1,235
Total ending balance at March 31, 2022	$	1,085,228	$	219,761	$	9,077	$	1,314,066


	Real Estate		Commercial		Consumer		Total
Allowance for loan losses:
Balance at December 31, 2020	$	8,057	$	3,609	$	193	$	11,859
Provision (credit) for loan losses	1,231		(428)		(53)		750
Loans charged off	(16)		—		(2)		(18)
Recoveries of loans previously charged off	2		11		1		14
Ending balance at March 31, 2021	$	9,274	$	3,192	$	139	$	12,605
Ending balance - individually evaluated for impairment	$	357	$	390	$	12	$	759
Ending balance - collectively evaluated for impairment	8,823		2,802		127		11,752
Ending balance - loans acquired with deteriorated credit quality	94		—		—		94
Total ending balance at March 31, 2021	$	9,274	$	3,192	$	139	$	12,605
Loans:
Ending balance - individually evaluated for impairment	$	15,829	$	583	$	42	$	16,454
Ending balance - collectively evaluated for impairment	830,912		229,574		9,158		1,069,644
Ending balance - loans acquired with deteriorated credit quality	1,363		—		—		1,363
Total ending balance at March 31, 2021	$	848,104	$	230,157	$	9,200	$	1,087,461

Impaired Loans


	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
March 31, 2022
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	4,810	$	4,810	$	—	$	4,813
Residential	1,477		1,477		—		1,485
Commercial	7,891		7,891		—		7,922
Commercial and industrial	14		14		—		17
Consumer and other	22		22		—		23
Total with no related allowance recorded	14,214		14,214		—		14,260
With an allowance recorded:
Real estate mortgages:
Construction and development	234		234		62		236
Residential	362		433		97		364
Commercial	2,404		2,404		304		2,406
Commercial and industrial	269		269		269		276
Consumer and other	—		—		—		—
Total with an allowance recorded	3,269		3,340		732		3,282
Total impaired loans	$	17,483	$	17,554	$	732	$	17,542


	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
December 31, 2021
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	5,258	$	5,258	$	—	$	5,261
Residential	1,081		1,081		—		1,090
Commercial	7,992		7,992		—		7,993
Commercial and industrial	22		22		—		25
Consumer and other	15		15		—		16
Total with no related allowance recorded	14,368		14,368		—		14,385
With an allowance recorded:
Real estate mortgages:
Construction and development	370		370		148		370
Residential	633		704		125		636
Commercial	680		680		136		682
Commercial and industrial	285		285		292		289
Consumer and other	11		11		3		11
Total with an allowance recorded	1,979		2,050		704		1,988
Total impaired loans	$	16,347	$	16,418	$	704	$	16,373

A loan held for investment is considered impaired when, based on current information and events, it is probable that we will be unable to collect all amounts due (both principal and interest) according to the terms of the loan agreement. The following tables detail our interest income recognized on impaired loans, by portfolio class in the three months ended March 31, 2022 and 2021.


	Recorded Investment		Average Recorded Investment		Interest Income Recognized
Three Months Ended March 31, 2022
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	4,810	$	4,813	$	55
Residential	1,477		1,485		21
Commercial	7,891		7,922		115
Commercial and industrial	14		17		—
Consumer and other	22		23		—
Total with no related allowance recorded	14,214		14,260		191
With an allowance recorded:
Real estate mortgages:
Construction and development	234		236		3
Residential	362		364		4
Commercial	2,404		2,406		9
Commercial and industrial	269		276		6
Consumer and other	—		—		—
Total with an allowance recorded	3,269		3,282		22
Total impaired loans	$	17,483	$	17,542	$	213


	Recorded Investment		Average Recorded Investment		Interest Income Recognized
Three Months Ended March 31, 2021
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	5,511	$	5,511	$	41
Residential	2,396		2,405		23
Commercial	6,411		6,395		98
Commercial and industrial	200		208		3
Consumer and other	22		23		—
Total with no related allowance recorded	14,540		14,542		165
With an allowance recorded:
Real estate mortgages:
Construction and development	567		573		9
Residential	800		804		11
Commercial	1,507		1,517		22
Commercial and industrial	383		387		5
Consumer and other	20		21		—
Total with an allowance recorded	3,277		3,302		47
Total impaired loans	$	17,817	$	17,844	$	212

Loans

Portfolio Segments and Classes

The composition of loans, excluding loans held for sale, is summarized as follows:


	December 31,
	2021				2020
	Amount		% of Total		Amount		% of Total
	(in thousands, except percentages)
Real estate mortgages:
Construction and development	$	174,480	13.9	%	$	102,559	9.9	%
Residential	147,490		11.8	%	152,212		14.7	%
Commercial	716,541		57.1	%	514,923		49.8	%
Commercial and industrial	206,897		16.5	%	254,395		24.6	%
Consumer and other	8,709		0.7	%	9,644		1.0	%
Gross Loans	1,254,117		100.0	%	1,033,733		100.0	%
Deferred loan fees	(3,817)				(3,618)
Allowance for loan losses	(14,844)				(11,859)
Loans, net	$	1,235,456			$	1,018,256

In light of the U.S. and global economic crisis brought about by the COVID-19 pandemic, the Company has prioritized assisting its clients through this troubled time. The CARES Act provides for Paycheck Protection Program (PPP) loans to be made by banks to employers with less than 500 employees if they continue to employ their existing workers. As of December 31, 2021, the Company has outstanding 36 loans for a total amount of $9,203 under the PPP. At December 31, 2021, unaccreted deferred loan origination fees related to PPP loans totaled $298. PPP loan origination fees recorded as an adjustment to loan yield for the year were $2,677. These PPP loans are included within the commercial and industrial loan category in the table above.

The following describe risk characteristics relevant to each of the portfolio segments and classes:

Real estate - As discussed below, the Company offers various types of real estate loan products. All loans within this portfolio segment are particularly sensitive to the valuation of real estate:

NOTE 4. Loans (Continued)

Portfolio Segments and Classes (Continued)

Credit Risk Management

A description of the general characteristics of the risk categories used by the Company is as follows:

•Pass - A Pass loan is a strong credit with no existing or known potential weaknesses deserving of management’s close attention.

NOTE 4. Loans (Continued)

Credit Risk Management (Continued)

or in the institution's credit position at some future date. These loans are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification.

The following tables summarize the risk category of the Company’s loan portfolio based upon the most recent analysis performed as of December 31, 2021 and December 31, 2020:


	Pass		Special Mention		Substandard		Doubtful		Total
	(dollars in thousands)
As of December 31, 2021
Real estate mortgages:
Construction and development	$	168,751	$	388	$	5,341	$	—	$	174,480
Residential	142,782		3,554		1,154		—		147,490
Commercial	691,863		16,371		8,307		—		716,541
Commercial and industrial	203,630		2,960		73		234		206,897
Consumer and other	8,682		21		6		—		8,709
Total:	$	1,215,708	$	23,294	$	14,881	$	234	$	1,254,117

As of December 31, 2020
Real estate mortgages:
Construction and development	$	95,214	$	6,113	$	1,232	$	—	$	102,559
Residential	144,256		6,245		1,627		84		152,212
Commercial	471,555		36,754		6,614		—		514,923
Commercial and industrial	240,646		13,138		611		—		254,395
Consumer and other	8,186		1,435		23		—		9,644
Total:	$	959,857	$	63,685	$	10,107	$	84	$	1,033,733

Past Due Loans

NOTE 4. Loans (Continued)

Past Due Loans (Continued)


			Past Due Status (Accruing Loans)
	Current		30-59 Days		60-89 Days		90+ Days		Total Past Due		Nonaccrual		Total
As of December 31, 2021
Real estate mortgages:
Construction and development	$	173,027	$	62	$	746	$	299	$	1,107	$	346	$	174,480
Residential	146,871		129		128		195		452		167		147,490
Commercial	714,092		1,775		—		—		1,775		674		716,541
Commercial and industrial	206,027		99		486		—		585		285		206,897
Consumer and other	8,673		30		—		—		30		6		8,709
Total:	$	1,248,690	$	2,095	$	1,360	$	494	$	3,949	$	1,478	$	1,254,117

As of December 31, 2020
Real estate mortgages:
Construction and development	$	101,375	$	117	$	90	$	—	$	207	$	977	$	102,559
Residential	150,837		382		94		42		518		857		152,212
Commercial	512,208		1,196		—		41		1,237		1,478		514,923
Commercial and industrial	252,473		626		1,212		—		1,838		84		254,395
Consumer and other	9,581		18		15		8		41		22		9,644
Total:	$	1,026,474	$	2,339	$	1,411	$	91	$	3,841	$	3,418	$	1,033,733

NOTE 4. Loans (Continued)

Allowance for Loans Losses


	Real Estate		Commercial		Consumer		Total
Allowance for loan losses:
Balance at December 31, 2020	$	8,057	$	3,609	$	193	$	11,859
Provision (credit) for loan losses	3,516		(458)		(76)		2,982
Loans charged off	(44)		—		(2)		(46)
Recoveries of loans previously charged off	25		15		9		49
Ending balance at December 31, 2021	$	11,554	$	3,166	$	124	$	14,844

Ending balance - individually evaluated for impairment	$	340	$	292	$	3	$	635
Ending balance - collectively evaluated for impairment	11,145		2,874		121		14,140
Ending balance - loans acquired with deteriorated credit quality	69		—		—		69
Total ending balance at December 31, 2021	$	11,554	$	3,166	$	124	$	14,844

Loans:
Ending balance - individually evaluated for impairment	$	14,742	$	307	$	26	$	15,075
Ending balance - collectively evaluated for impairment	1,022,497		206,590		8,683		1,237,770
Ending balance - loans acquired with deteriorated credit quality	1,272		—		—		1,272
Total ending balance at December 31, 2021	$	1,038,511	$	206,897	$	8,709	$	1,254,117

NOTE 4. Loans (Continued)

Allowance for Loans Losses (Continued)


	Real Estate		Commercial		Consumer		Total
Allowance for loan losses:
Balance at December 31, 2019	$	7,254	$	1,885	$	126	$	9,265
Provision for loan losses	1,702		1,598		—		3,300
Loans charged off	(908)		—		(18)		(926)
Recoveries of loans previously charged off	9		126		85		220
Ending balance at December 31, 2020	$	8,057	$	3,609	$	193	$	11,859

Ending balance - individually evaluated for impairment	$	1,352	$	478	$	7	$	1,837
Ending balance - collectively evaluated for impairment	6,476		3,131		186		9,793
Ending balance - loans acquired with deteriorated credit quality	229		—		—		229
Total ending balance at December 31, 2020	$	8,057	$	3,609	$	193	$	11,859

Loans:
Ending balance - individually evaluated for impairment	$	11,527	$	856	$	37	$	12,420
Ending balance - collectively evaluated for impairment	756,489		253,539		9,607		1,019,635
Ending balance - loans acquired with deteriorated credit quality	1,678		—		—		1,678
Total ending balance at December 31, 2020	$	769,694	$	254,395	$	9,644	$	1,033,733

NOTE 4. Loans (Continued)

Impaired Loans


	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
December 31, 2021
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	5,258	$	5,258	$	—	$	5,261	$	205
Residential	1,081		1,081		—		1,090		90
Commercial	7,992		7,992		—		7,993		440
Commercial and industrial	22		22		—		25		3
Consumer and other	15		15		—		16		1
Total with no related allowance recorded	14,368		14,368		—		14,385		739

With an allowance recorded:
Real estate mortgages:
Construction and development	370		370		148		370		$	10
Residential	633		704		125		636		27
Commercial	680		680		136		682		32
Commercial and industrial	285		285		292		289		18
Consumer and other	11		11		3		11		1
Total with an allowance recorded	1,979		2,050		704		1,988		88
Total impaired loans:	$	16,347	$	16,418	$	704	$	16,373	$	827

NOTE 4. Loans (Continued)

Impaired Loans (Continued)


	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
December 31, 2020
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	977	$	977	$	—	$	970	$	18
Residential	1,537		1,537		—		1,669		93
Commercial	5,117		5,117		—		5,425		290
Commercial and industrial	65		65		—		91		6
Consumer and other	22		22		—		24		2
Total with no related allowance recorded	7,718		7,718		—		8,179		$	409

With an allowance recorded:
Real estate mortgages:
Construction and development	644		644		106		668		$	34
Residential	1,557		1,628		628		1,636		82
Commercial	3,373		3,373		847		3,526		194
Commercial and industrial	791		791		478		886		58
Consumer and other	15		15		7		15		—
Total with an allowance recorded	6,380		6,451		2,066		6,731		368
Total impaired loans:	$	14,098	$	14,169	$	2,066	$	14,910	$	777

Troubled Debt Restructurings

NOTE 4. Loans (Continued)

Troubled Debt Restructurings (Continued)


	Troubled Debt Restructurings
	Number of Loans	Recorded Investment Prior to Modification		Recorded Investment After Modification		Impact on the Allowance for Loan Losses
December 31, 2021
Real estate mortgages:
Construction and development	2	$	189	$	178	$	63
Residential	1	3		—		—
Commercial	2	537		510		—
Commercial and industrial	—	—		—		—
Consumer and other	—	—		—		—
Total	5	$	729	$	688	$	63

December 31, 2020
Real estate mortgages:
Construction and development	—	$	—	$	—	$	—
Residential	—	—		—		—
Commercial	—	—		—		—
Commercial and industrial	1	277		271		271
Consumer and other	1	16		15		7
Total	2	$	293	$	286	$	278

DEPOSITS

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Banking and Thrift, Interest [Abstract]

DEPOSITS

Major classifications of deposits are as follows:


	March 31, 2022		December 31, 2021
Noninterest-bearing transaction	$	515,110	$	541,546
Interest-bearing transaction	749,119		704,326
Savings	62,462		56,715
Time deposits, $250,000 and under	189,172		224,556
Time deposits, over $250,000	25,976		29,308
	$	1,541,839	$	1,556,451

Brokered deposits totaled $34,110 at March 31, 2022 and December 31, 2021. The scheduled maturities of time deposits at March 31, 2022 are as follows:


April 1, 2022 to March 31, 2023	$	181,564
April 1, 2023 to March 31, 2024	12,514
April 1, 2024 to March 31, 2025	15,828
April 1, 2025 to March 31, 2026	3,597
April 1, 2026 to March 31, 2027	1,459
Thereafter	186
	$	215,148

At March 31, 2022 and December 31, 2021, overdrawn transaction accounts reclassified to loans totaled $131 and $208, respectively.

DEPOSITS

Major classifications of deposits are as follows:


	December 31,
	2021		2020
Noninterest-bearing transaction	$	541,546	$	290,867
Interest-bearing transaction	704,326		475,757
Savings	56,715		42,731
Time deposits, $250,000 and under	224,556		293,707
Time deposits, over $250,000	29,308		36,599
	$	1,556,451	$	1,139,661

NOTE 8. DEPOSITS (Continued)

Brokered deposits totaled $34,110 at December 31, 2021 and $34,151 at December 31, 2020. The scheduled maturities of time deposits at December 31, 2021 are as follows:


2022	$	212,370
2023	19,162
2024	17,192
2025	3,402
2026	1,552
Thereafter	186
Total	$	253,864

At December 31, 2021 and December 31, 2020, overdrawn transaction accounts reclassified to loans totaled $208 and $166, respectively.

SUBORDINATED NOTES

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Debt Disclosure [Abstract]

SUBORDINATED NOTES

BORROWINGS

Note payable and subordinated notes consist of the following:


	December 31,
	2021		2020
Short-term variable $25 million line of credit with interest due quarterly at 90-Day LIBOR + 2.50%, maturity August 2022.	$	12,498	$	7,975

Short-term fixed rate Federal Home Loan Bank advances with interest and principal payments due at various maturity dates through 2023 and interest rates ranging from 0.31% to 0.57%.	25,950		30,900

Subordinated notes with interest due semi-annually beginning January 1, 2017 at a fixed rate of 6.625% through July 2021, then quarterly interest due based on LIBOR + 5.412% through maturity on July 1, 2026.	—		4,493
	$	38,448	$	43,368

Contractual maturities of other borrowings as of December 31, 2021 are as follows:


2022	$	32,448
2023	6,000




Total	$	38,448

The short-term variable $25.0 million line of credit from First Horizon Bank is collateralized by 100% of the capital stock of the Bank.

NOTE 9. BORROWINGS (Continued)

Subordinated Notes

- Definition

+ References

+ Details

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

Risk Management Objective of Using Derivatives

Non-designated Hedges

Tabular Disclosure of Fair Values of Derivative Instruments on the Balance Sheet

recognized in income on derivatives as a fair value adjustment and fee income, for the three months ended March 31, 2022, were $15 and $0, respectively.


March 31, 2022						December 31, 2021
Derivatives not Designated as Hedging Instruments	Notional Amount		Balance Sheet Location	Fair Value		Derivatives not Designated as Hedging Instruments	Notional Amount		Balance Sheet Location	Fair Value
Interest Rate Products	$	76,883	Other Assets	$	4,278	Interest Rate Products	$	77,534	Other Assets	$	1,784
Interest Rate Products	76,883		Other Liabilities	(4,322)		Interest Rate Products	77,534		Other Liabilities	(1,843)

Credit-risk-related Contingent Features

Applicable for OTC derivatives with dealers

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

Risk Management Objective of Using Derivatives

Non-designated Hedges

Tabular Disclosure of Fair Values of Derivative Instruments on the Balance Sheet


December 31, 2021						December 31, 2020
Derivatives not Designated as Hedging Instruments	Notional Amount		Balance Sheet Location	Fair Value		Derivatives not Designated as Hedging Instruments	Notional Amount		Balance Sheet Location	Fair Value
Interest Rate Products	$	77,534	Other Assets	$	1,784	Interest Rate Products	$	49,664	Other Assets	$	983
Interest Rate Products	77,534		Other Liabilities	(1,843)		Interest Rate Products	49,664		Other Liabilities	(1,013)

NOTE 10. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Continued)

Credit-risk-related Contingent Features

Applicable for OTC derivatives with dealers

COMMITMENTS AND CONTINGENCIES

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

Loan Commitments


	March 31, 2022		December 31, 2021
Commitments to extend credit	$	313,155	$	314,194
Standby letters of credit	4,428		3,434
Total	$	317,583	$	317,628

Contingencies

COMMITMENTS AND CONTINGENCIES

Loan Commitments


	December 31,
	2021		2020
Commitments to extend credit	$	314,194	$	181,925
Standby letters of credit	3,434		2,814
Total	$	317,628	$	184,739

Contingencies

CONCENTRATIONS OF CREDIT	3 Months Ended	12 Months Ended
CONCENTRATIONS OF CREDIT	Mar. 31, 2022	Dec. 31, 2021
Risks and Uncertainties [Abstract]
CONCENTRATIONS OF CREDIT	CONCENTRATIONS OF CREDIT The Company originates primarily commercial, commercial real estate, residential real estate, and consumer loans to customers in Alabama and Georgia. The ability of the majority of the Company’s customers to honor their contractual loan obligations is dependent on the economy in these areas. Eighty-three percent of the Company’s loan portfolio is concentrated in real estate. A substantial portion of these loans are secured by real estate in the Company’s primary market area. In addition, a substantial portion of the other real estate owned is located in those same markets. Accordingly, the ultimate collectibility of the loan portfolio and the recovery of the carrying amount of the other real estate owned are susceptible to changes in market conditions in the Company’s primary market area. The other concentrations of credit by type of loan are set forth in Note 4. The Company, according to regulatory restrictions, may not generally extend credit to any single borrower or group of related borrowers on a secured basis in excess of 20% of capital, as defined, or approximately $41,298 or on an unsecured basis in excess of 10% of capital, as defined, or approximately $20,649.	CONCENTRATIONS OF CREDIT The Company originates primarily commercial, commercial real estate, residential real estate, and consumer loans to customers in Alabama and Georgia. The ability of the majority of the Company’s customers to honor their contractual loan obligations is dependent on the economy in these areas. Eighty-three percent of the Company’s loan portfolio is concentrated in real estate. A substantial portion of these loans are secured by real estate in the Company’s primary market area. In addition, a substantial portion of the other real estate owned is located in those same markets. Accordingly, the ultimate collectibility of the loan portfolio and the recovery of the carrying amount of the other real estate owned are susceptible to changes in market conditions in the Company’s primary market area. The other concentrations of credit by type of loan are set forth in Note 4. The Company, according to regulatory restrictions, may not generally extend credit to any single borrower or group of related borrowers on a secured basis in excess of 20% of capital, as defined, or approximately $36,317 or on an unsecured basis in excess of 10% of capital, as defined, or approximately $18,159.

STOCKHOLDERS’ EQUITY	3 Months Ended	12 Months Ended
STOCKHOLDERS’ EQUITY	Mar. 31, 2022	Dec. 31, 2021
Equity [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY As of March 31, 2022, the Company had 8,749,878 shares of common stock issued and outstanding and does not have any non-voting shares issued and outstanding. As of December 31, 2021, the Company had 9,012,857 shares of common stock issued and outstanding and does not have any non-voting shares issued and outstanding.	STOCKHOLDERS’ EQUITY As of December 31, 2021, the Company had 9,012,857 shares of common stock issued and outstanding. As of December 31, 2021, the Company does not have any non-voting shares issued and outstanding. As of December 31, 2020, the Company had 7,678,195 shares of common stock issued and outstanding, of which 805,715 shares were non-voting.

- Definition

+ References

+ Details

REGULATORY MATTERS

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Regulatory Capital Requirements Under Banking Regulations [Abstract]

REGULATORY MATTERS


	Actual				Required for Capital Adequacy Purposes				Minimums To Be “Well Capitalized” Under Prompt Corrective Action
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
As of March 31, 2022
Tier 1 capital (to average assets)
Company	$	154,648	8.75	%	$	70,717	4.00	%	$	—	—
Bank	$	192,383	10.88	%	$	70,717	4.00	%	$	88,396	5.00	%
CET 1 capital (to risk-weighted assets)
Company	$	154,648	9.90	%	$	109,331	7.00	%	$	—	—
Bank	$	192,383	12.32	%	$	109,331	7.00	%	$	101,522	6.50	%
Tier 1 capital (to risk-weighted assets)
Company	$	154,648	9.90	%	$	132,759	8.50	%	$	—	—
Bank	$	192,383	12.32	%	$	132,759	8.50	%	$	124,950	8.00	%
Total capital (to risk-weighted assets)
Company	$	218,140	13.97	%	$	163,997	10.50	%	$	—	—
Bank	$	207,875	13.31	%	$	163,997	10.50	%	$	156,187	10.00	%


	Actual				Required for Capital Adequacy Purposes				Minimums To Be “Well Capitalized” Under Prompt Corrective Action
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
As of December 31, 2021
Tier 1 capital (to average assets)
Company	$	156,723	9.74	%	$	64,376	4.00	%	$	—	—
Bank	$	168,027	10.44	%	$	64,376	4.00	%	$	80,470	5.00	%
CET 1 capital (to risk-weighted assets)
Company	$	156,723	10.35	%	$	106,019	7.00	%	$	—	—
Bank	$	168,027	11.09	%	$	106,019	7.00	%	$	98,446	6.50	%
Tier 1 capital (to risk-weighted assets)
Company	$	156,723	10.35	%	$	128,737	8.50	%	$	—	—
Bank	$	168,027	11.09	%	$	128,737	8.50	%	$	121,164	8.00	%
Total capital (to risk-weighted assets)
Company	$	171,567	11.33	%	$	159,028	10.50	%	$	—	—
Bank	$	182,871	12.07	%	$	159,028	10.50	%	$	151,455	10.00	%

REGULATORY MATTERS

NOTE 16. REGULATORY MATTERS (Continued)

regulatory purposes. The column styled “Required for Capital Adequacy Purposes” includes the 2.5% capital conservation buffer.


	Actual				Required for Capital Adequacy Purposes				Minimums To Be “Well Capitalized” Under Prompt Corrective Action

	Amount		Ratio		Amount		Ratio		Amount		Ratio
As of December 31, 2021

Tier 1 capital (to average assets)
Company	$	156,723	9.74	%	$	64,376	4.00	%	$	—	—
Bank	$	168,027	10.44	%	$	64,376	4.00	%	$	80,470	5.00	%

CET 1 capital (to risk-weighted assets)
Company	$	156,723	10.35	%	$	106,019	7.00	%	$	—	—
Bank	$	168,027	11.09	%	$	106,019	7.00	%	$	98,446	6.50	%

Tier 1 capital (to risk-weighted assets)
Company	$	156,723	10.35	%	$	128,737	8.50	%	$	—	—
Bank	$	168,027	11.09	%	$	128,737	8.50	%	$	121,164	8.00	%

Total capital (to risk-weighted assets)
Company	$	171,567	11.33	%	$	159,028	10.50	%	$	—	—
Bank	$	182,871	12.07	%	$	159,028	10.50	%	$	151,455	10.00	%

NOTE 16. REGULATORY MATTERS (Continued)


	Actual				Required for Capital Adequacy Purposes				Minimums To Be “Well Capitalized” Under Prompt Corrective Action

	Amount		Ratio		Amount		Ratio		Amount		Ratio
As of December 31, 2020

Tier 1 capital (to average assets)
Company	$	118,837	9.24	%	$	51,426	4.00	%	$	—	—
Bank	$	130,852	10.18	%	$	51,426	4.00	%	$	77,139	5.00	%

CET 1 capital (to risk-weighted assets)
Company	$	118,837	10.63	%	$	78,257	7.00	%	$	—	—
Bank	$	130,852	11.70	%	$	78,257	7.00	%	$	72,667	6.50	%

Tier 1 capital (to risk-weighted assets)
Company	$	118,837	10.63	%	$	95,026	8.50	%	$	—	—
Bank	$	130,852	11.70	%	$	95,026	8.50	%	$	89,436	8.00	%

Total capital (to risk-weighted assets)
Company	$	135,196	12.09	%	$	117,835	10.50	%	$	—	—
Bank	$	142,711	12.77	%	$	117,835	10.50	%	$	117,795	10.00	%

- Definition

+ References + Details

FAIR VALUE OF ASSETS AND LIABILITIES

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Fair Value Disclosures [Abstract]

FAIR VALUE OF ASSETS AND LIABILITIES

Determination of Fair Value

Fair Value Hierarchy


Level 1	–	Valuation is based on quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 1 assets and liabilities generally include debt and equity securities that are traded in an active exchange market. Valuations are obtained from readily available pricing sources for market transactions involving identical assets or liabilities.

Level 2	–	Valuation is based on inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. The valuation may be based on quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability.

Level 3	–	Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which determination of fair value requires significant management judgment or estimation.

A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

The following methods and assumptions were used by the Company in estimating fair value disclosures for financial instruments:

Loans Held for Sale: The carrying amounts of loans held for sale approximates fair value.

Bank Owned Life Insurance: The carrying amount of bank owned life insurance approximates fair value.

Annuities: The carrying amounts of annuities approximate their fair values.

Subordinated Notes: The carrying amounts of the subordinated notes approximate fair value.

Accrued Interest: The carrying amounts of accrued interest approximate fair value.

Assets Measured at Fair Value on a Recurring Basis


	Fair Value Measurements At Reporting Date Using:
	Fair Value		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
March 31, 2022
U.S. Treasury securities	$	9,241	$	—	$	9,241	$	—
U.S. Government Sponsored Enterprises (GSEs)	8,039		—		8,039		—
State and municipal securities	54,646		—		54,646		—
Corporate debt securities	10,441		—		10,441		—
Asset based securities	10,005		—		10,005		—
Mortgage-backed GSE residential/multifamily and non-GSE	58,655		—		58,655		—
Other equity securities	8,937		4,854		—		4,083
Interest Rate Products - asset	4,278		—		4,278		—
Interest Rate Products - liabilities	(4,322)		—		(4,322)		—
December 31, 2021
U.S. Treasury securities	$	7,822	$	—	$	7,822	$	—
U.S. Government Sponsored Enterprises (GSEs)	9,193		—		9,193		—
State and municipal securities	56,781		—		56,781		—
Corporate debt securities	10,784		—		10,784		—
Asset based securities	10,472		—		10,472		—
Mortgage-backed GSE residential/multifamily and non-GSE	37,120		—		37,120		—
Other equity securities	9,232		4,985		—		4,247
Interest Rate Products - asset	1,784		—		1,784		—
Interest Rate Products - liabilities	(1,843)		—		(1,843)		—

Assets Measured at Fair Value on a Nonrecurring Basis


	Fair Value Measurements At Reporting Date Using:
	Fair Value		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
March 31, 2022:
Impaired loans	$	8,329	$	—	$	—	$	8,329
Foreclosed assets	2,930		—		—		2,930
Totals	$	11,259	$	—	$	—	$	11,259


	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, 2021:
Impaired loans	$	7,718	$	—	$	—	$	7,718
Foreclosed assets	2,930		—		—		2,930
Totals	$	10,648	$	—	$	—	$	10,648

Impaired Loans

Foreclosed Assets

Quantitative Disclosures for Level 3 Fair Value Measurements

The Company had no Level 3 assets measured at fair value on a recurring basis at March 31, 2022 or December 31, 2021.

For Level 3 assets measured at fair value on a nonrecurring basis as of March 31, 2022, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying Amount

Valuation Technique

Significant Unobservable Input

Weighted Average of Input

Nonrecurring:

Impaired loans

8,329

Appraisal

Appraisal discounts (%)

15-20%

Foreclosed assets

2,930

Appraisal

Appraisal discounts (%)

10-15%

For Level 3 assets measured at fair value on a non-recurring basis as of December 31, 2021, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying Amount

Valuation Technique

Significant Unobservable Input

Weighted Average of Input

Nonrecurring:

Impaired loans

7,718

Appraisal

Appraisal discounts (%)

15-20%

Foreclosed assets

2,930

Appraisal

Appraisal discounts (%)

10-15%

Fair Value of Financial Instruments

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


	March 31, 2022
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	208,824	$	208,824	$	—	$	—
Securities available for sale	151,027		—		151,027		—
Other equity securities	8,937		4,854		—		4,083
Loans held for sale	2,509		—		2,509		—
Trading assets	4,278		—		4,278		—
Loans, net	1,294,578		—		1,277,836		8,329
Bank owned life insurance	29,343		—		29,343		—
Annuities	15,523		—		15,523		—
Accrued interest receivable	4,427		—		4,427		—
Restricted equity securities	2,825		—		—		2,825

Financial liabilities:
Deposits	$	1,541,839	$	—	$	1,469,334	$	—
Trading liabilities	4,322		—		4,322		—
FHLB advances	25,950		—		25,829		—
Other borrowings	—		—		—		—
Subordinated notes	47,154		—		47,154		—
Accrued interest payable	107		—		107		—


	December 31, 2021
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	283,956	$	283,956	$	—	$	—
Securities available for sale	132,172		—		132,172		—
Other equity securities	9,232		4,985		—		4,247
Loans held for sale	2,400		—		2,400		—
Trading assets	1,784		—		1,784		—
Loans, net	1,235,456		—		1,237,491		7,718
Bank owned life insurance	22,201		—		22,201		—
Annuities	12,888		—		12,888		—
Accrued interest receivable	4,170		—		4,170		—
Restricted equity securities	2,600		—		—		2,600

Financial liabilities:
Deposits	$	1,556,451	$	—	$	1,507,190	$	—
Trading liabilities	1,843		—		1,843		—
FHLB advances	25,950		—		25,926		—
Other borrowings	12,498		—		12,498		—
Subordinated notes	—		—		—		—
Accrued interest payable	132		—		132		—

FAIR VALUE OF ASSETS AND LIABILITIES

Determination of Fair Value

NOTE 17. FAIR VALUE OF ASSETS AND LIABILITIES (Continued)

Fair Value Hierarchy

A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement.

The following methods and assumptions were used by the Company in estimating fair value disclosures for financial instruments:

Loans Held for Sale: The carrying amounts of loans held for sale approximates fair value.

Bank Owned Life Insurance: The carrying amount of bank owned life insurance approximates fair value.

NOTE 17. FAIR VALUE OF ASSETS AND LIABILITIES (Continued)

Annuities: The carrying amounts of annuities approximate their fair values.

Other Borrowings: The fair value of fixed rate other borrowings is based on discounted contractual cash flows using interest rates currently being offered for borrowings of similar maturities. The fair values of the Company’s variable-rate other borrowings approximate their carrying values.

Subordinated Notes: The carrying amounts of the subordinated notes approximate fair value.

Accrued Interest: The carrying amounts of accrued interest approximate fair value.

NOTE 17. FAIR VALUE OF ASSETS AND LIABILITIES (Continued)

Assets Measured at Fair Value on a Recurring Basis

The only assets and liabilities measured at fair value on a recurring basis are our securities available for sale and swaps. There were no transfers between levels during the period. Information related to the Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2021 and December 31, 2020 is as follows:


	Fair Value Measurements At Reporting Date Using:
	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, 2021
U.S. Treasury securities	$	7,822	$	—	$	7,822	$	—
U.S. Government Sponsored Enterprises (GSEs)	9,193		—		9,193		—
State and municipal securities	56,781		—		56,781		—
Corporate debt securities	10,784		—		10,784		—
Asset based securities	10,472		—		10,472		—
Mortgage-backed GSE residential/multifamily and non GSE	37,120		—		37,120		—
Other equity securities	9,232		4,985		—		4,247
Interest Rate Products - asset	1,784		—		1,784		—
Interest Rate Products - liabilities	(1,843)		—		(1,843)		—

December 31, 2020
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	9,366		—		9,366		—
State and municipal securities	67,941		—		67,941		—
Corporate debt securities	8,469		—		8,469		—
Asset based securities	9,111		—		9,111		—
Mortgage-backed GSE residential/multifamily and non-GSE	19,114		—		19,114		—
Other equity securities	5,017		5,017		—		—
Interest Rate Products - asset	983		—		983		—
Interest Rate Products - liabilities	(1,013)		—		(1,013)		—

Assets Measured at Fair Value on a Nonrecurring Basis

NOTE 17. FAIR VALUE OF ASSETS AND LIABILITIES (Continued)

Assets Measured at Fair Value on a Nonrecurring Basis (Continued)


	Fair Value Measurements At Reporting Date Using:
	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, 2021
Impaired loans	$	7,718	$	—	$	—	$	7,718
Foreclosed assets	2,930		—		—		2,930
Totals	$	10,648	$	—	$	—	10,648


	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, 2020
Impaired loans	$	4,392	$	—	$	—	$	4,392
Foreclosed assets	10,224		—		—		10,224
Totals	$	14,616	$	—	$	—	14,616

Impaired Loans

NOTE 17. FAIR VALUE OF ASSETS AND LIABILITIES (Continued)

Impaired Loans (Continued)

December 31, 2021 and December 31, 2020 on impaired loans carried at fair value resulted in additional provision for loan losses of $40 and $1,828, respectively.

Foreclosed Assets

Quantitative Disclosures for Level 3 Fair Value Measurements


	December 31,
	2021		2020
Carrying value, beginning of period	$	—	$	—
Purchases	4,000		—
Net realized gains	247		—
Carrying value, end of period	$	4,247	$	—

For Level 3 assets measured at fair value on a recurring basis as of December 31, 2021, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying

Amount

Valuation

Technique

Significant

Unobservable

Input

Weighted

Average

of Input

Recurring:

Other equity securities

4,247

Discounted cash flow

Discount rate (%)

N/A

For Level 3 assets measured at fair value on a recurring basis as of December 31, 2020, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying

Amount

Valuation Technique

Significant

Unobservable

Input

Weighted

Average

of Input

Recurring:

Other equity securities

—

Discounted cash flow

Discount rate (%)

N/A

NOTE 17. FAIR VALUE OF ASSETS AND LIABILITIES (Continued)

Quantitative Disclosures for Level 3 Fair Value Measurements (Continued)

For Level 3 assets measured at fair value on a nonrecurring basis as of December 31, 2021, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying

Amount

Valuation

Technique

Significant

Unobservable

Input

Weighted

Average

of Input

Nonrecurring:

Impaired loans

7,718

Appraisal

Appraisal discounts (%)

15-20%

Foreclosed assets

2,930

Appraisal

Appraisal discounts (%)

10-15%

For Level 3 assets measured at fair value on a nonrecurring basis as of December 31, 2020, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying

Amount

Valuation

Technique

Significant

Unobservable

Input

Weighted

Average

of Input

Nonrecurring:

Impaired loans

4,392

Appraisal

Appraisal discounts (%)

15-20%

Foreclosed assets

10,224

Appraisal

Appraisal discounts (%)

10-15%

Fair Value of Financial Instruments

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


	December 31, 2021
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	283,956	$	283,956	$	—	$	—
Securities available for sale	132,172		—		132,172		—
Other equity securities	9,232		4,985		—		4,247
Loans held for sale	2,400		—		2,400		—
Trading assets	1,784		—		1,784		—
Loans, net	1,235,456		—		1,237,491		7,718
Bank owned life insurance	22,201		—		22,201		—
Annuities	12,888		—		12,888		—

Accrued interest receivable	4,170		—		4,170		—
Restricted equity securities	2,600		—		—		2,600

Financial liabilities:
Deposits	$	1,556,451	$	—	$	1,507,190	$	—
Trading liabilities	1,843		—		1,843		—
FHLB advances	25,950		—		25,926		—
Other borrowings	12,498		—		12,498		—
Subordinated notes	—		—		—		—
Accrued interest payable	132		—		132		—

NOTE 17. FAIR VALUE OF ASSETS AND LIABILITIES (Continued)

Fair Value of Financial Instruments (Continued)


	December 31, 2020
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	84,907	$	84,907	$	—	$	—
Securities available for sale	114,001		—		114,001		—
Other equity securities	5,017		5,017		—		—
Loans held for sale	5,696		—		5,696		—
Trading assets	983		—		983		—
Loans, net	1,018,256		—		1,030,104		4,392
Bank owned life insurance	22,458		—		22,458		—
Annuities	12,903		—		12,903		—

Accrued interest receivable	4,243		—		4,243		—
Restricted equity securities	3,224		—		—		3,224

Financial liabilities:
Deposits	$	1,139,661	$	—	$	1,140,979	$	—
Trading liabilities	1,013		—		1,013		—
FHLB advances	30,900		—		30,962		—
Other borrowings	7,975		—		7,975		—
Subordinated notes	4,493		—		4,493		—
Accrued interest payable	278		—		278		—

- Definition

+ References + Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Accounting Policies [Abstract]

Basis of Presentation and Accounting Estimates

The unaudited consolidated financial statements include the accounts of the Company and its subsidiary. Significant intercompany transactions and balances have been eliminated in consolidation.

The determination of the adequacy of the allowance for loan losses is based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions.

While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on changes in local economic conditions.

Basis of Presentation and Accounting Estimates

The audited consolidated financial statements include the accounts of the Company and its subsidiary. Significant intercompany transactions and balances have been eliminated in consolidation.

The determination of the adequacy of the allowance for loan losses is based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions.

While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on changes in local economic conditions.

Cash, Cash Equivalents and Cash Flows

The Company maintains amounts due from banks which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts.

Cash, Cash Equivalents and Cash Flows

The Company maintains amounts due from banks which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts.

Securities and Other Equity Securities

Securities

Other Equity Securities

The mutual funds owned by the Company are classified as equity securities and are carried at fair value with any periodic changes in value recorded through the income statement.

Securities

Other Equity Securities

The mutual funds owned by the Bank are classified as equity securities and are carried at fair value with any periodic changes in value recorded through the income statement.

Restricted Equity Securities

Loans Held for Sale

Loans Held For Sale

Loans and Certain Purchased Loans

Loans

Certain Purchased Loans

Loans

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Loans (Continued)

Certain Purchased Loans

Allowance for Loan Losses

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Allowance for Loan Losses (Continued)

Troubled Debt Restructurings

Premises and Equipment


			Years
Buildings			10-39
Furniture and equipment			3-7

Premises and Equipment


			Years
Buildings			10-39
Furniture and equipment			3-7

Leases

LeasesThe Bank leases various premises and equipment. At the inception of the contract, the Bank determines if an arrangement is or contains a lease and will recognize on the balance sheet a lease asset for its right to use the underlying asset (“ROU”) and a lease liability for the corresponding lease obligation for contracts longer than a year. Both the asset and liability are initially measured at the present value of the future minimum lease payments over the lease term. In determining the present value of lease payments, the Bank uses our incremental borrowing rate as the discount rate for the leases.

Transfers of Financial Assets

Foreclosed Assets

Goodwill and Core Deposit Intangible

Goodwill

Core Deposit Intangible

Goodwill

Goodwill is not amortized but is evaluated for impairment on an annual basis or whenever an event occurs or circumstances change to indicate that it is more likely than not that an impairment loss has been incurred (i.e., a triggering event). The Company performed a goodwill impairment test in December 2021. The qualitative factors considered in determining if fair value of the unit was less than the carrying amount were economic conditions related to the COVID-19 virus and the change in the interest rate environment. A quantitative assessment of

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Goodwill (Continued)

goodwill impairment included determining the estimated fair value of Company using a market-based approach. It was determined there was no impairment.

Core Deposit Intangible

Accounting Policy for Derivative Instruments and Hedging Activities

Income Taxes

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Income Taxes (Continued)

Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more likely than not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more likely than-not recognition threshold considers the facts, circumstances, and information available at the reporting date and is subject to management’s judgment. Deferred tax assets may be reduced by deferred tax liabilities and a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. Management believes that the Company will generate sufficient operating earnings to realize the deferred tax benefits.

Stock Compensation Plans

Comprehensive Income (Loss)

Comprehensive Income

Fair Value of Financial Instruments

Revenue Recognition

Revenue RecognitionOn January 1, 2019, the Company adopted ASC 606 and all subsequent amendments (collectively ASC 606) which (1) creates a single framework for recognizing revenue from contracts with customers that fall within its scope and (2) revises when it is appropriate to recognize a gain (loss) from the transfer of nonfinancial assets, such as foreclosed assets. The majority of the Company’s revenues come from interest income and other sources, including loans and securities that are outside the scope of ASC 606. With the exception of gains/losses on sale of foreclosed assets, the Company’s services that fall within the scope of ASC 606 are presented within noninterest income and are recognized as revenue as the Company satisfies its obligations to the customer. Services within the scope of ASC 606 reported in noninterest income include service charges on deposit accounts, bank card services and interchange fees, and ATM fees.

Recent Accounting Pronouncements

In February 2016 the Financial Accounting Standards Board (FASB) issued ASU 2016-02, “Leases (Topic 842)” to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and by disclosing key information about leasing arrangements. ASU 2016-02 requires organizations that lease assets (lessees) to recognize on the balance sheet the assets and liabilities for the rights and obligations created by the lease for all operating leases under current U.S. GAAP with a term of more than 12 months. The ASU is effective for non public business entities for fiscal years beginning after December 15, 2021. Early adoption is permitted. The ASU should be applied on a modified retrospective basis, with a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company adopted ASU 2016-02 on June 30, 2021 and there was no material impact on the Company’s consolidated financial statements.

In July 2018 the FASB issued ASU 2018-11, “Leases –Targeted Improvements” to provide entities with relief from the costs of implementing certain aspects of the new leasing standard, ASU 2016-02. Specifically, under the amendments in ASU 2018-11: (1) entities may elect not to recast the comparative periods presented when transitioning to the new leasing standard, and (2) lessors may elect not to separate lease and non-lease components when certain conditions are met. The amendments have the same effective date as ASU 2016-02 (January 1, 2022 for the Company). The Company adopted ASU 2018-11 on June 30, 2021 and there was no material impact on the Company’s consolidated financial statements.

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Recent Events

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Accounting Policies [Abstract]

Basis of Presentation and Accounting Estimates

The unaudited consolidated financial statements include the accounts of the Company and its subsidiary. Significant intercompany transactions and balances have been eliminated in consolidation.

The determination of the adequacy of the allowance for loan losses is based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions.

While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on changes in local economic conditions.

Basis of Presentation and Accounting Estimates

The audited consolidated financial statements include the accounts of the Company and its subsidiary. Significant intercompany transactions and balances have been eliminated in consolidation.

The determination of the adequacy of the allowance for loan losses is based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions.

While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on changes in local economic conditions.

Cash, Cash Equivalents and Cash Flows

The Company maintains amounts due from banks which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts.

Cash, Cash Equivalents and Cash Flows

The Company maintains amounts due from banks which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts.

Securities and Other Equity Securities

Securities

Other Equity Securities

The mutual funds owned by the Company are classified as equity securities and are carried at fair value with any periodic changes in value recorded through the income statement.

Securities

Other Equity Securities

The mutual funds owned by the Bank are classified as equity securities and are carried at fair value with any periodic changes in value recorded through the income statement.

Restricted Equity Securities

Loans Held for Sale

Loans Held For Sale

Loans and Certain Purchased Loans

Loans

Certain Purchased Loans

Loans

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Loans (Continued)

Certain Purchased Loans

Allowance for Loan Losses

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Allowance for Loan Losses (Continued)

Troubled Debt Restructurings

Premises and Equipment


			Years
Buildings			10-39
Furniture and equipment			3-7

Premises and Equipment


			Years
Buildings			10-39
Furniture and equipment			3-7

Transfers of Financial Assets

Foreclosed Assets

Goodwill and Core Deposit Intangible

Goodwill

Core Deposit Intangible

Goodwill

Goodwill is not amortized but is evaluated for impairment on an annual basis or whenever an event occurs or circumstances change to indicate that it is more likely than not that an impairment loss has been incurred (i.e., a triggering event). The Company performed a goodwill impairment test in December 2021. The qualitative factors considered in determining if fair value of the unit was less than the carrying amount were economic conditions related to the COVID-19 virus and the change in the interest rate environment. A quantitative assessment of

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Goodwill (Continued)

goodwill impairment included determining the estimated fair value of Company using a market-based approach. It was determined there was no impairment.

Core Deposit Intangible

Accounting Policy for Derivative Instruments and Hedging Activities

Income Taxes

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Income Taxes (Continued)

Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term more likely than not means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more likely than not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more likely than-not recognition threshold considers the facts, circumstances, and information available at the reporting date and is subject to management’s judgment. Deferred tax assets may be reduced by deferred tax liabilities and a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. Management believes that the Company will generate sufficient operating earnings to realize the deferred tax benefits.

Stock Compensation Plans

Comprehensive Income (Loss)

Comprehensive Income

Fair Value of Financial Instruments

Revenue Recognition

Recent Accounting Pronouncements

In February 2016 the Financial Accounting Standards Board (FASB) issued ASU 2016-02, “Leases (Topic 842)” to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and by disclosing key information about leasing arrangements. ASU 2016-02 requires organizations that lease assets (lessees) to recognize on the balance sheet the assets and liabilities for the rights and obligations created by the lease for all operating leases under current U.S. GAAP with a term of more than 12 months. The ASU is effective for non public business entities for fiscal years beginning after December 15, 2021. Early adoption is permitted. The ASU should be applied on a modified retrospective basis, with a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company adopted ASU 2016-02 on June 30, 2021 and there was no material impact on the Company’s consolidated financial statements.

In July 2018 the FASB issued ASU 2018-11, “Leases –Targeted Improvements” to provide entities with relief from the costs of implementing certain aspects of the new leasing standard, ASU 2016-02. Specifically, under the amendments in ASU 2018-11: (1) entities may elect not to recast the comparative periods presented when transitioning to the new leasing standard, and (2) lessors may elect not to separate lease and non-lease components when certain conditions are met. The amendments have the same effective date as ASU 2016-02 (January 1, 2022 for the Company). The Company adopted ASU 2018-11 on June 30, 2021 and there was no material impact on the Company’s consolidated financial statements.

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Recent Events

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Property, Plant and Equipment

The estimated useful lives are as follows:


			Years
Buildings			10-39
Furniture and equipment			3-7

Premises and equipment is summarized as follows:


	December 31,
	2021		2020
Land and land improvements	$	8,169	$	8,169
Building	22,604		21,109
Furniture and equipment	4,785		7,260
	35,558		36,538
Accumulated depreciation	(8,514)		(12,112)
Total premises and equipment	$	27,044	$	24,426

EARNINGS PER SHARE (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Earnings Per Share [Abstract]

Schedule of Earnings Per Share


	For the Three Months Ended March 31,
	2022		2021
Basic Earnings Per Share:
Net Income	$	4,557	$	5,681
Weighted average common shares outstanding	8,935,384		7,681,578
Basic earnings per share	$	0.51	$	0.74
Diluted Earnings Per Share:
Net income allocated to common shareholders	$	4,549	$	5,674
Weighted average common shares outstanding	8,935,384		7,681,578
Net dilutive effect of:
Assumed exercises of stock options	129,980		113,281
Average shares and dilutive potential common shares	9,065,364		7,794,859
Dilutive earnings per share	$	0.50	$	0.73


	For the Years Ended
	2021		2020
Basic Earnings Per Share:
Net Income	$	18,567	$	12,107
Weighted average common shares outstanding	8,198,188		7,673,085
Basic earnings per share	$	2.26	$	1.58
Diluted Earnings Per Share:
Net income allocated to common shareholders	$	18,538	$	12,095
Weighted average common shares outstanding	8,198,188		7,673,085
Net dilutive effect of:
Assumed exercises of stock options	118,348		92,778
Average shares and dilutive potential common shares	8,316,536		7,765,863
Dilutive earnings per share	$	2.23	$	1.56

SECURITIES (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Schedule of Debt Securities, Available-for-sale

The amortized cost and fair value of securities at March 31, 2022 and December 31, 2021 are summarized as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
March 31, 2022
Securities Available for Sale
U.S. Treasury securities	$	9,797	$	—	$	(556)	$	9,241
U.S. Government Sponsored Enterprises (GSEs)	8,453		—		(414)		8,039
State and municipal securities	56,963		607		(2,924)		54,646
Corporate debt securities	10,528		129		(216)		10,441
Asset based securities	10,096		14		(105)		10,005
Mortgage-backed GSE residential/multifamily and non-GSE	60,264		6		(1,615)		58,655
Total securities available for sale	$	156,101	$	756	$	(5,830)	$	151,027
Securities Held to Maturity


State and municipal securities	19,667		—		(1,440)		18,227



Total securities held to maturity	$	19,667	$	—	$	(1,440)	$	18,227
Total securities	$	175,768	$	756	$	(7,270)	$	169,254


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	7,820	$	22	$	(20)	$	7,822
U.S. Government Sponsored Enterprises (GSEs)	9,228		68		(103)		9,193
State and municipal securities	54,236		2,611		(66)		56,781
Corporate debt securities	10,530		289		(35)		10,784
Asset based securities	10,380		116		(24)		10,472
Mortgage-backed GSE residential/multifamily and non-GSE	37,123		185		(188)		37,120
Total securities available for sale	$	129,317	$	3,291	$	(436)	$	132,172
Securities Held to Maturity


State and municipal securities	19,672		364		(126)		19,910



Total securities held to maturity	$	19,672	$	364	$	(126)	$	19,910
Total securities	$	148,989	$	3,655	$	(562)	$	152,082

The amortized cost and fair value of securities at December 31, 2021 and December 31, 2020 are summarized as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	7,820	$	22	$	(20)	$	7,822
U.S. Government Sponsored Enterprises (GSEs)	9,228		68		(103)		9,193
State and municipal securities	54,236		2,611		(66)		56,781
Corporate debt securities	10,530		289		(35)		10,784
Asset based securities	10,380		116		(24)		10,472
Mortgage-backed GSE residential/multifamily and non-GSE	37,123		185		(188)		37,120
Total securities available for sale	$	129,317	$	3,291	$	(436)	$	132,172

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—
State and municipal securities	19,672		364		(126)		19,910
Corporate debt securities	—		—		—		—
Asset based securities	—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—
Total securities held to maturity	$	19,672	$	364	$	(126)	$	19,910
Total securities	$	148,989	$	3,655	$	(562)	$	152,082

NOTE 3. SECURITIES (Continued)


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2020
Securities Available for Sale
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	9,154		246		(34)		9,366
State and municipal securities	64,468		3,531		(58)		67,941
Corporate debt securities	8,286		188		(5)		8,469
Asset based securities	9,035		76		—		9,111
Mortgage-backed GSE residential/multifamily and non-GSE	18,753		394		(33)		19,114
Total securities available for sale	$	109,696	$	4,435	$	(130)	$	114,001

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—
State and municipal securities	—		—		—		—
Corporate debt securities	—		—		—		—
Asset based securities	—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—
Total securities held to maturity	$	—	$	—	$	—	$	—
Total securities	$	109,696	$	4,435	$	(130)	$	114,001

Schedule of Debt Securities, Held-to-maturity

The amortized cost and fair value of securities at March 31, 2022 and December 31, 2021 are summarized as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
March 31, 2022
Securities Available for Sale
U.S. Treasury securities	$	9,797	$	—	$	(556)	$	9,241
U.S. Government Sponsored Enterprises (GSEs)	8,453		—		(414)		8,039
State and municipal securities	56,963		607		(2,924)		54,646
Corporate debt securities	10,528		129		(216)		10,441
Asset based securities	10,096		14		(105)		10,005
Mortgage-backed GSE residential/multifamily and non-GSE	60,264		6		(1,615)		58,655
Total securities available for sale	$	156,101	$	756	$	(5,830)	$	151,027
Securities Held to Maturity


State and municipal securities	19,667		—		(1,440)		18,227



Total securities held to maturity	$	19,667	$	—	$	(1,440)	$	18,227
Total securities	$	175,768	$	756	$	(7,270)	$	169,254


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	7,820	$	22	$	(20)	$	7,822
U.S. Government Sponsored Enterprises (GSEs)	9,228		68		(103)		9,193
State and municipal securities	54,236		2,611		(66)		56,781
Corporate debt securities	10,530		289		(35)		10,784
Asset based securities	10,380		116		(24)		10,472
Mortgage-backed GSE residential/multifamily and non-GSE	37,123		185		(188)		37,120
Total securities available for sale	$	129,317	$	3,291	$	(436)	$	132,172
Securities Held to Maturity


State and municipal securities	19,672		364		(126)		19,910



Total securities held to maturity	$	19,672	$	364	$	(126)	$	19,910
Total securities	$	148,989	$	3,655	$	(562)	$	152,082

The amortized cost and fair value of securities at December 31, 2021 and December 31, 2020 are summarized as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	7,820	$	22	$	(20)	$	7,822
U.S. Government Sponsored Enterprises (GSEs)	9,228		68		(103)		9,193
State and municipal securities	54,236		2,611		(66)		56,781
Corporate debt securities	10,530		289		(35)		10,784
Asset based securities	10,380		116		(24)		10,472
Mortgage-backed GSE residential/multifamily and non-GSE	37,123		185		(188)		37,120
Total securities available for sale	$	129,317	$	3,291	$	(436)	$	132,172

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—
State and municipal securities	19,672		364		(126)		19,910
Corporate debt securities	—		—		—		—
Asset based securities	—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—
Total securities held to maturity	$	19,672	$	364	$	(126)	$	19,910
Total securities	$	148,989	$	3,655	$	(562)	$	152,082

NOTE 3. SECURITIES (Continued)


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2020
Securities Available for Sale
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	9,154		246		(34)		9,366
State and municipal securities	64,468		3,531		(58)		67,941
Corporate debt securities	8,286		188		(5)		8,469
Asset based securities	9,035		76		—		9,111
Mortgage-backed GSE residential/multifamily and non-GSE	18,753		394		(33)		19,114
Total securities available for sale	$	109,696	$	4,435	$	(130)	$	114,001

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—
State and municipal securities	—		—		—		—
Corporate debt securities	—		—		—		—
Asset based securities	—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—
Total securities held to maturity	$	—	$	—	$	—	$	—
Total securities	$	109,696	$	4,435	$	(130)	$	114,001

Schedule of Investments Classified by Contractual Maturity Date


	March 31, 2022				December 31, 2021
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Securities Available for Sale
Due in less than one year	$	301	$	301	$	302	$	302
Due from one year to five years	6,997		6,881		2,766		2,790
Due after five to ten years	23,679		22,684		26,475		26,764
Due after ten years	64,860		62,506		62,651		65,196
Mortgage-backed securities	60,264		58,655		37,123		37,120
Total securities available for sale	$	156,101	$	151,027	$	129,317	$	132,172
Securities Held to Maturity
Due in less than one year	$	—	$	—	$	—	$	—
Due from one year to five years	—		—		—		—
Due after five to ten years	1,772		1,689		1,100		1,115
Due after ten years	17,895		16,538		18,572		18,795
Mortgage-backed securities	—		—		—		—
Total securities held to maturity	$	19,667	$	18,227	$	19,672	$	19,910
Total securities	$	175,768	$	169,254	$	148,989	$	152,082

NOTE 3. SECURITIES (Continued)


	December 31,
	2021				2020
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Securities Available for Sale
Due in less than one year	$	302	$	302	$	—	$	—
Due from one year to five years	2,766		2,790		1,200		1,241
Due after five to ten years	26,475		26,764		15,518		15,873
Due after ten years	62,651		65,196		74,225		77,773
Mortgage-backed securities	37,123		37,120		18,753		19,114
Total securities available for sale	$	129,317	$	132,172	$	109,696	$	114,001

Securities Held to Maturity
Due in less than one year	$	—	$	—	$	—	$	—
Due from one year to five years	—		—		—		—
Due after five to ten years	1,100		1,115		—		—
Due after ten years	18,572		18,795		—		—
Mortgage-backed securities	—		—		—		—
Total securities held to maturity	$	19,672	$	19,910	$	—	$	—
Total securities	$	148,989	$	152,082	$	109,696	$	114,001

Schedule of Realized Gain (Loss)

Gains and losses on sales of securities available for sale for the years ended December 31, 2021 and December 31, 2020 consist of the following:


	Years Ended December 31,
	2021		2020
Gross gains	$	862	$	765
Gross losses	(919)		(23)
Net realized gains (losses)	$	(57)	$	742

Schedule of Restricted Investments

Restricted equity securities as of March 31, 2022 and December 31, 2021 consist of the following:


	March 31,		December 31,
	2022		2021
Federal Home Loan Bank stock	$	1,900	$	1,675
First National Banker’s Bankshares, Inc. stock	675		675
Pacific Coast Banker’s Bank stock	250		250
Total restricted equity securities	$	2,825	$	2,600

Restricted equity securities as of December 31, 2021 and December 31, 2020 consist of the following:


	December 31,
	2021		2020
Federal Home Loan Bank stock	$	1,675	$	2,299
First National Banker’s Bankshares, Inc. stock	675		675
Pacific Coast Banker’s Bank stock	250		250
Total restricted equity securities	$	2,600	$	3,224

Schedule of Available-for-sale in Continuous Unrealized Loss Position


	Less Than Twelve Months				Over Twelve Months				Total Unrealized Losses
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
March 31, 2022
Securities Available for Sale
U.S. Treasury securities	$	(556)	$	9,241	$	—	$	—	$	(556)
U.S. Government Sponsored Enterprises (GSEs)	(215)		5,596		(199)		2,443		(414)
State and municipal securities	(2,924)		39,112		—		—		(2,924)
Corporate debt securities	(177)		5,351		(39)		711		(216)
Asset based securities	(101)		7,473		(4)		844		(105)
Mortgage-backed GSE residential/multifamily and non-GSE	(1,522)		41,499		(93)		2,442		(1,615)
Total securities available for sale	$	(5,495)	$	108,272	$	(335)	$	6,440	$	(5,830)
Securities Held to Maturity


State and municipal securities	(1,377)		17,786		(63)		441		(1,440)



Total securities held to maturity	$	(1,377)	$	17,786	$	(63)	$	441	$	(1,440)
Total securities	$	(6,872)	$	126,058	$	(398)	$	6,881	$	(7,270)


	Less Than Twelve Months				Over Twelve Months				Total Unrealized Losses
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value

December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	(20)	$	5,347	$	—	$	—	$	(20)
U.S. Government Sponsored Enterprises (GSEs)	(57)		1,946		(46)		1,899		(103)
State and municipal securities	(66)		6,270		—		—		(66)
Corporate debt securities	(35)		2,995		—		—		(35)
Asset based securities	(21)		2,842		(3)		879		(24)
Mortgage-backed GSE residential/multifamily and non-GSE	(158)		16,226		(30)		2,749		(188)
Total securities available for sale	$	(357)	$	35,626	$	(79)	$	5,527	$	(436)
Securities Held to Maturity


State and municipal securities	(126)		6,450		—		—		(126)



Total securities held to maturity	$	(126)	$	6,450	$	—	$	—	$	(126)
Total securities	$	(483)	$	42,076	$	(79)	$	5,527	$	(562)


	Less Than Twelve Months				Over Twelve Months
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Total Unrealized Losses
December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	(20)	$	5,347	$	—	$	—	$	(20)
U.S. Government Sponsored Enterprises (GSEs)	(57)		1,946		(46)		1,899		(103)
State and municipal securities	(66)		6,270		—		—		(66)
Corporate debt securities	(35)		2,995		—		—		(35)
Asset based securities	(21)		2,842		(3)		879		(24)
Mortgage-backed GSE residential/multifamily and non-GSE	(158)		16,226		(30)		2,749		(188)
Total securities available for sale	$	(357)	$	35,626	$	(79)	$	5,527	$	(436)

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—		—
State and municipal securities	(126)		6,450		—		—		(126)
Corporate debt securities	—		—		—		—		—
Asset based securities	—		—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—		—
Total securities held to maturity	$	(126)	$	6,450	$	—	$	—	$	(126)
Total securities	$	(483)	$	42,076	$	(79)	$	5,527	$	(562)

NOTE 3. SECURITIES (Continued)

Temporarily Impaired Securities (Continued)


	Less Than Twelve Months				Over Twelve Months
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Total Unrealized Losses
December 31, 2020
Securities Available for Sale
U.S. Treasury securities	$	—	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	(34)		2,051		—		—		(34)
State and municipal securities	(58)		4,979		—		—		(58)
Corporate debt securities	(5)		1,495		—		—		(5)
Asset based securities	—		960		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	(33)		6,643		—		—		(33)
Total securities available for sale	$	(130)	$	16,128	$	—	$	—	$	(130)

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—		—
State and municipal securities	—		—		—		—		—
Corporate debt securities	—		—		—		—		—
Asset based securities	—		—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—		—
Total securities held to maturity	$	—	$	—	$	—	$	—	$	—
Total securities	$	(130)	$	16,128	$	—	$	—	$	(130)

Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value


	Less Than Twelve Months				Over Twelve Months				Total Unrealized Losses
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
March 31, 2022
Securities Available for Sale
U.S. Treasury securities	$	(556)	$	9,241	$	—	$	—	$	(556)
U.S. Government Sponsored Enterprises (GSEs)	(215)		5,596		(199)		2,443		(414)
State and municipal securities	(2,924)		39,112		—		—		(2,924)
Corporate debt securities	(177)		5,351		(39)		711		(216)
Asset based securities	(101)		7,473		(4)		844		(105)
Mortgage-backed GSE residential/multifamily and non-GSE	(1,522)		41,499		(93)		2,442		(1,615)
Total securities available for sale	$	(5,495)	$	108,272	$	(335)	$	6,440	$	(5,830)
Securities Held to Maturity


State and municipal securities	(1,377)		17,786		(63)		441		(1,440)



Total securities held to maturity	$	(1,377)	$	17,786	$	(63)	$	441	$	(1,440)
Total securities	$	(6,872)	$	126,058	$	(398)	$	6,881	$	(7,270)


	Less Than Twelve Months				Over Twelve Months				Total Unrealized Losses
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value

December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	(20)	$	5,347	$	—	$	—	$	(20)
U.S. Government Sponsored Enterprises (GSEs)	(57)		1,946		(46)		1,899		(103)
State and municipal securities	(66)		6,270		—		—		(66)
Corporate debt securities	(35)		2,995		—		—		(35)
Asset based securities	(21)		2,842		(3)		879		(24)
Mortgage-backed GSE residential/multifamily and non-GSE	(158)		16,226		(30)		2,749		(188)
Total securities available for sale	$	(357)	$	35,626	$	(79)	$	5,527	$	(436)
Securities Held to Maturity


State and municipal securities	(126)		6,450		—		—		(126)



Total securities held to maturity	$	(126)	$	6,450	$	—	$	—	$	(126)
Total securities	$	(483)	$	42,076	$	(79)	$	5,527	$	(562)


	Less Than Twelve Months				Over Twelve Months
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Total Unrealized Losses
December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	(20)	$	5,347	$	—	$	—	$	(20)
U.S. Government Sponsored Enterprises (GSEs)	(57)		1,946		(46)		1,899		(103)
State and municipal securities	(66)		6,270		—		—		(66)
Corporate debt securities	(35)		2,995		—		—		(35)
Asset based securities	(21)		2,842		(3)		879		(24)
Mortgage-backed GSE residential/multifamily and non-GSE	(158)		16,226		(30)		2,749		(188)
Total securities available for sale	$	(357)	$	35,626	$	(79)	$	5,527	$	(436)

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—		—
State and municipal securities	(126)		6,450		—		—		(126)
Corporate debt securities	—		—		—		—		—
Asset based securities	—		—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—		—
Total securities held to maturity	$	(126)	$	6,450	$	—	$	—	$	(126)
Total securities	$	(483)	$	42,076	$	(79)	$	5,527	$	(562)

NOTE 3. SECURITIES (Continued)

Temporarily Impaired Securities (Continued)


	Less Than Twelve Months				Over Twelve Months
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Total Unrealized Losses
December 31, 2020
Securities Available for Sale
U.S. Treasury securities	$	—	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	(34)		2,051		—		—		(34)
State and municipal securities	(58)		4,979		—		—		(58)
Corporate debt securities	(5)		1,495		—		—		(5)
Asset based securities	—		960		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	(33)		6,643		—		—		(33)
Total securities available for sale	$	(130)	$	16,128	$	—	$	—	$	(130)

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—		—
State and municipal securities	—		—		—		—		—
Corporate debt securities	—		—		—		—		—
Asset based securities	—		—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—		—
Total securities held to maturity	$	—	$	—	$	—	$	—	$	—
Total securities	$	(130)	$	16,128	$	—	$	—	$	(130)

LOANS (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

Schedule of Composition of Loans

The composition of loans, excluding loans held for sale, is summarized as follows:


	March 31, 2022				December 31, 2021
	Amount		% of Total		Amount		% of Total
	(in thousands, except percentages)
Real estate mortgages:
Construction and development	$	165,400	12.6	%	$	174,480	13.9	%
Residential	154,143		11.7	%	147,490		11.8	%
Commercial	765,685		58.3	%	716,541		57.1	%
Commercial and industrial	219,761		16.7	%	206,897		16.5	%
Consumer and other	9,077		0.7	%	8,709		0.7	%
Gross Loans	1,314,066		100.0	%	1,254,117		100.0	%
Deferred loan fees	(3,996)				(3,817)
Allowance for loan losses	(15,492)				(14,844)
Loans, net	$	1,294,578			$	1,235,456

The composition of loans, excluding loans held for sale, is summarized as follows:


	December 31,
	2021				2020
	Amount		% of Total		Amount		% of Total
	(in thousands, except percentages)
Real estate mortgages:
Construction and development	$	174,480	13.9	%	$	102,559	9.9	%
Residential	147,490		11.8	%	152,212		14.7	%
Commercial	716,541		57.1	%	514,923		49.8	%
Commercial and industrial	206,897		16.5	%	254,395		24.6	%
Consumer and other	8,709		0.7	%	9,644		1.0	%
Gross Loans	1,254,117		100.0	%	1,033,733		100.0	%
Deferred loan fees	(3,817)				(3,618)
Allowance for loan losses	(14,844)				(11,859)
Loans, net	$	1,235,456			$	1,018,256

Schedule of Financing Receivable Credit Quality Indicators

The following tables summarize the risk category of the Company’s loan portfolio based upon the most recent analysis performed as of March 31, 2022 and December 31, 2021:


	Pass		Special Mention		Substandard		Doubtful		Total
	(dollars in thousands)
As of March 31, 2022
Real estate mortgages:
Construction and development	$	160,243	$	388	$	4,769	$	—	$	165,400
Residential	149,011		3,841		1,291		—		154,143
Commercial	739,916		15,830		9,939		—		765,685
Commercial and industrial	216,375		3,103		59		224		219,761
Consumer and other	9,054		20		3		—		9,077
Total	$	1,274,599	$	23,182	$	16,061	$	224	$	1,314,066
As of December 31, 2021
Real estate mortgages:
Construction and development	$	168,751	$	388	$	5,341	$	—	$	174,480
Residential	142,782		3,554		1,154		—		147,490
Commercial	691,863		16,371		8,307		—		716,541
Commercial and industrial	203,630		2,960		73		234		206,897
Consumer and other	8,682		21		6		—		8,709
Total	$	1,215,708	$	23,294	$	14,881	$	234	$	1,254,117

The following tables summarize the risk category of the Company’s loan portfolio based upon the most recent analysis performed as of December 31, 2021 and December 31, 2020:


	Pass		Special Mention		Substandard		Doubtful		Total
	(dollars in thousands)
As of December 31, 2021
Real estate mortgages:
Construction and development	$	168,751	$	388	$	5,341	$	—	$	174,480
Residential	142,782		3,554		1,154		—		147,490
Commercial	691,863		16,371		8,307		—		716,541
Commercial and industrial	203,630		2,960		73		234		206,897
Consumer and other	8,682		21		6		—		8,709
Total:	$	1,215,708	$	23,294	$	14,881	$	234	$	1,254,117

As of December 31, 2020
Real estate mortgages:
Construction and development	$	95,214	$	6,113	$	1,232	$	—	$	102,559
Residential	144,256		6,245		1,627		84		152,212
Commercial	471,555		36,754		6,614		—		514,923
Commercial and industrial	240,646		13,138		611		—		254,395
Consumer and other	8,186		1,435		23		—		9,644
Total:	$	959,857	$	63,685	$	10,107	$	84	$	1,033,733

Schedule of Aging Analysis

The following tables present the aging of the recorded investment in loans and leases as of March 31, 2022 and December 31, 2021:


			Past Due Status (Accruing Loans)
	Current		30-59 Days		60-89 Days		90+ Days		Total Past Due		Nonaccrual		Total
As of March 31, 2022
Real estate mortgages:
Construction and development	$	164,583	$	647	$	94	$	—	$	741	$	76	$	165,400
Residential	153,432		201		—		—		201		510		154,143
Commercial	762,558		739		—		—		739		2,388		765,685
Commercial and industrial	219,476		16		—		—		16		269		219,761
Consumer and other	9,074		—		—		—		—		3		9,077
Total	$	1,309,123	$	1,603	$	94	$	—	$	1,697	$	3,246	$	1,314,066
As of December 31, 2021
Real estate mortgages:
Construction and development	$	173,027	$	62	$	746	$	299	$	1,107	$	346	$	174,480
Residential	146,871		129		128		195		452		167		147,490
Commercial	714,092		1,775		—		—		1,775		674		716,541
Commercial and industrial	206,027		99		486		—		585		285		206,897
Consumer and other	8,673		30		—		—		30		6		8,709
Total	$	1,248,690	$	2,095	$	1,360	$	494	$	3,949	$	1,478	$	1,254,117

The following tables present the aging of the recorded investment in loans as of December 31, 2021 and December 31, 2020:


			Past Due Status (Accruing Loans)
	Current		30-59 Days		60-89 Days		90+ Days		Total Past Due		Nonaccrual		Total
As of December 31, 2021
Real estate mortgages:
Construction and development	$	173,027	$	62	$	746	$	299	$	1,107	$	346	$	174,480
Residential	146,871		129		128		195		452		167		147,490
Commercial	714,092		1,775		—		—		1,775		674		716,541
Commercial and industrial	206,027		99		486		—		585		285		206,897
Consumer and other	8,673		30		—		—		30		6		8,709
Total:	$	1,248,690	$	2,095	$	1,360	$	494	$	3,949	$	1,478	$	1,254,117

As of December 31, 2020
Real estate mortgages:
Construction and development	$	101,375	$	117	$	90	$	—	$	207	$	977	$	102,559
Residential	150,837		382		94		42		518		857		152,212
Commercial	512,208		1,196		—		41		1,237		1,478		514,923
Commercial and industrial	252,473		626		1,212		—		1,838		84		254,395
Consumer and other	9,581		18		15		8		41		22		9,644
Total:	$	1,026,474	$	2,339	$	1,411	$	91	$	3,841	$	3,418	$	1,033,733

Schedule of Allowance for Credit Loss


	Real Estate		Commercial		Consumer		Total
Allowance for loan losses:
Balance at December 31, 2021	$	11,554	$	3,166	$	124	$	14,844
Provision (credit) for loan losses	(1,299)		2,009		(10)		700
Loans charged off	(66)		—		(6)		(72)
Recoveries of loans previously charged off	17		—		3		20
Ending balance at March 31, 2022	$	10,206	$	5,175	$	111	$	15,492
Ending balance - individually evaluated for impairment	$	400	$	269	$	—	$	669
Ending balance - collectively evaluated for impairment	9,743		4,906		111		14,760
Ending balance - loans acquired with deteriorated credit quality	63		—		—		63
Total ending balance at March 31, 2022	$	10,206	$	5,175	$	111	$	15,492
Loans:
Ending balance - individually evaluated for impairment	$	15,943	$	283	$	22	$	16,248
Ending balance - collectively evaluated for impairment	1,068,050		219,478		9,055		1,296,583
Ending balance - loans acquired with deteriorated credit quality	1,235		—		—		1,235
Total ending balance at March 31, 2022	$	1,085,228	$	219,761	$	9,077	$	1,314,066


	Real Estate		Commercial		Consumer		Total
Allowance for loan losses:
Balance at December 31, 2020	$	8,057	$	3,609	$	193	$	11,859
Provision (credit) for loan losses	1,231		(428)		(53)		750
Loans charged off	(16)		—		(2)		(18)
Recoveries of loans previously charged off	2		11		1		14
Ending balance at March 31, 2021	$	9,274	$	3,192	$	139	$	12,605
Ending balance - individually evaluated for impairment	$	357	$	390	$	12	$	759
Ending balance - collectively evaluated for impairment	8,823		2,802		127		11,752
Ending balance - loans acquired with deteriorated credit quality	94		—		—		94
Total ending balance at March 31, 2021	$	9,274	$	3,192	$	139	$	12,605
Loans:
Ending balance - individually evaluated for impairment	$	15,829	$	583	$	42	$	16,454
Ending balance - collectively evaluated for impairment	830,912		229,574		9,158		1,069,644
Ending balance - loans acquired with deteriorated credit quality	1,363		—		—		1,363
Total ending balance at March 31, 2021	$	848,104	$	230,157	$	9,200	$	1,087,461


	Real Estate		Commercial		Consumer		Total
Allowance for loan losses:
Balance at December 31, 2020	$	8,057	$	3,609	$	193	$	11,859
Provision (credit) for loan losses	3,516		(458)		(76)		2,982
Loans charged off	(44)		—		(2)		(46)
Recoveries of loans previously charged off	25		15		9		49
Ending balance at December 31, 2021	$	11,554	$	3,166	$	124	$	14,844

Ending balance - individually evaluated for impairment	$	340	$	292	$	3	$	635
Ending balance - collectively evaluated for impairment	11,145		2,874		121		14,140
Ending balance - loans acquired with deteriorated credit quality	69		—		—		69
Total ending balance at December 31, 2021	$	11,554	$	3,166	$	124	$	14,844

Loans:
Ending balance - individually evaluated for impairment	$	14,742	$	307	$	26	$	15,075
Ending balance - collectively evaluated for impairment	1,022,497		206,590		8,683		1,237,770
Ending balance - loans acquired with deteriorated credit quality	1,272		—		—		1,272
Total ending balance at December 31, 2021	$	1,038,511	$	206,897	$	8,709	$	1,254,117

NOTE 4. Loans (Continued)

Allowance for Loans Losses (Continued)


	Real Estate		Commercial		Consumer		Total
Allowance for loan losses:
Balance at December 31, 2019	$	7,254	$	1,885	$	126	$	9,265
Provision for loan losses	1,702		1,598		—		3,300
Loans charged off	(908)		—		(18)		(926)
Recoveries of loans previously charged off	9		126		85		220
Ending balance at December 31, 2020	$	8,057	$	3,609	$	193	$	11,859

Ending balance - individually evaluated for impairment	$	1,352	$	478	$	7	$	1,837
Ending balance - collectively evaluated for impairment	6,476		3,131		186		9,793
Ending balance - loans acquired with deteriorated credit quality	229		—		—		229
Total ending balance at December 31, 2020	$	8,057	$	3,609	$	193	$	11,859

Loans:
Ending balance - individually evaluated for impairment	$	11,527	$	856	$	37	$	12,420
Ending balance - collectively evaluated for impairment	756,489		253,539		9,607		1,019,635
Ending balance - loans acquired with deteriorated credit quality	1,678		—		—		1,678
Total ending balance at December 31, 2020	$	769,694	$	254,395	$	9,644	$	1,033,733

Schedule of Impaired Loans

The following tables detail our impaired loans, by portfolio class as of March 31, 2022 and December 31, 2021.


	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
March 31, 2022
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	4,810	$	4,810	$	—	$	4,813
Residential	1,477		1,477		—		1,485
Commercial	7,891		7,891		—		7,922
Commercial and industrial	14		14		—		17
Consumer and other	22		22		—		23
Total with no related allowance recorded	14,214		14,214		—		14,260
With an allowance recorded:
Real estate mortgages:
Construction and development	234		234		62		236
Residential	362		433		97		364
Commercial	2,404		2,404		304		2,406
Commercial and industrial	269		269		269		276
Consumer and other	—		—		—		—
Total with an allowance recorded	3,269		3,340		732		3,282
Total impaired loans	$	17,483	$	17,554	$	732	$	17,542


	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
December 31, 2021
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	5,258	$	5,258	$	—	$	5,261
Residential	1,081		1,081		—		1,090
Commercial	7,992		7,992		—		7,993
Commercial and industrial	22		22		—		25
Consumer and other	15		15		—		16
Total with no related allowance recorded	14,368		14,368		—		14,385
With an allowance recorded:
Real estate mortgages:
Construction and development	370		370		148		370
Residential	633		704		125		636
Commercial	680		680		136		682
Commercial and industrial	285		285		292		289
Consumer and other	11		11		3		11
Total with an allowance recorded	1,979		2,050		704		1,988
Total impaired loans	$	16,347	$	16,418	$	704	$	16,373

A loan held for investment is considered impaired when, based on current information and events, it is probable that we will be unable to collect all amounts due (both principal and interest) according to the terms of the loan agreement. The following tables detail our interest income recognized on impaired loans, by portfolio class in the three months ended March 31, 2022 and 2021.


	Recorded Investment		Average Recorded Investment		Interest Income Recognized
Three Months Ended March 31, 2022
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	4,810	$	4,813	$	55
Residential	1,477		1,485		21
Commercial	7,891		7,922		115
Commercial and industrial	14		17		—
Consumer and other	22		23		—
Total with no related allowance recorded	14,214		14,260		191
With an allowance recorded:
Real estate mortgages:
Construction and development	234		236		3
Residential	362		364		4
Commercial	2,404		2,406		9
Commercial and industrial	269		276		6
Consumer and other	—		—		—
Total with an allowance recorded	3,269		3,282		22
Total impaired loans	$	17,483	$	17,542	$	213


	Recorded Investment		Average Recorded Investment		Interest Income Recognized
Three Months Ended March 31, 2021
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	5,511	$	5,511	$	41
Residential	2,396		2,405		23
Commercial	6,411		6,395		98
Commercial and industrial	200		208		3
Consumer and other	22		23		—
Total with no related allowance recorded	14,540		14,542		165
With an allowance recorded:
Real estate mortgages:
Construction and development	567		573		9
Residential	800		804		11
Commercial	1,507		1,517		22
Commercial and industrial	383		387		5
Consumer and other	20		21		—
Total with an allowance recorded	3,277		3,302		47
Total impaired loans	$	17,817	$	17,844	$	212

The following tables detail our impaired loans, by portfolio class as of December 31, 2021 and December 31, 2020.


	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
December 31, 2021
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	5,258	$	5,258	$	—	$	5,261	$	205
Residential	1,081		1,081		—		1,090		90
Commercial	7,992		7,992		—		7,993		440
Commercial and industrial	22		22		—		25		3
Consumer and other	15		15		—		16		1
Total with no related allowance recorded	14,368		14,368		—		14,385		739

With an allowance recorded:
Real estate mortgages:
Construction and development	370		370		148		370		$	10
Residential	633		704		125		636		27
Commercial	680		680		136		682		32
Commercial and industrial	285		285		292		289		18
Consumer and other	11		11		3		11		1
Total with an allowance recorded	1,979		2,050		704		1,988		88
Total impaired loans:	$	16,347	$	16,418	$	704	$	16,373	$	827

NOTE 4. Loans (Continued)

Impaired Loans (Continued)


	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
December 31, 2020
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	977	$	977	$	—	$	970	$	18
Residential	1,537		1,537		—		1,669		93
Commercial	5,117		5,117		—		5,425		290
Commercial and industrial	65		65		—		91		6
Consumer and other	22		22		—		24		2
Total with no related allowance recorded	7,718		7,718		—		8,179		$	409

With an allowance recorded:
Real estate mortgages:
Construction and development	644		644		106		668		$	34
Residential	1,557		1,628		628		1,636		82
Commercial	3,373		3,373		847		3,526		194
Commercial and industrial	791		791		478		886		58
Consumer and other	15		15		7		15		—
Total with an allowance recorded	6,380		6,451		2,066		6,731		368
Total impaired loans:	$	14,098	$	14,169	$	2,066	$	14,910	$	777

Schedule of Troubled Debt Restructuring

The following table summarizes the loans that were modified as a TDR during the years ended December 31, 2021 and 2020.


	Troubled Debt Restructurings
	Number of Loans	Recorded Investment Prior to Modification		Recorded Investment After Modification		Impact on the Allowance for Loan Losses
December 31, 2021
Real estate mortgages:
Construction and development	2	$	189	$	178	$	63
Residential	1	3		—		—
Commercial	2	537		510		—
Commercial and industrial	—	—		—		—
Consumer and other	—	—		—		—
Total	5	$	729	$	688	$	63

December 31, 2020
Real estate mortgages:
Construction and development	—	$	—	$	—	$	—
Residential	—	—		—		—
Commercial	—	—		—		—
Commercial and industrial	1	277		271		271
Consumer and other	1	16		15		7
Total	2	$	293	$	286	$	278

FORECLOSED ASSETS (Tables)

12 Months Ended

Dec. 31, 2021

Repossessed Assets [Abstract]

Schedule of Foreclosed Assets

A summary of foreclosed assets is presented as follows:


	December 31,
	2021		2020
Balance, beginning of year	$	10,224	$	7,042
Acquired through settlement of loans	100		10,088
Sales proceeds	(7,187)		(5,910)
Write-downs	—		(920)

Net gain (loss) on sales of foreclosed assets	(207)		76
Receivable from SBA	—		(152)
Balance, end of year	$	2,930	$	10,224

Net expenses related to foreclosed assets include the following:


	December 31,
	2021		2020
Net (gain) loss on sales of foreclosed assets	$	207	$	(76)
Write-downs	—		920
Operating expenses, net of rental income	(366)		102
Net (income) expense	$	(159)	$	946

PREMISES AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

The estimated useful lives are as follows:


			Years
Buildings			10-39
Furniture and equipment			3-7

Premises and equipment is summarized as follows:


	December 31,
	2021		2020
Land and land improvements	$	8,169	$	8,169
Building	22,604		21,109
Furniture and equipment	4,785		7,260
	35,558		36,538
Accumulated depreciation	(8,514)		(12,112)
Total premises and equipment	$	27,044	$	24,426

LEASES (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Lessee, Operating Lease, Liability, Maturity

Future minimum lease payments, as of December 31, 2021, on the leases described above, excluding any renewal options, are summarized as follows:


2022	$	160
2023	143
2024	58
	$	361

Future obligations over the primary and renewal option terms of the Company’s long-term operating leases as of December 31, 2021, were as follows:


2022	$	156
2023	143
2024	58
Total Lease Payments	357
Less: Interest	(18)
Operating Lease Liability	$	339

Schedule of Lease Cost

The table below summarizes information related to the Company's operating leases as of and for the year ended December 31, 2021:


Operating lease right-of-use assets	$	338
Operating lease liabilities	$	339
Weighted average remaining operating lease term (in years)	1.7
Weighted average operating lease discount rate	4.5		%

DEPOSITS (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Banking and Thrift, Interest [Abstract]

Composition of Deposits

Major classifications of deposits are as follows:


	March 31, 2022		December 31, 2021
Noninterest-bearing transaction	$	515,110	$	541,546
Interest-bearing transaction	749,119		704,326
Savings	62,462		56,715
Time deposits, $250,000 and under	189,172		224,556
Time deposits, over $250,000	25,976		29,308
	$	1,541,839	$	1,556,451

Major classifications of deposits are as follows:


	December 31,
	2021		2020
Noninterest-bearing transaction	$	541,546	$	290,867
Interest-bearing transaction	704,326		475,757
Savings	56,715		42,731
Time deposits, $250,000 and under	224,556		293,707
Time deposits, over $250,000	29,308		36,599
	$	1,556,451	$	1,139,661

Time Deposit Maturities

Brokered deposits totaled $34,110 at March 31, 2022 and December 31, 2021. The scheduled maturities of time deposits at March 31, 2022 are as follows:


April 1, 2022 to March 31, 2023	$	181,564
April 1, 2023 to March 31, 2024	12,514
April 1, 2024 to March 31, 2025	15,828
April 1, 2025 to March 31, 2026	3,597
April 1, 2026 to March 31, 2027	1,459
Thereafter	186
	$	215,148

The scheduled maturities of time deposits at December 31, 2021 are as follows:


2022	$	212,370
2023	19,162
2024	17,192
2025	3,402
2026	1,552
Thereafter	186
Total	$	253,864

BORROWINGS (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Debt

Note payable and subordinated notes consist of the following:


	December 31,
	2021		2020
Short-term variable $25 million line of credit with interest due quarterly at 90-Day LIBOR + 2.50%, maturity August 2022.	$	12,498	$	7,975

Short-term fixed rate Federal Home Loan Bank advances with interest and principal payments due at various maturity dates through 2023 and interest rates ranging from 0.31% to 0.57%.	25,950		30,900

Subordinated notes with interest due semi-annually beginning January 1, 2017 at a fixed rate of 6.625% through July 2021, then quarterly interest due based on LIBOR + 5.412% through maturity on July 1, 2026.	—		4,493
	$	38,448	$	43,368

Schedule of Maturities of Long-term Debt

Contractual maturities of other borrowings as of December 31, 2021 are as follows:


2022	$	32,448
2023	6,000




Total	$	38,448

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Values of Derivative Instruments on the Balance Sheet


December 31, 2021						December 31, 2020
Derivatives not Designated as Hedging Instruments	Notional Amount		Balance Sheet Location	Fair Value		Derivatives not Designated as Hedging Instruments	Notional Amount		Balance Sheet Location	Fair Value
Interest Rate Products	$	77,534	Other Assets	$	1,784	Interest Rate Products	$	49,664	Other Assets	$	983
Interest Rate Products	77,534		Other Liabilities	(1,843)		Interest Rate Products	49,664		Other Liabilities	(1,013)

EMPLOYEE AND DIRECTOR BENEFITS (Tables)

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Schedule of Option Activity

Other pertinent information related to the options is as follows:


	Number	Weighted Average Exercise Price
Year Ended December 31, 2021
Options outstanding, beginning of year	480,478	$	14.95
Granted	33,294	20.03
Exercised	(10,000)	10.00
Forfeited	(2,280)	20.10
Options outstanding, end of year	501,492	$	15.37
Weighted average remaining contractual life		6.46 years

Exercisable, end of year	327,526	$	13.79

Year Ended December 31, 2020
Options outstanding, beginning of year	373,392	$	13.55
Granted	113,086	19.49
Exercised	(1,000)	10.00
Forfeited	(5,000)	14.20
Options outstanding, end of year	480,478	$	14.95
Weighted average remaining contractual life		7.26 years

Exercisable, end of year	216,677	$	12.67

Schedule of Exercisable Options

Exercisable options at December 31, 2021 were as follows:


Exercise Price		Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
					(in years)	(dollars in thousands)
$	10.00	115,000	$	10.00	4.09	$	1,101
14.00		24,000	14.00		5.33	134
14.00		7,200	14.00		5.67	40
14.00		4,000	14.00		6.00	22
14.50		73,000	14.50		6.09	370
14.50		9,000	14.50		6.42	46
14.50		4,800	14.50		6.92	24
16.00		50,261	16.00		7.09	179
22.75		6,000	22.75		7.84	—
20.10		20,512	20.10		8.09	—
20.10		9,753	20.10		8.18	—
14.98		2,000	14.98		8.84	9
18.34		2,000	18.34		9.01	2
		327,526	$	13.79	5.75	$	1,927

Schedule of Weighted Average Assumptions

The following weighted average assumptions were used in the calculations for 2021 and 2020 as follows:


	December 31,
	2021			2020
Dividend yield	2.50		%	2.50		%
Weighted average volatility	65.43		%	29.15		%
Expected life in years	6.50 years			6.68 years
Risk-free interest rate	0.81		%	1.56		%
Weighted average grant-date fair value	$	9.77		$	4.22

Schedule of Nonvested Restricted Stock

Nonvested restricted stock consists of the following:


	Number	Weighted Average Exercise Price
Year Ended December 31, 2021
Nonvested, beginning of year	39,169	$	17.80
Granted	24,985	20.03
Forfeited	—	—
Vested	(24,840)	17.36
Nonvested, end of year	39,314	$	19.50

Year Ended December 31, 2020
Nonvested, beginning of year	34,389	$	16.06
Granted	22,869	19.35
Forfeited	(268)	20.10
Vested	(17,821)	16.39
Nonvested, end of year	39,169	$	17.80

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Income tax expense consists of the following:


	Years Ended December 31,
	2021		2020
Current	$	6,705	$	4,113
Deferred	(973)		(1,587)
Income tax expense	$	5,732	$	2,526

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the differences as of December 31, 2021 and 2020 is as follows:


	Years Ended December 31,
	2021		2020
Income tax expense at federal statutory rate	$	5,102	$	3,073
State income tax	879		465
Tax exempt income	(210)		(170)
Nondeductible merger (credit) expenses	134		(685)
Other	(173)		(157)
Income tax expense	$	5,732	$	2,526

Schedule of Deferred Tax Assets and Liabilities

The components of deferred income taxes are as follows:


	December 31,
	2021		2020
Deferred income tax assets:
Loan loss reserves	$	3,812	$	2,982
Pre-opening and organization expenses	15		36
Deferred compensation	1,055		904
Intangible assets created from asset purchase	34		40
Loans purchased at a premium	68		142
Restricted stock	40		32
Deferred origination fees	795		642
	5,819		4,778
Deferred income tax liabilities:
Loans purchased at a discount	136		163
Depreciation	325		208
Intangible assets created from stock purchase	393		461
Other	161		115
Unrealized gain on securities available for sale	743		1,122
	1,758		2,069

Net deferred income tax asset	$	4,061	$	2,709

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of Loan Commitments

A summary of the Company’s commitments is as follows:


	December 31,
	2021		2020
Commitments to extend credit	$	314,194	$	181,925
Standby letters of credit	3,434		2,814
Total	$	317,628	$	184,739

REGULATORY MATTERS (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Regulatory Capital Requirements Under Banking Regulations [Abstract]

Schedule of Regulatory Capital and Ratios


	Actual				Required for Capital Adequacy Purposes				Minimums To Be “Well Capitalized” Under Prompt Corrective Action
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
As of March 31, 2022
Tier 1 capital (to average assets)
Company	$	154,648	8.75	%	$	70,717	4.00	%	$	—	—
Bank	$	192,383	10.88	%	$	70,717	4.00	%	$	88,396	5.00	%
CET 1 capital (to risk-weighted assets)
Company	$	154,648	9.90	%	$	109,331	7.00	%	$	—	—
Bank	$	192,383	12.32	%	$	109,331	7.00	%	$	101,522	6.50	%
Tier 1 capital (to risk-weighted assets)
Company	$	154,648	9.90	%	$	132,759	8.50	%	$	—	—
Bank	$	192,383	12.32	%	$	132,759	8.50	%	$	124,950	8.00	%
Total capital (to risk-weighted assets)
Company	$	218,140	13.97	%	$	163,997	10.50	%	$	—	—
Bank	$	207,875	13.31	%	$	163,997	10.50	%	$	156,187	10.00	%


	Actual				Required for Capital Adequacy Purposes				Minimums To Be “Well Capitalized” Under Prompt Corrective Action
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
As of December 31, 2021
Tier 1 capital (to average assets)
Company	$	156,723	9.74	%	$	64,376	4.00	%	$	—	—
Bank	$	168,027	10.44	%	$	64,376	4.00	%	$	80,470	5.00	%
CET 1 capital (to risk-weighted assets)
Company	$	156,723	10.35	%	$	106,019	7.00	%	$	—	—
Bank	$	168,027	11.09	%	$	106,019	7.00	%	$	98,446	6.50	%
Tier 1 capital (to risk-weighted assets)
Company	$	156,723	10.35	%	$	128,737	8.50	%	$	—	—
Bank	$	168,027	11.09	%	$	128,737	8.50	%	$	121,164	8.00	%
Total capital (to risk-weighted assets)
Company	$	171,567	11.33	%	$	159,028	10.50	%	$	—	—
Bank	$	182,871	12.07	%	$	159,028	10.50	%	$	151,455	10.00	%


	Actual				Required for Capital Adequacy Purposes				Minimums To Be “Well Capitalized” Under Prompt Corrective Action

	Amount		Ratio		Amount		Ratio		Amount		Ratio
As of December 31, 2021

Tier 1 capital (to average assets)
Company	$	156,723	9.74	%	$	64,376	4.00	%	$	—	—
Bank	$	168,027	10.44	%	$	64,376	4.00	%	$	80,470	5.00	%

CET 1 capital (to risk-weighted assets)
Company	$	156,723	10.35	%	$	106,019	7.00	%	$	—	—
Bank	$	168,027	11.09	%	$	106,019	7.00	%	$	98,446	6.50	%

Tier 1 capital (to risk-weighted assets)
Company	$	156,723	10.35	%	$	128,737	8.50	%	$	—	—
Bank	$	168,027	11.09	%	$	128,737	8.50	%	$	121,164	8.00	%

Total capital (to risk-weighted assets)
Company	$	171,567	11.33	%	$	159,028	10.50	%	$	—	—
Bank	$	182,871	12.07	%	$	159,028	10.50	%	$	151,455	10.00	%

NOTE 16. REGULATORY MATTERS (Continued)


	Actual				Required for Capital Adequacy Purposes				Minimums To Be “Well Capitalized” Under Prompt Corrective Action

	Amount		Ratio		Amount		Ratio		Amount		Ratio
As of December 31, 2020

Tier 1 capital (to average assets)
Company	$	118,837	9.24	%	$	51,426	4.00	%	$	—	—
Bank	$	130,852	10.18	%	$	51,426	4.00	%	$	77,139	5.00	%

CET 1 capital (to risk-weighted assets)
Company	$	118,837	10.63	%	$	78,257	7.00	%	$	—	—
Bank	$	130,852	11.70	%	$	78,257	7.00	%	$	72,667	6.50	%

Tier 1 capital (to risk-weighted assets)
Company	$	118,837	10.63	%	$	95,026	8.50	%	$	—	—
Bank	$	130,852	11.70	%	$	95,026	8.50	%	$	89,436	8.00	%

Total capital (to risk-weighted assets)
Company	$	135,196	12.09	%	$	117,835	10.50	%	$	—	—
Bank	$	142,711	12.77	%	$	117,835	10.50	%	$	117,795	10.00	%

FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Information related to the Company’s assets and liabilities measured at fair value on a recurring basis at March 31, 2022 and December 31, 2021 is as follows:


	Fair Value Measurements At Reporting Date Using:
	Fair Value		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
March 31, 2022
U.S. Treasury securities	$	9,241	$	—	$	9,241	$	—
U.S. Government Sponsored Enterprises (GSEs)	8,039		—		8,039		—
State and municipal securities	54,646		—		54,646		—
Corporate debt securities	10,441		—		10,441		—
Asset based securities	10,005		—		10,005		—
Mortgage-backed GSE residential/multifamily and non-GSE	58,655		—		58,655		—
Other equity securities	8,937		4,854		—		4,083
Interest Rate Products - asset	4,278		—		4,278		—
Interest Rate Products - liabilities	(4,322)		—		(4,322)		—
December 31, 2021
U.S. Treasury securities	$	7,822	$	—	$	7,822	$	—
U.S. Government Sponsored Enterprises (GSEs)	9,193		—		9,193		—
State and municipal securities	56,781		—		56,781		—
Corporate debt securities	10,784		—		10,784		—
Asset based securities	10,472		—		10,472		—
Mortgage-backed GSE residential/multifamily and non-GSE	37,120		—		37,120		—
Other equity securities	9,232		4,985		—		4,247
Interest Rate Products - asset	1,784		—		1,784		—
Interest Rate Products - liabilities	(1,843)		—		(1,843)		—

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


	March 31, 2022
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	208,824	$	208,824	$	—	$	—
Securities available for sale	151,027		—		151,027		—
Other equity securities	8,937		4,854		—		4,083
Loans held for sale	2,509		—		2,509		—
Trading assets	4,278		—		4,278		—
Loans, net	1,294,578		—		1,277,836		8,329
Bank owned life insurance	29,343		—		29,343		—
Annuities	15,523		—		15,523		—
Accrued interest receivable	4,427		—		4,427		—
Restricted equity securities	2,825		—		—		2,825

Financial liabilities:
Deposits	$	1,541,839	$	—	$	1,469,334	$	—
Trading liabilities	4,322		—		4,322		—
FHLB advances	25,950		—		25,829		—
Other borrowings	—		—		—		—
Subordinated notes	47,154		—		47,154		—
Accrued interest payable	107		—		107		—


	December 31, 2021
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	283,956	$	283,956	$	—	$	—
Securities available for sale	132,172		—		132,172		—
Other equity securities	9,232		4,985		—		4,247
Loans held for sale	2,400		—		2,400		—
Trading assets	1,784		—		1,784		—
Loans, net	1,235,456		—		1,237,491		7,718
Bank owned life insurance	22,201		—		22,201		—
Annuities	12,888		—		12,888		—
Accrued interest receivable	4,170		—		4,170		—
Restricted equity securities	2,600		—		—		2,600

Financial liabilities:
Deposits	$	1,556,451	$	—	$	1,507,190	$	—
Trading liabilities	1,843		—		1,843		—
FHLB advances	25,950		—		25,926		—
Other borrowings	12,498		—		12,498		—
Subordinated notes	—		—		—		—
Accrued interest payable	132		—		132		—

Information related to the Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2021 and December 31, 2020 is as follows:


	Fair Value Measurements At Reporting Date Using:
	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, 2021
U.S. Treasury securities	$	7,822	$	—	$	7,822	$	—
U.S. Government Sponsored Enterprises (GSEs)	9,193		—		9,193		—
State and municipal securities	56,781		—		56,781		—
Corporate debt securities	10,784		—		10,784		—
Asset based securities	10,472		—		10,472		—
Mortgage-backed GSE residential/multifamily and non GSE	37,120		—		37,120		—
Other equity securities	9,232		4,985		—		4,247
Interest Rate Products - asset	1,784		—		1,784		—
Interest Rate Products - liabilities	(1,843)		—		(1,843)		—

December 31, 2020
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	9,366		—		9,366		—
State and municipal securities	67,941		—		67,941		—
Corporate debt securities	8,469		—		8,469		—
Asset based securities	9,111		—		9,111		—
Mortgage-backed GSE residential/multifamily and non-GSE	19,114		—		19,114		—
Other equity securities	5,017		5,017		—		—
Interest Rate Products - asset	983		—		983		—
Interest Rate Products - liabilities	(1,013)		—		(1,013)		—

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


	December 31, 2021
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	283,956	$	283,956	$	—	$	—
Securities available for sale	132,172		—		132,172		—
Other equity securities	9,232		4,985		—		4,247
Loans held for sale	2,400		—		2,400		—
Trading assets	1,784		—		1,784		—
Loans, net	1,235,456		—		1,237,491		7,718
Bank owned life insurance	22,201		—		22,201		—
Annuities	12,888		—		12,888		—

Accrued interest receivable	4,170		—		4,170		—
Restricted equity securities	2,600		—		—		2,600

Financial liabilities:
Deposits	$	1,556,451	$	—	$	1,507,190	$	—
Trading liabilities	1,843		—		1,843		—
FHLB advances	25,950		—		25,926		—
Other borrowings	12,498		—		12,498		—
Subordinated notes	—		—		—		—
Accrued interest payable	132		—		132		—

NOTE 17. FAIR VALUE OF ASSETS AND LIABILITIES (Continued)

Fair Value of Financial Instruments (Continued)


	December 31, 2020
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	84,907	$	84,907	$	—	$	—
Securities available for sale	114,001		—		114,001		—
Other equity securities	5,017		5,017		—		—
Loans held for sale	5,696		—		5,696		—
Trading assets	983		—		983		—
Loans, net	1,018,256		—		1,030,104		4,392
Bank owned life insurance	22,458		—		22,458		—
Annuities	12,903		—		12,903		—

Accrued interest receivable	4,243		—		4,243		—
Restricted equity securities	3,224		—		—		3,224

Financial liabilities:
Deposits	$	1,139,661	$	—	$	1,140,979	$	—
Trading liabilities	1,013		—		1,013		—
FHLB advances	30,900		—		30,962		—
Other borrowings	7,975		—		7,975		—
Subordinated notes	4,493		—		4,493		—
Accrued interest payable	278		—		278		—

Fair Value Measurements, Nonrecurring

Assets measured at fair value on a nonrecurring basis are included in the table below as of March 31, 2022 and December 31, 2021:


	Fair Value Measurements At Reporting Date Using:
	Fair Value		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
March 31, 2022:
Impaired loans	$	8,329	$	—	$	—	$	8,329
Foreclosed assets	2,930		—		—		2,930
Totals	$	11,259	$	—	$	—	$	11,259


	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, 2021:
Impaired loans	$	7,718	$	—	$	—	$	7,718
Foreclosed assets	2,930		—		—		2,930
Totals	$	10,648	$	—	$	—	$	10,648

Assets measured at fair value on a nonrecurring basis are included in the table below as of December 31, 2021 and December 31, 2020:


	Fair Value Measurements At Reporting Date Using:
	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, 2021
Impaired loans	$	7,718	$	—	$	—	$	7,718
Foreclosed assets	2,930		—		—		2,930
Totals	$	10,648	$	—	$	—	10,648


	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, 2020
Impaired loans	$	4,392	$	—	$	—	$	4,392
Foreclosed assets	10,224		—		—		10,224
Totals	$	14,616	$	—	$	—	14,616

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation


	December 31,
	2021		2020
Carrying value, beginning of period	$	—	$	—
Purchases	4,000		—
Net realized gains	247		—
Carrying value, end of period	$	4,247	$	—

Fair Value Measurement Inputs and Valuation Techniques

For Level 3 assets measured at fair value on a nonrecurring basis as of March 31, 2022, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying Amount

Valuation Technique

Significant Unobservable Input

Weighted Average of Input

Nonrecurring:

Impaired loans

8,329

Appraisal

Appraisal discounts (%)

15-20%

Foreclosed assets

2,930

Appraisal

Appraisal discounts (%)

10-15%

For Level 3 assets measured at fair value on a non-recurring basis as of December 31, 2021, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying Amount

Valuation Technique

Significant Unobservable Input

Weighted Average of Input

Nonrecurring:

Impaired loans

7,718

Appraisal

Appraisal discounts (%)

15-20%

Foreclosed assets

2,930

Appraisal

Appraisal discounts (%)

10-15%

For Level 3 assets measured at fair value on a recurring basis as of December 31, 2021, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying

Amount

Valuation

Technique

Significant

Unobservable

Input

Weighted

Average

of Input

Recurring:

Other equity securities

4,247

Discounted cash flow

Discount rate (%)

N/A

For Level 3 assets measured at fair value on a recurring basis as of December 31, 2020, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying

Amount

Valuation Technique

Significant

Unobservable

Input

Weighted

Average

of Input

Recurring:

Other equity securities

—

Discounted cash flow

Discount rate (%)

N/A

NOTE 17. FAIR VALUE OF ASSETS AND LIABILITIES (Continued)

Quantitative Disclosures for Level 3 Fair Value Measurements (Continued)

For Level 3 assets measured at fair value on a nonrecurring basis as of December 31, 2021, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying

Amount

Valuation

Technique

Significant

Unobservable

Input

Weighted

Average

of Input

Nonrecurring:

Impaired loans

7,718

Appraisal

Appraisal discounts (%)

15-20%

Foreclosed assets

2,930

Appraisal

Appraisal discounts (%)

10-15%

For Level 3 assets measured at fair value on a nonrecurring basis as of December 31, 2020, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying

Amount

Valuation

Technique

Significant

Unobservable

Input

Weighted

Average

of Input

Nonrecurring:

Impaired loans

4,392

Appraisal

Appraisal discounts (%)

15-20%

Foreclosed assets

10,224

Appraisal

Appraisal discounts (%)

10-15%

PARENT COMPANY FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Disclosure [Abstract]

Condensed Balance Sheet


CONDENSED BALANCE SHEET	2021		2020
Assets:
Cash	$	399	$	161
Investment in subsidiary	188,503		152,671
Other assets	794		319
Total assets	189,696		153,151

Liabilities and stockholders’ equity:
Other borrowings	$	12,498	$	7,975
Subordinated debt	—		4,493
Accrued interest	—		27
Total liabilities	12,498		12,495

Stockholders’ equity	177,198		140,656

Total liabilities and stockholders’ equity	$	189,696	$	153,151

Condensed Income Statement


CONDENSED STATEMENTS OF INCOME	2021		2020

Income
Dividend income from subsidiary	$	2,826	$	1,842
	2,826		1,842
Expense
Interest expense	412		675
Other	1,054		847
	1,466		1,522
Income before income tax benefits and equity in undistributed earnings of subsidiary	1,360		320

Income tax benefits	294		320

Income before equity in undistributed earnings of subsidiary	1,654		640

Equity in undistributed earnings of subsidiary	16,913		11,467

Net income	$	18,567	$	12,107

Condensed Cash Flow Statement


CONDENSED STATEMENTS OF CASH FLOW	2021		2020
OPERATING ACTIVITIES
Net income	$	18,567	$	12,107
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiary	(16,913)		(11,467)
Stock-based compensation	825		739
(Decrease) increase in accrued interest payable	(27)		15
Net other operating expenses	(84)		(87)
Net cash provided by operating activities	2,368		1,307

INVESTING ACTIVITIES
Investment in equity securities	(360)		—

Net cash used in investing activities	(360)		—

FINANCING ACTIVITIES
Net proceeds of note payable	4,500		—
Repayment of subordinated notes	(4,500)		—
Issuance of common stock	21,123		86
Capital contribution to subsidiary	(20,000)		—
Common stock dividends paid	(2,892)		(1,842)
Net cash used in financing activities	(1,769)		(1,756)

Net increase (decrease) in cash	239		(449)

Cash at beginning of year	161		610

Cash at end of year	$	400	$	161

RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Related Party Transactions

Changes in related party loans for the years ended December 31, 2021 and 2020 are as follows:


	December 31,
	2021		2020
Balance, beginning of year	$	8,041	$	6,809
Advances	2,176		3,952
Repayments	(2,894)		(2,720)
Balance, end of year	$	7,323	$	8,041

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Property, Plant and Equipment

The estimated useful lives are as follows:


			Years
Buildings			10-39
Furniture and equipment			3-7

Premises and equipment is summarized as follows:


	December 31,
	2021		2020
Land and land improvements	$	8,169	$	8,169
Building	22,604		21,109
Furniture and equipment	4,785		7,260
	35,558		36,538
Accumulated depreciation	(8,514)		(12,112)
Total premises and equipment	$	27,044	$	24,426

EARNINGS PER SHARE (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Earnings Per Share [Abstract]

Schedule of Earnings Per Share


	For the Three Months Ended March 31,
	2022		2021
Basic Earnings Per Share:
Net Income	$	4,557	$	5,681
Weighted average common shares outstanding	8,935,384		7,681,578
Basic earnings per share	$	0.51	$	0.74
Diluted Earnings Per Share:
Net income allocated to common shareholders	$	4,549	$	5,674
Weighted average common shares outstanding	8,935,384		7,681,578
Net dilutive effect of:
Assumed exercises of stock options	129,980		113,281
Average shares and dilutive potential common shares	9,065,364		7,794,859
Dilutive earnings per share	$	0.50	$	0.73


	For the Years Ended
	2021		2020
Basic Earnings Per Share:
Net Income	$	18,567	$	12,107
Weighted average common shares outstanding	8,198,188		7,673,085
Basic earnings per share	$	2.26	$	1.58
Diluted Earnings Per Share:
Net income allocated to common shareholders	$	18,538	$	12,095
Weighted average common shares outstanding	8,198,188		7,673,085
Net dilutive effect of:
Assumed exercises of stock options	118,348		92,778
Average shares and dilutive potential common shares	8,316,536		7,765,863
Dilutive earnings per share	$	2.23	$	1.56

SECURITIES (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Schedule of Debt Securities, Available-for-sale

The amortized cost and fair value of securities at March 31, 2022 and December 31, 2021 are summarized as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
March 31, 2022
Securities Available for Sale
U.S. Treasury securities	$	9,797	$	—	$	(556)	$	9,241
U.S. Government Sponsored Enterprises (GSEs)	8,453		—		(414)		8,039
State and municipal securities	56,963		607		(2,924)		54,646
Corporate debt securities	10,528		129		(216)		10,441
Asset based securities	10,096		14		(105)		10,005
Mortgage-backed GSE residential/multifamily and non-GSE	60,264		6		(1,615)		58,655
Total securities available for sale	$	156,101	$	756	$	(5,830)	$	151,027
Securities Held to Maturity


State and municipal securities	19,667		—		(1,440)		18,227



Total securities held to maturity	$	19,667	$	—	$	(1,440)	$	18,227
Total securities	$	175,768	$	756	$	(7,270)	$	169,254


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	7,820	$	22	$	(20)	$	7,822
U.S. Government Sponsored Enterprises (GSEs)	9,228		68		(103)		9,193
State and municipal securities	54,236		2,611		(66)		56,781
Corporate debt securities	10,530		289		(35)		10,784
Asset based securities	10,380		116		(24)		10,472
Mortgage-backed GSE residential/multifamily and non-GSE	37,123		185		(188)		37,120
Total securities available for sale	$	129,317	$	3,291	$	(436)	$	132,172
Securities Held to Maturity


State and municipal securities	19,672		364		(126)		19,910



Total securities held to maturity	$	19,672	$	364	$	(126)	$	19,910
Total securities	$	148,989	$	3,655	$	(562)	$	152,082

The amortized cost and fair value of securities at December 31, 2021 and December 31, 2020 are summarized as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	7,820	$	22	$	(20)	$	7,822
U.S. Government Sponsored Enterprises (GSEs)	9,228		68		(103)		9,193
State and municipal securities	54,236		2,611		(66)		56,781
Corporate debt securities	10,530		289		(35)		10,784
Asset based securities	10,380		116		(24)		10,472
Mortgage-backed GSE residential/multifamily and non-GSE	37,123		185		(188)		37,120
Total securities available for sale	$	129,317	$	3,291	$	(436)	$	132,172

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—
State and municipal securities	19,672		364		(126)		19,910
Corporate debt securities	—		—		—		—
Asset based securities	—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—
Total securities held to maturity	$	19,672	$	364	$	(126)	$	19,910
Total securities	$	148,989	$	3,655	$	(562)	$	152,082

NOTE 3. SECURITIES (Continued)


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2020
Securities Available for Sale
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	9,154		246		(34)		9,366
State and municipal securities	64,468		3,531		(58)		67,941
Corporate debt securities	8,286		188		(5)		8,469
Asset based securities	9,035		76		—		9,111
Mortgage-backed GSE residential/multifamily and non-GSE	18,753		394		(33)		19,114
Total securities available for sale	$	109,696	$	4,435	$	(130)	$	114,001

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—
State and municipal securities	—		—		—		—
Corporate debt securities	—		—		—		—
Asset based securities	—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—
Total securities held to maturity	$	—	$	—	$	—	$	—
Total securities	$	109,696	$	4,435	$	(130)	$	114,001

Schedule of Debt Securities, Held-to-maturity

The amortized cost and fair value of securities at March 31, 2022 and December 31, 2021 are summarized as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
March 31, 2022
Securities Available for Sale
U.S. Treasury securities	$	9,797	$	—	$	(556)	$	9,241
U.S. Government Sponsored Enterprises (GSEs)	8,453		—		(414)		8,039
State and municipal securities	56,963		607		(2,924)		54,646
Corporate debt securities	10,528		129		(216)		10,441
Asset based securities	10,096		14		(105)		10,005
Mortgage-backed GSE residential/multifamily and non-GSE	60,264		6		(1,615)		58,655
Total securities available for sale	$	156,101	$	756	$	(5,830)	$	151,027
Securities Held to Maturity


State and municipal securities	19,667		—		(1,440)		18,227



Total securities held to maturity	$	19,667	$	—	$	(1,440)	$	18,227
Total securities	$	175,768	$	756	$	(7,270)	$	169,254


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	7,820	$	22	$	(20)	$	7,822
U.S. Government Sponsored Enterprises (GSEs)	9,228		68		(103)		9,193
State and municipal securities	54,236		2,611		(66)		56,781
Corporate debt securities	10,530		289		(35)		10,784
Asset based securities	10,380		116		(24)		10,472
Mortgage-backed GSE residential/multifamily and non-GSE	37,123		185		(188)		37,120
Total securities available for sale	$	129,317	$	3,291	$	(436)	$	132,172
Securities Held to Maturity


State and municipal securities	19,672		364		(126)		19,910



Total securities held to maturity	$	19,672	$	364	$	(126)	$	19,910
Total securities	$	148,989	$	3,655	$	(562)	$	152,082

The amortized cost and fair value of securities at December 31, 2021 and December 31, 2020 are summarized as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	7,820	$	22	$	(20)	$	7,822
U.S. Government Sponsored Enterprises (GSEs)	9,228		68		(103)		9,193
State and municipal securities	54,236		2,611		(66)		56,781
Corporate debt securities	10,530		289		(35)		10,784
Asset based securities	10,380		116		(24)		10,472
Mortgage-backed GSE residential/multifamily and non-GSE	37,123		185		(188)		37,120
Total securities available for sale	$	129,317	$	3,291	$	(436)	$	132,172

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—
State and municipal securities	19,672		364		(126)		19,910
Corporate debt securities	—		—		—		—
Asset based securities	—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—
Total securities held to maturity	$	19,672	$	364	$	(126)	$	19,910
Total securities	$	148,989	$	3,655	$	(562)	$	152,082

NOTE 3. SECURITIES (Continued)


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2020
Securities Available for Sale
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	9,154		246		(34)		9,366
State and municipal securities	64,468		3,531		(58)		67,941
Corporate debt securities	8,286		188		(5)		8,469
Asset based securities	9,035		76		—		9,111
Mortgage-backed GSE residential/multifamily and non-GSE	18,753		394		(33)		19,114
Total securities available for sale	$	109,696	$	4,435	$	(130)	$	114,001

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—
State and municipal securities	—		—		—		—
Corporate debt securities	—		—		—		—
Asset based securities	—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—
Total securities held to maturity	$	—	$	—	$	—	$	—
Total securities	$	109,696	$	4,435	$	(130)	$	114,001

Schedule of Investments Classified by Contractual Maturity Date


	March 31, 2022				December 31, 2021
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Securities Available for Sale
Due in less than one year	$	301	$	301	$	302	$	302
Due from one year to five years	6,997		6,881		2,766		2,790
Due after five to ten years	23,679		22,684		26,475		26,764
Due after ten years	64,860		62,506		62,651		65,196
Mortgage-backed securities	60,264		58,655		37,123		37,120
Total securities available for sale	$	156,101	$	151,027	$	129,317	$	132,172
Securities Held to Maturity
Due in less than one year	$	—	$	—	$	—	$	—
Due from one year to five years	—		—		—		—
Due after five to ten years	1,772		1,689		1,100		1,115
Due after ten years	17,895		16,538		18,572		18,795
Mortgage-backed securities	—		—		—		—
Total securities held to maturity	$	19,667	$	18,227	$	19,672	$	19,910
Total securities	$	175,768	$	169,254	$	148,989	$	152,082

NOTE 3. SECURITIES (Continued)


	December 31,
	2021				2020
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Securities Available for Sale
Due in less than one year	$	302	$	302	$	—	$	—
Due from one year to five years	2,766		2,790		1,200		1,241
Due after five to ten years	26,475		26,764		15,518		15,873
Due after ten years	62,651		65,196		74,225		77,773
Mortgage-backed securities	37,123		37,120		18,753		19,114
Total securities available for sale	$	129,317	$	132,172	$	109,696	$	114,001

Securities Held to Maturity
Due in less than one year	$	—	$	—	$	—	$	—
Due from one year to five years	—		—		—		—
Due after five to ten years	1,100		1,115		—		—
Due after ten years	18,572		18,795		—		—
Mortgage-backed securities	—		—		—		—
Total securities held to maturity	$	19,672	$	19,910	$	—	$	—
Total securities	$	148,989	$	152,082	$	109,696	$	114,001

Schedule of Restricted Investments

Restricted equity securities as of March 31, 2022 and December 31, 2021 consist of the following:


	March 31,		December 31,
	2022		2021
Federal Home Loan Bank stock	$	1,900	$	1,675
First National Banker’s Bankshares, Inc. stock	675		675
Pacific Coast Banker’s Bank stock	250		250
Total restricted equity securities	$	2,825	$	2,600

Restricted equity securities as of December 31, 2021 and December 31, 2020 consist of the following:


	December 31,
	2021		2020
Federal Home Loan Bank stock	$	1,675	$	2,299
First National Banker’s Bankshares, Inc. stock	675		675
Pacific Coast Banker’s Bank stock	250		250
Total restricted equity securities	$	2,600	$	3,224

Schedule of Available-for-sale in Continuous Unrealized Loss Position


	Less Than Twelve Months				Over Twelve Months				Total Unrealized Losses
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
March 31, 2022
Securities Available for Sale
U.S. Treasury securities	$	(556)	$	9,241	$	—	$	—	$	(556)
U.S. Government Sponsored Enterprises (GSEs)	(215)		5,596		(199)		2,443		(414)
State and municipal securities	(2,924)		39,112		—		—		(2,924)
Corporate debt securities	(177)		5,351		(39)		711		(216)
Asset based securities	(101)		7,473		(4)		844		(105)
Mortgage-backed GSE residential/multifamily and non-GSE	(1,522)		41,499		(93)		2,442		(1,615)
Total securities available for sale	$	(5,495)	$	108,272	$	(335)	$	6,440	$	(5,830)
Securities Held to Maturity


State and municipal securities	(1,377)		17,786		(63)		441		(1,440)



Total securities held to maturity	$	(1,377)	$	17,786	$	(63)	$	441	$	(1,440)
Total securities	$	(6,872)	$	126,058	$	(398)	$	6,881	$	(7,270)


	Less Than Twelve Months				Over Twelve Months				Total Unrealized Losses
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value

December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	(20)	$	5,347	$	—	$	—	$	(20)
U.S. Government Sponsored Enterprises (GSEs)	(57)		1,946		(46)		1,899		(103)
State and municipal securities	(66)		6,270		—		—		(66)
Corporate debt securities	(35)		2,995		—		—		(35)
Asset based securities	(21)		2,842		(3)		879		(24)
Mortgage-backed GSE residential/multifamily and non-GSE	(158)		16,226		(30)		2,749		(188)
Total securities available for sale	$	(357)	$	35,626	$	(79)	$	5,527	$	(436)
Securities Held to Maturity


State and municipal securities	(126)		6,450		—		—		(126)



Total securities held to maturity	$	(126)	$	6,450	$	—	$	—	$	(126)
Total securities	$	(483)	$	42,076	$	(79)	$	5,527	$	(562)


	Less Than Twelve Months				Over Twelve Months
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Total Unrealized Losses
December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	(20)	$	5,347	$	—	$	—	$	(20)
U.S. Government Sponsored Enterprises (GSEs)	(57)		1,946		(46)		1,899		(103)
State and municipal securities	(66)		6,270		—		—		(66)
Corporate debt securities	(35)		2,995		—		—		(35)
Asset based securities	(21)		2,842		(3)		879		(24)
Mortgage-backed GSE residential/multifamily and non-GSE	(158)		16,226		(30)		2,749		(188)
Total securities available for sale	$	(357)	$	35,626	$	(79)	$	5,527	$	(436)

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—		—
State and municipal securities	(126)		6,450		—		—		(126)
Corporate debt securities	—		—		—		—		—
Asset based securities	—		—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—		—
Total securities held to maturity	$	(126)	$	6,450	$	—	$	—	$	(126)
Total securities	$	(483)	$	42,076	$	(79)	$	5,527	$	(562)

NOTE 3. SECURITIES (Continued)

Temporarily Impaired Securities (Continued)


	Less Than Twelve Months				Over Twelve Months
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Total Unrealized Losses
December 31, 2020
Securities Available for Sale
U.S. Treasury securities	$	—	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	(34)		2,051		—		—		(34)
State and municipal securities	(58)		4,979		—		—		(58)
Corporate debt securities	(5)		1,495		—		—		(5)
Asset based securities	—		960		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	(33)		6,643		—		—		(33)
Total securities available for sale	$	(130)	$	16,128	$	—	$	—	$	(130)

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—		—
State and municipal securities	—		—		—		—		—
Corporate debt securities	—		—		—		—		—
Asset based securities	—		—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—		—
Total securities held to maturity	$	—	$	—	$	—	$	—	$	—
Total securities	$	(130)	$	16,128	$	—	$	—	$	(130)

Debt Securities, Held-to-maturity, Unrealized Loss Position, Fair Value


	Less Than Twelve Months				Over Twelve Months				Total Unrealized Losses
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
March 31, 2022
Securities Available for Sale
U.S. Treasury securities	$	(556)	$	9,241	$	—	$	—	$	(556)
U.S. Government Sponsored Enterprises (GSEs)	(215)		5,596		(199)		2,443		(414)
State and municipal securities	(2,924)		39,112		—		—		(2,924)
Corporate debt securities	(177)		5,351		(39)		711		(216)
Asset based securities	(101)		7,473		(4)		844		(105)
Mortgage-backed GSE residential/multifamily and non-GSE	(1,522)		41,499		(93)		2,442		(1,615)
Total securities available for sale	$	(5,495)	$	108,272	$	(335)	$	6,440	$	(5,830)
Securities Held to Maturity


State and municipal securities	(1,377)		17,786		(63)		441		(1,440)



Total securities held to maturity	$	(1,377)	$	17,786	$	(63)	$	441	$	(1,440)
Total securities	$	(6,872)	$	126,058	$	(398)	$	6,881	$	(7,270)


	Less Than Twelve Months				Over Twelve Months				Total Unrealized Losses
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value

December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	(20)	$	5,347	$	—	$	—	$	(20)
U.S. Government Sponsored Enterprises (GSEs)	(57)		1,946		(46)		1,899		(103)
State and municipal securities	(66)		6,270		—		—		(66)
Corporate debt securities	(35)		2,995		—		—		(35)
Asset based securities	(21)		2,842		(3)		879		(24)
Mortgage-backed GSE residential/multifamily and non-GSE	(158)		16,226		(30)		2,749		(188)
Total securities available for sale	$	(357)	$	35,626	$	(79)	$	5,527	$	(436)
Securities Held to Maturity


State and municipal securities	(126)		6,450		—		—		(126)



Total securities held to maturity	$	(126)	$	6,450	$	—	$	—	$	(126)
Total securities	$	(483)	$	42,076	$	(79)	$	5,527	$	(562)


	Less Than Twelve Months				Over Twelve Months
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Total Unrealized Losses
December 31, 2021
Securities Available for Sale
U.S. Treasury securities	$	(20)	$	5,347	$	—	$	—	$	(20)
U.S. Government Sponsored Enterprises (GSEs)	(57)		1,946		(46)		1,899		(103)
State and municipal securities	(66)		6,270		—		—		(66)
Corporate debt securities	(35)		2,995		—		—		(35)
Asset based securities	(21)		2,842		(3)		879		(24)
Mortgage-backed GSE residential/multifamily and non-GSE	(158)		16,226		(30)		2,749		(188)
Total securities available for sale	$	(357)	$	35,626	$	(79)	$	5,527	$	(436)

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—		—
State and municipal securities	(126)		6,450		—		—		(126)
Corporate debt securities	—		—		—		—		—
Asset based securities	—		—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—		—
Total securities held to maturity	$	(126)	$	6,450	$	—	$	—	$	(126)
Total securities	$	(483)	$	42,076	$	(79)	$	5,527	$	(562)

NOTE 3. SECURITIES (Continued)

Temporarily Impaired Securities (Continued)


	Less Than Twelve Months				Over Twelve Months
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Total Unrealized Losses
December 31, 2020
Securities Available for Sale
U.S. Treasury securities	$	—	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	(34)		2,051		—		—		(34)
State and municipal securities	(58)		4,979		—		—		(58)
Corporate debt securities	(5)		1,495		—		—		(5)
Asset based securities	—		960		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	(33)		6,643		—		—		(33)
Total securities available for sale	$	(130)	$	16,128	$	—	$	—	$	(130)

Securities Held to Maturity
U.S. Treasury securities	$	—	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	—		—		—		—		—
State and municipal securities	—		—		—		—		—
Corporate debt securities	—		—		—		—		—
Asset based securities	—		—		—		—		—
Mortgage-backed GSE residential/multifamily and non-GSE	—		—		—		—		—
Total securities held to maturity	$	—	$	—	$	—	$	—	$	—
Total securities	$	(130)	$	16,128	$	—	$	—	$	(130)

LOANS (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

Schedule of Composition of Loans

The composition of loans, excluding loans held for sale, is summarized as follows:


	March 31, 2022				December 31, 2021
	Amount		% of Total		Amount		% of Total
	(in thousands, except percentages)
Real estate mortgages:
Construction and development	$	165,400	12.6	%	$	174,480	13.9	%
Residential	154,143		11.7	%	147,490		11.8	%
Commercial	765,685		58.3	%	716,541		57.1	%
Commercial and industrial	219,761		16.7	%	206,897		16.5	%
Consumer and other	9,077		0.7	%	8,709		0.7	%
Gross Loans	1,314,066		100.0	%	1,254,117		100.0	%
Deferred loan fees	(3,996)				(3,817)
Allowance for loan losses	(15,492)				(14,844)
Loans, net	$	1,294,578			$	1,235,456

The composition of loans, excluding loans held for sale, is summarized as follows:


	December 31,
	2021				2020
	Amount		% of Total		Amount		% of Total
	(in thousands, except percentages)
Real estate mortgages:
Construction and development	$	174,480	13.9	%	$	102,559	9.9	%
Residential	147,490		11.8	%	152,212		14.7	%
Commercial	716,541		57.1	%	514,923		49.8	%
Commercial and industrial	206,897		16.5	%	254,395		24.6	%
Consumer and other	8,709		0.7	%	9,644		1.0	%
Gross Loans	1,254,117		100.0	%	1,033,733		100.0	%
Deferred loan fees	(3,817)				(3,618)
Allowance for loan losses	(14,844)				(11,859)
Loans, net	$	1,235,456			$	1,018,256

Schedule of Financing Receivable Credit Quality Indicators

The following tables summarize the risk category of the Company’s loan portfolio based upon the most recent analysis performed as of March 31, 2022 and December 31, 2021:


	Pass		Special Mention		Substandard		Doubtful		Total
	(dollars in thousands)
As of March 31, 2022
Real estate mortgages:
Construction and development	$	160,243	$	388	$	4,769	$	—	$	165,400
Residential	149,011		3,841		1,291		—		154,143
Commercial	739,916		15,830		9,939		—		765,685
Commercial and industrial	216,375		3,103		59		224		219,761
Consumer and other	9,054		20		3		—		9,077
Total	$	1,274,599	$	23,182	$	16,061	$	224	$	1,314,066
As of December 31, 2021
Real estate mortgages:
Construction and development	$	168,751	$	388	$	5,341	$	—	$	174,480
Residential	142,782		3,554		1,154		—		147,490
Commercial	691,863		16,371		8,307		—		716,541
Commercial and industrial	203,630		2,960		73		234		206,897
Consumer and other	8,682		21		6		—		8,709
Total	$	1,215,708	$	23,294	$	14,881	$	234	$	1,254,117

The following tables summarize the risk category of the Company’s loan portfolio based upon the most recent analysis performed as of December 31, 2021 and December 31, 2020:


	Pass		Special Mention		Substandard		Doubtful		Total
	(dollars in thousands)
As of December 31, 2021
Real estate mortgages:
Construction and development	$	168,751	$	388	$	5,341	$	—	$	174,480
Residential	142,782		3,554		1,154		—		147,490
Commercial	691,863		16,371		8,307		—		716,541
Commercial and industrial	203,630		2,960		73		234		206,897
Consumer and other	8,682		21		6		—		8,709
Total:	$	1,215,708	$	23,294	$	14,881	$	234	$	1,254,117

As of December 31, 2020
Real estate mortgages:
Construction and development	$	95,214	$	6,113	$	1,232	$	—	$	102,559
Residential	144,256		6,245		1,627		84		152,212
Commercial	471,555		36,754		6,614		—		514,923
Commercial and industrial	240,646		13,138		611		—		254,395
Consumer and other	8,186		1,435		23		—		9,644
Total:	$	959,857	$	63,685	$	10,107	$	84	$	1,033,733

Schedule of Aging Analysis

The following tables present the aging of the recorded investment in loans and leases as of March 31, 2022 and December 31, 2021:


			Past Due Status (Accruing Loans)
	Current		30-59 Days		60-89 Days		90+ Days		Total Past Due		Nonaccrual		Total
As of March 31, 2022
Real estate mortgages:
Construction and development	$	164,583	$	647	$	94	$	—	$	741	$	76	$	165,400
Residential	153,432		201		—		—		201		510		154,143
Commercial	762,558		739		—		—		739		2,388		765,685
Commercial and industrial	219,476		16		—		—		16		269		219,761
Consumer and other	9,074		—		—		—		—		3		9,077
Total	$	1,309,123	$	1,603	$	94	$	—	$	1,697	$	3,246	$	1,314,066
As of December 31, 2021
Real estate mortgages:
Construction and development	$	173,027	$	62	$	746	$	299	$	1,107	$	346	$	174,480
Residential	146,871		129		128		195		452		167		147,490
Commercial	714,092		1,775		—		—		1,775		674		716,541
Commercial and industrial	206,027		99		486		—		585		285		206,897
Consumer and other	8,673		30		—		—		30		6		8,709
Total	$	1,248,690	$	2,095	$	1,360	$	494	$	3,949	$	1,478	$	1,254,117

The following tables present the aging of the recorded investment in loans as of December 31, 2021 and December 31, 2020:


			Past Due Status (Accruing Loans)
	Current		30-59 Days		60-89 Days		90+ Days		Total Past Due		Nonaccrual		Total
As of December 31, 2021
Real estate mortgages:
Construction and development	$	173,027	$	62	$	746	$	299	$	1,107	$	346	$	174,480
Residential	146,871		129		128		195		452		167		147,490
Commercial	714,092		1,775		—		—		1,775		674		716,541
Commercial and industrial	206,027		99		486		—		585		285		206,897
Consumer and other	8,673		30		—		—		30		6		8,709
Total:	$	1,248,690	$	2,095	$	1,360	$	494	$	3,949	$	1,478	$	1,254,117

As of December 31, 2020
Real estate mortgages:
Construction and development	$	101,375	$	117	$	90	$	—	$	207	$	977	$	102,559
Residential	150,837		382		94		42		518		857		152,212
Commercial	512,208		1,196		—		41		1,237		1,478		514,923
Commercial and industrial	252,473		626		1,212		—		1,838		84		254,395
Consumer and other	9,581		18		15		8		41		22		9,644
Total:	$	1,026,474	$	2,339	$	1,411	$	91	$	3,841	$	3,418	$	1,033,733

Schedule of Allowance for Credit Loss


	Real Estate		Commercial		Consumer		Total
Allowance for loan losses:
Balance at December 31, 2021	$	11,554	$	3,166	$	124	$	14,844
Provision (credit) for loan losses	(1,299)		2,009		(10)		700
Loans charged off	(66)		—		(6)		(72)
Recoveries of loans previously charged off	17		—		3		20
Ending balance at March 31, 2022	$	10,206	$	5,175	$	111	$	15,492
Ending balance - individually evaluated for impairment	$	400	$	269	$	—	$	669
Ending balance - collectively evaluated for impairment	9,743		4,906		111		14,760
Ending balance - loans acquired with deteriorated credit quality	63		—		—		63
Total ending balance at March 31, 2022	$	10,206	$	5,175	$	111	$	15,492
Loans:
Ending balance - individually evaluated for impairment	$	15,943	$	283	$	22	$	16,248
Ending balance - collectively evaluated for impairment	1,068,050		219,478		9,055		1,296,583
Ending balance - loans acquired with deteriorated credit quality	1,235		—		—		1,235
Total ending balance at March 31, 2022	$	1,085,228	$	219,761	$	9,077	$	1,314,066


	Real Estate		Commercial		Consumer		Total
Allowance for loan losses:
Balance at December 31, 2020	$	8,057	$	3,609	$	193	$	11,859
Provision (credit) for loan losses	1,231		(428)		(53)		750
Loans charged off	(16)		—		(2)		(18)
Recoveries of loans previously charged off	2		11		1		14
Ending balance at March 31, 2021	$	9,274	$	3,192	$	139	$	12,605
Ending balance - individually evaluated for impairment	$	357	$	390	$	12	$	759
Ending balance - collectively evaluated for impairment	8,823		2,802		127		11,752
Ending balance - loans acquired with deteriorated credit quality	94		—		—		94
Total ending balance at March 31, 2021	$	9,274	$	3,192	$	139	$	12,605
Loans:
Ending balance - individually evaluated for impairment	$	15,829	$	583	$	42	$	16,454
Ending balance - collectively evaluated for impairment	830,912		229,574		9,158		1,069,644
Ending balance - loans acquired with deteriorated credit quality	1,363		—		—		1,363
Total ending balance at March 31, 2021	$	848,104	$	230,157	$	9,200	$	1,087,461


	Real Estate		Commercial		Consumer		Total
Allowance for loan losses:
Balance at December 31, 2020	$	8,057	$	3,609	$	193	$	11,859
Provision (credit) for loan losses	3,516		(458)		(76)		2,982
Loans charged off	(44)		—		(2)		(46)
Recoveries of loans previously charged off	25		15		9		49
Ending balance at December 31, 2021	$	11,554	$	3,166	$	124	$	14,844

Ending balance - individually evaluated for impairment	$	340	$	292	$	3	$	635
Ending balance - collectively evaluated for impairment	11,145		2,874		121		14,140
Ending balance - loans acquired with deteriorated credit quality	69		—		—		69
Total ending balance at December 31, 2021	$	11,554	$	3,166	$	124	$	14,844

Loans:
Ending balance - individually evaluated for impairment	$	14,742	$	307	$	26	$	15,075
Ending balance - collectively evaluated for impairment	1,022,497		206,590		8,683		1,237,770
Ending balance - loans acquired with deteriorated credit quality	1,272		—		—		1,272
Total ending balance at December 31, 2021	$	1,038,511	$	206,897	$	8,709	$	1,254,117

NOTE 4. Loans (Continued)

Allowance for Loans Losses (Continued)


	Real Estate		Commercial		Consumer		Total
Allowance for loan losses:
Balance at December 31, 2019	$	7,254	$	1,885	$	126	$	9,265
Provision for loan losses	1,702		1,598		—		3,300
Loans charged off	(908)		—		(18)		(926)
Recoveries of loans previously charged off	9		126		85		220
Ending balance at December 31, 2020	$	8,057	$	3,609	$	193	$	11,859

Ending balance - individually evaluated for impairment	$	1,352	$	478	$	7	$	1,837
Ending balance - collectively evaluated for impairment	6,476		3,131		186		9,793
Ending balance - loans acquired with deteriorated credit quality	229		—		—		229
Total ending balance at December 31, 2020	$	8,057	$	3,609	$	193	$	11,859

Loans:
Ending balance - individually evaluated for impairment	$	11,527	$	856	$	37	$	12,420
Ending balance - collectively evaluated for impairment	756,489		253,539		9,607		1,019,635
Ending balance - loans acquired with deteriorated credit quality	1,678		—		—		1,678
Total ending balance at December 31, 2020	$	769,694	$	254,395	$	9,644	$	1,033,733

Schedule of Impaired Loans

The following tables detail our impaired loans, by portfolio class as of March 31, 2022 and December 31, 2021.


	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
March 31, 2022
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	4,810	$	4,810	$	—	$	4,813
Residential	1,477		1,477		—		1,485
Commercial	7,891		7,891		—		7,922
Commercial and industrial	14		14		—		17
Consumer and other	22		22		—		23
Total with no related allowance recorded	14,214		14,214		—		14,260
With an allowance recorded:
Real estate mortgages:
Construction and development	234		234		62		236
Residential	362		433		97		364
Commercial	2,404		2,404		304		2,406
Commercial and industrial	269		269		269		276
Consumer and other	—		—		—		—
Total with an allowance recorded	3,269		3,340		732		3,282
Total impaired loans	$	17,483	$	17,554	$	732	$	17,542


	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment
December 31, 2021
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	5,258	$	5,258	$	—	$	5,261
Residential	1,081		1,081		—		1,090
Commercial	7,992		7,992		—		7,993
Commercial and industrial	22		22		—		25
Consumer and other	15		15		—		16
Total with no related allowance recorded	14,368		14,368		—		14,385
With an allowance recorded:
Real estate mortgages:
Construction and development	370		370		148		370
Residential	633		704		125		636
Commercial	680		680		136		682
Commercial and industrial	285		285		292		289
Consumer and other	11		11		3		11
Total with an allowance recorded	1,979		2,050		704		1,988
Total impaired loans	$	16,347	$	16,418	$	704	$	16,373

A loan held for investment is considered impaired when, based on current information and events, it is probable that we will be unable to collect all amounts due (both principal and interest) according to the terms of the loan agreement. The following tables detail our interest income recognized on impaired loans, by portfolio class in the three months ended March 31, 2022 and 2021.


	Recorded Investment		Average Recorded Investment		Interest Income Recognized
Three Months Ended March 31, 2022
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	4,810	$	4,813	$	55
Residential	1,477		1,485		21
Commercial	7,891		7,922		115
Commercial and industrial	14		17		—
Consumer and other	22		23		—
Total with no related allowance recorded	14,214		14,260		191
With an allowance recorded:
Real estate mortgages:
Construction and development	234		236		3
Residential	362		364		4
Commercial	2,404		2,406		9
Commercial and industrial	269		276		6
Consumer and other	—		—		—
Total with an allowance recorded	3,269		3,282		22
Total impaired loans	$	17,483	$	17,542	$	213


	Recorded Investment		Average Recorded Investment		Interest Income Recognized
Three Months Ended March 31, 2021
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	5,511	$	5,511	$	41
Residential	2,396		2,405		23
Commercial	6,411		6,395		98
Commercial and industrial	200		208		3
Consumer and other	22		23		—
Total with no related allowance recorded	14,540		14,542		165
With an allowance recorded:
Real estate mortgages:
Construction and development	567		573		9
Residential	800		804		11
Commercial	1,507		1,517		22
Commercial and industrial	383		387		5
Consumer and other	20		21		—
Total with an allowance recorded	3,277		3,302		47
Total impaired loans	$	17,817	$	17,844	$	212

The following tables detail our impaired loans, by portfolio class as of December 31, 2021 and December 31, 2020.


	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
December 31, 2021
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	5,258	$	5,258	$	—	$	5,261	$	205
Residential	1,081		1,081		—		1,090		90
Commercial	7,992		7,992		—		7,993		440
Commercial and industrial	22		22		—		25		3
Consumer and other	15		15		—		16		1
Total with no related allowance recorded	14,368		14,368		—		14,385		739

With an allowance recorded:
Real estate mortgages:
Construction and development	370		370		148		370		$	10
Residential	633		704		125		636		27
Commercial	680		680		136		682		32
Commercial and industrial	285		285		292		289		18
Consumer and other	11		11		3		11		1
Total with an allowance recorded	1,979		2,050		704		1,988		88
Total impaired loans:	$	16,347	$	16,418	$	704	$	16,373	$	827

NOTE 4. Loans (Continued)

Impaired Loans (Continued)


	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
December 31, 2020
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	977	$	977	$	—	$	970	$	18
Residential	1,537		1,537		—		1,669		93
Commercial	5,117		5,117		—		5,425		290
Commercial and industrial	65		65		—		91		6
Consumer and other	22		22		—		24		2
Total with no related allowance recorded	7,718		7,718		—		8,179		$	409

With an allowance recorded:
Real estate mortgages:
Construction and development	644		644		106		668		$	34
Residential	1,557		1,628		628		1,636		82
Commercial	3,373		3,373		847		3,526		194
Commercial and industrial	791		791		478		886		58
Consumer and other	15		15		7		15		—
Total with an allowance recorded	6,380		6,451		2,066		6,731		368
Total impaired loans:	$	14,098	$	14,169	$	2,066	$	14,910	$	777

DEPOSITS (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Banking and Thrift, Interest [Abstract]

Composition of Deposits

Major classifications of deposits are as follows:


	March 31, 2022		December 31, 2021
Noninterest-bearing transaction	$	515,110	$	541,546
Interest-bearing transaction	749,119		704,326
Savings	62,462		56,715
Time deposits, $250,000 and under	189,172		224,556
Time deposits, over $250,000	25,976		29,308
	$	1,541,839	$	1,556,451

Major classifications of deposits are as follows:


	December 31,
	2021		2020
Noninterest-bearing transaction	$	541,546	$	290,867
Interest-bearing transaction	704,326		475,757
Savings	56,715		42,731
Time deposits, $250,000 and under	224,556		293,707
Time deposits, over $250,000	29,308		36,599
	$	1,556,451	$	1,139,661

Time Deposit Maturities

Brokered deposits totaled $34,110 at March 31, 2022 and December 31, 2021. The scheduled maturities of time deposits at March 31, 2022 are as follows:


April 1, 2022 to March 31, 2023	$	181,564
April 1, 2023 to March 31, 2024	12,514
April 1, 2024 to March 31, 2025	15,828
April 1, 2025 to March 31, 2026	3,597
April 1, 2026 to March 31, 2027	1,459
Thereafter	186
	$	215,148

The scheduled maturities of time deposits at December 31, 2021 are as follows:


2022	$	212,370
2023	19,162
2024	17,192
2025	3,402
2026	1,552
Thereafter	186
Total	$	253,864

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Values of Derivative Instruments on the Balance Sheet


December 31, 2021						December 31, 2020
Derivatives not Designated as Hedging Instruments	Notional Amount		Balance Sheet Location	Fair Value		Derivatives not Designated as Hedging Instruments	Notional Amount		Balance Sheet Location	Fair Value
Interest Rate Products	$	77,534	Other Assets	$	1,784	Interest Rate Products	$	49,664	Other Assets	$	983
Interest Rate Products	77,534		Other Liabilities	(1,843)		Interest Rate Products	49,664		Other Liabilities	(1,013)

COMMITMENTS AND CONTINGENCIES (Tables)

3 Months Ended

Mar. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Schedule of Loan Commitments

A summary of the Company’s commitments is as follows:


	March 31, 2022		December 31, 2021
Commitments to extend credit	$	313,155	$	314,194
Standby letters of credit	4,428		3,434
Total	$	317,583	$	317,628

- Definition

Tabular disclosure of the loss contingencies that were reported in the period or disclosed as of the balance sheet date.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14472-108349

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14326-108349

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14453-108349

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14615-108349

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124440162&loc=d3e12021-110248

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14394-108349

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14435-108349

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121557415&loc=d3e14557-108349

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 460
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124440162&loc=d3e12053-110248

+ Details

REGULATORY MATTERS (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Regulatory Capital Requirements Under Banking Regulations [Abstract]

Schedule of Regulatory Capital and Ratios


	Actual				Required for Capital Adequacy Purposes				Minimums To Be “Well Capitalized” Under Prompt Corrective Action
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
As of March 31, 2022
Tier 1 capital (to average assets)
Company	$	154,648	8.75	%	$	70,717	4.00	%	$	—	—
Bank	$	192,383	10.88	%	$	70,717	4.00	%	$	88,396	5.00	%
CET 1 capital (to risk-weighted assets)
Company	$	154,648	9.90	%	$	109,331	7.00	%	$	—	—
Bank	$	192,383	12.32	%	$	109,331	7.00	%	$	101,522	6.50	%
Tier 1 capital (to risk-weighted assets)
Company	$	154,648	9.90	%	$	132,759	8.50	%	$	—	—
Bank	$	192,383	12.32	%	$	132,759	8.50	%	$	124,950	8.00	%
Total capital (to risk-weighted assets)
Company	$	218,140	13.97	%	$	163,997	10.50	%	$	—	—
Bank	$	207,875	13.31	%	$	163,997	10.50	%	$	156,187	10.00	%


	Actual				Required for Capital Adequacy Purposes				Minimums To Be “Well Capitalized” Under Prompt Corrective Action
	Amount		Ratio		Amount		Ratio		Amount		Ratio
	(dollars in thousands)
As of December 31, 2021
Tier 1 capital (to average assets)
Company	$	156,723	9.74	%	$	64,376	4.00	%	$	—	—
Bank	$	168,027	10.44	%	$	64,376	4.00	%	$	80,470	5.00	%
CET 1 capital (to risk-weighted assets)
Company	$	156,723	10.35	%	$	106,019	7.00	%	$	—	—
Bank	$	168,027	11.09	%	$	106,019	7.00	%	$	98,446	6.50	%
Tier 1 capital (to risk-weighted assets)
Company	$	156,723	10.35	%	$	128,737	8.50	%	$	—	—
Bank	$	168,027	11.09	%	$	128,737	8.50	%	$	121,164	8.00	%
Total capital (to risk-weighted assets)
Company	$	171,567	11.33	%	$	159,028	10.50	%	$	—	—
Bank	$	182,871	12.07	%	$	159,028	10.50	%	$	151,455	10.00	%


	Actual				Required for Capital Adequacy Purposes				Minimums To Be “Well Capitalized” Under Prompt Corrective Action

	Amount		Ratio		Amount		Ratio		Amount		Ratio
As of December 31, 2021

Tier 1 capital (to average assets)
Company	$	156,723	9.74	%	$	64,376	4.00	%	$	—	—
Bank	$	168,027	10.44	%	$	64,376	4.00	%	$	80,470	5.00	%

CET 1 capital (to risk-weighted assets)
Company	$	156,723	10.35	%	$	106,019	7.00	%	$	—	—
Bank	$	168,027	11.09	%	$	106,019	7.00	%	$	98,446	6.50	%

Tier 1 capital (to risk-weighted assets)
Company	$	156,723	10.35	%	$	128,737	8.50	%	$	—	—
Bank	$	168,027	11.09	%	$	128,737	8.50	%	$	121,164	8.00	%

Total capital (to risk-weighted assets)
Company	$	171,567	11.33	%	$	159,028	10.50	%	$	—	—
Bank	$	182,871	12.07	%	$	159,028	10.50	%	$	151,455	10.00	%

NOTE 16. REGULATORY MATTERS (Continued)


	Actual				Required for Capital Adequacy Purposes				Minimums To Be “Well Capitalized” Under Prompt Corrective Action

	Amount		Ratio		Amount		Ratio		Amount		Ratio
As of December 31, 2020

Tier 1 capital (to average assets)
Company	$	118,837	9.24	%	$	51,426	4.00	%	$	—	—
Bank	$	130,852	10.18	%	$	51,426	4.00	%	$	77,139	5.00	%

CET 1 capital (to risk-weighted assets)
Company	$	118,837	10.63	%	$	78,257	7.00	%	$	—	—
Bank	$	130,852	11.70	%	$	78,257	7.00	%	$	72,667	6.50	%

Tier 1 capital (to risk-weighted assets)
Company	$	118,837	10.63	%	$	95,026	8.50	%	$	—	—
Bank	$	130,852	11.70	%	$	95,026	8.50	%	$	89,436	8.00	%

Total capital (to risk-weighted assets)
Company	$	135,196	12.09	%	$	117,835	10.50	%	$	—	—
Bank	$	142,711	12.77	%	$	117,835	10.50	%	$	117,795	10.00	%

FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2022

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Information related to the Company’s assets and liabilities measured at fair value on a recurring basis at March 31, 2022 and December 31, 2021 is as follows:


	Fair Value Measurements At Reporting Date Using:
	Fair Value		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
March 31, 2022
U.S. Treasury securities	$	9,241	$	—	$	9,241	$	—
U.S. Government Sponsored Enterprises (GSEs)	8,039		—		8,039		—
State and municipal securities	54,646		—		54,646		—
Corporate debt securities	10,441		—		10,441		—
Asset based securities	10,005		—		10,005		—
Mortgage-backed GSE residential/multifamily and non-GSE	58,655		—		58,655		—
Other equity securities	8,937		4,854		—		4,083
Interest Rate Products - asset	4,278		—		4,278		—
Interest Rate Products - liabilities	(4,322)		—		(4,322)		—
December 31, 2021
U.S. Treasury securities	$	7,822	$	—	$	7,822	$	—
U.S. Government Sponsored Enterprises (GSEs)	9,193		—		9,193		—
State and municipal securities	56,781		—		56,781		—
Corporate debt securities	10,784		—		10,784		—
Asset based securities	10,472		—		10,472		—
Mortgage-backed GSE residential/multifamily and non-GSE	37,120		—		37,120		—
Other equity securities	9,232		4,985		—		4,247
Interest Rate Products - asset	1,784		—		1,784		—
Interest Rate Products - liabilities	(1,843)		—		(1,843)		—

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


	March 31, 2022
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	208,824	$	208,824	$	—	$	—
Securities available for sale	151,027		—		151,027		—
Other equity securities	8,937		4,854		—		4,083
Loans held for sale	2,509		—		2,509		—
Trading assets	4,278		—		4,278		—
Loans, net	1,294,578		—		1,277,836		8,329
Bank owned life insurance	29,343		—		29,343		—
Annuities	15,523		—		15,523		—
Accrued interest receivable	4,427		—		4,427		—
Restricted equity securities	2,825		—		—		2,825

Financial liabilities:
Deposits	$	1,541,839	$	—	$	1,469,334	$	—
Trading liabilities	4,322		—		4,322		—
FHLB advances	25,950		—		25,829		—
Other borrowings	—		—		—		—
Subordinated notes	47,154		—		47,154		—
Accrued interest payable	107		—		107		—


	December 31, 2021
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	283,956	$	283,956	$	—	$	—
Securities available for sale	132,172		—		132,172		—
Other equity securities	9,232		4,985		—		4,247
Loans held for sale	2,400		—		2,400		—
Trading assets	1,784		—		1,784		—
Loans, net	1,235,456		—		1,237,491		7,718
Bank owned life insurance	22,201		—		22,201		—
Annuities	12,888		—		12,888		—
Accrued interest receivable	4,170		—		4,170		—
Restricted equity securities	2,600		—		—		2,600

Financial liabilities:
Deposits	$	1,556,451	$	—	$	1,507,190	$	—
Trading liabilities	1,843		—		1,843		—
FHLB advances	25,950		—		25,926		—
Other borrowings	12,498		—		12,498		—
Subordinated notes	—		—		—		—
Accrued interest payable	132		—		132		—

Information related to the Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2021 and December 31, 2020 is as follows:


	Fair Value Measurements At Reporting Date Using:
	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, 2021
U.S. Treasury securities	$	7,822	$	—	$	7,822	$	—
U.S. Government Sponsored Enterprises (GSEs)	9,193		—		9,193		—
State and municipal securities	56,781		—		56,781		—
Corporate debt securities	10,784		—		10,784		—
Asset based securities	10,472		—		10,472		—
Mortgage-backed GSE residential/multifamily and non GSE	37,120		—		37,120		—
Other equity securities	9,232		4,985		—		4,247
Interest Rate Products - asset	1,784		—		1,784		—
Interest Rate Products - liabilities	(1,843)		—		(1,843)		—

December 31, 2020
U.S. Treasury securities	$	—	$	—	$	—	$	—
U.S. Government Sponsored Enterprises (GSEs)	9,366		—		9,366		—
State and municipal securities	67,941		—		67,941		—
Corporate debt securities	8,469		—		8,469		—
Asset based securities	9,111		—		9,111		—
Mortgage-backed GSE residential/multifamily and non-GSE	19,114		—		19,114		—
Other equity securities	5,017		5,017		—		—
Interest Rate Products - asset	983		—		983		—
Interest Rate Products - liabilities	(1,013)		—		(1,013)		—

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


	December 31, 2021
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	283,956	$	283,956	$	—	$	—
Securities available for sale	132,172		—		132,172		—
Other equity securities	9,232		4,985		—		4,247
Loans held for sale	2,400		—		2,400		—
Trading assets	1,784		—		1,784		—
Loans, net	1,235,456		—		1,237,491		7,718
Bank owned life insurance	22,201		—		22,201		—
Annuities	12,888		—		12,888		—

Accrued interest receivable	4,170		—		4,170		—
Restricted equity securities	2,600		—		—		2,600

Financial liabilities:
Deposits	$	1,556,451	$	—	$	1,507,190	$	—
Trading liabilities	1,843		—		1,843		—
FHLB advances	25,950		—		25,926		—
Other borrowings	12,498		—		12,498		—
Subordinated notes	—		—		—		—
Accrued interest payable	132		—		132		—

NOTE 17. FAIR VALUE OF ASSETS AND LIABILITIES (Continued)

Fair Value of Financial Instruments (Continued)


	December 31, 2020
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	84,907	$	84,907	$	—	$	—
Securities available for sale	114,001		—		114,001		—
Other equity securities	5,017		5,017		—		—
Loans held for sale	5,696		—		5,696		—
Trading assets	983		—		983		—
Loans, net	1,018,256		—		1,030,104		4,392
Bank owned life insurance	22,458		—		22,458		—
Annuities	12,903		—		12,903		—

Accrued interest receivable	4,243		—		4,243		—
Restricted equity securities	3,224		—		—		3,224

Financial liabilities:
Deposits	$	1,139,661	$	—	$	1,140,979	$	—
Trading liabilities	1,013		—		1,013		—
FHLB advances	30,900		—		30,962		—
Other borrowings	7,975		—		7,975		—
Subordinated notes	4,493		—		4,493		—
Accrued interest payable	278		—		278		—

Fair Value Measurements, Nonrecurring

Assets measured at fair value on a nonrecurring basis are included in the table below as of March 31, 2022 and December 31, 2021:


	Fair Value Measurements At Reporting Date Using:
	Fair Value		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
March 31, 2022:
Impaired loans	$	8,329	$	—	$	—	$	8,329
Foreclosed assets	2,930		—		—		2,930
Totals	$	11,259	$	—	$	—	$	11,259


	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, 2021:
Impaired loans	$	7,718	$	—	$	—	$	7,718
Foreclosed assets	2,930		—		—		2,930
Totals	$	10,648	$	—	$	—	$	10,648

Assets measured at fair value on a nonrecurring basis are included in the table below as of December 31, 2021 and December 31, 2020:


	Fair Value Measurements At Reporting Date Using:
	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, 2021
Impaired loans	$	7,718	$	—	$	—	$	7,718
Foreclosed assets	2,930		—		—		2,930
Totals	$	10,648	$	—	$	—	10,648


	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, 2020
Impaired loans	$	4,392	$	—	$	—	$	4,392
Foreclosed assets	10,224		—		—		10,224
Totals	$	14,616	$	—	$	—	14,616

Fair Value Measurement Inputs and Valuation Techniques

For Level 3 assets measured at fair value on a nonrecurring basis as of March 31, 2022, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying Amount

Valuation Technique

Significant Unobservable Input

Weighted Average of Input

Nonrecurring:

Impaired loans

8,329

Appraisal

Appraisal discounts (%)

15-20%

Foreclosed assets

2,930

Appraisal

Appraisal discounts (%)

10-15%

For Level 3 assets measured at fair value on a non-recurring basis as of December 31, 2021, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying Amount

Valuation Technique

Significant Unobservable Input

Weighted Average of Input

Nonrecurring:

Impaired loans

7,718

Appraisal

Appraisal discounts (%)

15-20%

Foreclosed assets

2,930

Appraisal

Appraisal discounts (%)

10-15%

For Level 3 assets measured at fair value on a recurring basis as of December 31, 2021, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying

Amount

Valuation

Technique

Significant

Unobservable

Input

Weighted

Average

of Input

Recurring:

Other equity securities

4,247

Discounted cash flow

Discount rate (%)

N/A

For Level 3 assets measured at fair value on a recurring basis as of December 31, 2020, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying

Amount

Valuation Technique

Significant

Unobservable

Input

Weighted

Average

of Input

Recurring:

Other equity securities

—

Discounted cash flow

Discount rate (%)

N/A

NOTE 17. FAIR VALUE OF ASSETS AND LIABILITIES (Continued)

Quantitative Disclosures for Level 3 Fair Value Measurements (Continued)

For Level 3 assets measured at fair value on a nonrecurring basis as of December 31, 2021, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying

Amount

Valuation

Technique

Significant

Unobservable

Input

Weighted

Average

of Input

Nonrecurring:

Impaired loans

7,718

Appraisal

Appraisal discounts (%)

15-20%

Foreclosed assets

2,930

Appraisal

Appraisal discounts (%)

10-15%

For Level 3 assets measured at fair value on a nonrecurring basis as of December 31, 2020, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying

Amount

Valuation

Technique

Significant

Unobservable

Input

Weighted

Average

of Input

Nonrecurring:

Impaired loans

4,392

Appraisal

Appraisal discounts (%)

15-20%

Foreclosed assets

10,224

Appraisal

Appraisal discounts (%)

10-15%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($)			3 Months Ended	12 Months Ended
	Aug. 19, 2021	Aug. 12, 2021	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Reserve balances, Federal Reserve Bank			$ 0	$ 0	$ 0
Goodwill, impairment loss			$ 0	$ 0
IPO
Finite-Lived Intangible Assets [Line Items]
Number of shares sold (in shares)		996,429
Sale of stock (in dollars per share)		$ 19.00
Over-Allotment Option
Finite-Lived Intangible Assets [Line Items]
Number of shares sold (in shares)	300,000
Core Deposits
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, remaining amortization period			7 years	7 years
Impairment of intangible assets, finite-lived			$ 0	$ 0
Minimum \| Building
Finite-Lived Intangible Assets [Line Items]
Premises and equipment, estimated useful life			10 years	10 years
Minimum \| Furniture and equipment
Finite-Lived Intangible Assets [Line Items]
Premises and equipment, estimated useful life			3 years	3 years
Maximum \| Building
Finite-Lived Intangible Assets [Line Items]
Premises and equipment, estimated useful life			39 years	39 years
Maximum \| Furniture and equipment
Finite-Lived Intangible Assets [Line Items]
Premises and equipment, estimated useful life			7 years	7 years

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Basic Earnings Per Share:
Net income	$ 4,557	$ 5,681	$ 18,567	$ 12,107
Weighted average common shares outstanding (in shares)	8,935,384	7,681,578	8,198,188	7,673,085
Basic earnings per share (in dollars per share)	$ 0.51	$ 0.74	$ 2.26	$ 1.58
Diluted Earnings Per Share:
Net income allocated to common shareholders	$ 4,549	$ 5,674	$ 18,538	$ 12,095
Weighted average common shares outstanding (in shares)	8,935,384	7,681,578	8,198,188	7,673,085
Net dilutive effect of:
Assumed exercises of stock options (in shares)	129,980	113,281	118,348	92,778
Average shares and dilutive potential common shares (in shares)	9,065,364	7,794,859	8,316,536	7,765,863
Dilutive earnings per share (in dollars per share)	$ 0.50	$ 0.73	$ 2.23	$ 1.56

SECURITIES - Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 156,101	$ 129,317	$ 109,696
Gross Unrealized Gains	756	3,291	4,435
Gross Unrealized Losses	(5,830)	(436)	(130)
Securities available for sale, at fair value	151,027	132,172	114,001
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	19,667	19,672	0
Gross Unrealized Gains	0	364	0
Gross Unrealized Losses	(1,440)	(126)	0
Securities held to maturity, at amortized cost	18,227	19,910	0
Total securities
Amortized Cost	175,768	148,989	109,696
Gross Unrealized Gains	756	3,655	4,435
Gross Unrealized Losses	(7,270)	(562)	(130)
Fair Value	169,254	152,082	114,001
Debt securities restricted	45,534	46,263	40,983
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	9,797	7,820	0
Gross Unrealized Gains	0	22	0
Gross Unrealized Losses	(556)	(20)	0
Securities available for sale, at fair value	9,241	7,822	0
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost		0	0
Gross Unrealized Gains		0	0
Gross Unrealized Losses		0	0
Securities held to maturity, at amortized cost		0	0
U.S. Government Sponsored Enterprises (GSEs)
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	8,453	9,228	9,154
Gross Unrealized Gains	0	68	246
Gross Unrealized Losses	(414)	(103)	(34)
Securities available for sale, at fair value	8,039	9,193	9,366
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost		0	0
Gross Unrealized Gains		0	0
Gross Unrealized Losses		0	0
Securities held to maturity, at amortized cost		0	0
State and municipal securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	56,963	54,236	64,468
Gross Unrealized Gains	607	2,611	3,531
Gross Unrealized Losses	(2,924)	(66)	(58)
Securities available for sale, at fair value	54,646	56,781	67,941
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	19,667	19,672	0
Gross Unrealized Gains	0	364	0
Gross Unrealized Losses	(1,440)	(126)	0
Securities held to maturity, at amortized cost	18,227	19,910	0
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	10,528	10,530	8,286
Gross Unrealized Gains	129	289	188
Gross Unrealized Losses	(216)	(35)	(5)
Securities available for sale, at fair value	10,441	10,784	8,469
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost		0	0
Gross Unrealized Gains		0	0
Gross Unrealized Losses		0	0
Securities held to maturity, at amortized cost		0	0
Asset based securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	10,096	10,380	9,035
Gross Unrealized Gains	14	116	76
Gross Unrealized Losses	(105)	(24)	0
Securities available for sale, at fair value	10,005	10,472	9,111
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost		0	0
Gross Unrealized Gains		0	0
Gross Unrealized Losses		0	0
Securities held to maturity, at amortized cost		0	0
Mortgage-backed GSE residential/multifamily and non-GSE
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	60,264	37,123	18,753
Gross Unrealized Gains	6	185	394
Gross Unrealized Losses	(1,615)	(188)	(33)
Securities available for sale, at fair value	$ 58,655	37,120	19,114
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost		0	0
Gross Unrealized Gains		0	0
Gross Unrealized Losses		0	0
Securities held to maturity, at amortized cost		$ 0	$ 0

SECURITIES - Amortized Cost and Fair Value by Contractual Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Amortized Cost
Due in less than one year	$ 301	$ 302	$ 0
Due from one year to five years	6,997	2,766	1,200
Due after five to ten years	23,679	26,475	15,518
Due after ten years	64,860	62,651	74,225
Mortgage-backed securities	60,264	37,123	18,753
Amortized Cost	156,101	129,317	109,696
Fair Value
Due in less than one year	301	302	0
Due from one year to five years	6,881	2,790	1,241
Due after five to ten years	22,684	26,764	15,873
Due after ten years	62,506	65,196	77,773
Mortgage-backed securities	58,655	37,120	19,114
Total securities available for sale	151,027	132,172	114,001
Amortized Cost
Due in less than one year	0	0	0
Due from one year to five years	0	0	0
Due after five to ten years	1,772	1,100	0
Due after ten years	17,895	18,572	0
Mortgage-backed securities	0	0	0
Amortized Cost	19,667	19,672	0
Securities Held to Maturity
Due in less than one year	0	0	0
Due from one year to five years	0	0	0
Due after five to ten years	1,689	1,115	0
Due after ten years	16,538	18,795	0
Mortgage-backed securities	0	0	0
Securities held to maturity, at amortized cost	18,227	19,910	0
Total securities
Amortized Cost	175,768	148,989	109,696
Fair Value	$ 169,254	$ 152,082	$ 114,001

SECURITIES- Gains and Losses on Sales of Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Gross gains	$ 862	$ 765
Gross losses	(919)	(23)
Net realized gains (losses)	$ (57)	$ 742

SECURITIES - Restricted Equity Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt and Equity Securities, FV-NI [Line Items]
Restricted equity securities, at cost	$ 2,825	$ 2,600	$ 3,224
Federal Home Loan Bank stock
Debt and Equity Securities, FV-NI [Line Items]
Restricted equity securities, at cost	1,900	1,675	2,299
First National Banker’s Bankshares, Inc. stock
Debt and Equity Securities, FV-NI [Line Items]
Restricted equity securities, at cost	675	675	675
Pacific Coast Banker’s Bank stock
Debt and Equity Securities, FV-NI [Line Items]
Restricted equity securities, at cost	$ 250	$ 250	$ 250

SECURITIES - Continuous Unrealized Loss Position (Details) $ in Thousands	Mar. 31, 2022 USD ($) security	Dec. 31, 2021 USD ($) security	Dec. 31, 2020 USD ($)
Gross Unrealized Losses
Less Than Twelve Months	$ (5,495)	$ (357)	$ (130)
Over Twelve Months	(335)	(79)	0
Total Unrealized Losses	(5,830)	(436)	(130)
Fair Value
Less Than Twelve Months	108,272	35,626	16,128
Over Twelve Months	6,440	5,527	0
Gross Unrealized Losses
Less Than Twelve Months	(1,377)	(126)	0
Over Twelve Months	(63)	0	0
Total Unrealized Losses	(1,440)	(126)	0
Fair Value
Less Than Twelve Months	17,786	6,450	0
Over Twelve Months	441	0	0
Gross Unrealized Losses
Less Than Twelve Months	(6,872)	(483)	(130)
Over Twelve Months	(398)	(79)	0
Total Unrealized Losses	(7,270)	(562)	(130)
Fair Value
Less Than Twelve Months	126,058	42,076	16,128
Over Twelve Months	$ 6,881	$ 5,527	0
Number of securities in loss position \| security	172	55
U.S. Treasury securities
Gross Unrealized Losses
Less Than Twelve Months	$ (556)	$ (20)	0
Over Twelve Months	0	0	0
Total Unrealized Losses	(556)	(20)	0
Fair Value
Less Than Twelve Months	9,241	5,347	0
Over Twelve Months	0	0	0
Gross Unrealized Losses
Less Than Twelve Months		0	0
Over Twelve Months		0	0
Total Unrealized Losses		0	0
Fair Value
Less Than Twelve Months		0	0
Over Twelve Months		0	0
U.S. Government Sponsored Enterprises (GSEs)
Gross Unrealized Losses
Less Than Twelve Months	(215)	(57)	(34)
Over Twelve Months	(199)	(46)	0
Total Unrealized Losses	(414)	(103)	(34)
Fair Value
Less Than Twelve Months	5,596	1,946	2,051
Over Twelve Months	2,443	1,899	0
Gross Unrealized Losses
Less Than Twelve Months		0	0
Over Twelve Months		0	0
Total Unrealized Losses		0	0
Fair Value
Less Than Twelve Months		0	0
Over Twelve Months		0	0
State and municipal securities
Gross Unrealized Losses
Less Than Twelve Months	(2,924)	(66)	(58)
Over Twelve Months	0	0	0
Total Unrealized Losses	(2,924)	(66)	(58)
Fair Value
Less Than Twelve Months	39,112	6,270	4,979
Over Twelve Months	0	0	0
Gross Unrealized Losses
Less Than Twelve Months	(1,377)	(126)	0
Over Twelve Months	(63)	0	0
Total Unrealized Losses	(1,440)	(126)	0
Fair Value
Less Than Twelve Months	17,786	6,450	0
Over Twelve Months	441	0	0
Corporate debt securities
Gross Unrealized Losses
Less Than Twelve Months	(177)	(35)	(5)
Over Twelve Months	(39)	0	0
Total Unrealized Losses	(216)	(35)	(5)
Fair Value
Less Than Twelve Months	5,351	2,995	1,495
Over Twelve Months	711	0	0
Gross Unrealized Losses
Less Than Twelve Months		0	0
Over Twelve Months		0	0
Total Unrealized Losses		0	0
Fair Value
Less Than Twelve Months		0	0
Over Twelve Months		0	0
Asset based securities
Gross Unrealized Losses
Less Than Twelve Months	(101)	(21)	0
Over Twelve Months	(4)	(3)	0
Total Unrealized Losses	(105)	(24)	0
Fair Value
Less Than Twelve Months	7,473	2,842	960
Over Twelve Months	844	879	0
Gross Unrealized Losses
Less Than Twelve Months		0	0
Over Twelve Months		0	0
Total Unrealized Losses		0	0
Fair Value
Less Than Twelve Months		0	0
Over Twelve Months		0	0
Mortgage-backed GSE residential/multifamily and non-GSE
Gross Unrealized Losses
Less Than Twelve Months	(1,522)	(158)	(33)
Over Twelve Months	(93)	(30)	0
Total Unrealized Losses	(1,615)	(188)	(33)
Fair Value
Less Than Twelve Months	41,499	16,226	6,643
Over Twelve Months	$ 2,442	2,749	0
Gross Unrealized Losses
Less Than Twelve Months		0	0
Over Twelve Months		0	0
Total Unrealized Losses		0	0
Fair Value
Less Than Twelve Months		0	0
Over Twelve Months		$ 0	$ 0

SECURITIES - Other-Than-Temporary Impairment (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Securities considered other than temporary impairment	$ 0	$ 0	$ 0

LOANS - Composition of Loans (Details) $ in Thousands	3 Months Ended	12 Months Ended
LOANS - Composition of Loans (Details) $ in Thousands	Mar. 31, 2022 USD ($) segment loan	Dec. 31, 2021 USD ($) segment loan	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 1,314,066	$ 1,254,117	$ 1,087,461	$ 1,033,733
% of Total	100.00%	100.00%		100.00%
Deferred loan fees	$ (3,996)	$ (3,817)		$ (3,618)
Allowance for loan losses	(15,492)	(14,844)	(12,605)	(11,859)	$ (9,265)
Loans, net	$ 1,294,578	$ 1,235,456		1,018,256
Number of loan portfolio segments \| segment	3	3
Loans, net of unearned income	$ 1,310,070	$ 1,250,300		1,030,115
Real estate mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	1,085,228	1,038,511	848,104	769,694
Allowance for loan losses	(10,206)	(11,554)	(9,274)	(8,057)	(7,254)
Real estate mortgages \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 165,400	$ 174,480		$ 102,559
% of Total	12.60%	13.90%		9.90%
Real estate mortgages \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 154,143	$ 147,490		$ 152,212
% of Total	11.70%	11.80%		14.70%
Real estate mortgages \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 765,685	$ 716,541		$ 514,923
% of Total	58.30%	57.10%		49.80%
Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 219,761	$ 206,897	230,157	$ 254,395
% of Total	16.70%	16.50%		24.60%
Allowance for loan losses	$ (5,175)	$ (3,166)	(3,192)	$ (3,609)	(1,885)
Commercial and industrial \| Paycheck Protection Plan
Financing Receivable, Credit Quality Indicator [Line Items]
Number of loans outstanding \| loan	6	36
Loans, net of unearned income	$ 893	$ 9,203
Deferred loan fees	0	298
Adjustment to loan yield	298	2,677
Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 9,077	$ 8,709	9,200	$ 9,644
% of Total	0.70%	0.70%		1.00%
Allowance for loan losses	$ (111)	$ (124)	$ (139)	$ (193)	$ (126)

LOANS - Credit Quality Indicators (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	$ 1,314,066	$ 1,254,117	$ 1,087,461	$ 1,033,733
Real estate mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	1,085,228	1,038,511	848,104	769,694
Real estate mortgages \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	165,400	174,480		102,559
Real estate mortgages \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	154,143	147,490		152,212
Real estate mortgages \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	765,685	716,541		514,923
Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	219,761	206,897	230,157	254,395
Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	9,077	8,709	$ 9,200	9,644
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	1,274,599	1,215,708		959,857
Pass \| Real estate mortgages \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	160,243	168,751		95,214
Pass \| Real estate mortgages \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	149,011	142,782		144,256
Pass \| Real estate mortgages \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	739,916	691,863		471,555
Pass \| Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	216,375	203,630		240,646
Pass \| Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	9,054	8,682		8,186
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	23,182	23,294		63,685
Special Mention \| Real estate mortgages \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	388	388		6,113
Special Mention \| Real estate mortgages \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	3,841	3,554		6,245
Special Mention \| Real estate mortgages \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	15,830	16,371		36,754
Special Mention \| Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	3,103	2,960		13,138
Special Mention \| Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	20	21		1,435
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	16,061	14,881		10,107
Substandard \| Real estate mortgages \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	4,769	5,341		1,232
Substandard \| Real estate mortgages \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	1,291	1,154		1,627
Substandard \| Real estate mortgages \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	9,939	8,307		6,614
Substandard \| Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	59	73		611
Substandard \| Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	3	6		23
Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	224	234		84
Doubtful \| Real estate mortgages \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	0	0		0
Doubtful \| Real estate mortgages \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	0	0		84
Doubtful \| Real estate mortgages \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	0	0		0
Doubtful \| Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	224	234		0
Doubtful \| Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	$ 0	$ 0		$ 0

LOANS - Aging of Recorded Investment (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	$ 1,314,066	$ 1,254,117	$ 1,087,461	$ 1,033,733
Nonaccrual	3,246	1,478		3,418
Real estate mortgages
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,085,228	1,038,511	848,104	769,694
Real estate mortgages \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	165,400	174,480		102,559
Nonaccrual	76	346		977
Real estate mortgages \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	154,143	147,490		152,212
Nonaccrual	510	167		857
Real estate mortgages \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	765,685	716,541		514,923
Nonaccrual	2,388	674		1,478
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	219,761	206,897	230,157	254,395
Nonaccrual	269	285		84
Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	9,077	8,709	$ 9,200	9,644
Nonaccrual	3	6		22
Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,309,123	1,248,690		1,026,474
Current \| Real estate mortgages \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	164,583	173,027		101,375
Current \| Real estate mortgages \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	153,432	146,871		150,837
Current \| Real estate mortgages \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	762,558	714,092		512,208
Current \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	219,476	206,027		252,473
Current \| Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	9,074	8,673		9,581
Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,697	3,949		3,841
Total Past Due \| Real estate mortgages \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	741	1,107		207
Total Past Due \| Real estate mortgages \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	201	452		518
Total Past Due \| Real estate mortgages \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	739	1,775		1,237
Total Past Due \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	16	585		1,838
Total Past Due \| Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	30		41
30-59 Days
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,603	2,095		2,339
30-59 Days \| Real estate mortgages \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	647	62		117
30-59 Days \| Real estate mortgages \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	201	129		382
30-59 Days \| Real estate mortgages \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	739	1,775		1,196
30-59 Days \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	16	99		626
30-59 Days \| Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	30		18
60-89 Days
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	94	1,360		1,411
60-89 Days \| Real estate mortgages \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	94	746		90
60-89 Days \| Real estate mortgages \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	128		94
60-89 Days \| Real estate mortgages \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0		0
60-89 Days \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	486		1,212
60-89 Days \| Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0		15
90+ Days
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	494		91
90+ Days \| Real estate mortgages \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	299		0
90+ Days \| Real estate mortgages \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	195		42
90+ Days \| Real estate mortgages \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0		41
90+ Days \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0		0
90+ Days \| Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	$ 0	$ 0		$ 8

LOANS - Allowance for Loans Losses (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Allowance for loan losses:
Beginning balance	$ 14,844	$ 11,859	$ 11,859	$ 9,265
Provision (credit) for loan losses	700	750	2,982	3,300
Loans charged off	(72)	(18)	(46)	(926)
Recoveries of loans previously charged off	20	14	49	220
Ending balance	15,492	12,605	14,844	11,859
Ending balance - individually evaluated for impairment	669	759	635	1,837
Ending balance - collectively evaluated for impairment	14,760	11,752	14,140	9,793
Loans:
Ending balance - individually evaluated for impairment	16,248	16,454	15,075	12,420
Ending balance - collectively evaluated for impairment	1,296,583	1,069,644	1,237,770	1,019,635
Gross loans	1,314,066	1,087,461	1,254,117	1,033,733
Loans acquired with credit deterioration
Allowance for loan losses:
Beginning balance	69	229	229
Ending balance	63	94	69	229
Loans:
Gross loans	1,235	1,363	1,272	1,678
Real estate mortgages
Allowance for loan losses:
Beginning balance	11,554	8,057	8,057	7,254
Provision (credit) for loan losses	(1,299)	1,231	3,516	1,702
Loans charged off	(66)	(16)	(44)	(908)
Recoveries of loans previously charged off	17	2	25	9
Ending balance	10,206	9,274	11,554	8,057
Ending balance - individually evaluated for impairment	400	357	340	1,352
Ending balance - collectively evaluated for impairment	9,743	8,823	11,145	6,476
Loans:
Ending balance - individually evaluated for impairment	15,943	15,829	14,742	11,527
Ending balance - collectively evaluated for impairment	1,068,050	830,912	1,022,497	756,489
Gross loans	1,085,228	848,104	1,038,511	769,694
Real estate mortgages \| Loans acquired with credit deterioration
Allowance for loan losses:
Beginning balance	69	229	229
Ending balance	63	94	69	229
Loans:
Gross loans	1,235	1,363	1,272	1,678
Commercial and industrial
Allowance for loan losses:
Beginning balance	3,166	3,609	3,609	1,885
Provision (credit) for loan losses	2,009	(428)	(458)	1,598
Loans charged off	0	0	0	0
Recoveries of loans previously charged off	0	11	15	126
Ending balance	5,175	3,192	3,166	3,609
Ending balance - individually evaluated for impairment	269	390	292	478
Ending balance - collectively evaluated for impairment	4,906	2,802	2,874	3,131
Loans:
Ending balance - individually evaluated for impairment	283	583	307	856
Ending balance - collectively evaluated for impairment	219,478	229,574	206,590	253,539
Gross loans	219,761	230,157	206,897	254,395
Commercial and industrial \| Loans acquired with credit deterioration
Allowance for loan losses:
Beginning balance	0	0	0
Ending balance	0	0	0	0
Loans:
Gross loans	0	0	0	0
Consumer and other
Allowance for loan losses:
Beginning balance	124	193	193	126
Provision (credit) for loan losses	(10)	(53)	(76)	0
Loans charged off	(6)	(2)	(2)	(18)
Recoveries of loans previously charged off	3	1	9	85
Ending balance	111	139	124	193
Ending balance - individually evaluated for impairment	0	12	3	7
Ending balance - collectively evaluated for impairment	111	127	121	186
Loans:
Ending balance - individually evaluated for impairment	22	42	26	37
Ending balance - collectively evaluated for impairment	9,055	9,158	8,683	9,607
Gross loans	9,077	9,200	8,709	9,644
Consumer and other \| Loans acquired with credit deterioration
Allowance for loan losses:
Beginning balance	0	0	0
Ending balance	0	0	0	0
Loans:
Gross loans	$ 0	$ 0	$ 0	$ 0

LOANS - Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
LOANS - Impaired Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
With no related allowance recorded:
Recorded Investment	$ 14,214	$ 14,540	$ 14,368	$ 7,718
Unpaid Principal Balance	14,214		14,368	7,718
Average Recorded Investment	14,260	14,542	14,385	8,179
Interest Income Recognized			739	409
With an allowance recorded:
Recorded Investment	3,269	3,277	1,979	6,380
Unpaid Principal Balance	3,340		2,050	6,451
Related Allowance	732		704	2,066
Average Recorded Investment	3,282	3,302	1,988	6,731
Interest Income Recognized			88	368
Total impaired loans:
Recorded Investment	17,483	17,817	16,347	14,098
Unpaid Principal Balance	17,554		16,418	14,169
Average Recorded Investment	17,542	17,844	16,373	14,910
Interest Income Recognized			827	777
Real estate mortgages \| Construction and development
With no related allowance recorded:
Recorded Investment	4,810	5,511	5,258	977
Unpaid Principal Balance	4,810		5,258	977
Average Recorded Investment	4,813	5,511	5,261	970
Interest Income Recognized			205	18
With an allowance recorded:
Recorded Investment	234	567	370	644
Unpaid Principal Balance	234		370	644
Related Allowance	62		148	106
Average Recorded Investment	236	573	370	668
Interest Income Recognized			10	34
Real estate mortgages \| Residential
With no related allowance recorded:
Recorded Investment	1,477	2,396	1,081	1,537
Unpaid Principal Balance	1,477		1,081	1,537
Average Recorded Investment	1,485	2,405	1,090	1,669
Interest Income Recognized			90	93
With an allowance recorded:
Recorded Investment	362	800	633	1,557
Unpaid Principal Balance	433		704	1,628
Related Allowance	97		125	628
Average Recorded Investment	364	804	636	1,636
Interest Income Recognized			27	82
Real estate mortgages \| Commercial
With no related allowance recorded:
Recorded Investment	7,891	6,411	7,992	5,117
Unpaid Principal Balance	7,891		7,992	5,117
Average Recorded Investment	7,922	6,395	7,993	5,425
Interest Income Recognized			440	290
With an allowance recorded:
Recorded Investment	2,404	1,507	680	3,373
Unpaid Principal Balance	2,404		680	3,373
Related Allowance	304		136	847
Average Recorded Investment	2,406	1,517	682	3,526
Interest Income Recognized			32	194
Commercial and industrial
With no related allowance recorded:
Recorded Investment	14	200	22	65
Unpaid Principal Balance	14		22	65
Average Recorded Investment	17	208	25	91
Interest Income Recognized			3	6
With an allowance recorded:
Recorded Investment	269	383	285	791
Unpaid Principal Balance	269		285	791
Related Allowance	269		292	478
Average Recorded Investment	276	387	289	886
Interest Income Recognized			18	58
Consumer and other
With no related allowance recorded:
Recorded Investment	22	22	15	22
Unpaid Principal Balance	22		15	22
Average Recorded Investment	23	23	16	24
Interest Income Recognized			1	2
With an allowance recorded:
Recorded Investment	0	20	11	15
Unpaid Principal Balance	0		11	15
Related Allowance	0		3	7
Average Recorded Investment	$ 0	$ 21	11	15
Interest Income Recognized			$ 1	$ 0

LOANS - Troubled Debt Restructurings (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) loan	Dec. 31, 2020 USD ($) loan
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable troubled debt restructuring	$ 2,012	$ 1,754
Number of loans \| loan	5	2
Recorded investment prior to modification	$ 729	$ 293
Recorded investment after modification	688	286
Impact on the allowance for loan losses	$ 63	$ 278
Troubled debt restructuring, subsequent default, number of contracts \| loan	3	0
Nonperforming Financial Instruments
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable troubled debt restructuring	$ 1,072	$ 1,275
Performing Financial Instruments
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable troubled debt restructuring	$ 940	$ 479
Real estate mortgages \| Construction and development
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of loans \| loan	2	0
Recorded investment prior to modification	$ 189	$ 0
Recorded investment after modification	178	0
Impact on the allowance for loan losses	$ 63	$ 0
Real estate mortgages \| Residential
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of loans \| loan	1	0
Recorded investment prior to modification	$ 3	$ 0
Recorded investment after modification	0	0
Impact on the allowance for loan losses	$ 0	$ 0
Real estate mortgages \| Commercial
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of loans \| loan	2	0
Recorded investment prior to modification	$ 537	$ 0
Recorded investment after modification	510	0
Impact on the allowance for loan losses	$ 0	$ 0
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of loans \| loan	0	1
Recorded investment prior to modification	$ 0	$ 277
Recorded investment after modification	0	271
Impact on the allowance for loan losses	$ 0	$ 271
Consumer and other
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of loans \| loan	0	1
Recorded investment prior to modification	$ 0	$ 16
Recorded investment after modification	0	15
Impact on the allowance for loan losses	$ 0	$ 7

FORECLOSED ASSETS - Foreclosed Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Foreclosed Assets [Roll Forward]
Balance, beginning of year	$ 10,224	$ 7,042
Acquired through settlement of loans	100	10,088
Sales proceeds	(7,187)	(5,910)
Write-downs	0	(920)
Net gain (loss) on sales of foreclosed assets	(207)	76
Receivable from SBA	0	(152)
Balance, end of year	$ 2,930	$ 10,224

FORECLOSED ASSETS - Net Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Repossessed Assets [Abstract]
Net (gain) loss on sales of foreclosed assets	$ 207	$ (76)
Write-downs	0	920
Operating expenses, net of rental income	(366)	102
Net (income) expense	(159)	946
Other real estate	$ 60	$ 145

PREMISES AND EQUIPMENT - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Premises and equipment, gross		$ 35,558	$ 36,538
Accumulated depreciation		(8,514)	(12,112)
Premises and equipment, net	$ 28,065	27,044	24,426
Land and land improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross		8,169	8,169
Building
Property, Plant and Equipment [Line Items]
Premises and equipment, gross		22,604	21,109
Furniture and equipment
Property, Plant and Equipment [Line Items]
Premises and equipment, gross		$ 4,785	$ 7,260

LEASES - Future Obligations (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Lessee, Lease, Description [Line Items]
2022	$ 156
2023	143
2024	58
Total Lease Payments	357
Less: Interest	(18)
Operating Lease Liability	339
Lessee, Operating Lease, Excluding Renewal Options
Lessee, Lease, Description [Line Items]
2022	160
2023	143
2024	58
Total Lease Payments	$ 361

LEASES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Rental expense	$ 488	$ 473

LEASES - Operating Leases (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Leases [Abstract]
Operating lease right-of-use assets	$ 338
Operating Lease Liability	$ 339
Weighted average remaining operating lease term (in years)	1 year 8 months 12 days
Weighted average operating lease discount rate	4.50%
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities

DEPOSITS (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Banking and Thrift, Interest [Abstract]
Noninterest-bearing transaction	$ 515,110	$ 541,546	$ 290,867
Interest-bearing transaction	749,119	704,326	475,757
Savings	62,462	56,715	42,731
Time deposits, $250,000 and under	189,172	224,556	293,707
Time deposits, over $250,000	25,976	29,308	36,599
Total deposits	$ 1,541,839	$ 1,556,451	$ 1,139,661

DEPOSITS - Schedule Maturities of Time Deposits (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Banking and Thrift, Interest [Abstract]
2022		$ 212,370
2023		19,162
2024		17,192
2025		3,402
2026		1,552
Thereafter		186
Time deposits	$ 215,148	$ 253,864

DEPOSITS - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Banking and Thrift, Interest [Abstract]
Brokered deposits	$ 34,110	$ 34,110	$ 34,151
Overdrawn deposits reclassified as loans	$ 131	$ 208	$ 166

BORROWINGS - Note Payable and Subordinated Notes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term debt	$ 38,448,000	$ 43,368,000
Line of Credit
Debt Instrument [Line Items]
Long-term debt	12,498,000	7,975,000
Line of credit facility, maximum borrowing capacity	$ 25,000,000
Line of Credit \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	250.00%
Federal Home Loan Bank Advances
Debt Instrument [Line Items]
Long-term debt	$ 25,950,000	30,900,000
Federal Home Loan Bank Advances \| Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage	0.31%
Federal Home Loan Bank Advances \| Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage	0.57%
Subordinated Debt
Debt Instrument [Line Items]
Long-term debt	$ 0	$ 4,493,000
Interest rate, stated percentage	6.625%
Subordinated Debt \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	5.412%

BORROWINGS - Contractual Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2022	$ 32,448
2023	6,000
Total	$ 38,448	$ 43,368

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

BORROWINGS - Narrative (Details) - USD ($)			3 Months Ended	12 Months Ended
BORROWINGS - Narrative (Details) - USD ($)	Feb. 07, 2022	Jun. 23, 2016	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
FHLB advances			$ 25,950,000	$ 25,950,000	$ 30,900,000
Federal funds purchased				0	0
Federal funds, maximum borrowings				87,200,000
Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 25,000,000
Percent of capital stock used as collateral				100.00%
Line of Credit \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				250.00%
Federal Home Loan Bank Advances
Debt Instrument [Line Items]
FHLB advances				$ 25,950,000
FHLB, amount available				68,352,000
Federal Home Loan Bank Advances \| Commercial
Debt Instrument [Line Items]
Debt instrument, collateral amount				66,623,000
Federal Home Loan Bank Advances \| Residential
Debt Instrument [Line Items]
Debt instrument, collateral amount				22,673,000
Federal Home Loan Bank Advances \| Home Equity Line of Credit
Debt Instrument [Line Items]
Debt instrument, collateral amount				$ 5,006,000
Subordinated Debt
Debt Instrument [Line Items]
Interest rate, stated percentage				6.625%
Subordinated Debt \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				5.412%
Subordinated Debt \| Subordinated Notes due July 2026
Debt Instrument [Line Items]
Face amount	$ 48,000	$ 4,500,000
Interest rate, stated percentage	3.50%	6.625%
Debt issuance costs, gross		$ 79,000	79,000
Debt issuance costs, net	$ 875,000		$ 846,000	$ 0	$ 7,000
Amortization period		60 months	60 months
Subordinated Debt \| Subordinated Notes due July 2026 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	2.05%	5.412%	5.412%

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Fair Values of Derivative Instruments on the Balance Sheet (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Collateral already posted	$ 4,470	$ 350
Loss recognized in income from fair value adjustment	15	29
Loss recognized in income from fee income	0		$ 960
Interest Rate Products \| Not Designated as Hedging Instrument
Other Assets
Notional Amount	76,883	77,534	49,664
Fair Value	4,278	1,784	983
Other Liabilities
Notional Amount	76,883	77,534	49,664
Fair Value	$ (4,322)	$ (1,843)	$ (1,013)

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Credit-risk-related Contingent Features (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of derivatives in a net liability position	$ 4,240	$ 1,827
Termination value	4,240	1,827
Required collateral	$ 4,470	$ 350

EMPLOYEE AND DIRECTOR BENEFITS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2007
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company recognized cost	$ 245		$ 825	$ 739
Unrecognized compensation			537	587
Nonvested restricted stock awards	169,189		177,198	140,656	$ 126,637
Company recorded liability			3,578	2,990
Plan expense			589	487
Bank owned life insurance	29,343		22,201	22,458
Bank owned life insurance income	122	$ 125	497	528
Capital Surplus
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company recognized cost	103		362	349
Nonvested restricted stock awards	76,426		80,640	65,327	64,592
Unvested Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company recognized cost	142
Nonvested restricted stock awards	$ (835)		$ (477)	$ (439)
Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive stock option plan (in shares)			474,336,000	1,400,000,000		975,000,000	675,000,000	450,000,000
Weighted average period of years			1 year 7 months 28 days
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			24,985,000	22,869,000
Restricted Stock \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Restricted Stock \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			5 years
Restricted Stock \| Unvested Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company recognized cost			$ 463	$ 390
Nonvested restricted stock awards			$ (477)		$ (392)

EMPLOYEE AND DIRECTOR BENEFITS - Options (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Number
Options outstanding, beginning of year (in shares)	480,478	373,392
Granted (in shares)	33,294	113,086
Exercised (in shares)	(10,000)	(1,000)
Forfeited (in shares)	(2,280)	(5,000)
Options outstanding, end of year (in shares)	501,492	480,478
Exercisable, end of year (in shares)	327,526	216,677
Weighted-Average Exercise Price
Weighted average exercise price, beginning balance (in dollars per share)	$ 14.95	$ 13.55
Granted weighted average exercise price (in dollars per share)	20.03	19.49
Exercised weighted average exercise price per share (in dollars per share)	10.00	10.00
Forfeited weighted average exercise price per share (in dollars per share)	20.10	14.20
Weighted average exercise price, Ending balance (in dollars per share)	$ 15.37	$ 14.95
Weighted average remaining contractual life	6 years 5 months 15 days	7 years 3 months 3 days
Exercisable end of year weighted average exercise price (in dollars per share)	$ 13.79	$ 12.67

EMPLOYEE AND DIRECTOR BENEFITS - Exercisable Options (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) $ / shares shares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Shares (in shares) \| shares	327,526
Weighted Average Exercise Price (in dollars per share)	$ 13,790
Weighted Average Remaining Contractual Term	5 years 9 months
Aggregate Intrinsic Value \| $	$ 1,927
Exercise Price 1
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share)	$ 10.00
Shares (in shares) \| shares	115,000
Weighted Average Exercise Price (in dollars per share)	$ 10.00
Weighted Average Remaining Contractual Term	4 years 1 month 2 days
Aggregate Intrinsic Value \| $	$ 1,101
Exercise Price 2
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share)	$ 14.00
Shares (in shares) \| shares	24,000
Weighted Average Exercise Price (in dollars per share)	$ 14.00
Weighted Average Remaining Contractual Term	5 years 3 months 29 days
Aggregate Intrinsic Value \| $	$ 134
Exercise Price 3
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share)	$ 14.00
Shares (in shares) \| shares	7,200
Weighted Average Exercise Price (in dollars per share)	$ 14.00
Weighted Average Remaining Contractual Term	5 years 8 months 1 day
Aggregate Intrinsic Value \| $	$ 40
Exercise Price 4
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share)	$ 14.00
Shares (in shares) \| shares	4,000
Weighted Average Exercise Price (in dollars per share)	$ 14.00
Weighted Average Remaining Contractual Term	6 years
Aggregate Intrinsic Value \| $	$ 22
Exercise Price 5
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share)	$ 14.50
Shares (in shares) \| shares	73,000
Weighted Average Exercise Price (in dollars per share)	$ 14.50
Weighted Average Remaining Contractual Term	6 years 1 month 2 days
Aggregate Intrinsic Value \| $	$ 370
Exercise Price 6
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share)	$ 14.50
Shares (in shares) \| shares	9,000
Weighted Average Exercise Price (in dollars per share)	$ 14.50
Weighted Average Remaining Contractual Term	6 years 5 months 1 day
Aggregate Intrinsic Value \| $	$ 46
Exercise Price 7
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share)	$ 14.50
Shares (in shares) \| shares	4,800
Weighted Average Exercise Price (in dollars per share)	$ 14.50
Weighted Average Remaining Contractual Term	6 years 11 months 1 day
Aggregate Intrinsic Value \| $	$ 24
Exercise Price 8
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share)	$ 16.00
Shares (in shares) \| shares	50,261
Weighted Average Exercise Price (in dollars per share)	$ 16.00
Weighted Average Remaining Contractual Term	7 years 1 month 2 days
Aggregate Intrinsic Value \| $	$ 179
Exercise Price 9
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share)	$ 22.75
Shares (in shares) \| shares	6,000
Weighted Average Exercise Price (in dollars per share)	$ 22.75
Weighted Average Remaining Contractual Term	7 years 10 months 2 days
Aggregate Intrinsic Value \| $	$ 0
Exercise Price 10
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share)	$ 20.10
Shares (in shares) \| shares	20,512
Weighted Average Exercise Price (in dollars per share)	$ 20.10
Weighted Average Remaining Contractual Term	8 years 1 month 2 days
Aggregate Intrinsic Value \| $	$ 0
Exercise Price 11
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share)	$ 20.10
Shares (in shares) \| shares	9,753
Weighted Average Exercise Price (in dollars per share)	$ 20.10
Weighted Average Remaining Contractual Term	8 years 2 months 4 days
Aggregate Intrinsic Value \| $	$ 0
Exercise Price 12
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share)	$ 14.98
Shares (in shares) \| shares	2,000
Weighted Average Exercise Price (in dollars per share)	$ 14.98
Weighted Average Remaining Contractual Term	8 years 10 months 2 days
Aggregate Intrinsic Value \| $	$ 9
Exercise Price 13
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share)	$ 18.34
Shares (in shares) \| shares	2,000
Weighted Average Exercise Price (in dollars per share)	$ 18.34
Weighted Average Remaining Contractual Term	9 years 3 days
Aggregate Intrinsic Value \| $	$ 2

EMPLOYEE AND DIRECTOR BENEFITS - Weighted Average Assumptions (Details) - Share-based Payment Arrangement, Option - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	2.50%	2.50%
Weighted average volatility	65.43%	29.15%
Expected life in years	6 years 6 months	6 years 8 months 4 days
Risk-free interest rate	0.81%	1.56%
Weighted average grant date fair value (in dollars per share)	$ 9.77	$ 4.22

EMPLOYEE AND DIRECTOR BENEFITS - Restricted Stock (Details) - Restricted Stock - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Number
Non vested beginning of year (in shares)	39,169	34,389
Granted (in shares)	24,985	22,869
Forfeited (in shares)	0	(268)
Vested (in shares)	(24,840)	(17,821)
Non vested end of year (in shares)	39,314	39,169
Weighted-Average Exercise Price
Non vested beginning of year weighted average exercise price (in dollars per share)	$ 17,800	$ 16,060.00
Granted weighted average exercise price (in dollars per share)	20,030.00	19,350
Forfeited weighted average exercise price per share (in dollars per share)	0	20,100
Vested weighted average exercise price (in dollars per share)	17,360	16,390
Non vested end of year weighted average exercise price (in dollars per share)	$ 19,500	$ 17,800

INCOME TAXES - Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Current			$ 6,705	$ 4,113
Deferred			(973)	(1,587)
Income tax expense	$ 1,440	$ 1,817	$ 5,732	$ 2,526

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

INCOME TAXES - Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income tax expense at federal statutory rate			$ 5,102	$ 3,073
State income tax			879	465
Tax exempt income			(210)	(170)
Nondeductible merger (credit) expenses			134	(685)
Other			(173)	(157)
Income tax expense	$ 1,440	$ 1,817	$ 5,732	$ 2,526

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred income tax assets:
Loan loss reserves	$ 3,812	$ 2,982
Pre-opening and organization expenses	15	36
Deferred compensation	1,055	904
Intangible assets created from asset purchase	34	40
Loans purchased at a premium	68	142
Restricted stock	40	32
Deferred origination fees	795	642
Deferred tax assets, gross	5,819	4,778
Deferred income tax liabilities:
Loans purchased at a discount	136	163
Depreciation	325	208
Intangible assets created from stock purchase	393	461
Other	161	115
Unrealized gain on securities available for sale	743	1,122
Deferred tax liabilities, gross	1,758	2,069
Net deferred income tax asset	$ 4,061	$ 2,709

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Guarantor Obligations [Line Items]
Exposure to credit loss			$ 317,628	$ 184,739
Provision (credit) for loan losses	$ 700	$ 750	2,982	3,300
Commitments to extend credit
Guarantor Obligations [Line Items]
Exposure to credit loss			314,194	181,925
Standby letters of credit
Guarantor Obligations [Line Items]
Exposure to credit loss			$ 3,434	$ 2,814

CONCENTRATIONS OF CREDIT (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
CONCENTRATIONS OF CREDIT (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Concentration Risk [Line Items]
Commitments to expend in excess of capital, secured basis, percentage	20.00%	20.00%
Commitments to expend in excess of capital, secured basis	$ 41,298	$ 36,317
Commitments to expend in excess of capital, unsecured basis, percentage	10.00%	10.00%
Commitments to expend in excess of capital, unsecured basis	$ 20,649	$ 18,159
Real estate mortgages \| Financing Receivable \| Loan Portfolio Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	83.00%	83.00%

STOCKHOLDERS’ EQUITY (Details) - shares	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Common stock issued (in shares)	8,749,878	9,012,857	7,678,195
Common stock outstanding (in shares)	8,749,878	9,012,857	7,678,195
Nonvoting Common Stock
Class of Stock [Line Items]
Common stock issued (in shares)			805,715
Common stock outstanding (in shares)			805,715

REGULATORY MATTERS (Details) $ in Thousands	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Company
Tier 1 capital (to average assets)
Actual amount	$ 154,648	$ 156,723	$ 118,837
Actual ratio	0.0875	0.0974	0.0924
Required for capital adequacy purposes, amount	$ 70,717	$ 64,376	$ 51,426
Required for capital adequacy purposes, ratio	0.0400	0.0400	0.0400
CET 1 capital (to risk-weighted assets)
Actual amount	$ 154,648	$ 156,723	$ 118,837
Actual ratio	0.0990	0.1035	0.1063
Required for capital adequacy purposes, amount	$ 109,331	$ 106,019	$ 78,257
Required for capital adequacy purposes, ratio	0.0700	0.0700	0.0700
Total capital (to risk-weighted assets)
Actual amount	$ 154,648	$ 156,723	$ 118,837
Actual ratio	0.0990	0.1035	0.1063
Required for capital adequacy purposes, amount	$ 132,759	$ 128,737	$ 95,026
Required for capital adequacy purposes, ratio	0.0850	0.0850	0.0850
Total capital (to risk-weighted assets)
Actual amount	$ 218,140	$ 171,567	$ 135,196
Actual ratio	0.1397	0.1133	0.1209
Required for capital adequacy purposes, amount	$ 163,997	$ 159,028	$ 117,835
Required for capital adequacy purposes, ratio	0.1050	0.1050	0.1050
Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Retained earnings available for dividend declaration without regulatory approval	$ 38,082	$ 33,247
Tier 1 capital (to average assets)
Actual amount	$ 192,383	$ 168,027	$ 130,852
Actual ratio	0.1088	0.1044	0.1018
Required for capital adequacy purposes, amount	$ 70,717	$ 64,376	$ 51,426
Required for capital adequacy purposes, ratio	0.0400	0.0400	0.0400
Minimums to be “well capitalized” under prompt corrective action, amount	$ 88,396	$ 80,470	$ 77,139
Minimums to be “well capitalized” under prompt corrective action, ratio	0.0500	0.0500	0.0500
CET 1 capital (to risk-weighted assets)
Actual amount	$ 192,383	$ 168,027	$ 130,852
Actual ratio	0.1232	0.1109	0.1170
Required for capital adequacy purposes, amount	$ 109,331	$ 106,019	$ 78,257
Required for capital adequacy purposes, ratio	0.0700	0.0700	0.0700
Minimums to be “well capitalized” under prompt corrective action, amount	$ 101,522	$ 98,446	$ 72,667
Minimums to be “well capitalized” under prompt corrective action, ratio	0.0650	0.0650	0.0650
Total capital (to risk-weighted assets)
Actual amount	$ 192,383	$ 168,027	$ 130,852
Actual ratio	0.1232	0.1109	0.1170
Required for capital adequacy purposes, amount	$ 132,759	$ 128,737	$ 95,026
Required for capital adequacy purposes, ratio	0.0850	0.0850	0.0850
Minimums to be “well capitalized” under prompt corrective action, amount	$ 124,950	$ 121,164	$ 89,436
Minimums to be “well capitalized” under prompt corrective action, ratio	0.0800	0.0800	0.0800
Total capital (to risk-weighted assets)
Actual amount	$ 207,875	$ 182,871	$ 142,711
Actual ratio	0.1331	0.1207	0.1277
Required for capital adequacy purposes, amount	$ 163,997	$ 159,028	$ 117,835
Required for capital adequacy purposes, ratio	0.1050	0.1050	0.1050
Minimums to be “well capitalized” under prompt corrective action, amount	$ 156,187	$ 151,455	$ 117,795
Minimums to be “well capitalized” under prompt corrective action, ratio	0.1000	0.1000	0.1000

FAIR VALUE OF ASSETS AND LIABILITIES - Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 11,259	$ 10,648	$ 14,616
Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	8,329	7,718	4,392
Foreclosed assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	2,930	2,930	10,224
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0	0
Fair Value, Inputs, Level 1 \| Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0	0
Fair Value, Inputs, Level 1 \| Foreclosed assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0	0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0	0
Fair Value, Inputs, Level 2 \| Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0	0
Fair Value, Inputs, Level 2 \| Foreclosed assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0	0
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	11,259	10,648	14,616
Fair Value, Inputs, Level 3 \| Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	8,329	7,718	4,392
Fair Value, Inputs, Level 3 \| Foreclosed assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 2,930	$ 2,930	$ 10,224

FAIR VALUE OF ASSETS AND LIABILITIES - Quantitative Disclosures for Level 3 Fair Value Measurements (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Mar. 31, 2021 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Recorded Investment	$ 17,483	$ 16,347	$ 14,098	$ 17,817
Related Allowance	732	704	2,066
Provision for loan losses	111	40	1,828
Other equity securities, at fair value	8,937	9,232	5,017
Fair Value, Inputs, Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other equity securities, at fair value	4,083	4,247	0
Fair value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Recorded Investment	9,061	8,422	6,458
Cost
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Recorded Investment	8,422	7,925	7,640
Fair Value, Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value disclosure	11,259	10,648	14,616
Fair Value, Nonrecurring \| Fair Value, Inputs, Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value disclosure	11,259	10,648	14,616
Fair Value, Recurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other equity securities, at fair value	8,937	9,232	5,017
Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Other equity securities, at fair value	$ 4,083	$ 4,247	$ 0
Impaired loans \| Measurement Input, Discount Rate \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted Average of Input	0.15	0.15	0.15
Impaired loans \| Measurement Input, Discount Rate \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted Average of Input	0.20	0.20	0.20
Impaired loans \| Fair Value, Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value disclosure	$ 8,329	$ 7,718	$ 4,392
Impaired loans \| Fair Value, Nonrecurring \| Fair Value, Inputs, Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value disclosure	$ 8,329	$ 7,718	$ 4,392
Foreclosed assets \| Measurement Input, Discount Rate \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted Average of Input	0.10	0.10	0.10
Foreclosed assets \| Measurement Input, Discount Rate \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted Average of Input	0.15	0.15	0.15
Foreclosed assets \| Fair Value, Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value disclosure	$ 2,930	$ 2,930	$ 10,224
Foreclosed assets \| Fair Value, Nonrecurring \| Fair Value, Inputs, Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value disclosure	$ 2,930	$ 2,930	$ 10,224

FAIR VALUE OF ASSETS AND LIABILITIES - Level 3 Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Carrying value, beginning of period	$ 0	$ 0
Purchases	4,000	0
Net realized gains	247	0
Carrying value, end of period	$ 4,247	$ 0

FAIR VALUE OF ASSETS AND LIABILITIES - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financial assets:
Cash and cash equivalents	$ 208,824	$ 283,956	$ 84,907
Securities available for sale, at fair value	151,027	132,172	114,001
Other equity securities	8,937	9,232	5,017
Loans held for sale	2,509	2,400	5,696
Trading assets	4,278	1,784	983
Loans, net	1,294,578	1,235,456	1,018,256
Bank owned life insurance	29,343	22,201	22,458
Annuities	15,523	12,888	12,903
Accrued interest receivable	4,427	4,170	4,243
Restricted equity securities	2,825	2,600	3,224
Financial liabilities:
Deposits	1,541,839	1,556,451	1,139,661
Trading liabilities	4,322	1,843	1,013
FHLB advances	25,950	25,950	30,900
Other borrowings	0	12,498	7,975
Subordinated notes	47,154	0	4,493
Accrued interest payable	107	132	278
Fair Value, Inputs, Level 1
Financial assets:
Cash and cash equivalents	208,824	283,956	84,907
Securities available for sale, at fair value	0	0	0
Other equity securities	4,854	4,985	5,017
Loans held for sale	0	0	0
Trading assets	0	0	0
Loans, net	0	0	0
Bank owned life insurance	0	0	0
Annuities	0	0	0
Accrued interest receivable	0	0	0
Restricted equity securities	0	0	0
Financial liabilities:
Deposits	0	0	0
Trading liabilities	0	0	0
FHLB advances	0	0	0
Other borrowings	0	0	0
Subordinated notes	0	0	0
Accrued interest payable	0	0	0
Fair Value, Inputs, Level 2
Financial assets:
Cash and cash equivalents	0	0	0
Securities available for sale, at fair value	151,027	132,172	114,001
Other equity securities	0	0	0
Loans held for sale	2,509	2,400	5,696
Trading assets	4,278	1,784	983
Loans, net	1,277,836	1,237,491	1,030,104
Bank owned life insurance	29,343	22,201	22,458
Annuities	15,523	12,888	12,903
Accrued interest receivable	4,427	4,170	4,243
Restricted equity securities	0	0	0
Financial liabilities:
Deposits	1,469,334	1,507,190	1,140,979
Trading liabilities	4,322	1,843	1,013
FHLB advances	25,829	25,926	30,962
Other borrowings	0	12,498	7,975
Subordinated notes	47,154	0	4,493
Accrued interest payable	107	132	278
Fair Value, Inputs, Level 3
Financial assets:
Cash and cash equivalents	0	0	0
Securities available for sale, at fair value	0	0	0
Other equity securities	4,083	4,247	0
Loans held for sale	0	0	0
Trading assets	0	0	0
Loans, net	8,329	7,718	4,392
Bank owned life insurance	0	0	0
Annuities	0	0	0
Accrued interest receivable	0	0	0
Restricted equity securities	2,825	2,600	3,224
Financial liabilities:
Deposits	0	0	0
Trading liabilities	0	0	0
FHLB advances	0	0	0
Other borrowings	0	0	0
Subordinated notes	0	0	0
Accrued interest payable	$ 0	$ 0	$ 0

PARENT COMPANY FINANCIAL INFORMATION - Condensed Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets:
Other assets	$ 11,883	$ 9,509	$ 8,525
Total assets	1,798,834	1,782,592	1,332,506
Liabilities and stockholders’ equity:
Other borrowings	0	12,498	7,975
Subordinated debt	47,154	0	4,493
Accrued interest	107	132	278
Total liabilities	1,629,645	1,605,394	1,191,850
Stockholders’ equity	169,189	177,198	140,656	$ 126,637
Total liabilities and stockholders' equity	$ 1,798,834	1,782,592	1,332,506
Southern States Bancshares, Inc.
Assets:
Cash		399	161
Investment in subsidiary		188,503	152,671
Other assets		794	319
Total assets		189,696	153,151
Liabilities and stockholders’ equity:
Other borrowings		12,498	7,975
Subordinated debt		0	4,493
Accrued interest		0	27
Total liabilities		12,498	12,495
Stockholders’ equity		177,198	140,656
Total liabilities and stockholders' equity		$ 189,696	$ 153,151

PARENT COMPANY FINANCIAL INFORMATION - Condensed Statements of Income (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Income
Total interest income	$ 15,872	$ 13,677	$ 57,777	$ 50,285
Expense
Interest expense	1,218	1,393	4,864	8,708
Income tax benefits	(1,440)	(1,817)	(5,732)	(2,526)
Net income	$ 4,557	$ 5,681	18,567	12,107
Southern States Bancshares, Inc.
Income
Dividend income from subsidiary			2,826	1,842
Total interest income			2,826	1,842
Expense
Interest expense			412	675
Other			1,054	847
Operating expenses			1,466	1,522
Income before income tax benefits and equity in undistributed earnings of subsidiary			1,360	320
Income tax benefits			294	320
Income before equity in undistributed earnings of subsidiary			1,654	640
Equity in undistributed earnings of subsidiary			16,913	11,467
Net income			$ 18,567	$ 12,107

PARENT COMPANY FINANCIAL INFORMATION - Condensed Statements of Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
OPERATING ACTIVITIES
Net income	$ 4,557	$ 5,681	$ 18,567	$ 12,107
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	245	173	825	739
(Decrease) increase in accrued interest payable	(25)	(4)	(146)	(195)
Net other operating expenses	3,907	2,103	2,203	(950)
Net cash provided by operating activities	9,839	13,142	29,703	11,454
INVESTING ACTIVITIES
Net cash used in investing activities	(98,072)	(48,189)	(260,755)	(260,073)
FINANCING ACTIVITIES
Net proceeds of note payable	0	1,011
Repayment of subordinated notes			(4,500)	0
Issuance of common stock	0	165	165	86
Common stock dividends paid	(811)	(691)	(2,892)	(1,842)
Net cash provided by financing activities	13,101	120,868	430,101	218,291
Net increase (decrease) in cash and cash equivalents	(75,132)	85,821	199,049	(30,328)
Cash and cash equivalents at beginning of year	283,956	84,907	84,907	115,235
Cash and cash equivalents at end of year	208,824	170,728	283,956	84,907
Company
OPERATING ACTIVITIES
Net income			18,567	12,107
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiary			(16,913)	(11,467)
Stock-based compensation			825	739
(Decrease) increase in accrued interest payable			(27)	15
Net other operating expenses			(84)	(87)
Net cash provided by operating activities			2,368	1,307
INVESTING ACTIVITIES
Investment in equity securities			(360)	0
Net cash used in investing activities			(360)	0
FINANCING ACTIVITIES
Net proceeds of note payable			4,500	0
Repayment of subordinated notes			(4,500)	0
Issuance of common stock			21,123	86
Capital contribution to subsidiary			(20,000)	0
Common stock dividends paid			(2,892)	(1,842)
Net cash provided by financing activities			(1,769)	(1,756)
Net increase (decrease) in cash and cash equivalents			239	(449)
Cash and cash equivalents at beginning of year	$ 400	$ 161	161	610
Cash and cash equivalents at end of year			$ 400	$ 161

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Related Party Transactions [Abstract]
Related party	$ 8,678	$ 9,976

- Definition

Direct costs arising from transactions with related parties who are not affiliates or joint Ventures. These costs are categorized as cost of goods sold.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.2)
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(C))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

+ Details

RELATED PARTY TRANSACTIONS - Related Party Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Related Party Transactions [Roll Forward]
Balance, beginning of year	$ 8,041	$ 6,809
Advances	2,176	3,952
Repayments	(2,894)	(2,720)
Balance, end of year	$ 7,323	$ 8,041

- Definition

Receivables to be collected from (obligations owed to) related parties, net as of the balance sheet date where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(C))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

+ Details

SUBSEQUENT EVENTS (Details) - USD ($)	Feb. 07, 2022	Feb. 16, 2022	Dec. 31, 2021
Subordinated Debt
Subsequent Event [Line Items]
Interest rate, stated percentage			6.625%
Subsequent Event
Subsequent Event [Line Items]
Stock repurchase program, authorized amount		$ 10,000,000
Subsequent Event \| Subordinated Debt \| Subordinated Notes Due 2032
Subsequent Event [Line Items]
Face amount	$ 48,000,000
Interest rate, stated percentage	3.50%
Subsequent Event \| Subordinated Debt \| Subordinated Notes Due 2032 \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Subsequent Event [Line Items]
Basis spread on variable rate	2.05%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Reserve balances, Federal Reserve Bank	$ 0	$ 0	$ 0
Goodwill, impairment loss	$ 0	$ 0
Core Deposits
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, remaining amortization period	7 years	7 years
Impairment of intangible assets, finite-lived	$ 0	$ 0
Minimum \| Building
Finite-Lived Intangible Assets [Line Items]
Premises and equipment, estimated useful life	10 years	10 years
Minimum \| Furniture and equipment
Finite-Lived Intangible Assets [Line Items]
Premises and equipment, estimated useful life	3 years	3 years
Maximum \| Building
Finite-Lived Intangible Assets [Line Items]
Premises and equipment, estimated useful life	39 years	39 years
Maximum \| Furniture and equipment
Finite-Lived Intangible Assets [Line Items]
Premises and equipment, estimated useful life	7 years	7 years

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Basic Earnings Per Share:
Net income	$ 4,557	$ 5,681	$ 18,567	$ 12,107
Weighted average common shares outstanding (in shares)	8,935,384	7,681,578	8,198,188	7,673,085
Basic earnings per share (in dollars per share)	$ 0.51	$ 0.74	$ 2.26	$ 1.58
Diluted Earnings Per Share:
Net income allocated to common shareholders	$ 4,549	$ 5,674	$ 18,538	$ 12,095
Weighted average common shares outstanding (in shares)	8,935,384	7,681,578	8,198,188	7,673,085
Net dilutive effect of:
Assumed exercises of stock options (in shares)	129,980	113,281	118,348	92,778
Average shares and dilutive potential common shares (in shares)	9,065,364	7,794,859	8,316,536	7,765,863
Dilutive earnings per share (in dollars per share)	$ 0.50	$ 0.73	$ 2.23	$ 1.56

SECURITIES - Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 156,101	$ 129,317	$ 109,696
Gross Unrealized Gains	756	3,291	4,435
Gross Unrealized Losses	(5,830)	(436)	(130)
Securities available for sale, at fair value	151,027	132,172	114,001
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	19,667	19,672	0
Gross Unrealized Gains	0	364	0
Gross Unrealized Losses	(1,440)	(126)	0
Securities held to maturity, at amortized cost	18,227	19,910	0
Total securities
Amortized Cost	175,768	148,989	109,696
Gross Unrealized Gains	756	3,655	4,435
Gross Unrealized Losses	(7,270)	(562)	(130)
Fair Value	169,254	152,082	114,001
Debt securities restricted	45,534	46,263	40,983
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	9,797	7,820	0
Gross Unrealized Gains	0	22	0
Gross Unrealized Losses	(556)	(20)	0
Securities available for sale, at fair value	9,241	7,822	0
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost		0	0
Gross Unrealized Gains		0	0
Gross Unrealized Losses		0	0
Securities held to maturity, at amortized cost		0	0
U.S. Government Sponsored Enterprises (GSEs)
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	8,453	9,228	9,154
Gross Unrealized Gains	0	68	246
Gross Unrealized Losses	(414)	(103)	(34)
Securities available for sale, at fair value	8,039	9,193	9,366
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost		0	0
Gross Unrealized Gains		0	0
Gross Unrealized Losses		0	0
Securities held to maturity, at amortized cost		0	0
State and municipal securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	56,963	54,236	64,468
Gross Unrealized Gains	607	2,611	3,531
Gross Unrealized Losses	(2,924)	(66)	(58)
Securities available for sale, at fair value	54,646	56,781	67,941
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	19,667	19,672	0
Gross Unrealized Gains	0	364	0
Gross Unrealized Losses	(1,440)	(126)	0
Securities held to maturity, at amortized cost	18,227	19,910	0
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	10,528	10,530	8,286
Gross Unrealized Gains	129	289	188
Gross Unrealized Losses	(216)	(35)	(5)
Securities available for sale, at fair value	10,441	10,784	8,469
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost		0	0
Gross Unrealized Gains		0	0
Gross Unrealized Losses		0	0
Securities held to maturity, at amortized cost		0	0
Asset based securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	10,096	10,380	9,035
Gross Unrealized Gains	14	116	76
Gross Unrealized Losses	(105)	(24)	0
Securities available for sale, at fair value	10,005	10,472	9,111
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost		0	0
Gross Unrealized Gains		0	0
Gross Unrealized Losses		0	0
Securities held to maturity, at amortized cost		0	0
Mortgage-backed GSE residential/multifamily and non-GSE
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	60,264	37,123	18,753
Gross Unrealized Gains	6	185	394
Gross Unrealized Losses	(1,615)	(188)	(33)
Securities available for sale, at fair value	$ 58,655	37,120	19,114
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost		0	0
Gross Unrealized Gains		0	0
Gross Unrealized Losses		0	0
Securities held to maturity, at amortized cost		$ 0	$ 0

SECURITIES - Amortized Cost and Fair Value by Contractual Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Amortized Cost
Due in less than one year	$ 301	$ 302	$ 0
Due from one year to five years	6,997	2,766	1,200
Due after five to ten years	23,679	26,475	15,518
Due after ten years	64,860	62,651	74,225
Mortgage-backed securities	60,264	37,123	18,753
Amortized Cost	156,101	129,317	109,696
Fair Value
Due in less than one year	301	302	0
Due from one year to five years	6,881	2,790	1,241
Due after five to ten years	22,684	26,764	15,873
Due after ten years	62,506	65,196	77,773
Mortgage-backed securities	58,655	37,120	19,114
Total securities available for sale	151,027	132,172	114,001
Amortized Cost
Due in less than one year	0	0	0
Due from one year to five years	0	0	0
Due after five to ten years	1,772	1,100	0
Due after ten years	17,895	18,572	0
Mortgage-backed securities	0	0	0
Amortized Cost	19,667	19,672	0
Securities Held to Maturity
Due in less than one year	0	0	0
Due from one year to five years	0	0	0
Due after five to ten years	1,689	1,115	0
Due after ten years	16,538	18,795	0
Mortgage-backed securities	0	0	0
Securities held to maturity, at amortized cost	18,227	19,910	0
Total securities
Amortized Cost	175,768	148,989	109,696
Fair Value	$ 169,254	$ 152,082	$ 114,001

SECURITIES - Restricted Equity Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt and Equity Securities, FV-NI [Line Items]
Restricted equity securities, at cost	$ 2,825	$ 2,600	$ 3,224
Federal Home Loan Bank stock
Debt and Equity Securities, FV-NI [Line Items]
Restricted equity securities, at cost	1,900	1,675	2,299
First National Banker’s Bankshares, Inc. stock
Debt and Equity Securities, FV-NI [Line Items]
Restricted equity securities, at cost	675	675	675
Pacific Coast Banker’s Bank stock
Debt and Equity Securities, FV-NI [Line Items]
Restricted equity securities, at cost	$ 250	$ 250	$ 250

SECURITIES - Continuous Unrealized Loss Position (Details) $ in Thousands	Mar. 31, 2022 USD ($) security	Dec. 31, 2021 USD ($) security	Dec. 31, 2020 USD ($)
Gross Unrealized Losses
Less Than Twelve Months	$ (5,495)	$ (357)	$ (130)
Over Twelve Months	(335)	(79)	0
Total Unrealized Losses	(5,830)	(436)	(130)
Fair Value
Less Than Twelve Months	108,272	35,626	16,128
Over Twelve Months	6,440	5,527	0
Gross Unrealized Losses
Less Than Twelve Months	(1,377)	(126)	0
Over Twelve Months	(63)	0	0
Total Unrealized Losses	(1,440)	(126)	0
Fair Value
Less Than Twelve Months	17,786	6,450	0
Over Twelve Months	441	0	0
Gross Unrealized Losses
Less Than Twelve Months	(6,872)	(483)	(130)
Over Twelve Months	(398)	(79)	0
Total Unrealized Losses	(7,270)	(562)	(130)
Fair Value
Less Than Twelve Months	126,058	42,076	16,128
Over Twelve Months	$ 6,881	$ 5,527	0
Number of securities in loss position \| security	172	55
U.S. Treasury securities
Gross Unrealized Losses
Less Than Twelve Months	$ (556)	$ (20)	0
Over Twelve Months	0	0	0
Total Unrealized Losses	(556)	(20)	0
Fair Value
Less Than Twelve Months	9,241	5,347	0
Over Twelve Months	0	0	0
Gross Unrealized Losses
Less Than Twelve Months		0	0
Over Twelve Months		0	0
Total Unrealized Losses		0	0
Fair Value
Less Than Twelve Months		0	0
Over Twelve Months		0	0
U.S. Government Sponsored Enterprises (GSEs)
Gross Unrealized Losses
Less Than Twelve Months	(215)	(57)	(34)
Over Twelve Months	(199)	(46)	0
Total Unrealized Losses	(414)	(103)	(34)
Fair Value
Less Than Twelve Months	5,596	1,946	2,051
Over Twelve Months	2,443	1,899	0
Gross Unrealized Losses
Less Than Twelve Months		0	0
Over Twelve Months		0	0
Total Unrealized Losses		0	0
Fair Value
Less Than Twelve Months		0	0
Over Twelve Months		0	0
State and municipal securities
Gross Unrealized Losses
Less Than Twelve Months	(2,924)	(66)	(58)
Over Twelve Months	0	0	0
Total Unrealized Losses	(2,924)	(66)	(58)
Fair Value
Less Than Twelve Months	39,112	6,270	4,979
Over Twelve Months	0	0	0
Gross Unrealized Losses
Less Than Twelve Months	(1,377)	(126)	0
Over Twelve Months	(63)	0	0
Total Unrealized Losses	(1,440)	(126)	0
Fair Value
Less Than Twelve Months	17,786	6,450	0
Over Twelve Months	441	0	0
Corporate debt securities
Gross Unrealized Losses
Less Than Twelve Months	(177)	(35)	(5)
Over Twelve Months	(39)	0	0
Total Unrealized Losses	(216)	(35)	(5)
Fair Value
Less Than Twelve Months	5,351	2,995	1,495
Over Twelve Months	711	0	0
Gross Unrealized Losses
Less Than Twelve Months		0	0
Over Twelve Months		0	0
Total Unrealized Losses		0	0
Fair Value
Less Than Twelve Months		0	0
Over Twelve Months		0	0
Asset based securities
Gross Unrealized Losses
Less Than Twelve Months	(101)	(21)	0
Over Twelve Months	(4)	(3)	0
Total Unrealized Losses	(105)	(24)	0
Fair Value
Less Than Twelve Months	7,473	2,842	960
Over Twelve Months	844	879	0
Gross Unrealized Losses
Less Than Twelve Months		0	0
Over Twelve Months		0	0
Total Unrealized Losses		0	0
Fair Value
Less Than Twelve Months		0	0
Over Twelve Months		0	0
Mortgage-backed GSE residential/multifamily and non-GSE
Gross Unrealized Losses
Less Than Twelve Months	(1,522)	(158)	(33)
Over Twelve Months	(93)	(30)	0
Total Unrealized Losses	(1,615)	(188)	(33)
Fair Value
Less Than Twelve Months	41,499	16,226	6,643
Over Twelve Months	$ 2,442	2,749	0
Gross Unrealized Losses
Less Than Twelve Months		0	0
Over Twelve Months		0	0
Total Unrealized Losses		0	0
Fair Value
Less Than Twelve Months		0	0
Over Twelve Months		$ 0	$ 0

SECURITIES - Other-Than-Temporary Impairment (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Securities considered other than temporary impairment	$ 0	$ 0	$ 0

LOANS - Composition of Loans (Details) $ in Thousands	3 Months Ended	12 Months Ended
LOANS - Composition of Loans (Details) $ in Thousands	Mar. 31, 2022 USD ($) segment loan	Dec. 31, 2021 USD ($) segment loan	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 1,314,066	$ 1,254,117	$ 1,087,461	$ 1,033,733
% of Total	100.00%	100.00%		100.00%
Deferred loan fees	$ (3,996)	$ (3,817)		$ (3,618)
Allowance for loan losses	(15,492)	(14,844)	(12,605)	(11,859)	$ (9,265)
Loans, net	$ 1,294,578	$ 1,235,456		1,018,256
Number of loan portfolio segments \| segment	3	3
Loans, net of unearned income	$ 1,310,070	$ 1,250,300		1,030,115
Real estate mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	1,085,228	1,038,511	848,104	769,694
Allowance for loan losses	(10,206)	(11,554)	(9,274)	(8,057)	(7,254)
Real estate mortgages \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 165,400	$ 174,480		$ 102,559
% of Total	12.60%	13.90%		9.90%
Real estate mortgages \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 154,143	$ 147,490		$ 152,212
% of Total	11.70%	11.80%		14.70%
Real estate mortgages \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 765,685	$ 716,541		$ 514,923
% of Total	58.30%	57.10%		49.80%
Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 219,761	$ 206,897	230,157	$ 254,395
% of Total	16.70%	16.50%		24.60%
Allowance for loan losses	$ (5,175)	$ (3,166)	(3,192)	$ (3,609)	(1,885)
Commercial and industrial \| Paycheck Protection Plan
Financing Receivable, Credit Quality Indicator [Line Items]
Number of loans outstanding \| loan	6	36
Loans, net of unearned income	$ 893	$ 9,203
Deferred loan fees	0	298
Adjustment to loan yield	298	2,677
Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 9,077	$ 8,709	9,200	$ 9,644
% of Total	0.70%	0.70%		1.00%
Allowance for loan losses	$ (111)	$ (124)	$ (139)	$ (193)	$ (126)

LOANS - Credit Quality Indicators (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	$ 1,314,066	$ 1,254,117	$ 1,087,461	$ 1,033,733
Real estate mortgages
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	1,085,228	1,038,511	848,104	769,694
Real estate mortgages \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	165,400	174,480		102,559
Real estate mortgages \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	154,143	147,490		152,212
Real estate mortgages \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	765,685	716,541		514,923
Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	219,761	206,897	230,157	254,395
Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	9,077	8,709	$ 9,200	9,644
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	1,274,599	1,215,708		959,857
Pass \| Real estate mortgages \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	160,243	168,751		95,214
Pass \| Real estate mortgages \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	149,011	142,782		144,256
Pass \| Real estate mortgages \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	739,916	691,863		471,555
Pass \| Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	216,375	203,630		240,646
Pass \| Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	9,054	8,682		8,186
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	23,182	23,294		63,685
Special Mention \| Real estate mortgages \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	388	388		6,113
Special Mention \| Real estate mortgages \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	3,841	3,554		6,245
Special Mention \| Real estate mortgages \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	15,830	16,371		36,754
Special Mention \| Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	3,103	2,960		13,138
Special Mention \| Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	20	21		1,435
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	16,061	14,881		10,107
Substandard \| Real estate mortgages \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	4,769	5,341		1,232
Substandard \| Real estate mortgages \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	1,291	1,154		1,627
Substandard \| Real estate mortgages \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	9,939	8,307		6,614
Substandard \| Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	59	73		611
Substandard \| Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	3	6		23
Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	224	234		84
Doubtful \| Real estate mortgages \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	0	0		0
Doubtful \| Real estate mortgages \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	0	0		84
Doubtful \| Real estate mortgages \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	0	0		0
Doubtful \| Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	224	234		0
Doubtful \| Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Gross loans	$ 0	$ 0		$ 0

LOANS - Aging of Recorded Investment (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	$ 1,314,066	$ 1,254,117	$ 1,087,461	$ 1,033,733
Nonaccrual	3,246	1,478		3,418
Real estate mortgages
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,085,228	1,038,511	848,104	769,694
Real estate mortgages \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	165,400	174,480		102,559
Nonaccrual	76	346		977
Real estate mortgages \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	154,143	147,490		152,212
Nonaccrual	510	167		857
Real estate mortgages \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	765,685	716,541		514,923
Nonaccrual	2,388	674		1,478
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	219,761	206,897	230,157	254,395
Nonaccrual	269	285		84
Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	9,077	8,709	$ 9,200	9,644
Nonaccrual	3	6		22
Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,309,123	1,248,690		1,026,474
Current \| Real estate mortgages \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	164,583	173,027		101,375
Current \| Real estate mortgages \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	153,432	146,871		150,837
Current \| Real estate mortgages \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	762,558	714,092		512,208
Current \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	219,476	206,027		252,473
Current \| Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	9,074	8,673		9,581
Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,697	3,949		3,841
Total Past Due \| Real estate mortgages \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	741	1,107		207
Total Past Due \| Real estate mortgages \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	201	452		518
Total Past Due \| Real estate mortgages \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	739	1,775		1,237
Total Past Due \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	16	585		1,838
Total Past Due \| Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	30		41
30-59 Days
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,603	2,095		2,339
30-59 Days \| Real estate mortgages \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	647	62		117
30-59 Days \| Real estate mortgages \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	201	129		382
30-59 Days \| Real estate mortgages \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	739	1,775		1,196
30-59 Days \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	16	99		626
30-59 Days \| Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	30		18
60-89 Days
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	94	1,360		1,411
60-89 Days \| Real estate mortgages \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	94	746		90
60-89 Days \| Real estate mortgages \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	128		94
60-89 Days \| Real estate mortgages \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0		0
60-89 Days \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	486		1,212
60-89 Days \| Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0		15
90+ Days
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	494		91
90+ Days \| Real estate mortgages \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	299		0
90+ Days \| Real estate mortgages \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	195		42
90+ Days \| Real estate mortgages \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0		41
90+ Days \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0		0
90+ Days \| Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	$ 0	$ 0		$ 8

LOANS - Allowance for Loans Losses (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Allowance for loan losses:
Beginning balance	$ 14,844	$ 11,859	$ 11,859	$ 9,265
Provision (credit) for loan losses	700	750	2,982	3,300
Loans charged off	(72)	(18)	(46)	(926)
Recoveries of loans previously charged off	20	14	49	220
Ending balance	15,492	12,605	14,844	11,859
Ending balance - individually evaluated for impairment	669	759	635	1,837
Ending balance - collectively evaluated for impairment	14,760	11,752	14,140	9,793
Loans:
Ending balance - individually evaluated for impairment	16,248	16,454	15,075	12,420
Ending balance - collectively evaluated for impairment	1,296,583	1,069,644	1,237,770	1,019,635
Gross loans	1,314,066	1,087,461	1,254,117	1,033,733
Loans acquired with credit deterioration
Allowance for loan losses:
Beginning balance	69	229	229
Ending balance	63	94	69	229
Loans:
Gross loans	1,235	1,363	1,272	1,678
Real estate mortgages
Allowance for loan losses:
Beginning balance	11,554	8,057	8,057	7,254
Provision (credit) for loan losses	(1,299)	1,231	3,516	1,702
Loans charged off	(66)	(16)	(44)	(908)
Recoveries of loans previously charged off	17	2	25	9
Ending balance	10,206	9,274	11,554	8,057
Ending balance - individually evaluated for impairment	400	357	340	1,352
Ending balance - collectively evaluated for impairment	9,743	8,823	11,145	6,476
Loans:
Ending balance - individually evaluated for impairment	15,943	15,829	14,742	11,527
Ending balance - collectively evaluated for impairment	1,068,050	830,912	1,022,497	756,489
Gross loans	1,085,228	848,104	1,038,511	769,694
Real estate mortgages \| Loans acquired with credit deterioration
Allowance for loan losses:
Beginning balance	69	229	229
Ending balance	63	94	69	229
Loans:
Gross loans	1,235	1,363	1,272	1,678
Commercial and industrial
Allowance for loan losses:
Beginning balance	3,166	3,609	3,609	1,885
Provision (credit) for loan losses	2,009	(428)	(458)	1,598
Loans charged off	0	0	0	0
Recoveries of loans previously charged off	0	11	15	126
Ending balance	5,175	3,192	3,166	3,609
Ending balance - individually evaluated for impairment	269	390	292	478
Ending balance - collectively evaluated for impairment	4,906	2,802	2,874	3,131
Loans:
Ending balance - individually evaluated for impairment	283	583	307	856
Ending balance - collectively evaluated for impairment	219,478	229,574	206,590	253,539
Gross loans	219,761	230,157	206,897	254,395
Commercial and industrial \| Loans acquired with credit deterioration
Allowance for loan losses:
Beginning balance	0	0	0
Ending balance	0	0	0	0
Loans:
Gross loans	0	0	0	0
Consumer and other
Allowance for loan losses:
Beginning balance	124	193	193	126
Provision (credit) for loan losses	(10)	(53)	(76)	0
Loans charged off	(6)	(2)	(2)	(18)
Recoveries of loans previously charged off	3	1	9	85
Ending balance	111	139	124	193
Ending balance - individually evaluated for impairment	0	12	3	7
Ending balance - collectively evaluated for impairment	111	127	121	186
Loans:
Ending balance - individually evaluated for impairment	22	42	26	37
Ending balance - collectively evaluated for impairment	9,055	9,158	8,683	9,607
Gross loans	9,077	9,200	8,709	9,644
Consumer and other \| Loans acquired with credit deterioration
Allowance for loan losses:
Beginning balance	0	0	0
Ending balance	0	0	0	0
Loans:
Gross loans	$ 0	$ 0	$ 0	$ 0

LOANS - Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
LOANS - Impaired Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
With no related allowance recorded:
Recorded Investment	$ 14,214	$ 14,540	$ 14,368	$ 7,718
Unpaid Principal Balance	14,214		14,368	7,718
Average Recorded Investment	14,260	14,542	14,385	8,179
Interest Income Recognized	191	165
With an allowance recorded:
Recorded Investment	3,269	3,277	1,979	6,380
Unpaid Principal Balance	3,340		2,050	6,451
Related Allowance	732		704	2,066
Average Recorded Investment	3,282	3,302	1,988	6,731
Interest Income Recognized	22	47
Total impaired loans:
Recorded Investment	17,483	17,817	16,347	14,098
Unpaid Principal Balance	17,554		16,418	14,169
Average Recorded Investment	17,542	17,844	16,373	14,910
Interest Income Recognized	213	212
Real estate mortgages \| Construction and development
With no related allowance recorded:
Recorded Investment	4,810	5,511	5,258	977
Unpaid Principal Balance	4,810		5,258	977
Average Recorded Investment	4,813	5,511	5,261	970
Interest Income Recognized	55	41
With an allowance recorded:
Recorded Investment	234	567	370	644
Unpaid Principal Balance	234		370	644
Related Allowance	62		148	106
Average Recorded Investment	236	573	370	668
Interest Income Recognized	3	9
Real estate mortgages \| Residential
With no related allowance recorded:
Recorded Investment	1,477	2,396	1,081	1,537
Unpaid Principal Balance	1,477		1,081	1,537
Average Recorded Investment	1,485	2,405	1,090	1,669
Interest Income Recognized	21	23
With an allowance recorded:
Recorded Investment	362	800	633	1,557
Unpaid Principal Balance	433		704	1,628
Related Allowance	97		125	628
Average Recorded Investment	364	804	636	1,636
Interest Income Recognized	4	11
Real estate mortgages \| Commercial
With no related allowance recorded:
Recorded Investment	7,891	6,411	7,992	5,117
Unpaid Principal Balance	7,891		7,992	5,117
Average Recorded Investment	7,922	6,395	7,993	5,425
Interest Income Recognized	115	98
With an allowance recorded:
Recorded Investment	2,404	1,507	680	3,373
Unpaid Principal Balance	2,404		680	3,373
Related Allowance	304		136	847
Average Recorded Investment	2,406	1,517	682	3,526
Interest Income Recognized	9	22
Commercial and industrial
With no related allowance recorded:
Recorded Investment	14	200	22	65
Unpaid Principal Balance	14		22	65
Average Recorded Investment	17	208	25	91
Interest Income Recognized	0	3
With an allowance recorded:
Recorded Investment	269	383	285	791
Unpaid Principal Balance	269		285	791
Related Allowance	269		292	478
Average Recorded Investment	276	387	289	886
Interest Income Recognized	6	5
Consumer and other
With no related allowance recorded:
Recorded Investment	22	22	15	22
Unpaid Principal Balance	22		15	22
Average Recorded Investment	23	23	16	24
Interest Income Recognized	0	0
With an allowance recorded:
Recorded Investment	0	20	11	15
Unpaid Principal Balance	0		11	15
Related Allowance	0		3	7
Average Recorded Investment	0	21	$ 11	$ 15
Interest Income Recognized	$ 0	$ 0

DEPOSITS (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Banking and Thrift, Interest [Abstract]
Noninterest-bearing transaction	$ 515,110	$ 541,546	$ 290,867
Interest-bearing transaction	749,119	704,326	475,757
Savings	62,462	56,715	42,731
Time deposits, $250,000 and under	189,172	224,556	293,707
Time deposits, over $250,000	25,976	29,308	36,599
Total deposits	$ 1,541,839	$ 1,556,451	$ 1,139,661

DEPOSITS - Schedule Maturities of Time Deposits (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Banking and Thrift, Interest [Abstract]
April 1, 2022 to March 31, 2023	$ 181,564
April 1, 2023 to March 31, 2024	12,514
April 1, 2024 to March 31, 2025	15,828
April 1, 2025 to March 31, 2026	3,597
April 1, 2026 to March 31, 2027	1,459
Thereafter	186
Time deposits	$ 215,148	$ 253,864

DEPOSITS - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Banking and Thrift, Interest [Abstract]
Brokered deposits	$ 34,110	$ 34,110	$ 34,151
Overdrawn deposits reclassified as loans	$ 131	$ 208	$ 166

SUBORDINATED NOTES (Details) - Subordinated Debt - USD ($)			3 Months Ended	12 Months Ended
	Feb. 07, 2022	Jun. 23, 2016	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Interest rate, stated percentage				6.625%
London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				5.412%
Subordinated Notes due July 2026
Debt Instrument [Line Items]
Face amount	$ 48,000	$ 4,500,000
Interest rate, stated percentage	3.50%	6.625%
Debt issuance costs, gross		$ 79,000	$ 79,000
Debt issuance costs, net	$ 875,000		$ 846,000	$ 0	$ 7,000
Amortization period		60 months	60 months
Subordinated Notes due July 2026 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate	2.05%	5.412%	5.412%

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Fair Values of Derivative Instruments on the Balance Sheet (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Collateral already posted	$ 4,470	$ 350
Loss recognized in income from fair value adjustment	15	29
Loss recognized in income from fee income	0		$ 960
Interest Rate Products \| Not Designated as Hedging Instrument
Other Assets
Notional Amount	76,883	77,534	49,664
Fair Value	4,278	1,784	983
Other Liabilities
Notional Amount	76,883	77,534	49,664
Fair Value	$ (4,322)	$ (1,843)	$ (1,013)

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Credit-risk-related Contingent Features (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair value of derivatives in a net liability position	$ 4,240	$ 1,827
Termination value	4,240	1,827
Required collateral	$ 4,470	$ 350

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Guarantor Obligations [Line Items]
Exposure to credit loss	$ 317,583	$ 317,628
Commitments to extend credit
Guarantor Obligations [Line Items]
Exposure to credit loss	313,155	314,194
Standby letters of credit
Guarantor Obligations [Line Items]
Exposure to credit loss	$ 4,428	$ 3,434

CONCENTRATIONS OF CREDIT (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
CONCENTRATIONS OF CREDIT (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Concentration Risk [Line Items]
Commitments to expend in excess of capital, secured basis, percentage	20.00%	20.00%
Commitments to expend in excess of capital, secured basis	$ 41,298	$ 36,317
Commitments to expend in excess of capital, unsecured basis, percentage	10.00%	10.00%
Commitments to expend in excess of capital, unsecured basis	$ 20,649	$ 18,159
Real estate mortgages \| Financing Receivable \| Loan Portfolio Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	83.00%	83.00%

STOCKHOLDERS’ EQUITY (Details) - shares	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Common stock issued (in shares)	8,749,878	9,012,857	7,678,195
Common stock outstanding (in shares)	8,749,878	9,012,857	7,678,195

REGULATORY MATTERS (Details) $ in Thousands	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Company
Tier 1 capital (to average assets)
Actual amount	$ 154,648	$ 156,723	$ 118,837
Actual ratio	0.0875	0.0974	0.0924
Required for capital adequacy purposes, amount	$ 70,717	$ 64,376	$ 51,426
Required for capital adequacy purposes, ratio	0.0400	0.0400	0.0400
CET 1 capital (to risk-weighted assets)
Actual amount	$ 154,648	$ 156,723	$ 118,837
Actual ratio	0.0990	0.1035	0.1063
Required for capital adequacy purposes, amount	$ 109,331	$ 106,019	$ 78,257
Required for capital adequacy purposes, ratio	0.0700	0.0700	0.0700
Total capital (to risk-weighted assets)
Actual amount	$ 154,648	$ 156,723	$ 118,837
Actual ratio	0.0990	0.1035	0.1063
Required for capital adequacy purposes, amount	$ 132,759	$ 128,737	$ 95,026
Required for capital adequacy purposes, ratio	0.0850	0.0850	0.0850
Total capital (to risk-weighted assets)
Actual amount	$ 218,140	$ 171,567	$ 135,196
Actual ratio	0.1397	0.1133	0.1209
Required for capital adequacy purposes, amount	$ 163,997	$ 159,028	$ 117,835
Required for capital adequacy purposes, ratio	0.1050	0.1050	0.1050
Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Retained earnings available for dividend declaration without regulatory approval	$ 38,082	$ 33,247
Tier 1 capital (to average assets)
Actual amount	$ 192,383	$ 168,027	$ 130,852
Actual ratio	0.1088	0.1044	0.1018
Required for capital adequacy purposes, amount	$ 70,717	$ 64,376	$ 51,426
Required for capital adequacy purposes, ratio	0.0400	0.0400	0.0400
Minimums to be “well capitalized” under prompt corrective action, amount	$ 88,396	$ 80,470	$ 77,139
Minimums to be “well capitalized” under prompt corrective action, ratio	0.0500	0.0500	0.0500
CET 1 capital (to risk-weighted assets)
Actual amount	$ 192,383	$ 168,027	$ 130,852
Actual ratio	0.1232	0.1109	0.1170
Required for capital adequacy purposes, amount	$ 109,331	$ 106,019	$ 78,257
Required for capital adequacy purposes, ratio	0.0700	0.0700	0.0700
Minimums to be “well capitalized” under prompt corrective action, amount	$ 101,522	$ 98,446	$ 72,667
Minimums to be “well capitalized” under prompt corrective action, ratio	0.0650	0.0650	0.0650
Total capital (to risk-weighted assets)
Actual amount	$ 192,383	$ 168,027	$ 130,852
Actual ratio	0.1232	0.1109	0.1170
Required for capital adequacy purposes, amount	$ 132,759	$ 128,737	$ 95,026
Required for capital adequacy purposes, ratio	0.0850	0.0850	0.0850
Minimums to be “well capitalized” under prompt corrective action, amount	$ 124,950	$ 121,164	$ 89,436
Minimums to be “well capitalized” under prompt corrective action, ratio	0.0800	0.0800	0.0800
Total capital (to risk-weighted assets)
Actual amount	$ 207,875	$ 182,871	$ 142,711
Actual ratio	0.1331	0.1207	0.1277
Required for capital adequacy purposes, amount	$ 163,997	$ 159,028	$ 117,835
Required for capital adequacy purposes, ratio	0.1050	0.1050	0.1050
Minimums to be “well capitalized” under prompt corrective action, amount	$ 156,187	$ 151,455	$ 117,795
Minimums to be “well capitalized” under prompt corrective action, ratio	0.1000	0.1000	0.1000

FAIR VALUE OF ASSETS AND LIABILITIES - Assets Measured at Fair Value on a Nonrecurring Basis (Details) - Fair Value, Nonrecurring - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 11,259	$ 10,648	$ 14,616
Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	8,329	7,718	4,392
Foreclosed assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	2,930	2,930	10,224
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0	0
Fair Value, Inputs, Level 1 \| Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0	0
Fair Value, Inputs, Level 1 \| Foreclosed assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0	0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0	0
Fair Value, Inputs, Level 2 \| Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0	0
Fair Value, Inputs, Level 2 \| Foreclosed assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	0	0	0
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	11,259	10,648	14,616
Fair Value, Inputs, Level 3 \| Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	8,329	7,718	4,392
Fair Value, Inputs, Level 3 \| Foreclosed assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, fair value disclosure	$ 2,930	$ 2,930	$ 10,224

FAIR VALUE OF ASSETS AND LIABILITIES - Quantitative Disclosures for Level 3 Fair Value Measurements (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Mar. 31, 2021 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Related Allowance	$ 732	$ 704	$ 2,066
Recorded Investment	17,483	16,347	14,098	$ 17,817
Provision for loan losses	111	40	1,828
Fair value
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Recorded Investment	9,061	8,422	6,458
Cost
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Recorded Investment	8,422	7,925	7,640
Fair Value, Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value disclosure	$ 11,259	$ 10,648	$ 14,616
Impaired loans \| Measurement Input, Discount Rate \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted Average of Input	0.15	0.15	0.15
Impaired loans \| Measurement Input, Discount Rate \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted Average of Input	0.20	0.20	0.20
Impaired loans \| Fair Value, Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value disclosure	$ 8,329	$ 7,718	$ 4,392
Foreclosed assets \| Measurement Input, Discount Rate \| Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted Average of Input	0.10	0.10	0.10
Foreclosed assets \| Measurement Input, Discount Rate \| Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Weighted Average of Input	0.15	0.15	0.15
Foreclosed assets \| Fair Value, Nonrecurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assets, fair value disclosure	$ 2,930	$ 2,930	$ 10,224

FAIR VALUE OF ASSETS AND LIABILITIES - Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Financial assets:
Cash and cash equivalents	$ 208,824	$ 283,956	$ 84,907
Securities available for sale, at fair value	151,027	132,172	114,001
Other equity securities	8,937	9,232	5,017
Loans held for sale	2,509	2,400	5,696
Trading assets	4,278	1,784	983
Loans, net	1,294,578	1,235,456	1,018,256
Bank owned life insurance	29,343	22,201	22,458
Annuities	15,523	12,888	12,903
Accrued interest receivable	4,427	4,170	4,243
Restricted equity securities	2,825	2,600	3,224
Financial liabilities:
Deposits	1,541,839	1,556,451	1,139,661
Trading liabilities	4,322	1,843	1,013
FHLB advances	25,950	25,950	30,900
Other borrowings	0	12,498	7,975
Subordinated notes	47,154	0	4,493
Accrued interest payable	107	132	278
Fair Value, Inputs, Level 1
Financial assets:
Cash and cash equivalents	208,824	283,956	84,907
Securities available for sale, at fair value	0	0	0
Other equity securities	4,854	4,985	5,017
Loans held for sale	0	0	0
Trading assets	0	0	0
Loans, net	0	0	0
Bank owned life insurance	0	0	0
Annuities	0	0	0
Accrued interest receivable	0	0	0
Restricted equity securities	0	0	0
Financial liabilities:
Deposits	0	0	0
Trading liabilities	0	0	0
FHLB advances	0	0	0
Other borrowings	0	0	0
Subordinated notes	0	0	0
Accrued interest payable	0	0	0
Fair Value, Inputs, Level 2
Financial assets:
Cash and cash equivalents	0	0	0
Securities available for sale, at fair value	151,027	132,172	114,001
Other equity securities	0	0	0
Loans held for sale	2,509	2,400	5,696
Trading assets	4,278	1,784	983
Loans, net	1,277,836	1,237,491	1,030,104
Bank owned life insurance	29,343	22,201	22,458
Annuities	15,523	12,888	12,903
Accrued interest receivable	4,427	4,170	4,243
Restricted equity securities	0	0	0
Financial liabilities:
Deposits	1,469,334	1,507,190	1,140,979
Trading liabilities	4,322	1,843	1,013
FHLB advances	25,829	25,926	30,962
Other borrowings	0	12,498	7,975
Subordinated notes	47,154	0	4,493
Accrued interest payable	107	132	278
Fair Value, Inputs, Level 3
Financial assets:
Cash and cash equivalents	0	0	0
Securities available for sale, at fair value	0	0	0
Other equity securities	4,083	4,247	0
Loans held for sale	0	0	0
Trading assets	0	0	0
Loans, net	8,329	7,718	4,392
Bank owned life insurance	0	0	0
Annuities	0	0	0
Accrued interest receivable	0	0	0
Restricted equity securities	2,825	2,600	3,224
Financial liabilities:
Deposits	0	0	0
Trading liabilities	0	0	0
FHLB advances	0	0	0
Other borrowings	0	0	0
Subordinated notes	0	0	0
Accrued interest payable	$ 0	$ 0	$ 0

FAIR VALUE OF ASSETS AND LIABILITIES - Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	$ 151,027	$ 132,172	$ 114,001
Other equity securities, at fair value	8,937	9,232	5,017
Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	0	0	0
Other equity securities, at fair value	4,854	4,985	5,017
Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	151,027	132,172	114,001
Other equity securities, at fair value	0	0	0
Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	0	0	0
Other equity securities, at fair value	4,083	4,247	0
Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other equity securities, at fair value	8,937	9,232	5,017
Interest Rate Products - asset	4,278	1,784	983
Interest Rate Products - liabilities	4,322	(1,843)	(1,013)
Fair Value, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other equity securities, at fair value	4,854	4,985	5,017
Interest Rate Products - asset	0	0	0
Interest Rate Products - liabilities	0	0	0
Fair Value, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other equity securities, at fair value	0	0	0
Interest Rate Products - asset	4,278	1,784	983
Interest Rate Products - liabilities	4,322	(1,843)	(1,013)
Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other equity securities, at fair value	4,083	4,247	0
Interest Rate Products - asset	0	0	0
Interest Rate Products - liabilities	0	0	0
U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	9,241	7,822	0
U.S. Treasury securities \| Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	9,241	7,822	0
U.S. Treasury securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	0	0	0
U.S. Treasury securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	9,241	7,822	0
U.S. Treasury securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	0	0	0
U.S. Government Sponsored Enterprises (GSEs)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	8,039	9,193	9,366
U.S. Government Sponsored Enterprises (GSEs) \| Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	8,039	9,193	9,366
U.S. Government Sponsored Enterprises (GSEs) \| Fair Value, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	0	0	0
U.S. Government Sponsored Enterprises (GSEs) \| Fair Value, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	8,039	9,193	9,366
U.S. Government Sponsored Enterprises (GSEs) \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	0	0	0
State and municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	54,646	56,781	67,941
State and municipal securities \| Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	54,646	56,781	67,941
State and municipal securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	0	0	0
State and municipal securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	54,646	56,781	67,941
State and municipal securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	0	0	0
Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	10,441	10,784	8,469
Corporate debt securities \| Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	10,441	10,784	8,469
Corporate debt securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	0	0	0
Corporate debt securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	10,441	10,784	8,469
Corporate debt securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	0	0	0
Asset based securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	10,005	10,472	9,111
Asset based securities \| Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	10,005	10,472	9,111
Asset based securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	0	0	0
Asset based securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	10,005	10,472	9,111
Asset based securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	0	0	0
Mortgage-backed GSE residential/multifamily and non-GSE
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	58,655	37,120	19,114
Mortgage-backed GSE residential/multifamily and non-GSE \| Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	58,655	37,120	19,114
Mortgage-backed GSE residential/multifamily and non-GSE \| Fair Value, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	0	0	0
Mortgage-backed GSE residential/multifamily and non-GSE \| Fair Value, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	58,655	37,120	19,114
Mortgage-backed GSE residential/multifamily and non-GSE \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities available for sale, at fair value	$ 0	$ 0	$ 0