0001628280-24-011126 | 10-K | XBRL Viewer | Southern States Bancshares INC

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SUBSEQUENT EVENTS - Narrative (Details) - Subsequent Event	Feb. 27, 2024 branch $ / shares
Century Bank
Subsequent Event [Line Items]
Number of operating branches \| branch	2
CBB Bancorp
Subsequent Event [Line Items]
Shares issued in Merger Agreement stock conversion (in dollars per share)	$ 1.550
Value of stock issued in Merger Agreement (in dollars per share)	$ 45.63
Maximum percentage of Merger Agreement consideration to be paid in cash	10.00%

DEPOSITS (Tables)

12 Months Ended

Dec. 31, 2023

Banking and Thrift, Interest [Abstract]

Schedule of Composition of Deposits

Major classifications of deposits are as follows:


	December 31,
	2023		2022
Noninterest-bearing transaction	$	437,959	$	460,977
Interest-bearing transaction	946,347		837,127
Savings	35,412		49,235
Time deposits, $250,000 and under	500,406		307,145
Time deposits, over $250,000	98,065		66,259
Total	$	2,018,189	$	1,720,743

Schedule of Time Deposit Maturities

The scheduled maturities of time deposits at December 31, 2023 are as follows:


2024	$	488,408
2025	61,911
2026	28,438
2027	11,322
2028	8,365
Thereafter	27
Total	$	598,471

INCOME TAXES - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred income tax assets:
Funded credit loss reserves	$ 6,371	$ 5,268
Unfunded credit loss reserves	324	0
Deferred compensation	1,445	1,269
Intangible assets created from asset purchase	22	28
Loans purchased at a premium	18	34
Restricted stock	317	248
Deferred origination fees	1,612	1,348
Net loss on fair market adjustments	7	130
Employee retention credit	1,016	0
Unrealized loss on securities available for sale	2,944	3,882
Other	36	0
Deferred tax assets, gross	14,112	12,207
Deferred income tax liabilities:
Loans purchased at a discount	90	96
Depreciation	174	239
Intangible assets created from stock purchase	235	321
Investment tax credit	230	142
Other	0	27
Deferred tax liabilities, gross	729	825
Net deferred income tax asset	$ 13,383	$ 11,382

DEPOSITS - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Banking and Thrift, Interest [Abstract]
Brokered deposits	$ 230,858	$ 110,503
Overdrawn deposits reclassified as loans	$ 174	$ 137

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Interest income:
Loans, including fees	$ 114,662	$ 74,936
Taxable securities	6,806	3,622
Nontaxable securities	977	1,253
Other interest and dividends	9,815	3,039
Total interest income	132,260	82,850
Interest expense:
Deposits	45,368	8,906
Other borrowings	6,780	2,606
Total interest expense	52,148	11,512
Net interest income	80,112	71,338
Provision for credit losses	6,090	5,605
Net interest income after provision for credit losses	74,022	65,733
Noninterest income:
Service charges on deposit accounts	$ 1,790	$ 1,863
Revenue, Product and Service [Extensible Enumeration]	Deposit Account [Member]	Deposit Account [Member]
Swap fees	$ 691	$ 49
SBA/USDA fees	344	646
Mortgage origination fees	533	815
Net gain (loss) on securities	555	(632)
Other operating income	4,961	5,936
Total noninterest income	8,874	8,677
Noninterest expenses:
Salaries and employee benefits	25,665	24,597
Equipment and occupancy expenses	2,776	2,918
Data processing fees	2,528	2,444
Regulatory assessments	1,198	925
Other operating expenses	9,709	8,730
Total noninterest expenses	41,876	39,614
Income before income taxes	41,020	34,796
Income tax expense	9,068	7,725
Net income	$ 31,952	$ 27,071
Basic earnings per share (in dollars per share)	$ 3.63	$ 3.08
Dilutive earnings per share (in dollars per share)	$ 3.53	$ 3.02

FORECLOSED ASSETS

12 Months Ended

Dec. 31, 2023

Repossessed Assets [Abstract]

FORECLOSED ASSETS

A summary of foreclosed assets is presented as follows:


	December 31,
	2023		2022
Balance, beginning of year	$	2,930	$	2,930
Acquired through settlement of loans	43		—
Sales proceeds	(403)		—

Transfers to loans	(2,517)		—
Net loss on sales of foreclosed assets	(20)		—

Balance, end of year	$	33	$	2,930

The carrying amount of other real estate owned categorized as residential real estate at December 31, 2023 and 2022 was $0 and $60, respectively.

INCOME TAXES - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income tax expense at federal statutory rate	$ 8,614	$ 7,307
State income tax	1,530	1,268
Tax exempt income	(80)	(253)
Investment tax credit	(675)	(675)
Other	(321)	78
Income tax expense	$ 9,068	$ 7,725

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

FAIR VALUE OF ASSETS AND LIABILITIES - Schedule of Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ 179,000	$ 155,544
Other equity securities, at fair value	$ 3,649	$ 4,444
Derivative Asset, Statement Of Financial Position, Extensible Enumeration, Not Disclosed Flag	Interest Rate Products - asset	Interest Rate Products - asset
Derivative Liability Statement Of Financial Position Extensible Enumeration Not Disclosed Flag	Interest Rate Products - liabilities	Interest Rate Products - liabilities
Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ 0	$ 0
Other equity securities, at fair value	3,649	3,674
Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	179,000	155,544
Other equity securities, at fair value	0	0
Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	0	0
Other equity securities, at fair value	0	770
Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other equity securities, at fair value	3,649	4,444
Interest Rate Products - asset	7,691	8,870
Interest Rate Products - liabilities	(7,726)	(8,882)
Fair Value, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other equity securities, at fair value	3,649	3,674
Interest Rate Products - asset	0	0
Interest Rate Products - liabilities	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
Interest Rate Products - asset	7,691	8,870
Interest Rate Products - liabilities	(7,726)	(8,882)
Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other equity securities, at fair value	0	770
Interest Rate Products - asset	0	0
Interest Rate Products - liabilities	0	0
U.S. Treasury securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	8,772	8,584
U.S. Treasury securities \| Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	8,772	8,584
U.S. Treasury securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	0	0
U.S. Treasury securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	8,772	8,584
U.S. Treasury securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	0	0
U.S. Government Sponsored Enterprises (GSEs)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	2,268	1,788
U.S. Government Sponsored Enterprises (GSEs) \| Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	2,268	1,788
U.S. Government Sponsored Enterprises (GSEs) \| Fair Value, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	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]
Fair Value	2,268	1,788
U.S. Government Sponsored Enterprises (GSEs) \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	0	0
State and municipal securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	41,069	49,925
State and municipal securities \| Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	41,069	49,925
State and municipal securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	0	0
State and municipal securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	41,069	49,925
State and municipal securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	0	0
Corporate debt securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	11,259	11,627
Corporate debt securities \| Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	11,259	11,627
Corporate debt securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	0	0
Corporate debt securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	11,259	11,627
Corporate debt securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	0	0
Asset based securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	18,687	13,337
Asset based securities \| Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	18,687	13,337
Asset based securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	0	0
Asset based securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	18,687	13,337
Asset based securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	0	0
Mortgage-backed GSE residential/multifamily and non-GSE
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	96,945	70,283
Mortgage-backed GSE residential/multifamily and non-GSE \| Fair Value, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	96,945	70,283
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]
Fair Value	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]
Fair Value	96,945	70,283
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]
Fair Value	$ 0	$ 0

FAIR VALUE OF ASSETS AND LIABILITIES - Schedule of Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial assets:
Cash and cash equivalents	$ 250,651	$ 168,499
Securities available for sale	179,000	155,544
Other equity securities	3,649	4,444
Loans held for sale	450	1,047
Trading assets	7,691	8,870
Loans, net	1,860,130	1,567,008
Bank owned life insurance	29,884	29,186
Annuities	15,036	15,478
Accrued interest receivable	8,711	6,963
Restricted equity securities	5,684	3,134
Financial liabilities:
Deposits	2,018,189	1,720,743
Trading liabilities	7,726	8,882
FHLB advances	70,000	31,000
Other borrowings	26,994	(19)
Subordinated notes	86,679	86,314
Accrued interest payable	1,519	584
Fair Value, Inputs, Level 1
Financial assets:
Cash and cash equivalents	250,651	168,499
Securities available for sale	0	0
Other equity securities	3,649	3,674
Loans held for sale	0	0
Trading assets	0	0
Loans, net	0	0
Bank owned life insurance	0	0
Annuities	0	0
Accrued interest receivable	0	0
Restricted equity securities	0	0
Financial liabilities:
Deposits	0	0
Trading liabilities	0	0
FHLB advances	0	0
Other borrowings	0	0
Subordinated notes	0	0
Accrued interest payable	0	0
Fair Value, Inputs, Level 2
Financial assets:
Cash and cash equivalents	0	0
Securities available for sale	179,000	155,544
Other equity securities	0	0
Loans held for sale	450	1,047
Trading assets	7,691	8,870
Loans, net	1,824,800	1,529,646
Bank owned life insurance	29,884	29,186
Annuities	15,036	15,478
Accrued interest receivable	8,711	6,963
Restricted equity securities	0	0
Financial liabilities:
Deposits	2,016,506	1,714,249
Trading liabilities	7,726	8,882
FHLB advances	70,029	30,788
Other borrowings	26,994	(19)
Subordinated notes	86,679	86,314
Accrued interest payable	1,519	584
Fair Value, Inputs, Level 3
Financial assets:
Cash and cash equivalents	0	0
Securities available for sale	0	0
Other equity securities	0	770
Loans held for sale	0	0
Trading assets	0	0
Loans, net	3,095	1,020
Bank owned life insurance	0	0
Annuities	0	0
Accrued interest receivable	0	0
Restricted equity securities	5,684	3,134
Financial liabilities:
Deposits	0	0
Trading liabilities	0	0
FHLB advances	0	0
Other borrowings	0	0
Subordinated notes	0	0
Accrued interest payable	$ 0	$ 0

EMPLOYEE AND DIRECTOR BENEFITS - Schedule of Nonvested Restricted Stock (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Restricted Stock
Number
Non vested beginning of year (in shares)	39,295	39,314
Granted (in shares)	23,534	24,265
Forfeited (in shares)	(7,135)	0
Vested (in shares)	(24,949)	(24,284)
Non vested end of year (in shares)	30,745	39,295
Weighted Average Grant Date Fair Value
Non vested beginning of year weighted average exercise price (in dollars per share)	$ 20.05	$ 19.50
Granted weighted average exercise price (in dollars per share)	29.02	20.61
Forfeited weighted average exercise price per share (in dollars per share)	24.78	0
Vested weighted average exercise price (in dollars per share)	21.71	19.71
Non vested end of year weighted average exercise price (in dollars per share)	$ 24.47	$ 20.05
Restricted Stock Units (RSUs)
Number
Non vested beginning of year (in shares)	71,429	0
Granted (in shares)	0	107,144
Forfeited (in shares)	(12,711)
Vested (in shares)	(31,478)	(35,715)
Non vested end of year (in shares)	27,240	71,429
Weighted Average Grant Date Fair Value
Non vested beginning of year weighted average exercise price (in dollars per share)	$ 28.52	$ 0
Granted weighted average exercise price (in dollars per share)	0	28.52
Forfeited weighted average exercise price per share (in dollars per share)	28.52
Vested weighted average exercise price (in dollars per share)	28.52	28.52
Non vested end of year weighted average exercise price (in dollars per share)	$ 28.52	$ 28.52

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of 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,
	2023		2022
Land and land improvements	$	8,720	$	8,720
Building	23,120		23,090
Furniture and equipment	5,292		5,163
	37,132		36,973
Accumulated depreciation	(10,706)		(9,628)
Total premises and equipment	$	26,426	$	27,345

FAIR VALUE OF ASSETS AND LIABILITIES - Schedule of Fair Value Measurements, Nonrecurring (Details) - Fair Value, Nonrecurring - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	$ 3,128	$ 3,950
Individually analyzed loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	3,095
Foreclosed assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	33	2,930
Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount		1,020
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	0	0
Fair Value, Inputs, Level 1 \| Individually analyzed loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	0
Fair Value, Inputs, Level 1 \| Foreclosed assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	0	0
Fair Value, Inputs, Level 1 \| Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount		0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	0	0
Fair Value, Inputs, Level 2 \| Individually analyzed loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	0
Fair Value, Inputs, Level 2 \| Foreclosed assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	0	0
Fair Value, Inputs, Level 2 \| Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount		0
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	3,128	3,950
Fair Value, Inputs, Level 3 \| Individually analyzed loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	3,095
Fair Value, Inputs, Level 3 \| Foreclosed assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	$ 33	2,930
Fair Value, Inputs, Level 3 \| Impaired loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount		$ 1,020

LOANS - Schedule of Financing Receivable Credit Quality Indicators (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
2023	$ 403,750
2022	576,496
2021	351,083
2020	169,732
2019	78,403
Prior	166,352
Revolving Loans	144,861
Total	1,890,677	$ 1,592,707
2023, Write-off	424
2022, Write-off	57
2021, Write-off	169
2020, Write-off	44
2019, Write-off	0
Prior, Write-off	0
Revolving Loans, Write-off	3
Total, Write-off	697
Collateral dependent loans	19,846
ACL	1,366
Real Estate
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	16,704
Other
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	3,142
Real Estate
Financing Receivable, Credit Quality Indicator [Line Items]
Total		1,328,499
Real Estate \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
2023	48,141
2022	139,291
2021	39,679
2020	1,721
2019	1,969
Prior	9,643
Revolving Loans	2,516
Total	242,960	255,736
2023, Write-off	0
2022, Write-off	0
2021, Write-off	0
2020, Write-off	0
2019, Write-off	0
Prior, Write-off	0
Revolving Loans, Write-off	3
Total, Write-off	3
Collateral dependent loans	210
ACL	31
Real Estate \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
2023	51,216
2022	54,728
2021	23,808
2020	42,071
2019	6,649
Prior	12,945
Revolving Loans	33,186
Total	224,603	167,891
2023, Write-off	0
2022, Write-off	0
2021, Write-off	0
2020, Write-off	0
2019, Write-off	0
Prior, Write-off	0
Revolving Loans, Write-off	0
Total, Write-off	0
Collateral dependent loans	980
ACL	72
Real Estate \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
2023	233,494
2022	328,788
2021	266,658
2020	101,690
2019	64,320
Prior	135,232
Revolving Loans	14,685
Total	1,144,867	904,872
2023, Write-off	0
2022, Write-off	0
2021, Write-off	0
2020, Write-off	0
2019, Write-off	0
Prior, Write-off	0
Revolving Loans, Write-off	0
Total, Write-off	0
Collateral dependent loans	15,514
ACL	162
Real Estate \| Real Estate \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	210
Real Estate \| Real Estate \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	980
Real Estate \| Real Estate \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	15,514
Real Estate \| Other \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	0
Real Estate \| Other \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	0
Real Estate \| Other \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	0
Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
2023	68,608
2022	52,578
2021	20,646
2020	24,101
2019	5,149
Prior	7,257
Revolving Loans	91,622
Total	269,961	256,553
2023, Write-off	424
2022, Write-off	51
2021, Write-off	167
2020, Write-off	44
2019, Write-off	0
Prior, Write-off	0
Revolving Loans, Write-off	0
Total, Write-off	686
Collateral dependent loans	3,131
ACL	1,100
Commercial and industrial \| Real Estate
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	0
Commercial and industrial \| Other
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	3,131
Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
2023	2,291
2022	1,111
2021	292
2020	149
2019	316
Prior	1,275
Revolving Loans	2,852
Total	8,286	7,655
2023, Write-off	0
2022, Write-off	6
2021, Write-off	2
2020, Write-off	0
2019, Write-off	0
Prior, Write-off	0
Revolving Loans, Write-off	0
Total, Write-off	8
Collateral dependent loans	11
ACL	1
Consumer and other \| Real Estate
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	0
Consumer and other \| Other
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	11
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2023	402,883
2022	574,386
2021	340,412
2020	164,398
2019	77,445
Prior	151,636
Revolving Loans	141,259
Total	1,852,419	1,555,152
Pass \| Real Estate \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
2023	48,141
2022	139,291
2021	39,679
2020	1,721
2019	1,969
Prior	5,214
Revolving Loans	2,516
Total	238,531	251,130
Pass \| Real Estate \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
2023	51,135
2022	54,610
2021	23,808
2020	42,071
2019	6,496
Prior	12,883
Revolving Loans	33,132
Total	224,135	165,388
Pass \| Real Estate \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
2023	232,834
2022	328,006
2021	256,007
2020	99,067
2019	63,906
Prior	125,007
Revolving Loans	14,685
Total	1,119,512	883,082
Pass \| Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
2023	68,482
2022	51,368
2021	20,626
2020	21,390
2019	4,758
Prior	7,257
Revolving Loans	88,074
Total	261,955	247,948
Pass \| Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
2023	2,291
2022	1,111
2021	292
2020	149
2019	316
Prior	1,275
Revolving Loans	2,852
Total	8,286	7,604
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2023	207
2022	350
2021	2,840
2020	5,334
2019	586
Prior	8,919
Revolving Loans	1,873
Total	20,109	33,208
Special Mention \| Real Estate \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	4,429
Revolving Loans	0
Total	4,429	4,539
Special Mention \| Real Estate \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
2023	81
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total	81	1,787
Special Mention \| Real Estate \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	350
2021	2,840
2020	2,623
2019	414
Prior	4,490
Revolving Loans	0
Total	10,717	18,532
Special Mention \| Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
2023	126
2022	0
2021	0
2020	2,711
2019	172
Prior	0
Revolving Loans	1,873
Total	4,882	8,322
Special Mention \| Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total	0	28
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2023	660
2022	1,760
2021	7,831
2020	0
2019	372
Prior	5,797
Revolving Loans	1,729
Total	18,149	4,347
Substandard \| Real Estate \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total	0	67
Substandard \| Real Estate \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	118
2021	0
2020	0
2019	153
Prior	62
Revolving Loans	54
Total	387	716
Substandard \| Real Estate \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
2023	660
2022	432
2021	7,811
2020	0
2019	0
Prior	5,735
Revolving Loans	0
Total	14,638	3,258
Substandard \| Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	1,210
2021	20
2020	0
2019	219
Prior	0
Revolving Loans	1,675
Total	3,124	283
Substandard \| Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total	0	23
Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total	0	0
Doubtful \| Real Estate \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total	0	0
Doubtful \| Real Estate \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total	0	0
Doubtful \| Real Estate \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total	0	0
Doubtful \| Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total	0	0
Doubtful \| Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
2023	0
2022	0
2021	0
2020	0
2019	0
Prior	0
Revolving Loans	0
Total	$ 0	$ 0

REGULATORY MATTERS (Tables)

12 Months Ended

Dec. 31, 2023

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

As of December 31, 2023

Tier 1 capital (to average assets)
Company	$	205,582	8.99	%	$	91,503	4.00	%	$	—	—
Bank	$	274,850	12.01	%	$	91,503	4.00	%	$	114,379	5.00	%

CET 1 capital (to risk-weighted assets)
Company	$	205,582	9.20	%	$	156,378	7.00	%	$	—	—
Bank	$	274,850	12.30	%	$	156,378	7.00	%	$	145,209	6.50	%

Tier 1 capital (to risk-weighted assets)
Company	$	205,582	9.20	%	$	189,888	8.50	%	$	—	—
Bank	$	274,850	12.30	%	$	189,888	8.50	%	$	178,718	8.00	%

Total capital (to risk-weighted assets)
Company	$	319,199	14.29	%	$	234,568	10.50	%	$	—	—
Bank	$	300,467	13.45	%	$	234,568	10.50	%	$	223,398	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, 2022

Tier 1 capital (to average assets)
Company	$	174,679	8.82	%	$	79,182	4.00	%	$	—	—
Bank	$	240,815	12.17	%	$	79,182	4.00	%	$	98,977	5.00	%

CET 1 capital (to risk-weighted assets)
Company	$	174,679	8.86	%	$	138,018	7.00	%	$	—	—
Bank	$	240,815	12.21	%	$	138,018	7.00	%	$	128,160	6.50	%

Tier 1 capital (to risk-weighted assets)
Company	$	174,679	8.86	%	$	167,593	8.50	%	$	—	—
Bank	$	240,815	12.21	%	$	167,593	8.50	%	$	157,735	8.00	%

Total capital (to risk-weighted assets)
Company	$	282,835	14.34	%	$	207,027	10.50	%	$	—	—
Bank	$	260,971	13.24	%	$	207,027	10.50	%	$	197,169	10.00	%

EARNINGS PER SHARE - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Basic Earnings Per Share:
Net income	$ 31,952	$ 27,071
Weighted average common shares outstanding (in shares)	8,809,590	8,774,860
Basic earnings per share (in dollars per share)	$ 3.63	$ 3.08
Diluted Earnings Per Share:
Net income allocated to common shareholders	$ 31,938	$ 27,053
Weighted average common shares outstanding (in shares)	8,809,590	8,774,860
Net dilutive effect of:
Assumed exercises of stock options and vesting of restricted stock units (in shares)	228,564	174,809
Average shares and dilutive potential common shares (in shares)	9,038,154	8,949,669
Dilutive earnings per share (in dollars per share)	$ 3.53	$ 3.02

STOCKHOLDERS’ EQUITY (Details) - shares	Dec. 31, 2023	Dec. 31, 2022
Equity [Abstract]
Common stock issued (in shares)	8,841,349	8,706,920
Common stock outstanding (in shares)	8,841,349	8,706,920

SECURITIES - Schedule of Continuous Unrealized Loss Position (Details) $ in Thousands	Dec. 31, 2023 USD ($) security	Dec. 31, 2022 USD ($)
Gross Unrealized Losses
Less Than Twelve Months	$ (279)	$ (6,963)
Over Twelve Months	(11,319)	(8,070)
Total Unrealized Losses	(11,598)	(15,033)
Fair Value
Less Than Twelve Months	25,810	95,631
Over Twelve Months	125,132	53,588
Gross Unrealized Losses
Less Than Twelve Months	0	(2,072)
Over Twelve Months	(3,399)	(2,215)
Total Unrealized Losses	(3,399)	(4,287)
Fair Value
Less Than Twelve Months	0	8,153
Over Twelve Months	16,233	7,211
Gross Unrealized Losses
Less Than Twelve Months	(279)	(9,035)
Over Twelve Months	(14,718)	(10,285)
Total Unrealized Losses	(14,997)	(19,320)
Fair Value
Less Than Twelve Months	25,810	103,784
Over Twelve Months	$ 141,365	60,799
Number of securities in loss position \| security	228
U.S. Treasury securities
Gross Unrealized Losses
Less Than Twelve Months	$ 0	(119)
Over Twelve Months	(949)	(1,061)
Total Unrealized Losses	(949)	(1,180)
Fair Value
Less Than Twelve Months	0	1,873
Over Twelve Months	8,772	6,711
U.S. Government Sponsored Enterprises (GSEs)
Gross Unrealized Losses
Less Than Twelve Months	0	0
Over Twelve Months	(215)	(221)
Total Unrealized Losses	(215)	(221)
Fair Value
Less Than Twelve Months	0	0
Over Twelve Months	1,451	1,788
State and municipal securities
Gross Unrealized Losses
Less Than Twelve Months	0	(2,561)
Over Twelve Months	(4,172)	(3,818)
Total Unrealized Losses	(4,172)	(6,379)
Fair Value
Less Than Twelve Months	0	26,504
Over Twelve Months	40,663	19,012
Gross Unrealized Losses
Less Than Twelve Months	0	(2,072)
Over Twelve Months	(3,399)	(2,215)
Total Unrealized Losses	(3,399)	(4,287)
Fair Value
Less Than Twelve Months	0	8,153
Over Twelve Months	16,233	7,211
Corporate debt securities
Gross Unrealized Losses
Less Than Twelve Months	0	(507)
Over Twelve Months	(1,258)	(392)
Total Unrealized Losses	(1,258)	(899)
Fair Value
Less Than Twelve Months	0	8,497
Over Twelve Months	11,259	3,130
Asset based securities
Gross Unrealized Losses
Less Than Twelve Months	(11)	(178)
Over Twelve Months	(468)	(564)
Total Unrealized Losses	(479)	(742)
Fair Value
Less Than Twelve Months	1,102	6,497
Over Twelve Months	6,904	6,840
Mortgage-backed GSE residential/multifamily and non-GSE
Gross Unrealized Losses
Less Than Twelve Months	(268)	(3,598)
Over Twelve Months	(4,257)	(2,014)
Total Unrealized Losses	(4,525)	(5,612)
Fair Value
Less Than Twelve Months	24,708	52,260
Over Twelve Months	$ 56,083	$ 16,107

FAIR VALUE OF ASSETS AND LIABILITIES - Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Carrying value, beginning of period	$ 770	$ 4,247
Purchases	0	0
Reinvestments	13	150
Redemptions	(800)	(3,306)
Net realized gains	$ 17	$ (321)
Fair Value Recurring Basis Unobservable Input Reconciliation Asset Gain Loss Statement Of Income Extensible List Not Disclosed Flag	Net realized gains	Net realized gains
Carrying value, end of period	$ 0	$ 770

DEPOSITS - Schedule of Time Deposit Maturities (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Banking and Thrift, Interest [Abstract]
2024	$ 488,408
2025	61,911
2026	28,438
2027	11,322
2028	8,365
Thereafter	27
Time deposits	$ 598,471

RELATED PARTY TRANSACTIONS - Schedule of Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Directors and Executive Officers
Loans and Leases Receivable, Related Parties [Roll Forward]
Balance, beginning of year	$ 5,691	$ 7,323
Repayments	(3,101)	(2,257)
Balance, end of year	13,614	5,691
New directors
Loans and Leases Receivable, Related Parties [Roll Forward]
Advances	8,025	0
Other Directors and Executive Officers
Loans and Leases Receivable, Related Parties [Roll Forward]
Advances	$ 2,999	$ 625

PARENT COMPANY FINANCIAL INFORMATION - Schedule of Condensed Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Assets:
Other assets	$ 29,616	$ 25,886
Total assets	2,446,663	2,045,204
Liabilities and stockholders’ equity:
Other borrowings	26,994
Subordinated notes	86,679	86,314
Other liabilities	28,318	24,863
Total liabilities	2,231,699	1,863,485
Stockholders’ equity	214,964	181,719	$ 177,198
Total liabilities and stockholders' equity	2,446,663	2,045,204
Southern States Bancshares, Inc.
Assets:
Cash	14,967	19,405
Investment in subsidiary	284,232	247,856
Other assets	3,529	1,529
Total assets	302,728	268,790
Liabilities and stockholders’ equity:
Other borrowings	(6)	(19)
Subordinated notes	86,679	86,314
Other liabilities	1,091	776
Total liabilities	87,764	87,071
Stockholders’ equity	214,964	181,719
Total liabilities and stockholders' equity	$ 302,728	$ 268,790

PREMISES AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of 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,
	2023		2022
Land and land improvements	$	8,720	$	8,720
Building	23,120		23,090
Furniture and equipment	5,292		5,163
	37,132		36,973
Accumulated depreciation	(10,706)		(9,628)
Total premises and equipment	$	26,426	$	27,345

LOANS - Schedule of Allowance for Credit Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Allowance for credit losses:
Beginning balance	$ 20,156	$ 14,844
Provision (credit) for credit losses	6,090	5,605
Loans charged off	(697)	(578)
Recoveries of loans previously charged off	114	285
Ending balance	24,378	20,156
Ending balance - individually evaluated for impairment		514
Ending balance - collectively evaluated for impairment		19,605
Loans and Leases Receivable Disclosure [Abstract]
Ending balance - individually evaluated for impairment		8,999
Ending balance - collectively evaluated for impairment		1,582,566
Gross loan	1,890,677	1,592,707
Accounting Standards Update 2016-13
Allowance for credit losses:
Beginning balance	(1,285)
Ending balance	1,285	(1,285)
Loans and Leases Receivable Disclosure [Abstract]
Allowance for credit losses	1,239
Loans Acquired with Credit Deterioration
Allowance for credit losses:
Beginning balance	37
Ending balance		37
Loans and Leases Receivable Disclosure [Abstract]
Gross loan		1,142
Real Estate
Allowance for credit losses:
Beginning balance	14,443	11,554
Provision (credit) for credit losses	6,509	2,912
Loans charged off	(3)	(73)
Recoveries of loans previously charged off	41	50
Ending balance	19,826	14,443
Ending balance - individually evaluated for impairment		258
Ending balance - collectively evaluated for impairment		14,148
Loans and Leases Receivable Disclosure [Abstract]
Ending balance - individually evaluated for impairment		8,652
Ending balance - collectively evaluated for impairment		1,318,705
Gross loan		1,328,499
Real Estate \| Accounting Standards Update 2016-13
Allowance for credit losses:
Beginning balance	(1,164)
Ending balance		(1,164)
Real Estate \| Loans Acquired with Credit Deterioration
Allowance for credit losses:
Beginning balance	37
Ending balance		37
Loans and Leases Receivable Disclosure [Abstract]
Gross loan		1,142
Commercial
Allowance for credit losses:
Beginning balance	5,642	3,166
Provision (credit) for credit losses	(424)	2,750
Loans charged off	(686)	(479)
Recoveries of loans previously charged off	54	205
Ending balance	4,466	5,642
Ending balance - individually evaluated for impairment		248
Ending balance - collectively evaluated for impairment		5,394
Loans and Leases Receivable Disclosure [Abstract]
Ending balance - individually evaluated for impairment		313
Ending balance - collectively evaluated for impairment		256,240
Gross loan	269,961	256,553
Commercial \| Accounting Standards Update 2016-13
Allowance for credit losses:
Beginning balance	(120)
Ending balance		(120)
Commercial \| Loans Acquired with Credit Deterioration
Allowance for credit losses:
Beginning balance	0
Ending balance		0
Loans and Leases Receivable Disclosure [Abstract]
Gross loan		0
Consumer
Allowance for credit losses:
Beginning balance	71	124
Provision (credit) for credit losses	5	(57)
Loans charged off	(8)	(26)
Recoveries of loans previously charged off	19	30
Ending balance	86	71
Ending balance - individually evaluated for impairment		8
Ending balance - collectively evaluated for impairment		63
Loans and Leases Receivable Disclosure [Abstract]
Ending balance - individually evaluated for impairment		34
Ending balance - collectively evaluated for impairment		7,621
Gross loan	8,286	7,655
Consumer \| Accounting Standards Update 2016-13
Allowance for credit losses:
Beginning balance	(1)
Ending balance		(1)
Consumer \| Loans Acquired with Credit Deterioration
Allowance for credit losses:
Beginning balance	$ 0
Ending balance		0
Loans and Leases Receivable Disclosure [Abstract]
Gross loan		$ 0

LOANS - Narrative (Details)	Dec. 31, 2023 segment
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Number of loan portfolio segments	3

SECURITIES - Schedule of Realized Gain and Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Gross gains	$ 792	$ 331
Gross losses	(237)	(963)
Net realized gain (loss)	$ 555	$ (632)

PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

PREMISES AND EQUIPMENT

Premises and equipment is summarized as follows:


	December 31,
	2023		2022
Land and land improvements	$	8,720	$	8,720
Building	23,120		23,090
Furniture and equipment	5,292		5,163
	37,132		36,973
Accumulated depreciation	(10,706)		(9,628)
Total premises and equipment	$	26,426	$	27,345

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Loan Commitments


	December 31,
	2023		2022
Commitments to extend credit	$	501,935	$	550,315
Standby letters of credit	2,846		5,632
Total	$	504,781	$	555,947

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2023

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:

Loan Commitments (Continued)


	December 31,
	2023		2022
Commitments to extend credit	$	501,935	$	550,315
Standby letters of credit	2,846		5,632
Total	$	504,781	$	555,947

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 twelve months ended December 31, 2023 and December 31, 2022.

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.

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Capital Surplus	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Unvested Restricted Stock	Vested Restricted Stock Units
Beginning balance (in shares) at Dec. 31, 2021		0	9,012,857
Beginning balance at Dec. 31, 2021	$ 177,198	$ 0	$ 45,064	$ 80,640	$ 49,858	$ 2,113	$ (477)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 27,071				27,071
Exercise of common stock options (in shares)	15,300,000		15,300
Exercise of common stock options	$ 222		$ 78	144
Issuance of restricted stock (in shares)			24,265
Issuance of restricted stock	0		$ 121	379			(500)
Vesting of restricted stock units	0		$ 179	840				(1,019)
Repurchase of common stock under the stock repurchase program (in shares)			(345,502)
Repurchase of common stock under the stock repurchase program	(7,358)		$ (1,728)	(5,630)
Stock-based compensation	912			412			500
Common stock dividends paid	(3,165)				(3,165)
Other comprehensive loss	(13,161)					(13,161)
Ending balance (in shares) at Dec. 31, 2022		0	8,706,920
Ending balance at Dec. 31, 2022	181,719	$ 0	$ 43,714	76,785	73,764	(11,048)	(477)	(1,019)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	31,952				31,952
Issuance of common stock (in shares)			4,875
Issuance of common stock	$ 109		$ 24	85
Exercise of common stock options (in shares)	180,141,000		143,644
Exercise of common stock options	$ 1,454		$ 718	736
Issuance of restricted stock (in shares)			23,534
Issuance of restricted stock	0		$ 118	565			(683)
Forfeiture of restricted stock (in shares)			(7,135)
Forfeiture of restricted stock	0		$ (36)	(141)			177
Vesting of restricted stock units	0		$ 157	741				(898)
Issuance of restricted stock units (in shares)			12,713
Issuance of restricted stock units	363							363
Repurchase of common stock under the stock repurchase program (in shares)			(43,202)
Repurchase of common stock under the stock repurchase program	(979)		$ (216)	(763)
Stock-based compensation	870			353			517
Common stock dividends paid	(3,193)				(3,193)
Other comprehensive loss	2,669					2,669
Ending balance (in shares) at Dec. 31, 2023		0	8,841,349
Ending balance at Dec. 31, 2023	$ 214,964	$ 0	$ 44,479	$ 78,361	$ 102,523	$ (8,379)	$ (466)	$ (1,554)

SECURITIES - Schedule of Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 190,322	$ 170,474
Gross Unrealized Gains	276	103
Gross Unrealized Losses	(11,598)	(15,033)
Fair Value	179,000	155,544
Securities Held to Maturity
Amortized Cost	19,632	19,652
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(3,399)	(4,287)
Fair Value	16,233	15,365
Total securities
Amortized Cost	209,954	190,126
Gross Unrealized Gains	276	103
Gross Unrealized Losses	(14,997)	(19,320)
Fair Value	195,233	170,909
Debt securities restricted	27,477	32,222
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	9,721	9,764
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(949)	(1,180)
Fair Value	8,772	8,584
U.S. Government Sponsored Enterprises (GSEs)
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,446	2,009
Gross Unrealized Gains	37	0
Gross Unrealized Losses	(215)	(221)
Fair Value	2,268	1,788
State and municipal securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	45,220	56,204
Gross Unrealized Gains	21	100
Gross Unrealized Losses	(4,172)	(6,379)
Fair Value	41,069	49,925
Securities Held to Maturity
Amortized Cost	19,632	19,652
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(3,399)	(4,287)
Fair Value	16,233	15,365
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	12,517	12,526
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(1,258)	(899)
Fair Value	11,259	11,627
Asset based securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	19,112	14,079
Gross Unrealized Gains	54	0
Gross Unrealized Losses	(479)	(742)
Fair Value	18,687	13,337
Mortgage-backed GSE residential/multifamily and non-GSE
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	101,306	75,892
Gross Unrealized Gains	164	3
Gross Unrealized Losses	(4,525)	(5,612)
Fair Value	$ 96,945	$ 70,283

SECURITIES (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Debt Securities, Available-for-sale

The amortized cost and fair value of securities at December 31, 2023 and December 31, 2022 are summarized as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2023
Securities Available for Sale
U.S. Treasury securities	$	9,721	$	—	$	(949)	$	8,772
U.S. Government Sponsored Enterprises (GSEs)	2,446		37		(215)		2,268
State and municipal securities	45,220		21		(4,172)		41,069
Corporate debt securities	12,517		—		(1,258)		11,259
Asset based securities	19,112		54		(479)		18,687
Mortgage-backed GSE residential/multifamily and non-GSE	101,306		164		(4,525)		96,945
Total securities available for sale	$	190,322	$	276	$	(11,598)	$	179,000

Securities Held to Maturity


State and municipal securities	19,632		—		(3,399)		16,233



Total securities held to maturity	$	19,632	$	—	$	(3,399)	$	16,233
Total securities	$	209,954	$	276	$	(14,997)	$	195,233


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2022
Securities Available for Sale
U.S. Treasury securities	$	9,764	$	—	$	(1,180)	$	8,584
U.S. Government Sponsored Enterprises (GSEs)	2,009		—		(221)		1,788
State and municipal securities	56,204		100		(6,379)		49,925
Corporate debt securities	12,526		—		(899)		11,627
Asset based securities	14,079		—		(742)		13,337
Mortgage-backed GSE residential/multifamily and non-GSE	75,892		3		(5,612)		70,283
Total securities available for sale	$	170,474	$	103	$	(15,033)	$	155,544

Securities Held to Maturity


State and municipal securities	19,652		—		(4,287)		15,365



Total securities held to maturity	$	19,652	$	—	$	(4,287)	$	15,365
Total securities	$	190,126	$	103	$	(19,320)	$	170,909

Schedule of Debt Securities, Held-to-maturity

The amortized cost and fair value of securities at December 31, 2023 and December 31, 2022 are summarized as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2023
Securities Available for Sale
U.S. Treasury securities	$	9,721	$	—	$	(949)	$	8,772
U.S. Government Sponsored Enterprises (GSEs)	2,446		37		(215)		2,268
State and municipal securities	45,220		21		(4,172)		41,069
Corporate debt securities	12,517		—		(1,258)		11,259
Asset based securities	19,112		54		(479)		18,687
Mortgage-backed GSE residential/multifamily and non-GSE	101,306		164		(4,525)		96,945
Total securities available for sale	$	190,322	$	276	$	(11,598)	$	179,000

Securities Held to Maturity


State and municipal securities	19,632		—		(3,399)		16,233



Total securities held to maturity	$	19,632	$	—	$	(3,399)	$	16,233
Total securities	$	209,954	$	276	$	(14,997)	$	195,233


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2022
Securities Available for Sale
U.S. Treasury securities	$	9,764	$	—	$	(1,180)	$	8,584
U.S. Government Sponsored Enterprises (GSEs)	2,009		—		(221)		1,788
State and municipal securities	56,204		100		(6,379)		49,925
Corporate debt securities	12,526		—		(899)		11,627
Asset based securities	14,079		—		(742)		13,337
Mortgage-backed GSE residential/multifamily and non-GSE	75,892		3		(5,612)		70,283
Total securities available for sale	$	170,474	$	103	$	(15,033)	$	155,544

Securities Held to Maturity


State and municipal securities	19,652		—		(4,287)		15,365



Total securities held to maturity	$	19,652	$	—	$	(4,287)	$	15,365
Total securities	$	190,126	$	103	$	(19,320)	$	170,909

Schedule of Investments Classified by Contractual Maturity Date

The amortized cost and fair value of securities available for sale and securities held to maturity as of December 31, 2023 and December 31, 2022 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:


	December 31,
	2023				2022
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Securities Available for Sale
Due in less than one year	$	482	$	476	$	—	$	—
Due from one year to five years	11,671		10,855		8,338		7,818
Due after five to ten years	22,537		20,439		24,468		22,047
Due after ten years	54,326		50,285		61,776		55,396
Mortgage-backed securities	101,306		96,945		75,892		70,283
Total securities available for sale	$	190,322	$	179,000	$	170,474	$	155,544

Securities Held to Maturity
Due in less than one year	$	—	$	—	$	—	$	—
Due from one year to five years	—		—		—		—
Due after five to ten years	7,743		6,483		5,310		4,255
Due after ten years	11,889		9,750		14,342		11,110
Mortgage-backed securities	—		—		—		—
Total securities held to maturity	$	19,632	$	16,233	$	19,652	$	15,365
Total securities	$	209,954	$	195,233	$	190,126	$	170,909

Schedule of Realized Gain and Loss

Gains and losses on sales and change in value of securities available for sale and other equity securities held at fair value for the years ended December 31, 2023 and December 31, 2022 consist of the following:


	Years Ended December 31,
	2023		2022
Gross gains	$	792	$	331
Gross losses	(237)		(963)
Net realized gain (loss)	$	555	$	(632)

Schedule of Restricted Investments

Restricted equity securities as of December 31, 2023 and December 31, 2022 consist of the following:


	December 31,
	2023		2022
Federal Home Loan Bank stock	$	4,759	$	2,209
First National Banker’s Bankshares, Inc. stock	675		675
Pacific Coast Banker’s Bank stock	250		250
Total restricted equity securities	$	5,684	$	3,134

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

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 December 31, 2023 and December 31, 2022.


	Less Than Twelve Months				Over Twelve Months
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Total Unrealized Losses
December 31, 2023
Securities Available for Sale
U.S. Treasury securities	$	—	$	—	$	(949)	$	8,772	$	(949)
U.S. Government Sponsored Enterprises (GSEs)	—		—		(215)		1,451		(215)
State and municipal securities	—		—		(4,172)		40,663		(4,172)
Corporate debt securities	—		—		(1,258)		11,259		(1,258)
Asset based securities	(11)		1,102		(468)		6,904		(479)
Mortgage-backed GSE residential/multifamily and non-GSE	(268)		24,708		(4,257)		56,083		(4,525)
Total securities available for sale	$	(279)	$	25,810	$	(11,319)	$	125,132	$	(11,598)

Securities Held to Maturity


State and municipal securities	—		—		(3,399)		16,233		(3,399)



Total securities held to maturity	$	—	$	—	$	(3,399)	$	16,233	$	(3,399)
Total securities	$	(279)	$	25,810	$	(14,718)	$	141,365	$	(14,997)


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

December 31, 2022
Securities Available for Sale
U.S. Treasury securities	$	(119)	$	1,873	$	(1,061)	$	6,711	$	(1,180)
U.S. Government Sponsored Enterprises (GSEs)	—		—		(221)		1,788		(221)
State and municipal securities	(2,561)		26,504		(3,818)		19,012		(6,379)
Corporate debt securities	(507)		8,497		(392)		3,130		(899)
Asset based securities	(178)		6,497		(564)		6,840		(742)
Mortgage-backed GSE residential/multifamily and non-GSE	(3,598)		52,260		(2,014)		16,107		(5,612)
Total securities available for sale	$	(6,963)	$	95,631	$	(8,070)	$	53,588	$	(15,033)

Securities Held to Maturity


State and municipal securities	(2,072)		8,153		(2,215)		7,211		(4,287)



Total securities held to maturity	$	(2,072)	$	8,153	$	(2,215)	$	7,211	$	(4,287)
Total securities	$	(9,035)	$	103,784	$	(10,285)	$	60,799	$	(19,320)

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


	Less Than Twelve Months				Over Twelve Months
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Total Unrealized Losses
December 31, 2023
Securities Available for Sale
U.S. Treasury securities	$	—	$	—	$	(949)	$	8,772	$	(949)
U.S. Government Sponsored Enterprises (GSEs)	—		—		(215)		1,451		(215)
State and municipal securities	—		—		(4,172)		40,663		(4,172)
Corporate debt securities	—		—		(1,258)		11,259		(1,258)
Asset based securities	(11)		1,102		(468)		6,904		(479)
Mortgage-backed GSE residential/multifamily and non-GSE	(268)		24,708		(4,257)		56,083		(4,525)
Total securities available for sale	$	(279)	$	25,810	$	(11,319)	$	125,132	$	(11,598)

Securities Held to Maturity


State and municipal securities	—		—		(3,399)		16,233		(3,399)



Total securities held to maturity	$	—	$	—	$	(3,399)	$	16,233	$	(3,399)
Total securities	$	(279)	$	25,810	$	(14,718)	$	141,365	$	(14,997)


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

December 31, 2022
Securities Available for Sale
U.S. Treasury securities	$	(119)	$	1,873	$	(1,061)	$	6,711	$	(1,180)
U.S. Government Sponsored Enterprises (GSEs)	—		—		(221)		1,788		(221)
State and municipal securities	(2,561)		26,504		(3,818)		19,012		(6,379)
Corporate debt securities	(507)		8,497		(392)		3,130		(899)
Asset based securities	(178)		6,497		(564)		6,840		(742)
Mortgage-backed GSE residential/multifamily and non-GSE	(3,598)		52,260		(2,014)		16,107		(5,612)
Total securities available for sale	$	(6,963)	$	95,631	$	(8,070)	$	53,588	$	(15,033)

Securities Held to Maturity


State and municipal securities	(2,072)		8,153		(2,215)		7,211		(4,287)



Total securities held to maturity	$	(2,072)	$	8,153	$	(2,215)	$	7,211	$	(4,287)
Total securities	$	(9,035)	$	103,784	$	(10,285)	$	60,799	$	(19,320)

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

- Definition

Tabular disclosure of information about investment in debt security measured at amortized cost (held-to-maturity).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
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+ Details

BORROWINGS - Schedule of Debt (Details) - USD ($)	12 Months Ended
BORROWINGS - Schedule of Debt (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Short-term variable $25,000 line of credit with interest due quarterly at the WSJ Prime Rate, maturity August 2024.	$ (6,000)	$ (19,000)
Long-term debt	183,673,000
Total borrowings	183,673,000	117,295,000
Line of Credit
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity	25,000,000
Federal Home Loan Bank advances \| FHLB, maturity through 2024
Debt Instrument [Line Items]
Short-term Debt	$ 58,000,000	31,000,000
Federal Home Loan Bank advances \| FHLB, maturity through 2024 \| Minimum
Debt Instrument [Line Items]
Interest rate, stated percentage	0.31%
Federal Home Loan Bank advances \| FHLB, maturity through 2024 \| Maximum
Debt Instrument [Line Items]
Interest rate, stated percentage	5.57%
Federal Home Loan Bank advances \| FHLB, maturity through 2025
Debt Instrument [Line Items]
Short-term Debt	$ 12,000,000	0
Interest rate, stated percentage	5.51%
Federal Funds Repaid in January 2024
Debt Instrument [Line Items]
Short-term Debt	$ 10,000,000	0
Interest rate, stated percentage	8.00%
Federal Reserve Bank Advances
Debt Instrument [Line Items]
Short-term Debt	$ 10,000,000	0
Interest rate, stated percentage	5.50%
Bank Term Funding Program From Federal Reserve Bank Due December 2024
Debt Instrument [Line Items]
Short-term Debt	$ 7,000,000	0
Interest rate, stated percentage	4.97%
Subordinated Notes due February 2032
Debt Instrument [Line Items]
Interest rate, stated percentage	3.50%
Subordinated Notes due February 2032 \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Long-term debt	$ 47,318,000	47,097,000
Basis spread on variable rate	2.05%
Subordinated Notes due October 2032
Debt Instrument [Line Items]
Interest rate, stated percentage	7.00%
Subordinated Notes due October 2032 \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Long-term debt	$ 39,361,000	$ 39,217,000
Basis spread on variable rate	3.06%

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
OPERATING ACTIVITIES
Net income	$ 31,952	$ 27,071
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and software amortization	1,168	1,252
Net (gain) loss on securities	(555)	632
Net amortization of securities	592	905
Amortization of core deposit intangible	327	274
Provision for credit losses	6,090	5,605
Deferred income taxes	(2,939)	(2,696)
Net loss on sale of foreclosed assets	20	0
Loss on sale of premises, equipment and software	0	1,047
Stock-based compensation	870	912
Net decrease in loans held for sale	597	1,353
Income from bank owned life insurance	(698)	(624)
Increase in interest receivable	(1,748)	(2,793)
Increase in interest payable	935	452
Net other operating activities	2,743	5,476
Net cash provided by operating activities	39,354	38,866
INVESTING ACTIVITIES
Purchase of securities available for sale	(49,675)	(51,797)
Proceeds from sale of securities available for sale	10,532	0
Proceeds from sale of other equity securities	800	4,311
Proceeds from maturities, calls, and paydowns of securities available for sale	18,698	9,599
Net purchase of restricted equity securities	(2,550)	(534)
Purchase of annuities	0	(2,622)
Purchase of bank owned life insurance	0	(7,021)
Net increase in loans	(296,739)	(337,157)
Proceeds from sale of foreclosed assets	403	0
Proceeds from bank owned life insurance	0	660
Purchase of premises, equipment and software	(249)	(2,600)
Net cash used in investing activities	(318,780)	(387,161)
FINANCING ACTIVITIES
Net increase in deposits	297,446	164,292
Proceeds from issuance of common stock	1,563	222
Proceeds from issuance of restricted stock units	363	0
Repurchase of common stock	(979)	(7,358)
Net proceeds of FHLB advances	39,000	5,050
Net proceeds of note payable	27,013
Net repayment of note payable		(12,517)
Net proceeds from subordinated notes	365	86,314
Common stock dividends paid	(3,193)	(3,165)
Net cash provided by financing activities	361,578	232,838
Net increase (decrease) in cash and cash equivalents	82,152	(115,457)
Cash and cash equivalents at beginning of year	168,499	283,956
Cash and cash equivalents at end of year	250,651	168,499
Cash paid during the year for:
Interest	51,213	11,060
Income taxes	12,956	9,516
NONCASH TRANSACTIONS
Transfers of loans to foreclosed assets	43	0
Internally financed sales of foreclosed assets	$ 2,517	$ 0

PARENT COMPANY FINANCIAL INFORMATION - Schedule of Condensed Cash Flow Statement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
OPERATING ACTIVITIES
Net income	$ 31,952	$ 27,071
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Stock-based compensation	870	912
(Decrease) increase in accrued interest payable	935	452
Net other operating (expenses) income	2,743	5,476
Net cash provided by operating activities	39,354	38,866
INVESTING ACTIVITIES
Net cash used in investing activities	(318,780)	(387,161)
FINANCING ACTIVITIES
Net proceeds of subordinated notes	365	86,314
Issuance of common stock	1,563	222
Proceeds from issuance of restricted stock units	363	0
Purchase of common stock	(979)	(7,358)
Common stock dividends paid	(3,193)	(3,165)
Net cash provided by financing activities	361,578	232,838
Net increase (decrease) in cash and cash equivalents	82,152	(115,457)
Cash and cash equivalents at beginning of year	168,499	283,956
Cash and cash equivalents at end of year	250,651	168,499
Company
OPERATING ACTIVITIES
Net income	31,952	27,071
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Equity in undistributed earnings of subsidiary	(33,706)	(27,514)
Stock-based compensation	870	912
(Decrease) increase in accrued interest payable	(3)	3
Net other operating (expenses) income	(589)	275
Net cash provided by operating activities	(1,476)	747
INVESTING ACTIVITIES
Investment in equity securities	(1,094)	(237)
Net cash used in investing activities	(1,094)	(237)
FINANCING ACTIVITIES
Net proceeds of note payable	13
Net repayment of note payable		(12,517)
Net proceeds of subordinated notes	365	86,314
Issuance of common stock	1,563	222
Proceeds from issuance of restricted stock units	363	0
Capital contribution to subsidiary	0	(45,000)
Common stock dividends paid	(3,193)	(3,165)
Net cash provided by financing activities	(1,868)	18,496
Net increase (decrease) in cash and cash equivalents	(4,438)	19,006
Cash and cash equivalents at beginning of year	19,405	399
Cash and cash equivalents at end of year	$ 14,967	$ 19,405

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

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 and the vesting of restricted stock units, 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 and restricted stock units.


	For the Years Ended
	2023		2022
Basic Earnings Per Share:
Net Income	$	31,952	$	27,071
Weighted average common shares outstanding	8,809,590		8,774,860
Basic earnings per share	$	3.63	$	3.08
Diluted Earnings Per Share:
Net income allocated to common shareholders	$	31,938	$	27,053
Weighted average common shares outstanding	8,809,590		8,774,860
Net dilutive effect of:
Assumed exercises of stock options and vesting of restricted stock units	228,564		174,809
Average shares and dilutive potential common shares	9,038,154		8,949,669
Dilutive earnings per share	$	3.53	$	3.02

FAIR VALUE OF ASSETS AND LIABILITIES

12 Months Ended

Dec. 31, 2023

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.

Fair Value Hierarchy (Continued)

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.

FHLB Advances: The fair value of FHLB advances is based on discounted contractual cash flows using interest rates currently being offered for borrowings of similar maturities.

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 December 31, 2023 and 2022 is as follows:

Assets Measured at Fair Value on a Recurring 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, 2023
U.S. Treasury securities	$	8,772	$	—	$	8,772	$	—
U.S. Government Sponsored Enterprises (GSEs)	2,268		—		2,268		—
State and municipal securities	41,069		—		41,069		—
Corporate debt securities	11,259		—		11,259		—
Asset based securities	18,687		—		18,687		—
Mortgage-backed GSE residential/multifamily and non-GSE	96,945		—		96,945		—
Other equity securities	3,649		3,649		—		—
Interest Rate Products - asset	7,691		—		7,691		—
Interest Rate Products - liabilities	(7,726)		—		(7,726)		—

December 31, 2022
U.S. Treasury securities	$	8,584	$	—	$	8,584	$	—
U.S. Government Sponsored Enterprises (GSEs)	1,788		—		1,788		—
State and municipal securities	49,925		—		49,925		—
Corporate debt securities	11,627		—		11,627		—
Asset based securities	13,337		—		13,337		—
Mortgage-backed GSE residential/multifamily and non-GSE	70,283		—		70,283		—
Other equity securities	4,444		3,674		—		770
Interest Rate Products - asset	8,870		—		8,870		—
Interest Rate Products - liabilities	(8,882)		—		(8,882)		—

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 December 31, 2023 and 2022:


	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, 2023
Individually analyzed loans	$	3,095	$	—	$	—	$	3,095
Foreclosed assets	33		—		—		33
Totals	$	3,128	$	—	$	—	$	3,128

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


	Fair Value		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2022
Impaired loans	$	1,020	$	—	$	—	$	1,020
Foreclosed assets	2,930		—		—		2,930
Totals	$	3,950	$	—	$	—	$	3,950

Individually Analyzed Loans

Loans considered individually analyzed under ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, 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. Individually analyzed 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. As of December 31, 2022 under the incurred methodology ASC 310-10-35, Receivables, these loans were known as impaired loans.

The fair value of individually analyzed loans are primarily measured based on the value of the collateral securing these loans. Impaired loans are typically 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 determines the value of the 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 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.

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 table below includes a rollforward of the balance sheet amounts for the year ended December 31, 2023 and 2022 (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,
	2023		2022

Carrying value, beginning of period	$	770	$	4,247
Purchases	—		—
Reinvestments	13		150
Redemptions	(800)		(3,306)
Net realized gains	17		(321)
Carrying value, end of period	$	—	$	770

For Level 3 assets measured at fair value on a recurring basis as of December 31, 2023, 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

For Level 3 assets measured at fair value on a recurring basis as of December 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

Recurring:

Other equity securities

770

Discounted cash flow

Discount rate (%)

N/A

For Level 3 assets measured at fair value on a nonrecurring basis as of December 31, 2023, 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:

Individually analyzed loans

3,095

Appraisal

Appraisal discounts (%)

15-20%

Foreclosed assets

Appraisal

Appraisal discounts (%)

10-15%

For Level 3 assets measured at fair value on a nonrecurring basis as of December 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

1,020

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:


	December 31, 2023
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	250,651	$	250,651	$	—	$	—
Securities available for sale	179,000		—		179,000		—
Other equity securities	3,649		3,649		—		—
Loans held for sale	450		—		450		—
Trading assets	7,691		—		7,691		—
Loans, net	1,860,130		—		1,824,800		3,095
Bank owned life insurance	29,884		—		29,884		—
Annuities	15,036		—		15,036		—

Accrued interest receivable	8,711		—		8,711		—
Restricted equity securities	5,684		—		—		5,684

Financial liabilities:
Deposits	$	2,018,189	$	—	$	2,016,506	$	—
Trading liabilities	7,726		—		7,726		—
FHLB advances	70,000		—		70,029		—
Other borrowings	26,994		—		26,994		—
Subordinated notes	86,679		—		86,679		—
Accrued interest payable	1,519		—		1,519		—

Fair Value of Financial Instruments (Continued)


	December 31, 2022
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	168,499	$	168,499	$	—	$	—
Securities available for sale	155,544		—		155,544		—
Other equity securities	4,444		3,674		—		770
Loans held for sale	1,047		—		1,047		—
Trading assets	8,870		—		8,870		—
Loans, net	1,567,008		—		1,529,646		1,020
Bank owned life insurance	29,186		—		29,186		—
Annuities	15,478		—		15,478		—

Accrued interest receivable	6,963		—		6,963		—
Restricted equity securities	3,134		—		—		3,134

Financial liabilities:
Deposits	$	1,720,743	$	—	$	1,714,249	$	—
Trading liabilities	8,882		—		8,882		—
FHLB advances	31,000		—		30,788		—
Other borrowings	(19)		—		(19)		—
Subordinated notes	86,314		—		86,314		—
Accrued interest payable	584		—		584		—

- 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

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Share


	For the Years Ended
	2023		2022
Basic Earnings Per Share:
Net Income	$	31,952	$	27,071
Weighted average common shares outstanding	8,809,590		8,774,860
Basic earnings per share	$	3.63	$	3.08
Diluted Earnings Per Share:
Net income allocated to common shareholders	$	31,938	$	27,053
Weighted average common shares outstanding	8,809,590		8,774,860
Net dilutive effect of:
Assumed exercises of stock options and vesting of restricted stock units	228,564		174,809
Average shares and dilutive potential common shares	9,038,154		8,949,669
Dilutive earnings per share	$	3.53	$	3.02

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Fair Values of Derivative Instruments on the Balance Sheet (Details) - Interest Rate Products - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Other Assets
Notional Amount	$ 104,180	$ 73,631
Fair Value	7,691	8,870
Other Liabilities
Notional Amount	104,180	73,361
Fair Value	$ (7,726)	$ (8,882)

- Definition

Nominal or face amount used to calculate payments on the derivative asset.

+ References + Details

- Definition

Nominal or face amount used to calculate payments on the derivative liability.

+ References + Details

FAIR VALUE OF ASSETS AND LIABILITIES - Schedule of Fair Value Measurement Inputs and Valuation Techniques (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other equity securities, at fair value	$ 3,649	$ 4,444
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other equity securities, at fair value	0	770
Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	3,128	3,950
Fair Value, Nonrecurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	3,128	3,950
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other equity securities, at fair value	3,649	4,444
Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other equity securities, at fair value	$ 0	$ 770
Individually analyzed loans \| Minimum \| Measurement Input, Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted Average of Input	0.15
Individually analyzed loans \| Maximum \| Measurement Input, Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted Average of Input	0.20
Individually analyzed loans \| Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	$ 3,095
Individually analyzed loans \| Fair Value, Nonrecurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	$ 3,095
Foreclosed assets \| Minimum \| Measurement Input, Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted Average of Input	0.10	0.10
Foreclosed assets \| Maximum \| Measurement Input, Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted Average of Input	0.15	0.15
Foreclosed assets \| Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	$ 33	$ 2,930
Foreclosed assets \| Fair Value, Nonrecurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	$ 33	$ 2,930
Impaired loans \| Minimum \| Measurement Input, Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted Average of Input		0.15
Impaired loans \| Maximum \| Measurement Input, Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted Average of Input		0.20
Impaired loans \| Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount		$ 1,020
Impaired loans \| Fair Value, Nonrecurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount		$ 1,020

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense

Income tax expense consists of the following:


	Years Ended December 31,
	2023		2022

Current	$	12,007	$	10,421
Deferred	(2,939)		(2,696)
Income tax expense	$	9,068	$	7,725

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the differences as of December 31, 2023 and 2022 is as follows:


	Years Ended December 31,
	2023		2022

Income tax expense at federal statutory rate	$	8,614	$	7,307
State income tax	1,530		1,268
Tax exempt income	(80)		(253)

Investment tax credit	(675)		(675)
Other	(321)		78
Income tax expense	$	9,068	$	7,725

Schedule of Deferred Tax Assets and Liabilities

The components of deferred income taxes are as follows:


	December 31,
	2023		2022

Deferred income tax assets:
Funded credit loss reserves	$	6,371	$	5,268
Unfunded credit loss reserves	324		—

Deferred compensation	1,445		1,269
Intangible assets created from asset purchase	22		28
Loans purchased at a premium	18		34
Restricted stock	317		248
Deferred origination fees	1,612		1,348
Net loss on fair market adjustments	7		130
Employee retention credit	1,016		—
Unrealized loss on securities available for sale	2,944		3,882
Other	36		—
	14,112		12,207
Deferred income tax liabilities:
Loans purchased at a discount	90		96
Depreciation	174		239
Intangible assets created from stock purchase	235		321
Investment tax credit	230		142
Other	—		27

	729		825

Net deferred income tax asset	$	13,383	$	11,382

DEPOSITS

12 Months Ended

Dec. 31, 2023

Banking and Thrift, Interest [Abstract]

DEPOSITS

Major classifications of deposits are as follows:


	December 31,
	2023		2022
Noninterest-bearing transaction	$	437,959	$	460,977
Interest-bearing transaction	946,347		837,127
Savings	35,412		49,235
Time deposits, $250,000 and under	500,406		307,145
Time deposits, over $250,000	98,065		66,259
Total	$	2,018,189	$	1,720,743

Brokered deposits totaled $230,858 at December 31, 2023 and $110,503 at December 31, 2022. The scheduled maturities of time deposits at December 31, 2023 are as follows:


2024	$	488,408
2025	61,911
2026	28,438
2027	11,322
2028	8,365
Thereafter	27
Total	$	598,471

At December 31, 2023 and 2022, overdrawn transaction accounts reclassified to loans totaled $174 and $137, respectively.

COMMITMENTS AND CONTINGENCIES - Schedule of Loan Commitments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Guarantor Obligations [Line Items]
Exposure to credit loss	$ 504,781	$ 555,947
Commitments to extend credit
Guarantor Obligations [Line Items]
Exposure to credit loss	501,935	550,315
Standby letters of credit
Guarantor Obligations [Line Items]
Exposure to credit loss	$ 2,846	$ 5,632

EMPLOYEE AND DIRECTOR BENEFITS (Tables)

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

Schedule of Option Activity

Pertinent information related to the options is as follows:


	Number	Weighted Average Exercise Price
Year Ended December 31, 2023
Options outstanding, beginning of year	518,259	$	15.72
Granted	27,839	29.73
Exercised	(180,141)	13.07
Forfeited	(40,242)	21.61
Options outstanding, end of year	325,715	$	17.65
Weighted average remaining contractual life		5.32 years

Exercisable, end of year	269,045	$	16.39

Year Ended December 31, 2022
Options outstanding, beginning of year	501,492	$	15.37
Granted	32,067	20.61
Exercised	(15,300)	14.43
Forfeited	—	—
Options outstanding, end of year	518,259	$	15.72
Weighted average remaining contractual life		5.72 years

Exercisable, end of year	405,125	$	14.66

Schedule of Exercisable Options

Exercisable options at December 31, 2023 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	35,000	$	10.00	2.06	$	675
14.00		17,000	14.00		3.30	260
14.00		7,500	14.00		3.63	115
14.00		5,000	14.00		3.97	76
14.50		37,500	14.50		4.06	554
14.50		8,000	14.50		4.92	118
16.00		49,377	16.00		5.11	656
22.75		12,000	22.75		5.80	78
20.10		43,316	20.10		6.07	398
20.10		19,378	20.10		6.12	178
14.98		6,000	14.98		6.77	86
18.34		6,000	18.34		6.98	66
20.03		14,956	20.03		7.12	138
20.61		8,018	20.61		8.12	70
		269,045	$	16.39	4.92	$	3,467

Schedule of Weighted Average Assumptions

The following weighted average assumptions were used in the calculations for 2023 and 2022 as follows:


	December 31,
	2023		2022
Dividend yield	1.22%		1.75%
Weighted average volatility	76.02%		77.33%
Expected life in years	6.57 years		6.50 years
Risk-free interest rate	3.92%		1.93%
Weighted average grant-date fair value	$	19.14	$	12.47

Schedule of Nonvested Restricted Stock

Nonvested restricted stock consists of the following:


	Number	Weighted Average Grant Date Fair Value
Year Ended December 31, 2023
Nonvested, beginning of year	39,295	$	20.05
Granted	23,534	29.02
Forfeited	(7,135)	24.78
Vested	(24,949)	21.71
Nonvested, end of year	30,745	$	24.47

Year Ended December 31, 2022
Nonvested, beginning of year	39,314	$	19.50
Granted	24,265	20.61
Forfeited	—	—
Vested	(24,284)	19.71
Nonvested, end of year	39,295	$	20.05

Nonvested restricted stock units consists of the following:


	Number	Weighted Average Grant Date Fair Value
Year Ended December 31, 2023
Nonvested, beginning of year	71,429	$	28.52
Granted	—	—
Vested	(31,478)	28.52
Forfeited	(12,711)	28.52
Nonvested, end of year	27,240	$	28.52

Year Ended December 31, 2022
Nonvested, beginning of year	—	$	—
Granted	107,144	28.52
Vested	(35,715)	28.52
Nonvested, end of year	71,429	$	28.52

LOANS - Schedule of Aging Analysis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	$ 1,890,677	$ 1,592,707
Nonaccrual with ACL	347	674
Nonaccrual without ACL	670	1,570
Nonaccrual loans interest income	62	100
Real Estate
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income		1,328,499
Real Estate \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	242,960	255,736
Nonaccrual with ACL	0	0
Nonaccrual without ACL	0	67
Real Estate \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	224,603	167,891
Nonaccrual with ACL	23	30
Nonaccrual without ACL	228	534
Real Estate \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,144,867	904,872
Nonaccrual with ACL	324	351
Nonaccrual without ACL	442	927
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	269,961	256,553
Nonaccrual with ACL	0	277
Nonaccrual without ACL	0	35
Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	8,286	7,655
Nonaccrual with ACL	0	16
Nonaccrual without ACL	0	7
Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,883,954	1,585,972
Current \| Real Estate \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	242,315	255,575
Current \| Real Estate \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	223,195	167,108
Current \| Real Estate \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,140,587	900,895
Current \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	269,598	254,824
Current \| Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	8,259	7,570
Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	5,706	4,491
Total Past Due \| Real Estate \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	645	94
Total Past Due \| Real Estate \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,157	219
Total Past Due \| Real Estate \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	3,514	2,699
Total Past Due \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	363	1,417
Total Past Due \| Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	27	62
30-59 Days
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	5,224	4,222
30-59 Days \| Real Estate \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	591	0
30-59 Days \| Real Estate \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,106	147
30-59 Days \| Real Estate \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	3,245	2,634
30-59 Days \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	265	1,379
30-59 Days \| Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	17	62
60-89 Days
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	322	269
60-89 Days \| Real Estate \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	54	94
60-89 Days \| Real Estate \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	72
60-89 Days \| Real Estate \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	160	65
60-89 Days \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	98	38
60-89 Days \| Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	10	0
90+ Days
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	160	0
90+ Days \| Real Estate \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0
90+ Days \| Real Estate \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	51	0
90+ Days \| Real Estate \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	109	0
90+ Days \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0
90+ Days \| Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	$ 0	$ 0

BORROWINGS - Schedule of Maturities of Long-term Debt (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Debt Disclosure [Abstract]
2024	$ 84,994
2025	12,000
2026	0
2027	0
2028	0
Thereafter	86,679
Total	$ 183,673

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	Mauldin & Jenkins, LLC
Auditor Firm ID	669
Auditor Location	Birmingham, Alabama

BORROWINGS

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

BORROWINGS

Borrowings consist of the following:


	December 31,
	2023		2022
Short-term variable $25,000 line of credit with interest due quarterly at the WSJ Prime Rate, maturity August 2024.	$	(6)	$	(19)

Short-term fixed rate Federal Home Loan Bank advances with interest and principal payments due at various maturity dates through 2024 and interest rates ranging from 0.31% to 5.57%.	58,000		31,000

Short-term fixed rate federal funds with principal and interest due January 2024 at a fixed interest rate of 8.0%.	10,000		—

Short-term Federal Reserve Bank discount window advance with principal and interest due February 2024 at a fixed interest rate of 5.5%.	10,000		—

Short-term Bank Term Funding Program from the Federal Reserve Bank advance with principal and interest due December 2024 at a fixed interest rate of 4.97%.	7,000		—

Short-term fixed rate Federal Home Loan Bank advances with interest and principal payments due at various maturity dates through 2025 and interest rate of 5.51%.	12,000		—

Subordinated notes with interest due quarterly at an initial fixed rate of 3.5% until February 7, 2027, then will reset quarterly to a Three-Month Term Secured Overnight Financing Rate plus 205 basis points through maturity on February 7, 2032.	47,318		47,097

Subordinated notes with interest due quarterly at an initial fixed rate of 7.0% until October 26, 2027, then will reset quarterly to a Three-Month Term Secured Overnight Financing Rate plus 306 basis points through maturity on October 26, 2032.	39,361		39,217
	$	183,673	$	117,295

Contractual maturities of other borrowings as of December 31, 2023 are as follows:


2024	$	84,994
2025	12,000
2026	—
2027	—
2028	—
Thereafter	86,679
Total	$	183,673

The short-term variable $25,000 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 $185,449, residential mortgages of $41,751, and on qualifying home equity lines of credit of $5,476. At December 31, 2023, the Company had $70,000 in outstanding advances and approximately $162,676 was available for borrowing on lines with the FHLB.

At December 31, 2023, 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. Under these arrangements, the Company had $89,200 available as of December 31, 2023. The Company had $10,000 and $0 outstanding as of December 31, 2023 and 2022, respectively.

The Company has the ability to borrow funds from the Federal Reserve Bank utilizing the discount window, as an instrument that allows institutions to borrow money on a short-term basis to meet temporary liquidity shortages. The Company had borrowing capacity under this arrangement of $295,676 as of December 31, 2023 and had $10,000 outstanding as of December 31, 2023. There was $285,676 available as of December 31, 2023.

On March 12, 2023, the Federal Reserve Bank, Department of Treasury and the FDIC issued a joint statement outlining actions taken to protect the U.S. economy by strengthening public confidence in the banking system as a result of and in response to recently announced bank closures. Among other actions, the Federal Reserve Board announced that it would make available additional funding to eligible depository institutions through the creation of a new BTFP. The BTFP provides eligible depository institutions an additional source of liquidity. Borrowings are funded based on a percentage of the principal of eligible collateral posted, as defined within the terms of the program. Interest is payable at a fixed rate over the term of the borrowing and there are no prepayment penalties. The Company had borrowing capacity under this arrangement of $11,265 as of December 31, 2023 and had $7,000 outstanding as of December 31, 2023. There was $4,265 available as of December 31, 2023. On January 24, 2024, the Federal Reserve Board announced that the BTFP will cease on March 11, 2024.

Subordinated 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 $1,093 and have been netted against the subordinated notes liability on the balance sheet. At December 31, 2023, the remaining balance of the debt issuance cost was $682. The debt issuance costs are being amortized using the straight line method over sixty months and are recorded as a component of interest expense.

On October 26, 2022, the Company issued $40,000 of Fixed-to-Floating Rate Subordinated Notes due October 2032 (the “2032 Notes”). The 2032 Notes bear interest at 7.0% per annum, payable quarterly in arrears. From and including October 26, 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 306 basis points, payable quarterly in arrears. The Company will be entitled to redeem the 2032 Notes, in whole or in part, on any interest payment on or after October 26, 2027, and to redeem the 2032 Notes in whole upon certain other events. Issuance costs related to the 2032 Notes totaled $832 and have been netted against the subordinated notes liability on the balance sheet. At December 31, 2023, the remaining balance of the debt issuance cost was $639. The debt issuance costs are being amortized using the straight line method over sixty months and are recorded as a component of interest expense.

- 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://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

EMPLOYEE AND DIRECTOR BENEFITS - Schedule of Option Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Number
Options outstanding, beginning of year (in shares)	518,259	501,492
Granted (in shares)	27,839	32,067
Exercised (in shares)	(180,141)	(15,300)
Forfeited (in shares)	(40,242)	0
Options outstanding, end of year (in shares)	325,715	518,259
Exercisable, end of year (in shares)	269,045	405,125
Weighted Average Exercise Price
Weighted average exercise price, beginning balance (in dollars per share)	$ 15.72	$ 15.37
Granted weighted average exercise price (in dollars per share)	29.73	20.61
Exercised weighted average exercise price per share (in dollars per share)	13.07	14.43
Forfeited weighted average exercise price per share (in dollars per share)	21.61	0
Weighted average exercise price, Ending balance (in dollars per share)	$ 17.65	$ 15.72
Weighted average remaining contractual life	5 years 3 months 25 days	5 years 8 months 19 days
Exercisable end of year weighted average exercise price (in dollars per share)	$ 16.39	$ 14.66

PREMISES AND EQUIPMENT - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 37,132	$ 36,973
Accumulated depreciation	(10,706)	(9,628)
Total premises and equipment	26,426	27,345
Land and land improvements
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	8,720	8,720
Building
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	23,120	23,090
Furniture and equipment
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 5,292	$ 5,163

RELATED PARTY TRANSACTIONS - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Deposits	$ 2,018,189	$ 1,720,743
Directors and Executive Officers
Related Party Transaction [Line Items]
Deposits	$ 11,446	$ 10,586

CONCENTRATIONS OF CREDIT (Details) $ in Thousands	12 Months Ended
CONCENTRATIONS OF CREDIT (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Concentration Risk [Line Items]
Commitments to expend in excess of capital, secured basis, percentage	20.00%
Commitments to expend in excess of capital, secured basis	$ 59,684
Commitments to expend in excess of capital, unsecured basis, percentage	10.00%
Commitments to expend in excess of capital, unsecured basis	$ 29,842
Real estate mortgages \| Financing Receivable \| Loan Portfolio Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	85.00%

REGULATORY MATTERS

12 Months Ended

Dec. 31, 2023

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 December 31, 2023, approximately $71,277 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 and state 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.

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 a capital conservation buffer, which requires it to maintain common equity Tier 1 capital of 2.50% above minimum requirements for the common equity Tier 1 ratio, Tier 1 risk-based ratio and total risk-based ratio to avoid limitations on distributions and discretionary bonus payments. The capital conservation buffer is included in the minimum capital requirements in the following tables. Management believes, as of December 31, 2023 and December 31, 2022, that the Bank met all capital adequacy requirements to which it is subject.

As of December 31, 2023, 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 $3,000,000 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 2.50% capital conservation buffer.

The Bank is also subject to capital requirements under the FDIC’s prompt corrective action regime. As of December 31, 2023, the Bank was well capitalized under the regulatory framework for prompt corrective action.

Community Bank Leverage Ratio Framework

As part of the directive under the Economic Growth Act, in September 2019, the FDIC and other federal bank regulatory agencies approved the Community Bank Leverage Ratio (“CBLR”) framework. This optional framework became effective January 1, 2020, and is available to the Company and the Bank as an alternative to the Basel III risk-based capital framework. The CBLR framework provides for a simple measure of capital adequacy for certain community banking organizations. Specifically, depository institutions and depository institution holding companies that have less than $10,000,000 in total consolidated assets and meet other qualifying criteria, including a Tier 1 leverage ratio of greater than 9.00%, are considered qualifying community banking organizations and are eligible to opt into the CBLR framework, and replace the applicable Basel III risk-based capital requirements. As of December 31, 2023, the Company and the Bank qualify for the CBLR framework. Management does not intend to utilize the CBLR framework.


	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, 2023

Tier 1 capital (to average assets)
Company	$	205,582	8.99	%	$	91,503	4.00	%	$	—	—
Bank	$	274,850	12.01	%	$	91,503	4.00	%	$	114,379	5.00	%

CET 1 capital (to risk-weighted assets)
Company	$	205,582	9.20	%	$	156,378	7.00	%	$	—	—
Bank	$	274,850	12.30	%	$	156,378	7.00	%	$	145,209	6.50	%

Tier 1 capital (to risk-weighted assets)
Company	$	205,582	9.20	%	$	189,888	8.50	%	$	—	—
Bank	$	274,850	12.30	%	$	189,888	8.50	%	$	178,718	8.00	%

Total capital (to risk-weighted assets)
Company	$	319,199	14.29	%	$	234,568	10.50	%	$	—	—
Bank	$	300,467	13.45	%	$	234,568	10.50	%	$	223,398	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, 2022

Tier 1 capital (to average assets)
Company	$	174,679	8.82	%	$	79,182	4.00	%	$	—	—
Bank	$	240,815	12.17	%	$	79,182	4.00	%	$	98,977	5.00	%

CET 1 capital (to risk-weighted assets)
Company	$	174,679	8.86	%	$	138,018	7.00	%	$	—	—
Bank	$	240,815	12.21	%	$	138,018	7.00	%	$	128,160	6.50	%

Tier 1 capital (to risk-weighted assets)
Company	$	174,679	8.86	%	$	167,593	8.50	%	$	—	—
Bank	$	240,815	12.21	%	$	167,593	8.50	%	$	157,735	8.00	%

Total capital (to risk-weighted assets)
Company	$	282,835	14.34	%	$	207,027	10.50	%	$	—	—
Bank	$	260,971	13.24	%	$	207,027	10.50	%	$	197,169	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

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 31,952	$ 27,071
Other comprehensive income (loss):
Unrealized holding gains (losses) on securities available for sale arising during the period, net of (tax) benefit	2,660	(13,161)
Reclassification adjustment for losses on securities available for sale realized in net income, net of benefit (tax)	9	0
Other comprehensive income (loss)	2,669	(13,161)
Comprehensive income	$ 34,621	$ 13,910

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

LEASES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Rental expense	$ 254	$ 252

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Securities available for sale, amortized cost	$ 190,322	$ 170,474
Securities available for sale, allowance for credit losses	0	0
Securities held to maturity, fair value	16,233	15,365
Securities held to maturity, allowance for credit Loss	$ 0	$ 0
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock authorized (in shares)	2,000,000	2,000,000
Preferred stock outstanding (in shares)	0	0
Preferred stock issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 5	$ 5
Common stock authorized (in shares)	30,000,000	30,000,000
Common stock outstanding (in shares)	8,841,349	8,706,920
Common stock issued (in shares)	8,841,349	8,706,920

LOANS (Tables)

12 Months Ended

Dec. 31, 2023

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:


	December 31,
	2023			2022
	Amount		% of Total	Amount		% of Total
Real estate mortgages:
Construction and development	$	242,960	12.9%	$	255,736	16.1%
Residential	224,603		11.9%	167,891		10.5%
Commercial	1,144,867		60.5%	904,872		56.8%
Commercial and industrial	269,961		14.3%	256,553		16.1%
Consumer and other	8,286		0.4%	7,655		0.5%
Gross Loans	1,890,677		100.0%	1,592,707		100.0%
Deferred loan fees	(6,169)			(5,543)
Allowance for credit losses	(24,378)			(20,156)
Loans, net	$	1,860,130		$	1,567,008

Schedule of Financing Receivable Credit Quality Indicators

The following table summarizes the risk category of the Company’s loan portfolio based upon the most recent analysis on the year of origination as of December 31, 2023:


	2023		2022		2021		2020		2019		Prior		Revolving Loans		Total
Real Estate Mortgages:
Construction and development
Pass	$	48,141	$	139,291	$	39,679	$	1,721	$	1,969	$	5,214	$	2,516	$	238,531
Special Mention	—		—		—		—		—		4,429		—		4,429
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Total	48,141		139,291		39,679		1,721		1,969		9,643		2,516		242,960
Current period gross write-off	—		—		—		—		—		—		3		3

Residential
Pass	51,135		54,610		23,808		42,071		6,496		12,883		33,132		224,135
Special Mention	81		—		—		—		—		—		—		81
Substandard	—		118		—		—		153		62		54		387
Doubtful	—		—		—		—		—		—		—		—
Total	51,216		54,728		23,808		42,071		6,649		12,945		33,186		224,603
Current period gross write-off	—		—		—		—		—		—		—		—

Commercial
Pass	232,834		328,006		256,007		99,067		63,906		125,007		14,685		1,119,512
Special Mention	—		350		2,840		2,623		414		4,490		—		10,717
Substandard	660		432		7,811		—		—		5,735		—		14,638
Doubtful	—		—		—		—		—		—		—		—
Total	233,494		328,788		266,658		101,690		64,320		135,232		14,685		1,144,867
Current period gross write-off	—		—		—		—		—		—		—		—

Commercial and industrial
Pass	68,482		51,368		20,626		21,390		4,758		7,257		88,074		261,955
Special Mention	126		—		—		2,711		172		—		1,873		4,882
Substandard	—		1,210		20		—		219		—		1,675		3,124
Doubtful	—		—		—		—		—		—		—		—
Total	68,608		52,578		20,646		24,101		5,149		7,257		91,622		269,961
Current period gross write-off	424		51		167		44		—		—		—		686

Consumer and other
Pass	2,291		1,111		292		149		316		1,275		2,852		8,286
Special Mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Total	2,291		1,111		292		149		316		1,275		2,852		8,286
Current period gross write-off	—		6		2		—		—		—		—		8

Gross Loans
Pass	402,883		574,386		340,412		164,398		77,445		151,636		141,259		1,852,419
Special Mention	207		350		2,840		5,334		586		8,919		1,873		20,109
Substandard	660		1,760		7,831		—		372		5,797		1,729		18,149
Doubtful	—		—		—		—		—		—		—		—
Total	$	403,750	$	576,496	$	351,083	$	169,732	$	78,403	$	166,352	$	144,861	$	1,890,677
Current period gross write-off	$	424	$	57	$	169	$	44	$	—	$	—	$	3	$	697

The following table summarizes the risk category of the Company’s loan portfolio based upon the most recent analysis performed as of December 31, 2022, prior to the adoption of ASU 2016-13:


	Pass		Special Mention		Substandard		Doubtful		Total
As of December 31, 2022
Real estate mortgages:
Construction and development	$	251,130	$	4,539	$	67	$	—	$	255,736
Residential	165,388		1,787		716		—		167,891
Commercial	883,082		18,532		3,258		—		904,872
Commercial and industrial	247,948		8,322		283		—		256,553
Consumer and other	7,604		28		23		—		7,655
Total	$	1,555,152	$	33,208	$	4,347	$	—	$	1,592,707

The following table summarizes collateral dependent loans, which are individually evaluated to determine expected credit losses.


	Real Estate		Other		Total		ACL
As of December 31, 2023
Real estate mortgages:
Construction and development	$	210	$	—	$	210	$	31
Residential	980		—		980		72
Commercial	15,514		—		15,514		162
Commercial and industrial	—		3,131		3,131		1,100
Consumer and other	—		11		11		1
Total	$	16,704	$	3,142	$	19,846	$	1,366

Schedule of Aging Analysis

The following tables present the aging of the recorded investment in loans as of December 31, 2023 and December 31, 2022:


			Past Due Status (Accruing Loans)
	Current		30-59 Days		60-89 Days		90+ Days		Total Past Due		Nonaccrual with ACL		Nonaccrual without ACL		Total
As of December 31, 2023
Real estate mortgages:
Construction and development	$	242,315	$	591	$	54	$	—	$	645	$	—	$	—	$	242,960
Residential	223,195		1,106		—		51		1,157		23		228		224,603
Commercial	1,140,587		3,245		160		109		3,514		324		442		1,144,867
Commercial and industrial	269,598		265		98		—		363		—		—		269,961
Consumer and other	8,259		17		10		—		27		—		—		8,286
Total	$	1,883,954	$	5,224	$	322	$	160	$	5,706	$	347	$	670	$	1,890,677

As of December 31, 2022
Real estate mortgages:
Construction and development	$	255,575	$	—	$	94	$	—	$	94	$	—	$	67	$	255,736
Residential	167,108		147		72		—		219		30		534		167,891
Commercial	900,895		2,634		65		—		2,699		351		927		904,872
Commercial and industrial	254,824		1,379		38		—		1,417		277		35		256,553
Consumer and other	7,570		62		—		—		62		16		7		7,655
Total	$	1,585,972	$	4,222	$	269	$	—	$	4,491	$	674	$	1,570	$	1,592,707

Schedule of Allowance for Credit Loss

The following tables detail activity in the allowance for credit losses by portfolio segment as of December 31, 2023 and December 31, 2022. As described in Note 1, the Company adopted ASU 2016-13 on January 1, 2023, which replaced the existing incurred loss methodology with an expected credit loss methodology (referred to as CECL). Under the incurred loss methodology, reserves for credit losses were recognized only when the losses were probable or had been incurred; under CECL, the Company is required to recognize the full amount of expected credit losses for the lifetime of the loan, based on historical experience, current conditions and reasonable and supportable forecasts. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.

We maintain an allowance for credit losses on unfunded loan commitments and letters of credit to provide for the risk of loss inherent in these arrangements. The allowance for credit losses is computed using a methodology similar to that used to determine the allowance for credit losses for loans, modified to take into account the probability of a drawdown on the commitment. The allowance for credit losses on unfunded loan commitments is classified as a liability account on the consolidated balance sheet within other liabilities, while corresponding provision for these credit losses is recorded as a component of other operating expense. The allowance for credit losses on unfunded commitments as the result of the adoption of ASC 326 was $1,285. At December 31, 2023, $1,239 in allowance for credit losses on unfunded commitments was included in other liabilities on the consolidated balance sheets.

Allowance for Credit Losses (Continued)


	Real Estate		Commercial		Consumer		Total
Allowance for credit losses:
Balance at December 31, 2022	$	14,443	$	5,642	$	71	$	20,156
Impact of adoption of ASC 326	(1,164)		(120)		(1)		(1,285)
Provision (credit) for credit losses	6,509		(424)		5		6,090
Loans charged off	(3)		(686)		(8)		(697)
Recoveries of loans previously charged off	41		54		19		114
Ending balance at December 31, 2023	$	19,826	$	4,466	$	86	$	24,378

Allowance for Loans Losses - Incurred Loss Methodology


	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	2,912		2,750		(57)		5,605
Loans charged off	(73)		(479)		(26)		(578)
Recoveries of loans previously charged off	50		205		30		285
Ending balance at December 31, 2022	$	14,443	$	5,642	$	71	$	20,156

Ending balance - individually evaluated for impairment	$	258	$	248	$	8	$	514
Ending balance - collectively evaluated for impairment	14,148		5,394		63		19,605
Ending balance - loans acquired with deteriorated credit quality	37		—		—		37
Total ending balance at December 31, 2022	$	14,443	$	5,642	$	71	$	20,156

Loans:
Ending balance - individually evaluated for impairment	$	8,652	$	313	$	34	$	8,999
Ending balance - collectively evaluated for impairment	1,318,705		256,240		7,621		1,582,566
Ending balance - loans acquired with deteriorated credit quality	1,142		—		—		1,142
Total ending balance at December 31, 2022	$	1,328,499	$	256,553	$	7,655	$	1,592,707

Schedule of Impaired Loans

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

Impaired Loans - Incurred Loss Methodology (Continued)


	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
December 31, 2022
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	372	$	372	$	—	$	397	$	21
Residential	1,129		1,129		—		1,169		59
Commercial	7,323		7,323		—		7,282		622
Commercial and industrial	36		36		—		42		3
Consumer and other	18		18		—		24		1
Total with no related allowance recorded	8,878		8,878		—		8,914		$	706

With an allowance recorded:
Real estate mortgages:
Construction and development	92		92		39		95		$	6
Residential	255		326		90		265		12
Commercial	623		623		166		630		21
Commercial and industrial	277		277		248		298		14
Consumer and other	16		16		8		16		1
Total with an allowance recorded	1,263		1,334		551		1,304		54
Total impaired loans:	$	10,141	$	10,212	$	551	$	10,218	$	760

Schedule of Troubled Debt Restructuring

The table below details the amortized cost basis at the end of the reporting period for loans made to borrowers experiencing financial difficulty that were modified during the year ended December 31, 2023.

Modifications to Borrowers Experiencing Financial Difficulty (Continued)


	Term Extension		Term Extension and Rate Adjustment		Total		Percentage of Total Loans
Real estate mortgages:
Construction and development	$	89	$	117	$	206	—	%
Residential	—		—		—		—	%
Commercial	—		—		—		—	%
Commercial and industrial	—		—		—		—	%
Consumer and other	—		—		—		—	%
Total	$	89	$	117	$	206	—	%

The following table summarizes the loans that were modified as a TDR during the year ended December 31, 2022.

Troubled Debt Restructurings (Continued)


	Troubled Debt Restructurings
		Recorded		Recorded
		Investment		Investment		Impact on the
	Number	Prior to		After		Allowance for
	of Loans	Modification		Modification		Loan Losses
December 31, 2022
Real estate mortgages:
Construction and development	—	$	—	$	—	$	—
Residential	2	170		164		—
Commercial	1	359		352		116
Commercial and industrial	1	11		11		—
Consumer and other	—	—		—		—
Total	4	$	540	$	527	$	116

INCOME TAXES

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

Income tax expense consists of the following:


	Years Ended December 31,
	2023		2022

Current	$	12,007	$	10,421
Deferred	(2,939)		(2,696)
Income tax expense	$	9,068	$	7,725

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, 2023 and 2022 is as follows:


	Years Ended December 31,
	2023		2022

Income tax expense at federal statutory rate	$	8,614	$	7,307
State income tax	1,530		1,268
Tax exempt income	(80)		(253)

Investment tax credit	(675)		(675)
Other	(321)		78
Income tax expense	$	9,068	$	7,725

The components of deferred income taxes are as follows:


	December 31,
	2023		2022

Deferred income tax assets:
Funded credit loss reserves	$	6,371	$	5,268
Unfunded credit loss reserves	324		—

Deferred compensation	1,445		1,269
Intangible assets created from asset purchase	22		28
Loans purchased at a premium	18		34
Restricted stock	317		248
Deferred origination fees	1,612		1,348
Net loss on fair market adjustments	7		130
Employee retention credit	1,016		—
Unrealized loss on securities available for sale	2,944		3,882
Other	36		—
	14,112		12,207
Deferred income tax liabilities:
Loans purchased at a discount	90		96
Depreciation	174		239
Intangible assets created from stock purchase	235		321
Investment tax credit	230		142
Other	—		27

	729		825

Net deferred income tax asset	$	13,383	$	11,382

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 2020.

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

LEASES - Schedule of Lease Cost (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
Operating lease right-of-use assets	$ 538
Operating lease liabilities	$ 545
Weighted average remaining operating lease term	3 years 10 months 24 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

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2023

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, and Roanoke, Alabama as well as Columbus, Carrollton, Dallas, and Newnan, Georgia. The Bank also has two loan production offices (LPO) 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 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.

Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for credit losses, the valuation of foreclosed assets, financial instruments, deferred taxes and investment 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 credit 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 December 31, 2023 and December 31, 2022.

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.

Management uses a systematic methodology to determine its allowance for credit losses for held to maturity debt securities. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis to present the net amount expected to be collected on the held to maturity portfolio. Management considers the effects of past events, current conditions, and reasonable and supportable forecasts on the collectability of the portfolio. The Company’s estimate of its allowance for credit losses involves a high degree of judgment; therefore, management’s process for determining expected credit losses may result in a range of expected credit losses. Management monitors the held to maturity portfolio to determine whether a valuation account would need to be recorded. As of December 31, 2023, the Company had $19,632 of held to maturity securities and no related valuation account.

For available for sale debt securities in an unrealized loss position, the Company will first assess whether (i) it intends to sell or (ii) it is more likely than not that it will be required to sell the debt security before recovery of its amortized cost basis. If either case is applicable, any previously recognized allowances are charged off and the debt security’s amortized cost is written down to fair value through income. If neither case is applicable, the debt security is evaluated to determine whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, the Company considers the extent to which fair value is less than amortized cost, any changes to the rating of the debt security by a rating agency and any adverse conditions specifically related to the debt security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the debt security are compared to the amortized cost basis of the debt security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount by which the fair value is less than the amortized cost basis. Any impairment that has not been recorded through allowance for credit losses is recognized in other comprehensive income (loss), net of tax. Adjustments to the allowance are reported in the income statement as a component of credit loss expense. Available for sale debt securities are charged off against the allowance or, in the absence of any allowance, written down through income when deemed uncollectible by the Company or when either of the aforementioned criteria regarding intent or requirement to sell is met.

The Company excludes the accrued interest receivable balance from the amortized cost basis in measuring expected credit losses on debt securities and does not record an allowance for credit losses on accrued interest receivable. The accrued interest receivable on securities was $1,147 and $1,106 at December 31, 2023 and December 31, 2022, respectively.

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 statement of income.

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 credit 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.

Allowance for Credit Losses

As described below under Recent Accounting Pronouncements, the Company adopted Accounting Standards Update (ASU) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (CECL) effective January 1, 2023.

The allowance for credit losses is based on the Company’s evaluation of the loan portfolios, past loan loss experience, current asset quality trends, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay (including the timing of future payment), the estimated value of any underlying collateral, composition of the loan portfolio, economic conditions, industry and peer bank loan quality indications and other pertinent factors, including regulatory recommendations. The process is inherently subjective and subject to significant change as it requires material estimates. The allowance is increased by a provision for credit losses, which is charged to expense, and reduced by charge offs, net of recoveries. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the allowance for credit losses. Such agencies may require the Company to recognize adjustments to the allowance based on their judgments about information available to them at the time of their examination.

Loans with similar risk characteristics are evaluated in pools and, depending on the nature of each identified pool, the Company utilizes a discounted cash flow, probability of default / loss given default, or remaining life method. The historical loss experience estimate by pool is then adjusted by forecast factors that are quantitatively related to the Company’s historical credit loss experience, such as national unemployment rates and gross domestic product. Losses are predicted over a period of time determined to be reasonable and supportable, and at the end of the reasonable and supportable period losses are reverted to long term historical averages. The reasonable and supportable period and reversion period are re-evaluated each quarter by the Company and are dependent on the current economic environment among other factors.

The estimated credit losses for each loan pool are then adjusted for changes in qualitative factors not inherently considered in the quantitative analyses. The qualitative adjustments either increase or decrease the quantitative model estimation. The Company considers factors that are relevant within the qualitative framework which include the following: changes in lending policies and quality of loan reviews, changes in nature and volume of loans, changes in volume and trends of problem loans, changes in concentration risk, trends in underlying collateral values, changes in competition, legal and regulatory environment and changes in economic conditions.

Allowance for Credit Losses (Continued)

Credit losses for loans that no longer share similar risk characteristics with the collectively evaluated pools are excluded from the collective evaluation and estimated on an individual basis. Specific allowances are estimated based on one of several methods, including the estimated fair value of the underlying collateral, observable market value of similar debt or the present value of expected cash flows.

The Company measures expected credit losses over the contractual term of a loan, adjusted for estimated prepayments. The contractual term excludes expected extensions, renewals and modifications unless there is a reasonable expectation that a loan modification will be executed. Credit losses are estimated on the amortized cost basis of loans. Accrued interest receivable on loans is excluded from the estimate of credit losses. The accrued interest receivable on loans was $7,377 and $5,720 at December 31, 2023 and December 31, 2022, respectively.

Off-Balance Sheet Credit Exposure

The Company also has off-balance sheet financial instruments, which include unfunded credit commitments and letters of credit. The Company minimizes these risks through underwriting guidelines and prudent risk management techniques. For off-balance sheet instruments, the allowance for credit losses is calculated in accordance with Topic 326, representing expected credit losses over the contractual period for which the Company is exposed to credit risk resulting from a contractual obligation to extend credit. No allowance is recognized if the Company has the unconditional right to cancel the obligation. The allowance is reported as a component of other liabilities within the consolidated balance sheets. Adjustments to the allowance for credit losses for unfunded commitments are reported in the income statement as a component of other operating expense. At December 31, 2023, $1,239 in allowance for credit losses has been recognized on off-balance sheet financial instruments.

Modifications to Borrowers Experiencing Financial Difficulty

The Company periodically provides modifications to borrowers experiencing financial difficulty. These modifications include either payment deferrals, term extensions, interest rate reductions, principal forgiveness or combinations of modification types. The determination of whether the borrower is experiencing financial difficulty is made on the date of the modification. When principal forgiveness is provided, the amount of principal forgiveness is charged off against the allowance for credit losses with a corresponding reduction in the amortized cost basis of the loan. A modified loan is tracked for at least 12 months following the modifications granted. The Company has no unfunded commitments to borrowers experiencing financial difficulty for which the Company has modified their loans as of December 31, 2023.

Troubled Debt Restructurings

Prior to the adoption of ASU 2016-13 and ASU 2022-02, 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

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

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 credit 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 December 31, 2023.

Goodwill is not amortized but is evaluated for impairment on a quarterly 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 2023. The qualitative factors considered in determining if fair value of the unit was less than the carrying amount were economic conditions related to 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 December 31, 2023 and based on that evaluation there was no impairment.

Accounting Policy for Derivative Instruments and Hedging Activities

Financial Accounting Standards Board (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.

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.

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, restricted stock units 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 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

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

On January 1, 2023, the Company adopted ASU 2022-02, “Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures”, this standard eliminated the previous accounting guidance for troubled debt restructurings and added additional disclosure requirements for gross charge offs by year of origination. It also prescribes guidance for reporting modifications of loans to borrowers experiencing financial difficulty. The Company adopted these standards as required on January 1, 2023 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet credit exposures.

In June 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The ASU introduces a new credit loss methodology, Current Expected Credit Losses (CECL), which requires earlier recognition of credit losses, while also providing additional transparency about credit risk. Since its original issuance in 2016, the FASB has issued several updates to the original ASU. The CECL methodology utilizes a lifetime “expected credit loss” measurement objective for the recognition of credit losses for loans, off-balance sheet credit exposures, and other receivables at the time the financial asset is originated or acquired. The expected credit losses are adjusted each period for changes in expected lifetime credit losses. The methodology replaces the multiple existing impairment methods in current GAAP, which generally require that a loss be incurred before it is recognized. For available for sale securities where fair value is less than cost, credit-related impairment, if any, is recognized through an allowance for credit losses and adjusted each period for changes in credit risk. The Company adopted ASU 2016-13 on January 1, 2023 with no material impact on the consolidated financial statements. The Company has not restated comparative information for 2022 and, therefore, the comparative information for 2022 is reported under the old methodology and is not comparable to the information presented for 2023.

EMPLOYEE AND DIRECTOR BENEFITS - Schedule of Exercisable Options (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Shares (in shares) \| shares	269,045
Weighted Average Exercise Price (in dollars per share)	$ 16.39
Weighted Average Remaining Contractual Term	4 years 11 months 1 day
Aggregate Intrinsic Value \| $	$ 3,467
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	35,000
Weighted Average Exercise Price (in dollars per share)	$ 10.00
Weighted Average Remaining Contractual Term	2 years 21 days
Aggregate Intrinsic Value \| $	$ 675
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	17,000
Weighted Average Exercise Price (in dollars per share)	$ 14.00
Weighted Average Remaining Contractual Term	3 years 3 months 18 days
Aggregate Intrinsic Value \| $	$ 260
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	7,500
Weighted Average Exercise Price (in dollars per share)	$ 14.00
Weighted Average Remaining Contractual Term	3 years 7 months 17 days
Aggregate Intrinsic Value \| $	$ 115
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	5,000
Weighted Average Exercise Price (in dollars per share)	$ 14.00
Weighted Average Remaining Contractual Term	3 years 11 months 19 days
Aggregate Intrinsic Value \| $	$ 76
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	37,500
Weighted Average Exercise Price (in dollars per share)	$ 14.50
Weighted Average Remaining Contractual Term	4 years 21 days
Aggregate Intrinsic Value \| $	$ 554
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	8,000
Weighted Average Exercise Price (in dollars per share)	$ 14.50
Weighted Average Remaining Contractual Term	4 years 11 months 1 day
Aggregate Intrinsic Value \| $	$ 118
Exercise Price 7
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share)	$ 16.00
Shares (in shares) \| shares	49,377
Weighted Average Exercise Price (in dollars per share)	$ 16.00
Weighted Average Remaining Contractual Term	5 years 1 month 9 days
Aggregate Intrinsic Value \| $	$ 656
Exercise Price 8
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share)	$ 22.75
Shares (in shares) \| shares	12,000
Weighted Average Exercise Price (in dollars per share)	$ 22.75
Weighted Average Remaining Contractual Term	5 years 9 months 18 days
Aggregate Intrinsic Value \| $	$ 78
Exercise Price 9
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share)	$ 20.10
Shares (in shares) \| shares	43,316
Weighted Average Exercise Price (in dollars per share)	$ 20.10
Weighted Average Remaining Contractual Term	6 years 25 days
Aggregate Intrinsic Value \| $	$ 398
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	19,378
Weighted Average Exercise Price (in dollars per share)	$ 20.10
Weighted Average Remaining Contractual Term	6 years 1 month 13 days
Aggregate Intrinsic Value \| $	$ 178
Exercise Price 11
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share)	$ 14.98
Shares (in shares) \| shares	6,000
Weighted Average Exercise Price (in dollars per share)	$ 14.98
Weighted Average Remaining Contractual Term	6 years 9 months 7 days
Aggregate Intrinsic Value \| $	$ 86
Exercise Price 12
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share)	$ 18.34
Shares (in shares) \| shares	6,000
Weighted Average Exercise Price (in dollars per share)	$ 18.34
Weighted Average Remaining Contractual Term	6 years 11 months 23 days
Aggregate Intrinsic Value \| $	$ 66
Exercise Price 13
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share)	$ 20.03
Shares (in shares) \| shares	14,956
Weighted Average Exercise Price (in dollars per share)	$ 20.03
Weighted Average Remaining Contractual Term	7 years 1 month 13 days
Aggregate Intrinsic Value \| $	$ 138
Exercise Price 14
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise Price (in dollars per share)	$ 20.61
Shares (in shares) \| shares	8,018
Weighted Average Exercise Price (in dollars per share)	$ 20.61
Weighted Average Remaining Contractual Term	8 years 1 month 13 days
Aggregate Intrinsic Value \| $	$ 70

LOANS - Schedule of Troubled Debt Restructuring (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) loan
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable troubled debt restructuring		$ 2,124
Number of loans \| loan		4
Recorded investment prior to modification		$ 540
Recorded investment after modification	$ 206	527
Impact on the allowance for loan losses		$ 116
Real Estate \| Construction and development
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of loans \| loan		0
Recorded investment prior to modification		$ 0
Recorded investment after modification	206	0
Impact on the allowance for loan losses		$ 0
Real Estate \| Residential
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of loans \| loan		2
Recorded investment prior to modification		$ 170
Recorded investment after modification	0	164
Impact on the allowance for loan losses		$ 0
Real Estate \| Commercial
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of loans \| loan		1
Recorded investment prior to modification		$ 359
Recorded investment after modification	0	352
Impact on the allowance for loan losses		$ 116
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of loans \| loan		1
Recorded investment prior to modification		$ 11
Recorded investment after modification	0	11
Impact on the allowance for loan losses		$ 0
Consumer and other
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of loans \| loan		0
Recorded investment prior to modification		$ 0
Recorded investment after modification	$ 0	0
Impact on the allowance for loan losses		0
Nonperforming Financial Instruments
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable troubled debt restructuring		1,292
Performing Financial Instruments
Financing Receivable, Allowance for Credit Loss [Line Items]
Financing receivable troubled debt restructuring		$ 832

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

12 Months Ended

Dec. 31, 2023

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

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, 2023 and December 31, 2022. As of December 31, 2023, the Company has posted cash collateral of $6,330. The amount of loss recognized in income on derivatives as a fair value adjustment and fee income, for the year ended December 31, 2023, were $24 and $715, respectively.


December 31, 2023						December 31, 2022
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	$	104,180	Other Assets	$	7,691	Interest Rate Products	$	73,631	Other Assets	$	8,870
Interest Rate Products	104,180		Other Liabilities	(7,726)		Interest Rate Products	73,361		Other Liabilities	(8,882)

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 December 31, 2023, 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 $7,864. If the Company had breached any of these provisions at December 31, 2023, it could have been required to settle its obligations under the agreements at their termination value of $7,864, less the required collateral of $6,330.

STOCKHOLDERS’ EQUITY	12 Months Ended
STOCKHOLDERS’ EQUITY	Dec. 31, 2023
Equity [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY As of December 31, 2023, the Company had 8,841,349 shares of common stock issued and outstanding and does not have any non-voting shares issued and outstanding. As of December 31, 2022, the Company had 8,706,920 shares of common stock issued and outstanding and does not have any non-voting shares issued and outstanding.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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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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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Subparagraph (SX 210.3-04)
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-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (i)
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2023

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 December 31, 2023 and 2022 is as follows:

Assets Measured at Fair Value on a Recurring 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, 2023
U.S. Treasury securities	$	8,772	$	—	$	8,772	$	—
U.S. Government Sponsored Enterprises (GSEs)	2,268		—		2,268		—
State and municipal securities	41,069		—		41,069		—
Corporate debt securities	11,259		—		11,259		—
Asset based securities	18,687		—		18,687		—
Mortgage-backed GSE residential/multifamily and non-GSE	96,945		—		96,945		—
Other equity securities	3,649		3,649		—		—
Interest Rate Products - asset	7,691		—		7,691		—
Interest Rate Products - liabilities	(7,726)		—		(7,726)		—

December 31, 2022
U.S. Treasury securities	$	8,584	$	—	$	8,584	$	—
U.S. Government Sponsored Enterprises (GSEs)	1,788		—		1,788		—
State and municipal securities	49,925		—		49,925		—
Corporate debt securities	11,627		—		11,627		—
Asset based securities	13,337		—		13,337		—
Mortgage-backed GSE residential/multifamily and non-GSE	70,283		—		70,283		—
Other equity securities	4,444		3,674		—		770
Interest Rate Products - asset	8,870		—		8,870		—
Interest Rate Products - liabilities	(8,882)		—		(8,882)		—

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


	December 31, 2023
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	250,651	$	250,651	$	—	$	—
Securities available for sale	179,000		—		179,000		—
Other equity securities	3,649		3,649		—		—
Loans held for sale	450		—		450		—
Trading assets	7,691		—		7,691		—
Loans, net	1,860,130		—		1,824,800		3,095
Bank owned life insurance	29,884		—		29,884		—
Annuities	15,036		—		15,036		—

Accrued interest receivable	8,711		—		8,711		—
Restricted equity securities	5,684		—		—		5,684

Financial liabilities:
Deposits	$	2,018,189	$	—	$	2,016,506	$	—
Trading liabilities	7,726		—		7,726		—
FHLB advances	70,000		—		70,029		—
Other borrowings	26,994		—		26,994		—
Subordinated notes	86,679		—		86,679		—
Accrued interest payable	1,519		—		1,519		—

Fair Value of Financial Instruments (Continued)


	December 31, 2022
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	168,499	$	168,499	$	—	$	—
Securities available for sale	155,544		—		155,544		—
Other equity securities	4,444		3,674		—		770
Loans held for sale	1,047		—		1,047		—
Trading assets	8,870		—		8,870		—
Loans, net	1,567,008		—		1,529,646		1,020
Bank owned life insurance	29,186		—		29,186		—
Annuities	15,478		—		15,478		—

Accrued interest receivable	6,963		—		6,963		—
Restricted equity securities	3,134		—		—		3,134

Financial liabilities:
Deposits	$	1,720,743	$	—	$	1,714,249	$	—
Trading liabilities	8,882		—		8,882		—
FHLB advances	31,000		—		30,788		—
Other borrowings	(19)		—		(19)		—
Subordinated notes	86,314		—		86,314		—
Accrued interest payable	584		—		584		—

Schedule of Fair Value Measurements, Nonrecurring

Assets measured at fair value on a nonrecurring basis are included in the table below as of December 31, 2023 and 2022:


	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, 2023
Individually analyzed loans	$	3,095	$	—	$	—	$	3,095
Foreclosed assets	33		—		—		33
Totals	$	3,128	$	—	$	—	$	3,128

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


	Fair Value		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2022
Impaired loans	$	1,020	$	—	$	—	$	1,020
Foreclosed assets	2,930		—		—		2,930
Totals	$	3,950	$	—	$	—	$	3,950

Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation


	December 31,
	2023		2022

Carrying value, beginning of period	$	770	$	4,247
Purchases	—		—
Reinvestments	13		150
Redemptions	(800)		(3,306)
Net realized gains	17		(321)
Carrying value, end of period	$	—	$	770

Schedule of Fair Value Measurement Inputs and Valuation Techniques

For Level 3 assets measured at fair value on a recurring basis as of December 31, 2023, 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

For Level 3 assets measured at fair value on a recurring basis as of December 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

Recurring:

Other equity securities

770

Discounted cash flow

Discount rate (%)

N/A

For Level 3 assets measured at fair value on a nonrecurring basis as of December 31, 2023, 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:

Individually analyzed loans

3,095

Appraisal

Appraisal discounts (%)

15-20%

Foreclosed assets

Appraisal

Appraisal discounts (%)

10-15%

For Level 3 assets measured at fair value on a nonrecurring basis as of December 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

1,020

Appraisal

Appraisal discounts (%)

15-20%

Foreclosed assets

2,930

Appraisal

Appraisal discounts (%)

10-15%

LOANS - Schedule of Impaired Loans (Details) $ in Thousands	12 Months Ended
LOANS - Schedule of Impaired Loans (Details) $ in Thousands	Dec. 31, 2022 USD ($)
With no related allowance recorded:
Recorded Investment	$ 8,878
Unpaid Principal Balance	8,878
Average Recorded Investment	8,914
Interest Income Recognized	706
With an allowance recorded:
Recorded Investment	1,263
Unpaid Principal Balance	1,334
Related Allowance	551
Average Recorded Investment	1,304
Interest Income Recognized	54
Total impaired loans:
Recorded Investment	10,141
Unpaid Principal Balance	10,212
Average Recorded Investment	10,218
Interest Income Recognized	760
Real Estate \| Construction and development
With no related allowance recorded:
Recorded Investment	372
Unpaid Principal Balance	372
Average Recorded Investment	397
Interest Income Recognized	21
With an allowance recorded:
Recorded Investment	92
Unpaid Principal Balance	92
Related Allowance	39
Average Recorded Investment	95
Interest Income Recognized	6
Real Estate \| Residential
With no related allowance recorded:
Recorded Investment	1,129
Unpaid Principal Balance	1,129
Average Recorded Investment	1,169
Interest Income Recognized	59
With an allowance recorded:
Recorded Investment	255
Unpaid Principal Balance	326
Related Allowance	90
Average Recorded Investment	265
Interest Income Recognized	12
Real Estate \| Commercial
With no related allowance recorded:
Recorded Investment	7,323
Unpaid Principal Balance	7,323
Average Recorded Investment	7,282
Interest Income Recognized	622
With an allowance recorded:
Recorded Investment	623
Unpaid Principal Balance	623
Related Allowance	166
Average Recorded Investment	630
Interest Income Recognized	21
Commercial and industrial
With no related allowance recorded:
Recorded Investment	36
Unpaid Principal Balance	36
Average Recorded Investment	42
Interest Income Recognized	3
With an allowance recorded:
Recorded Investment	277
Unpaid Principal Balance	277
Related Allowance	248
Average Recorded Investment	298
Interest Income Recognized	14
Consumer and other
With no related allowance recorded:
Recorded Investment	18
Unpaid Principal Balance	18
Average Recorded Investment	24
Interest Income Recognized	1
With an allowance recorded:
Recorded Investment	16
Unpaid Principal Balance	16
Related Allowance	8
Average Recorded Investment	16
Interest Income Recognized	$ 1

LEASES

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

LEASES

The Company leases certain office facilities under long-term operating lease agreements. The leases expire at various dates through 2028 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.

Rental expense included in the consolidated statements of income for the years ended December 31, 2023 and 2022 is $254 and $252, 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 as a single lease component, with only the lease component capitalized. Operating right-of-use assets and lease liabilities are included on the balance sheet in premises and equipment and other liabilities, respectively, and 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, 2023:


Operating lease right-of-use assets	$	538
Operating lease liabilities	$	545
Weighted average remaining operating lease term	3.9 years
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, 2023, were as follows:


2024	$	179
2025	124
2026	127
2027	130
2028	37
Thereafter	—
Total Lease Payments	596
Less: Interest	(51)
Operating Lease Liability	$	545

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Collateral already posted	$ 6,330
Loss recognized in income from fair value adjustment	$ 24
Derivative Loss Statement Of Income Or Comprehensive Income Extensible Enumeration Not Disclosed Flag	loss recognized in income on derivatives
Loss recognized in income from fee income	$ 715
Fair value of derivatives in a net liability position	7,864
Termination value	$ 7,864

LOANS - Schedule of Composition of Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 1,890,677	$ 1,592,707
% of Total	100.00%	100.00%
Deferred loan fees	$ (6,169)	$ (5,543)
Allowance for credit losses	(24,378)	(20,156)	$ (14,844)
Loans, net	1,860,130	1,567,008
Real Estate
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		1,328,499
Allowance for credit losses	(19,826)	(14,443)	(11,554)
Real Estate \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 242,960	$ 255,736
% of Total	12.90%	16.10%
Real Estate \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 224,603	$ 167,891
% of Total	11.90%	10.50%
Real Estate \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 1,144,867	$ 904,872
% of Total	60.50%	56.80%
Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 269,961	$ 256,553
% of Total	14.30%	16.10%
Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 8,286	$ 7,655
% of Total	0.40%	0.50%
Allowance for credit losses	$ (86)	$ (71)	$ (124)

LEASES - Schedule of Future Obligations (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 179
2025	124
2026	127
2027	130
2028	37
Thereafter	0
Total Lease Payments	596
Less: Interest	(51)
Operating lease liabilities	$ 545

EMPLOYEE AND DIRECTOR BENEFITS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company recognized cost	$ 870	$ 912
Unrecognized compensation	484	513
Company recorded liability	5,095	4,399
Plan expense	821	821
Cash surrender value	29,884	29,186
Bank owned life insurance income	698	624
Capital Surplus
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company recognized cost	353	412
Unvested Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company recognized cost	$ 517	$ 500
Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive stock option plan (in shares)	319,575,000
Weighted average period of years	1 year 5 months 26 days
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	23,534,000	24,265,000
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	$ 517	$ 500
Unrecognized compensation cost	466
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Company recognized cost	$ 652	$ 773
Granted (in shares)	0	107,144,000
Award vesting period	3 years
Unrecognized compensation cost	$ 1,269

FORECLOSED ASSETS (Tables)

12 Months Ended

Dec. 31, 2023

Repossessed Assets [Abstract]

Schedule of Foreclosed Assets

A summary of foreclosed assets is presented as follows:


	December 31,
	2023		2022
Balance, beginning of year	$	2,930	$	2,930
Acquired through settlement of loans	43		—
Sales proceeds	(403)		—

Transfers to loans	(2,517)		—
Net loss on sales of foreclosed assets	(20)		—

Balance, end of year	$	33	$	2,930

SECURITIES - Schedule of Restricted Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt and Equity Securities, FV-NI [Line Items]
Restricted equity securities, at cost	$ 5,684	$ 3,134
Federal Home Loan Bank stock
Debt and Equity Securities, FV-NI [Line Items]
Restricted equity securities, at cost	4,759	2,209
First National Banker’s Bankshares, Inc. stock
Debt and Equity Securities, FV-NI [Line Items]
Restricted equity securities, at cost	675	675
Pacific Coast Banker’s Bank stock
Debt and Equity Securities, FV-NI [Line Items]
Restricted equity securities, at cost	$ 250	$ 250

CONCENTRATIONS OF CREDIT	12 Months Ended
CONCENTRATIONS OF CREDIT	Dec. 31, 2023
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-five 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 $59,684 or on an unsecured basis in excess of 10% of capital, as defined, or approximately $29,842.

REGULATORY MATTERS - Schedule of Regulatory Capital and Ratios (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Company
Tier 1 capital (to average assets)
Actual amount	$ 205,582	$ 174,679
Actual ratio	0.0899	0.0882
Required for capital adequacy purposes, amount	$ 91,503	$ 79,182
Required for capital adequacy purposes, ratio	0.0400	0.0400
CET 1 capital (to risk-weighted assets)
Actual amount	$ 205,582	$ 174,679
Actual ratio	0.0920	0.0886
Required for capital adequacy purposes, amount	$ 156,378	$ 138,018
Required for capital adequacy purposes, ratio	0.0700	0.0700
Tier 1 capital (to risk-weighted assets)
Actual amount	$ 205,582	$ 174,679
Actual ratio	0.0920	0.0886
Required for capital adequacy purposes, amount	$ 189,888	$ 167,593
Required for capital adequacy purposes, ratio	0.0850	0.0850
Total capital (to risk-weighted assets)
Actual amount	$ 319,199	$ 282,835
Actual ratio	0.1429	0.1434
Required for capital adequacy purposes, amount	$ 234,568	$ 207,027
Required for capital adequacy purposes, ratio	0.1050	0.1050
Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Retained earnings available for dividend declaration without regulatory approval	$ 71,277
Tier 1 capital (to average assets)
Actual amount	$ 274,850	$ 240,815
Actual ratio	0.1201	0.1217
Required for capital adequacy purposes, amount	$ 91,503	$ 79,182
Required for capital adequacy purposes, ratio	0.0400	0.0400
Minimums to be “well capitalized” under prompt corrective action, amount	$ 114,379	$ 98,977
Minimums to be “well capitalized” under prompt corrective action, ratio	0.0500	0.0500
CET 1 capital (to risk-weighted assets)
Actual amount	$ 274,850	$ 240,815
Actual ratio	0.1230	0.1221
Required for capital adequacy purposes, amount	$ 156,378	$ 138,018
Required for capital adequacy purposes, ratio	0.0700	0.0700
Minimums to be “well capitalized” under prompt corrective action, amount	$ 145,209	$ 128,160
Minimums to be “well capitalized” under prompt corrective action, ratio	0.0650	0.0650
Tier 1 capital (to risk-weighted assets)
Actual amount	$ 274,850	$ 240,815
Actual ratio	0.1230	0.1221
Required for capital adequacy purposes, amount	$ 189,888	$ 167,593
Required for capital adequacy purposes, ratio	0.0850	0.0850
Minimums To Be "Well Capitalized" Under Prompt Corrective Action, Amount	$ 178,718	$ 157,735
Minimums To Be "Well Capitalized" Under Prompt Corrective Action, Ratio	0.0800	0.0800
Total capital (to risk-weighted assets)
Actual amount	$ 300,467	$ 260,971
Actual ratio	0.1345	0.1324
Required for capital adequacy purposes, amount	$ 234,568	$ 207,027
Required for capital adequacy purposes, ratio	0.1050	0.1050
Minimums to be “well capitalized” under prompt corrective action, amount	$ 223,398	$ 197,169
Minimums to be “well capitalized” under prompt corrective action, ratio	0.1000	0.1000

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Cash and due from banks	$ 19,710	$ 15,260
Interest-bearing deposits in banks	134,846	90,198
Federal funds sold	96,095	63,041
Total cash and cash equivalents	250,651	168,499
Securities available for sale, at fair value ($190,322 amortized cost, $0 allowance for credit losses at December 31, 2023; $170,474 amortized cost, $0 allowance for credit losses at December 31, 2022)	179,000	155,544
Securities held to maturity, at amortized cost ($16,233 at fair value, $0 allowance for credit losses at December 31, 2023; $15,365 at fair value, $0 allowance for credit losses at December 31, 2022)	19,632	19,652
Other equity securities, at fair value	3,649	4,444
Restricted equity securities, at cost	5,684	3,134
Loans held for sale	450	1,047
Loans, net of unearned income	1,884,508	1,587,164
Less allowance for credit losses	24,378	20,156
Loans, net	1,860,130	1,567,008
Premises and equipment, net	26,426	27,345
Accrued interest receivable	8,711	6,963
Bank owned life insurance	29,884	29,186
Annuities	15,036	15,478
Foreclosed assets	33	2,930
Goodwill	16,862	16,862
Core deposit intangible	899	1,226
Other assets	29,616	25,886
Total assets	2,446,663	2,045,204
Deposits:
Noninterest-bearing	437,959	460,977
Interest-bearing	1,580,230	1,259,766
Total deposits	2,018,189	1,720,743
Other borrowings	26,994
Other borrowings		(19)
FHLB advances	70,000	31,000
Subordinated notes	86,679	86,314
Accrued interest payable	1,519	584
Other liabilities	28,318	24,863
Total liabilities	2,231,699	1,863,485
Stockholders' equity:
Preferred stock, $0.01 par value, 2,000,000 shares authorized; 0 shares issued and outstanding at December 31, 2023 and December 31, 2022	0	0
Common stock, $5 par value, 30,000,000 shares authorized; 8,841,349 and 8,706,920 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively	44,479	43,714
Capital surplus	78,361	76,785
Retained earnings	102,523	73,764
Accumulated other comprehensive loss	(8,379)	(11,048)
Unvested restricted stock	(466)	(477)
Vested restricted stock units	(1,554)	(1,019)
Total stockholders' equity	214,964	181,719
Total liabilities and stockholders' equity	$ 2,446,663	$ 2,045,204

COVER - USD ($) $ in Millions	12 Months Ended
COVER - USD ($) $ in Millions	Dec. 31, 2023	Mar. 11, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-40727
Entity Registrant Name	Southern States Bancshares, Inc.
Entity Incorporation, State or Country Code	AL
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
Title of 12(b) Security	Common Stock, $5.00 par value
Trading Symbol	SSBK
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 172.0
Entity Common Stock, Shares Outstanding		8,871,500
Documents Incorporated by Reference	Portions of the registrant's Definitive Proxy Statement for the 2024 Annual Meeting of Shareholders to be held on May 15, 2024, are incorporated by reference into Part III of this Annual Report on Form 10-K to the extent stated herein. Such Definitive Proxy Statement will be filed with the SEC within 120 days after the end of the registrant's fiscal year ended December 31, 2023.
Entity Central Index Key	0001689731
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY

LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

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, 2023:


Operating lease right-of-use assets	$	538
Operating lease liabilities	$	545
Weighted average remaining operating lease term	3.9 years
Weighted average operating lease discount rate	4.5		%

Schedule of Future Obligations, Long-Term Operating Leases

Future obligations over the primary and renewal option terms of the Company’s long-term operating leases as of December 31, 2023, were as follows:


2024	$	179
2025	124
2026	127
2027	130
2028	37
Thereafter	—
Total Lease Payments	596
Less: Interest	(51)
Operating Lease Liability	$	545

INCOME TAXES - Schedule of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Current	$ 12,007	$ 10,421
Deferred	(2,939)	(2,696)
Income tax expense	$ 9,068	$ 7,725

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

LOANS

12 Months Ended

Dec. 31, 2023

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:


	December 31,
	2023			2022
	Amount		% of Total	Amount		% of Total
Real estate mortgages:
Construction and development	$	242,960	12.9%	$	255,736	16.1%
Residential	224,603		11.9%	167,891		10.5%
Commercial	1,144,867		60.5%	904,872		56.8%
Commercial and industrial	269,961		14.3%	256,553		16.1%
Consumer and other	8,286		0.4%	7,655		0.5%
Gross Loans	1,890,677		100.0%	1,592,707		100.0%
Deferred loan fees	(6,169)			(5,543)
Allowance for credit losses	(24,378)			(20,156)
Loans, net	$	1,860,130		$	1,567,008

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.

Portfolio Segments and Classes (Continued)

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.

Credit Risk Management (Continued)

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.

Credit Risk Management (Continued)

The following table summarizes the risk category of the Company’s loan portfolio based upon the most recent analysis on the year of origination as of December 31, 2023:


	2023		2022		2021		2020		2019		Prior		Revolving Loans		Total
Real Estate Mortgages:
Construction and development
Pass	$	48,141	$	139,291	$	39,679	$	1,721	$	1,969	$	5,214	$	2,516	$	238,531
Special Mention	—		—		—		—		—		4,429		—		4,429
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Total	48,141		139,291		39,679		1,721		1,969		9,643		2,516		242,960
Current period gross write-off	—		—		—		—		—		—		3		3

Residential
Pass	51,135		54,610		23,808		42,071		6,496		12,883		33,132		224,135
Special Mention	81		—		—		—		—		—		—		81
Substandard	—		118		—		—		153		62		54		387
Doubtful	—		—		—		—		—		—		—		—
Total	51,216		54,728		23,808		42,071		6,649		12,945		33,186		224,603
Current period gross write-off	—		—		—		—		—		—		—		—

Commercial
Pass	232,834		328,006		256,007		99,067		63,906		125,007		14,685		1,119,512
Special Mention	—		350		2,840		2,623		414		4,490		—		10,717
Substandard	660		432		7,811		—		—		5,735		—		14,638
Doubtful	—		—		—		—		—		—		—		—
Total	233,494		328,788		266,658		101,690		64,320		135,232		14,685		1,144,867
Current period gross write-off	—		—		—		—		—		—		—		—

Commercial and industrial
Pass	68,482		51,368		20,626		21,390		4,758		7,257		88,074		261,955
Special Mention	126		—		—		2,711		172		—		1,873		4,882
Substandard	—		1,210		20		—		219		—		1,675		3,124
Doubtful	—		—		—		—		—		—		—		—
Total	68,608		52,578		20,646		24,101		5,149		7,257		91,622		269,961
Current period gross write-off	424		51		167		44		—		—		—		686

Consumer and other
Pass	2,291		1,111		292		149		316		1,275		2,852		8,286
Special Mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Total	2,291		1,111		292		149		316		1,275		2,852		8,286
Current period gross write-off	—		6		2		—		—		—		—		8

Gross Loans
Pass	402,883		574,386		340,412		164,398		77,445		151,636		141,259		1,852,419
Special Mention	207		350		2,840		5,334		586		8,919		1,873		20,109
Substandard	660		1,760		7,831		—		372		5,797		1,729		18,149
Doubtful	—		—		—		—		—		—		—		—
Total	$	403,750	$	576,496	$	351,083	$	169,732	$	78,403	$	166,352	$	144,861	$	1,890,677
Current period gross write-off	$	424	$	57	$	169	$	44	$	—	$	—	$	3	$	697

Credit Risk Management (Continued)

The following table summarizes the risk category of the Company’s loan portfolio based upon the most recent analysis performed as of December 31, 2022, prior to the adoption of ASU 2016-13:


	Pass		Special Mention		Substandard		Doubtful		Total
As of December 31, 2022
Real estate mortgages:
Construction and development	$	251,130	$	4,539	$	67	$	—	$	255,736
Residential	165,388		1,787		716		—		167,891
Commercial	883,082		18,532		3,258		—		904,872
Commercial and industrial	247,948		8,322		283		—		256,553
Consumer and other	7,604		28		23		—		7,655
Total	$	1,555,152	$	33,208	$	4,347	$	—	$	1,592,707

Collateral Dependent Loans

The Company classifies a loan as collateral dependent when the borrower is experiencing financial difficulty, and expected repayment is to be provided substantially through the operation or sale of collateral. The following table summarizes collateral dependent loans, which are individually evaluated to determine expected credit losses.


	Real Estate		Other		Total		ACL
As of December 31, 2023
Real estate mortgages:
Construction and development	$	210	$	—	$	210	$	31
Residential	980		—		980		72
Commercial	15,514		—		15,514		162
Commercial and industrial	—		3,131		3,131		1,100
Consumer and other	—		11		11		1
Total	$	16,704	$	3,142	$	19,846	$	1,366

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 as of December 31, 2023 and December 31, 2022:


			Past Due Status (Accruing Loans)
	Current		30-59 Days		60-89 Days		90+ Days		Total Past Due		Nonaccrual with ACL		Nonaccrual without ACL		Total
As of December 31, 2023
Real estate mortgages:
Construction and development	$	242,315	$	591	$	54	$	—	$	645	$	—	$	—	$	242,960
Residential	223,195		1,106		—		51		1,157		23		228		224,603
Commercial	1,140,587		3,245		160		109		3,514		324		442		1,144,867
Commercial and industrial	269,598		265		98		—		363		—		—		269,961
Consumer and other	8,259		17		10		—		27		—		—		8,286
Total	$	1,883,954	$	5,224	$	322	$	160	$	5,706	$	347	$	670	$	1,890,677

As of December 31, 2022
Real estate mortgages:
Construction and development	$	255,575	$	—	$	94	$	—	$	94	$	—	$	67	$	255,736
Residential	167,108		147		72		—		219		30		534		167,891
Commercial	900,895		2,634		65		—		2,699		351		927		904,872
Commercial and industrial	254,824		1,379		38		—		1,417		277		35		256,553
Consumer and other	7,570		62		—		—		62		16		7		7,655
Total	$	1,585,972	$	4,222	$	269	$	—	$	4,491	$	674	$	1,570	$	1,592,707

The Company recognized $62 and $100 of interest income on nonaccrual loans during the years ended December 31, 2023, and December 31, 2022, respectively.

Allowance for Credit Losses

Allowance for Credit Losses (Continued)


	Real Estate		Commercial		Consumer		Total
Allowance for credit losses:
Balance at December 31, 2022	$	14,443	$	5,642	$	71	$	20,156
Impact of adoption of ASC 326	(1,164)		(120)		(1)		(1,285)
Provision (credit) for credit losses	6,509		(424)		5		6,090
Loans charged off	(3)		(686)		(8)		(697)
Recoveries of loans previously charged off	41		54		19		114
Ending balance at December 31, 2023	$	19,826	$	4,466	$	86	$	24,378

Allowance for Loans Losses - Incurred Loss Methodology


	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	2,912		2,750		(57)		5,605
Loans charged off	(73)		(479)		(26)		(578)
Recoveries of loans previously charged off	50		205		30		285
Ending balance at December 31, 2022	$	14,443	$	5,642	$	71	$	20,156

Ending balance - individually evaluated for impairment	$	258	$	248	$	8	$	514
Ending balance - collectively evaluated for impairment	14,148		5,394		63		19,605
Ending balance - loans acquired with deteriorated credit quality	37		—		—		37
Total ending balance at December 31, 2022	$	14,443	$	5,642	$	71	$	20,156

Loans:
Ending balance - individually evaluated for impairment	$	8,652	$	313	$	34	$	8,999
Ending balance - collectively evaluated for impairment	1,318,705		256,240		7,621		1,582,566
Ending balance - loans acquired with deteriorated credit quality	1,142		—		—		1,142
Total ending balance at December 31, 2022	$	1,328,499	$	256,553	$	7,655	$	1,592,707

Impaired Loans - Incurred Loss Methodology

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 December 31, 2022.

Impaired Loans - Incurred Loss Methodology (Continued)


	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
December 31, 2022
With no related allowance recorded:
Real estate mortgages:
Construction and development	$	372	$	372	$	—	$	397	$	21
Residential	1,129		1,129		—		1,169		59
Commercial	7,323		7,323		—		7,282		622
Commercial and industrial	36		36		—		42		3
Consumer and other	18		18		—		24		1
Total with no related allowance recorded	8,878		8,878		—		8,914		$	706

With an allowance recorded:
Real estate mortgages:
Construction and development	92		92		39		95		$	6
Residential	255		326		90		265		12
Commercial	623		623		166		630		21
Commercial and industrial	277		277		248		298		14
Consumer and other	16		16		8		16		1
Total with an allowance recorded	1,263		1,334		551		1,304		54
Total impaired loans:	$	10,141	$	10,212	$	551	$	10,218	$	760

Modifications to Borrowers Experiencing Financial Difficulty

From time to time, we may modify certain loans to borrowers who are experiencing financial difficulty. In some cases, these modifications may result in new loans. Loan modifications to borrowers experiencing financial difficulty may be in the form of a principal forgiveness, an interest rate reduction, a payment delay, a term extension, or a combination thereof, among other things.

Modifications to Borrowers Experiencing Financial Difficulty (Continued)


	Term Extension		Term Extension and Rate Adjustment		Total		Percentage of Total Loans
Real estate mortgages:
Construction and development	$	89	$	117	$	206	—	%
Residential	—		—		—		—	%
Commercial	—		—		—		—	%
Commercial and industrial	—		—		—		—	%
Consumer and other	—		—		—		—	%
Total	$	89	$	117	$	206	—	%

The Company had no modified loans during the year ended December 31, 2023 that subsequently defaulted. For purposes of this disclosure, the term default is defined as the earlier of being placed on nonaccrual status or reaching 90 days past due and still accruing with respect to principle and/or interest payments. The Company has no unfunded commitments to borrowers experiencing financial difficulty for which the Company has modified their loans as of December 31, 2023.

Troubled Debt Restructurings

As of December 31, 2022, impaired loans included $2,124 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, 2022, the Company had $1,292 in loans considered restructured that are not on nonaccrual status. Of the nonaccrual loans at December 31, 2022, $832 met the criteria for a TDR. A loan is placed back on accrual status when both principal and interest 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 year ended December 31, 2022.

Troubled Debt Restructurings (Continued)


	Troubled Debt Restructurings
		Recorded		Recorded
		Investment		Investment		Impact on the
	Number	Prior to		After		Allowance for
	of Loans	Modification		Modification		Loan Losses
December 31, 2022
Real estate mortgages:
Construction and development	—	$	—	$	—	$	—
Residential	2	170		164		—
Commercial	1	359		352		116
Commercial and industrial	1	11		11		—
Consumer and other	—	—		—		—
Total	4	$	540	$	527	$	116

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, 2022, no loans modified in a TDR during the twelve months, subsequently defaulted.

SECURITIES - Schedule of Amortized Cost and Fair Value by Contractual Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Amortized Cost
Due in less than one year	$ 482	$ 0
Due from one year to five years	11,671	8,338
Due after five to ten years	22,537	24,468
Due after ten years	54,326	61,776
Mortgage-backed securities	101,306	75,892
Amortized Cost	190,322	170,474
Fair Value
Due in less than one year	476	0
Due from one year to five years	10,855	7,818
Due after five to ten years	20,439	22,047
Due after ten years	50,285	55,396
Mortgage-backed securities	96,945	70,283
Total securities available for sale	179,000	155,544
Amortized Cost
Due in less than one year	0	0
Due from one year to five years	0	0
Due after five to ten years	7,743	5,310
Due after ten years	11,889	14,342
Mortgage-backed securities	0	0
Amortized Cost	19,632	19,652
Securities Held to Maturity
Due in less than one year	0	0
Due from one year to five years	0	0
Due after five to ten years	6,483	4,255
Due after ten years	9,750	11,110
Mortgage-backed securities	0	0
Securities held to maturity, at amortized cost	16,233	15,365
Total securities
Amortized Cost	209,954	190,126
Fair Value	$ 195,233	$ 170,909

PARENT COMPANY FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022, and the condensed statements of income and cash flows for the years then ended.


CONDENSED BALANCE SHEET	December 31, 2023		December 31, 2022
Assets:
Cash	$	14,967	$	19,405
Investment in subsidiary	284,232		247,856
Other assets	3,529		1,529
Total assets	302,728		268,790

Liabilities and stockholders’ equity:
Other borrowings	$	(6)	$	(19)
Subordinated notes	86,679		86,314
Other liabilities	1,091		776
Total liabilities	87,764		87,071

Stockholders’ equity	214,964		181,719

Total liabilities and stockholders’ equity	$	302,728	$	268,790


CONDENSED STATEMENTS OF INCOME	For the Years Ended
	2023		2022
Income
Dividend income from subsidiary	$	3,150	$	3,167
Dividend income from equity securities	(5)		136
Gain on equity securities	574		—
	3,719		3,303
Expense
Interest expense	4,903		2,315
Other	2,100		2,258
	7,003		4,573
Loss before income tax benefits and equity in undistributed earnings of subsidiary	(3,284)		(1,270)

Income tax benefits	1,530		827

Loss before equity in undistributed earnings of subsidiary	(1,754)		(443)

Equity in undistributed earnings of subsidiary	33,706		27,514

Net income	$	31,952	$	27,071


CONDENSED STATEMENTS OF CASH FLOW	For the Years Ended
	2023		2022
OPERATING ACTIVITIES
Net income	$	31,952	$	27,071
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Equity in undistributed earnings of subsidiary	(33,706)		(27,514)
Stock-based compensation	870		912
(Decrease) increase in accrued interest payable	(3)		3
Net other operating (expenses) income	(589)		275
Net cash (used in) provided by operating activities	(1,476)		747

INVESTING ACTIVITIES
Investment in equity securities	(1,094)		(237)

Net cash used in investing activities	(1,094)		(237)

FINANCING ACTIVITIES
Net proceeds (repayment) of note payable	13		(12,517)
Net proceeds of subordinated notes	365		86,314
Issuance of common stock	1,563		222
Issuance of restricted stock units	363		—
Purchase of common stock	(979)		(7,358)
Capital contribution to subsidiary	—		(45,000)
Common stock dividends paid	(3,193)		(3,165)
Net cash (used in) provided by financing activities	(1,868)		18,496

Net (decrease) increase in cash	(4,438)		19,006

Cash at beginning of year	19,405		399

Cash at end of year	$	14,967	$	19,405

EMPLOYEE AND DIRECTOR BENEFITS - Schedule of Weighted Average Assumptions (Details) - Share-based Payment Arrangement, Option - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	1.22%	1.75%
Weighted average volatility	76.02%	77.33%
Expected life in years	6 years 6 months 25 days	6 years 6 months
Risk-free interest rate	3.92%	1.93%
Weighted average grant date fair value (in dollars per share)	$ 19.14	$ 12.47

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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+ Details

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Unrealized holding gains on securities available for sale arising during the period, tax	$ (935)	$ 4,624
Reclassification adjustment for losses (gains) on securities available for sale realized in net income, benefit (tax)	$ 3	$ 0

SECURITIES

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

SECURITIES

The amortized cost and fair value of securities at December 31, 2023 and December 31, 2022 are summarized as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2023
Securities Available for Sale
U.S. Treasury securities	$	9,721	$	—	$	(949)	$	8,772
U.S. Government Sponsored Enterprises (GSEs)	2,446		37		(215)		2,268
State and municipal securities	45,220		21		(4,172)		41,069
Corporate debt securities	12,517		—		(1,258)		11,259
Asset based securities	19,112		54		(479)		18,687
Mortgage-backed GSE residential/multifamily and non-GSE	101,306		164		(4,525)		96,945
Total securities available for sale	$	190,322	$	276	$	(11,598)	$	179,000

Securities Held to Maturity


State and municipal securities	19,632		—		(3,399)		16,233



Total securities held to maturity	$	19,632	$	—	$	(3,399)	$	16,233
Total securities	$	209,954	$	276	$	(14,997)	$	195,233


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
December 31, 2022
Securities Available for Sale
U.S. Treasury securities	$	9,764	$	—	$	(1,180)	$	8,584
U.S. Government Sponsored Enterprises (GSEs)	2,009		—		(221)		1,788
State and municipal securities	56,204		100		(6,379)		49,925
Corporate debt securities	12,526		—		(899)		11,627
Asset based securities	14,079		—		(742)		13,337
Mortgage-backed GSE residential/multifamily and non-GSE	75,892		3		(5,612)		70,283
Total securities available for sale	$	170,474	$	103	$	(15,033)	$	155,544

Securities Held to Maturity


State and municipal securities	19,652		—		(4,287)		15,365



Total securities held to maturity	$	19,652	$	—	$	(4,287)	$	15,365
Total securities	$	190,126	$	103	$	(19,320)	$	170,909

Securities with a carrying value of $27,477 and $32,222 at December 31, 2023 and December 31, 2022, respectively, were pledged to secure public deposits and for other purposes as required or permitted by law.


	December 31,
	2023				2022
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Securities Available for Sale
Due in less than one year	$	482	$	476	$	—	$	—
Due from one year to five years	11,671		10,855		8,338		7,818
Due after five to ten years	22,537		20,439		24,468		22,047
Due after ten years	54,326		50,285		61,776		55,396
Mortgage-backed securities	101,306		96,945		75,892		70,283
Total securities available for sale	$	190,322	$	179,000	$	170,474	$	155,544

Securities Held to Maturity
Due in less than one year	$	—	$	—	$	—	$	—
Due from one year to five years	—		—		—		—
Due after five to ten years	7,743		6,483		5,310		4,255
Due after ten years	11,889		9,750		14,342		11,110
Mortgage-backed securities	—		—		—		—
Total securities held to maturity	$	19,632	$	16,233	$	19,652	$	15,365
Total securities	$	209,954	$	195,233	$	190,126	$	170,909


	Years Ended December 31,
	2023		2022
Gross gains	$	792	$	331
Gross losses	(237)		(963)
Net realized gain (loss)	$	555	$	(632)

Restricted equity securities as of December 31, 2023 and December 31, 2022 consist of the following:


	December 31,
	2023		2022
Federal Home Loan Bank stock	$	4,759	$	2,209
First National Banker’s Bankshares, Inc. stock	675		675
Pacific Coast Banker’s Bank stock	250		250
Total restricted equity securities	$	5,684	$	3,134


	Less Than Twelve Months				Over Twelve Months
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Total Unrealized Losses
December 31, 2023
Securities Available for Sale
U.S. Treasury securities	$	—	$	—	$	(949)	$	8,772	$	(949)
U.S. Government Sponsored Enterprises (GSEs)	—		—		(215)		1,451		(215)
State and municipal securities	—		—		(4,172)		40,663		(4,172)
Corporate debt securities	—		—		(1,258)		11,259		(1,258)
Asset based securities	(11)		1,102		(468)		6,904		(479)
Mortgage-backed GSE residential/multifamily and non-GSE	(268)		24,708		(4,257)		56,083		(4,525)
Total securities available for sale	$	(279)	$	25,810	$	(11,319)	$	125,132	$	(11,598)

Securities Held to Maturity


State and municipal securities	—		—		(3,399)		16,233		(3,399)



Total securities held to maturity	$	—	$	—	$	(3,399)	$	16,233	$	(3,399)
Total securities	$	(279)	$	25,810	$	(14,718)	$	141,365	$	(14,997)


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

December 31, 2022
Securities Available for Sale
U.S. Treasury securities	$	(119)	$	1,873	$	(1,061)	$	6,711	$	(1,180)
U.S. Government Sponsored Enterprises (GSEs)	—		—		(221)		1,788		(221)
State and municipal securities	(2,561)		26,504		(3,818)		19,012		(6,379)
Corporate debt securities	(507)		8,497		(392)		3,130		(899)
Asset based securities	(178)		6,497		(564)		6,840		(742)
Mortgage-backed GSE residential/multifamily and non-GSE	(3,598)		52,260		(2,014)		16,107		(5,612)
Total securities available for sale	$	(6,963)	$	95,631	$	(8,070)	$	53,588	$	(15,033)

Securities Held to Maturity


State and municipal securities	(2,072)		8,153		(2,215)		7,211		(4,287)



Total securities held to maturity	$	(2,072)	$	8,153	$	(2,215)	$	7,211	$	(4,287)
Total securities	$	(9,035)	$	103,784	$	(10,285)	$	60,799	$	(19,320)

The unrealized losses on 228 securities at December 31, 2023 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 credit impaired at December 31, 2023.

At December 31, 2023, no allowance for credit losses has been recognized on available for sale debt securities in an unrealized loss position as the Company does not believe any of the debt securities are credit impaired. This is based on the Company’s analysis of the risk characteristics, including credit ratings, and other qualitative factors related to available for sale debt securities. The issuers of these debt securities continue to make timely principal and interest payments under the contractual terms of the securities. The Company does not intend to sell these debt securities and it is more likely than not that the Company will not be required to sell the debt securities before recovery of their amortized cost, which may be at maturity. The unrealized losses are due to increases in market interest rates over the yields available at the time the debt securities were purchased. Management measures expected credit losses on held to maturity securities on a collective basis by major security type with each type sharing similar risk characteristics and considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. With regard to securities issued by states and political subdivisions, management considers (i) issuer bond ratings, (ii) historical loss rates for given bond ratings, (iii) whether issuers continue to make timely principal and interest payments under the contractual terms of the securities, and (iv) internal forecasts. Historical loss rates associated with securities having similar grades as those in our portfolio have generally not been significant. Furthermore, as of December 31, 2023, there were no past due principal or interest payments associated with these securities. Based upon (i) the issuer’s strong bond ratings and (ii) a zero historical loss rate, no allowance for credit losses has been recorded for held to maturity state and municipal securities as such amount is not material at December 31, 2023. All debt securities in an unrealized loss position as of December 31, 2023 continue to perform as scheduled and the Company does not believe there is a possible credit loss or that an allowance for credit loss on these debt securities is necessary.

REVENUE FROM CONTRACTS WITH CUSTOMERS	12 Months Ended
REVENUE FROM CONTRACTS WITH CUSTOMERS	Dec. 31, 2023
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; 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 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
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-Paragraph 10
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Subparagraph (a)
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 12
-Subparagraph (c)
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 12
-Subparagraph (d)
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

DEPOSITS - Schedule of Composition of Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Banking and Thrift, Interest [Abstract]
Noninterest-bearing transaction	$ 437,959	$ 460,977
Interest-bearing transaction	946,347	837,127
Savings	35,412	49,235
Time deposits, $250,000 and under	500,406	307,145
Time deposits, over $250,000	98,065	66,259
Total deposits	$ 2,018,189	$ 1,720,743

LOANS - Schedule of Amortized Cost Basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Modified [Line Items]
Recorded investment after modification	$ 206	$ 527
Percentage of Total Loans	0.00%
Loans modified, subsequently defaulted	$ 0
Unfunded commitments, borrowers with financial difficulty	0
Term Extension
Financing Receivable, Modified [Line Items]
Recorded investment after modification	89
Term Extension and Rate Adjustment
Financing Receivable, Modified [Line Items]
Recorded investment after modification	117
Real Estate \| Construction and development
Financing Receivable, Modified [Line Items]
Recorded investment after modification	$ 206	0
Percentage of Total Loans	0.00%
Real Estate \| Construction and development \| Term Extension
Financing Receivable, Modified [Line Items]
Recorded investment after modification	$ 89
Real Estate \| Construction and development \| Term Extension and Rate Adjustment
Financing Receivable, Modified [Line Items]
Recorded investment after modification	117
Real Estate \| Residential
Financing Receivable, Modified [Line Items]
Recorded investment after modification	$ 0	164
Percentage of Total Loans	0.00%
Real Estate \| Residential \| Term Extension
Financing Receivable, Modified [Line Items]
Recorded investment after modification	$ 0
Real Estate \| Residential \| Term Extension and Rate Adjustment
Financing Receivable, Modified [Line Items]
Recorded investment after modification	0
Real Estate \| Commercial
Financing Receivable, Modified [Line Items]
Recorded investment after modification	$ 0	352
Percentage of Total Loans	0.00%
Real Estate \| Commercial \| Term Extension
Financing Receivable, Modified [Line Items]
Recorded investment after modification	$ 0
Real Estate \| Commercial \| Term Extension and Rate Adjustment
Financing Receivable, Modified [Line Items]
Recorded investment after modification	0
Commercial and industrial
Financing Receivable, Modified [Line Items]
Recorded investment after modification	$ 0	11
Percentage of Total Loans	0.00%
Commercial and industrial \| Term Extension
Financing Receivable, Modified [Line Items]
Recorded investment after modification	$ 0
Commercial and industrial \| Term Extension and Rate Adjustment
Financing Receivable, Modified [Line Items]
Recorded investment after modification	0
Consumer and other
Financing Receivable, Modified [Line Items]
Recorded investment after modification	$ 0	$ 0
Percentage of Total Loans	0.00%
Consumer and other \| Term Extension
Financing Receivable, Modified [Line Items]
Recorded investment after modification	$ 0
Consumer and other \| Term Extension and Rate Adjustment
Financing Receivable, Modified [Line Items]
Recorded investment after modification	$ 0

PARENT COMPANY FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Balance Sheet


CONDENSED BALANCE SHEET	December 31, 2023		December 31, 2022
Assets:
Cash	$	14,967	$	19,405
Investment in subsidiary	284,232		247,856
Other assets	3,529		1,529
Total assets	302,728		268,790

Liabilities and stockholders’ equity:
Other borrowings	$	(6)	$	(19)
Subordinated notes	86,679		86,314
Other liabilities	1,091		776
Total liabilities	87,764		87,071

Stockholders’ equity	214,964		181,719

Total liabilities and stockholders’ equity	$	302,728	$	268,790

Schedule of Condensed Income Statement


CONDENSED STATEMENTS OF INCOME	For the Years Ended
	2023		2022
Income
Dividend income from subsidiary	$	3,150	$	3,167
Dividend income from equity securities	(5)		136
Gain on equity securities	574		—
	3,719		3,303
Expense
Interest expense	4,903		2,315
Other	2,100		2,258
	7,003		4,573
Loss before income tax benefits and equity in undistributed earnings of subsidiary	(3,284)		(1,270)

Income tax benefits	1,530		827

Loss before equity in undistributed earnings of subsidiary	(1,754)		(443)

Equity in undistributed earnings of subsidiary	33,706		27,514

Net income	$	31,952	$	27,071

Schedule of Condensed Cash Flow Statement


CONDENSED STATEMENTS OF CASH FLOW	For the Years Ended
	2023		2022
OPERATING ACTIVITIES
Net income	$	31,952	$	27,071
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Equity in undistributed earnings of subsidiary	(33,706)		(27,514)
Stock-based compensation	870		912
(Decrease) increase in accrued interest payable	(3)		3
Net other operating (expenses) income	(589)		275
Net cash (used in) provided by operating activities	(1,476)		747

INVESTING ACTIVITIES
Investment in equity securities	(1,094)		(237)

Net cash used in investing activities	(1,094)		(237)

FINANCING ACTIVITIES
Net proceeds (repayment) of note payable	13		(12,517)
Net proceeds of subordinated notes	365		86,314
Issuance of common stock	1,563		222
Issuance of restricted stock units	363		—
Purchase of common stock	(979)		(7,358)
Capital contribution to subsidiary	—		(45,000)
Common stock dividends paid	(3,193)		(3,165)
Net cash (used in) provided by financing activities	(1,868)		18,496

Net (decrease) increase in cash	(4,438)		19,006

Cash at beginning of year	19,405		399

Cash at end of year	$	14,967	$	19,405

RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022 totaled $11,446 and $10,586, respectively.

Changes in related party loans for the years ended December 31, 2023 and 2022 are as follows:


	December 31,
	2023		2022
Balance, beginning of year	$	5,691	$	7,323
Additions for new directors	8,025		—
Advances	2,999		625
Repayments	(3,101)		(2,257)
Balance, end of year	$	13,614	$	5,691

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

EMPLOYEE AND DIRECTOR BENEFITS

12 Months Ended

Dec. 31, 2023

Retirement Benefits [Abstract]

EMPLOYEE AND DIRECTOR BENEFITS

Incentive Stock Compensation

The Company maintains the 2017 Incentive Stock Compensation Plan which allows for the grants to directors and employees of incentive and nonqualified stock options depending on the eligibility of the recipient. In addition, it allows for the grants of restricted stock and restricted stock units. The grants, including the terms of the award, are determined by the Compensation Committee, and approved by the Board of Directors. As of December 31, 2023, there are 319,575 equity units available to be granted.

Incentive Stock Options

Pertinent information related to the options is as follows:


	Number	Weighted Average Exercise Price
Year Ended December 31, 2023
Options outstanding, beginning of year	518,259	$	15.72
Granted	27,839	29.73
Exercised	(180,141)	13.07
Forfeited	(40,242)	21.61
Options outstanding, end of year	325,715	$	17.65
Weighted average remaining contractual life		5.32 years

Exercisable, end of year	269,045	$	16.39

Year Ended December 31, 2022
Options outstanding, beginning of year	501,492	$	15.37
Granted	32,067	20.61
Exercised	(15,300)	14.43
Forfeited	—	—
Options outstanding, end of year	518,259	$	15.72
Weighted average remaining contractual life		5.72 years

Exercisable, end of year	405,125	$	14.66

Incentive Stock Options (Continued)

Exercisable options at December 31, 2023 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	35,000	$	10.00	2.06	$	675
14.00		17,000	14.00		3.30	260
14.00		7,500	14.00		3.63	115
14.00		5,000	14.00		3.97	76
14.50		37,500	14.50		4.06	554
14.50		8,000	14.50		4.92	118
16.00		49,377	16.00		5.11	656
22.75		12,000	22.75		5.80	78
20.10		43,316	20.10		6.07	398
20.10		19,378	20.10		6.12	178
14.98		6,000	14.98		6.77	86
18.34		6,000	18.34		6.98	66
20.03		14,956	20.03		7.12	138
20.61		8,018	20.61		8.12	70
		269,045	$	16.39	4.92	$	3,467

For the years ended December 31, 2023 and 2022, the Company recognized $353 and $412, respectively, in stock-based compensation expense related to stock option awards. As of December 31, 2023 and 2022, there is $484 and $513, 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 1.49 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 2023 and 2022 as follows:


	December 31,
	2023		2022
Dividend yield	1.22%		1.75%
Weighted average volatility	76.02%		77.33%
Expected life in years	6.57 years		6.50 years
Risk-free interest rate	3.92%		1.93%
Weighted average grant-date fair value	$	19.14	$	12.47

Restricted Stock

The Company awarded 23,534 shares of restricted stock during 2023 and 24,265 in 2022. The restriction is 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 Grant Date Fair Value
Year Ended December 31, 2023
Nonvested, beginning of year	39,295	$	20.05
Granted	23,534	29.02
Forfeited	(7,135)	24.78
Vested	(24,949)	21.71
Nonvested, end of year	30,745	$	24.47

Year Ended December 31, 2022
Nonvested, beginning of year	39,314	$	19.50
Granted	24,265	20.61
Forfeited	—	—
Vested	(24,284)	19.71
Nonvested, end of year	39,295	$	20.05

As of December 31, 2023, there was $466 of unrecognized compensation cost related to nonvested restricted stock awards. Expense for restricted stock awards of $517 and $500 was recorded for the years ended December 31, 2023 and 2022, respectively.

Restricted Stock Units

On December 21, 2022, the Company amended the 2017 Incentive Stock Compensation Plan to allow for the grant of restricted stock units. The restriction is based upon continuous service until retirement and the units will vest over three years. Nonvested restricted stock units consists of the following:


	Number	Weighted Average Grant Date Fair Value
Year Ended December 31, 2023
Nonvested, beginning of year	71,429	$	28.52
Granted	—	—
Vested	(31,478)	28.52
Forfeited	(12,711)	28.52
Nonvested, end of year	27,240	$	28.52

Year Ended December 31, 2022
Nonvested, beginning of year	—	$	—
Granted	107,144	28.52
Vested	(35,715)	28.52
Nonvested, end of year	71,429	$	28.52

Restricted Stock Units (Continued)

As of December 31, 2023, there was $1,269 of unrecognized compensation cost related to nonvested restricted stock units. Expense for restricted stock units of $652 and $773 was recorded for the year ended December 31, 2023 and 2022, 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, 2023 and 2022, amounting to $5,095 and $4,399, 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 $821 and $821 for the years ended December 31, 2023 and 2022, 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 $29,884 and $698, respectively, as of and for the year ended December 31, 2023 and $29,186 and $624, respectively, as of and for the year ended December 31, 2022.

RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Related Party Transactions

Changes in related party loans for the years ended December 31, 2023 and 2022 are as follows:


	December 31,
	2023		2022
Balance, beginning of year	$	5,691	$	7,323
Additions for new directors	8,025		—
Advances	2,999		625
Repayments	(3,101)		(2,257)
Balance, end of year	$	13,614	$	5,691

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Property, Plant and Equipment (Details)	Dec. 31, 2023
Minimum \| Building
Property, Plant and Equipment [Line Items]
Premises and equipment, estimated useful life	10 years
Minimum \| Furniture and equipment
Property, Plant and Equipment [Line Items]
Premises and equipment, estimated useful life	3 years
Maximum \| Building
Property, Plant and Equipment [Line Items]
Premises and equipment, estimated useful life	39 years
Maximum \| Furniture and equipment
Property, Plant and Equipment [Line Items]
Premises and equipment, estimated useful life	7 years

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On February 27, 2024, we entered into an Agreement and Plan of Merger (the “Agreement”) to acquire Century Bank of Georgia (“Century Bank”). Under the terms of the Agreement, CBB Bancorp, the parent company of Century Bank (“CBB Bancorp”) will merge with and into us, with us surviving and Century Bank will merge with and into the Bank, with the Bank surviving (the “Merger”). Under the terms and subject to the conditions of the Agreement, the holders of CBB Bancorp will have the right to elect to receive either 1.550 shares of our common stock or $45.63 in cash. Shareholder elections for cash are subject to proration such that no more than 10% of the shares outstanding of CBB Bancorp will receive the cash consideration. The Merger is subject to customary closing conditions, including regulatory approval and approval by the CBB Bancorp shareholders, and is expected to close in the third quarter of 2024. Century Bank operates two branches in the Northwest Georgia markets of Cartersville and Rockmart. For additional information about the Merger, please see the Current Report on Form 8-K filed by Southern States Bancshares, Inc. on February 28, 2024.

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Values of Derivative Instruments on the Balance Sheet


December 31, 2023						December 31, 2022
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	$	104,180	Other Assets	$	7,691	Interest Rate Products	$	73,631	Other Assets	$	8,870
Interest Rate Products	104,180		Other Liabilities	(7,726)		Interest Rate Products	73,361		Other Liabilities	(8,882)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation and Accounting Estimates	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. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for credit losses, the valuation of foreclosed assets, financial instruments, deferred taxes and investment 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 credit 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	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 December 31, 2023 and December 31, 2022.
Securities and Other Equity Securities	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. Management uses a systematic methodology to determine its allowance for credit losses for held to maturity debt securities. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis to present the net amount expected to be collected on the held to maturity portfolio. Management considers the effects of past events, current conditions, and reasonable and supportable forecasts on the collectability of the portfolio. The Company’s estimate of its allowance for credit losses involves a high degree of judgment; therefore, management’s process for determining expected credit losses may result in a range of expected credit losses. Management monitors the held to maturity portfolio to determine whether a valuation account would need to be recorded. As of December 31, 2023, the Company had $19,632 of held to maturity securities and no related valuation account. For available for sale debt securities in an unrealized loss position, the Company will first assess whether (i) it intends to sell or (ii) it is more likely than not that it will be required to sell the debt security before recovery of its amortized cost basis. If either case is applicable, any previously recognized allowances are charged off and the debt security’s amortized cost is written down to fair value through income. If neither case is applicable, the debt security is evaluated to determine whether the decline in fair value has resulted from credit losses or other factors. In making this assessment, the Company considers the extent to which fair value is less than amortized cost, any changes to the rating of the debt security by a rating agency and any adverse conditions specifically related to the debt security, among other factors. If this assessment indicates that a credit loss exists, the present value of cash flows expected to be collected from the debt security are compared to the amortized cost basis of the debt security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance for credit losses is recorded for the credit loss, limited by the amount by which the fair value is less than the amortized cost basis. Any impairment that has not been recorded through allowance for credit losses is recognized in other comprehensive income (loss), net of tax. Adjustments to the allowance are reported in the income statement as a component of credit loss expense. Available for sale debt securities are charged off against the allowance or, in the absence of any allowance, written down through income when deemed uncollectible by the Company or when either of the aforementioned criteria regarding intent or requirement to sell is met. The Company excludes the accrued interest receivable balance from the amortized cost basis in measuring expected credit losses on debt securities and does not record an allowance for credit losses on accrued interest receivable. The accrued interest receivable on securities was $1,147 and $1,106 at December 31, 2023 and December 31, 2022, respectively. 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 statement of income.
Restricted Equity Securities	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 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 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 credit 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.
Allowance for Loan Losses	Allowance for Credit Losses As described below under Recent Accounting Pronouncements, the Company adopted Accounting Standards Update (ASU) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (CECL) effective January 1, 2023. The allowance for credit losses is based on the Company’s evaluation of the loan portfolios, past loan loss experience, current asset quality trends, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay (including the timing of future payment), the estimated value of any underlying collateral, composition of the loan portfolio, economic conditions, industry and peer bank loan quality indications and other pertinent factors, including regulatory recommendations. The process is inherently subjective and subject to significant change as it requires material estimates. The allowance is increased by a provision for credit losses, which is charged to expense, and reduced by charge offs, net of recoveries. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the allowance for credit losses. Such agencies may require the Company to recognize adjustments to the allowance based on their judgments about information available to them at the time of their examination. Loans with similar risk characteristics are evaluated in pools and, depending on the nature of each identified pool, the Company utilizes a discounted cash flow, probability of default / loss given default, or remaining life method. The historical loss experience estimate by pool is then adjusted by forecast factors that are quantitatively related to the Company’s historical credit loss experience, such as national unemployment rates and gross domestic product. Losses are predicted over a period of time determined to be reasonable and supportable, and at the end of the reasonable and supportable period losses are reverted to long term historical averages. The reasonable and supportable period and reversion period are re-evaluated each quarter by the Company and are dependent on the current economic environment among other factors. The estimated credit losses for each loan pool are then adjusted for changes in qualitative factors not inherently considered in the quantitative analyses. The qualitative adjustments either increase or decrease the quantitative model estimation. The Company considers factors that are relevant within the qualitative framework which include the following: changes in lending policies and quality of loan reviews, changes in nature and volume of loans, changes in volume and trends of problem loans, changes in concentration risk, trends in underlying collateral values, changes in competition, legal and regulatory environment and changes in economic conditions. Allowance for Credit Losses (Continued) Credit losses for loans that no longer share similar risk characteristics with the collectively evaluated pools are excluded from the collective evaluation and estimated on an individual basis. Specific allowances are estimated based on one of several methods, including the estimated fair value of the underlying collateral, observable market value of similar debt or the present value of expected cash flows. The Company measures expected credit losses over the contractual term of a loan, adjusted for estimated prepayments. The contractual term excludes expected extensions, renewals and modifications unless there is a reasonable expectation that a loan modification will be executed. Credit losses are estimated on the amortized cost basis of loans. Accrued interest receivable on loans is excluded from the estimate of credit losses. The accrued interest receivable on loans was $7,377 and $5,720 at December 31, 2023 and December 31, 2022, respectively. Off-Balance Sheet Credit Exposure The Company also has off-balance sheet financial instruments, which include unfunded credit commitments and letters of credit. The Company minimizes these risks through underwriting guidelines and prudent risk management techniques. For off-balance sheet instruments, the allowance for credit losses is calculated in accordance with Topic 326, representing expected credit losses over the contractual period for which the Company is exposed to credit risk resulting from a contractual obligation to extend credit. No allowance is recognized if the Company has the unconditional right to cancel the obligation. The allowance is reported as a component of other liabilities within the consolidated balance sheets. Adjustments to the allowance for credit losses for unfunded commitments are reported in the income statement as a component of other operating expense. At December 31, 2023, $1,239 in allowance for credit losses has been recognized on off-balance sheet financial instruments. Modifications to Borrowers Experiencing Financial Difficulty The Company periodically provides modifications to borrowers experiencing financial difficulty. These modifications include either payment deferrals, term extensions, interest rate reductions, principal forgiveness or combinations of modification types. The determination of whether the borrower is experiencing financial difficulty is made on the date of the modification. When principal forgiveness is provided, the amount of principal forgiveness is charged off against the allowance for credit losses with a corresponding reduction in the amortized cost basis of the loan. A modified loan is tracked for at least 12 months following the modifications granted. The Company has no unfunded commitments to borrowers experiencing financial difficulty for which the Company has modified their loans as of December 31, 2023.
Troubled Debt Restructurings	Troubled Debt Restructurings Prior to the adoption of ASU 2016-13 and ASU 2022-02, 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	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.
Leases	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	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	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 credit 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 and Core Deposit Intangible	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 December 31, 2023. Goodwill is not amortized but is evaluated for impairment on a quarterly 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 2023. The qualitative factors considered in determining if fair value of the unit was less than the carrying amount were economic conditions related to 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 December 31, 2023 and based on that evaluation there was no impairment.
Accounting Policy for Derivative Instruments and Hedging Activities	Accounting Policy for Derivative Instruments and Hedging Activities Financial Accounting Standards Board (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 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. 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 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. 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, restricted stock units and stock grants.
Comprehensive Income (Loss)	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 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	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	Recent Accounting Pronouncements On January 1, 2023, the Company adopted ASU 2022-02, “Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures”, this standard eliminated the previous accounting guidance for troubled debt restructurings and added additional disclosure requirements for gross charge offs by year of origination. It also prescribes guidance for reporting modifications of loans to borrowers experiencing financial difficulty. The Company adopted these standards as required on January 1, 2023 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet credit exposures. In June 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments. The ASU introduces a new credit loss methodology, Current Expected Credit Losses (CECL), which requires earlier recognition of credit losses, while also providing additional transparency about credit risk. Since its original issuance in 2016, the FASB has issued several updates to the original ASU. The CECL methodology utilizes a lifetime “expected credit loss” measurement objective for the recognition of credit losses for loans, off-balance sheet credit exposures, and other receivables at the time the financial asset is originated or acquired. The expected credit losses are adjusted each period for changes in expected lifetime credit losses. The methodology replaces the multiple existing impairment methods in current GAAP, which generally require that a loss be incurred before it is recognized. For available for sale securities where fair value is less than cost, credit-related impairment, if any, is recognized through an allowance for credit losses and adjusted each period for changes in credit risk. The Company adopted ASU 2016-13 on January 1, 2023 with no material impact on the consolidated financial statements. The Company has not restated comparative information for 2022 and, therefore, the comparative information for 2022 is reported under the old methodology and is not comparable to the information presented for 2023.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) office	Dec. 31, 2022 USD ($)
Finite-Lived Intangible Assets [Line Items]
Number of loan production offices \| office	2
Reserve balances, federal reserve bank	$ 0	$ 0
Securities held to maturity, at amortized cost ($16,233 at fair value, $0 allowance for credit losses at December 31, 2023; $15,365 at fair value, $0 allowance for credit losses at December 31, 2022)	19,632,000	19,652,000
Accrued interest receivable on securities	$ 1,147,000	$ 1,106,000
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Accrued interest receivable	Accrued interest receivable
Accrued interest receivable on loans	$ 7,377,000	$ 5,720,000
Financing Receivable, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Accrued interest receivable	Accrued interest receivable
Goodwill, impairment loss	$ 0
Accounting Standards Update 2016-13
Finite-Lived Intangible Assets [Line Items]
Allowance for credit losses	$ 1,239,000
Core Deposits
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, remaining amortization period	7 years
Impairment of intangible assets, finite-lived	$ 0

BORROWINGS (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Debt

Borrowings consist of the following:


	December 31,
	2023		2022
Short-term variable $25,000 line of credit with interest due quarterly at the WSJ Prime Rate, maturity August 2024.	$	(6)	$	(19)

Short-term fixed rate Federal Home Loan Bank advances with interest and principal payments due at various maturity dates through 2024 and interest rates ranging from 0.31% to 5.57%.	58,000		31,000

Short-term fixed rate federal funds with principal and interest due January 2024 at a fixed interest rate of 8.0%.	10,000		—

Short-term Federal Reserve Bank discount window advance with principal and interest due February 2024 at a fixed interest rate of 5.5%.	10,000		—

Short-term Bank Term Funding Program from the Federal Reserve Bank advance with principal and interest due December 2024 at a fixed interest rate of 4.97%.	7,000		—

Short-term fixed rate Federal Home Loan Bank advances with interest and principal payments due at various maturity dates through 2025 and interest rate of 5.51%.	12,000		—

Subordinated notes with interest due quarterly at an initial fixed rate of 3.5% until February 7, 2027, then will reset quarterly to a Three-Month Term Secured Overnight Financing Rate plus 205 basis points through maturity on February 7, 2032.	47,318		47,097

Subordinated notes with interest due quarterly at an initial fixed rate of 7.0% until October 26, 2027, then will reset quarterly to a Three-Month Term Secured Overnight Financing Rate plus 306 basis points through maturity on October 26, 2032.	39,361		39,217
	$	183,673	$	117,295

Schedule of Maturities of Long-term Debt

Contractual maturities of other borrowings as of December 31, 2023 are as follows:


2024	$	84,994
2025	12,000
2026	—
2027	—
2028	—
Thereafter	86,679
Total	$	183,673

PARENT COMPANY FINANCIAL INFORMATION - Schedule of Condensed Income Statement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Income
Total interest income	$ 132,260	$ 82,850
Expense
Interest expense	52,148	11,512
Income tax benefits	(9,068)	(7,725)
Net income	31,952	27,071
Southern States Bancshares, Inc.
Income
Dividend income from subsidiary	3,150	3,167
Dividend income from equity securities	(5)	136
Gain on equity securities	574	0
Total interest income	3,719	3,303
Expense
Interest expense	4,903	2,315
Other	2,100	2,258
Operating expenses	7,003	4,573
Loss before income tax benefits and equity in undistributed earnings of subsidiary	(3,284)	(1,270)
Income tax benefits	1,530	827
Loss before equity in undistributed earnings of subsidiary	(1,754)	(443)
Equity in undistributed earnings of subsidiary	33,706	27,514
Net income	$ 31,952	$ 27,071

FORECLOSED ASSETS - Schedule of Foreclosed Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Foreclosed Assets [Roll Forward]
Balance, beginning of year	$ 2,930	$ 2,930
Acquired through settlement of loans	43	0
Sales proceeds	(403)	0
Transfers to loans	(2,517)	0
Net loss on sales of foreclosed assets	(20)	0
Balance, end of year	33	2,930
Other real estate	$ 0	$ 60

BORROWINGS - Narrative (Details) - USD ($)			12 Months Ended
BORROWINGS - Narrative (Details) - USD ($)	Oct. 26, 2022	Feb. 07, 2022	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
FHLB advances			$ 70,000,000	$ 31,000,000
Long-term debt			$ 183,673,000
Line of Credit
Debt Instrument [Line Items]
Percent of capital stock used as collateral			100.00%
Federal Home Loan Bank advances
Debt Instrument [Line Items]
FHLB advances			$ 70,000,000
FHLB, amount available			162,676,000
Federal Home Loan Bank advances \| Commercial
Debt Instrument [Line Items]
Debt instrument, collateral amount			185,449,000
Federal Home Loan Bank advances \| Residential
Debt Instrument [Line Items]
Debt instrument, collateral amount			41,751,000
Federal Home Loan Bank advances \| Home Equity Line of Credit
Debt Instrument [Line Items]
Debt instrument, collateral amount			5,476,000
Subordinated Debt \| Subordinated Notes due February 2032
Debt Instrument [Line Items]
Face amount		$ 48,000,000
Interest rate, stated percentage		3.50%
Debt issuance costs, gross		$ 1,093,000
Debt issuance costs, net			$ 682,000
Amortization period			60 months
Subordinated Debt \| Subordinated Notes due February 2032 \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate		2.05%
Subordinated Debt \| Subordinated Notes due October 2032
Debt Instrument [Line Items]
Face amount	$ 40,000,000
Interest rate, stated percentage	7.00%
Debt issuance costs, gross	$ 832
Debt issuance costs, net			$ 639,000
Amortization period			60 months
Subordinated Debt \| Subordinated Notes due October 2032 \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Basis spread on variable rate	3.06%
Federal Funds Repaid in January 2024
Debt Instrument [Line Items]
Line of credit, available borrowing capacity			$ 89,200,000
Federal funds purchased			10,000,000	$ 0
Federal Reserve Bank Due February 2024
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity			295,676,000
FHLB, amount available			285,676,000
Federal funds purchased			10,000,000
Bank Term Funding Program From Federal Reserve Bank Due December 2024
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity			11,265,000
FHLB, amount available			4,265,000
Federal funds purchased			$ 7,000,000