0001628280-24-037126 | 10-Q | XBRL Viewer | Southern States Bancshares INC

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Values of Derivative Instruments on the Balance Sheet


June 30, 2024						December 31, 2023
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	$	104,885	Other Assets	$	7,566	Interest Rate Products	$	104,180	Other Assets	$	7,691
Interest Rate Products	104,885		Other Liabilities	(7,582)		Interest Rate Products	104,180		Other Liabilities	(7,726)

SECURITIES

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

SECURITIES

The amortized cost and fair value of securities at June 30, 2024 and December 31, 2023 are summarized as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
June 30, 2024
Securities Available for Sale
U.S. Treasury securities	$	9,699	$	—	$	(1,005)	$	8,694
U.S. Government Sponsored Enterprises (GSEs)	2,282		26		(212)		2,096
State and municipal securities	45,661		13		(4,775)		40,899
Corporate debt securities	12,513		—		(1,080)		11,433
Asset based securities	16,934		133		(437)		16,630
Mortgage-backed GSE residential/multifamily and non-GSE	108,681		141		(4,064)		104,758
Total securities available for sale	$	195,770	$	313	$	(11,573)	$	184,510

Securities Held to Maturity


State and municipal securities	19,621		—		(3,562)		16,059



Total securities held to maturity	$	19,621	$	—	$	(3,562)	$	16,059
Total securities	$	215,391	$	313	$	(15,135)	$	200,569


	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

Securities with a carrying value of $25,441 and $27,477 at June 30, 2024 and December 31, 2023, respectively, were pledged to secure public deposits and for other purposes as required or permitted by law.

The amortized cost and fair value of securities available for sale and securities held to maturity as of June 30, 2024 and December 31, 2023 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:


	June 30, 2024				December 31, 2023
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Securities Available for Sale
Due in less than one year	$	2,133	$	2,091	$	482	$	476
Due from one year to five years	10,953		10,049		11,671		10,855
Due after five to ten years	22,158		19,959		22,537		20,439
Due after ten years	51,845		47,653		54,326		50,285
Mortgage-backed securities	108,681		104,758		101,306		96,945
Total securities available for sale	$	195,770	$	184,510	$	190,322	$	179,000

Securities Held to Maturity
Due in less than one year	$	—	$	—	$	—	$	—
Due from one year to five years	—		—		—		—
Due after five to ten years	10,785		8,911		7,743		6,483
Due after ten years	8,836		7,148		11,889		9,750
Mortgage-backed securities	—		—		—		—
Total securities held to maturity	$	19,621	$	16,059	$	19,632	$	16,233
Total securities	$	215,391	$	200,569	$	209,954	$	195,233

Gains and losses on sales and change in value of securities available for sale and other equity securities held at fair value for the three and six months ended June 30, 2024 and June 30, 2023 consist of the following:


	For the Three Months Ended				For the Six Months Ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023

Gross gains	$	32	$	16	$	32	$	678
Gross losses	(12)		(61)		(24)		(209)
Net realized gain (loss)	$	20	$	(45)	$	8	$	469

Restricted equity securities as of June 30, 2024 and December 31, 2023 consist of the following:


	June 30, 2024		December 31, 2023

Federal Home Loan Bank stock	$	3,708	$	4,759
First National Banker’s Bankshares, Inc. stock	675		675
Pacific Coast Banker’s Bank stock	250		250
Total restricted equity securities	$	4,633	$	5,684

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 June 30, 2024 and December 31, 2023.


	Less Than Twelve Months				Over Twelve Months
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Total Unrealized Losses
June 30, 2024
Securities Available for Sale
U.S. Treasury securities	$	—	$	—	$	(1,005)	$	8,694	$	(1,005)
U.S. Government Sponsored Enterprises (GSEs)	—		—		(212)		1,340		(212)
State and municipal securities	(15)		970		(4,760)		39,526		(4,775)
Corporate debt securities	—		—		(1,080)		11,433		(1,080)
Asset based securities	(5)		1,435		(432)		4,761		(437)
Mortgage-backed GSE residential/multifamily and non-GSE	(267)		31,582		(3,797)		52,599		(4,064)
Total securities available for sale	$	(287)	$	33,987	$	(11,286)	$	118,353	$	(11,573)

Securities Held to Maturity


State and municipal securities	—		—		(3,562)		16,059		(3,562)



Total securities held to maturity	$	—	$	—	$	(3,562)	$	16,059	$	(3,562)
Total securities	$	(287)	$	33,987	$	(14,848)	$	134,412	$	(15,135)


	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)

The unrealized losses on 238 securities at June 30, 2024 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 June 30, 2024.

At June 30, 2024, 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 June 30, 2024, 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 June 30, 2024. All debt securities in an unrealized loss position as of June 30, 2024 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.

SUBSEQUENT EVENTS (Details) - Subsequent Event - CBB Bancorp	Jul. 31, 2024 $ / shares
Subsequent Event [Line Items]
Merger agreement, conversion ratio for acquiree stock (in shares)	1.550
Merger agreement, conversion of acquiree stock for cash (in USD per share)	$ 45.63
Merger agreement, limitation on acquiree stock to cash conversion, percentage of outstanding shares	10.00%

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2024	Aug. 12, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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 per share
Trading Symbol	SSBK
Security Exchange Name	NASDAQ
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
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		8,916,472
Entity Central Index Key	0001689731
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2

LOANS - Schedule of Credit Quality Indicators (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	$ 159,442	$ 403,750
2023-2022	407,744	576,496
2022-2021	579,489	351,083
2021-2020	327,088	169,732
2020-2019	160,492	78,403
Prior	226,472	166,352
Revolving Loans	161,150	144,861
Total	2,021,877	1,890,677
2024-2023, charge offs	10	424
2023-2022, charge offs	15	57
2022-2021, charge offs	826	169
2021-2020, charge offs	38	44
2020-2019, charge offs	0	0
Prior, charge offs	11	0
Revolving Loans, charge offs	0	3
Total, charge offs	900	697
Collateral dependent loans	26,699	19,846
ACL	1,368	1,366
Real Estate
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	18,324	16,704
Other
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	8,375	3,142
Real Estate Mortgages: \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	36,972	48,141
2023-2022	52,211	139,291
2022-2021	119,865	39,679
2021-2020	14,506	1,721
2020-2019	1,691	1,969
Prior	9,954	9,643
Revolving Loans	7,374	2,516
Total	242,573	242,960
2024-2023, charge offs	0	0
2023-2022, charge offs	0	0
2022-2021, charge offs	0	0
2021-2020, charge offs	0	0
2020-2019, charge offs	0	0
Prior, charge offs	0	0
Revolving Loans, charge offs	0	3
Total, charge offs	0	3
Collateral dependent loans	144	210
ACL	27	31
Real Estate Mortgages: \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	30,175	51,216
2023-2022	51,204	54,728
2022-2021	55,356	23,808
2021-2020	20,862	42,071
2020-2019	41,074	6,649
Prior	17,228	12,945
Revolving Loans	33,599	33,186
Total	249,498	224,603
2024-2023, charge offs	0	0
2023-2022, charge offs	0	0
2022-2021, charge offs	0	0
2021-2020, charge offs	0	0
2020-2019, charge offs	0	0
Prior, charge offs	11	0
Revolving Loans, charge offs	0	0
Total, charge offs	11	0
Collateral dependent loans	905	980
ACL	145	72
Real Estate Mortgages: \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	60,778	233,494
2023-2022	234,940	328,788
2022-2021	355,169	266,658
2021-2020	273,434	101,690
2020-2019	97,257	64,320
Prior	187,533	135,232
Revolving Loans	13,628	14,685
Total	1,222,739	1,144,867
2024-2023, charge offs	0	0
2023-2022, charge offs	0	0
2022-2021, charge offs	0	0
2021-2020, charge offs	38	0
2020-2019, charge offs	0	0
Prior, charge offs	0	0
Revolving Loans, charge offs	0	0
Total, charge offs	38	0
Collateral dependent loans	17,275	15,514
ACL	721	162
Real Estate Mortgages: \| Real Estate \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	144	210
Real Estate Mortgages: \| Real Estate \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	905	980
Real Estate Mortgages: \| Real Estate \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	17,275	15,514
Real Estate Mortgages: \| Other \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	0	0
Real Estate Mortgages: \| Other \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	0	0
Real Estate Mortgages: \| Other \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	0	0
Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	29,727	68,608
2023-2022	67,850	52,578
2022-2021	48,275	20,646
2021-2020	18,139	24,101
2020-2019	20,425	5,149
Prior	10,506	7,257
Revolving Loans	102,579	91,622
Total	297,501	269,961
2024-2023, charge offs	0	424
2023-2022, charge offs	0	51
2022-2021, charge offs	826	167
2021-2020, charge offs	0	44
2020-2019, charge offs	0	0
Prior, charge offs	0	0
Revolving Loans, charge offs	0	0
Total, charge offs	826	686
Collateral dependent loans	8,359	3,131
ACL	475	1,100
Commercial and industrial \| Real Estate
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	0	0
Commercial and industrial \| Other
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	8,359	3,131
Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	1,790	2,291
2023-2022	1,539	1,111
2022-2021	824	292
2021-2020	147	149
2020-2019	45	316
Prior	1,251	1,275
Revolving Loans	3,970	2,852
Total	9,566	8,286
2024-2023, charge offs	10	0
2023-2022, charge offs	15	6
2022-2021, charge offs	0	2
2021-2020, charge offs	0	0
2020-2019, charge offs	0	0
Prior, charge offs	0	0
Revolving Loans, charge offs	0	0
Total, charge offs	25	8
Collateral dependent loans	16	11
ACL	0	1
Consumer and other \| Real Estate
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	0	0
Consumer and other \| Other
Financing Receivable, Credit Quality Indicator [Line Items]
Collateral dependent loans	16	11
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	158,468	402,883
2023-2022	398,423	574,386
2022-2021	578,348	340,412
2021-2020	319,147	164,398
2020-2019	159,990	77,445
Prior	212,947	151,636
Revolving Loans	149,887	141,259
Total	1,977,210	1,852,419
Pass \| Real Estate Mortgages: \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	36,972	48,141
2023-2022	52,211	139,291
2022-2021	119,865	39,679
2021-2020	14,506	1,721
2020-2019	1,691	1,969
Prior	5,562	5,214
Revolving Loans	7,374	2,516
Total	238,181	238,531
Pass \| Real Estate Mortgages: \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	30,175	51,135
2023-2022	51,123	54,610
2022-2021	55,245	23,808
2021-2020	20,862	42,071
2020-2019	41,074	6,496
Prior	16,964	12,883
Revolving Loans	33,547	33,132
Total	248,990	224,135
Pass \| Real Estate Mortgages: \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	60,528	232,834
2023-2022	230,763	328,006
2022-2021	354,607	256,007
2021-2020	265,820	99,067
2020-2019	96,768	63,906
Prior	179,013	125,007
Revolving Loans	13,259	14,685
Total	1,200,758	1,119,512
Pass \| Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	29,003	68,482
2023-2022	62,787	51,368
2022-2021	47,807	20,626
2021-2020	17,819	21,390
2020-2019	20,412	4,758
Prior	10,157	7,257
Revolving Loans	91,737	88,074
Total	279,722	261,955
Pass \| Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	1,790	2,291
2023-2022	1,539	1,111
2022-2021	824	292
2021-2020	140	149
2020-2019	45	316
Prior	1,251	1,275
Revolving Loans	3,970	2,852
Total	9,559	8,286
Special Mention
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	967	207
2023-2022	4,980	350
2022-2021	0	2,840
2021-2020	310	5,334
2020-2019	13	586
Prior	8,003	8,919
Revolving Loans	7,293	1,873
Total	21,566	20,109
Special Mention \| Real Estate Mortgages: \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	0	0
2023-2022	0	0
2022-2021	0	0
2021-2020	0	0
2020-2019	0	0
Prior	4,392	4,429
Revolving Loans	0	0
Total	4,392	4,429
Special Mention \| Real Estate Mortgages: \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	0	81
2023-2022	81	0
2022-2021	0	0
2021-2020	0	0
2020-2019	0	0
Prior	0	0
Revolving Loans	0	0
Total	81	81
Special Mention \| Real Estate Mortgages: \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	250	0
2023-2022	3,519	350
2022-2021	0	2,840
2021-2020	0	2,623
2020-2019	0	414
Prior	3,262	4,490
Revolving Loans	369	0
Total	7,400	10,717
Special Mention \| Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	717	126
2023-2022	1,380	0
2022-2021	0	0
2021-2020	310	2,711
2020-2019	13	172
Prior	349	0
Revolving Loans	6,924	1,873
Total	9,693	4,882
Special Mention \| Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	0	0
2023-2022	0	0
2022-2021	0	0
2021-2020	0	0
2020-2019	0	0
Prior	0	0
Revolving Loans	0	0
Total	0	0
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	7	660
2023-2022	4,341	1,760
2022-2021	757	7,831
2021-2020	7,631	0
2020-2019	489	372
Prior	5,522	5,797
Revolving Loans	3,970	1,729
Total	22,717	18,149
Substandard \| Real Estate Mortgages: \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	0	0
2023-2022	0	0
2022-2021	0	0
2021-2020	0	0
2020-2019	0	0
Prior	0	0
Revolving Loans	0	0
Total	0	0
Substandard \| Real Estate Mortgages: \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	0	0
2023-2022	0	118
2022-2021	111	0
2021-2020	0	0
2020-2019	0	153
Prior	264	62
Revolving Loans	52	54
Total	427	387
Substandard \| Real Estate Mortgages: \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	0	660
2023-2022	658	432
2022-2021	562	7,811
2021-2020	7,614	0
2020-2019	489	0
Prior	5,258	5,735
Revolving Loans	0	0
Total	14,581	14,638
Substandard \| Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	7	0
2023-2022	3,683	1,210
2022-2021	84	20
2021-2020	10	0
2020-2019	0	219
Prior	0	0
Revolving Loans	3,918	1,675
Total	7,702	3,124
Substandard \| Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	0	0
2023-2022	0	0
2022-2021	0	0
2021-2020	7	0
2020-2019	0	0
Prior	0	0
Revolving Loans	0	0
Total	7	0
Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	0	0
2023-2022	0	0
2022-2021	384	0
2021-2020	0	0
2020-2019	0	0
Prior	0	0
Revolving Loans	0	0
Total	384	0
Doubtful \| Real Estate Mortgages: \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	0	0
2023-2022	0	0
2022-2021	0	0
2021-2020	0	0
2020-2019	0	0
Prior	0	0
Revolving Loans	0	0
Total	0	0
Doubtful \| Real Estate Mortgages: \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	0	0
2023-2022	0	0
2022-2021	0	0
2021-2020	0	0
2020-2019	0	0
Prior	0	0
Revolving Loans	0	0
Total	0	0
Doubtful \| Real Estate Mortgages: \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	0	0
2023-2022	0	0
2022-2021	0	0
2021-2020	0	0
2020-2019	0	0
Prior	0	0
Revolving Loans	0	0
Total	0	0
Doubtful \| Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	0	0
2023-2022	0	0
2022-2021	384	0
2021-2020	0	0
2020-2019	0	0
Prior	0	0
Revolving Loans	0	0
Total	384	0
Doubtful \| Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
2024-2023	0	0
2023-2022	0	0
2022-2021	0	0
2021-2020	0	0
2020-2019	0	0
Prior	0	0
Revolving Loans	0	0
Total	$ 0	$ 0

FAIR VALUE OF ASSETS AND LIABILITIES - Schedule of Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Financial assets:
Cash and cash equivalents	$ 238,372	$ 250,651
Securities available for sale	184,510	179,000
Other equity securities	3,658	3,649
Loans held for sale	1,716	450
Trading assets	7,566	7,691
Loans, net	1,989,606	1,860,130
Bank owned life insurance	33,000	29,884
Annuities	15,918	15,036
Accrued interest receivable	9,654	8,711
Restricted equity securities	4,633	5,684
Financial liabilities:
Deposits	2,175,678	2,018,189
Trading liabilities	7,582	7,726
FHLB advances	42,000	70,000
Other borrowings	8,000	26,994
Subordinated notes	86,873	86,679
Accrued interest payable	2,024	1,519
Fair Value, Inputs, Level 1
Financial assets:
Cash and cash equivalents	238,372	250,651
Securities available for sale	0	0
Other equity securities	3,658	3,649
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	184,510	179,000
Other equity securities	0	0
Loans held for sale	1,716	450
Trading assets	7,566	7,691
Loans, net	1,950,327	1,824,800
Bank owned life insurance	33,000	29,884
Annuities	15,918	15,036
Accrued interest receivable	9,654	8,711
Restricted equity securities	0	0
Financial liabilities:
Deposits	2,173,868	2,016,506
Trading liabilities	7,582	7,726
FHLB advances	41,971	70,029
Other borrowings	8,000	26,994
Subordinated notes	86,873	86,679
Accrued interest payable	2,024	1,519
Fair Value, Inputs, Level 3
Financial assets:
Cash and cash equivalents	0	0
Securities available for sale	0	0
Other equity securities	0	0
Loans held for sale	0	0
Trading assets	0	0
Loans, net	2,385	3,095
Bank owned life insurance	0	0
Annuities	0	0
Accrued interest receivable	0	0
Restricted equity securities	4,633	5,684
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

LOANS - Narrative (Details)	Jun. 30, 2024 loan_portfolio_segment
Credit Loss [Abstract]
Number of loan portfolio segments	3

DEPOSITS

6 Months Ended

Jun. 30, 2024

Banking and Thrift, Interest [Abstract]

DEPOSITS

Major classifications of deposits are as follows:


	June 30, 2024		December 31, 2023
Noninterest-bearing transaction	$	416,068	$	437,959
Interest-bearing transaction	1,006,687		946,347
Savings	32,527		35,412
Time deposits, $250,000 and under	612,299		500,406
Time deposits, over $250,000	108,097		98,065
Total	$	2,175,678	$	2,018,189

Brokered deposits totaled $288,328 at June 30, 2024 and $230,858 at December 31, 2023. The scheduled maturities of time deposits at June 30, 2024 are as follows:


July 1, 2024 to June 30, 2025	$	612,336
July 1, 2025 to June 30, 2026	67,616
July 1, 2026 to June 30, 2027	20,900
July 1, 2027 to June 30, 2028	11,273
July 1, 2028 to June 30, 2029	8,244
Thereafter	27
Total	$	720,396

At June 30, 2024 and December 31, 2023, overdrawn transaction accounts reclassified to loans totaled $158 and $174, respectively.

COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2024

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:


	June 30, 2024		December 31, 2023
Commitments to extend credit	$	397,104	$	501,935
Standby letters of credit	3,716		2,846
Total	$	400,820	$	504,781

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 that 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 six months ended June 30, 2024 and June 30, 2023.

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.

EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2024

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 Three Months Ended June 30,				For the Six Months Ended June 30,
	2024		2023		2024		2023
Basic Earnings Per Share:
Net Income	$	8,198	$	8,756	$	16,317	$	16,427
Weighted average common shares outstanding	8,957,608		8,763,635		8,935,542		8,763,046
Basic earnings per share	$	0.91	$	1.00	$	1.82	$	1.87
Diluted Earnings Per Share:
Net income allocated to common shareholders	$	8,190	$	8,750	$	16,306	$	16,418
Weighted average common shares outstanding	8,957,608		8,763,635		8,935,542		8,763,046
Net dilutive effect of:
Assumed exercises of stock options and vesting of restricted stock units	112,960		187,212		127,006		238,554
Average shares and dilutive potential common shares	9,070,568		8,950,847		9,062,548		9,001,600
Dilutive earnings per share	$	0.90	$	0.98	$	1.80	$	1.82

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2024

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

REGULATORY MATTERS - Schedule of Regulatory Capital and Ratios (Details) $ in Thousands	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Company
Tier 1 capital (to average assets)
Actual amount	$ 221,315	$ 205,582
Actual ratio	0.0872	0.0899
Required for capital adequacy purposes, amount	$ 101,475	$ 91,503
Required for capital adequacy purposes, ratio	0.0400	0.0400
CET 1 capital (to risk-weighted assets)
Actual amount	$ 221,315	$ 205,582
Actual ratio	0.0954	0.0920
Required for capital adequacy purposes, amount	$ 162,336	$ 156,378
Required for capital adequacy purposes, ratio	0.0700	0.0700
Tier 1 capital (to risk-weighted assets)
Actual amount	$ 221,315	$ 205,582
Actual ratio	0.0954	0.0920
Required for capital adequacy purposes, amount	$ 197,122	$ 189,888
Required for capital adequacy purposes, ratio	0.0850	0.0850
Total capital (to risk-weighted assets)
Actual amount	$ 336,349	$ 319,199
Actual ratio	0.1450	0.1429
Required for capital adequacy purposes, amount	$ 243,503	$ 234,568
Required for capital adequacy purposes, ratio	0.1050	0.1050
The Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Retained earnings available for dividend declaration without regulatory approval	$ 89,859
Tier 1 capital (to average assets)
Actual amount	$ 292,348	$ 274,850
Actual ratio	0.1152	0.1201
Required for capital adequacy purposes, amount	$ 101,475	$ 91,503
Required for capital adequacy purposes, ratio	0.0400	0.0400
Minimums to be “well capitalized” under prompt corrective action, amount	$ 126,843	$ 114,379
Minimums to be “well capitalized” under prompt corrective action, ratio	0.0500	0.0500
CET 1 capital (to risk-weighted assets)
Actual amount	$ 292,348	$ 274,850
Actual ratio	0.1261	0.1230
Required for capital adequacy purposes, amount	$ 162,336	$ 156,378
Required for capital adequacy purposes, ratio	0.0700	0.0700
Minimums to be “well capitalized” under prompt corrective action, amount	$ 150,740	$ 145,209
Minimums to be “well capitalized” under prompt corrective action, ratio	0.0650	0.0650
Tier 1 capital (to risk-weighted assets)
Actual amount	$ 292,348	$ 274,850
Actual ratio	0.1261	0.1230
Required for capital adequacy purposes, amount	$ 197,122	$ 189,888
Required for capital adequacy purposes, ratio	0.0850	0.0850
Minimums to be “well capitalized” under prompt corrective action, amount	$ 185,526	$ 178,718
Minimums to be “well capitalized” under prompt corrective action, ratio	0.0800	0.0800
Total capital (to risk-weighted assets)
Actual amount	$ 319,382	$ 300,467
Actual ratio	0.1377	0.1345
Required for capital adequacy purposes, amount	$ 243,503	$ 234,568
Required for capital adequacy purposes, ratio	0.1050	0.1050
Minimums to be “well capitalized” under prompt corrective action, amount	$ 231,908	$ 223,398
Minimums to be “well capitalized” under prompt corrective action, ratio	0.1000	0.1000

SECURITIES - Schedule of Continuous Unrealized Loss Position (Details) $ in Thousands	Jun. 30, 2024 USD ($) loan	Dec. 31, 2023 USD ($)
Gross Unrealized Losses
Less Than Twelve Months	$ (287)	$ (279)
Over Twelve Months	(11,286)	(11,319)
Total Unrealized Losses	(11,573)	(11,598)
Fair Value
Less Than Twelve Months	33,987	25,810
Over Twelve Months	118,353	125,132
Gross Unrealized Losses
Less Than Twelve Months	0	0
Over Twelve Months	(3,562)	(3,399)
Total Unrealized Losses	(3,562)	(3,399)
Fair Value
Less Than Twelve Months	0	0
Over Twelve Months	16,059	16,233
Gross Unrealized Losses
Less Than Twelve Months	(287)	(279)
Over Twelve Months	(14,848)	(14,718)
Total Unrealized Losses	(15,135)	(14,997)
Fair Value
Less Than Twelve Months	33,987	25,810
Over Twelve Months	$ 134,412	141,365
Number of securities in loss position \| loan	238
U.S. Treasury securities
Gross Unrealized Losses
Less Than Twelve Months	$ 0	0
Over Twelve Months	(1,005)	(949)
Total Unrealized Losses	(1,005)	(949)
Fair Value
Less Than Twelve Months	0	0
Over Twelve Months	8,694	8,772
U.S. Government Sponsored Enterprises (GSEs)
Gross Unrealized Losses
Less Than Twelve Months	0	0
Over Twelve Months	(212)	(215)
Total Unrealized Losses	(212)	(215)
Fair Value
Less Than Twelve Months	0	0
Over Twelve Months	1,340	1,451
State and municipal securities
Gross Unrealized Losses
Less Than Twelve Months	(15)	0
Over Twelve Months	(4,760)	(4,172)
Total Unrealized Losses	(4,775)	(4,172)
Fair Value
Less Than Twelve Months	970	0
Over Twelve Months	39,526	40,663
Gross Unrealized Losses
Less Than Twelve Months	0	0
Over Twelve Months	(3,562)	(3,399)
Total Unrealized Losses	(3,562)	(3,399)
Fair Value
Less Than Twelve Months	0	0
Over Twelve Months	16,059	16,233
Corporate debt securities
Gross Unrealized Losses
Less Than Twelve Months	0	0
Over Twelve Months	(1,080)	(1,258)
Total Unrealized Losses	(1,080)	(1,258)
Fair Value
Less Than Twelve Months	0	0
Over Twelve Months	11,433	11,259
Asset based securities
Gross Unrealized Losses
Less Than Twelve Months	(5)	(11)
Over Twelve Months	(432)	(468)
Total Unrealized Losses	(437)	(479)
Fair Value
Less Than Twelve Months	1,435	1,102
Over Twelve Months	4,761	6,904
Mortgage-backed GSE residential/multifamily and non-GSE
Gross Unrealized Losses
Less Than Twelve Months	(267)	(268)
Over Twelve Months	(3,797)	(4,257)
Total Unrealized Losses	(4,064)	(4,525)
Fair Value
Less Than Twelve Months	31,582	24,708
Over Twelve Months	$ 52,599	$ 56,083

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net Income	$ 8,198	$ 8,756	$ 16,317	$ 16,427
Other comprehensive income (loss):
Unrealized holding gains (losses) on securities available for sale arising during the period, net of (tax) benefit	68	(953)	46	240
Reclassification adjustment for losses (gains) on securities available for sale realized in net income, net of benefit (tax)	0	0	0	9
Other comprehensive income (loss)	68	(953)	46	249
Comprehensive income	$ 8,266	$ 7,803	$ 16,363	$ 16,676

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

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

+ References

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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 34: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B

Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	6 Months Ended
	Jun. 30, 2024 USD ($) office	Dec. 31, 2023 USD ($)
Finite-Lived Intangible Assets [Line Items]
Number of loan production offices \| office	2
Amortized Cost	$ 19,621,000	$ 19,632,000
Accrued interest receivable on securities	$ 1,145,000	$ 1,147,000
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	$ 8,332,000	$ 7,377,000
Financing Receivable, Accrued Interest, after Allowance for Credit Loss, Statement of Financial Position [Extensible Enumeration]	Accrued interest receivable	Accrued interest receivable
Allowance for credit losses	$ 1,206,000	$ 1,239,000
Goodwill, impairment loss	$ 0
Core Deposits
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, remaining amortization period	7 years
Impairment of intangible assets, finite-lived	$ 0

LOANS - Schedule of Composition of Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 2,021,877	$ 1,890,677
% of Total	100.00%	100.00%
Deferred loan fees	$ (6,443)	$ (6,169)
Allowance for credit losses	(25,828)	(24,378)	$ (21,385)	$ (20,156)
Loans, net	1,989,606	1,860,130
Real Estate Mortgages:
Financing Receivable, Credit Quality Indicator [Line Items]
Allowance for credit losses	(21,477)	(19,826)	(17,387)	(14,443)
Real Estate Mortgages: \| Construction and development
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 242,573	$ 242,960
% of Total	12.00%	12.90%
Real Estate Mortgages: \| Residential
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 249,498	$ 224,603
% of Total	12.30%	11.90%
Real Estate Mortgages: \| Commercial
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 1,222,739	$ 1,144,867
% of Total	60.50%	60.50%
Commercial and industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 297,501	$ 269,961
% of Total	14.70%	14.30%
Consumer and other
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 9,566	$ 8,286
% of Total	0.50%	0.40%
Allowance for credit losses	$ (93)	$ (86)	$ (127)	$ (71)

DEPOSITS - Schedule of Time Deposit Maturities (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Banking and Thrift, Interest [Abstract]
July 1, 2024 to June 30, 2025	$ 612,336
July 1, 2025 to June 30, 2026	67,616
July 1, 2026 to June 30, 2027	20,900
July 1, 2027 to June 30, 2028	11,273
July 1, 2028 to June 30, 2029	8,244
Thereafter	27
Total	$ 720,396

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
OPERATING ACTIVITIES
Net Income	$ 16,317	$ 16,427
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and software amortization	594	584
Net loss on securities available for sale	0	12
Net gain on other equity securities	(8)	(481)
Net amortization of securities	253	319
Amortization of core deposit intangible	164	163
Provision for credit losses	2,303	2,738
Deferred income taxes	15	47
(Gain) loss on sale of foreclosed assets	(3)	7
Stock-based compensation	489	474
Net increase in loans held for sale	(1,266)	(542)
Income from bank owned life insurance	(416)	(335)
Increase in interest receivable	(943)	(409)
Increase in interest payable	505	479
Net other operating activities	648	773
Net cash provided by operating activities	18,652	20,256
INVESTING ACTIVITIES
Purchase of securities available for sale	(23,944)	(23,992)
Proceeds from sale of securities available for sale	1,281	10,532
Proceeds from sale of other equity securities	0	703
Proceeds from maturities, calls, and paydowns of securities available for sale	16,972	5,933
Net redemption (purchase) of restricted equity securities	1,051	(728)
Purchase of annuities	(909)	0
Purchase of bank owned life insurance	(2,700)	0
Net increase in loans	(131,779)	(130,804)
Proceeds from sale of foreclosed assets	3	0
Purchase of premises, equipment and software	(360)	(196)
Net cash used in investing activities	(140,385)	(138,552)
FINANCING ACTIVITIES
Net increase in deposits	157,489	203,168
Proceeds from issuance of common stock	372	585
Proceeds from restricted stock units	0	363
Repurchase of common stock	0	(979)
Net repayment of FHLB advances	(28,000)	0
Repayments of other borrowings, net	(18,994)
Proceeds from other borrowings, net		14,006
Net proceeds of subordinated notes	194	171
Common stock dividends paid	(1,607)	(1,588)
Net cash provided by financing activities	109,454	215,726
Net (decrease) increase in cash and cash equivalents	(12,279)	97,430
Cash and cash equivalents at beginning of year	250,651	168,499
Cash and cash equivalents at end of year	238,372	265,929
Cash paid during the year for:
Interest	36,820	21,427
Income taxes	5,643	5,070
NONCASH TRANSACTIONS
Internally financed sale of foreclosed assets	$ 0	$ 53

STOCKHOLDERS’ EQUITY (Details) - shares	Jun. 30, 2024	Dec. 31, 2023
Equity [Abstract]
Common stock issued (in shares)	8,908,130	8,841,349
Common stock outstanding (in shares)	8,908,130	8,841,349

STOCKHOLDERS’ EQUITY	6 Months Ended
STOCKHOLDERS’ EQUITY	Jun. 30, 2024
Equity [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY As of June 30, 2024, the Company had 8,908,130 shares of common stock issued and outstanding and does not have any non-voting shares issued and outstanding. 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.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

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

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-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
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest income:
Loans, including fees	$ 35,421	$ 27,630	$ 69,049	$ 52,965
Taxable securities	2,039	1,641	4,020	3,024
Nontaxable securities	231	228	460	519
Other interest and dividends	3,316	2,686	6,214	4,376
Total interest income	41,007	32,185	79,743	60,884
Interest expense:
Deposits	17,511	10,998	33,417	18,766
Other borrowings	1,917	1,755	3,908	3,140
Total interest expense	19,428	12,753	37,325	21,906
Net interest income	21,579	19,432	42,418	38,978
Provision for credit losses	1,067	1,557	2,303	2,738
Net interest income after provision for credit losses	20,512	17,875	40,115	36,240
Noninterest income:
Service charges on deposit accounts	$ 462	$ 456	$ 925	$ 906
Revenue, Product and Service [Extensible Enumeration]	Deposit Account [Member]	Deposit Account [Member]	Deposit Account [Member]	Deposit Account [Member]
Swap fees	$ 4	$ 173	$ 19	$ 169
SBA/USDA fees	58	66	122	200
Mortgage origination fees	92	188	188	288
Net gain (loss) on securities	20	(45)	8	469
Employee retention credit	0	5,100	0	5,100
Other operating income	732	924	1,374	1,516
Total noninterest income	1,368	6,862	2,636	8,648
Noninterest expenses:
Salaries and employee benefits	6,112	7,863	12,343	14,174
Equipment and occupancy expenses	667	694	1,356	1,377
Data processing fees	686	646	1,329	1,239
Regulatory assessments	375	180	735	522
Professional fees related to ERC	0	1,243	0	1,243
Other operating expenses	3,571	2,806	6,023	5,035
Total noninterest expenses	11,411	13,432	21,786	23,590
Income before income taxes	10,469	11,305	20,965	21,298
Income tax expense	2,271	2,549	4,648	4,871
Net Income	$ 8,198	$ 8,756	$ 16,317	$ 16,427
Basic earnings per share (in dollars per share)	$ 0.91	$ 1.00	$ 1.82	$ 1.87
Dilutive earnings per share (in dollars per share)	$ 0.90	$ 0.98	$ 1.80	$ 1.82

SECURITIES - Schedule Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 195,770	$ 190,322
Gross Unrealized Gains	313	276
Gross Unrealized Losses	(11,573)	(11,598)
Fair Value	184,510	179,000
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	19,621	19,632
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(3,562)	(3,399)
Fair Value	16,059	16,233
Debt securities restricted	25,441	27,477
Total securities
Amortized Cost	215,391	209,954
Gross Unrealized Gains	313	276
Gross Unrealized Losses	(15,135)	(14,997)
Fair Value	200,569	195,233
U.S. Treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	9,699	9,721
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(1,005)	(949)
Fair Value	8,694	8,772
U.S. Government Sponsored Enterprises (GSEs)
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,282	2,446
Gross Unrealized Gains	26	37
Gross Unrealized Losses	(212)	(215)
Fair Value	2,096	2,268
State and municipal securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	45,661	45,220
Gross Unrealized Gains	13	21
Gross Unrealized Losses	(4,775)	(4,172)
Fair Value	40,899	41,069
Schedule of Held-to-maturity Securities [Line Items]
Amortized Cost	19,621	19,632
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(3,562)	(3,399)
Fair Value	16,059	16,233
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	12,513	12,517
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(1,080)	(1,258)
Fair Value	11,433	11,259
Asset based securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	16,934	19,112
Gross Unrealized Gains	133	54
Gross Unrealized Losses	(437)	(479)
Fair Value	16,630	18,687
Mortgage-backed GSE residential/multifamily and non-GSE
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	108,681	101,306
Gross Unrealized Gains	141	164
Gross Unrealized Losses	(4,064)	(4,525)
Fair Value	$ 104,758	$ 96,945

SUBORDINATED NOTES	6 Months Ended
SUBORDINATED NOTES	Jun. 30, 2024
Debt Disclosure [Abstract]
SUBORDINATED NOTES	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 3.5% 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 June 30, 2024, the remaining balance of the debt issuance cost was $572. 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 7.00% 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 June 30, 2024, the remaining balance of the debt issuance cost was $555. 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 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: 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 9: 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 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
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+ Details

CONCENTRATIONS OF CREDIT	6 Months Ended
CONCENTRATIONS OF CREDIT	Jun. 30, 2024
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 collectability 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 $63,426 or on an unsecured basis in excess of 10% of capital, as defined, or approximately $31,713.

REGULATORY MATTERS (Tables)

6 Months Ended

Jun. 30, 2024

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 June 30, 2024

Tier 1 capital (to average assets)
Company	$	221,315	8.72	%	$	101,475	4.00	%	$	—	—
Bank	$	292,348	11.52	%	$	101,475	4.00	%	$	126,843	5.00	%

CET 1 capital (to risk-weighted assets)
Company	$	221,315	9.54	%	$	162,336	7.00	%	$	—	—
Bank	$	292,348	12.61	%	$	162,336	7.00	%	$	150,740	6.50	%

Tier 1 capital (to risk-weighted assets)
Company	$	221,315	9.54	%	$	197,122	8.50	%	$	—	—
Bank	$	292,348	12.61	%	$	197,122	8.50	%	$	185,526	8.00	%

Total capital (to risk-weighted assets)
Company	$	336,349	14.50	%	$	243,503	10.50	%	$	—	—
Bank	$	319,382	13.77	%	$	243,503	10.50	%	$	231,908	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, 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	%

SECURITIES (Tables)

6 Months Ended

Jun. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Debt Securities, Available-for-sale

The amortized cost and fair value of securities at June 30, 2024 and December 31, 2023 are summarized as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
June 30, 2024
Securities Available for Sale
U.S. Treasury securities	$	9,699	$	—	$	(1,005)	$	8,694
U.S. Government Sponsored Enterprises (GSEs)	2,282		26		(212)		2,096
State and municipal securities	45,661		13		(4,775)		40,899
Corporate debt securities	12,513		—		(1,080)		11,433
Asset based securities	16,934		133		(437)		16,630
Mortgage-backed GSE residential/multifamily and non-GSE	108,681		141		(4,064)		104,758
Total securities available for sale	$	195,770	$	313	$	(11,573)	$	184,510

Securities Held to Maturity


State and municipal securities	19,621		—		(3,562)		16,059



Total securities held to maturity	$	19,621	$	—	$	(3,562)	$	16,059
Total securities	$	215,391	$	313	$	(15,135)	$	200,569


	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

Schedule of Debt Securities, Held-to-maturity

The amortized cost and fair value of securities at June 30, 2024 and December 31, 2023 are summarized as follows:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
June 30, 2024
Securities Available for Sale
U.S. Treasury securities	$	9,699	$	—	$	(1,005)	$	8,694
U.S. Government Sponsored Enterprises (GSEs)	2,282		26		(212)		2,096
State and municipal securities	45,661		13		(4,775)		40,899
Corporate debt securities	12,513		—		(1,080)		11,433
Asset based securities	16,934		133		(437)		16,630
Mortgage-backed GSE residential/multifamily and non-GSE	108,681		141		(4,064)		104,758
Total securities available for sale	$	195,770	$	313	$	(11,573)	$	184,510

Securities Held to Maturity


State and municipal securities	19,621		—		(3,562)		16,059



Total securities held to maturity	$	19,621	$	—	$	(3,562)	$	16,059
Total securities	$	215,391	$	313	$	(15,135)	$	200,569


	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

Schedule of Investments Classified by Contractual Maturity Date


	June 30, 2024				December 31, 2023
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Securities Available for Sale
Due in less than one year	$	2,133	$	2,091	$	482	$	476
Due from one year to five years	10,953		10,049		11,671		10,855
Due after five to ten years	22,158		19,959		22,537		20,439
Due after ten years	51,845		47,653		54,326		50,285
Mortgage-backed securities	108,681		104,758		101,306		96,945
Total securities available for sale	$	195,770	$	184,510	$	190,322	$	179,000

Securities Held to Maturity
Due in less than one year	$	—	$	—	$	—	$	—
Due from one year to five years	—		—		—		—
Due after five to ten years	10,785		8,911		7,743		6,483
Due after ten years	8,836		7,148		11,889		9,750
Mortgage-backed securities	—		—		—		—
Total securities held to maturity	$	19,621	$	16,059	$	19,632	$	16,233
Total securities	$	215,391	$	200,569	$	209,954	$	195,233

Schedule of Realized Gain (Loss)


	For the Three Months Ended				For the Six Months Ended
	June 30, 2024		June 30, 2023		June 30, 2024		June 30, 2023

Gross gains	$	32	$	16	$	32	$	678
Gross losses	(12)		(61)		(24)		(209)
Net realized gain (loss)	$	20	$	(45)	$	8	$	469

Schedule of Restricted Investments

Restricted equity securities as of June 30, 2024 and December 31, 2023 consist of the following:


	June 30, 2024		December 31, 2023

Federal Home Loan Bank stock	$	3,708	$	4,759
First National Banker’s Bankshares, Inc. stock	675		675
Pacific Coast Banker’s Bank stock	250		250
Total restricted equity securities	$	4,633	$	5,684

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


	Less Than Twelve Months				Over Twelve Months
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Total Unrealized Losses
June 30, 2024
Securities Available for Sale
U.S. Treasury securities	$	—	$	—	$	(1,005)	$	8,694	$	(1,005)
U.S. Government Sponsored Enterprises (GSEs)	—		—		(212)		1,340		(212)
State and municipal securities	(15)		970		(4,760)		39,526		(4,775)
Corporate debt securities	—		—		(1,080)		11,433		(1,080)
Asset based securities	(5)		1,435		(432)		4,761		(437)
Mortgage-backed GSE residential/multifamily and non-GSE	(267)		31,582		(3,797)		52,599		(4,064)
Total securities available for sale	$	(287)	$	33,987	$	(11,286)	$	118,353	$	(11,573)

Securities Held to Maturity


State and municipal securities	—		—		(3,562)		16,059		(3,562)



Total securities held to maturity	$	—	$	—	$	(3,562)	$	16,059	$	(3,562)
Total securities	$	(287)	$	33,987	$	(14,848)	$	134,412	$	(15,135)


	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)

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
June 30, 2024
Securities Available for Sale
U.S. Treasury securities	$	—	$	—	$	(1,005)	$	8,694	$	(1,005)
U.S. Government Sponsored Enterprises (GSEs)	—		—		(212)		1,340		(212)
State and municipal securities	(15)		970		(4,760)		39,526		(4,775)
Corporate debt securities	—		—		(1,080)		11,433		(1,080)
Asset based securities	(5)		1,435		(432)		4,761		(437)
Mortgage-backed GSE residential/multifamily and non-GSE	(267)		31,582		(3,797)		52,599		(4,064)
Total securities available for sale	$	(287)	$	33,987	$	(11,286)	$	118,353	$	(11,573)

Securities Held to Maturity


State and municipal securities	—		—		(3,562)		16,059		(3,562)



Total securities held to maturity	$	—	$	—	$	(3,562)	$	16,059	$	(3,562)
Total securities	$	(287)	$	33,987	$	(14,848)	$	134,412	$	(15,135)


	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)

- 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
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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
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (f)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5A

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5A

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5A

Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B

Reference 16: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B

Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B

Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-5B

+ Details

COMMITMENTS AND CONTINGENCIES - Schedule of Loan Commitments (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Guarantor Obligations [Line Items]
Exposure to credit loss	$ 400,820	$ 504,781
Commitments to extend credit
Guarantor Obligations [Line Items]
Exposure to credit loss	397,104	501,935
Standby letters of credit
Guarantor Obligations [Line Items]
Exposure to credit loss	$ 3,716	$ 2,846

LOANS - Schedule of Aging Analysis (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	$ 2,021,877		$ 1,890,677
Nonaccrual with ACL	2,470		347
Nonaccrual without ACL	1,314		670
Nonaccrual loans interest income	135	$ 31
Real Estate Mortgages: \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	242,573		242,960
Nonaccrual with ACL	0		0
Nonaccrual without ACL	0		0
Real Estate Mortgages: \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	249,498		224,603
Nonaccrual with ACL	22		23
Nonaccrual without ACL	371		228
Real Estate Mortgages: \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,222,739		1,144,867
Nonaccrual with ACL	1,973		324
Nonaccrual without ACL	209		442
Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	297,501		269,961
Nonaccrual with ACL	475		0
Nonaccrual without ACL	734		0
Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	9,566		8,286
Nonaccrual with ACL	0		0
Nonaccrual without ACL	0		0
Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	2,012,285		1,883,954
Current \| Real Estate Mortgages: \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	242,415		242,315
Current \| Real Estate Mortgages: \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	248,830		223,195
Current \| Real Estate Mortgages: \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,219,120		1,140,587
Current \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	292,371		269,598
Current \| Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	9,549		8,259
Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	5,808		5,706
Total Past Due \| Real Estate Mortgages: \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	158		645
Total Past Due \| Real Estate Mortgages: \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	275		1,157
Total Past Due \| Real Estate Mortgages: \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,437		3,514
Total Past Due \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	3,921		363
Total Past Due \| Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	17		27
30-59 Days
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	5,777		5,224
30-59 Days \| Real Estate Mortgages: \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	158		591
30-59 Days \| Real Estate Mortgages: \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	275		1,106
30-59 Days \| Real Estate Mortgages: \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,437		3,245
30-59 Days \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	3,897		265
30-59 Days \| Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	10		17
60-89 Days
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	31		322
60-89 Days \| Real Estate Mortgages: \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0		54
60-89 Days \| Real Estate Mortgages: \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0		0
60-89 Days \| Real Estate Mortgages: \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0		160
60-89 Days \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	24		98
60-89 Days \| Consumer and other
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	7		10
90+ Days
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0		160
90+ Days \| Real Estate Mortgages: \| Construction and development
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0		0
90+ Days \| Real Estate Mortgages: \| Residential
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0		51
90+ Days \| Real Estate Mortgages: \| Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0		109
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

SECURITIES - Schedule of Realized Gain (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Gross gains	$ 32	$ 16	$ 32	$ 678
Gross losses	(12)	(61)	(24)	(209)
Net realized gain (loss)	$ 20	$ (45)	$ 8	$ 469

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	Jun. 30, 2024	Dec. 31, 2023
Other Assets
Notional Amount	$ 104,885	$ 104,180
Fair Value	7,566	7,691
Other Liabilities
Notional Amount	104,885	104,180
Fair Value	$ (7,582)	$ (7,726)

- 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

LOANS (Tables)

6 Months Ended

Jun. 30, 2024

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:


	June 30, 2024			December 31, 2023
	Amount		% of Total	Amount		% of Total
Real estate mortgages:
Construction and development	$	242,573	12.0%	$	242,960	12.9%
Residential	249,498		12.3%	224,603		11.9%
Commercial	1,222,739		60.5%	1,144,867		60.5%
Commercial and industrial	297,501		14.7%	269,961		14.3%
Consumer and other	9,566		0.5%	8,286		0.4%
Gross Loans	2,021,877		100.0%	1,890,677		100.0%
Deferred loan fees	(6,443)			(6,169)
Allowance for credit losses	(25,828)			(24,378)
Loans, net	$	1,989,606		$	1,860,130

Schedule of Financing Receivable Credit Quality Indicators

The following tables summarizes the risk category of the Company’s loan portfolio based upon the most recent analysis on the year of origination as of June 30, 2024:


	2024		2023		2022		2021		2020		Prior		Revolving Loans		Total
Real Estate Mortgages:
Construction and development
Pass	$	36,972	$	52,211	$	119,865	$	14,506	$	1,691	$	5,562	$	7,374	$	238,181
Special Mention	—		—		—		—		—		4,392		—		4,392
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Total	36,972		52,211		119,865		14,506		1,691		9,954		7,374		242,573
YTD gross charge offs	—		—		—		—		—		—		—		—

Residential
Pass	30,175		51,123		55,245		20,862		41,074		16,964		33,547		248,990
Special Mention	—		81		—		—		—		—		—		81
Substandard	—		—		111		—		—		264		52		427
Doubtful	—		—		—		—		—		—		—		—
Total	30,175		51,204		55,356		20,862		41,074		17,228		33,599		249,498
YTD gross charge offs	—		—		—		—		—		11		—		11

Commercial
Pass	60,528		230,763		354,607		265,820		96,768		179,013		13,259		1,200,758
Special Mention	250		3,519		—		—		—		3,262		369		7,400
Substandard	—		658		562		7,614		489		5,258		—		14,581
Doubtful	—		—		—		—		—		—		—		—
Total	60,778		234,940		355,169		273,434		97,257		187,533		13,628		1,222,739
YTD gross charge offs	—		—		—		38		—		—		—		38

Commercial and industrial
Pass	29,003		62,787		47,807		17,819		20,412		10,157		91,737		279,722
Special Mention	717		1,380		—		310		13		349		6,924		9,693
Substandard	7		3,683		84		10		—		—		3,918		7,702
Doubtful	—		—		384		—		—		—		—		384
Total	29,727		67,850		48,275		18,139		20,425		10,506		102,579		297,501
YTD gross charge offs	—		—		826		—		—		—		—		826

Consumer and other
Pass	1,790		1,539		824		140		45		1,251		3,970		9,559
Special Mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		7		—		—		—		7
Doubtful	—		—		—		—		—		—		—		—
Total	1,790		1,539		824		147		45		1,251		3,970		9,566
YTD gross charge offs	10		15		—		—		—		—		—		25

Gross Loans
Pass	158,468		398,423		578,348		319,147		159,990		212,947		149,887		1,977,210
Special Mention	967		4,980		—		310		13		8,003		7,293		21,566
Substandard	7		4,341		757		7,631		489		5,522		3,970		22,717
Doubtful	—		—		384		—		—		—		—		384
Total	$	159,442	$	407,744	$	579,489	$	327,088	$	160,492	$	226,472	$	161,150	$	2,021,877
Total YTD gross charge offs	$	10	$	15	$	826	$	38	$	—	$	11	$	—	$	900

Credit Risk Management (Continued)

The following tables 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
YTD gross charge offs	—		—		—		—		—		—		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
YTD gross charge offs	—		—		—		—		—		—		—		—

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
YTD gross charge offs	—		—		—		—		—		—		—		—

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
YTD gross charge offs	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
YTD gross charge offs	—		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
Total YTD gross charge offs	$	424	$	57	$	169	$	44	$	—	$	—	$	3	$	697

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 tables summarize collateral dependent loans, which are individually evaluated to determine expected credit losses, as of June 30, 2024 and December 31, 2023:


	Real Estate		Other		Total		ACL
As of June 30, 2024
Real estate mortgages:
Construction and development	$	144	$	—	$	144	$	27
Residential	905		—		905		145
Commercial	17,275		—		17,275		721
Commercial and industrial	—		8,359		8,359		475
Consumer and other	—		16		16		—
Total	$	18,324	$	8,375	$	26,699	$	1,368


	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 and leases as of June 30, 2024 and December 31, 2023:


			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 June 30, 2024
Real estate mortgages:
Construction and development	$	242,415	$	158	$	—	$	—	$	158	$	—	$	—	$	242,573
Residential	248,830		275		—		—		275		22		371		249,498
Commercial	1,219,120		1,437		—		—		1,437		1,973		209		1,222,739
Commercial and industrial	292,371		3,897		24		—		3,921		475		734		297,501
Consumer and other	9,549		10		7		—		17		—		—		9,566
Total	$	2,012,285	$	5,777	$	31	$	—	$	5,808	$	2,470	$	1,314	$	2,021,877

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

Schedule of Allowance for Credit Loss

The following tables detail activity in the allowance for credit losses by portfolio segment as of June 30, 2024 and June 30, 2023. 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 June 30, 2024, $1,206 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, 2023	$	19,826	$	4,466	$	86	$	24,378
Provision for credit losses	1,686		587		30		2,303
Loans charged off	(49)		(826)		(25)		(900)
Recoveries of loans previously charged off	14		31		2		47
Ending balance at June 30, 2024	$	21,477	$	4,258	$	93	$	25,828


	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	4,080		(1,403)		61		2,738
Loans charged off	—		(262)		(6)		(268)
Recoveries of loans previously charged off	28		14		2		44
Ending balance at June 30, 2023	$	17,387	$	3,871	$	127	$	21,385

Schedule of Amortized Cost Basis

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 six months ended June 30, 2024.

Six Months Ended June 30, 2024

Term Extension

Term Extension and Rate Adjustment

Total

Percentage of Total Loans

Real estate mortgages:

Construction and development

—

Residential

—

Commercial

—

Commercial and industrial

—

Consumer and other

—

Total

—

—%

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.


Year Ended December 31, 2023	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	—%

SUBORDINATED NOTES (Details) - USD ($)			6 Months Ended
SUBORDINATED NOTES (Details) - USD ($)	Oct. 26, 2022	Feb. 07, 2022	Jun. 30, 2024
Debt Instrument [Line Items]
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	Secured Overnight Financing Rate (SOFR) [Member]	Secured Overnight Financing Rate (SOFR) [Member]
Subordinated Notes due February 2032 \| Subordinated Debt
Debt Instrument [Line Items]
Face amount		$ 48,000,000
Interest rate, stated percentage		3.50%
Basis spread on variable rate		2.05%
Debt issuance costs, gross		$ 1,093,000
Debt issuance costs, net			$ 572,000
Amortization period			60 months
Subordinated Notes due October 2032 \| Subordinated Debt
Debt Instrument [Line Items]
Face amount	$ 40,000,000
Interest rate, stated percentage	7.00%
Basis spread on variable rate	3.06%
Debt issuance costs, gross	$ 832,000
Debt issuance costs, net			$ 555,000
Amortization period			60 months

COMMITMENTS AND CONTINGENCIES (Tables)

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Loan Commitments


	June 30, 2024		December 31, 2023
Commitments to extend credit	$	397,104	$	501,935
Standby letters of credit	3,716		2,846
Total	$	400,820	$	504,781

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Property, Plant and Equipment (Details)	Jun. 30, 2024
Minimum \| Buildings
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 \| Buildings
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

DEPOSITS (Tables)

6 Months Ended

Jun. 30, 2024

Banking and Thrift, Interest [Abstract]

Schedule of Composition of Deposits

Major classifications of deposits are as follows:


	June 30, 2024		December 31, 2023
Noninterest-bearing transaction	$	416,068	$	437,959
Interest-bearing transaction	1,006,687		946,347
Savings	32,527		35,412
Time deposits, $250,000 and under	612,299		500,406
Time deposits, over $250,000	108,097		98,065
Total	$	2,175,678	$	2,018,189

Schedule of Time Deposit Maturities

The scheduled maturities of time deposits at June 30, 2024 are as follows:


July 1, 2024 to June 30, 2025	$	612,336
July 1, 2025 to June 30, 2026	67,616
July 1, 2026 to June 30, 2027	20,900
July 1, 2027 to June 30, 2028	11,273
July 1, 2028 to June 30, 2029	8,244
Thereafter	27
Total	$	720,396

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation and Accounting Estimates	Basis of Presentation and Accounting Estimates The unaudited consolidated financial statements include the accounts of the Company and its subsidiary. Significant intercompany transactions and balances have been eliminated in consolidation. In preparing the unaudited consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for 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 is required to maintain reserve balances in cash or on deposit with the Federal Reserve Bank. On March 15, 2020, the Federal Reserve System Board announced an interim final rule amending Regulation D to lower all transaction account reserve requirement ratios to zero percent, thereby eliminating all reserve requirements as of June 30, 2024 and December 31, 2023.
Securities and Other Equity Securities	Securities The Company classifies its debt 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 June 30, 2024, the Company had $19,621 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 $1,145 and $1,147 at June 30, 2024 and December 31, 2023, 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, Allowance for Credit Losses and Modifications to Borrowers Experiencing Financial Difficulty	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 $8,332 and $7,377 at June 30, 2024 and December 31, 2023, respectively. Off-Balance Sheet Credit Exposure The Company also has off-balance sheet financial instruments, which include unfunded loan 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. The allowance for credit losses on off-balance sheet financial instruments was $1,206 and $1,239 at June 30, 2024 and December 31, 2023, respectively. 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.
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.
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 existed at June 30, 2024. 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 June 2024. 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 June 30, 2024 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. Accounting Policy for Derivative Instruments and Hedging Activities (Continued) 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. 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 12. Fair value estimates involve uncertainties and matters of significant judgment. Changes in assumptions or in market conditions could significantly affect the estimates.
Revenue Recognition	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.

EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2024		2023		2024		2023
Basic Earnings Per Share:
Net Income	$	8,198	$	8,756	$	16,317	$	16,427
Weighted average common shares outstanding	8,957,608		8,763,635		8,935,542		8,763,046
Basic earnings per share	$	0.91	$	1.00	$	1.82	$	1.87
Diluted Earnings Per Share:
Net income allocated to common shareholders	$	8,190	$	8,750	$	16,306	$	16,418
Weighted average common shares outstanding	8,957,608		8,763,635		8,935,542		8,763,046
Net dilutive effect of:
Assumed exercises of stock options and vesting of restricted stock units	112,960		187,212		127,006		238,554
Average shares and dilutive potential common shares	9,070,568		8,950,847		9,062,548		9,001,600
Dilutive earnings per share	$	0.90	$	0.98	$	1.80	$	1.82

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Unrealized holding losses on securities available for sale arising during the period, net of tax (benefit)	$ (24)	$ 335	$ 16	$ 84
Reclassification adjustment for losses (gains) on securities available for sale realized in net income, benefit (tax)	$ 0	$ 0	$ 0	$ 3

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Securities available for sale, amortized cost	$ 195,770	$ 190,322
Securities available for sale, allowance for credit losses	0	0
Securities held to maturity, fair value	16,059	16,233
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)	8,908,130	8,841,349
Common stock issued (in shares)	8,908,130	8,841,349

REGULATORY MATTERS

6 Months Ended

Jun. 30, 2024

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 June 30, 2024, approximately $89,859 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 that 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 June 30, 2024 and December 31, 2023, that the Bank met all capital adequacy requirements to which it is subject.

As of June 30, 2024, 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 was 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 June 30, 2024, the Bank was well capitalized under the regulatory framework for prompt corrective action.

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 June 30, 2024, 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 June 30, 2024

Tier 1 capital (to average assets)
Company	$	221,315	8.72	%	$	101,475	4.00	%	$	—	—
Bank	$	292,348	11.52	%	$	101,475	4.00	%	$	126,843	5.00	%

CET 1 capital (to risk-weighted assets)
Company	$	221,315	9.54	%	$	162,336	7.00	%	$	—	—
Bank	$	292,348	12.61	%	$	162,336	7.00	%	$	150,740	6.50	%

Tier 1 capital (to risk-weighted assets)
Company	$	221,315	9.54	%	$	197,122	8.50	%	$	—	—
Bank	$	292,348	12.61	%	$	197,122	8.50	%	$	185,526	8.00	%

Total capital (to risk-weighted assets)
Company	$	336,349	14.50	%	$	243,503	10.50	%	$	—	—
Bank	$	319,382	13.77	%	$	243,503	10.50	%	$	231,908	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, 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	%

- 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

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

6 Months Ended

Jun. 30, 2024

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 June 30, 2024 and December 31, 2023. As of June 30, 2024, the Company has posted cash collateral of $7,150. The amount of gain recognized in income on derivatives as a fair value adjustment and fee income, for the six months ended June 30, 2024, were $19 and $0, respectively.


June 30, 2024						December 31, 2023
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	$	104,885	Other Assets	$	7,566	Interest Rate Products	$	104,180	Other Assets	$	7,691
Interest Rate Products	104,885		Other Liabilities	(7,582)		Interest Rate Products	104,180		Other Liabilities	(7,726)

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 June 30, 2024, 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 $7,733. If the Company had breached any of these provisions at June 30, 2024, it could have been required to settle its obligations under the agreements at their termination value of $7,733, less the required collateral of $7,150.

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets
Cash and due from banks	$ 21,598	$ 19,710
Interest-bearing deposits in banks	140,440	134,846
Federal funds sold	76,334	96,095
Total cash and cash equivalents	238,372	250,651
Securities available for sale, at fair value ($195,770 amortized cost, $0 allowance for credit losses at June 30, 2024; $190,322 amortized cost, $0 allowance for credit losses at December 31, 2023)	184,510	179,000
Securities held to maturity, at amortized cost ($16,059 at fair value, $0 allowance for credit losses at June 30, 2024; $16,233 at fair value, $0 allowance for credit losses at December 31, 2023)	19,621	19,632
Other equity securities, at fair value	3,658	3,649
Restricted equity securities, at cost	4,633	5,684
Loans held for sale	1,716	450
Loans, net of unearned income	2,015,434	1,884,508
Less allowance for credit losses	25,828	24,378
Loans, net	1,989,606	1,860,130
Premises and equipment, net	26,192	26,426
Accrued interest receivable	9,654	8,711
Bank owned life insurance	33,000	29,884
Annuities	15,918	15,036
Foreclosed assets	33	33
Goodwill	16,862	16,862
Core deposit intangible	735	899
Other assets	27,501	29,616
Total assets	2,572,011	2,446,663
Deposits:
Noninterest-bearing	416,068	437,959
Interest-bearing	1,759,610	1,580,230
Total deposits	2,175,678	2,018,189
Other borrowings	8,000	26,994
FHLB advances	42,000	70,000
Subordinated notes	86,873	86,679
Accrued interest payable	2,024	1,519
Other liabilities	26,855	28,318
Total liabilities	2,341,430	2,231,699
Stockholders' equity:
Preferred stock, $0.01 par value, 2,000,000 shares authorized; 0 shares issued and outstanding at June 30, 2024 and December 31, 2023	0	0
Common stock, $5 par value, 30,000,000 shares authorized; 8,908,130 and 8,841,349 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively	44,813	44,479
Capital surplus	79,248	78,361
Retained earnings	117,233	102,523
Accumulated other comprehensive loss	(8,333)	(8,379)
Unvested restricted stock	(826)	(466)
Vested restricted stock units	(1,554)	(1,554)
Total stockholders' equity	230,581	214,964
Total liabilities and stockholders' equity	$ 2,572,011	$ 2,446,663

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Collateral already posted	$ 7,150
Derivative Gain (Loss), Statement Of Income Or Comprehensive Income Extensible Enumeration, Not Disclosed Flag	gain recognized in income on derivatives
Gain recognized in income from fair value adjustment	$ 19
Loss recognized in income from fee income	0
Fair value of derivatives in a net liability position	7,733
Termination value	$ 7,733

FAIR VALUE OF ASSETS AND LIABILITIES - Schedule of Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 184,510	$ 179,000
Other equity securities	$ 3,658	$ 3,649
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, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 0	$ 0
Other equity securities	3,658	3,649
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	184,510	179,000
Other equity securities	0	0
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Other equity securities	0	0
Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other equity securities	3,658	3,649
Interest Rate Products - asset	7,566	7,691
Interest Rate Products - liabilities	(7,582)	(7,726)
Fair Value, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other equity securities	3,658	3,649
Interest Rate Products - asset	0	0
Interest Rate Products - liabilities	0	0
Fair Value, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other equity securities	0	0
Interest Rate Products - asset	7,566	7,691
Interest Rate Products - liabilities	(7,582)	(7,726)
Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other equity securities	0	0
Interest Rate Products - asset	0	0
Interest Rate Products - liabilities	0	0
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	8,694	8,772
U.S. Treasury securities \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	8,694	8,772
U.S. Treasury securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
U.S. Treasury securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	8,694	8,772
U.S. Treasury securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
U.S. Government Sponsored Enterprises (GSEs)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	2,096	2,268
U.S. Government Sponsored Enterprises (GSEs) \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	2,096	2,268
U.S. Government Sponsored Enterprises (GSEs) \| Fair Value, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
U.S. Government Sponsored Enterprises (GSEs) \| Fair Value, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	2,096	2,268
U.S. Government Sponsored Enterprises (GSEs) \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
State and municipal securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	40,899	41,069
State and municipal securities \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	40,899	41,069
State and municipal securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
State and municipal securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	40,899	41,069
State and municipal securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	11,433	11,259
Corporate debt securities \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	11,433	11,259
Corporate debt securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Corporate debt securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	11,433	11,259
Corporate debt securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Asset based securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	16,630	18,687
Asset based securities \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	16,630	18,687
Asset based securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Asset based securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	16,630	18,687
Asset based securities \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Mortgage-backed GSE residential/multifamily and non-GSE
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	104,758	96,945
Mortgage-backed GSE residential/multifamily and non-GSE \| Fair Value, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	104,758	96,945
Mortgage-backed GSE residential/multifamily and non-GSE \| Fair Value, Recurring \| Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0	0
Mortgage-backed GSE residential/multifamily and non-GSE \| Fair Value, Recurring \| Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	104,758	96,945
Mortgage-backed GSE residential/multifamily and non-GSE \| Fair Value, Recurring \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 0	$ 0

DEPOSITS - Schedule of Composition of Deposits (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Banking and Thrift, Interest [Abstract]
Noninterest-bearing transaction	$ 416,068	$ 437,959
Interest-bearing transaction	1,006,687	946,347
Savings	32,527	35,412
Time deposits, $250,000 and under	612,299	500,406
Time deposits, over $250,000	108,097	98,065
Total deposits	$ 2,175,678	$ 2,018,189

LOANS

6 Months Ended

Jun. 30, 2024

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:


	June 30, 2024			December 31, 2023
	Amount		% of Total	Amount		% of Total
Real estate mortgages:
Construction and development	$	242,573	12.0%	$	242,960	12.9%
Residential	249,498		12.3%	224,603		11.9%
Commercial	1,222,739		60.5%	1,144,867		60.5%
Commercial and industrial	297,501		14.7%	269,961		14.3%
Consumer and other	9,566		0.5%	8,286		0.4%
Gross Loans	2,021,877		100.0%	1,890,677		100.0%
Deferred loan fees	(6,443)			(6,169)
Allowance for credit losses	(25,828)			(24,378)
Loans, net	$	1,989,606		$	1,860,130

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.

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.

Portfolio Segments and Classes (Continued)

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

Credit Risk Management

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

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

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

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

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

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

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

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

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

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

Credit Risk Management (Continued)

The following tables summarizes the risk category of the Company’s loan portfolio based upon the most recent analysis on the year of origination as of June 30, 2024:


	2024		2023		2022		2021		2020		Prior		Revolving Loans		Total
Real Estate Mortgages:
Construction and development
Pass	$	36,972	$	52,211	$	119,865	$	14,506	$	1,691	$	5,562	$	7,374	$	238,181
Special Mention	—		—		—		—		—		4,392		—		4,392
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Total	36,972		52,211		119,865		14,506		1,691		9,954		7,374		242,573
YTD gross charge offs	—		—		—		—		—		—		—		—

Residential
Pass	30,175		51,123		55,245		20,862		41,074		16,964		33,547		248,990
Special Mention	—		81		—		—		—		—		—		81
Substandard	—		—		111		—		—		264		52		427
Doubtful	—		—		—		—		—		—		—		—
Total	30,175		51,204		55,356		20,862		41,074		17,228		33,599		249,498
YTD gross charge offs	—		—		—		—		—		11		—		11

Commercial
Pass	60,528		230,763		354,607		265,820		96,768		179,013		13,259		1,200,758
Special Mention	250		3,519		—		—		—		3,262		369		7,400
Substandard	—		658		562		7,614		489		5,258		—		14,581
Doubtful	—		—		—		—		—		—		—		—
Total	60,778		234,940		355,169		273,434		97,257		187,533		13,628		1,222,739
YTD gross charge offs	—		—		—		38		—		—		—		38

Commercial and industrial
Pass	29,003		62,787		47,807		17,819		20,412		10,157		91,737		279,722
Special Mention	717		1,380		—		310		13		349		6,924		9,693
Substandard	7		3,683		84		10		—		—		3,918		7,702
Doubtful	—		—		384		—		—		—		—		384
Total	29,727		67,850		48,275		18,139		20,425		10,506		102,579		297,501
YTD gross charge offs	—		—		826		—		—		—		—		826

Consumer and other
Pass	1,790		1,539		824		140		45		1,251		3,970		9,559
Special Mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		7		—		—		—		7
Doubtful	—		—		—		—		—		—		—		—
Total	1,790		1,539		824		147		45		1,251		3,970		9,566
YTD gross charge offs	10		15		—		—		—		—		—		25

Gross Loans
Pass	158,468		398,423		578,348		319,147		159,990		212,947		149,887		1,977,210
Special Mention	967		4,980		—		310		13		8,003		7,293		21,566
Substandard	7		4,341		757		7,631		489		5,522		3,970		22,717
Doubtful	—		—		384		—		—		—		—		384
Total	$	159,442	$	407,744	$	579,489	$	327,088	$	160,492	$	226,472	$	161,150	$	2,021,877
Total YTD gross charge offs	$	10	$	15	$	826	$	38	$	—	$	11	$	—	$	900

Credit Risk Management (Continued)

The following tables 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
YTD gross charge offs	—		—		—		—		—		—		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
YTD gross charge offs	—		—		—		—		—		—		—		—

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
YTD gross charge offs	—		—		—		—		—		—		—		—

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
YTD gross charge offs	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
YTD gross charge offs	—		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
Total YTD gross charge offs	$	424	$	57	$	169	$	44	$	—	$	—	$	3	$	697

Credit Risk Management (Continued)

Collateral Dependent Loans


	Real Estate		Other		Total		ACL
As of June 30, 2024
Real estate mortgages:
Construction and development	$	144	$	—	$	144	$	27
Residential	905		—		905		145
Commercial	17,275		—		17,275		721
Commercial and industrial	—		8,359		8,359		475
Consumer and other	—		16		16		—
Total	$	18,324	$	8,375	$	26,699	$	1,368


	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 and leases as of June 30, 2024 and December 31, 2023:


			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 June 30, 2024
Real estate mortgages:
Construction and development	$	242,415	$	158	$	—	$	—	$	158	$	—	$	—	$	242,573
Residential	248,830		275		—		—		275		22		371		249,498
Commercial	1,219,120		1,437		—		—		1,437		1,973		209		1,222,739
Commercial and industrial	292,371		3,897		24		—		3,921		475		734		297,501
Consumer and other	9,549		10		7		—		17		—		—		9,566
Total	$	2,012,285	$	5,777	$	31	$	—	$	5,808	$	2,470	$	1,314	$	2,021,877

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

The Company recognized $135 and $31 of interest income on nonaccrual loans during the six months ended June 30, 2024, and June 30, 2023, respectively.

Allowance for Credit Losses

Allowance for Credit Losses (Continued)


	Real Estate		Commercial		Consumer		Total
Allowance for credit losses:
Balance at December 31, 2023	$	19,826	$	4,466	$	86	$	24,378
Provision for credit losses	1,686		587		30		2,303
Loans charged off	(49)		(826)		(25)		(900)
Recoveries of loans previously charged off	14		31		2		47
Ending balance at June 30, 2024	$	21,477	$	4,258	$	93	$	25,828


	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	4,080		(1,403)		61		2,738
Loans charged off	—		(262)		(6)		(268)
Recoveries of loans previously charged off	28		14		2		44
Ending balance at June 30, 2023	$	17,387	$	3,871	$	127	$	21,385

Modifications to Borrowers Experiencing Financial Difficulty

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.

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.

Six Months Ended June 30, 2024

Term Extension

Term Extension and Rate Adjustment

Total

Percentage of Total Loans

Real estate mortgages:

Construction and development

—

Residential

—

Commercial

—

Commercial and industrial

—

Consumer and other

—

Total

—

—%

Modifications to Borrowers Experiencing Financial Difficulty (Continued)

The Company had no modified loans during the six months ended June 30, 2024 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 June 30, 2024.


Year Ended December 31, 2023	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.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jun. 30, 2024

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. As of June 30, 2024, 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 unaudited consolidated financial statements include the accounts of the Company and its subsidiary. Significant intercompany transactions and balances have been eliminated in consolidation.

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

Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for 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 is required to maintain reserve balances in cash or on deposit with the Federal Reserve Bank. On March 15, 2020, the Federal Reserve System Board announced an interim final rule amending Regulation D to lower all transaction account reserve requirement ratios to zero percent, thereby eliminating all reserve requirements as of June 30, 2024 and December 31, 2023.

Securities

The Company classifies its debt 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 June 30, 2024, the Company had $19,621 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 $1,145 and $1,147 at June 30, 2024 and December 31, 2023, 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 $8,332 and $7,377 at June 30, 2024 and December 31, 2023, respectively.

Off-Balance Sheet Credit Exposure

The Company also has off-balance sheet financial instruments, which include unfunded loan 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. The allowance for credit losses on off-balance sheet financial instruments was $1,206 and $1,239 at June 30, 2024 and December 31, 2023, respectively.

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.

Premises and Equipment

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


			Years
Buildings			10-39
Furniture and equipment			3-7

Transfers of Financial Assets

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

Foreclosed Assets

Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value less estimated selling costs. Any write-down to fair value at the time of transfer to foreclosed assets is charged to the allowance for 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 existed at June 30, 2024.

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 June 2024. 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 June 30, 2024 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.

Accounting Policy for Derivative Instruments and Hedging Activities (Continued)

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

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

Income Taxes

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

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

Stock Compensation Plans

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 12. Fair value estimates involve uncertainties and matters of significant judgment. Changes in assumptions or in market conditions could significantly affect the estimates.

Revenue Recognition

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

Recent Accounting Pronouncements

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.

SUBSEQUENT EVENTS	6 Months Ended
SUBSEQUENT EVENTS	Jun. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On July 31, 2024 (the “Effective Date”), we closed the transactions under our previously announced Agreement and Plan of Merger (the “Merger Agreement”), by and between us, the Bank, and CBB Bancorp (“CBB Bancorp”), the parent company of Century Bank of Georgia (“Century Bank”). On the Effective Date, (i) CBB Bancorp merged with and into us (the “Corporate Merger”), and we were the surviving corporation in the Corporate Merger and (ii) subsequent to the Corporate Merger, Century Bank merged with and into the Bank (the “Bank Merger”) with the Bank as the surviving banking corporation in the Bank Merger. Under the terms and subject to the conditions of the Merger Agreement, the holders of CBB Bancorp have the right to elect to receive either 1.550 shares of our common stock or $45.63 in cash for each share of CBB Bancorp common stock they hold. Shareholder elections for cash are subject to proration such that no more than 10% of the shares outstanding of CBB Bancorp common stock will receive the cash consideration.

LOANS - Schedule of Allowance for Credit Loss (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Allowance for credit losses:
Beginning balance	$ 24,378	$ 20,156
Provision for credit losses	2,303	2,738
Loans charged off	(900)	(268)
Recoveries of loans previously charged off	47	44
Ending balance	25,828	21,385
Allowance for credit losses	1,206		$ 1,239
Accounting Standards Update 2016-13
Allowance for credit losses:
Beginning balance		(1,285)
Financing receivable, allowance for credit loss	1,285
Allowance for credit losses	1,206
Real Estate
Allowance for credit losses:
Beginning balance	19,826	14,443
Provision for credit losses	1,686	4,080
Loans charged off	(49)	0
Recoveries of loans previously charged off	14	28
Ending balance	21,477	17,387
Real Estate \| Accounting Standards Update 2016-13
Allowance for credit losses:
Beginning balance		(1,164)
Commercial
Allowance for credit losses:
Beginning balance	4,466	5,642
Provision for credit losses	587	(1,403)
Loans charged off	(826)	(262)
Recoveries of loans previously charged off	31	14
Ending balance	4,258	3,871
Commercial \| Accounting Standards Update 2016-13
Allowance for credit losses:
Beginning balance		(120)
Consumer
Allowance for credit losses:
Beginning balance	86	71
Provision for credit losses	30	61
Loans charged off	(25)	(6)
Recoveries of loans previously charged off	2	2
Ending balance	$ 93	127
Consumer \| Accounting Standards Update 2016-13
Allowance for credit losses:
Beginning balance		$ (1)

DEPOSITS - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Banking and Thrift, Interest [Abstract]
Brokered deposits	$ 288,328	$ 230,858
Overdrawn deposits reclassified as loans	$ 158	$ 174

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - 6 months ended Jun. 30, 2024 - 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, 2023		0	8,841,349
Beginning balance at Dec. 31, 2023	$ 214,964	$ 0	$ 44,479	$ 78,361	$ 102,523	$ (8,379)	$ (466)	$ (1,554)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	16,317				16,317
Issuance of common stock (in shares)			2,421
Issuance of common stock	63		$ 12	51
Exercise of common stock options (in shares)			40,018
Exercise of common stock options	309		$ 200	109
Issuance of restricted stock (in shares)			27,567
Issuance of restricted stock	0		$ 138	590			(728)
Forfeiture of restricted stock (in shares)			(3,225)
Forfeiture of restricted stock	0		$ (16)	(67)			83
Stock-based compensation	489			204			285
Common stock dividends	(1,607)				(1,607)
Other comprehensive income	46					46
Ending balance (in shares) at Jun. 30, 2024		0	8,908,130
Ending balance at Jun. 30, 2024	$ 230,581	$ 0	$ 44,813	$ 79,248	$ 117,233	$ (8,333)	$ (826)	$ (1,554)

FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2024

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 June 30, 2024 and December 31, 2023 is as follows:


	Fair Value Measurements At Reporting Date Using:
	Fair Value		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
June 30, 2024
U.S. Treasury securities	$	8,694	$	—	$	8,694	$	—
U.S. Government Sponsored Enterprises (GSEs)	2,096		—		2,096		—
State and municipal securities	40,899		—		40,899		—
Corporate debt securities	11,433		—		11,433		—
Asset based securities	16,630		—		16,630		—
Mortgage-backed GSE residential/multifamily and non-GSE	104,758		—		104,758		—
Other equity securities	3,658		3,658		—		—
Interest Rate Products - asset	7,566		—		7,566		—
Interest Rate Products - liabilities	(7,582)		—		(7,582)		—

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)		—

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


	June 30, 2024
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	238,372	$	238,372	$	—	$	—
Securities available for sale	184,510		—		184,510		—
Other equity securities	3,658		3,658		—		—
Loans held for sale	1,716		—		1,716		—
Trading assets	7,566		—		7,566		—
Loans, net	1,989,606		—		1,950,327		2,385
Bank owned life insurance	33,000		—		33,000		—
Annuities	15,918		—		15,918		—
Accrued interest receivable	9,654		—		9,654		—
Restricted equity securities	4,633		—		—		4,633

Financial liabilities:
Deposits	$	2,175,678	$	—	$	2,173,868	$	—
Trading liabilities	7,582		—		7,582		—
FHLB advances	42,000		—		41,971		—
Other borrowings	8,000		—		8,000		—
Subordinated notes	86,873		—		86,873		—
Accrued interest payable	2,024		—		2,024		—

Fair Value of Financial Instruments (Continued)


	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		—

Schedule of Fair Value Measurements, Nonrecurring

Assets measured at fair value on a nonrecurring basis are included in the table below as of June 30, 2024 and December 31, 2023:


	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)
June 30, 2024:
Individually analyzed loans	$	2,385	$	—	$	—	$	2,385
Foreclosed assets	33		—		—		33
Totals	$	2,418	$	—	$	—	$	2,418

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


	Fair Value Measurements At Reporting Date Using:
	Fair Value		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2023:
Individually analyzed loans	$	3,095	$	—	$	—	$	3,095
Foreclosed assets	33		—		—		33
Totals	$	3,128	$	—	$	—	$	3,128

Schedule of Fair Value Measurement Inputs and Valuation Techniques

For Level 3 assets measured at fair value on a nonrecurring basis as of June 30, 2024, 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

2,385

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, 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%

FAIR VALUE OF ASSETS AND LIABILITIES - Schedule of Fair Value Measurement Inputs and Valuation Techniques (Details) $ in Thousands	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	$ 2,418	$ 3,128
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	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	0.20
Individually analyzed loans \| Fair Value, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	$ 2,385	$ 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	$ 33

FAIR VALUE OF ASSETS AND LIABILITIES

6 Months Ended

Jun. 30, 2024

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 June 30, 2024 and December 31, 2023 is as follows:


	Fair Value Measurements At Reporting Date Using:
	Fair Value		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
June 30, 2024
U.S. Treasury securities	$	8,694	$	—	$	8,694	$	—
U.S. Government Sponsored Enterprises (GSEs)	2,096		—		2,096		—
State and municipal securities	40,899		—		40,899		—
Corporate debt securities	11,433		—		11,433		—
Asset based securities	16,630		—		16,630		—
Mortgage-backed GSE residential/multifamily and non-GSE	104,758		—		104,758		—
Other equity securities	3,658		3,658		—		—
Interest Rate Products - asset	7,566		—		7,566		—
Interest Rate Products - liabilities	(7,582)		—		(7,582)		—

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)		—

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 June 30, 2024 and December 31, 2023:


	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)
June 30, 2024:
Individually analyzed loans	$	2,385	$	—	$	—	$	2,385
Foreclosed assets	33		—		—		33
Totals	$	2,418	$	—	$	—	$	2,418

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


	Fair Value Measurements At Reporting Date Using:
	Fair Value		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2023:
Individually analyzed loans	$	3,095	$	—	$	—	$	3,095
Foreclosed assets	33		—		—		33
Totals	$	3,128	$	—	$	—	$	3,128

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.

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 Company had no Level 3 assets measured at fair value on a recurring basis as of June 30, 2024 and December 31, 2023.

For Level 3 assets measured at fair value on a nonrecurring basis as of June 30, 2024, 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

2,385

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, 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%

Fair Value of Financial Instruments

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


	June 30, 2024
			Estimated Fair Value
	Carrying Amount		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents	$	238,372	$	238,372	$	—	$	—
Securities available for sale	184,510		—		184,510		—
Other equity securities	3,658		3,658		—		—
Loans held for sale	1,716		—		1,716		—
Trading assets	7,566		—		7,566		—
Loans, net	1,989,606		—		1,950,327		2,385
Bank owned life insurance	33,000		—		33,000		—
Annuities	15,918		—		15,918		—
Accrued interest receivable	9,654		—		9,654		—
Restricted equity securities	4,633		—		—		4,633

Financial liabilities:
Deposits	$	2,175,678	$	—	$	2,173,868	$	—
Trading liabilities	7,582		—		7,582		—
FHLB advances	42,000		—		41,971		—
Other borrowings	8,000		—		8,000		—
Subordinated notes	86,873		—		86,873		—
Accrued interest payable	2,024		—		2,024		—

Fair Value of Financial Instruments (Continued)


	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		—

- 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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
-Section 55
-Paragraph 100
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-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Paragraph 2
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 820
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-Topic 820
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-Topic 820
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

FAIR VALUE OF ASSETS AND LIABILITIES - Schedule of Fair Value Measurements, Nonrecurring (Details) - Fair Value, Nonrecurring - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	$ 2,418	$ 3,128
Individually analyzed loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	2,385	3,095
Foreclosed assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	33	33
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	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 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	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 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	2,418	3,128
Fair Value, Inputs, Level 3 \| Individually analyzed loans
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Carrying Amount	2,385	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	$ 33

SECURITIES - Schedule of Restricted Equity Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Debt and Equity Securities, FV-NI [Line Items]
Restricted equity securities, at cost	$ 4,633	$ 5,684
Federal Home Loan Bank stock
Debt and Equity Securities, FV-NI [Line Items]
Restricted equity securities, at cost	3,708	4,759
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

SECURITIES - Schedule of Amortized Cost and Fair Value by Contractual Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Amortized Cost
Due in less than one year	$ 2,133	$ 482
Due from one year to five years	10,953	11,671
Due after five to ten years	22,158	22,537
Due after ten years	51,845	54,326
Mortgage-backed securities	108,681	101,306
Amortized Cost	195,770	190,322
Fair Value
Due in less than one year	2,091	476
Due from one year to five years	10,049	10,855
Due after five to ten years	19,959	20,439
Due after ten years	47,653	50,285
Mortgage-backed securities	104,758	96,945
Total securities available for sale, fair value	184,510	179,000
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	10,785	7,743
Due after ten years	8,836	11,889
Mortgage-backed securities	0	0
Amortized Cost	19,621	19,632
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	8,911	6,483
Due after ten years	7,148	9,750
Mortgage-backed securities	0	0
Total securities held to maturity, fair value	16,059	16,233
Total securities
Amortized Cost	215,391	209,954
Fair Value	$ 200,569	$ 195,233

CONCENTRATIONS OF CREDIT (Details) $ in Thousands	6 Months Ended
CONCENTRATIONS OF CREDIT (Details) $ in Thousands	Jun. 30, 2024 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	$ 63,426
Commitments to expend in excess of capital, unsecured basis, percentage	10.00%
Commitments to expend in excess of capital, unsecured basis	$ 31,713
Financing Receivable \| Loan Portfolio Concentration Risk \| Real Estate Mortgages:
Concentration Risk [Line Items]
Concentration risk, percentage	85.00%

EARNINGS PER SHARE - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Basic Earnings Per Share:
Net Income	$ 8,198	$ 8,756	$ 16,317	$ 16,427
Weighted average common shares outstanding (in shares)	8,957,608	8,763,635	8,935,542	8,763,046
Basic earnings per share (in dollars per share)	$ 0.91	$ 1.00	$ 1.82	$ 1.87
Diluted Earnings Per Share:
Net income allocated to common shareholders (in shares)	$ 8,190	$ 8,750	$ 16,306	$ 16,418
Weighted average common shares outstanding (in shares)	8,957,608	8,763,635	8,935,542	8,763,046
Net dilutive effect of:
Assumed exercises of stock options (in shares)	112,960	187,212	127,006	238,554
Average shares and dilutive potential common shares (in shares)	9,070,568	8,950,847	9,062,548	9,001,600
Dilutive earnings per share (in dollars per share)	$ 0.90	$ 0.98	$ 1.80	$ 1.82

LOANS - Schedule of Amortized Cost Basis (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Recorded investment after modification		$ 0	$ 206
Percentage of Total Loans		0.00%	0.00%
Loans modified, subsequently defaulted	$ 0	$ 0	$ 0
Unfunded commitments, borrowers with financial difficulty	$ 0	0	0
Term Extension
Financing Receivable, Allowance for Credit Loss [Line Items]
Recorded investment after modification		0	89
Term Extension and Rate Adjustment
Financing Receivable, Allowance for Credit Loss [Line Items]
Recorded investment after modification		0	117
Real Estate Mortgages: \| Construction and development
Financing Receivable, Allowance for Credit Loss [Line Items]
Recorded investment after modification		$ 0	$ 206
Percentage of Total Loans		0.00%	0.00%
Real Estate Mortgages: \| Construction and development \| Term Extension
Financing Receivable, Allowance for Credit Loss [Line Items]
Recorded investment after modification		$ 0	$ 89
Real Estate Mortgages: \| Construction and development \| Term Extension and Rate Adjustment
Financing Receivable, Allowance for Credit Loss [Line Items]
Recorded investment after modification		0	117
Real Estate Mortgages: \| Residential
Financing Receivable, Allowance for Credit Loss [Line Items]
Recorded investment after modification		$ 0	$ 0
Percentage of Total Loans		0.00%	0.00%
Real Estate Mortgages: \| Residential \| Term Extension
Financing Receivable, Allowance for Credit Loss [Line Items]
Recorded investment after modification		$ 0	$ 0
Real Estate Mortgages: \| Residential \| Term Extension and Rate Adjustment
Financing Receivable, Allowance for Credit Loss [Line Items]
Recorded investment after modification		0	0
Real Estate Mortgages: \| Commercial
Financing Receivable, Allowance for Credit Loss [Line Items]
Recorded investment after modification		$ 0	$ 0
Percentage of Total Loans		0.00%	0.00%
Real Estate Mortgages: \| Commercial \| Term Extension
Financing Receivable, Allowance for Credit Loss [Line Items]
Recorded investment after modification		$ 0	$ 0
Real Estate Mortgages: \| Commercial \| Term Extension and Rate Adjustment
Financing Receivable, Allowance for Credit Loss [Line Items]
Recorded investment after modification		0	0
Commercial and industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Recorded investment after modification		$ 0	$ 0
Percentage of Total Loans		0.00%	0.00%
Commercial and industrial \| Term Extension
Financing Receivable, Allowance for Credit Loss [Line Items]
Recorded investment after modification		$ 0	$ 0
Commercial and industrial \| Term Extension and Rate Adjustment
Financing Receivable, Allowance for Credit Loss [Line Items]
Recorded investment after modification		0	0
Consumer and other
Financing Receivable, Allowance for Credit Loss [Line Items]
Recorded investment after modification		$ 0	$ 0
Percentage of Total Loans		0.00%	0.00%
Consumer and other \| Term Extension
Financing Receivable, Allowance for Credit Loss [Line Items]
Recorded investment after modification		$ 0	$ 0
Consumer and other \| Term Extension and Rate Adjustment
Financing Receivable, Allowance for Credit Loss [Line Items]
Recorded investment after modification		$ 0	$ 0