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FAIR VALUE ACCOUNTING (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of Assets Measured on Recurring Basis
The following tables present the financial instruments measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021:
Fair
Value
Quoted Prices in
Active Markets
for Identical
Instruments
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
June 30, 2022
Investment securities:
U.S. government agency obligations$21,862 $— $21,862 $— 
Mortgage-backed securities89,360 — 89,360 — 
Corporate debt securities35,010 — 35,010 — 
Corporate asset-backed securities30,836 — 30,836 — 
Total investment securities177,068 — 177,068 — 
Equity Investments:
Equity Investments285 285 — — 
Equity investments measured at NAV(1)1,080 — — — 
Total equity investments1,365 285 — — 
Total$178,433 $285 $177,068 $— 
December 31, 2021
Investment securities:
U.S. government agency obligations$26,265 $— $26,265 $— 
Obligations of states and political subdivisions140 — 140 — 
Mortgage-backed securities107,167 — 107,167 — 
Corporate debt securities35,588 — 35,588 — 
Corporate asset backed securities33,908 — 33,908 — 
Total investment securities203,068 — 203,068 — 
Equity Investments:
Equity Investments368 368 — — 
Equity investments measured at NAV(1)960 — — — 
Total equity investments1,328 368 — — 
Total$204,396 $368 $203,068 $— 
(1) Investments valued at NAV are excluded from being reported under the fair value hierarchy but are presented to permit reconciliation with the balance sheet in accordance with ASC 820-10-35-54B.
Schedule of Assets Measured on Nonrecurring Basis
The following tables present the financial instruments measured at fair value on a nonrecurring basis as of June 30, 2022 and December 31, 2021:
Carrying ValueQuoted Prices in
Active Markets
for Identical
Instruments
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
June 30, 2022
Foreclosed and repossessed assets, net$1,437 $— $— $1,437 
Impaired loans with allocated allowances5,161 — — 5,161 
Mortgage servicing rights4,520 — — 5,475 
Total$11,118 $— $— $12,073 
December 31, 2021
Foreclosed and repossessed assets, net$1,408 $— $— $1,408 
Impaired loans with allocated allowances5,580 — — 5,580 
Mortgage servicing rights4,161 — — 4,312 
Total$11,149 $— $— $11,300 
Schedule of Fair Value of Assets
The following table represents additional quantitative information about assets measured at fair value on a
recurring and nonrecurring basis and for which we have utilized Level 3 inputs to determine their fair value at
June 30, 2022.
Fair
Value
Valuation Techniques (1)Significant Unobservable Inputs (2)Range
June 30, 2022
Foreclosed and repossessed assets, net$1,437 Appraisal valueEstimated costs to sell
10% - 15%
Impaired loans with allocated allowances$5,161 Appraisal valueEstimated costs to sell
10% - 15%
Mortgage servicing rights$5,475 Discounted cash flowsDiscounted rates
9% - 12%
December 31, 2021
Foreclosed and repossessed assets, net$1,408 Appraisal valueEstimated costs to sell
10% - 15%
Impaired loans with allocated allowances$5,580 Appraisal valueEstimated costs to sell
10% - 15%
Mortgage servicing rights$4,312 Discounted cash flowsDiscounted rates
9% - 12%
(1)     Fair value is generally determined through independent third-party appraisals of the underlying
    collateral, which generally includes various level 3 inputs which are not observable.
(2)     The fair value basis of impaired loans and real estate owned may be adjusted to reflect management
    estimates of disposal costs including, but not limited to, real estate brokerage commissions, legal fees,
    and delinquent property taxes.
Schedule of Carrying Amount and Estimated Fair Value of Financial Instruments The carrying amount and estimated fair value of the Company’s financial instruments as of the dates indicated below were as follows:
 June 30, 2022December 31, 2021
 Valuation Method UsedCarrying
Amount
Estimated
Fair
Value
Carrying
Amount
Estimated
Fair
Value
Financial assets:
Cash and cash equivalents(Level I)$31,743 $31,743 $47,691 $47,691 
Other interest-bearing deposits(Level II)1,505 1,516 1,511 1,535 
Securities available for sale “AFS”(Level II)177,068 177,068 203,068 203,068 
Securities held to maturity “HTM”(Level II)99,249 84,788 71,141 69,177 
Equity investments(Level I)285 285 368 368 
Equity investments valued at NAV(1)N/A1,080 1,080 960 960 
Other investments(Level II)14,899 14,899 15,305 15,305 
Loans receivable, net(Level III)1,330,030 1,310,750 1,294,050 1,319,293 
Loans held for sale - Residential mortgage(Level I)860 866 1,224 1,250 
Loans held for sale - SBA (Level III)312 330 5,446 5,776 
Mortgage servicing rights(Level III)4,520 5,475 4,161 4,312 
Accrued interest receivable(Level I)4,243 4,243 3,916 3,916 
Financial liabilities:
Deposits(Level III)$1,400,210 $1,400,585 $1,387,535 $1,388,390 
FHLB advances(Level II)102,030 101,029 111,527 113,285 
Other borrowings(Level I)87,124 87,124 58,426 58,426 
Accrued interest payable(Level I)962 962 586 586 
(1) Investments valued at NAV are excluded from being reported under the fair value hierarchy but are presented to permit reconciliation with the balance sheet in accordance with ASC 820-10-35-54B.