FAIR VALUE OF FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Carrying Amount, Estimated Fair Value, and Placement in the Fair Value Hierarchy

The carrying amount, estimated fair values, and placement in the fair value hierarchy of the Company’s financial instruments are as follows: 

	Carrying		Estimated		Level
(dollars in thousands)	Amount		Fair Value		1		2		3
December 31, 2022
Assets
Cash and short-term investments	$	80,678	$	80,678	$	80,678	$	—	$	—
Investment securities available for sale	432,553		432,553		—		416,957		15,596
Investment securities held to maturity	465,858		411,264		—		411,264		—
Other investments	13,793		13,793		—		13,003		790
Loans held for sale	17,743		17,743		—		17,743		—
Loans, net	1,720,978		1,469,707		—		—		1,469,707
Liabilities
Deposits	2,490,997		2,489,481		—		2,489,481		—
Federal Home Loan Bank advances	125,000		125,163		—		125,163		—
Other borrowed money	78,352		69,930		—		69,930		—
December 31, 2021
Assets
Cash and short-term investments	$	197,232	$	197,232	$	197,232	$	—	$	—
Investment securities available for sale	938,164		938,164		87,551		850,613		—
Other investments	14,012		14,012		5,574		4,183		4,255
Loans held for sale	38,150		38,150		—		38,150		—
Loans, net	1,325,067		1,328,853		—		—		1,328,853
Liabilities
Deposits	2,374,608		2,375,385		—		2,375,385		—
Federal Home Loan Bank advances	51,656		51,162		—		51,162		—
Other borrowed money	36,792		36,796		—		36,796		—

Schedule of Assets Measured at Fair Value on a Recurring and Nonrecurring Basis

The table below includes only impaired loans with a specific reserve and only other real estate properties with a valuation allowance at December 31, 2022 and 2021. Those impaired loans and other real estate properties are shown net of the related specific reserves and valuation allowances.

			Fair Value Measurements at Reporting Date Using
(dollars in thousands)	Total Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
December 31, 2022
Nonrecurring
Impaired loans	$	521	$	—	$	—	$	521
Other real estate	651		—		—		651
December 31, 2021
Nonrecurring
Impaired loans	$	1,837	$	—	$	—	$	1,837
Other real estate	281		—		—		281

Schedule of Fair Value Measurements Using Significant Unobservable Inputs

The following tables present quantitative information about the significant unobservable inputs used in the fair value measurements for assets in level 3 of the fair value hierarchy measured on a nonrecurring basis at December 31, 2022 and 2021. These tables are comprised primarily of collateral dependent impaired loans and other real estate owned:

(dollars in thousands)	December 31, 2022		Valuation Techniques	Unobservable Inputs	Range Weighted Avg
Impaired Loans	$	521	Appraised Value	Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell	25	%	-	50%
Other Real Estate	$	651	Appraised Value/ Comparable Sales	Discounts to reflect current market conditions and estimated costs to sell	0	%	-	20%

	December 31, 2021		Valuation Techniques	Unobservable Inputs	Range Weighted Avg
Impaired Loans	$	1,837	Appraised Value	Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell	25	%	-	100%
Other Real Estate	$	281	Appraised Value/ Comparable Sales	Discounts to reflect current market conditions and estimated costs to sell	0	%	-	20%

The following table presents quantitative information about recurring level 3 fair value measurements as of December 31, 2022.

	December 31, 2022
(dollars in thousands)	Fair Value		Valuation Techniques	Unobservable Inputs	Range (Weighted Avg)
Available for sale securities	$	15,596	Discounted Cash Flow	Discount Rate or Yield	N/A*
Other investments	$	790	Discounted Cash Flow	Discount Rate or Yield	N/A*

* The Company relies on a third-party pricing service to value its securities. The details of the unobservable inputs and other adjustments used by the third-party pricing service were not readily available to the Company.

Schedule of Reconciliation and Statement of Income Classification of Gains and Losses for All Assets Measured at Fair Value on a Recurring Basis

The following table presents a reconciliation and statement of income classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (level 3) for the year ended December 31, 2022 and 2021:

	Other Investments				Available for sale securities
(dollars in thousands)	2022		2021		2022
Beginning balance	$	4,255	$	—	$	—
Additions	—		4,107		—
Redemptions	(3,306)		—		—
Total unrealized/realized gains included in earnings	(159)		148		—
Transfer to Level 3	—		—		15,596
Ending balance	$	790	$	4,255	$	15,596