Cover
Cover - shares | 3 Months Ended | |
Mar. 31, 2021 | May 06, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Mar. 31, 2021 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2021 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 0-31525 | |
Entity Registrant Name | AMERICAN RIVER BANKSHARES | |
Entity Central Index Key | 0001108236 | |
Entity Tax Identification Number | 68-0352144 | |
Entity Incorporation, State or Country Code | CA | |
Entity Address, Address Line One | 3100 Zinfandel Drive | |
Entity Address, Address Line Two | Suite 450 | |
Entity Address, City or Town | Rancho Cordova | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 95670 | |
City Area Code | (916) | |
Local Phone Number | 851-0123 | |
Title of 12(b) Security | Common Stock, no par value | |
Trading Symbol | AMRB | |
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 | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 5,968,994 |
CONSOLIDATED BALANCE SHEET (Una
CONSOLIDATED BALANCE SHEET (Unaudited) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
ASSETS | ||
Cash and due from banks | $ 18,927 | $ 14,030 |
Interest-bearing deposits in banks | 78,871 | 28,479 |
Total cash and cash equivalents | 97,798 | 42,509 |
Investment securities: | ||
Available-for-sale, at fair value | 301,628 | 306,966 |
Held-to-maturity, at amortized cost fair value of $11 in 2021 and $13 in 2020 | 10 | 12 |
Loans, less allowance for loan losses of $6,696 at March 31, 2021 and $6,628 at December 31, 2020 | 468,718 | 471,853 |
Premises and equipment, net | 956 | 1,002 |
Federal Home Loan Bank stock | 4,212 | 4,212 |
Goodwill | 16,321 | 16,321 |
Other real estate owned | 800 | 800 |
Bank owned life insurance | 16,162 | 16,101 |
Accrued interest receivable and other assets | 9,458 | 9,215 |
Total assets | 916,063 | 868,991 |
Deposits: | ||
Noninterest bearing | 339,714 | 330,095 |
Interest-bearing | 448,855 | 414,082 |
Total deposits | 788,569 | 744,177 |
Short-term borrowings | 7,000 | 7,000 |
Long-term borrowings | 13,787 | 13,787 |
Accrued interest payable and other liabilities | 13,816 | 10,932 |
Total liabilities | 823,172 | 775,896 |
Shareholders' equity: | ||
Common stock, no par value; 20,000,000 shares authorized; issued and outstanding – 5,962,466 shares at March 31, 2021 and 5,937,529 shares at December 31, 2020 | 31,066 | 30,961 |
Retained earnings | 58,209 | 55,978 |
Accumulated other comprehensive income, net of taxes | 3,616 | 6,156 |
Total shareholders' equity | 92,891 | 93,095 |
Total liabilities and shareholders' equity | $ 916,063 | $ 868,991 |
CONSOLIDATED BALANCE SHEET (U_2
CONSOLIDATED BALANCE SHEET (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Statement of Financial Position [Abstract] | ||
Fair value of held-to-maturity | $ 11 | $ 13 |
Allowance for loan and lease losses | $ 6,696 | $ 6,628 |
Preferred Stock, Par or Stated Value Per Share | $ 0 | $ 0 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common Stock, Par or Stated Value Per Share | $ 0 | $ 0 |
Common Stock, Shares Authorized | 20,000,000 | 20,000,000 |
Common Stock, Shares, Issued | 5,962,466 | 5,937,529 |
Common Stock, Shares, Outstanding | 5,962,466 | 5,937,529 |
CONSOLIDATED STATEMENT OF INCOM
CONSOLIDATED STATEMENT OF INCOME (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Interest and fees on loans: | ||
Taxable | $ 5,604 | $ 4,675 |
Exempt from Federal income taxes | 193 | 230 |
Interest on deposits in banks | 8 | 34 |
Interest and dividends on investment securities: | ||
Taxable | 1,515 | 1,739 |
Exempt from Federal income taxes | 34 | 37 |
Total interest income | 7,354 | 6,715 |
Interest expense: | ||
Interest on deposits | 160 | 440 |
Interest on borrowings | 62 | 87 |
Total interest expense | 222 | 527 |
Net interest income | 7,132 | 6,188 |
Provision for loan losses | 495 | |
Net interest income after provision for loan losses | 7,132 | 5,693 |
Noninterest income: | ||
Service charges on deposit accounts | 164 | 155 |
Gain on sale of securities | 172 | 38 |
Other noninterest income | 255 | 259 |
Total noninterest income | 591 | 452 |
Noninterest expense: | ||
Salaries and employee benefits | 2,762 | 2,865 |
Occupancy | 259 | 256 |
Furniture and equipment | 134 | 143 |
Federal Deposit Insurance Corporation assessments | 54 | 27 |
Expenses related to other real estate owned | 4 | 5 |
Other expense | 850 | 920 |
Total noninterest expense | 4,063 | 4,216 |
Income before provision for income taxes | 3,660 | 1,929 |
Provision for income taxes | 1,013 | 497 |
Net income | $ 2,647 | $ 1,432 |
Basic earnings per share | $ 0.45 | $ 0.24 |
Diluted earnings per share | $ 0.45 | $ 0.24 |
CONSOLIDATED STATEMENT OF COMPR
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Income Statement [Abstract] | ||
Net income | $ 2,647 | $ 1,432 |
Other comprehensive (loss) income: | ||
(Decrease) increase in net unrealized gains on investment securities | (3,434) | 4,053 |
Deferred tax benefit (expense) | 1,016 | (1,198) |
(Decrease) increase in net unrealized gains on investment securities, net of tax | (2,418) | 2,855 |
Reclassification adjustment for realized gains included in net income | (172) | (38) |
Tax effect | 50 | 11 |
Realized gains, net of tax | (122) | (27) |
Total other comprehensive (loss) income | (2,540) | 2,828 |
Comprehensive income | $ 107 | $ 4,260 |
CONSOLIDATED STATEMENT OF CHANG
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Beginning Balance, Shares at Dec. 31, 2019 | 5,898,878 | |||
Beginning Balance at Dec. 31, 2019 | $ 30,536 | $ 50,581 | $ 1,792 | $ 82,909 |
Net income | 1,432 | 1,432 | ||
Other comprehensive loss, net of tax: | ||||
Net change in unrealized gains on available-for-sale investment securities | 2,828 | 2,828 | ||
Cash dividends ($0.07 per share) | (413) | (413) | ||
Net restricted stock award activity and related compensation expense | $ 96 | 96 | ||
Net restricted stock award activity and related compensation expense, Shares | 19,497 | |||
Stock option compensation expense | $ 2 | 2 | ||
Ending Balance, Shares at Mar. 31, 2020 | 5,918,375 | |||
Ending Balance at Mar. 31, 2020 | $ 30,634 | 51,600 | 4,620 | 86,854 |
Other comprehensive loss, net of tax: | ||||
Stock options exercised, Shares | 2,176 | |||
Beginning Balance, Shares at Dec. 31, 2020 | 5,937,529 | |||
Beginning Balance at Dec. 31, 2020 | $ 30,961 | 55,978 | 6,156 | 93,095 |
Net income | 2,647 | 2,647 | ||
Other comprehensive loss, net of tax: | ||||
Net change in unrealized gains on available-for-sale investment securities | (2,540) | (2,540) | ||
Cash dividends ($0.07 per share) | (416) | (416) | ||
Net restricted stock award activity and related compensation expense | $ 90 | 90 | ||
Net restricted stock award activity and related compensation expense, Shares | 22,761 | |||
Ending Balance, Shares at Mar. 31, 2021 | 5,962,466 | |||
Ending Balance at Mar. 31, 2021 | $ 31,066 | $ 58,209 | $ 3,616 | 92,891 |
Other comprehensive loss, net of tax: | ||||
Stock options exercised | $ 15 | $ 15 | ||
Stock options exercised, Shares | 2,176 |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash flows from operating activities: | ||
Net income | $ 2,647 | $ 1,432 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Provision for loan losses | 495 | |
Increase (decrease) in deferred loan origination fees and costs, net | 305 | (64) |
Depreciation and amortization | 48 | 219 |
Gain on sale of investment securities | (172) | (38) |
Amortization of investment security premiums and discounts, net | 764 | 304 |
Increase in cash surrender values of life insurance policies | (61) | (84) |
Stock based compensation expense | 90 | 98 |
Decrease (increase) in accrued interest receivable and other assets | 651 | (407) |
Decrease in accrued interest payable and other liabilities | (239) | (2,380) |
Net cash provided by (used in) operating activities | 4,033 | (425) |
Cash flows from investing activities: | ||
Proceeds from the sale of available-for-sale investment securities | 11,048 | 4,229 |
Proceeds from matured available-for-sale investment securities | 734 | |
Purchases of available-for-sale investment securities | (22,793) | (4,987) |
Proceeds from principal repayments for available-for-sale investment securities | 15,446 | 10,848 |
Proceeds from principal repayments for held-to-maturity investment securities | 2 | 8 |
Net decrease in loans | 4,115 | 8,164 |
Purchases of loans | (1,285) | (2,837) |
Purchases of equipment | (2) | (24) |
Net cash provided by investing activities | 7,265 | 15,401 |
Cash flows from financing activities: | ||
Net increase in demand, interest-bearing and savings deposits | 38,552 | 1,193 |
Net increase (decrease) in time deposits | 5,840 | (2,894) |
Increase in short term borrowing | (4,000) | |
Proceeds from exercised options | 15 | |
Cash dividends paid | (416) | (413) |
Net cash provided by (used in) financing activities | 43,991 | (6,114) |
Increase in cash and cash equivalents | 55,289 | 8,862 |
Cash and cash equivalents at beginning of year | 42,509 | 17,810 |
Cash and cash equivalents at end of period | 97,798 | 26,672 |
Cash paid during the year for: | ||
Interest expense | 227 | 533 |
Income taxes |
CONSOLIDATED FINANCIAL STATEMEN
CONSOLIDATED FINANCIAL STATEMENTS | 3 Months Ended |
Mar. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
CONSOLIDATED FINANCIAL STATEMENTS | 1. CONSOLIDATED FINANCIAL STATEMENTS In the opinion of management, the unaudited consolidated financial statements contain all adjustments (consisting of only normal recurring adjustments) necessary to present fairly the consolidated financial position of American River Bankshares (the "Company") at March 31, 2021 and December 31, 2020, the results of its operations and its cash flows for the three-month periods ended March 31, 2021 and 2020 in conformity with accounting principles generally accepted in the United States of America. Certain disclosures normally presented in the notes to the annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been omitted. The Company believes that the disclosures are adequate to make the information not misleading. These interim consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's annual report on Form 10-K for the year ended December 31, 2020. The results of operations for the three-month period ended March 31, 2021 may not necessarily be indicative of the operating results for the full year. In preparing such financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the balance sheet and revenues and expenses for the period. Actual results could differ significantly from those estimates. Management has determined that since all of the banking products and services offered by the Company are available in each branch office of American River Bank, all branch offices are located within the same economic environment and management does not allocate resources based on the performance of different lending or transaction activities, it is appropriate to aggregate all of the branch offices and report them as a single operating segment. No client accounts for more than ten percent (10%) of revenues for the Company or American River Bank. |
STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION | 3 Months Ended |
Mar. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
STOCK-BASED COMPENSATION | 2. STOCK-BASED COMPENSATION Equity Plans On March 18, 2020, the Board of Directors adopted the 2020 Equity Incentive Plan (the “2020 Plan”). The 2020 Plan was approved by the Company’s shareholders on May 21, 2020. At March 31, 2021 there were 42,395 On March 17, 2010, the Board of Directors adopted the 2010 Equity Incentive Plan (the “2010 Plan”). The 2010 Plan was approved by the Company’s shareholders on May 20, 2010. At March 31, 2021 there were 27,782 23,364 The award date fair value of awards is determined by the market price of the Company's common stock on the date of award and is recognized ratably as compensation expense or director expense over the vesting periods. The shares of common stock awarded pursuant to such agreements vest in increments over one to five years from the date of award. The shares awarded to employees and directors under the restricted stock agreements vest on the applicable vesting dates only to the extent the recipient of the shares is then an employee or a director of the Company or one of its subsidiaries, and each recipient will forfeit all of the shares that have not vested on the date his or her employment or service is terminated. Equity Compensation For the three-month periods ended March 31, 2021 and 2020, the compensation cost recognized for equity compensation was $ 90,000 98,000 27,000 26,000 At March 31, 2021, there was no unrecognized pre-tax compensation cost related to nonvested stock option awards. At March 31, 2021 the total compensation cost related to restricted stock awards not yet recorded is $ 705,000 4.25 1.3 Equity Plans Activity Stock Options There were no stock options awarded during the three-month periods ended March 31, 2021 and 2020. A summary of option activity Options Shares Weighted Weighted Aggregate Outstanding at January 1, 2021 29,958 $ 8.79 3.4 $ 131 Granted — — — — Exercised (2,176 ) 7.07 — — Expired, forfeited or cancelled — — — — Outstanding at March 31, 2021 27,782 $ 8.93 3.3 $ 205 Vested at March 31, 2021 27,782 $ 8.93 3.3 $ 205 Non-vested at March 31, 2021 — $ — — $ — Restricted Stock There were 22,761 19,497 1,073,000 Schedule of nonvested share activity Restricted Stock Shares Weighted Nonvested at January 1, 2021 58,499 $ 13.03 Awarded 22,761 15.25 Less: Vested 15,501 14.61 Less: Expired, forfeited or cancelled — — Nonvested at March 31, 2021 65,759 $ 13.43 Other Equity Awards There were no stock appreciation rights, restricted performance stock, unrestricted Company stock, or performance units awarded during the three-month periods ended March 31, 2021 or 2020 or outstanding at March 31, 2021 or December 31, 2020. The intrinsic value used for stock options and restricted stock was derived from the market price of the Company’s common stock of $ 16.31 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 3 Months Ended |
Mar. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
COMMITMENTS AND CONTINGENCIES | 3. COMMITMENTS AND CONTINGENCIES In the normal course of business there are outstanding various commitments to extend credit which are not reflected in the financial statements, including loan commitments of approximately $ 43,649,000 60,000 32,851,000 Standby letters of credit are commitments issued to guarantee the performance or financial obligation of a client to a third party. These guarantees are issued primarily relating to purchases of inventory, insurance programs, performance obligations to government agencies, or as security for real estate rents by commercial clients and are typically short-term in nature. Credit risk is similar to that involved in extending loan commitments to clients and accordingly, evaluation and collateral requirements similar to those for loan commitments are used. The majority of all such commitments are collateralized. The fair value of the liability related to these standby letters of credit, which represents the fees received for issuing the guarantees, was not significant at March 31, 2021 or December 31, 2020. |
EARNINGS PER SHARE COMPUTATION
EARNINGS PER SHARE COMPUTATION | 3 Months Ended |
Mar. 31, 2021 | |
Earnings Per Share [Abstract] | |
EARNINGS PER SHARE COMPUTATION | 4. EARNINGS PER SHARE COMPUTATION Basic earnings per share is computed by dividing net income by the weighted average common shares outstanding for the period ( 5,886,297 5,858,919 35,661 24,657 zero |
INVESTMENT SECURITIES
INVESTMENT SECURITIES | 3 Months Ended |
Mar. 31, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
INVESTMENT SECURITIES | 5. INVESTMENT SECURITIES The amortized cost and estimated fair values of investment securities Available-for-Sale March 31, 2021 Amortized Gross Gross Estimated Debt securities: U.S. Government Agencies and Sponsored Agencies $ 261,826 $ 6,326 $ (1,665 ) $ 266,487 Obligations of states and political subdivisions 16,257 495 (29 ) 16,723 U. S Treasury securities 11,663 — (99 ) 11,564 Corporate bonds 6,749 110 (5 ) 6,854 $ 296,495 $ 6,931 $ (1,798 ) $ 301,628 December 31, 2020 Amortized Gross Gross Estimated Debt securities: U.S. Government Agencies and Sponsored Agencies $ 276,191 $ 8,474 $ (832 ) $ 283,833 Obligations of states and political subdivisions 15,288 1,013 — 16,301 Corporate bonds 6,748 85 (1 ) 6,832 $ 298,227 $ 9,572 $ (833 ) $ 306,966 Net unrealized gains on available-for-sale investment securities totaling $5,133,000 were recorded, net of $1,517,000 in tax liabilities, as accumulated other comprehensive income within shareholders’ equity at March 31, 2021. Proceeds and gross realized gains from the sale and call of available-for-sale investment securities for the three-month period ended March 31, 2021 totaled $ 11,048,000 172,000 Net unrealized gains on available-for-sale investment securities totaling $8,739,000 were recorded, net of $2,583,000 in tax liabilities, as accumulated other comprehensive loss within shareholders’ equity at December 31, 2020. Proceeds and gross realized gains from the sale and call of available-for-sale investment securities for the three-month period ended March 31, 2020 totaled $ 4,229,000 38,000 Held-to-Maturity March 31, 2021 Amortized Gross Gross Estimated Debt securities: U.S. Government Agencies and Sponsored Agencies $ 10 $ 1 $ — $ 11 December 31, 2020 Amortized Gross Gross Estimated Debt securities: U.S. Government Agencies and Sponsored Agencies $ 12 $ 1 $ — $ 13 There were no sales or transfers of held-to-maturity investment securities for the periods ended March 31, 2021 and March 31, 2020. Investment securities with unrealized losses at March 31, 2021 and December 31, 2020 are summarized and classified according to the duration of the loss period as follows (dollars in thousands): Investment securities with unrealized losses March 31, 2021 Less than 12 Months 12 Months or More Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Available-for-Sale Debt securities: U.S. Government Agencies and Sponsored Agencies $ 81,619 $ (1,307 ) $ 21,350 $ (358 ) $ 102,969 $ (1,665 ) Obligations of states and political subdivisions 2,328 (29 ) — — 2,328 (29 ) U. S Treasury securities 11,564 (99 ) 11,564 (99 ) Corporate bonds 745 (5 ) — — 745 (5 ) $ 96,256 $ (1,440 ) $ 21,350 $ (358 ) $ 117,606 $ (1,798 ) December 31, 2020 Less than 12 Months 12 Months or More Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Available-for-Sale Debt securities: U.S. Government Agencies and Sponsored Agencies $ 58,886 $ (403 ) $ 31,138 $ (429 ) $ 90,024 $ (832 ) Corporate bonds 749 (1 ) — — 749 (1 ) $ 59,635 $ (404 ) $ 31,138 $ (429 ) $ 90,773 $ (833 ) There were no held-to-maturity investment securities with unrealized losses as of March 31, 2021 or December 31, 2020. At March 31, 2021, the Company held 218 40 16 16 204 29 21 50 The unrealized loss on the Company's investment securities is primarily driven by interest rates. Because the decline in market value is attributable to a change in interest rates and not credit quality, and because the Company has the ability and intent to hold these investments until recovery of fair value, which may be until maturity, management does not consider these investments to be other-than-temporarily impaired. The amortized cost and estimated fair values of investment securities at March 31, 2021 by contractual maturity are shown below (dollars in thousands). The amortized cost and estimated fair value of investment securities Available-for-Sale Held-to-Maturity Amortized Estimated Amortized Estimated Within one year $ 2,279 $ 2,292 After one year through five years 360 361 After five years through ten years 28,523 28,956 After ten years 3,507 3,532 34,669 35,141 Investment securities not due at a single maturity date: U.S. Government Agencies and Sponsored Agencies 261,826 266,487 $ 10 $ 11 $ 296,495 $ 301,628 $ 10 $ 11 Expected maturities will differ from contractual maturities because the issuers of the securities may have the right to call or prepay obligations with or without call or prepayment penalties. |
IMPAIRED AND NONPERFORMING LOAN
IMPAIRED AND NONPERFORMING LOANS AND OTHER REAL ESTATE OWNED | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
IMPAIRED AND NONPERFORMING LOANS AND OTHER REAL ESTATE OWNED | 6. IMPAIRED AND NONPERFORMING LOANS AND OTHER REAL ESTATE OWNED At March 31, 2021 and December 31, 2020 the recorded investment in nonperforming loans was zero in both periods. Nonperforming loans include all such loans that are either placed on nonaccrual status or are 90 days past due as to principal or interest but still accrue interest because such loans are well-secured and in the process of collection. At March 31, 2021 and December 31, 2020, the recorded investment in other real estate owned (“OREO”) was $800,000. During the first quarter of 2021, the Company repossessed and sold two automobiles that had combined loan balances of $66,000 and took a combined charge to the Allowance for Loan Losses (“ALLL”) of $9,000. At March 31, 2021, the Company did not own any residential OREO properties nor were there any residential properties in the process of foreclosure. During 2021, the Company did not add any new or sell any of the OREO properties, nor did we decrease the book value on any of the properties. The March 31, 2021 OREO balance of $800,000 consisted of one parcel of land zoned for commercial use. Nonperforming loans and other assets and OREO at March 31, 2021 and December 31, 2020 are summarized as follows (in thousands): Nonperforming assets March 31, December 31, Nonaccrual loans that are current to terms (less than 30 days past due) $ — $ — Nonaccrual loans that are past due — — Loans past due 90 days and accruing interest — — Other real estate owned 800 800 Other assets — — Total nonperforming assets $ 800 $ 800 Nonperforming loans to total loans — — Total nonperforming assets to total assets 0.09 % 0.09 % The Company considers a loan to be impaired when, based on current information and events, it is probable that it will be unable to collect all amounts due (principal and interest) according to the contractual terms of the original loan agreement. Impaired loans as of and for the periods ended March 31, 2021 and December 31, 2020 are summarized as follows: Impaired loans (in thousands) As of March 31, 2021 As of December 31, 2020 Recorded Unpaid Related Recorded Unpaid Related With no related allowance recorded: Real estate-commercial $ 5,046 $ 5,180 $ — $ 5,075 $ 5,209 $ — Real estate-residential 311 398 — 312 399 — Subtotal $ 5,357 $ 5,578 $ — $ 5,387 $ 5,608 $ — With an allowance recorded: Real estate-commercial $ 1,512 $ 1,572 $ 100 1,539 1,599 106 Real estate-residential 120 120 9 124 124 6 Subtotal $ 1,632 $ 1,692 $ 109 $ 1,663 $ 1,723 $ 112 Total: Real estate-commercial $ 6,558 $ 6,752 $ 100 $ 6,614 $ 5,808 $ 106 Real estate-residential 431 518 9 436 523 6 $ 6,989 $ 7,270 $ 109 $ 7,050 $ 7,331 $ 112 The following table presents the average balance related to impaired loans Average Recorded Investments March 31, March 31, Real estate-commercial $ 6,586 $ 7,125 Real estate-residential 433 449 Total $ 7,019 $ 7,574 The following table presents the interest income recognized on impaired loans Interest Income Recognized March 31, March 31, Real estate-commercial $ 99 $ 106 Real estate-residential 7 7 Total $ 106 $ 113 |
TROUBLED DEBT RESTRUCTURINGS
TROUBLED DEBT RESTRUCTURINGS | 3 Months Ended |
Mar. 31, 2021 | |
Troubled Debt Restructurings | |
TROUBLED DEBT RESTRUCTURINGS | 7. TROUBLED DEBT RESTRUCTURINGS During the periods ended March 31, 2021 and 2020, there were no loans that were modified as troubled debt restructurings (“TDRs”). There were no payment defaults during the three months ended March 31, 2021 or March 31, 2020 on troubled debt restructurings made in the preceding twelve months. At March 31, 2021 and December 31, 2020, there were no unfunded commitments on those loans considered troubled debt restructures. See also “Impaired Loans” in Item 2. |
ALLOWANCE FOR LOAN LOSSES
ALLOWANCE FOR LOAN LOSSES | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
ALLOWANCE FOR LOAN LOSSES | 8. ALLOWANCE FOR LOAN LOSSES The Company’s loan portfolio allocated by management's internal risk ratings as of March 31, 2021 and December 31, 2020 are summarized below (Commercial “Pass” loans includes $ 57,486,000 55,546,000 March 31, 2021 Credit Risk Profile by Internally Assigned Grade (dollars in thousands) Real Estate Commercial Commercial Multi-family Construction Residential Grade: Pass $ 87,216 $ 227,925 $ 45,254 $ 25,242 $ 31,234 Watch 6,766 18,100 — — 515 Special mention — 1,437 — — — Substandard — 1,198 — — — Doubtful or loss — — — — — Total $ 93,982 $ 248,660 $ 45,254 $ 25,242 $ 31,749 Credit Risk Profile by Internally Assigned Grade Agriculture Consumer Total Grade: Pass $ 6,034 $ 26,462 $ 449,367 Watch — 133 25,514 Special mention — — 1,437 Substandard — — 1,198 Doubtful or loss — — — Total $ 6,034 $ 26,595 $ 477,516 December 31, 2020 Credit Risk Profile by Internally Assigned Grade (dollars in thousands) Real Estate Commercial Commercial Multi-family Construction Residential Grade: Pass $ 90,021 $ 229,887 $ 48,760 $ 18,424 $ 31,760 Watch 4,501 20,143 — — 569 Special mention — 118 — — — Substandard — 1,200 — — — Doubtful or loss — — — — — Total $ 94,522 $ 251,348 $ 48,760 $ 18,424 $ 32,329 Credit Risk Profile by Internally Assigned Grade Agriculture Consumer Total Grade: Pass $ 6,091 $ 28,668 $ 453,611 Watch — 136 25,349 Special mention — — 118 Substandard — — 1,200 Doubtful or loss — — — Total $ 6,091 $ 28,804 $ 480,278 The allocation of the Company’s allowance for loan losses and by portfolio segment and by impairment methodology are summarized below (Commercial loans includes $ 57,486,000 55,546,000 Schedule of Impaired Loans March 31, 2021 (dollars in thousands) Real Estate Other Commercial Commercial Multi-family Construction Residential Agriculture Consumer Unallocated Total Allowance for Loan Losses Beginning balance, January 1, 2021 $ 922 $ 3,466 $ 411 $ 687 $ 388 $ 85 $ 391 $ 278 $ 6,628 Provision for loan losses (149 ) (61 ) (34 ) 236 (1 ) — (19 ) 28 — Loans charged-off — — — — — — (9 ) — (9 ) Recoveries 76 1 — — — — — — 77 Ending balance, March 31, 2021 $ 849 $ 3,406 $ 377 $ 923 $ 387 $ 85 $ 363 $ 306 $ 6,696 Ending balance: Individually evaluated for impairment $ — $ 100 $ — $ — $ 9 $ — $ — $ — $ 109 Ending balance: Collectively evaluated for impairment $ 849 $ 3,306 $ 377 $ 923 $ 378 $ 85 $ 363 $ 306 $ 6,587 Loans Ending balance $ 93,982 $ 248,660 $ 45,254 $ 25,242 $ 31,749 $ 6,034 $ 26,595 $ — $ 477,516 Ending balance: Individually evaluated for impairment $ — $ 6,558 $ — $ — $ 431 $ — $ — $ — $ 6,989 Ending balance: Collectively evaluated for impairment $ 93,982 $ 242,102 $ 45,254 $ 25,242 $ 31,318 $ 6,034 $ 26,595 $ — $ 470,527 December 31, 2020 (dollars in thousands) Real Estate Other Commercial Commercial Multi-family Construction Residential Agriculture Consumer Unallocated Total Allowance for Loan Losses Ending balance $ 922 $ 3,466 $ 411 $ 687 $ 388 $ 85 $ 391 $ 278 $ 6,628 Ending balance: Individually evaluated for impairment $ — $ 106 $ — $ — $ 6 $ — $ — $ — $ 112 Ending balance: Collectively evaluated for impairment $ 922 $ 3,360 $ 411 $ 687 $ 382 $ 85 $ 391 $ 278 $ 6,516 Loans Ending balance $ 94,522 $ 251,348 $ 48,760 $ 18,424 $ 32,329 $ 6,091 $ 28,804 $ — $ 480,278 Ending balance: Individually evaluated for impairment $ — $ 6,614 $ — $ — $ 436 $ — $ — $ — $ 7,050 Ending balance: Collectively evaluated for impairment $ 94,522 $ 244,734 $ 48,760 $ 18,424 $ 31,893 $ 6,091 $ 28,804 $ — $ 473,228 March 31, 2020 (dollars in thousands) Real Estate Other Commercial Commercial Multi-family Construction Residential Agriculture Consumer Unallocated Total Beginning balance, January 1, 2020 $ 950 $ 1,906 $ 329 $ 986 $ 281 $ 107 $ 334 $ 245 $ 5,138 Provision for loan losses 63 349 64 (98 ) 56 (4 ) 58 7 495 Loans charged-off — — — — — — — — — Recoveries 1 3 — — — — — — 4 Ending balance, March 31, 2020 $ 1,014 $ 2,258 $ 393 $ 888 $ 337 $ 103 $ 392 $ 252 $ 5,637 The Company’s aging analysis of the loan portfolio 57,486,000 $55,546,000 March 31, 2021 (dollars in thousands) 30-59 Days 60-89 Days Past Due Total Past Current Total Loans Past Due Nonaccrual Commercial: Commercial $ — $ — $ — $ — $ 93,982 $ 93,982 $ — $ — Real estate: Commercial — — — — 248,660 248,660 — — Multi-family — — — — 45,254 45,254 — — Construction — — — — 25,242 25,242 — — Residential — — — — 31,749 31,749 — — Other: Agriculture — — — — 6,034 6,034 — — Consumer — — — — 26,595 26,595 — — Total $ — $ — $ — $ — $ 477,516 $ 477,516 $ — $ — December 31, 2020 (dollars in thousands) 30-59 Days 60-89 Days Past Due Total Past Current Total Loans Past Due Nonaccrual Commercial: Commercial $ — $ — $ — $ — $ 94,522 $ 94,522 $ — $ — Real estate: Commercial — — — — 251,348 251,348 — — Multi-family — — — — 48,760 48,760 — — Construction — — — — 18,424 18,424 — — Residential — — — — 32,329 32,329 — — Other: Agriculture — — — — 6,091 6,091 — — Consumer — — — — 28,804 28,804 — — Total $ — $ — $ — $ — $ 480,278 $ 480,278 $ — $ — The Federal Deposit Insurance Corporation (the “FDIC”) is encouraging financial institutions, like American River Bank, to provide borrowers affected in a variety of ways by the COVID-19 outbreak with payment accommodations that facilitate their ability to work through the immediate impact of the virus. Such assistance provided in a prudent manner to borrowers facing short-term setbacks could help the borrower and our community to recover. The FDIC indicated that these loan accommodation programs should be ultimately targeted toward loan repayment, but that if provided in a prudent manner such programs can help borrowers and communities recover from short-term setbacks. The FDIC suggested that financial institutions should consider ways to address any deferred or skipped payments such as extending the original maturity date or by making those payments due in a balloon payment at the maturity date of the loan. During 2020, the Company made arrangements with some of its borrowers to defer principal and interest payments from three to six months and extend the original maturities by a like term, defer principal and interest payments from three to six months, with the amount deferred due at maturity, and defer principle payments for six months, with the amount deferred due at maturity. These arrangements are not considered TDRs as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), provided relief from certain requirements under U.S. GAAP. Section 4013 of the CARES Act gives entities temporary relief from the accounting and disclosure requirements for TDRs under Accounting Standards Codification (“ASC”) 310-40 in certain situations. All of these arrangements met such requirements. The Company continues to accrue interest on all of the loan deferrals. The amount of deferred loans at June 30, 2020 totaled $96,465,000. This balance has been reduced by paydowns, payoffs, or loans returning to normal payments, to $4,882,000 as of December 31, 2020. These loans are not considered past due until after the deferral period is over and scheduled payments have resumed. During the first quarter of 2021, both of the loan deferrals comprised of the $4,882,000 at December 31, 2020 began making their scheduled payments and one additional loan, in the amount of $2,017,000, was granted a three-month interest only arrangement and is scheduled to resume contractual payments in the second quarter of 2021. |
LEASES
LEASES | 3 Months Ended |
Mar. 31, 2021 | |
Leases [Abstract] | |
LEASES | 9. LEASES The Company leases nine locations for administrative offices and branch locations. All leases were classified as operating leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet and the related lease expense is recognized on a straight-line basis over the lease term. The Company elected to use the practical expedient to not recognize short-term leases on the consolidated balance sheet and instead account for them as executory contracts. Certain leases include options to renew, with renewal terms that can extend the lease term, typically for five years. Lease assets and liabilities include related options that are reasonably certain of being exercised, however, in the case of those leases that have renewal options, the Company is not including those additional lease terms as the rates are undeterminable and it has been the Company’s historical practice to renegotiate lease terms upon expiration of the original lease terms. The depreciable life of leased assets is limited by the expected lease term. Supplemental lease information 2021 2020 Balance Sheet Operating lease asset classified as other assets $ 2,551,000 $ 2,717,000 Operating lease liability classified as other liabilities 2,730,000 2,392,000 Income Statement Operating lease cost classified as occupancy and equipment expense $ 194,000 $ 190,000 Weighted average lease term, in years 5.87 5.47 Weighted average discount rate (1) 2.98 % 2.98 % Operating cash flows $ 190,000 $ 194,000 (1) The discount rate was developed by using the fixed rate credit advance borrowing rate at the Federal Home Loan Bank of San Francisco for a term correlating to the remaining life of each lease. A maturity analysis of the Company’s lease liabilities Balance April 1, 2021 to December 31, 2021 $ 583,000 January 1, 2021 to December 31, 2022 753,000 January 1, 2022 to December 31, 2023 329,000 January 1, 2023 to December 31, 2024 322,000 January 1, 2024 to December 31, 2025 232,000 Thereafter 753,000 Total lease payments 2,972,000 Less: Interest (242,000 ) Present value of lease liabilities $ 2,730,000 |
BORROWING ARRANGEMENTS
BORROWING ARRANGEMENTS | 3 Months Ended |
Mar. 31, 2021 | |
Debt Disclosure [Abstract] | |
BORROWING ARRANGEMENTS | 10. BORROWING ARRANGEMENTS At March 31, 2021 and December 31, 2020, the Company had $ 17,000,000 The Company has a line of credit available with the Federal Home Loan Bank of San Francisco (the “FHLB”) which is secured by pledged mortgage loans and investment securities. Borrowings may include overnight advances as well as loans with terms of up to thirty years. Advances (both short-term and long-term) totaling $ 20,787,000 0.00% 2.43% 2021 2025 152,049,000 132,409,000 6,021,000 6,209,000 |
INCOME TAXES
INCOME TAXES | 3 Months Ended |
Mar. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
INCOME TAXES | 11. INCOME TAXES The Company files its income taxes on a consolidated basis with its subsidiaries. The allocation of income tax expense (benefit) represents each entity's proportionate share of the consolidated provision for (benefit from) income taxes. The Company accounts for income taxes using the balance sheet method, under which deferred tax assets and liabilities are recognized for the tax consequences of temporary differences between the reported amounts of assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. On the consolidated balance sheet, net deferred tax assets are included in accrued interest receivable and other assets. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above, if applicable, is reflected as a liability for unrecognized tax benefits in the accompanying balance sheet along with any associated interest and penalties that would be payable to the taxing authorities upon examination. The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if applicable, as a component of interest expense in the consolidated statement of income. There have been no unrecognized tax benefits or accrued interest and penalties for the three-month periods ended March 31, 2021 and 2020. |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 3 Months Ended |
Mar. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE MEASUREMENTS | 12. FAIR VALUE MEASUREMENTS The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring and nonrecurring basis as of March 31, 2021 and December 31, 2020. They indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value. The authoritative accounting guidance for fair value measurements defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The fair value measurement is the exchange price to sell the asset or transfer the liability (exit price) in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability shall not be adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact, and (iv) willing to transact. The authoritative accounting guidance requires the use of valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement costs). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources, or unobservable, meaning those that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. In that regard, the authoritative guidance establishes a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: · Level 1 Inputs – Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. · Level 2 Inputs – Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (for example, interest rates, volatilities, prepayment speeds, loss severities, credit risks and default rates) or inputs that are derived principally from or corroborated by observable market data by correlation or other means. · Level 3 Inputs – Significant unobservable inputs that reflect an entity’s own assumptions that market participants would use in pricing the assets or liabilities. A description of the valuation methodologies used for assets and liabilities measured at fair value, as well as the general classification of such instruments pursuant to the valuation hierarchy, is set forth below. In general, fair value is based upon quoted market prices, where available. If such quoted market prices are not available, fair value is based upon internally developed models that primarily use, as inputs, observable market-based parameters. Valuation adjustments may be made to ensure that financial instruments are recorded at fair value. While management believes the Company’s valuation methodologies are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Securities classified as available-for-sale are reported at fair value utilizing Level 1 and Level 2 inputs. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include market spreads, cash flows, the United States Treasury yield curve, live trading levels, trade execution data, dealer quotes, market consensus prepayments speeds, credit information and the security’s terms and conditions, among other items. Schedule of Estimated Fair Value of Financial Instruments Carrying Fair Value Measurements Using: March 31, 2021 Amount Level 1 Level 2 Level 3 Total Financial assets: Cash and due from banks $ 18,927 $ 18,927 $ — $ — $ 18,927 Interest-bearing deposits in banks 78,871 78,871 — — 78,871 Available-for-sale Securities 301,628 — 301,628 — 301,628 Held-to-maturity securities 10 — 11 — 11 Net loans 468,718 — — 479,432 479,432 Accrued interest receivable 3,460 — 1,502 1,958 3,460 Financial liabilities: Deposits: Noninterest-bearing $ 339,714 $ 339,714 $ — $ — $ 339,714 Savings 93,622 93,622 — — 93,622 Money market 186,086 186,086 — — 186,086 Interest checking 94,126 94,126 — — 94,126 Time Deposits 75,021 — 75,347 — 75,347 Short-term borrowings 7,000 7,000 — — 7,000 Long-term borrowings 13,787 — 13,945 — 13,945 Accrued interest payable 37 9 28 — 37 Carrying Fair Value Measurements Using: December 31, 2020 Amount Level 1 Level 2 Level 3 Total Financial assets: Cash and due from banks $ 14,030 $ 14,030 $ — $ — $ 14,030 Interest-bearing deposits in banks 28,479 26,733 1,746 — 28,479 Available-for-sale Securities 306,966 — 306,966 — 306,966 Held-to-maturity securities 12 — 13 — 13 Net loans: 471,853 — — 474,400 474,400 Accrued interest receivable 3,733 — 1,428 2,305 3,733 Financial liabilities: Deposits: Noninterest-bearing $ 330,095 $ 330,095 $ — $ — $ 330,095 Savings 87,315 87,315 — — 87,315 Money market 175,541 175,541 — — 175,541 Interest checking 82,045 82,045 — — 82,045 Time Deposits 69,181 — 69,511 — 69,511 Short-term borrowings 7,000 7,000 — — 7,000 Long-term borrowings 13,787 — 13,967 — 13,967 Accrued interest payable 42 3 39 — 42 Because no market exists for a significant portion of the Company's financial instruments, fair value estimates are based on judgments regarding current economic conditions, risk characteristics of various financial instruments and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the fair values presented. Assets and liabilities measured at fair value on a recurring and non-recurring basis are presented in the following table: Assets and liabilities measured at fair value on a recurring and non-recurring basis Description Fair Value Measurements Using Total Gains (dollars in thousands) Fair Value Level 1 Level 2 Level 3 (Losses) March 31, 2021 Assets and liabilities measured on a recurring basis: Available-for-sale securities: U.S. Government Agencies and Sponsored Entities $ 266,487 $ — $ 266,487 $ — $ — Obligations of states and political subdivisions 16,723 — 16,723 — — U.S. Treasury securities 11,564 11,564 — — — Corporate Debt securities 6,854 — 6,854 — — Total recurring $ 301,628 $ 11,564 $ 290,064 $ — $ — Assets and liabilities measured on a nonrecurring basis: Other real estate owned Land $ 800 $ — $ — $ 800 $ — Total nonrecurring $ 800 $ — $ — $ 800 $ — Description Fair Value Measurements Using Total Gains (dollars in thousands) Fair Value Level 1 Level 2 Level 3 (Losses) December 31, 2020 Assets and liabilities measured on a recurring basis: Available-for-sale securities: U.S. Government Agencies and Sponsored Agencies $ 283,833 $ — $ 283,833 $ — $ — Corporate Debt securities 6,832 — 6,832 Obligations of states and political subdivisions 16,301 — 16,301 — — Total recurring $ 306,966 $ — $ 306,966 $ — $ — Assets and liabilities measured on a nonrecurring basis: Other real estate owned Land $ 800 $ — $ — $ 800 $ (46 ) Total nonrecurring $ 800 $ — $ — $ 800 $ (46 ) The following methods were used to estimate the fair value of each class of financial instrument above: Available-for-sale securities – Other assets and real estate owned |
RECENTLY ISSUED ACCOUNTING PRON
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Changes and Error Corrections [Abstract] | |
RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS | 13. RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS In June 2016, the Financial Accounting Standards Board (the "FASB") issued ASU No. 2016-13, " Measurement of Credit Losses on Financial Instruments. |
NOVEL CORONAVIRUS PANDEMIC (_CO
NOVEL CORONAVIRUS PANDEMIC (“COVID-19”) | 3 Months Ended |
Mar. 31, 2021 | |
Novel Coronavirus Pandemic | |
NOVEL CORONAVIRUS PANDEMIC (“COVID-19”) | 14. NOVEL CORONAVIRUS PANDEMIC (“COVID-19”) The COVID-19 pandemic has placed significant health, economic and other major pressures on the individuals and communities we serve, the state of California, the United States and the entire world. We have implemented a number of procedures in response to the pandemic to support the safety and wellbeing of our employees and clients, and the financial viability of our clients, that continue through the date of this report: · We have addressed the safety of our ten branches and our corporate office, following the guidelines of the Centers for Disease Control. While our branches generally remain open to clients, we have taken steps, and continue to evaluate those steps, to push as much traffic and transactions as possible to our digital and electronic channels and our night depositories, and many of our employees can and are working remotely ; · We hold regular executive meetings to address issues that change rapidly; · Provided extensions and loan payment deferrals to our borrowers effected by COVID-19 provided such clients were not 30 days past due; and · We have been participating in the Paycheck Protection Program (“PPP”) under CARES Act to help provide potentially forgivable loans to our business clients to provide them with additional working capital to enable them to retain their employees. During the second quarter of 2020, we funded 477 80,154,000 201 25,465,000 57,486,000 We continue to closely monitor this pandemic and expect to make future changes to respond to the pandemic as this situation continues to evolve. The potential financial impact is unknown at this time. However, if the economic downturn currently being experienced is sustained, it may adversely impact industries within our business footprint and impair the ability of the Company’s borrowers to fulfill their contractual obligations and reduce our opportunity to create new client relationships. This could cause the Company to experience a material adverse effect to its business operations, asset valuations, financial condition and results of operations. Material adverse effects may include losses in earnings, higher loan loss provisions, and valuation impairments on the Company’s loans, investments, goodwill, or deferred tax assets. |
SUBSEQUENT EVENT
SUBSEQUENT EVENT | 3 Months Ended |
Mar. 31, 2021 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENT | 15. SUBSEQUENT EVENT On April 16, 2021, the Company entered into a Merger Agreement that, upon the terms and subject to the conditions set forth therein, the Company will merge (the “Merger”) with and into Bank of Marin Bancorp (“Marin Bancorp”) with Marin Bancorp surviving, followed immediately thereafter by the merger (the “Bank Merger”) of American River Bank, with and into Bank of Marin, a California corporation and wholly-owned subsidiary of Marin Bancorp, with Bank of Marin surviving. The Merger Agreement was approved by the Board of Directors of each of the Company and Marin Bancorp. Subject to the terms and conditions of the Merger Agreement, at the effective time of the Merger (the “Effective Time”), each outstanding share of the Company’s common stock, excluding certain specified shares, will be converted into the right to receive 0.575 (the “Exchange Ratio”) of a share of Marin Bancorp common stock (the “Merger Consideration”). In addition, at the Effective Time, (i) each option to purchase shares of Company common stock, whether vested or unvested, that is outstanding immediately prior to the Effective Time will be canceled and exchanged for the right to receive an amount of cash equal to the product of (x) the total number of shares of Company common stock subject to such option and (y) the excess, if any, of (A) the product of (1) the volume weighted average price of Marin Bancorp common stock on each of the last fifteen trading days ending on the second trading day immediately prior to the Effective Time, and (2) the Exchange Ratio, over (B) the exercise price per share under such option, less applicable taxes required to be withheld with respect to such payment; and (ii) any vesting conditions applicable to each outstanding restricted stock award and each outstanding restricted stock unit will accelerate in full, and each such restricted stock award and restricted stock unit will be treated as any other outstanding share of Company common stock entitled to receive the Merger Consideration. See the Company’s Form 8-K filed with the SEC on April 19, 2021 for further information. |
STOCK-BASED COMPENSATION (Table
STOCK-BASED COMPENSATION (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
summary of option activity | There were no stock options awarded during the three-month periods ended March 31, 2021 and 2020. A summary of option activity |
STOCK-BASED COMPENSATION | Options Shares Weighted Weighted Aggregate Outstanding at January 1, 2021 29,958 $ 8.79 3.4 $ 131 Granted — — — — Exercised (2,176 ) 7.07 — — Expired, forfeited or cancelled — — — — Outstanding at March 31, 2021 27,782 $ 8.93 3.3 $ 205 Vested at March 31, 2021 27,782 $ 8.93 3.3 $ 205 Non-vested at March 31, 2021 — $ — — $ — |
Schedule of nonvested share activity | Schedule of nonvested share activity |
STOCK-BASED COMPENSATION (Details 2) | Restricted Stock Shares Weighted Nonvested at January 1, 2021 58,499 $ 13.03 Awarded 22,761 15.25 Less: Vested 15,501 14.61 Less: Expired, forfeited or cancelled — — Nonvested at March 31, 2021 65,759 $ 13.43 |
INVESTMENT SECURITIES (Tables)
INVESTMENT SECURITIES (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Investments, Debt and Equity Securities [Abstract] | |
Available-for-Sale | The amortized cost and estimated fair values of investment securities Available-for-Sale |
INVESTMENT SECURITIES | March 31, 2021 Amortized Gross Gross Estimated Debt securities: U.S. Government Agencies and Sponsored Agencies $ 261,826 $ 6,326 $ (1,665 ) $ 266,487 Obligations of states and political subdivisions 16,257 495 (29 ) 16,723 U. S Treasury securities 11,663 — (99 ) 11,564 Corporate bonds 6,749 110 (5 ) 6,854 $ 296,495 $ 6,931 $ (1,798 ) $ 301,628 December 31, 2020 Amortized Gross Gross Estimated Debt securities: U.S. Government Agencies and Sponsored Agencies $ 276,191 $ 8,474 $ (832 ) $ 283,833 Obligations of states and political subdivisions 15,288 1,013 — 16,301 Corporate bonds 6,748 85 (1 ) 6,832 $ 298,227 $ 9,572 $ (833 ) $ 306,966 |
Held-to-Maturity | Held-to-Maturity |
INVESTMENT SECURITIES (Details 2) | March 31, 2021 Amortized Gross Gross Estimated Debt securities: U.S. Government Agencies and Sponsored Agencies $ 10 $ 1 $ — $ 11 December 31, 2020 Amortized Gross Gross Estimated Debt securities: U.S. Government Agencies and Sponsored Agencies $ 12 $ 1 $ — $ 13 |
Investment securities with unrealized losses | Investment securities with unrealized losses |
INVESTMENT SECURITIES (Details 3) | March 31, 2021 Less than 12 Months 12 Months or More Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Available-for-Sale Debt securities: U.S. Government Agencies and Sponsored Agencies $ 81,619 $ (1,307 ) $ 21,350 $ (358 ) $ 102,969 $ (1,665 ) Obligations of states and political subdivisions 2,328 (29 ) — — 2,328 (29 ) U. S Treasury securities 11,564 (99 ) 11,564 (99 ) Corporate bonds 745 (5 ) — — 745 (5 ) $ 96,256 $ (1,440 ) $ 21,350 $ (358 ) $ 117,606 $ (1,798 ) December 31, 2020 Less than 12 Months 12 Months or More Total Fair Value Unrealized Fair Value Unrealized Fair Value Unrealized Available-for-Sale Debt securities: U.S. Government Agencies and Sponsored Agencies $ 58,886 $ (403 ) $ 31,138 $ (429 ) $ 90,024 $ (832 ) Corporate bonds 749 (1 ) — — 749 (1 ) $ 59,635 $ (404 ) $ 31,138 $ (429 ) $ 90,773 $ (833 ) |
The amortized cost and estimated fair value of investment securities | The amortized cost and estimated fair value of investment securities |
INVESTMENT SECURITIES (Details 4) | Available-for-Sale Held-to-Maturity Amortized Estimated Amortized Estimated Within one year $ 2,279 $ 2,292 After one year through five years 360 361 After five years through ten years 28,523 28,956 After ten years 3,507 3,532 34,669 35,141 Investment securities not due at a single maturity date: U.S. Government Agencies and Sponsored Agencies 261,826 266,487 $ 10 $ 11 $ 296,495 $ 301,628 $ 10 $ 11 |
IMPAIRED AND NONPERFORMING LO_2
IMPAIRED AND NONPERFORMING LOANS AND OTHER REAL ESTATE OWNED (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Nonperforming assets | Nonperforming assets |
IMPAIRED AND NONPERFORMING LOANS AND OTHER REAL ESTATE OWNED | March 31, December 31, Nonaccrual loans that are current to terms (less than 30 days past due) $ — $ — Nonaccrual loans that are past due — — Loans past due 90 days and accruing interest — — Other real estate owned 800 800 Other assets — — Total nonperforming assets $ 800 $ 800 Nonperforming loans to total loans — — Total nonperforming assets to total assets 0.09 % 0.09 % |
Impaired loans | Impaired loans |
IMPAIRED AND NONPERFORMING LOANS AND OTHER REAL ESTATE OWNED (Details 2) | (in thousands) As of March 31, 2021 As of December 31, 2020 Recorded Unpaid Related Recorded Unpaid Related With no related allowance recorded: Real estate-commercial $ 5,046 $ 5,180 $ — $ 5,075 $ 5,209 $ — Real estate-residential 311 398 — 312 399 — Subtotal $ 5,357 $ 5,578 $ — $ 5,387 $ 5,608 $ — With an allowance recorded: Real estate-commercial $ 1,512 $ 1,572 $ 100 1,539 1,599 106 Real estate-residential 120 120 9 124 124 6 Subtotal $ 1,632 $ 1,692 $ 109 $ 1,663 $ 1,723 $ 112 Total: Real estate-commercial $ 6,558 $ 6,752 $ 100 $ 6,614 $ 5,808 $ 106 Real estate-residential 431 518 9 436 523 6 $ 6,989 $ 7,270 $ 109 $ 7,050 $ 7,331 $ 112 |
average balance related to impaired loans | The following table presents the average balance related to impaired loans |
IMPAIRED AND NONPERFORMING LOANS AND OTHER REAL ESTATE OWNED (Details 3) | Average Recorded Investments March 31, March 31, Real estate-commercial $ 6,586 $ 7,125 Real estate-residential 433 449 Total $ 7,019 $ 7,574 |
interest income recognized on impaired loans | The following table presents the interest income recognized on impaired loans |
IMPAIRED AND NONPERFORMING LOANS AND OTHER REAL ESTATE OWNED (Details 4) | Interest Income Recognized March 31, March 31, Real estate-commercial $ 99 $ 106 Real estate-residential 7 7 Total $ 106 $ 113 |
ALLOWANCE FOR LOAN LOSSES (Tabl
ALLOWANCE FOR LOAN LOSSES (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Financing Receivable Credit Quality Indicators [Table Text Block] | |
Credit Risk Profile by Internally Assigned Grade | March 31, 2021 Credit Risk Profile by Internally Assigned Grade (dollars in thousands) Real Estate Commercial Commercial Multi-family Construction Residential Grade: Pass $ 87,216 $ 227,925 $ 45,254 $ 25,242 $ 31,234 Watch 6,766 18,100 — — 515 Special mention — 1,437 — — — Substandard — 1,198 — — — Doubtful or loss — — — — — Total $ 93,982 $ 248,660 $ 45,254 $ 25,242 $ 31,749 Credit Risk Profile by Internally Assigned Grade Agriculture Consumer Total Grade: Pass $ 6,034 $ 26,462 $ 449,367 Watch — 133 25,514 Special mention — — 1,437 Substandard — — 1,198 Doubtful or loss — — — Total $ 6,034 $ 26,595 $ 477,516 December 31, 2020 Credit Risk Profile by Internally Assigned Grade (dollars in thousands) Real Estate Commercial Commercial Multi-family Construction Residential Grade: Pass $ 90,021 $ 229,887 $ 48,760 $ 18,424 $ 31,760 Watch 4,501 20,143 — — 569 Special mention — 118 — — — Substandard — 1,200 — — — Doubtful or loss — — — — — Total $ 94,522 $ 251,348 $ 48,760 $ 18,424 $ 32,329 Credit Risk Profile by Internally Assigned Grade Agriculture Consumer Total Grade: Pass $ 6,091 $ 28,668 $ 453,611 Watch — 136 25,349 Special mention — — 118 Substandard — — 1,200 Doubtful or loss — — — Total $ 6,091 $ 28,804 $ 480,278 |
Schedule of Impaired Loans | Schedule of Impaired Loans |
ALLOWANCE FOR LOAN LOSSES (Details 2) | March 31, 2021 (dollars in thousands) Real Estate Other Commercial Commercial Multi-family Construction Residential Agriculture Consumer Unallocated Total Allowance for Loan Losses Beginning balance, January 1, 2021 $ 922 $ 3,466 $ 411 $ 687 $ 388 $ 85 $ 391 $ 278 $ 6,628 Provision for loan losses (149 ) (61 ) (34 ) 236 (1 ) — (19 ) 28 — Loans charged-off — — — — — — (9 ) — (9 ) Recoveries 76 1 — — — — — — 77 Ending balance, March 31, 2021 $ 849 $ 3,406 $ 377 $ 923 $ 387 $ 85 $ 363 $ 306 $ 6,696 Ending balance: Individually evaluated for impairment $ — $ 100 $ — $ — $ 9 $ — $ — $ — $ 109 Ending balance: Collectively evaluated for impairment $ 849 $ 3,306 $ 377 $ 923 $ 378 $ 85 $ 363 $ 306 $ 6,587 Loans Ending balance $ 93,982 $ 248,660 $ 45,254 $ 25,242 $ 31,749 $ 6,034 $ 26,595 $ — $ 477,516 Ending balance: Individually evaluated for impairment $ — $ 6,558 $ — $ — $ 431 $ — $ — $ — $ 6,989 Ending balance: Collectively evaluated for impairment $ 93,982 $ 242,102 $ 45,254 $ 25,242 $ 31,318 $ 6,034 $ 26,595 $ — $ 470,527 |
Company’s aging analysis of the loan portfolio | The Company’s aging analysis of the loan portfolio 57,486,000 $55,546,000 |
ALLOWANCE FOR LOAN LOSSES (Details 3) | March 31, 2021 (dollars in thousands) 30-59 Days 60-89 Days Past Due Total Past Current Total Loans Past Due Nonaccrual Commercial: Commercial $ — $ — $ — $ — $ 93,982 $ 93,982 $ — $ — Real estate: Commercial — — — — 248,660 248,660 — — Multi-family — — — — 45,254 45,254 — — Construction — — — — 25,242 25,242 — — Residential — — — — 31,749 31,749 — — Other: Agriculture — — — — 6,034 6,034 — — Consumer — — — — 26,595 26,595 — — Total $ — $ — $ — $ — $ 477,516 $ 477,516 $ — $ — December 31, 2020 (dollars in thousands) 30-59 Days 60-89 Days Past Due Total Past Current Total Loans Past Due Nonaccrual Commercial: Commercial $ — $ — $ — $ — $ 94,522 $ 94,522 $ — $ — Real estate: Commercial — — — — 251,348 251,348 — — Multi-family — — — — 48,760 48,760 — — Construction — — — — 18,424 18,424 — — Residential — — — — 32,329 32,329 — — Other: Agriculture — — — — 6,091 6,091 — — Consumer — — — — 28,804 28,804 — — Total $ — $ — $ — $ — $ 480,278 $ 480,278 $ — $ — |
LEASES (Tables)
LEASES (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Leases [Abstract] | |
Supplemental lease information | Supplemental lease information |
LEASES | 2021 2020 Balance Sheet Operating lease asset classified as other assets $ 2,551,000 $ 2,717,000 Operating lease liability classified as other liabilities 2,730,000 2,392,000 Income Statement Operating lease cost classified as occupancy and equipment expense $ 194,000 $ 190,000 Weighted average lease term, in years 5.87 5.47 Weighted average discount rate (1) 2.98 % 2.98 % Operating cash flows $ 190,000 $ 194,000 |
maturity analysis of the Company’s lease liabilities | A maturity analysis of the Company’s lease liabilities |
LEASES (Details 2) | Balance April 1, 2021 to December 31, 2021 $ 583,000 January 1, 2021 to December 31, 2022 753,000 January 1, 2022 to December 31, 2023 329,000 January 1, 2023 to December 31, 2024 322,000 January 1, 2024 to December 31, 2025 232,000 Thereafter 753,000 Total lease payments 2,972,000 Less: Interest (242,000 ) Present value of lease liabilities $ 2,730,000 |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Schedule of Estimated Fair Value of Financial Instruments | Schedule of Estimated Fair Value of Financial Instruments |
FAIR VALUE MEASUREMENTS | Carrying Fair Value Measurements Using: March 31, 2021 Amount Level 1 Level 2 Level 3 Total Financial assets: Cash and due from banks $ 18,927 $ 18,927 $ — $ — $ 18,927 Interest-bearing deposits in banks 78,871 78,871 — — 78,871 Available-for-sale Securities 301,628 — 301,628 — 301,628 Held-to-maturity securities 10 — 11 — 11 Net loans 468,718 — — 479,432 479,432 Accrued interest receivable 3,460 — 1,502 1,958 3,460 Financial liabilities: Deposits: Noninterest-bearing $ 339,714 $ 339,714 $ — $ — $ 339,714 Savings 93,622 93,622 — — 93,622 Money market 186,086 186,086 — — 186,086 Interest checking 94,126 94,126 — — 94,126 Time Deposits 75,021 — 75,347 — 75,347 Short-term borrowings 7,000 7,000 — — 7,000 Long-term borrowings 13,787 — 13,945 — 13,945 Accrued interest payable 37 9 28 — 37 Carrying Fair Value Measurements Using: December 31, 2020 Amount Level 1 Level 2 Level 3 Total Financial assets: Cash and due from banks $ 14,030 $ 14,030 $ — $ — $ 14,030 Interest-bearing deposits in banks 28,479 26,733 1,746 — 28,479 Available-for-sale Securities 306,966 — 306,966 — 306,966 Held-to-maturity securities 12 — 13 — 13 Net loans: 471,853 — — 474,400 474,400 Accrued interest receivable 3,733 — 1,428 2,305 3,733 Financial liabilities: Deposits: Noninterest-bearing $ 330,095 $ 330,095 $ — $ — $ 330,095 Savings 87,315 87,315 — — 87,315 Money market 175,541 175,541 — — 175,541 Interest checking 82,045 82,045 — — 82,045 Time Deposits 69,181 — 69,511 — 69,511 Short-term borrowings 7,000 7,000 — — 7,000 Long-term borrowings 13,787 — 13,967 — 13,967 Accrued interest payable 42 3 39 — 42 |
Assets and liabilities measured at fair value on a recurring and non-recurring basis | Assets and liabilities measured at fair value on a recurring and non-recurring basis |
FAIR VALUE MEASUREMENTS (Details 2) | Description Fair Value Measurements Using Total Gains (dollars in thousands) Fair Value Level 1 Level 2 Level 3 (Losses) March 31, 2021 Assets and liabilities measured on a recurring basis: Available-for-sale securities: U.S. Government Agencies and Sponsored Entities $ 266,487 $ — $ 266,487 $ — $ — Obligations of states and political subdivisions 16,723 — 16,723 — — U.S. Treasury securities 11,564 11,564 — — — Corporate Debt securities 6,854 — 6,854 — — Total recurring $ 301,628 $ 11,564 $ 290,064 $ — $ — Assets and liabilities measured on a nonrecurring basis: Other real estate owned Land $ 800 $ — $ — $ 800 $ — Total nonrecurring $ 800 $ — $ — $ 800 $ — Description Fair Value Measurements Using Total Gains (dollars in thousands) Fair Value Level 1 Level 2 Level 3 (Losses) December 31, 2020 Assets and liabilities measured on a recurring basis: Available-for-sale securities: U.S. Government Agencies and Sponsored Agencies $ 283,833 $ — $ 283,833 $ — $ — Corporate Debt securities 6,832 — 6,832 Obligations of states and political subdivisions 16,301 — 16,301 — — Total recurring $ 306,966 $ — $ 306,966 $ — $ — Assets and liabilities measured on a nonrecurring basis: Other real estate owned Land $ 800 $ — $ — $ 800 $ (46 ) Total nonrecurring $ 800 $ — $ — $ 800 $ (46 ) |
STOCK-BASED COMPENSATION (Detai
STOCK-BASED COMPENSATION (Details) $ / shares in Units, $ in Thousands | 3 Months Ended |
Mar. 31, 2021USD ($)$ / sharesshares | |
Share-based Payment Arrangement [Abstract] | |
Beginning Balance, Shares | shares | 29,958 |
Weighted Average Exercise Price, Beginning Balance | $ / shares | $ 8.79 |
Weighted Average Remaining Contractual Term, Beginning Balance | 3 years 4 months 24 days |
Aggregate Intrinsic Value, Beginning Balance | $ | $ 131 |
Granted, Shares | shares | |
Weighted Average Exercise Price, Granted | $ / shares | |
Exercised, Shares | shares | (2,176) |
Weighted Average Exercise Price, Exercised | $ / shares | $ 7.07 |
Expired, forfeited or cancelled, Shares | shares | |
Weighted Average Exercise Price, Expired, forfeited or cancelled | $ / shares | |
Ending Balance, Shares | shares | 27,782 |
Weighted Average Exercise Price, Ending Balance | $ / shares | $ 8.93 |
Weighted Average Remaining Contractual Term, Ending Balance | 3 years 3 months 18 days |
Aggregate Intrinsic Value, Ending Balance | $ | $ 205 |
Vested, Shares | shares | 27,782 |
Weighted Average Exercise Price, Vested | $ / shares | $ 8.93 |
Weighted Average Remaining Contractual Term, Vested | 3 years 3 months 18 days |
Aggregate Intrinsic Value, Vested | $ | $ 205 |
Non-vested, Shares | shares | |
Weighted Average Exercise Price, Non-Vested | $ / shares | |
Aggregate Intrinsic Value, Non-Vested | $ | $ 0 |
STOCK-BASED COMPENSATION (Det_2
STOCK-BASED COMPENSATION (Details 2) - Restricted Stock [Member] - $ / shares | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Non-Vested Shares, Beginning Value | 58,499 | |
Non-Vested Weighted Average Award Date Fair Value, Ending Balance | $ 13.03 | |
Non-Vested Shares, Awarded | 22,761 | 19,497 |
Non-Vested Weighted Average Award Date Fair Value, Awarded | $ 15.25 | |
Vested Shares | 15,501 | |
Non-Vested Weighted Average Award Date Fair Value, Vested | $ 14.61 | |
Non-Vested Shares, Expired, forfeited or cancelled | ||
Non-Vested Weighted Average Award Date Fair Value, Expired, forfeited or cancelled | $ 0 | |
Non-Vested Shares, Ending Value | 65,759 | |
Non-Vested Weighted Average Award Date Fair Value, Ending Balance | $ 13.43 |
STOCK-BASED COMPENSATION (Det_3
STOCK-BASED COMPENSATION (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock options outstanding | 27,782 | 29,958 | |
Share Based Compensation | $ 90 | $ 98 | |
Recognized Tax Benefit for Equity Compensation Expense | 27 | $ 26 | |
Total Unrecognized Pre-Tax Compensation Cost Related to Restricted Stock Awards | 705 | ||
Intrinsic Value, Non-Vested Stock | $ 0 | ||
Intrinsic Value per Stock Option and Restricted Stock Awards | $ 16.31 | ||
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Period of Recognization | 4 years 3 months | ||
Weighted Average Period for Recoginzation of Cost | 1 year 3 months 18 days | ||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted | 22,761 | 19,497 | |
Intrinsic Value, Non-Vested Stock | $ 1,073 | ||
Two Thousand And Twenty Equity Incentive Plan [Member] | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock options outstanding | 42,395 | ||
2010 Equity Incentive Plan [Member] | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock options outstanding | 23,364 | ||
2010 Equity Incentive Plan [Member] | Equity Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock options outstanding | 27,782 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Loan Purchase Commitments [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Commitments | $ 43,649 | $ 32,851 |
Standby Letters of Credit [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Commitments | $ 60 |
EARNINGS PER SHARE COMPUTATION
EARNINGS PER SHARE COMPUTATION (Details Narrative) - shares | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Earnings Per Share [Abstract] | ||
Weighted Average Common Shares Outstanding | 5,886,297 | 5,858,919 |
Dilutive Shares | 35,661 | 24,657 |
Anti-Dilutive Stock exculded from Earning Per Share | 0 | 0 |
INVESTMENT SECURITIES (Details)
INVESTMENT SECURITIES (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Net Investment Income [Line Items] | ||
Amortized cost | $ 296,495 | $ 298,227 |
Gross unrealized gains | 6,931 | 9,572 |
Gross unrealized losses | (1,798) | (833) |
Estimated fair value | 301,628 | 306,966 |
US Government Agencies Debt Securities [Member] | ||
Net Investment Income [Line Items] | ||
Amortized cost | 261,826 | 276,191 |
Gross unrealized gains | 6,326 | 8,474 |
Gross unrealized losses | (1,665) | (832) |
Estimated fair value | 266,487 | 283,833 |
US States and Political Subdivisions Debt Securities [Member] | ||
Net Investment Income [Line Items] | ||
Amortized cost | 16,257 | 15,288 |
Gross unrealized gains | 495 | 1,013 |
Gross unrealized losses | (29) | |
Estimated fair value | 16,723 | 16,301 |
US Treasury Securities [Member] | ||
Net Investment Income [Line Items] | ||
Amortized cost | 11,663 | |
Gross unrealized gains | ||
Gross unrealized losses | (99) | |
Estimated fair value | 11,564 | |
Corporate Debt Securities [Member] | ||
Net Investment Income [Line Items] | ||
Amortized cost | 6,749 | 6,748 |
Gross unrealized gains | 110 | 85 |
Gross unrealized losses | (5) | (1) |
Estimated fair value | $ 6,854 | $ 6,832 |
INVESTMENT SECURITIES (Details
INVESTMENT SECURITIES (Details 2) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Net Investment Income [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | $ 10 | |
Debt Securities, Held-to-maturity, Fair Value | 11 | $ 13 |
US Government Agencies Debt Securities [Member] | ||
Net Investment Income [Line Items] | ||
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 10 | 12 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Gain | 1 | 1 |
Debt Securities, Held-to-maturity, Accumulated Unrecognized Loss | ||
Debt Securities, Held-to-maturity, Fair Value | $ 11 | $ 13 |
INVESTMENT SECURITIES (Detail_2
INVESTMENT SECURITIES (Details 3) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Net Investment Income [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | $ 96,256 | $ 59,635 |
Less than 12 Months, Unrealized Losses | (1,440) | (404) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 21,350 | 31,138 |
Greater than 12 Months, Unrealized Losses | (358) | (429) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 117,606 | 90,773 |
Total, Unrealized Losses | (1,798) | (833) |
US Government Agencies Debt Securities [Member] | ||
Net Investment Income [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 81,619 | 58,886 |
Less than 12 Months, Unrealized Losses | (1,307) | (403) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 21,350 | 31,138 |
Greater than 12 Months, Unrealized Losses | (358) | (429) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 102,969 | 90,024 |
Total, Unrealized Losses | (1,665) | (832) |
US States and Political Subdivisions Debt Securities [Member] | ||
Net Investment Income [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 2,328 | |
Less than 12 Months, Unrealized Losses | (29) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | ||
Greater than 12 Months, Unrealized Losses | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 2,328 | |
Total, Unrealized Losses | (29) | |
US Treasury Securities [Member] | ||
Net Investment Income [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 11,564 | |
Less than 12 Months, Unrealized Losses | (99) | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 11,564 | |
Total, Unrealized Losses | (99) | |
Corporate Debt Securities [Member] | ||
Net Investment Income [Line Items] | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than Twelve Months, Fair Value | 745 | 749 |
Less than 12 Months, Unrealized Losses | (5) | (1) |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | ||
Greater than 12 Months, Unrealized Losses | ||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 745 | 749 |
Total, Unrealized Losses | $ (5) | $ (1) |
INVESTMENT SECURITIES (Detail_3
INVESTMENT SECURITIES (Details 4) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Marketable Securities [Line Items] | ||
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | $ 2,279 | |
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | 2,292 | |
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 360 | |
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 361 | |
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 28,523 | |
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 28,956 | |
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 10 | 3,507 | |
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 3,532 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 34,669 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value | 35,141 | |
Available-for-sale Securities, Amortized Cost Basis | 296,495 | |
Available-for-sale Securities | 301,628 | $ 306,966 |
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 10 | |
Debt Securities, Held-to-maturity, Fair Value | 11 | $ 13 |
US Government Agencies Debt Securities [Member] | ||
Marketable Securities [Line Items] | ||
Available-for-sale Securities, Amortized Cost Basis | 261,826 | |
Available-for-sale Securities | 266,487 | |
Debt Securities, Held-to-Maturity, Amortized Cost, before Allowance for Credit Loss | 10 | |
Debt Securities, Held-to-maturity, Fair Value | $ 11 |
INVESTMENT SECURITIES (Detail_4
INVESTMENT SECURITIES (Details Narrative) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021USD ($)Number | Mar. 31, 2020USD ($) | Dec. 31, 2020USD ($)Number | |
Marketable Securities [Line Items] | |||
Gross Realized Gains | $ | $ 11,048 | $ 4,229 | $ 4,229 |
Gain (Loss) on Sale of Investments | $ | $ 172 | $ 38 | $ 38 |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 218 | 204 | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 40 | 29 | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Greater than or Equal to One Year | 16 | 21 | |
Corporate Debt Securities [Member] | |||
Marketable Securities [Line Items] | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 50 | ||
Corporate Debt Securities [Member] | |||
Marketable Securities [Line Items] | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Less than One Year | 16 |
IMPAIRED AND NONPERFORMING LO_3
IMPAIRED AND NONPERFORMING LOANS AND OTHER REAL ESTATE OWNED (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | $ 477,516 | $ 480,278 |
Nonperforming loans to total loans | 0.00% | 0.00% |
Total nonperforming assets to total assets | 0.09% | 0.09% |
Nonperforming Financial Instruments [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | $ 800 | $ 800 |
Nonperforming Financial Instruments [Member] | Real Estate, Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 800 | 800 |
Nonperforming Financial Instruments [Member] | Other Assets [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross |
IMPAIRED AND NONPERFORMING LO_4
IMPAIRED AND NONPERFORMING LOANS AND OTHER REAL ESTATE OWNED (Details 2) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment, No Related Allowance | $ 5,357 | $ 5,387 |
Unpaid Principal Balance, No Related Allowance | 5,578 | 5,608 |
Recorded Investment, With Related Allowance | 1,632 | 1,663 |
Unpaid Principal Balance, With Related Allowance | 1,692 | 1,723 |
Related Allowance | 109 | 112 |
Impaired Financing Receivable, Recorded Investment | 6,989 | 7,050 |
Impaired Financing Receivable, Unpaid Principal Balance | 7,270 | 7,331 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment, No Related Allowance | 5,046 | 5,075 |
Unpaid Principal Balance, No Related Allowance | 5,180 | 5,209 |
Recorded Investment, With Related Allowance | 1,512 | 1,539 |
Unpaid Principal Balance, With Related Allowance | 1,572 | 1,599 |
Related Allowance | 100 | 106 |
Impaired Financing Receivable, Recorded Investment | 6,558 | 6,614 |
Impaired Financing Receivable, Unpaid Principal Balance | 6,752 | 5,808 |
Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Recorded Investment, No Related Allowance | 311 | 312 |
Unpaid Principal Balance, No Related Allowance | 398 | 399 |
Recorded Investment, With Related Allowance | 120 | 124 |
Unpaid Principal Balance, With Related Allowance | 120 | 124 |
Related Allowance | 9 | 6 |
Impaired Financing Receivable, Recorded Investment | 431 | 436 |
Impaired Financing Receivable, Unpaid Principal Balance | $ 518 | $ 523 |
IMPAIRED AND NONPERFORMING LO_5
IMPAIRED AND NONPERFORMING LOANS AND OTHER REAL ESTATE OWNED (Details 3) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment | $ 7,019 | $ 7,574 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment | 6,586 | 7,125 |
Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Average Recorded Investment | $ 433 | $ 449 |
IMPAIRED AND NONPERFORMING LO_6
IMPAIRED AND NONPERFORMING LOANS AND OTHER REAL ESTATE OWNED (Details 4) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Financing Receivable, Impaired [Line Items] | ||
Interest Income Recognized | $ 106 | $ 113 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Interest Income Recognized | 99 | 106 |
Residential Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Interest Income Recognized | $ 7 | $ 7 |
ALLOWANCE FOR LOAN LOSSES (Deta
ALLOWANCE FOR LOAN LOSSES (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | $ 477,516 | $ 480,278 |
Pass [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 449,367 | 453,611 |
Watch [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 25,514 | 25,349 |
Special Mention [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 1,437 | 118 |
Substandard [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 1,198 | 1,200 |
Doubtful [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | ||
Commercial Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 93,982 | 94,522 |
Commercial Loan [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 251,348 | |
Commercial Loan [Member] | Pass [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 87,216 | 90,021 |
Commercial Loan [Member] | Watch [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 6,766 | 4,501 |
Commercial Loan [Member] | Special Mention [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | ||
Commercial Loan [Member] | Substandard [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | ||
Commercial Loan [Member] | Doubtful [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | ||
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 93,982 | |
Commercial Real Estate [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 248,660 | 251,348 |
Commercial Real Estate [Member] | Pass [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 227,925 | 229,887 |
Commercial Real Estate [Member] | Watch [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 18,100 | 20,143 |
Commercial Real Estate [Member] | Special Mention [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 1,437 | 118 |
Commercial Real Estate [Member] | Substandard [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 1,198 | 1,200 |
Commercial Real Estate [Member] | Doubtful [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | ||
Multifamily [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 45,254 | 48,760 |
Multifamily [Member] | Pass [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 45,254 | 48,760 |
Multifamily [Member] | Watch [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | ||
Multifamily [Member] | Special Mention [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | ||
Multifamily [Member] | Substandard [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | ||
Multifamily [Member] | Doubtful [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | ||
Construction Loans [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 25,242 | 18,424 |
Construction Loans [Member] | Pass [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 25,242 | 18,424 |
Construction Loans [Member] | Watch [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | ||
Construction Loans [Member] | Special Mention [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | ||
Construction Loans [Member] | Substandard [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | ||
Construction Loans [Member] | Doubtful [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | ||
Residential Real Estate [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 31,749 | 32,329 |
Residential Real Estate [Member] | Pass [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 31,234 | 31,760 |
Residential Real Estate [Member] | Watch [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 515 | 569 |
Residential Real Estate [Member] | Special Mention [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | ||
Residential Real Estate [Member] | Substandard [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | ||
Residential Real Estate [Member] | Doubtful [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | ||
Agriculture [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 6,034 | 6,091 |
Agriculture [Member] | Pass [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 6,034 | 6,091 |
Agriculture [Member] | Watch [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | ||
Agriculture [Member] | Special Mention [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | ||
Agriculture [Member] | Substandard [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | ||
Agriculture [Member] | Doubtful [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | ||
Consumer Loan [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 26,595 | 28,804 |
Consumer Loan [Member] | Pass [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 26,462 | 28,668 |
Consumer Loan [Member] | Watch [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 136 | |
Consumer Loan [Member] | Special Mention [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | $ 133 | |
Consumer Loan [Member] | Substandard [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | ||
Consumer Loan [Member] | Doubtful [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross |
ALLOWANCE FOR LOAN LOSSES (De_2
ALLOWANCE FOR LOAN LOSSES (Details 2) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Financing Receivable, Impaired [Line Items] | |||
Beginning balance, January 1, 2020 | $ 6,628 | $ 5,138 | |
Provision for loan losses | 495 | ||
Loans charged-off | (9) | ||
Recoveries | 77 | 4 | |
Ending balance, March 31, 2020 | 6,696 | 5,637 | |
Individually evaluated for impairment | 109 | $ 112 | |
Collectively evaluated for impairment | 6,587 | 6,516 | |
Ending balance | 477,516 | 480,278 | |
Individually evaluated for impairment | 6,989 | 7,050 | |
Collectively evaluated for impairment | 470,527 | 473,228 | |
Ending balance | 6,628 | ||
Commercial Loan [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Beginning balance, January 1, 2020 | 922 | 950 | |
Provision for loan losses | (149) | 63 | |
Loans charged-off | |||
Recoveries | 76 | 1 | |
Ending balance, March 31, 2020 | 849 | 1,014 | |
Individually evaluated for impairment | |||
Collectively evaluated for impairment | 922 | ||
Ending balance | 93,982 | 94,522 | |
Individually evaluated for impairment | |||
Collectively evaluated for impairment | 94,522 | ||
Ending balance | 922 | ||
Commercial Loan [Member] | Real Estate Loan [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Individually evaluated for impairment | 106 | ||
Collectively evaluated for impairment | 3,360 | ||
Ending balance | 251,348 | ||
Individually evaluated for impairment | 6,614 | ||
Collectively evaluated for impairment | 244,734 | ||
Ending balance | 3,466 | ||
Commercial Real Estate [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Individually evaluated for impairment | |||
Collectively evaluated for impairment | 849 | ||
Ending balance | 93,982 | ||
Individually evaluated for impairment | |||
Collectively evaluated for impairment | 93,982 | ||
Commercial Real Estate [Member] | Real Estate Loan [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Beginning balance, January 1, 2020 | 3,466 | 1,906 | |
Provision for loan losses | (61) | 349 | |
Loans charged-off | |||
Recoveries | 1 | 3 | |
Ending balance, March 31, 2020 | 3,406 | 2,258 | |
Individually evaluated for impairment | 100 | ||
Collectively evaluated for impairment | 3,306 | ||
Ending balance | 248,660 | 251,348 | |
Individually evaluated for impairment | 6,558 | ||
Collectively evaluated for impairment | 242,102 | ||
Multifamily [Member] | Real Estate Loan [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Beginning balance, January 1, 2020 | 411 | 329 | |
Provision for loan losses | (34) | 64 | |
Loans charged-off | |||
Recoveries | |||
Ending balance, March 31, 2020 | 377 | 393 | |
Individually evaluated for impairment | |||
Collectively evaluated for impairment | 377 | 411 | |
Ending balance | 45,254 | 48,760 | |
Individually evaluated for impairment | |||
Collectively evaluated for impairment | 45,254 | 48,760 | |
Ending balance | 411 | ||
Construction Loans [Member] | Real Estate Loan [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Beginning balance, January 1, 2020 | 687 | 986 | |
Provision for loan losses | 236 | (98) | |
Loans charged-off | |||
Recoveries | |||
Ending balance, March 31, 2020 | 923 | 888 | |
Individually evaluated for impairment | |||
Collectively evaluated for impairment | 923 | 687 | |
Ending balance | 25,242 | 18,424 | |
Individually evaluated for impairment | |||
Collectively evaluated for impairment | 25,242 | 18,424 | |
Ending balance | 687 | ||
Residential Real Estate [Member] | Real Estate Loan [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Beginning balance, January 1, 2020 | 388 | 281 | |
Provision for loan losses | (1) | 56 | |
Loans charged-off | |||
Recoveries | |||
Ending balance, March 31, 2020 | 387 | 337 | |
Individually evaluated for impairment | 9 | 6 | |
Collectively evaluated for impairment | 378 | 382 | |
Ending balance | 31,749 | 32,329 | |
Individually evaluated for impairment | 431 | 436 | |
Collectively evaluated for impairment | 31,318 | 31,893 | |
Ending balance | 388 | ||
Agriculture [Member] | Other Credit Exposure Loan [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Beginning balance, January 1, 2020 | 85 | 107 | |
Provision for loan losses | (4) | ||
Loans charged-off | |||
Recoveries | |||
Ending balance, March 31, 2020 | 85 | 103 | |
Individually evaluated for impairment | |||
Collectively evaluated for impairment | 85 | 85 | |
Ending balance | 6,034 | 6,091 | |
Individually evaluated for impairment | |||
Collectively evaluated for impairment | 6,034 | 6,091 | |
Ending balance | 85 | ||
Consumer Loan [Member] | Other Credit Exposure Loan [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Beginning balance, January 1, 2020 | 391 | 334 | |
Provision for loan losses | (19) | 58 | |
Loans charged-off | (9) | ||
Recoveries | |||
Ending balance, March 31, 2020 | 363 | 392 | |
Individually evaluated for impairment | |||
Collectively evaluated for impairment | 363 | 391 | |
Ending balance | 26,595 | 28,804 | |
Individually evaluated for impairment | |||
Collectively evaluated for impairment | 26,595 | 28,804 | |
Ending balance | 391 | ||
Unallocated Financing Receivables [Member] | |||
Financing Receivable, Impaired [Line Items] | |||
Beginning balance, January 1, 2020 | 278 | 245 | |
Provision for loan losses | 28 | 7 | |
Loans charged-off | |||
Recoveries | |||
Ending balance, March 31, 2020 | 306 | $ 252 | |
Individually evaluated for impairment | |||
Collectively evaluated for impairment | 306 | 278 | |
Ending balance | |||
Individually evaluated for impairment | |||
Collectively evaluated for impairment | |||
Ending balance | $ 278 |
ALLOWANCE FOR LOAN LOSSES (De_3
ALLOWANCE FOR LOAN LOSSES (Details 3) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | $ 477,516 | $ 480,278 |
Financing Receivable, 90 Days or More Past Due, Still Accruing | ||
Financing Receivable, Nonaccrual | ||
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Financial Asset, Past Due [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Financial Asset, Past Due [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Financial Asset, Not Past Due [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 477,516 | |
Financial Asset, Not Past Due [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 480,278 | |
Commercial Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 93,982 | 94,522 |
Financing Receivable, 90 Days or More Past Due, Still Accruing | ||
Financing Receivable, Nonaccrual | ||
Commercial Loan [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 251,348 | |
Commercial Loan [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Commercial Loan [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Commercial Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Commercial Loan [Member] | Financial Asset, Past Due [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Commercial Loan [Member] | Financial Asset, Not Past Due [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 93,982 | 94,522 |
Commercial Real Estate [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 93,982 | |
Commercial Real Estate [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 248,660 | 251,348 |
Financing Receivable, 90 Days or More Past Due, Still Accruing | ||
Financing Receivable, Nonaccrual | ||
Commercial Real Estate [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Commercial Real Estate [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Commercial Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Commercial Real Estate [Member] | Financial Asset, Past Due [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Commercial Real Estate [Member] | Financial Asset, Not Past Due [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 248,660 | 251,348 |
Multifamily [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 45,254 | 48,760 |
Financing Receivable, 90 Days or More Past Due, Still Accruing | ||
Financing Receivable, Nonaccrual | ||
Multifamily [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Multifamily [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Multifamily [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Multifamily [Member] | Financial Asset, Past Due [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Multifamily [Member] | Financial Asset, Not Past Due [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 45,254 | 48,760 |
Construction Loans [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 25,242 | 18,424 |
Financing Receivable, 90 Days or More Past Due, Still Accruing | ||
Financing Receivable, Nonaccrual | ||
Construction Loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Construction Loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Construction Loans [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Construction Loans [Member] | Financial Asset, Past Due [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Construction Loans [Member] | Financial Asset, Not Past Due [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 25,242 | 18,424 |
Residential Real Estate [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 31,749 | 32,329 |
Financing Receivable, 90 Days or More Past Due, Still Accruing | ||
Financing Receivable, Nonaccrual | ||
Residential Real Estate [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Residential Real Estate [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Residential Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Residential Real Estate [Member] | Financial Asset, Past Due [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Residential Real Estate [Member] | Financial Asset, Not Past Due [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 31,749 | 32,329 |
Agriculture [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 6,034 | 6,091 |
Financing Receivable, 90 Days or More Past Due, Still Accruing | ||
Financing Receivable, Nonaccrual | ||
Agriculture [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Agriculture [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Agriculture [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Agriculture [Member] | Financial Asset, Past Due [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Agriculture [Member] | Financial Asset, Not Past Due [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | 6,034 | 6,091 |
Consumer Loan [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 26,595 | 28,804 |
Financing Receivable, 90 Days or More Past Due, Still Accruing | ||
Financing Receivable, Nonaccrual | ||
Consumer Loan [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Consumer Loan [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Consumer Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Consumer Loan [Member] | Financial Asset, Past Due [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | ||
Consumer Loan [Member] | Financial Asset, Not Past Due [Member] | Other Credit Exposure Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Financing Receivable, before Allowance for Credit Loss | $ 26,595 | $ 28,804 |
ALLOWANCE FOR LOAN LOSSES (De_4
ALLOWANCE FOR LOAN LOSSES (Details Narrative) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | $ 477,516 | $ 480,278 |
Commercial Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | 93,982 | 94,522 |
Commercial Loan [Member] | Entity Loan Modification Program [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Loans and Leases Receivable, Gross | $ 57,486 | $ 55,546 |
LEASES (Details)
LEASES (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | ||
Leases [Abstract] | ||||
Operating lease asset classified as other assets | $ 2,551 | $ 2,717 | ||
Operating lease liability classified as other liabilities | 2,730 | 2,392 | ||
Operating lease cost classified as occupancy and equipment expense | $ 194 | $ 190 | ||
Weighted average lease term, in years | 5 years 10 months 13 days | 5 years 5 months 19 days | ||
Weighted average discount rate | [1] | 2.98% | 2.98% | |
Operating cash flows | $ 190 | $ 194 | ||
[1] | The discount rate was developed by using the fixed rate credit advance borrowing rate at the Federal Home Loan Bank of San Francisco for a term correlating to the remaining life of each lease. |
LEASES (Details 2)
LEASES (Details 2) - USD ($) $ in Thousands | Mar. 31, 2021 | Mar. 31, 2020 |
Leases [Abstract] | ||
April 1, 2021 to December 31, 2021 | $ 583 | |
January 1, 2021 to December 31, 2022 | 753 | |
January 1, 2022 to December 31, 2023 | 329 | |
January 1, 2023 to December 31, 2024 | 322 | |
January 1, 2024 to December 31, 2025 | 232 | |
Thereafter | 753 | |
Total lease payments | 2,972 | |
Less: Interest | (242) | |
Present value of lease liabilities | $ 2,730 | $ 2,392 |
BORROWING ARRANGEMENTS (Details
BORROWING ARRANGEMENTS (Details Narrative) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Short-term Borrowing | $ 17,000 | $ 17,000 |
FHLB Advances | $ 20,787 | 20,787 |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Due Date, Earliest | 2021 | |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Due Date, Last | 2025 | |
Remaining Borrowing Capacity, FHLB | $ 152,049 | 132,409 |
Short-term Borrowing by Pledging Loans and Secutities | $ 6,021 | $ 6,209 |
Minimum [Member] | ||
Debt Instrument [Line Items] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 0.00% | |
Maximum [Member] | ||
Debt Instrument [Line Items] | ||
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Interest Rate | 2.43% |
FAIR VALUE MEASUREMENTS (Detail
FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financial assets: | ||
Cash and due from banks | $ 18,927 | $ 14,030 |
Interest-bearing deposits in banks | 78,871 | 28,479 |
Available-for-sale Securities | 301,628 | 306,966 |
Held-to-maturity securities | 11 | 13 |
Deposits: | ||
Noninterest-bearing | 339,714 | 330,095 |
Fair Value, Inputs, Level 1 [Member] | ||
Financial assets: | ||
Cash and due from banks | 18,927 | 14,030 |
Interest-bearing deposits in banks | 78,871 | 26,733 |
Available-for-sale Securities | ||
Held-to-maturity securities | ||
Net loans: | ||
Accrued interest receivable | ||
Deposits: | ||
Noninterest-bearing | 339,714 | 330,095 |
Savings | 93,622 | 87,315 |
Money market | 186,086 | 175,541 |
Interest checking | 94,126 | 82,045 |
Time Deposits | ||
Short-term borrowings | 7,000 | 7,000 |
Long-term borrowings | ||
Accrued interest payable | 9 | 3 |
Fair Value, Inputs, Level 2 [Member] | ||
Financial assets: | ||
Cash and due from banks | ||
Interest-bearing deposits in banks | 1,746 | |
Available-for-sale Securities | 301,628 | 306,966 |
Held-to-maturity securities | 11 | 13 |
Net loans: | ||
Accrued interest receivable | 1,502 | 1,428 |
Deposits: | ||
Noninterest-bearing | ||
Savings | ||
Money market | ||
Interest checking | ||
Time Deposits | 75,347 | 69,511 |
Short-term borrowings | ||
Long-term borrowings | 13,945 | 13,967 |
Accrued interest payable | 28 | 39 |
Fair Value, Inputs, Level 3 [Member] | ||
Financial assets: | ||
Cash and due from banks | ||
Interest-bearing deposits in banks | ||
Available-for-sale Securities | ||
Held-to-maturity securities | ||
Net loans: | 479,432 | 474,400 |
Accrued interest receivable | 1,958 | 2,305 |
Deposits: | ||
Noninterest-bearing | ||
Savings | ||
Money market | ||
Interest checking | ||
Time Deposits | ||
Short-term borrowings | ||
Long-term borrowings | ||
Accrued interest payable | ||
Reported Value Measurement [Member] | ||
Financial assets: | ||
Cash and due from banks | 18,927 | 14,030 |
Interest-bearing deposits in banks | 78,871 | 28,479 |
Available-for-sale Securities | 301,628 | 306,966 |
Held-to-maturity securities | 10 | 12 |
Net loans: | 468,718 | 471,853 |
Accrued interest receivable | 3,460 | 3,733 |
Deposits: | ||
Noninterest-bearing | 339,714 | 330,095 |
Savings | 93,622 | 87,315 |
Money market | 186,086 | 175,541 |
Interest checking | 94,126 | 82,045 |
Time Deposits | 75,021 | 69,181 |
Short-term borrowings | 7,000 | 7,000 |
Long-term borrowings | 13,787 | 13,787 |
Accrued interest payable | 37 | 42 |
Estimate of Fair Value Measurement [Member] | ||
Financial assets: | ||
Cash and due from banks | 18,927 | 14,030 |
Interest-bearing deposits in banks | 78,871 | 28,479 |
Available-for-sale Securities | 301,628 | 306,966 |
Held-to-maturity securities | 11 | 13 |
Net loans: | 479,432 | 474,400 |
Accrued interest receivable | 3,460 | 3,733 |
Deposits: | ||
Noninterest-bearing | 339,714 | 330,095 |
Savings | 93,622 | 87,315 |
Money market | 186,086 | 175,541 |
Interest checking | 94,126 | 82,045 |
Time Deposits | 75,347 | 69,511 |
Short-term borrowings | 7,000 | 7,000 |
Long-term borrowings | 13,945 | 13,967 |
Accrued interest payable | $ 37 | $ 42 |
FAIR VALUE MEASUREMENTS (Deta_2
FAIR VALUE MEASUREMENTS (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | $ 301,628 | $ 306,966 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 301,628 | 306,966 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
US Government Agencies Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 266,487 | |
Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 301,628 | 306,966 |
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss) | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 11,564 | |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 290,064 | 306,966 |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 266,487 | 283,833 |
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss) | ||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 266,487 | 283,833 |
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 16,723 | 16,301 |
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss) | ||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 16,723 | 16,301 |
Fair Value, Recurring [Member] | US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value, Recurring [Member] | US Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 11,564 | |
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss) | ||
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 11,564 | |
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value, Recurring [Member] | US Treasury Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 6,854 | 6,832 |
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss) | ||
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 6,854 | 6,832 |
Fair Value, Recurring [Member] | Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value, Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 800 | |
Total gain (losses) | (46) | |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 800 | |
Fair Value, Nonrecurring [Member] | Real Estate, Other [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | 800 | 800 |
Total gain (losses) | (46) | |
Fair Value, Nonrecurring [Member] | Real Estate, Other [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value, Nonrecurring [Member] | Real Estate, Other [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | ||
Fair Value, Nonrecurring [Member] | Real Estate, Other [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities | $ 800 | $ 800 |
NOVEL CORONAVIRUS PANDEMIC (__2
NOVEL CORONAVIRUS PANDEMIC (“COVID-19”) (Details Narrative) $ in Thousands | Mar. 31, 2021USD ($)Number | Dec. 31, 2020USD ($) | Jun. 30, 2020USD ($)Number |
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Loans and Leases Receivable, Gross | $ 477,516 | $ 480,278 | |
Commercial Loan [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Loans and Leases Receivable, Gross | $ 93,982 | 94,522 | |
Entity Loan Modification Program [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Number of funded Paycheck Protection Program | Number | 201 | 477 | |
Loan Funded in PPP | $ 25,465 | $ 80,154 | |
Entity Loan Modification Program [Member] | Commercial Loan [Member] | |||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||
Loans and Leases Receivable, Gross | $ 57,486 | $ 55,546 |