New Peoples Bankshares (NWPP) 10-Q 15 May 20 2020 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2020	Apr. 30, 2020
Cover [Abstract]
Entity Registrant Name	NEW PEOPLES BANKSHARES INC
Entity Central Index Key	0001163389
Document Type	10-Q
Entity File Number	000-33411
Document Period End Date	Mar. 31, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	VA
Entity Reporting Status Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		23,922,086
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2020

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
INTEREST AND DIVIDEND INCOME
Loans including fees	$ 7,098	$ 6,940
Federal funds sold	1	2
Interest-earning deposits with banks	162	243
Investments	297	368
Dividends on equity securities (restricted)	37	38
Total Interest and Dividend Income	7,595	7,591
INTEREST EXPENSE
Deposits	1,262	1,260
Borrowed funds	191	236
Total Interest Expense	1,453	1,496
NET INTEREST INCOME	6,142	6,095
PROVISION FOR LOAN LOSSES	1,000	135
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES	5,142	5,960
NONINTEREST INCOME
Service charges and fees	851	841
Card processing and interchange	753	679
Insurance and investment fees	132	161
Net gain on sales of available-for-sale securities	4
Other noninterest income	425	96
Total Noninterest Income	2,165	1,777
NONINTEREST EXPENSES
Salaries and employee benefits	3,501	3,646
Occupancy and equipment expense	1,113	1,149
Data processing and telecommunications	620	655
Other operating expenses	2,017	1,778
Total Noninterest Expenses	7,251	7,228
INCOME BEFORE INCOME TAXES	56	509
INCOME TAX EXPENSE	10	103
NET INCOME	$ 46	$ 406
Income Per Share
Basic and diluted (in dollars per share)	$ 0	$ 0.02
Average Weighted Shares of Common Stock
Basic and diluted (in shares)	23,922,086	23,922,086

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Consolidated Statements Of Comprehensive Income Loss
NET INCOME	$ 46	$ 406
Investment Securities Activity
Unrealized gains arising during the period	767	467
Reclassification adjustment for net gains included In net income	(4)
Other comprehensive gain on investment securities	763	467
Related tax expense	160	97
TOTAL OTHER COMPREHENSIVE INCOME	603	370
TOTAL COMPREHENSIVE INCOME	$ 649	$ 776

CONSOLIDATED BALANCE SHEETS (UN

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
ASSETS
Cash and due from banks	$ 15,616	$ 13,998
Interest-bearing deposits with banks	47,765	35,897
Federal funds sold	288	252
Total Cash and Cash Equivalents	63,669	50,147
Investment securities available-for-sale	47,741	50,649
Loans held for sale	489	2
Loans receivable	560,468	562,544
Allowance for loan losses	(6,337)	(5,368)
Net loans	554,131	557,176
Bank premises and equipment, net	22,801	22,242
Other real estate owned	3,070	3,393
Accrued interest receivable	2,045	2,115
Deferred taxes, net	4,406	4,576
Right-of-use assets - operating leases	5,737	5,835
Other assets	11,055	10,238
Total Assets	715,144	706,373
Deposits:
Noninterest bearing	177,406	170,782
Interest-bearing	452,119	450,695
Total Deposits	629,525	621,477
Borrowed funds	21,496	21,496
Lease liabilities - operating leases	5,737	5,835
Accrued interest payable	706	694
Accrued expenses and other liabilities	2,429	2,269
Total Liabilities	659,893	651,771
STOCKHOLDERS' EQUITY
Common stock - $2.00 par value; 50,000,000 shares authorized; 23,922,086 shares issued and outstanding at March 31, 2020 and December 31, 2019	47,844	47,844
Additional paid-in capital	14,570	14,570
Retained deficit	(7,823)	(7,869)
Accumulated other comprehensive income	660	57
Total Stockholders' Equity	55,251	54,602
Total Liabilities and Stockholders' Equity	$ 715,144	$ 706,373

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Mar. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 2	$ 2
Common stock, authorized	50,000,000	50,000,000
Common stock, issued	23,922,086	23,922,086
Common stock, outstanding	23,922,086	23,922,086

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in- Capital [Member]	Retained Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Balance at Dec. 31, 2018	$ 47,844	$ 14,570	$ (9,928)	$ (1,236)	$ 51,250
Balance,(in shares) at Dec. 31, 2018	23,922
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			406		406
Other comprehensive loss, net of tax				370	370
Balance at Mar. 31, 2019	$ 47,844	14,570	(9,522)	(866)	52,026
Balance,(in shares) at Mar. 31, 2019	23,922
Balance at Dec. 31, 2019	$ 47,844	14,570	(7,869)	57	$ 54,602
Balance,(in shares) at Dec. 31, 2019	23,922				23,922,086
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			46		$ 46
Other comprehensive loss, net of tax				603	603
Balance at Mar. 31, 2020	$ 47,844	$ 14,570	$ (7,823)	$ 660	$ 55,251
Balance,(in shares) at Mar. 31, 2020	23,922				23,922,086

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 46	$ 406
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	549	609
Provision for loan losses	1,000	135
Income on bank owned life insurance	(18)	(15)
Gain on sale of securities available-for-sale	(4)
Gain on sale of mortgage loans	(39)
Gain on sale of premises and equipment	(1)
Gain on sale of other real estate owned	(58)	(8)
Loans originated for sale	(2,702)
Proceeds from sales of loans originated for sale	2,254
Adjustment of carrying value of other real estate owned	87	113
Amortization/accretion of bond premiums/discounts	117	144
Deferred tax expense (benefit)	10	105
Net change in:
Accrued interest receivable	70	(173)
Other assets	(777)	(124)
Accrued interest payable	12	121
Accrued expenses and other liabilities	160	121
Net Cash Provided by Operating Activities	706	1,434
CASH FLOWS FROM INVESTING ACTIVITIES
Net decrease (increase) in loans	2,221	(6,391)
Purchase of securities available-for-sale		(790)
Proceeds from sale of investment securities available-for-sale	1,025
Proceeds from repayments and maturities of securities available-for-sale	2,533	2,519
Net purchase of equity securities (restricted)	(22)	(14)
Payments for the purchase of premises and equipment	(1,108)	(474)
Proceeds from sale of premises and equipment	1	1
Proceeds from insurance claims on other real estate owned		19
Proceeds from sales of other real estate owned	118	856
Net Cash Provided (Used) in Investing Activities	4,768	(4,274)
CASH FLOWS FROM FINANCING ACTIVITIES
Net change in short term borrowings		(3,630)
Net change in non-interest bearing deposits	6,624	13,246
Net change in interest bearing deposits	1,424	29,171
Net Cash Provided by Financing Activities	8,048	38,787
Net increase in cash and cash equivalents	13,522	35,947
Cash and Cash Equivalents, Beginning of the Period	50,147	28,173
Cash and Cash Equivalents, End of the Period	63,669	64,120
Supplemental Disclosure of Cash Paid During the Period for:
Interest	1,441	1,375
Taxes
Supplemental Disclosure of Non-cash Transactions:
Other real estate acquired in settlement of foreclosed loans	252
Loans made to finance sale of other real estate owned	428	94
Change in unrealized gains on securities available for sale	$ 763	$ 467

NATURE OF OPERATIONS

NATURE OF OPERATIONS	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NOTE 1 NATURE OF OPERATIONS Nature of Operations –

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES These consolidated financial statements conform to U. S. generally accepted accounting principles (GAAP) and to general industry practices. In the opinion of management, the accompanying consolidated financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to present fairly the Company’s financial position at March 31, 2020 and December 31, 2019, and the results of operations for the three month periods ended March 31, 2020 and 2019. The notes included herein should be read in conjunction with the notes to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. The results of operations for interim periods are not necessarily indicative of the results of operations that may be expected for a full year or any future period. The consolidated financial statements include New Peoples, the Bank, NPB Insurance Services, Inc., and NPB Web Services, Inc. (Hereinafter, collectively referred to as the Company, we, us or our). All significant intercompany balances and transactions have been eliminated. In accordance with Accounting Standards Codification (ASC) 942, Financial Services – Depository and Lending, NPB Capital Trust I and 2 are not included in the consolidated financial statements. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The determination of the adequacy of the allowance for loan losses and the determination of the deferred tax asset and related valuation allowance are based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions.

INCOME PER SHARE

INCOME PER SHARE	3 Months Ended
	Mar. 31, 2020
Income Per Share
INCOME PER SHARE	NOTE 3 INCOME PER SHARE Basic income per share computations are based on the weighted average number of shares outstanding during each period. Dilutive earnings per share reflect the additional common shares that would have been outstanding if dilutive potential common shares had been issued. Potential common shares that may be issued relate to outstanding common stock warrants and are determined by the Treasury Method. For the three-month periods ended March 31, 2020 and 2019, there were no potential common shares. Basic and diluted net income per common share calculations follows: (Dollars in Thousands, Except For the three months ended 2020 2019 Net income $ 46 $ 406 Weighted average shares outstanding 23,922,086 23,922,086 Weighted average dilutive shares outstanding 23,922,086 23,922,086 Basic and diluted income per share $ 0.00 $ 0.02

CAPITAL

CAPITAL	3 Months Ended
	Mar. 31, 2020
Banking Regulation, Total Capital [Abstract]
CAPITAL	NOTE 4 CAPITAL Capital Requirements and Ratios The Company meets eligibility criteria of a small bank holding company in accordance with the Federal Reserve’s Small Bank Holding Company Policy Statement issued in February, 2015 and, therefore, is not obligated to report consolidated regulatory capital. The Bank is subject to various capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and, possibly, additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the following table) of total and Tier 1 capital to risk-weighted assets, Tier 1 capital to average assets, and Common Equity Tier 1 capital to risk-weighted assets. As of March 31, 2020, the Bank meets all capital adequacy requirements to which it is subject. The Bank’s actual capital amounts and ratios are presented in the following table as of March 31, 2020 and December 31, 2019, respectively. Actual Minimum Capital Requirement Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions (Dollars are in thousands) Amount Ratio Amount Ratio Amount Ratio March 31, 2020: Total Capital to Risk Weighted Assets 72,977 15.06 % $ 38,770 8.0 % $ 48,463 10.0 % Tier 1 Capital to Risk Weighted Assets 66,916 13.81 % 29,078 6.0 % 38,770 8.0 % Tier 1 Capital to Average Assets 66,916 9.43 % 28,396 4.0 % 35,495 5.0 % Common Equity Tier 1 Capital to Risk Weighted Assets 66,916 13.81 % 21,808 4.5 % 31,501 6.5 % December 31, 2019: Total Capital to Risk Weighted Assets 72,109 14.83 % $ 38,910 8.0 % $ 48,637 10.0 % Tier 1 Capital to Risk Weighted Assets 66,741 13.72 % 29,182 6.0 % 38,910 8.0 % Tier 1 Capital to Average Assets 66,741 9.43 % 28,313 4.0 % 35,391 5.0 % Common Equity Tier 1 Capital to Risk Weighted Assets 66,741 13.72 % 21,887 4.5 % 31,614 6.5 % Accordingly, as of March 31, 2020 and December 31, 2019, the Bank was well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since such dates that management believes have changed the Bank’s category. The Bank is also subject to the rules implementing the Basel III capital framework and certain related provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. The final rules require the Bank to comply with the following minimum capital ratios: (i) a Common Equity Tier 1 capital to risk-weighted assets ratio of at least 4.5%, plus a 2.5% “capital conservation buffer” (effectively resulting in a minimum Common Equity Tier 1 capital to risk-weighted assets ratio of 7%), (ii) a ratio of Tier 1 capital to risk-weighted assets of at least 6.0%, plus the 2.5% capital conservation buffer (effectively resulting in a minimum Tier 1 capital ratio of 8.5%), (iii) a ratio of total capital to risk-weighted assets of at least 8.0%, plus the 2.5% capital conservation buffer (effectively resulting in a minimum total capital ratio of 10.5%), and (iv) a leverage ratio of 4%, calculated as the ratio of Tier 1 capital to average assets. The phase-in of the capital conservation buffer requirement began on January 1, 2016, at 0.625% of risk-weighted assets, increasing by the same amount each year until it was fully implemented at 2.5% on January 1, 2019. The capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a Common Equity Tier 1 capital to risk-weighted assets ratio above the minimum but below the conservation buffer face constraints on dividends, equity repurchases, and compensation based on the amount of the shortfall. All ratios shown in the table above exceed the minimum requirements. The Bank’s capital conservation buffer as of March 31, 2020 was 7.06%.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	3 Months Ended
	Mar. 31, 2020
Investment Securities Activity
INVESTMENT SECURITIES	NOTE 5 INVESTMENT SECURITIES The amortized cost and estimated fair value of available-for-sale (AFS) securities as March 31, 2020 and December 31, 2019 is as follows: Gross Gross Gross Amortized Unrealized Unrealized Unrealized Fair (Dollars are in thousands) Cost Gains Losses Value March 31, 2020 U.S. Government Agencies $ 14,659 $ 180 $ (67 ) $ 14,772 Taxable municipals 4,379 79 (2 ) 4,456 Corporate bonds 5,404 138 — 5,542 Mortgage backed securities 22,464 527 (20 ) 22,971 Total Securities AFS $ 46,906 $ 924 $ (89 ) $ 47,741 December 31, 2019 U.S. Government Agencies $ 15,703 $ 57 $ (127 ) $ 15,633 Taxable municipals 4,389 54 (1 ) 4,442 Corporate bonds 5,408 115 — 5,523 Mortgage backed securities 25,077 111 (137 ) 25,051 Total Securities AFS $ 50,577 $ 337 $ (265 ) $ 50,649 The following table details unrealized losses and related fair values in the AFS portfolio. This information is aggregated by the length of time that individual securities have been in a continuous unrealized loss position as of March 31, 2020 and December 31, 2019. Less than 12 Months 12 Months or More Total (Dollars are in thousands) Fair Value Unrealized Fair Unrealized Fair Unrealized March 31, 2020 U.S. Government Agencies $ 233 $ (1 ) $ 4,412 $ (66 ) $ 4,645 $ (67 ) Taxable municipals 255 (2 ) — — 255 (2 ) Mortgage backed securities 503 (2 ) 1,515 (18 ) 2,018 (20 ) Total Securities AFS $ 991 $ (5 ) $ 5,927 $ (84 ) $ 6,918 $ (89 ) December 31, 2019 U.S. Government Agencies $ 6,788 $ (46 ) $ 4,516 $ (81 ) $ 11,304 $ (127 ) Taxable municipals 1,049 (1 ) — — 1,049 (1 ) Mortgage backed securities 1,586 (4 ) 12,002 (133 ) 13,588 (137 ) Total Securities AFS $ 9,423 $ (51 ) $ 16,518 $ (214 ) $ 25,941 $ (265 ) At March 31, 2020, there were 32 securities in a loss position, of which 27 have been in a loss position for twelve months or more. Management believes that all unrealized losses have resulted from temporary changes in the interest rates and current market conditions and not as a result of credit deterioration. Management does not intend to sell, and it is not likely that the Bank will be required to sell any of the securities referenced in the table above before recovery of their amortized cost. Investment securities with a carrying value of $7.6 million and $6.9 million at March 31, 2020 and December 31, 2019, respectively, were pledged as collateral to secure public deposits and for other purposes required by law. The following table summarizes sales of AFS debt securities for the three months-ended March 31, (Dollars are in thousands) 2020 2019 Proceeds $ 1,025 $ — Gains 7 — Losses (3 ) — Tax benefit (1 ) — The amortized cost and fair value of investment securities at March 31, 2020, by contractual maturity, are shown in the following schedule. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Weighted (Dollars are in thousands) Amortized Fair Average Securities Available-for-Sale Cost Value Yield Due in one year or less $ 253 $ 255 2.85% Due after one year through five years 4,462 4,580 2.67% Due after five years through ten years 12,038 12,256 3.44% Due after ten years 30,153 30,650 2.32% Total $ 46,906 $ 47,741 2.64% The Bank, as a member of the Federal Reserve Bank of Richmond (the Reserve Bank) and the Federal Home Loan Bank (the FHLB) of Atlanta, is required to hold stock in each. The Bank also owns stock in CBB Financial Corp., which is a correspondent of the Bank. These equity securities are restricted from trading and are recorded at a cost of $2.58 million and $2.56 million at March 30, 2020 and December 31, 2019, respectively.

LOANS

LOANS	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
LOANS	NOTE 6 LOANS Loans held for sale of $489 thousand and $2 thousand, at March 31, 2020 and December 31, 2019, respectively, represents mortgage loans originated for sale. These originations and sales are executed on a best efforts basis. Loans receivable outstanding as of March 31, 2020 and December 31, 2019 are summarized as follows: (Dollars are in thousands) March 31, December 31, 2019 Real estate secured: Commercial $ 171,658 $ 170,436 Construction and land development 30,841 31,130 Residential 1-4 family 240,328 242,922 Multifamily 14,039 13,638 Farmland 20,363 20,790 Total real estate loans 477,229 478,916 Commercial 53,590 53,994 Agriculture 5,241 4,797 Consumer installment loans 22,592 23,127 All other loans 1,816 1,710 Total loans $ 560,468 $ 562,544 Loans receivable on nonaccrual status as of March 31, 2020 and December 31, 209 are summarized as follows: (Dollars are in thousands) March 31, December 31, 2019 Real estate secured: Commercial $ 2,734 $ 1,601 Construction and land development 69 45 Residential 1-4 family 3,239 2,544 Farmland 353 531 Total real estate loans 6,395 4,721 Commercial 424 390 Consumer installment loans and other loans 55 45 Total loans receivable on nonaccrual status $ 6,874 $ 5,156 Total interest income not recognized on nonaccrual loans for the three months ended March 31, 2020 and March 31, 2019 was $189 thousand and $133 thousand, respectively. The following table presents information concerning the Company’s investment in loans considered impaired as of March 31, 2020 and December 31, 2019: As of March 31, 2020 (Dollars are in thousands) Average Interest Recorded Unpaid Principal Balance Related With no related allowance recorded: Real estate secured: Commercial $ 2,335 $ 9 $ 2,253 $ 2,328 $ — Construction and land development 67 4 63 337 — Residential 1-4 family 1,304 13 1,345 1,444 — Multifamily — — — — — Farmland 761 10 744 940 — Commercial 115 1 101 111 — Agriculture — — — — — Consumer installment loans — — — — — All other loans — — — — — With an allowance recorded: Real estate secured: Commercial 433 — 503 525 210 Construction and land development — — — — — Residential 1-4 family 54 — 53 60 39 Multifamily — — — — — Farmland 216 2 215 226 8 Commercial 286 — 286 886 200 Agriculture — — — — — Consumer installment loans — — — — — All other loans — — — — — Total $ 5,571 $ 39 $ 5,563 $ 6,857 $ 457 As of December 31, 2019 (Dollars are in thousands) Average Interest Recorded Unpaid Principal Balance Related With no related allowance recorded: Real estate secured: Commercial $ 2,017 $ 100 $ 2,416 $ 2,478 $ — Construction and land development 91 7 70 346 — Residential 1-4 family 1,944 55 1,263 1,460 — Multifamily 29 1 — — — Farmland 1,143 47 778 970 — Commercial 578 11 128 178 — Agriculture — — — 1 — Consumer installment loans 2 — — — — All other loans — — — — — With an allowance recorded: Real estate secured: Commercial 470 1 363 379 70 Construction and land development — — — — — Residential 1-4 family 302 — 55 60 44 Multifamily — — — — — Farmland 221 11 216 228 9 Commercial 507 7 286 886 200 Agriculture — — — — — Consumer installment loans 3 — — — — All other loans — — — — — Total $ 7,307 $ 240 $ 5,575 $ 6,986 $ 323 An age analysis of past due loans receivable as of March 31, 2020 and December 31, 2019 is below. At March 31, 2020 and December 31, 2019, there were no loans over 90 days past due that were accruing. As of March 31, 2020 (Dollars are in thousands) Loans Loans Loans Total Current Total Real estate secured: Commercial $ 516 $ 887 $ 188 $ 1,591 $ 170,067 $ 171,658 Construction and land 13 50 — 63 30,778 30,841 Residential 1-4 family 3,609 777 1,139 5,525 234,803 240,328 Multifamily 260 — — 260 13,779 14,039 Farmland 672 800 47 1,519 18,844 20,363 Total real estate loans 5,070 2,514 1,374 8,958 468,271 477,229 Commercial 407 60 286 753 52,837 53,590 Agriculture 111 — 22 133 5,108 5,241 Consumer installment 146 14 13 173 22,419 22,592 All other loans — — — — 1,816 1,816 Total loans $ 5,734 $ 2,588 $ 1,695 $ 10,017 $ 550,451 $ 560,468 As of December 31, 2019 (Dollars are in thousands) Loans Loans Loans Total Current Total Real estate secured: Commercial $ 502 $ 125 $ 262 $ 889 $ 169,547 $ 170,436 Construction and land 50 18 18 86 31,044 31,130 Residential 1-4 family 3,700 1,096 710 5,506 237,416 242,922 Multifamily 262 — — 262 13,376 13,638 Farmland 111 47 152 310 20,480 20,790 Total real estate loans 4,625 1,286 1,142 7,053 471,863 478,916 Commercial 406 — 323 729 53,265 53,994 Agriculture 244 — 21 265 4,532 4,797 Consumer installment 98 24 23 145 22,982 23,127 All other loans — — — — 1,710 1,710 Total loans $ 5,373 $ 1,310 $ 1,509 $ 8,192 $ 554,352 $ 562,544 The Company categorizes loans receivable into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans receivable as to credit risk. The Company uses the following definitions for risk ratings: Pass Special Mention Substandard A substandard loan is inadequately protected by the current sound net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans classified as substandard must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt; they are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful Loans classified doubtful have all the weaknesses inherent in loans classified as substandard, plus the added characteristic that the weaknesses make collection or liquidation in full on the basis of currently existing facts, conditions, and values highly questionable and improbable. Based on the most recent analysis performed, the risk categories of loans receivable as of March 31, 2020 and December 31, 2019 was as follows: As of March 31, 2020 (Dollars are in thousands) Pass Special Substandard Doubtful Total Real estate secured: Commercial $ 164,357 $ 4,562 $ 2,739 $ — $ 171,658 Construction and land development 30,446 326 69 — 30,841 Residential 1-4 family 235,504 1,622 3,202 — 240,328 Multifamily 13,797 242 — — 14,039 Farmland 18,583 1,427 353 — 20,363 Total real estate loans 462,687 8,179 6,363 — 477,229 Commercial 50,685 2,447 172 286 53,590 Agriculture 5,204 — 37 — 5,241 Consumer installment loans 22,560 13 19 — 22,592 All other loans 1,816 — — — 1,816 Total $ 542,952 $ 10,639 $ 6,591 $ 286 $ 560,468 As of December 31, 2019 (Dollars are in thousands) Pass Special Mention Substandard Doubtful Total Real estate secured: Commercial $ 165,570 $ 3,265 $ 1,601 $ — $ 170,436 Construction and land development 30,747 360 23 — 31,130 Residential 1-4 family 239,210 1,207 2,505 — 242,922 Multifamily 13,638 — — — 13,638 Farmland 18,779 1,480 531 — 20,790 Total real estate loans 467,944 6,312 4,660 — 478,916 Commercial 51,086 2,504 118 286 53,994 Agriculture 4,753 4 40 — 4,797 Consumer installment loans 23,087 12 28 — 23,127 All other loans 1,710 — — — 1,710 Total $ 548,580 $ 8,832 $ 4,846 $ 286 $ 562,544

ALLOWANCE FOR LOAN LOSSES

ALLOWANCE FOR LOAN LOSSES	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
ALLOWANCE FOR LOAN LOSSES	NOTE 7 ALLOWANCE FOR LOAN LOSSES The following table details activity in the allowance for loan losses by portfolio segment for the three months period ended March 31, 2020. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. As of March 31, 2020 (Dollars are in thousands) Beginning Charge Recoveries Provisions Ending Real estate secured: Commercial $ 1,248 $ (22 ) $ 2 $ 452 $ 1,680 Construction and land development 158 — — 56 214 Residential 1-4 family 1,736 — 8 333 2,077 Multifamily 104 — — 28 132 Farmland 109 (42 ) 33 46 146 Total real estate loans 3,355 (64 ) 43 915 4,249 Commercial 1,789 (13 ) 29 51 1,856 Agriculture 27 — 1 11 39 Consumer installment loans 188 (33 ) 6 22 183 All other loans 7 — — 3 10 Unallocated 2 — — (2 ) — Total $ 5,368 $ (110 ) $ 79 $ 1,000 $ 6,337 The following table presents the allocation of the allowance for loan losses by portfolio segment, based on impairment method, as of March 31, 2020: Allowance for Loan Losses Recorded Investment in Loans (Dollars are in thousands) Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Real estate secured: Commercial $ 210 $ 1,470 $ 1,680 $ 2,756 $ 168,902 $ 171,658 Construction and land — 214 214 63 30,778 30,841 Residential 1-4 family 39 2,038 2,077 1,398 238,930 240,328 Multifamily — 132 132 — 14,039 14,039 Farmland 8 138 146 959 19,404 20,363 Total real estate loans 257 3,992 4,249 5,176 472,053 477,229 Commercial 200 1,656 1,856 387 53,203 53,590 Agriculture — 39 39 — 5,241 5,241 Consumer installment loans — 183 183 — 22,592 22,592 All other loans — 10 10 — 1,816 1,816 Unallocated — — — — — — Total $ 457 $ 5,880 $ 6,337 $ 5,563 $ 554,905 $ 560,468 The following table details activity in the allowance for loan losses by portfolio segment for the year ended December 31, 2019. The commercial charge-off amount includes $1 million in losses incurred during the third quarter of 2019, related to three unrelated borrowers, who either ceased business operations or filed bankruptcy. These losses resulted in a provision to the allowance during the third quarter of $1 million. During the second quarter of 2019, $4.4 million of non-performing or under-performing real estate loans were sold resulting in $113 thousand of charge-offs and $57 thousand of recoveries. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. As of December 31, 2019 (Dollars are in thousands) Beginning Charge Recoveries Provisions Ending Real estate secured: Commercial $ 1,386 $ (192 ) $ 16 $ 38 $ 1,248 Construction and land development 202 — 34 (78 ) 158 Residential 1-4 family 2,437 (336 ) 202 (567 ) 1,736 Multifamily 89 — 30 (15 ) 104 Farmland 287 (33 ) 29 (174 ) 109 Total real estate loans 4,401 (561 ) 311 (796 ) 3,355 Commercial 448 (1,762 ) 61 3,042 1,789 Agriculture 37 (17 ) 2 5 27 Consumer installment loans 172 (114 ) 62 68 188 All other loans 3 — — 4 7 Unallocated 275 — — (273 ) 2 Total $ 5,336 $ (2,454 ) $ 436 $ 2,050 $ 5,368 The following table presents the allocation of the allowance for loan losses by portfolio segment, based on impairment method, as of December 31, 2019: Allowance for Loan Losses Recorded Investment in Loans As of December 31, 2019 (Dollars are in thousands) Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Real estate secured: Commercial $ 70 $ 1,178 $ 1,248 $ 2,779 $ 167,657 $ 170,436 Construction and land — 158 158 70 31,060 31,130 Residential 1-4 family 44 1,692 1,736 1,318 241,604 242,922 Multifamily — 104 104 — 13,638 13,638 Farmland 9 100 109 994 19,796 20,790 Total real estate loans 123 3,232 3,355 5,161 473,755 478,916 Commercial 200 1,589 1,789 414 53,580 53,994 Agriculture — 27 27 — 4,797 4,797 Consumer installment loans — 188 188 — 23,127 23,127 All other loans — 7 7 — 1,710 1,710 Unallocated — 2 2 — — — Total $ 323 $ 5,045 5,368 $ 5,575 $ 556,969 $ 562,544 In determining the amount of our allowance, we rely on an analysis of our loan portfolio, our experience and our evaluation of general economic conditions, as well as any regulatory input. If our assumptions prove to be incorrect, our current allowance may not be sufficient to cover future loan losses and we may experience significant increases to our provision.

TROUBLED DEBT RESTRUCTURINGS

TROUBLED DEBT RESTRUCTURINGS	3 Months Ended
	Mar. 31, 2020
Troubled Debt Restructurings
TROUBLED DEBT RESTRUCTURINGS	NOTE 8 TROUBLED DEBT RESTRUCTURINGS: There were $4.3 million in loans that were classified as troubled debt restructurings at both March 31, 2020 and December 31, 2019. All loans considered to be troubled debt restructurings are individually evaluated for impairment as part of the allowance for loan losses calculation. No loans modified during the three months ended March 31, 2020 or March 31, 2019, were considered to be troubled debt restructurings. One loan previously modified as a troubled debt restructuring, with a balance of $663 thousand, defaulted during the three months ended March 31, 2020. No loans modified as troubled debt restructurings defaulted during the three months ended March 31, 2019. Generally, a troubled debt restructuring is considered to be in default once it becomes 90 days or more past due following a modification. In determining the allowance for loan losses, management considers troubled debt restructurings and subsequent defaults in these restructurings in its estimate. The Company evaluates all troubled debt restructurings for possible further impairment. As a result, the allowance may be increased, adjustments may be made in the allocation of the allowance, or charge-offs may be taken to further write down the carrying value of the loan.

OTHER REAL ESTATE OWNED

OTHER REAL ESTATE OWNED	3 Months Ended
	Mar. 31, 2020
Real Estate [Abstract]
OTHER REAL ESTATE OWNED	NOTE 9 OTHER REAL ESTATE OWNED The following table summarizes the activity in other real estate owned for the three months ended March 31, 2020 and the year ended December 31, 2019: (Dollars are in thousands) March 31, December 31, 2019 Balance, beginning of period $ 3,393 $ 5,937 Additions 252 811 Transfers from premises and equipment — 683 Proceeds from sales (118 ) (1,322 ) Proceeds from insurance claims — (19 ) Loans made to finance sales (428 ) (2,360 ) Adjustment of carrying value (87 ) (214 ) Gains (losses) from sales 58 (123 ) Balance, end of period $ 3,070 $ 3,393

FAIR VALUES

FAIR VALUES	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUES	NOTE 10 FAIR VALUES: The financial reporting standard, “Fair Value Measurements and Disclosures” provides a framework for measuring fair value under generally accepted accounting principles and requires disclosures about the fair value of assets and liabilities recognized in the balance sheet in periods subsequent to initial recognition, whether the measurements are made on a recurring basis (for example, available-for-sale investment securities) or on a nonrecurring basis (for example, impaired loans and other real estate acquired through foreclosure). Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Fair Value Measurements and Disclosures also establish fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities include debt and equity securities and derivative contracts that are traded in an exchange market, as well as U. S. Treasury, other U. S. Government and agency mortgage-backed debt securities that are highly liquid and are actively traded in over-the-counter markets. Level 2: Significant observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include debt securities with quoted prices that are traded less frequently than exchange-traded instruments and derivative contracts whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. This category generally includes certain derivative contracts and impaired loans. Level 3: Significant unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. For example, this category generally includes certain private equity investments, retained residual interests in securitizations, residential mortgage servicing rights, and highly structured or long-term derivative contracts. Investment Securities Available for Sale Loans - Foreclosed Assets – Assets and liabilities measured at fair value are as follows as of March 31, 2020 (for purpose of this table the impaired loans are shown net of the related allowance): (Dollars are in thousands) Quoted market price in active markets Significant other observable inputs Significant unobservable inputs (On a recurring basis) U.S. Government Agencies $ — $ 14,772 $ — Taxable municipals — 4,456 — Corporate bonds — 5,542 — Mortgage backed securities — 22,971 — (On a non-recurring basis) — — 3,070 Impaired loans — — 5,106 Total $ — $ 47,741 $ 8,176 Assets and liabilities measured at fair value are as follows as of December 31, 2019 (for purpose of this table the impaired loans are shown net of the related allowance): (Dollars are in thousands) Quoted market price in active markets Significant other observable inputs Significant unobservable inputs (On a recurring basis) U.S. Government Agencies $ — $ 15,633 $ — Taxable municipals — 4,442 — Corporate bonds — 5,523 — Mortgage backed securities — 25,051 — (On a non-recurring basis) — — 3,393 Impaired loans 5,252 Total $ — $ 50,649 $ 8,645 For Level 3 assets measured at fair value on a recurring or non-recurring basis as of March 31,2020 and December 31, 2019, the significant unobservable inputs used in the fair value measurements were as follows: Fair Value at March 31, 2020 Fair Value at December 31, 2019 Valuation Technique Significant Unobservable Inputs General Range of Significant Unobservable Input Values Impaired Loans $ 5,106 $ 5,252 Appraised Value/Discounted Cash Flows/Market Value of Note Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell 0 – 18% Other Real Estate Owned $ 3,070 $ 3,393 Appraised Value/Comparable Sales/Other Estimates from Independent Sources Discounts to reflect current market conditions and estimated costs to sell 0 – 18% Fair Value of Financial Instruments Fair value information about financial instruments, whether or not recognized in the balance sheet, for which it is practical to estimate the value is based upon the characteristics of the instruments and relevant market information. Financial instruments include cash, evidence of ownership in an entity, or contracts that convey or impose on an entity that contractual right or obligation to either receive or deliver cash for another financial instrument. The following summary presents the methodologies and assumptions used to estimate the fair value of the Company’s financial instruments presented below. The information used to determine fair value is highly subjective and judgmental in nature and, therefore, the results may not be precise. Subjective factors include, among other things, estimates of cash flows, risk characteristics, credit quality, and interest rates, all of which are subject to change. Since the fair value is estimated as of the balance sheet date, the amounts that will actually be realized or paid upon settlement or maturity on these various instruments could be significantly different. The carrying amount and fair value of the Company’s financial instruments that are not required to be measured or reported at fair value on a recurring basis as of March 31, 2020 and December 31, 2019 are as follows: Fair Value Measurements (Dollars are in thousands) Carrying Fair Quoted market price in active markets Significant other observable inputs Significant unobservable inputs March 31, 2020 Financial Instruments – Assets Net Loans $ 554,131 $ 550,932 $ — $ 545,826 $ 5,106 Financial Instruments – Liabilities Time Deposits 260,111 262,228 — 262,228 — FHLB Advances 5,000 4,972 — 4,972 — December 31, 2019 Financial Instruments – Assets Net Loans $ 557,176 $ 550,495 $ — $ 545,243 $ 5,252 Financial Instruments – Liabilities Time Deposits 257,406 259,325 — 259,325 — FHLB Advances 5,000 5,054 — 5,054 — Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not reflect any premium or discount that could result from offering for sale at one time the Company’s entire holdings of a particular financial instrument. Because no market exists for a significant portion of the Company’s financial instruments, fair value estimates are based on judgments regarding future expected loss experience, 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 can significantly affect the estimates. Estimated fair values have been determined by the Company using historical data, as generally provided in the Company’s regulatory reports, and an estimation methodology suitable for each category of financial instruments. The Company’s fair value estimates, methods and assumptions are set forth below for the Company’s other financial instruments. The carrying values of cash and due from banks, federal funds sold, interest-bearing deposits, deposits with no stated maturities, trust preferred securities and accrued interest approximates fair value and are excluded from the table above. In accordance with our adoption of Accounting Standards Update (ASU) 2016-01 in 2018, the methods utilized to measure the fair value of financial instruments at March 31, 2020 and December 31, 2019, represent an approximation of exit price; however, an actual exit price may differ.

LEASING ACTIVITIES

LEASING ACTIVITIES	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
LEASING ACTIVITIES	NOTE 11 LEASING ACTIVITIES The Company adopted ASU 2016-02 (Topic 842) effective May 31, 2017, as the Bank entered into sale leaseback transactions for four branch office sites. In September 2019, the Bank entered into a sale leaseback transaction, with a non-affiliated third party, for its branch office located in Lebanon, Virginia for a total purchase price of $1.34 million. Net proceeds, after sales expenses of $42 thousand totaled $1.30 million and a gain of $803 thousand was recorded. The Bank provided financing to the purchaser, in the amount of $752 thousand, for a term of 5 years. In connection with this sale, the Bank entered into a lease agreement with the purchaser with an initial term of 15 years, with five 5-year renewal options. As of March 31, 2020, the Bank leases five branch offices and a loan production office. The lease agreements have maturity dates ranging from November 2020 to September 2034. It is assumed that there are currently no circumstances in which the leases would be terminated prior to expiration. The weighted average remaining life of the lease terms at March 31, 2020 was 12.61 years. The discount rate used in determining the lease liability for each individual lease was the FHLB fixed advance rate which corresponded to the lease term for each transaction. This methodology is expected to be used for any other subsequent lease agreements. The weighted average discount rate for the leases at March 31, 2020 was 3.16%. For the three months ended March 31, 2020 and 2019, operating lease expenses were $144 thousand and $121 thousand, respectively. The Company’s other operating leases were evaluated and determined to be immaterial to the financial statements. At March 31, 2020, future minimum rental commitments under the non-cancellable operating leases discussed above are as follows (dollars are in thousands): 2020 $ 424 2021 511 2022 530 2023 544 2024 546 Thereafter 4,416 Total lease payments 6,971 Less imputed interest 1,234 Total $ 5,737

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	NOTE 12 REVENUE FROM CONTRACTS WITH CUSTOMERS Al l our revenue from contracts with customers as defined in ASC 606 is recognized within Non-interest income. The following table presents Non-interest income by revenue stream for the three months ended March 31, 2020 and 2019. For the three months ended March 31, (Dollars in thousands) 2020 2019 Service charges and fees $ 851 $ 841 Card processing and interchange income 753 679 Gain on sale of securities available-for-sale (1) 4 — Insurance and investment fees 132 161 Other noninterest income 425 96 Total Noninterest Income $ 2,165 $ 1,777 (1) Not within the scope of ASU 2014-09

NONINTEREST EXPENSES

NONINTEREST EXPENSES	3 Months Ended
	Mar. 31, 2020
Noninterest Expenses
NONINTEREST EXPENSES	NOTE 13 NONINTEREST EXPENSES Other operating expenses, included as part of noninterest expenses, consisted of the following for the periods presented: For the three months ended (Dollars are in thousands) 2020 2019 Advertising $ 65 $ 66 ATM network expense 392 444 Legal, professional and consulting fees 557 282 Loan related expenses 107 121 Printing and supplies 37 39 FDIC insurance premiums 93 108 Other real estate owned, net 63 193 Other 703 525 Total other operating expenses $ 2,017 $ 1,778

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 14 SUBSEQUENT EVENTS: Subsequent events are events or transactions that occur after the balance sheet date but before financial statements are issued. Recognized subsequent events are events or transactions that provide additional evidence about conditions that existed at the date of the balance sheet, including the estimates inherent in the process of preparing financial statements. Non-recognized subsequent events are events that provide evidence about conditions that did not exist at the date of the balance sheet but arose after that date. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) was signed into law, authorizing the U.S. Small Business Administration (the SBA) to guarantee loans, up to $349 billion, funded under the Paycheck Protection Program (the PPP) for small businesses who meet certain eligibility requirements. An additional $310 billion was authorized when the Paycheck Protection Program and Health Care Enhancement Act was signed into law on April 23, 2020. PPP loans are forgivable, in whole or in part, provided the proceeds are used for payroll and other permitted purposes in accordance with guidelines outlined in the PPP. These loans have a fixed interest rate of 1.00% for a term of two years, for any portion not forgiven. Payments are deferred for the first six months. SBA provides a 100% guarantee and pays the originator a processing fee ranging from 1% to 5%, based on the loan amount. The SBA began accepting applications for the PPP on April 3, 2020, and since that date, we have received authorization from the SBA to fund 584 loans totaling approximately $42.7 million. We believe that the majority of these loans will be forgiven under the provisions of the program. However, there can be risks and liability associated with participation in PPP that cannot be immediately determined. In response to the economic impact brought on by the COVID-19 pandemic, banking and financial regulators have offered guidance to financial institutions in responding to borrower requests for forbearance. In general, short-term deferrals or other minor modifications, extended to borrowers who were current in their loan obligations at December 31, 2019, will not be considered troubled debt restructurings or impairments. Through May 11, 2020, 607 loans totaling approximately $98.6 million have received forbearance from the Bank, principally in the form of short-term extensions of 90 days. While we believe that the majority of these borrowers will be able to repay their obligations, we cannot reasonably estimate the risk of loss should the adverse economic impact of the pandemic continue for an extended period of time. On May 15, 2020, the Company announced, that based on the completion of a detailed review of its operations and staffing, it was implementing a plan to transition the organization to a new structure designed to align with its strategic plan. As a result, the Company is reducing certain positions representing approximately 12% of the workforce. The estimated annual pre-tax savings resulting from this plan of termination is $1.59 million. Affected employees have been notified and transitional support is being provided, including severance payments, assistance to aid in maintaining health insurance, and support in applying for unemployment benefits. The estimated pre-tax cost of this plan of termination is $358 thousand and will be recorded during the second quarter of 2020.

RECENT ACCOUNTING DEVELOPMENTS

RECENT ACCOUNTING DEVELOPMENTS	3 Months Ended
	Mar. 31, 2020
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING DEVELOPMENTS	NOTE 15 RECENT ACCOUNTING DEVELOPMENTS: The following is a summary of recent authoritative announcements: In June 2016, per ASU No. 2016-13, ‘Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,’ the Financial Accounting Standards Board (the FASB) issued guidance to change the accounting for credit losses and modify the impairment model for certain debt securities. Subsequently, per ASU No. 2019-10, implementation for the Company is delayed until reporting periods beginning after December 15, 2022. Early adoption is permitted for all organizations for periods beginning after December 15, 2018. The Company is currently evaluating the effect that implementation of the new standard will have on its financial position, results of operations, and cash flows. In August 2018, the FASB amended the Fair Value Measurement Topic of the ASC. The amendments remove, modify, and add certain fair value disclosure requirements based on the concepts in the FASB Concepts Statement, Conceptual Framework for Financial Reporting—Chapter 8: Notes to Financial Statements. The amendments are effective for all entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted. An entity is permitted to early adopt any removed or modified disclosures upon issuance of this ASU and delay adoption of the additional disclosures until their effective date. The Company does not expect these amendments to have a material effect on its financial statements. In August 2018, the FASB amended the Intangibles—Goodwill and Other Topic of the ASC to align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The amendments will be effective for the Company for fiscal years beginning after December 15, 2019. Early adoption is permitted. The Company does not expect these amendments to have a material effect on its financial statements. In October 2018, the FASB amended the Consolidation topic of the ASC for determining whether a decision-making fee is a variable interest. The amendments require organizations to consider indirect interests held through related parties under common control on a proportional basis rather than as the equivalent of a direct interest in its entirety. The amendments will be effective for the Company for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years . In November 2018, the FASB amended the Collaborative Arrangements Topic of the ASC to clarify the interaction between the guidance for certain collaborative arrangements and the new revenue recognition financial accounting and reporting standard. The amendments will be effective for the Company for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted. The Company does not expect these amendments to have a material effect on its financial statements. In November 2018, the FASB issued guidance to amend the Financial Instruments—Credit Losses topic of the ASC. The guidance aligns the implementation date of the topic for annual financial statements of nonpublic companies with the implementation date for their interim financial statements. The guidance also clarifies that receivables arising from operating leases are not within the scope of the topic, but rather, should be accounted for in accordance with the leases topic. The amendments will be effective for the Company for reporting periods beginning after December 15, 2019 . In March 2019, as part of the FASB’s ongoing annual improvements project, it amended the Leases Topic of the ASC to clarify the Codification more generally and/or to correct unintended application of guidance. The amendments relate to determining the fair value of the underlying asset by lessors that are not manufacturers or dealers, presentation on the statement of cash flows – sales-type and direct financing leases, and transition disclosures related to the Accounting Changes and Error Corrections Topic. The amendments will be effective for the Company for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted. The Company does not expect these amendments to have a material effect on its financial statements. In April 2019, as part of the FASB’s ongoing annual improvements project, it amended various Topics of the ASC related to financial instruments to clarify the Codification more generally and/or to correct unintended application of guidance. The amendments relate to Recognition and Measurement of Financial Assets and Financial Liabilities, Measurement of Credit Losses on Financial Instruments, and Targeted Improvements to Accounting for Hedging Activities. The amendments will be effective for the Company for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted. The Company does not expect these amendments to have a material effect on its financial statements. In May 2019, the FASB issued targeted transition relief for entities which irrevocably elect the fair value option for certain financial assets previously measured at amortized cost basis. For those entities, the amendments to the transition guidance for ASU 2016-13 will increase comparability of financial statement information by providing an option to align measurement methodologies for similar financial assets. Subsequently, per ASU No. 2019-10, implementation for the Company is delayed until reporting periods beginning after December 15, 2021. The Company is currently in the process of evaluating the impact of adoption of this guidance on its financial statements. In November, 2019, the FASB released ASU 2019-10, ‘Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842),’ in which the FASB shared a new philosophy to extend and simplify how effective dates for certain major Updates would be staggered between larger public companies (bucket one) and all other entities (bucket two). A major Update would first be effective for bucket-one entities. For bucket-two entities, including the Company, it is anticipated that the FASB will consider requiring an effective date staggered at least two years after bucket one for major Updates. Generally, it is expected that early application would continue to be allowed for all entities. The Company is considered a bucket-two entity due to its eligibility to be a smaller reporting company, per the Securities and Exchange Commission (the SEC). This Update applies to ASU 2016-13, as discussed above, ASU 2017-12, which does not apply to the Company, and ASU 2016-02, which the Company has already early-adopted, as discussed above. In December, 2019, the FASB released ASU 2019-12, ‘Income Taxes (Topic 740),’ which simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740, improve consistent application, and simplify GAAP for other areas of Topic 740. The amendments in this Update are effective for the Company for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. The Company does not expect these amendments to have a material effect on its financial statements. In January, 2020, the FASB released ASU 2020-01, ‘Investments – Equity Securities (Topic 321), Investments – Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815),’ which clarify certain interactions between the guidance to account for certain equity securities under Topic 321, 323 and 815, and improve current GAAP by reducing diversity in practice and increasing comparability of accounting. The Company does not expect these amendments to have a material effect on its financial statements. In March, 2020, the FASB released ASU 2020-03, ‘Codification Improvements to Financial Instruments,’ as part of its ongoing project for improving the Codification or correcting its unintended application. This particular Update is being issued to increase stakeholder awareness of these amendments. These amendments affect Fair Value Option Disclosures, Applicability of Portfolio Exception in Topic 820 to Nonfinancial Items, Disclosures for Depository and Lending Institutions, Cross-Reference to Line-of-Credit or Revolving-Debt Arrangements Guidance in Subtopic 470-50, Cross-Reference to Net Asset Value Practical Expedient in Subtopic 820-10, Interaction of Topic 842 and Topic 326, and Interaction of Topic 326 and Subtopic 860-20. The Company does not expect these amendments to have a material effect on its financial statements. In March, 2020, the FASB released ASU 2020-04, ‘Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting,’ which provides optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform. The amendments in this Update are elective and apply to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments in the Update are effective for the Company as of March 12, 2020 through December 31, 2022. The Company is currently in the process of evaluating the impact of adoption of this guidance on its financial statements. Other accounting standards that have been issued or proposed by the FASB or other standards-setting bodies are not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	These consolidated financial statements conform to U. S. generally accepted accounting principles (GAAP) and to general industry practices. In the opinion of management, the accompanying consolidated financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to present fairly the Company’s financial position at March 31, 2020 and December 31, 2019, and the results of operations for the three month periods ended March 31, 2020 and 2019. The notes included herein should be read in conjunction with the notes to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019. The results of operations for interim periods are not necessarily indicative of the results of operations that may be expected for a full year or any future period. The consolidated financial statements include New Peoples, the Bank, NPB Insurance Services, Inc., and NPB Web Services, Inc. (Hereinafter, collectively referred to as the Company, we, us or our). All significant intercompany balances and transactions have been eliminated. In accordance with Accounting Standards Codification (ASC) 942, Financial Services – Depository and Lending, NPB Capital Trust I and 2 are not included in the consolidated financial statements. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The determination of the adequacy of the allowance for loan losses and the determination of the deferred tax asset and related valuation allowance are based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions.

INCOME PER SHARE (Tables)

INCOME PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2020
Income Per Share
Schedule of basic and diluted net loss per common share calculations	For the three-month periods ended March 31, 2020 and 2019, there were no potential common shares. Basic and diluted net income per common share calculations follows: (Dollars in Thousands, Except For the three months ended 2020 2019 Net income $ 46 $ 406 Weighted average shares outstanding 23,922,086 23,922,086 Weighted average dilutive shares outstanding 23,922,086 23,922,086 Basic and diluted income per share $ 0.00 $ 0.02

CAPITAL (Tables)

CAPITAL (Tables)	3 Months Ended
	Mar. 31, 2020
Banking Regulation, Total Capital [Abstract]
Schedule of capital requirements	The Bank’s actual capital amounts and ratios are presented in the following table as of March 31, 2020 and December 31, 2019, respectively. Actual Minimum Capital Requirement Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions (Dollars are in thousands) Amount Ratio Amount Ratio Amount Ratio March 31, 2020: Total Capital to Risk Weighted Assets 72,977 15.06 % $ 38,770 8.0 % $ 48,463 10.0 % Tier 1 Capital to Risk Weighted Assets 66,916 13.81 % 29,078 6.0 % 38,770 8.0 % Tier 1 Capital to Average Assets 66,916 9.43 % 28,396 4.0 % 35,495 5.0 % Common Equity Tier 1 Capital to Risk Weighted Assets 66,916 13.81 % 21,808 4.5 % 31,501 6.5 % December 31, 2019: Total Capital to Risk Weighted Assets 72,109 14.83 % $ 38,910 8.0 % $ 48,637 10.0 % Tier 1 Capital to Risk Weighted Assets 66,741 13.72 % 29,182 6.0 % 38,910 8.0 % Tier 1 Capital to Average Assets 66,741 9.43 % 28,313 4.0 % 35,391 5.0 % Common Equity Tier 1 Capital to Risk Weighted Assets 66,741 13.72 % 21,887 4.5 % 31,614 6.5 %

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2020
Investment Securities Activity
Schedule of securities amortized cost and estimated fair value	The amortized cost and estimated fair value of available-for-sale (AFS) securities as March 31, 2020 and December 31, 2019 is as follows: Gross Gross Gross Amortized Unrealized Unrealized Unrealized Fair (Dollars are in thousands) Cost Gains Losses Value March 31, 2020 U.S. Government Agencies $ 14,659 $ 180 $ (67 ) $ 14,772 Taxable municipals 4,379 79 (2 ) 4,456 Corporate bonds 5,404 138 — 5,542 Mortgage backed securities 22,464 527 (20 ) 22,971 Total Securities AFS $ 46,906 $ 924 $ (89 ) $ 47,741 December 31, 2019 U.S. Government Agencies $ 15,703 $ 57 $ (127 ) $ 15,633 Taxable municipals 4,389 54 (1 ) 4,442 Corporate bonds 5,408 115 — 5,523 Mortgage backed securities 25,077 111 (137 ) 25,051 Total Securities AFS $ 50,577 $ 337 $ (265 ) $ 50,649
Schedule of fair value and gross unrealized losses on investment securities	The following table details unrealized losses and related fair values in the AFS portfolio. This information is aggregated by the length of time that individual securities have been in a continuous unrealized loss position as of March 31, 2020 and December 31, 2019. Less than 12 Months 12 Months or More Total (Dollars are in thousands) Fair Value Unrealized Fair Unrealized Fair Unrealized March 31, 2020 U.S. Government Agencies $ 233 $ (1 ) $ 4,412 $ (66 ) $ 4,645 $ (67 ) Taxable municipals 255 (2 ) — — 255 (2 ) Mortgage backed securities 503 (2 ) 1,515 (18 ) 2,018 (20 ) Total Securities AFS $ 991 $ (5 ) $ 5,927 $ (84 ) $ 6,918 $ (89 ) December 31, 2019 U.S. Government Agencies $ 6,788 $ (46 ) $ 4,516 $ (81 ) $ 11,304 $ (127 ) Taxable municipals 1,049 (1 ) — — 1,049 (1 ) Mortgage backed securities 1,586 (4 ) 12,002 (133 ) 13,588 (137 ) Total Securities AFS $ 9,423 $ (51 ) $ 16,518 $ (214 ) $ 25,941 $ (265 )
Schedule of debt securities	The following table summarizes sales of AFS debt securities for the three months-ended March 31, (Dollars are in thousands) 2020 2019 Proceeds $ 1,025 $ — Gains 7 — Losses (3 ) — Tax benefit (1 ) —
Schedule of amortized cost and fair value of investment securities contractual maturity	The amortized cost and fair value of investment securities at March 31, 2020, by contractual maturity, are shown in the following schedule. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Weighted (Dollars are in thousands) Amortized Fair Average Securities Available-for-Sale Cost Value Yield Due in one year or less $ 253 $ 255 2.85% Due after one year through five years 4,462 4,580 2.67% Due after five years through ten years 12,038 12,256 3.44% Due after ten years 30,153 30,650 2.32% Total $ 46,906 $ 47,741 2.64%

LOANS (Tables)

LOANS (Tables)	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Summary of loans receivable outstanding	Loans receivable outstanding as of March 31, 2020 and December 31, 2019 are summarized as follows: (Dollars are in thousands) March 31, December 31, 2019 Real estate secured: Commercial $ 171,658 $ 170,436 Construction and land development 30,841 31,130 Residential 1-4 family 240,328 242,922 Multifamily 14,039 13,638 Farmland 20,363 20,790 Total real estate loans 477,229 478,916 Commercial 53,590 53,994 Agriculture 5,241 4,797 Consumer installment loans 22,592 23,127 All other loans 1,816 1,710 Total loans $ 560,468 $ 562,544
Summary of loans receivable on nonaccrual status	Loans receivable on nonaccrual status as of March 31, 2020 and December 31, 209 are summarized as follows: (Dollars are in thousands) March 31, December 31, 2019 Real estate secured: Commercial $ 2,734 $ 1,601 Construction and land development 69 45 Residential 1-4 family 3,239 2,544 Farmland 353 531 Total real estate loans 6,395 4,721 Commercial 424 390 Consumer installment loans and other loans 55 45 Total loans receivable on nonaccrual status $ 6,874 $ 5,156
Summary of impaired loans	The following table presents information concerning the Company’s investment in loans considered impaired as of March 31, 2020 and December 31, 2019: As of March 31, 2020 (Dollars are in thousands) Average Interest Recorded Unpaid Principal Balance Related With no related allowance recorded: Real estate secured: Commercial $ 2,335 $ 9 $ 2,253 $ 2,328 $ — Construction and land development 67 4 63 337 — Residential 1-4 family 1,304 13 1,345 1,444 — Multifamily — — — — — Farmland 761 10 744 940 — Commercial 115 1 101 111 — Agriculture — — — — — Consumer installment loans — — — — — All other loans — — — — — With an allowance recorded: Real estate secured: Commercial 433 — 503 525 210 Construction and land development — — — — — Residential 1-4 family 54 — 53 60 39 Multifamily — — — — — Farmland 216 2 215 226 8 Commercial 286 — 286 886 200 Agriculture — — — — — Consumer installment loans — — — — — All other loans — — — — — Total $ 5,571 $ 39 $ 5,563 $ 6,857 $ 457 As of December 31, 2019 (Dollars are in thousands) Average Interest Recorded Unpaid Principal Balance Related With no related allowance recorded: Real estate secured: Commercial $ 2,017 $ 100 $ 2,416 $ 2,478 $ — Construction and land development 91 7 70 346 — Residential 1-4 family 1,944 55 1,263 1,460 — Multifamily 29 1 — — — Farmland 1,143 47 778 970 — Commercial 578 11 128 178 — Agriculture — — — 1 — Consumer installment loans 2 — — — — All other loans — — — — — With an allowance recorded: Real estate secured: Commercial 470 1 363 379 70 Construction and land development — — — — — Residential 1-4 family 302 — 55 60 44 Multifamily — — — — — Farmland 221 11 216 228 9 Commercial 507 7 286 886 200 Agriculture — — — — — Consumer installment loans 3 — — — — All other loans — — — — — Total $ 7,307 $ 240 $ 5,575 $ 6,986 $ 323
Summary of age analysis of past due loans receivable	An age analysis of past due loans receivable as of March 31, 2020 and December 31, 2019 is below. At March 31, 2020 and December 31, 2019, there were no loans over 90 days past due that were accruing. As of March 31, 2020 (Dollars are in thousands) Loans Loans Loans Total Current Total Real estate secured: Commercial $ 516 $ 887 $ 188 $ 1,591 $ 170,067 $ 171,658 Construction and land 13 50 — 63 30,778 30,841 Residential 1-4 family 3,609 777 1,139 5,525 234,803 240,328 Multifamily 260 — — 260 13,779 14,039 Farmland 672 800 47 1,519 18,844 20,363 Total real estate loans 5,070 2,514 1,374 8,958 468,271 477,229 Commercial 407 60 286 753 52,837 53,590 Agriculture 111 — 22 133 5,108 5,241 Consumer installment 146 14 13 173 22,419 22,592 All other loans — — — — 1,816 1,816 Total loans $ 5,734 $ 2,588 $ 1,695 $ 10,017 $ 550,451 $ 560,468 As of December 31, 2019 (Dollars are in thousands) Loans Loans Loans Total Current Total Real estate secured: Commercial $ 502 $ 125 $ 262 $ 889 $ 169,547 $ 170,436 Construction and land 50 18 18 86 31,044 31,130 Residential 1-4 family 3,700 1,096 710 5,506 237,416 242,922 Multifamily 262 — — 262 13,376 13,638 Farmland 111 47 152 310 20,480 20,790 Total real estate loans 4,625 1,286 1,142 7,053 471,863 478,916 Commercial 406 — 323 729 53,265 53,994 Agriculture 244 — 21 265 4,532 4,797 Consumer installment 98 24 23 145 22,982 23,127 All other loans — — — — 1,710 1,710 Total loans $ 5,373 $ 1,310 $ 1,509 $ 8,192 $ 554,352 $ 562,544
Summary of risk category of loans receivable	Based on the most recent analysis performed, the risk categories of loans receivable as of March 31, 2020 and December 31, 2019 was as follows: As of March 31, 2020 (Dollars are in thousands) Pass Special Substandard Doubtful Total Real estate secured: Commercial $ 164,357 $ 4,562 $ 2,739 $ — $ 171,658 Construction and land development 30,446 326 69 — 30,841 Residential 1-4 family 235,504 1,622 3,202 — 240,328 Multifamily 13,797 242 — — 14,039 Farmland 18,583 1,427 353 — 20,363 Total real estate loans 462,687 8,179 6,363 — 477,229 Commercial 50,685 2,447 172 286 53,590 Agriculture 5,204 — 37 — 5,241 Consumer installment loans 22,560 13 19 — 22,592 All other loans 1,816 — — — 1,816 Total $ 542,952 $ 10,639 $ 6,591 $ 286 $ 560,468 As of December 31, 2019 (Dollars are in thousands) Pass Special Mention Substandard Doubtful Total Real estate secured: Commercial $ 165,570 $ 3,265 $ 1,601 $ — $ 170,436 Construction and land development 30,747 360 23 — 31,130 Residential 1-4 family 239,210 1,207 2,505 — 242,922 Multifamily 13,638 — — — 13,638 Farmland 18,779 1,480 531 — 20,790 Total real estate loans 467,944 6,312 4,660 — 478,916 Commercial 51,086 2,504 118 286 53,994 Agriculture 4,753 4 40 — 4,797 Consumer installment loans 23,087 12 28 — 23,127 All other loans 1,710 — — — 1,710 Total $ 548,580 $ 8,832 $ 4,846 $ 286 $ 562,544

ALLOWANCE FOR LOAN LOSSES (Tabl

ALLOWANCE FOR LOAN LOSSES (Tables)	3 Months Ended
	Mar. 31, 2020
Receivables [Abstract]
Summary of activity in the allowance for loan losses	The following table details activity in the allowance for loan losses by portfolio segment for the three months period ended March 31, 2020. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. As of March 31, 2020 (Dollars are in thousands) Beginning Charge Recoveries Provisions Ending Real estate secured: Commercial $ 1,248 $ (22 ) $ 2 $ 452 $ 1,680 Construction and land development 158 — — 56 214 Residential 1-4 family 1,736 — 8 333 2,077 Multifamily 104 — — 28 132 Farmland 109 (42 ) 33 46 146 Total real estate loans 3,355 (64 ) 43 915 4,249 Commercial 1,789 (13 ) 29 51 1,856 Agriculture 27 — 1 11 39 Consumer installment loans 188 (33 ) 6 22 183 All other loans 7 — — 3 10 Unallocated 2 — — (2 ) — Total $ 5,368 $ (110 ) $ 79 $ 1,000 $ 6,337 As of December 31, 2019 (Dollars are in thousands) Beginning Charge Recoveries Provisions Ending Real estate secured: Commercial $ 1,386 $ (192 ) $ 16 $ 38 $ 1,248 Construction and land development 202 — 34 (78 ) 158 Residential 1-4 family 2,437 (336 ) 202 (567 ) 1,736 Multifamily 89 — 30 (15 ) 104 Farmland 287 (33 ) 29 (174 ) 109 Total real estate loans 4,401 (561 ) 311 (796 ) 3,355 Commercial 448 (1,762 ) 61 3,042 1,789 Agriculture 37 (17 ) 2 5 27 Consumer installment loans 172 (114 ) 62 68 188 All other loans 3 — — 4 7 Unallocated 275 — — (273 ) 2 Total $ 5,336 $ (2,454 ) $ 436 $ 2,050 $ 5,368
Schedule of allocation of portion of allowance	The following table presents the allocation of the allowance for loan losses by portfolio segment, based on impairment method, as of March 31, 2020: Allowance for Loan Losses Recorded Investment in Loans (Dollars are in thousands) Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Real estate secured: Commercial $ 210 $ 1,470 $ 1,680 $ 2,756 $ 168,902 $ 171,658 Construction and land — 214 214 63 30,778 30,841 Residential 1-4 family 39 2,038 2,077 1,398 238,930 240,328 Multifamily — 132 132 — 14,039 14,039 Farmland 8 138 146 959 19,404 20,363 Total real estate loans 257 3,992 4,249 5,176 472,053 477,229 Commercial 200 1,656 1,856 387 53,203 53,590 Agriculture — 39 39 — 5,241 5,241 Consumer installment loans — 183 183 — 22,592 22,592 All other loans — 10 10 — 1,816 1,816 Unallocated — — — — — — Total $ 457 $ 5,880 $ 6,337 $ 5,563 $ 554,905 $ 560,468 The following table presents the allocation of the allowance for loan losses by portfolio segment, based on impairment method, as of December 31, 2019: Allowance for Loan Losses Recorded Investment in Loans As of December 31, 2019 (Dollars are in thousands) Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Real estate secured: Commercial $ 70 $ 1,178 $ 1,248 $ 2,779 $ 167,657 $ 170,436 Construction and land — 158 158 70 31,060 31,130 Residential 1-4 family 44 1,692 1,736 1,318 241,604 242,922 Multifamily — 104 104 — 13,638 13,638 Farmland 9 100 109 994 19,796 20,790 Total real estate loans 123 3,232 3,355 5,161 473,755 478,916 Commercial 200 1,589 1,789 414 53,580 53,994 Agriculture — 27 27 — 4,797 4,797 Consumer installment loans — 188 188 — 23,127 23,127 All other loans — 7 7 — 1,710 1,710 Unallocated — 2 2 — — — Total $ 323 $ 5,045 5,368 $ 5,575 $ 556,969 $ 562,544

OTHER REAL ESTATE OWNED (Tables

OTHER REAL ESTATE OWNED (Tables)	3 Months Ended
	Mar. 31, 2020
Real Estate [Abstract]
Schedule of other real estate owned	The following table summarizes the activity in other real estate owned for the three months ended March 31, 2020 and the year ended December 31, 2019: (Dollars are in thousands) March 31, December 31, 2019 Balance, beginning of period $ 3,393 $ 5,937 Additions 252 811 Transfers from premises and equipment — 683 Proceeds from sales (118 ) (1,322 ) Proceeds from insurance claims — (19 ) Loans made to finance sales (428 ) (2,360 ) Adjustment of carrying value (87 ) (214 ) Gains (losses) from sales 58 (123 ) Balance, end of period $ 3,070 $ 3,393

FAIR VALUES (Tables)

FAIR VALUES (Tables)	3 Months Ended
	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Schedule of summary of assets and liabilities measured at fair value	Assets and liabilities measured at fair value are as follows as of March 31, 2020 (for purpose of this table the impaired loans are shown net of the related allowance): (Dollars are in thousands) Quoted market price in active markets Significant other observable inputs Significant unobservable inputs (On a recurring basis) U.S. Government Agencies $ — $ 14,772 $ — Taxable municipals — 4,456 — Corporate bonds — 5,542 — Mortgage backed securities — 22,971 — (On a non-recurring basis) — — 3,070 Impaired loans — — 5,106 Total $ — $ 47,741 $ 8,176 Assets and liabilities measured at fair value are as follows as of December 31, 2019 (for purpose of this table the impaired loans are shown net of the related allowance): (Dollars are in thousands) Quoted market price in active markets Significant other observable inputs Significant unobservable inputs (On a recurring basis) U.S. Government Agencies $ — $ 15,633 $ — Taxable municipals — 4,442 — Corporate bonds — 5,523 — Mortgage backed securities — 25,051 — (On a non-recurring basis) — — 3,393 Impaired loans 5,252 Total $ — $ 50,649 $ 8,645
Schedule of significant unobservable inputs In level 3 assets	For Level 3 assets measured at fair value on a recurring or non-recurring basis as of March 31,2020 and December 31, 2019, the significant unobservable inputs used in the fair value measurements were as follows: Fair Value at March 31, 2020 Fair Value at December 31, 2019 Valuation Technique Significant Unobservable Inputs General Range of Significant Unobservable Input Values Impaired Loans $ 5,106 $ 5,252 Appraised Value/Discounted Cash Flows/Market Value of Note Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell 0 – 18% Other Real Estate Owned $ 3,070 $ 3,393 Appraised Value/Comparable Sales/Other Estimates from Independent Sources Discounts to reflect current market conditions and estimated costs to sell 0 – 18%
Schedule of estimated fair value of financial instruments	The carrying amount and fair value of the Company’s financial instruments that are not required to be measured or reported at fair value on a recurring basis as of March 31, 2020 and December 31, 2019 are as follows: Fair Value Measurements (Dollars are in thousands) Carrying Fair Quoted market price in active markets Significant other observable inputs Significant unobservable inputs March 31, 2020 Financial Instruments – Assets Net Loans $ 554,131 $ 550,932 $ — $ 545,826 $ 5,106 Financial Instruments – Liabilities Time Deposits 260,111 262,228 — 262,228 — FHLB Advances 5,000 4,972 — 4,972 — December 31, 2019 Financial Instruments – Assets Net Loans $ 557,176 $ 550,495 $ — $ 545,243 $ 5,252 Financial Instruments – Liabilities Time Deposits 257,406 259,325 — 259,325 — FHLB Advances 5,000 5,054 — 5,054 —

LEASING ACTIVITIES (Tables)

LEASING ACTIVITIES (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Schedule of future minimum rental commitments under the non-cancellable operating leases	The Company’s other operating leases were evaluated and determined to be immaterial to the financial statements. At March 31, 2020, future minimum rental commitments under the non-cancellable operating leases discussed above are as follows (dollars are in thousands): 2020 $ 424 2021 511 2022 530 2023 544 2024 546 Thereafter 4,416 Total lease payments 6,971 Less imputed interest 1,234 Total $ 5,737

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Schedule of revenue from contracts with customers	The following table presents Non-interest income by revenue stream for the three months ended March 31, 2020 and 2019. For the three months ended March 31, (Dollars in thousands) 2020 2019 Service charges and fees $ 851 $ 841 Card processing and interchange income 753 679 Gain on sale of securities available-for-sale (1) 4 — Insurance and investment fees 132 161 Other noninterest income 425 96 Total Noninterest Income $ 2,165 $ 1,777 (1) Not within the scope of ASU 2014-09

NON-INTEREST EXPENSES (Tables)

NON-INTEREST EXPENSES (Tables)	3 Months Ended
	Mar. 31, 2020
Noninterest Expenses
Schedule of noninterest expenses	Other operating expenses, included as part of noninterest expenses, consisted of the following for the periods presented: For the three months ended (Dollars are in thousands) 2020 2019 Advertising $ 65 $ 66 ATM network expense 392 444 Legal, professional and consulting fees 557 282 Loan related expenses 107 121 Printing and supplies 37 39 FDIC insurance premiums 93 108 Other real estate owned, net 63 193 Other 703 525 Total other operating expenses $ 2,017 $ 1,778

INCOME PER SHARE (Details)

INCOME PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Per Share
Net income	$ 46	$ 406
Weighted average shares outstanding	23,922,086	23,922,086
Weighted average dilutive shares outstanding	23,922,086	23,922,086
Basic and diluted income per share	$ 0	$ 0.02

CAPITAL (Details)

CAPITAL (Details) - Bank $ in Thousands	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Total Capital to Risk Weighted Assets, Actual, Amount	$ 72,977	$ 72,109
Total Capital to Risk Weighted Assets, Actual, Ratio	0.1506	0.1483
Total Capital to Risk Weighted Assets, Minimum Capital Requirement, Amount	$ 38,770	$ 38,910
Total Capital to Risk Weighted Assets, Minimum Capital Requirement, Ratio	0.0800	0.080
Total Capital to Risk Weighted Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 48,463	$ 48,637
Total Capital to Risk Weighted Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.1000	0.100
Tier 1 Capital Risk Weighted Assets, Actual, Amount	$ 66,916	$ 66,741
Tier 1 Capital Risk Weighted Assets, Actual, Ratio	0.1381	0.1372
Tier 1 Capital Risk Weighted Assets, Minimum Capital Requirement, Amount	$ 29,078	$ 29,182
Tier 1 Capital Risk Weighted Assets, Minimum Capital Requirement, Ratio	0.0600	0.060
Tier 1 Capital Risk Weighted Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 38,770	$ 38,910
Tier 1 Capital Risk Weighted Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.0800	0.080
Tier 1 Capital to Average Assets, Actual, Amount	$ 66,916	$ 66,741
Tier 1 Capital to Average Assets, Actual, Ratio	0.0943	0.0943
Tier 1 Capital to Average Assets, Minimum Capital Requirement, Amount	$ 28,396	$ 28,313
Tier 1 Capital to Average Assets, Minimum Capital Requirement, Ratio	0.0400	0.040
Tier 1 Capital to Average Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 35,495	$ 35,391
Tier 1 Capital to Average Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.0500	0.050
Common Equity Tier 1 Capital to Risk Weighted Assets, Actual, Amount	$ 66,916	$ 66,741
Common Equity Tier 1 Capital to Risk Weighted Assets, Actual, Ratio	13.81%	13.72%
Common Equity Tier 1 Capital to Risk Weighted Assets, Minimum Capital Requirement, Amount	$ 21,808	$ 21,887
Common Equity Tier 1 Capital to Risk Weighted Assets, Minimum Capital Requirement, Ratio	4.50%	4.50%
Common Equity Tier 1 Capital to Risk Weighted Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 31,501	$ 31,614
Common Equity Tier 1 Capital to Risk Weighted Assets, Minimum to Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	6.50%	6.50%

INVESTMENT SECURITIES (Details)

INVESTMENT SECURITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Amortized Cost	$ 46,906	$ 50,577
Gross Unrealized Gains	924	337
Gross Unrealized Losses	(89)	(265)
Approximate Fair Value	47,741	50,649
U.S. Government Agencies [Member]
Amortized Cost	14,659	15,703
Gross Unrealized Gains	180	57
Gross Unrealized Losses	(67)	(127)
Approximate Fair Value	14,772	15,633
Taxable Municipals [Member]
Amortized Cost	4,379	4,389
Gross Unrealized Gains	79	54
Gross Unrealized Losses	(2)	(1)
Approximate Fair Value	4,456	4,442
Corporate Bonds [Member]
Amortized Cost	5,404	5,408
Gross Unrealized Gains	138	115
Gross Unrealized Losses
Approximate Fair Value	5,542	5,523
Mortgage Backed Securities [Member]
Amortized Cost	22,464	25,077
Gross Unrealized Gains	527	111
Gross Unrealized Losses	(20)	(137)
Approximate Fair Value	$ 22,971	$ 25,051

INVESTMENT SECURITIES (Details

INVESTMENT SECURITIES (Details 1) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Less than 12 Months	$ 991	$ 9,423
Unrealized Losses, Less than 12 Months	(5)	(51)
Fair Value, 12 Months or More	5,927	16,518
Unrealized Losses, 12 Months or More	(84)	(214)
Fair Value, Total	6,918	25,941
Unrealized Losses, Total	(89)	(265)
U.S. Government Agencies [Member]
Fair Value, Less than 12 Months	233	6,788
Unrealized Losses, Less than 12 Months	(1)	(46)
Fair Value, 12 Months or More	4,412	4,516
Unrealized Losses, 12 Months or More	(66)	(81)
Fair Value, Total	4,645	11,304
Unrealized Losses, Total	(67)	(127)
Taxable Municipals [Member]
Fair Value, Less than 12 Months	255	1,049
Unrealized Losses, Less than 12 Months	(2)	(1)
Fair Value, 12 Months or More
Unrealized Losses, 12 Months or More
Fair Value, Total	255	1,049
Unrealized Losses, Total	(2)	(1)
Mortgage Backed Securities [Member]
Fair Value, Less than 12 Months	503	1,586
Unrealized Losses, Less than 12 Months	(2)	(4)
Fair Value, 12 Months or More	1,515	12,002
Unrealized Losses, 12 Months or More	(18)	(133)
Fair Value, Total	2,018	13,588
Unrealized Losses, Total	$ (20)	$ (137)

INVESTMENT SECURITIES (Detail_2

INVESTMENT SECURITIES (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Investment Securities Activity
Proceeds	$ 1,025
Gains	7
Losses	(3)
Tax benefit	$ (1)

INVESTMENT SECURITIES (Detail_3

INVESTMENT SECURITIES (Details 3) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Investment Securities Activity
Due in one year or less, amortized Cost	$ 253
Due after one year through five years, amortized cost	4,462
Due after five years through ten years, amortized cost	12,038
Due after ten years, amortized cost	30,153
Amortized cost, total	46,906	$ 50,577
Due in one year or less, fair value	255
Due after one year through five years, fair value	4,580
Due after five years through ten years, fair value	12,256
Due after ten years, fair value	30,650
Approximate fair value	$ 47,741	$ 50,649
Due in one year or less, weighted average yield	2.85%
Due after one year through five years, weighted average yield	2.67%
Due after five years through ten years, weighted average yield	3.44%
Due after ten years, weighted average yield	2.32%
Weighted average yield, total	2.64%

LOANS (Details)

LOANS (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Total loans and leases	$ 560,468	$ 562,544
Real Estate [Member]
Total loans and leases	477,229	478,916
Commercial [Member]
Total loans and leases	53,590	53,994
Commercial [Member] | Real Estate [Member]
Total loans and leases	171,658	170,436
Construction and Land Development [Member] | Real Estate [Member]
Total loans and leases	30,841	31,130
Residential 1-4 Family [Member] | Real Estate [Member]
Total loans and leases	240,328	242,922
Multifamily [Member] | Real Estate [Member]
Total loans and leases	14,039	13,638
Farmland [Member] | Real Estate [Member]
Total loans and leases	20,363	20,790
Agriculture [Member]
Total loans and leases	5,241	4,797
Consumer Installment Loans [Member]
Total loans and leases	22,592	23,127
Other Loans [Member]
Total loans and leases	$ 1,816	$ 1,710

LOANS (Details 1)

LOANS (Details 1) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Total loans receivable on nonaccrual status	$ 6,874	$ 5,156
Real Estate [Member]
Total loans receivable on nonaccrual status	6,395	4,721
Commercial [Member]
Total loans receivable on nonaccrual status	424	390
Commercial [Member] | Real Estate [Member]
Total loans receivable on nonaccrual status	2,734	1,601
Construction and Land Development [Member] | Real Estate [Member]
Total loans receivable on nonaccrual status	69	45
Residential 1-4 Family [Member] | Real Estate [Member]
Total loans receivable on nonaccrual status	3,239	2,544
Farmland [Member] | Real Estate [Member]
Total loans receivable on nonaccrual status	353	531
Consumer Installment Loans [Member]
Total loans receivable on nonaccrual status	$ 55	$ 45

LOANS (Details 2)

LOANS (Details 2) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Average Recorded Investment	$ 5,571	$ 7,307
Interest Income Recognized	39	240
Recorded Investment	5,563	5,575
Unpaid Principal Balance	6,857	6,986
Related Allowance	457	323
Commercial [Member] | Impaired Financing Receivables With No Related Allowance [Member]
Average Recorded Investment	115	578
Interest Income Recognized	1	11
Recorded Investment	101	128
Unpaid Principal Balance	111	178
Related Allowance
Commercial [Member] | Impaired Financing Receivables With Related Allowance [Member]
Average Recorded Investment	286	507
Interest Income Recognized		7
Recorded Investment	286	286
Unpaid Principal Balance	886	886
Related Allowance	200	200
Agriculture [Member] | Impaired Financing Receivables With No Related Allowance [Member]
Average Recorded Investment
Interest Income Recognized
Recorded Investment
Unpaid Principal Balance		1
Related Allowance
Agriculture [Member] | Impaired Financing Receivables With Related Allowance [Member]
Average Recorded Investment
Interest Income Recognized
Recorded Investment
Unpaid Principal Balance
Related Allowance
Consumer Installment Loans [Member] | Impaired Financing Receivables With No Related Allowance [Member]
Average Recorded Investment		2
Interest Income Recognized
Recorded Investment
Unpaid Principal Balance
Related Allowance
Consumer Installment Loans [Member] | Impaired Financing Receivables With Related Allowance [Member]
Average Recorded Investment		3
Interest Income Recognized
Recorded Investment
Unpaid Principal Balance
Related Allowance
Commercial [Member] | Real Estate [Member] | Impaired Financing Receivables With No Related Allowance [Member]
Average Recorded Investment	2,335	2,017
Interest Income Recognized	9	100
Recorded Investment	2,253	2,416
Unpaid Principal Balance	2,328	2,478
Related Allowance
Commercial [Member] | Real Estate [Member] | Impaired Financing Receivables With Related Allowance [Member]
Average Recorded Investment	433	470
Interest Income Recognized		1
Recorded Investment	503	363
Unpaid Principal Balance	525	379
Related Allowance	210	70
Construction and Land Development [Member] | Real Estate [Member] | Impaired Financing Receivables With No Related Allowance [Member]
Average Recorded Investment	67	91
Interest Income Recognized	4	7
Recorded Investment	63	70
Unpaid Principal Balance	337	346
Related Allowance
Construction and Land Development [Member] | Real Estate [Member] | Impaired Financing Receivables With Related Allowance [Member]
Average Recorded Investment
Interest Income Recognized
Recorded Investment
Unpaid Principal Balance
Related Allowance
Residential 1-4 Family [Member] | Real Estate [Member] | Impaired Financing Receivables With No Related Allowance [Member]
Average Recorded Investment	1,304	1,944
Interest Income Recognized	13	55
Recorded Investment	1,345	1,263
Unpaid Principal Balance	1,444	1,460
Related Allowance
Residential 1-4 Family [Member] | Real Estate [Member] | Impaired Financing Receivables With Related Allowance [Member]
Average Recorded Investment	54	302
Interest Income Recognized
Recorded Investment	53	55
Unpaid Principal Balance	60	60
Related Allowance	39	44
Multifamily [Member] | Real Estate [Member] | Impaired Financing Receivables With No Related Allowance [Member]
Average Recorded Investment		29
Interest Income Recognized		1
Recorded Investment
Unpaid Principal Balance
Related Allowance
Multifamily [Member] | Real Estate [Member] | Impaired Financing Receivables With Related Allowance [Member]
Average Recorded Investment
Interest Income Recognized
Recorded Investment
Unpaid Principal Balance
Related Allowance
Farmland [Member] | Real Estate [Member] | Impaired Financing Receivables With No Related Allowance [Member]
Average Recorded Investment	761	1,143
Interest Income Recognized	10	47
Recorded Investment	744	778
Unpaid Principal Balance	940	970
Related Allowance
Farmland [Member] | Real Estate [Member] | Impaired Financing Receivables With Related Allowance [Member]
Average Recorded Investment	216	221
Interest Income Recognized	2	11
Recorded Investment	215	216
Unpaid Principal Balance	226	228
Related Allowance	8	9
Other Loans [Member] | Impaired Financing Receivables With No Related Allowance [Member]
Average Recorded Investment
Interest Income Recognized
Recorded Investment
Unpaid Principal Balance
Related Allowance
Other Loans [Member] | Impaired Financing Receivables With Related Allowance [Member]
Average Recorded Investment
Interest Income Recognized
Recorded Investment
Unpaid Principal Balance
Related Allowance

LOANS (Details 3)

LOANS (Details 3) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Loans 30-59 Days Past Due	$ 5,734	$ 5,373
Loans 60-89 Days Past Due	2,588	1,310
Loans 90 or More Days Past Due	1,695	1,509
Total Past Due Loans	10,017	8,192
Current Loans	550,451	554,352
Total loans and leases	560,468	562,544
Real Estate [Member]
Loans 30-59 Days Past Due	5,070	4,625
Loans 60-89 Days Past Due	2,514	1,286
Loans 90 or More Days Past Due	1,374	1,142
Total Past Due Loans	8,958	7,053
Current Loans	468,271	471,863
Total loans and leases	477,229	478,916
Commercial [Member]
Loans 30-59 Days Past Due	407	406
Loans 60-89 Days Past Due	60
Loans 90 or More Days Past Due	286	323
Total Past Due Loans	753	729
Current Loans	52,837	53,265
Total loans and leases	53,590	53,994
Commercial [Member] | Real Estate [Member]
Loans 30-59 Days Past Due	516	502
Loans 60-89 Days Past Due	887	125
Loans 90 or More Days Past Due	188	262
Total Past Due Loans	1,591	889
Current Loans	170,067	169,547
Total loans and leases	171,658	170,436
Construction and Land Development [Member] | Real Estate [Member]
Loans 30-59 Days Past Due	13	50
Loans 60-89 Days Past Due	50	18
Loans 90 or More Days Past Due		18
Total Past Due Loans	63	86
Current Loans	30,778	31,044
Total loans and leases	30,841	31,130
Residential 1-4 Family [Member] | Real Estate [Member]
Loans 30-59 Days Past Due	3,609	3,700
Loans 60-89 Days Past Due	777	1,096
Loans 90 or More Days Past Due	1,139	710
Total Past Due Loans	5,525	5,506
Current Loans	234,803	237,416
Total loans and leases	240,328	242,922
Multifamily [Member] | Real Estate [Member]
Loans 30-59 Days Past Due	260	262
Loans 60-89 Days Past Due
Loans 90 or More Days Past Due
Total Past Due Loans	260	262
Current Loans	13,779	13,376
Total loans and leases	14,039	13,638
Farmland [Member] | Real Estate [Member]
Loans 30-59 Days Past Due	672	111
Loans 60-89 Days Past Due	800	47
Loans 90 or More Days Past Due	47	152
Total Past Due Loans	1,519	310
Current Loans	18,844	20,480
Total loans and leases	20,363	20,790
Agriculture [Member]
Loans 30-59 Days Past Due	111	244
Loans 60-89 Days Past Due
Loans 90 or More Days Past Due	22	21
Total Past Due Loans	133	265
Current Loans	5,108	4,532
Total loans and leases	5,241	4,797
Consumer Installment Loans [Member]
Loans 30-59 Days Past Due	146	98
Loans 60-89 Days Past Due	14	24
Loans 90 or More Days Past Due	13	23
Total Past Due Loans	173	145
Current Loans	22,419	22,982
Total loans and leases	22,592	23,127
Other Loans [Member]
Loans 30-59 Days Past Due
Loans 60-89 Days Past Due
Loans 90 or More Days Past Due
Total Past Due Loans
Current Loans	1,816	1,710
Total loans and leases	$ 1,816	$ 1,710

LOANS (Details 4)

LOANS (Details 4) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Total	$ 560,468	$ 562,544
Pass [Member]
Total	542,952	548,580
Special Mention [Member]
Total	10,639	8,832
Substandard [Member]
Total	6,591	4,846
Doubtful [Member]
Total	286	286
Real Estate [Member]
Total	477,229	478,916
Real Estate [Member] | Pass [Member]
Total	462,687	467,944
Real Estate [Member] | Special Mention [Member]
Total	8,179	6,312
Real Estate [Member] | Substandard [Member]
Total	6,363	4,660
Real Estate [Member] | Doubtful [Member]
Total
Commercial [Member]
Total	53,590	53,994
Commercial [Member] | Pass [Member]
Total	50,685	51,086
Commercial [Member] | Special Mention [Member]
Total	2,447	2,504
Commercial [Member] | Substandard [Member]
Total	172	118
Commercial [Member] | Doubtful [Member]
Total	286	286
Commercial [Member] | Real Estate [Member]
Total	171,658	170,436
Commercial [Member] | Real Estate [Member] | Pass [Member]
Total	164,357	165,570
Commercial [Member] | Real Estate [Member] | Special Mention [Member]
Total	4,562	3,265
Commercial [Member] | Real Estate [Member] | Substandard [Member]
Total	2,739	1,601
Commercial [Member] | Real Estate [Member] | Doubtful [Member]
Total
Construction and Land Development [Member] | Real Estate [Member]
Total	30,841	31,130
Construction and Land Development [Member] | Real Estate [Member] | Pass [Member]
Total	30,446	30,747
Construction and Land Development [Member] | Real Estate [Member] | Special Mention [Member]
Total	326	360
Construction and Land Development [Member] | Real Estate [Member] | Substandard [Member]
Total	69	23
Construction and Land Development [Member] | Real Estate [Member] | Doubtful [Member]
Total
Residential 1-4 Family [Member] | Real Estate [Member]
Total	240,328	242,922
Residential 1-4 Family [Member] | Real Estate [Member] | Pass [Member]
Total	235,504	239,210
Residential 1-4 Family [Member] | Real Estate [Member] | Special Mention [Member]
Total	1,622	1,207
Residential 1-4 Family [Member] | Real Estate [Member] | Substandard [Member]
Total	3,202	2,505
Residential 1-4 Family [Member] | Real Estate [Member] | Doubtful [Member]
Total
Multifamily [Member] | Real Estate [Member]
Total	14,039	13,638
Multifamily [Member] | Real Estate [Member] | Pass [Member]
Total	13,797	13,638
Multifamily [Member] | Real Estate [Member] | Special Mention [Member]
Total	242
Multifamily [Member] | Real Estate [Member] | Substandard [Member]
Total
Multifamily [Member] | Real Estate [Member] | Doubtful [Member]
Total
Farmland [Member] | Real Estate [Member]
Total	20,363	20,790
Farmland [Member] | Real Estate [Member] | Pass [Member]
Total	18,583	18,779
Farmland [Member] | Real Estate [Member] | Special Mention [Member]
Total	1,427	1,480
Farmland [Member] | Real Estate [Member] | Substandard [Member]
Total	353	531
Farmland [Member] | Real Estate [Member] | Doubtful [Member]
Total
Agriculture [Member]
Total	5,241	4,797
Agriculture [Member] | Pass [Member]
Total	5,204	4,753
Agriculture [Member] | Special Mention [Member]
Total		4
Agriculture [Member] | Substandard [Member]
Total	37	40
Agriculture [Member] | Doubtful [Member]
Total
Consumer Installment Loans [Member]
Total	22,592	23,127
Consumer Installment Loans [Member] | Pass [Member]
Total	22,560	23,087
Consumer Installment Loans [Member] | Special Mention [Member]
Total	13	12
Consumer Installment Loans [Member] | Substandard [Member]
Total	19	28
Consumer Installment Loans [Member] | Doubtful [Member]
Total
Other Loans [Member]
Total	1,816	1,710
Other Loans [Member] | Pass [Member]
Total	1,816	1,710
Other Loans [Member] | Special Mention [Member]
Total
Other Loans [Member] | Substandard [Member]
Total
Other Loans [Member] | Doubtful [Member]
Total

ALLOWANCE FOR LOAN LOSSES (Deta

ALLOWANCE FOR LOAN LOSSES (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Balance, beginning of year	$ 5,368	$ 5,336	$ 5,336
Charge Offs	(110)		(2,454)
Recoveries	79		436
Provision for loan losses	1,000	135	2,050
Balance, End of period	6,337		5,368
Real Estate [Member]
Balance, beginning of year	3,355	4,401	4,401
Charge Offs	(64)		(561)
Recoveries	43		311
Provision for loan losses	915		(796)
Balance, End of period	4,249		3,355
Commercial [Member]
Balance, beginning of year	1,789	448	448
Charge Offs	(13)		(1,762)
Recoveries	29		61
Provision for loan losses	51		3,042
Balance, End of period	1,856		1,789
Commercial [Member] | Real Estate [Member]
Balance, beginning of year	1,248	1,386	1,386
Charge Offs	(22)		(192)
Recoveries	2		16
Provision for loan losses	452		38
Balance, End of period	1,680		1,248
Construction and Land Development [Member] | Real Estate [Member]
Balance, beginning of year	158	202	202
Charge Offs
Recoveries			34
Provision for loan losses	56		(78)
Balance, End of period	214		158
Residential 1-4 Family [Member] | Real Estate [Member]
Balance, beginning of year	1,736	2,437	2,437
Charge Offs			(336)
Recoveries	8		202
Provision for loan losses	333		(567)
Balance, End of period	2,077		1,736
Multifamily [Member] | Real Estate [Member]
Balance, beginning of year	104	89	89
Charge Offs
Recoveries			30
Provision for loan losses	28		(15)
Balance, End of period	132		104
Farmland [Member] | Real Estate [Member]
Balance, beginning of year	109	287	287
Charge Offs	(42)		(33)
Recoveries	33		29
Provision for loan losses	46		(174)
Balance, End of period	146		109
Agriculture [Member]
Balance, beginning of year	27	37	37
Charge Offs			(17)
Recoveries	1		2
Provision for loan losses	11		5
Balance, End of period	39		27
Consumer Installment Loans [Member]
Balance, beginning of year	188	172	172
Charge Offs	(33)		(114)
Recoveries	6		62
Provision for loan losses	22		68
Balance, End of period	183		188
Other Loans [Member]
Balance, beginning of year	7	3	3
Charge Offs
Recoveries
Provision for loan losses	3		4
Balance, End of period	10		7
Unallocated [Member]
Balance, beginning of year	2	$ 275	275
Charge Offs
Recoveries
Provision for loan losses	(2)		(273)
Balance, End of period			$ 2

ALLOWANCE FOR LOAN LOSSES (De_2

ALLOWANCE FOR LOAN LOSSES (Details 1) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Allowance for loan losses, individually evaluated for impairment	$ 457	$ 323
Allowance for loan losses, collectively evaluated for impairment	5,880	5,045
Allowance for loan losses, total	6,337	5,368	$ 5,336
Recorded investment in loans, individually evaluated for impairment	5,563	5,575
Recorded investment in loans, collectively evaluated for impairment	554,905	556,969
Recorded investment in loans, total	560,468	562,544
Real Estate [Member]
Allowance for loan losses, individually evaluated for impairment	257	123
Allowance for loan losses, collectively evaluated for impairment	3,992	3,232
Allowance for loan losses, total	4,249
Recorded investment in loans, individually evaluated for impairment	5,176	5,161
Recorded investment in loans, collectively evaluated for impairment	472,053	473,755
Recorded investment in loans, total	477,229	478,916
Commercial [Member]
Allowance for loan losses, individually evaluated for impairment	200	200
Allowance for loan losses, collectively evaluated for impairment	1,656	1,589
Allowance for loan losses, total	1,856	1,789
Recorded investment in loans, individually evaluated for impairment	387	414
Recorded investment in loans, collectively evaluated for impairment	53,203	53,580
Recorded investment in loans, total	53,590	53,994
Commercial [Member] | Real Estate [Member]
Allowance for loan losses, individually evaluated for impairment	210	70
Allowance for loan losses, collectively evaluated for impairment	1,470	1,178
Allowance for loan losses, total	1,680	1,248
Recorded investment in loans, individually evaluated for impairment	2,756	2,779
Recorded investment in loans, collectively evaluated for impairment	168,902	167,657
Recorded investment in loans, total	171,658	170,436
Construction and Land Development [Member] | Real Estate [Member]
Allowance for loan losses, individually evaluated for impairment
Allowance for loan losses, collectively evaluated for impairment	214	158
Allowance for loan losses, total	214	158
Recorded investment in loans, individually evaluated for impairment	63	70
Recorded investment in loans, collectively evaluated for impairment	30,778	31,060
Recorded investment in loans, total	30,841	31,130
Residential 1-4 Family [Member] | Real Estate [Member]
Allowance for loan losses, individually evaluated for impairment	39	44
Allowance for loan losses, collectively evaluated for impairment	2,038	1,692
Allowance for loan losses, total	2,077	1,736
Recorded investment in loans, individually evaluated for impairment	1,398	1,318
Recorded investment in loans, collectively evaluated for impairment	238,930	241,604
Recorded investment in loans, total	240,328	242,922
Multifamily [Member] | Real Estate [Member]
Allowance for loan losses, individually evaluated for impairment
Allowance for loan losses, collectively evaluated for impairment	132	104
Allowance for loan losses, total	132	104
Recorded investment in loans, individually evaluated for impairment
Recorded investment in loans, collectively evaluated for impairment	14,039	13,638
Recorded investment in loans, total	14,039	13,638
Farmland [Member] | Real Estate [Member]
Allowance for loan losses, individually evaluated for impairment	8	9
Allowance for loan losses, collectively evaluated for impairment	138	100
Allowance for loan losses, total	146	109
Recorded investment in loans, individually evaluated for impairment	959	994
Recorded investment in loans, collectively evaluated for impairment	19,404	19,796
Recorded investment in loans, total	20,363	20,790
Agriculture [Member]
Allowance for loan losses, individually evaluated for impairment
Allowance for loan losses, collectively evaluated for impairment	39	27
Allowance for loan losses, total	39	27	37
Recorded investment in loans, individually evaluated for impairment
Recorded investment in loans, collectively evaluated for impairment	5,241	4,797
Recorded investment in loans, total	5,241	4,797
Consumer Installment Loans [Member]
Allowance for loan losses, individually evaluated for impairment
Allowance for loan losses, collectively evaluated for impairment	183	188
Allowance for loan losses, total	183	188	172
Recorded investment in loans, individually evaluated for impairment
Recorded investment in loans, collectively evaluated for impairment	22,592	23,127
Recorded investment in loans, total	22,592	23,127
Other Loans [Member]
Allowance for loan losses, individually evaluated for impairment
Allowance for loan losses, collectively evaluated for impairment	10	7
Allowance for loan losses, total	10	7	3
Recorded investment in loans, individually evaluated for impairment
Recorded investment in loans, collectively evaluated for impairment	1,816	1,710
Recorded investment in loans, total	1,816	1,710
Unallocated [Member]
Allowance for loan losses, individually evaluated for impairment
Allowance for loan losses, collectively evaluated for impairment		2
Allowance for loan losses, total		2	$ 275
Recorded investment in loans, individually evaluated for impairment
Recorded investment in loans, collectively evaluated for impairment
Recorded investment in loans, total

OTHER REAL ESTATE OWNED (Detail

OTHER REAL ESTATE OWNED (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Real Estate [Abstract]
Balance, beginning of year	$ 3,393	$ 5,937
Additions	252	811
Transfers from premises and equipment		683
Proceeds from sales	(118)	(1,322)
Proceeds from insurance claims		(19)
Loans made to finance sales	(428)	(2,360)
Adjustment of carrying value	(87)	(214)
Gains (losses) from sales	58	(123)
Balance, end of year	$ 3,070	$ 3,393

FAIR VALUES (Details)

FAIR VALUES (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Fair Value, Inputs, Level 2 [Member]
Available for sale investments	$ 47,741	$ 50,649
Fair Value, Inputs, Level 3 [Member]
Available for sale investments	8,176	8,645
Other real estate owned	3,070	3,393
Impaired loans	5,106	8,645
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | U.S. Government Agencies [Member]
Available for sale investments	14,772	15,633
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Taxable Municipals
Available for sale investments	4,456	4,442
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Bonds
Available for sale investments	5,542	5,523
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage Backed Securities [Member]
Available for sale investments	$ 22,971	$ 25,051

FAIR VALUES (Details 1)

FAIR VALUES (Details 1) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Impaired Loans
Fair Value	$ 5,106	$ 5,252
Valuation Technique	Appraised Value/Discounted Cash Flows/Market Value of Note
Significant Unobservable Inputs	Discounts to reflect current market conditions, ultimate collectability, and estimated costs to sell
Other Real Estate Owned
Fair Value	$ 3,070	$ 3,393
Valuation Technique	Appraised Value/Comparable Sales/Other Estimates from Independent Sources
Significant Unobservable Inputs	Discounts to reflect current market conditions and estimated costs to sell
Minimum [Member] | Impaired Loans
General Range of Significant Unobservable Input Values	0.00%
Minimum [Member] | Other Real Estate Owned
General Range of Significant Unobservable Input Values	0.00%
Maximum [Member] | Impaired Loans
General Range of Significant Unobservable Input Values	18.00%
Maximum [Member] | Other Real Estate Owned
General Range of Significant Unobservable Input Values	18.00%

FAIR VALUES (Details 2)

FAIR VALUES (Details 2) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Net Loans	$ 554,131	$ 557,176
Fair Value, Inputs, Level 2 [Member]
Net Loans	545,826	545,243
Time deposits	262,228	259,325
FHLB advances	4,972	5,054
Fair Value, Inputs, Level 3 [Member]
Net Loans	5,106	5,252
Time deposits
FHLB advances
Reported Value Measurement [Member]
Net Loans	554,131	557,176
Time deposits	260,111	257,406
FHLB advances	5,000	5,000
Estimate of Fair Value Measurement [Member]
Net Loans	550,932	550,495
Time deposits	262,228	259,325
FHLB advances	$ 4,972	$ 5,054

LEASING ACTIVITIES (Details)

LEASING ACTIVITIES (Details) $ in Thousands	Mar. 31, 2020USD ($)
Leases [Abstract]
2020	$ 424
2021	511
2022	530
2023	544
2024	546
Thereafter	4,416
Total lease payments	6,971
Less imputed interest	1,234
Total	$ 5,737

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Service charges and fees	$ 851	$ 841
Card Processing and interchange income	753	679
Gain on sale and leaseback transactions	4
Insurance and investment fees	132	161
Other noninterest income	425	96
Total Noninterest Income	$ 2,165	$ 1,777

NONINTEREST EXPENSES (Details)

NONINTEREST EXPENSES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Noninterest Expenses
Advertising	$ 65	$ 66
ATM network expense	392	444
Legal and professional fees	557	282
Loan related expenses	107	121
Printing and supplies	37	39
FDIC insurance premiums	93	108
Other real estate owned expenses, net	63	193
Other operating expenses	703	525
Total	$ 2,017	$ 1,778