Select Bancorp (SLCT) 10-K 11 Mar 20 2019 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Mar. 06, 2020	Jun. 30, 2019
Document And Entity Information
Document Type	10-K
Document Period End Date	Dec. 31, 2019
Entity Registrant Name	SELECT BANCORP, INC.
Entity Current Reporting Status	Yes
Trading Symbol	SLCT
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		18,239,614
Entity Central Index Key	0001263762
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Public Float			$ 187,956,020

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Cash and due from banks	$ 19,110	$ 17,059
Interest-earning deposits in other banks	50,920	121,303
Certificates of deposit	0	1,000
Federal funds sold	9,047	0
Investment securities available for sale, at fair value	72,367	51,533
Loans held for sale	928	580
Loans	1,029,975	986,040
Allowance for loan losses	(8,324)	(8,669)
NET LOANS	1,021,651	977,371
Accrued interest receivable	4,189	3,889
Stock in Federal Home Loan Bank of Atlanta ("FHLB"), at cost	3,045	3,283
Other non-marketable securities	719	762
Foreclosed real estate	3,533	1,088
Premises and equipment, net	17,791	17,920
Right of use lease asset	8,596	0
Bank owned life insurance	29,789	29,117
Goodwill	24,579	24,579
Core deposit intangible ("CDI")	1,610	2,085
Assets held for sale	0	668
Other assets	7,202	6,288
TOTAL ASSETS	1,275,076	1,258,525
Deposits:
Demand	240,305	247,007
Savings	43,128	51,811
Money market and NOW	280,145	254,482
Time	429,260	427,127
TOTAL DEPOSITS	992,838	980,427
Short-term debt	0	7,000
Long-term debt	57,372	57,372
Lease liability	8,813	0
Accrued interest payable	578	667
Accrued expenses and other liabilities	2,700	3,448
TOTAL LIABILITIES	1,062,301	1,048,914
Shareholders' Equity:
Preferred stock, no par value, 5,000,000 shares authorized; no preferred shares were issued and outstanding	0	0
Common stock, $1 par value, 50,000,000 shares authorized; 18,330,058 and 19,311,505 shares issued and outstanding at December 31, 2019 and 2018 respectively	18,330	19,312
Additional paid-in capital	140,870	150,718
Retained earnings	52,675	39,640
Common stock issued to deferred compensation trust, at cost; 319,753 and 303,239 shares outstanding at December 31, 2019 and 2018 respectively	(2,815)	(2,615)
Directors' Deferred Compensation Plan Rabbi Trust	2,815	2,615
Accumulated other comprehensive income (loss)	900	(59)
TOTAL SHAREHOLDERS' EQUITY	212,775	209,611
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,275,076	$ 1,258,525

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	18,330,058	19,311,505
Common stock, shares outstanding	18,330,058	19,311,505
Deferred Comp Plan
Common stock, shares outstanding	319,753	303,239

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
INTEREST INCOME
Loans	$ 54,605	$ 53,796	$ 37,849
Federal funds sold and interest-earning deposits in other banks	1,838	1,618	480
Investments	2,003	1,421	1,288
TOTAL INTEREST INCOME	58,446	56,835	39,617
INTEREST EXPENSE
Money market, NOW and savings deposits	1,616	1,339	547
Time deposits	8,061	6,293	3,779
Short-term debt	62	328	357
Long-term debt	1,817	1,490	423
TOTAL INTEREST EXPENSE	11,556	9,450	5,106
NET INTEREST INCOME	46,890	47,385	34,511
PROVISION FOR (RECOVERY OF) LOAN LOSSES	438	(156)	1,367
NET INTEREST INCOME AFTER PROVISION FOR (RECOVERY OF) LOAN LOSSES	46,452	47,541	33,144
NON-INTEREST INCOME
Gain on the sale of securities	48	0	1
Service charges on deposit accounts	1,161	1,124	899
Fees on the sale of mortgages	753	497	0
Other fees and income	3,457	3,080	2,172
TOTAL NON-INTEREST INCOME	5,419	4,701	3,072
NON-INTEREST EXPENSE
Personnel	20,278	18,304	14,552
Occupancy and equipment	3,695	3,666	2,192
Deposit insurance	184	628	357
Professional fees	1,886	1,394	1,181
Core deposit intangible amortization	825	1,016	409
Merger/acquisition related expenses	406	1,826	2,166
Information systems	3,492	3,372	2,257
Foreclosure-related expenses	140	115	562
Other	4,234	4,229	3,643
TOTAL NON-INTEREST EXPENSE	35,140	34,550	27,319
INCOME BEFORE INCOME TAX	16,731	17,692	8,897
INCOME TAXES	3,696	3,910	5,712
NET INCOME	$ 13,035	$ 13,782	$ 3,185
NET INCOME PER COMMON SHARE
Basic	$ 0.69	$ 0.87	$ 0.27
Diluted	$ 0.68	$ 0.87	$ 0.27
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic	19,016,808	15,812,585	11,763,050
Diluted	19,063,237	15,877,633	11,826,977

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 13,035	$ 13,782	$ 3,185
Other comprehensive income (loss):
Unrealized gain (losses) on investment securities-available for sale	1,294	(596)	(41)
Tax effect	(298)	139	82
Unrealized gain (loss) on investment securities available for sale, net	996	(457)	41
Reclassification adjustment for (gains) losses included in net income	(48)	0	(1)
Tax effect	11	0	0
Reclassification adjustment for gain included in net income	(37)	0	(1)
Total	959	(457)	40
Total comprehensive income	$ 13,994	$ 13,325	$ 3,225

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Preferred Stock	Common Stock	Additional paid-in Capital	Retained Earnings	Deferred Comp Plan	Common Stock Issued to Deferred Compensation Trust	Accumulated Other Comprehensive Income (loss)	Total
Balance at Dec. 31, 2016	$ 0	$ 11,645	$ 69,597	$ 22,673	$ 2,340	$ (2,340)	$ 358	$ 104,273
Balance (in shares) at Dec. 31, 2016	0	11,645,413
Net income	$ 0	$ 0	0	3,185	0	0	0	3,185
Other comprehensive income (loss)	0	0	0	0	0	0	40	40
Shares issued for Premara merger	$ 0	$ 2,335	26,001	0	0	0	0	28,336
Shares issued for Premara merger (in shares)	0	2,334,999
Stock option exercises	$ 0	$ 29	137	0	0	0	0	166
Stock option exercises (in shares)	0	28,725
Director equity incentive plan, net	$ 0	$ 0	0	0	178	(178)	0	0
Stock-based compensation	0	0	115	0	0	0	0	115
Balance at Dec. 31, 2017	$ 0	$ 14,009	95,850	25,858	2,518	(2,518)	398	136,115
Balance (in shares) at Dec. 31, 2017	0	14,009,137
Net income	$ 0	$ 0	0	13,782	0	0	0	13,782
Other comprehensive income (loss)	0	0	0	0	0	0	(457)	(457)
Shares issued for capital raise, net	$ 0	$ 5,271	54,535	0	0	0	0	59,806
Shares issued for capital raise, net (in shares)	0	5,270,834
Stock option exercises	$ 0	$ 32	155	0	0	0	0	187
Stock option exercises (in shares)	0	31,534
Director equity incentive plan, net	$ 0	$ 0	0	0	97	(97)	0	0
Stock-based compensation	0	0	178	0	0	0	0	178
Balance at Dec. 31, 2018								209,611
Balance at Dec. 31, 2018	$ 0	$ 19,312	150,718	39,640	2,615	(2,615)	(59)	209,611
Balance (in shares) at Dec. 31, 2018	0	19,311,505
Net income	$ 0	$ 0	0	13,035	0	0	0	13,035
Other comprehensive income (loss)	0	0	0	0	0	0	959	959
Stock repurchases	$ 0	$ (1,008)	(10,419)	0	0	0	0	(11,427)
Stock repurchases ( in shares)	0	(1,008,260)
Stock option exercises	$ 0	$ 26	202	0	0	0	0	$ 228
Stock option exercises (in shares)	0	26,813						26,813
Director equity incentive plan, net	$ 0	$ 0	0	0	200	(200)	0	$ 0
Stock-based compensation	0	0	369	0	0	0	0	369
Balance at Dec. 31, 2019								212,775
Balance at Dec. 31, 2019	$ 0	$ 18,330	$ 140,870	$ 52,675	$ 2,815	$ (2,815)	$ 900	$ 212,775
Balance (in shares) at Dec. 31, 2019	0	18,330,058

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 13,035	$ 13,782	$ 3,185
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for (recovery of) loan losses	438	(156)	1,367
Depreciation and amortization of premises and equipment	1,790	1,738	1,144
Amortization and accretion of investment securities	767	560	556
Amortization of right of use asset	990	0	0
Amortization of deferred loan fees and costs	(844)	(744)	(602)
Amortization of core deposit intangible	825	1,016	409
Amortization of acquisition premium on time deposits	(14)	(178)	(292)
Amortization of acquisition premium on borrowings	0	(12)	(89)
Deferred income taxes	585	1,061	2,325
Stock-based compensation	369	178	115
Accretion on acquired loans	(904)	(3,051)	(1,061)
Proceeds from loans held for sale	34,578	22,726	0
Originations of loans held for sale	(34,173)	(22,711)	(98)
Gain on loans held for sale	(753)	(497)	0
Gain on the sale of securities	(48)	0	(1)
Increase in cash surrender value of bank-owned life insurance	(672)	(686)	(575)
Loss (gain) on sale of premises and equipment	60	62	(5)
Loss on assets held for sale	8	178	0
Net loss on sale and write-downs of foreclosed real estate	49	71	442
Change in assets and liabilities:
Net change in accrued interest receivable	(300)	108	(432)
Net change in other assets	(1,708)	2,578	526
Net change in accrued expenses and other liabilities	(719)	(11,210)	(356)
NET CASH (USED) PROVIDED BY OPERATING ACTIVITIES	13,359	4,813	6,558
CASH FLOWS FROM INVESTING ACTIVITIES
Redemption (purchase) of FHLB stock	238	(793)	1,265
Purchase of investment securities available for sale	(38,698)	0	(1,523)
Maturities of investment securities available for sale	3,383	1,400	4,255
Mortgage-backed securities pay-downs	13,805	9,685	6,015
Proceeds from sale of investment securities available for sale	1,125	0	21,972
Cash received from branch acquisition	24,093	0	28,513
Net change in loans outstanding	(45,584)	(247)	(108,814)
Proceeds from sale of foreclosed real estate	120	717	1,442
Net change in other non-marketable securities	43	257	73
Proceeds from sale of premises and equipment	68	104	9
Proceeds from sale of assets held for sale	660	0	0
Purchases of premises and equipment	(1,381)	(1,556)	(931)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	(42,128)	9,567	(47,724)
CASH FLOWS FROM FINANCING ACTIVITIES
Net change in deposits	(12,614)	(14,439)	89,356
Proceeds from long-term debt	0	38,000	0
Repayments on short-term debt	(7,000)	(21,267)	(26,722)
Repayments of long-term debt	0	0	(14,653)
Repayment in lease liability	(703)	0	0
Proceeds from issuance of common stock	0	63,250	0
Direct expenses related to capital transactions	0	(3,444)	0
Repurchase common stock	(11,427)	0	0
Proceeds from stock options exercised	228	187	166
NET CASH (USED) PROVIDED BY FINANCING ACTIVITIES	(31,516)	62,287	48,147
CASH AND CASH EQUIVALENTS, BEGINNING	139,362	62,695
CASH AND CASH EQUIVALENTS, ENDING	79,077	139,362	62,695
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Interest	11,645	9,210	4,900
Income Taxes	2,553	2,277	3,471
Non-cash transactions:
Unrealized (losses) gains on investment securities available for sale, net of tax	959	(457)	(40)
Transfers from loans to foreclosed real estate	2,614	618	2,543
Acquisition:
Assets acquired (excluding goodwill)	26,258	0	279,142
Liabilities assumed	25,776	0	256,422
Purchase price	482	0	40,693
Goodwill recorded	$ 0	$ 0	$ 17,973

ORGANIZATION AND OPERATIONS

ORGANIZATION AND OPERATIONS	12 Months Ended
	Dec. 31, 2019
ORGANIZATION AND OPERATIONS
ORGANIZATION AND OPERATIONS	NOTE A - ORGANIZATION AND OPERATIONS Select Bancorp, Inc. (“Company”) is a bank holding company whose principal business activity consists of ownership of Select Bank & Trust Company (referred to as the “Bank”). All significant intercompany transactions and balances have been eliminated in consolidation. In 2004, the Company formed New Century Statutory Trust I, which issued trust preferred securities to provide additional capital for general corporate purposes, including the current and future expansion of the Company. New Century Statutory Trust I is not a consolidated subsidiary of the Company. The Company is subject to the rules and regulations of the Board of Governors of the Federal Reserve (the “Federal Reserve”) and the North Carolina Commissioner of Banks. The Bank was originally incorporated as New Century Bank on May 19, 2000 and began banking operations on May 24, 2000. On July 25, 2014, the Company acquired Select Bank & Trust Company, Greenville, North Carolina, and changed the Bank’s legal name to Select Bank & Trust Company. On December 15, 2017, the Company acquired Premara Financial, Inc. and its subsidiary Carolina Premier Bank through the merger of Premara with and into the Company, followed immediately by the merger of Carolina Premier with and into the Bank. The Bank continues as the only banking subsidiary of the Company with its headquarters and operations center located in Dunn, NC. The Bank is engaged in general commercial and retail banking in central and eastern North Carolina, as well as now in Charlotte, North Carolina, southeastern Virginia and northwest South Carolina. The Bank is subject to the supervision and regulation of the Federal Deposit Insurance Corporation and the North Carolina Commissioner of Banks. Reclassification Certain items for prior years have been reclassified to conform to the current year presentation. Such reclassifications had no effect on net income, total assets or shareholders’ equity as previously reported.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the 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. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, business combinations, goodwill, deferred tax assets and the valuation of other real estate owned. Business Combinations Business combinations are accounted for under the acquisition method of accounting in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 805, “Business Combinations .” Under the acquisition method, the acquiring entity in a business combination recognizes all of the acquired assets and assumed liabilities at their estimated fair values as of the date of acquisition. Any excess of the purchase price over the fair value of net assets and other identifiable intangible assets acquired is recorded as goodwill. To the extent the fair value of net assets acquired, including identified intangible assets, exceeds the purchase price, a bargain purchase gain is recognized. Assets acquired and liabilities assumed from contingencies must also be recognized at fair value if the fair value can be determined during the measurement period. Results of operations of an acquired business are included in the Statement of Operations from the date of acquisition. Acquisition-related costs, including conversion and restructuring charges, are expensed as incurred. The acquired assets and assumed liabilities are recorded at estimated fair values. Management makes significant estimates and exercises significant judgment in accounting for business combinations. Management uses its judgment to assign risk ratings to loans based on credit quality, appraisals and estimated collateral values, and estimated expected cash flows to measure fair values for loans. Real estate acquired in settlement of loans is valued based upon pending sales contracts and appraised values, adjusted for current market conditions. Core deposit intangibles are valued based on a weighted combination of the income and market approach where the income approach converts anticipated economic benefits to a present value and the market approach evaluates the market in which the asset is traded to find an indication of prices from actual transactions. Management uses quoted or current market prices to determine the fair value of investment securities. Fair values of deposits and borrowings are based on current market interest rates and are inclusive of any applicable prepayment penalties. Cash and Due from Banks, Interest-Earning Deposits in Other Banks and Federal Funds Sold For the purpose of presentation in the statements of cash flows, cash and cash equivalents are defined as those amounts included in the balance sheet captions “Cash and due from banks,” “Interest-earning deposits in other banks,” “Certificates of deposit” and “Federal funds sold.” Certificates of Deposit Certificates of deposit are cash instruments that management has the intent and ability to hold for the foreseeable future or until maturity and are reported at cost. Investment Securities Available for Sale Investment securities available for sale are reported at fair value and consist of debt instruments that are not classified as either trading securities or as held to maturity securities. Unrealized holding gains and losses, net of deferred income tax, on available for sale securities are reported as a net amount in accumulated other comprehensive income. Gains and losses on the sale of investment securities available for sale are determined using the specific-identification method. Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity are reported at their outstanding principal balance adjusted for any charge-offs, the allowance for loan losses, and any deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. Loan origination fees and certain direct origination costs are capitalized and recognized as an adjustment of the yield of the related loan. The accrual of interest on impaired loans is discontinued when, in management’s opinion, the borrower may be unable to meet payment obligations as they become due. When interest accrual is discontinued, all unpaid accrued interest is reversed. Interest income is subsequently recognized only to the extent cash payments are received in excess of principal due. Loans are returned to accrual status when all of the principal and interest amounts contractually due are brought current and future payments are reasonably assured. The acquired loans are segregated between those considered to be performing (“acquired performing”) and those with evidence of credit deterioration based on such factors as past due status, nonaccrual status and credit risk ratings (“purchased credit-impaired loans”). In determining the acquisition date fair value of purchased credit-impaired (“PCI”) loans, and in subsequent accounting, the Company generally aggregates purchased loans into pools of loans with common risk characteristics within the following loan categories: 1‑to‑4 family residential loans other than junior liens, 1‑to‑4 family residential junior liens, construction and land development, farm land, commercial real estate (nonowner-occupied), commercial real estate (owner-occupied), commercial and industrial, and all other loan categories. Expected cash flows at the acquisition date in excess of the fair value of loans are referred to as the “accretable yield” and recorded as interest income over the life of the loans using a level yield method if the timing and amount of the future cash flows of the pool is reasonably estimable. Subsequent to the acquisition date, significant increases in cash flows over those expected at the acquisition date are recognized as interest income prospectively. Accordingly, such loans are not classified as nonaccrual and they are considered to be accruing because their interest income relates to the accretable yield recognized under accounting for PCI loans and not to contractual interest payments. The difference between the contractually required payments and the cash flows expected to be collected at acquisition, considering the impact of prepayments, is referred to as the nonaccretable difference. The difference between the fair value of an acquired performing loan pool and the contractual amounts due at the acquisition date (the “fair value discount”) is accreted into income over the estimated life of the pool. The Company’s policy for determining when to discontinue accruing interest on acquired performing loans and the subsequent accounting for such loans is essentially the same as the policy for originated loans described earlier. Loans are deemed uncollectible based on a variety of credit, collateral, documentation and other issues. In the case where a loan is unsecured and in default, it is fully charged off. Non-accrual Loans Loans are placed on non-accrual when it has been determined that all contractual principal and interest will not be received. Any payments received on these loans are applied to principal first and then to interest only after all principal has been collected. Impaired loans include all loans in non-accrual status, all troubled debt restructures, all substandard loans that are deemed to be collateral dependent, and other loans that management determines require impairment. In the case of an impaired loan that is still on accrual basis, payments are applied to both principal and interest. Allowance for Loan Losses The provision for loan losses is based upon management’s estimate of the amount needed to maintain the allowance for loan losses at an adequate level in light of the risk inherent in the loan portfolio. In making the evaluation of the adequacy of the allowance for loan losses, management gives consideration to current economic conditions, statutory examinations of the loan portfolio by regulatory agencies, delinquency information and management’s internal review of the loan portfolio. Loans are considered impaired when it is probable that all amounts due will not be collected in accordance with the contractual terms of the loan agreement. The measurement of impaired loans is generally based on the present value of expected future cash flows discounted at the historical effective interest rate, or upon the fair value of the collateral if the loan is collateral-dependent. If the recorded investment in the loan exceeds the measure of fair value, a valuation allowance is established as a component of the allowance for loan losses. Interest payments on impaired loans are typically applied to principal unless collectability of the principal amount is reasonably assured, in which case, interest is recognized on a cash basis. Impaired loans, or portions thereof, are charged off when deemed uncollectible. While management uses the best information available to make evaluations, future adjustments to the allowance may be necessary if conditions differ substantially from the assumptions used in making the evaluations. In addition, regulatory examiners may require the Company to recognize adjustments to the allowance for loan losses based on their judgments about information available to them at the time of their examination. Decreases in expected cash flows of PCI loans after the acquisition date are recognized by recording an allowance for credit loss. For any significant increases in cash flows expected to be collected, the Company first adjusts any prior recorded allowance for loan and lease losses through a reversal of previously recognized allowance through provision expense, and then increases the amount of accretable yield to be recognized on a prospective basis over the pool’s remaining life. Management analyzes these acquired loan pools using various assessments of risk to determine and calculate an expected loss. The expected loss is derived using an estimate of a loss given default based upon the collateral type and/or specific review by loan officers. Trends are reviewed in terms of traditional credit metrics such as accrual status, past due status, and weighted average risk grade of the loans within each of the accounting pools. In addition, the relationship between the change in the unpaid principal balance and change in the fair value mark is assessed to correlate the directional consistency of the expected loss for each pool. Loans Held for Sale Mortgage loans originated and intended for sale in the secondary market are classified as held for sale and are carried at the lower of cost or fair value. Upon closing, these loans are sold to mortgage loan investors under pre-arranged terms. Origination fees are recognized upon the sale and are included in non-interest income. Related to the mortgage business, the Company enters into interest rate lock commitments and commitments to sell mortgages to investors. Interest rate lock commitments are used to manage interest rate risk associated with the fixed rate loan commitments, and forward sale commitments are entered into with investors to manage the interest rate risk associated with the customer interest rate lock commitments, both of which are considered derivative financial instruments. The period of time between the issuance of a loan commitment and the closing and sale of the loan generally ranges from 10 to 60 days. Interest rate lock commitments and forward sale commitments are derivative instruments and are carried at fair value. These derivative instruments do not qualify for hedge accounting. The fair value of interest rate lock commitments is based on current secondary market pricing and has been determined to be immaterial. The fair value of the forward sale commitments is based on changes in the value of the commitment, principally because of changes in interest rates, and is included on the consolidated balance sheets in other assets or other liabilities. Changes in fair value for these instruments are reflected in non-interest income on the income statement. Gains and losses from sales of the mortgage loans are recognized when the Company ultimately sells the loans, and such gains and losses are also recorded in non-interest income. The Company does not retain servicing rights of the loans sold and has not included any servicing assets in other assets or recorded any expenses or revenue. Stock in Federal Home Loan Bank of Atlanta As a requirement for membership, the Bank invests in stock of the Federal Home Loan Bank of Atlanta (“FHLB”). This investment was carried at cost at December 31, 2019 and 2018. The Company continually monitors the financial strength of the FHLB and evaluates the investment for potential impairment. There can be no assurance that the impact of recent or future legislation on the Federal Home Loan Banks will not cause a decrease in the value of the Bank’s investment in FHLB stock. Other Non-Marketable Securities Other non-marketable securities are equity instruments that are reported at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer. Foreclosed Real Estate Real estate acquired through, or in lieu of, loan foreclosure is recorded at fair value, less the estimated cost to sell, at the date of foreclosure. At foreclosure, any excess of the loan balance over the fair value of the property is charged to the allowance for loan losses. After foreclosure, management periodically performs valuations of the property and adjusts the value down when the carrying value of the property exceeds the estimated net realizable value. Revenue and expenses from operations and changes in the valuation allowance are included in foreclosure-related expense. Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation. Depreciation is calculated on the straight-line method over the estimated useful lives of the assets. Estimated useful lives are 40 years for buildings and 3 to 10 years for furniture, fixtures and equipment. Leasehold improvements are amortized over the terms of the respective leases or the estimated useful lives of the improvements, whichever is shorter. Repairs and maintenance costs are charged to operations as incurred and additions and improvements to premises and equipment are capitalized. Upon sale or retirement, the cost and related accumulated depreciation are removed from the accounts and any gains or losses are reflected in current operations. Income Taxes Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the tax basis of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred tax assets are also recognized for operating loss carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that the tax benefits will not be realized. Public law No. 115‑97, known as the Tax Cuts and Jobs Act (the "Act"), enacted on December 22, 2017, reduced the U.S. federal corporate tax rate from 35% to 21%. Also on December 22, 2017, the Securities and Exchange Commission issued Staff Accounting Bulletin No. 118 (SAB 118), which provides guidance on accounting for tax effects of the Act. SAB 118 provides a measurement period of up to one year from the enactment date to complete the accounting. Any adjustments during this measurement period will be included in net earnings from continuing operations as an adjustment to income tax expense in the reporting period when such adjustments are determined. Based on the information available and current interpretation of the rules, the Company has made estimates of the impact of the reduction in the corporate tax rate and re-measurement of certain deferred tax assets and liabilities. The provisional amount recorded related to the re-measurement of the Company’s deferred tax balance was $2.6 million for 2017. The measurement period expired prior to December 31, 2018. No additional amount related to the re-measurement of the Company’s deferred tax balance was recorded prior to the expiration of the measurement period. See Note L Income Taxes for more information. Bank Owned Life Insurance Bank Owned Life Insurance ("BOLI") is carried at its cash surrender value on the balance sheet and is classified as a non-interest-earning asset. Death benefit proceeds received in excess of the policy’s cash surrender value are recognized to income. Returns on the BOLI assets are added to the carrying value and included as non-interest income in the consolidated statement of operations. Any receipt of benefit proceeds is recorded as a reduction to the carrying value of the BOLI asset. At December 31, 2019 and 2018, the Company held no loans against its BOLI cash surrender values. Goodwill Goodwill represents the cost in excess of the fair value of net assets acquired (including identifiable intangibles) in transactions accounted for as business combinations. Goodwill has an indefinite useful life and is evaluated for impairment annually, or more frequently if events and circumstances indicate that the asset might be impaired. An impairment loss is recognized to the extent that the carrying amount exceeds the asset’s fair value. For the 2019 assessment, we performed a qualitative assessment to determine if it was more likely than not that the fair value of our single reporting unit is less than its carrying amount. We concluded that the fair value of our single reporting unit exceeded its carrying amount and that it was not necessary to perform the two-step test pursuant to ASC 350‑20. Our qualitative assessment considered many factors including, but not limited to, our actual and projected operating performance and profitability, as well as consideration of recent bank merger and acquisition transaction metrics. No impairment was indicated in 2019, 2018 or 2017. In January 2017, the FASB ASU 2017‑04, Intangibles - Goodwill and Other (Topic 350):Simplifying the Test for Goodwill Impairment, was amended to simplify the accounting for goodwill impairment for public business entities and other entities that have goodwill reported in their financial statements and have not elected the private company alternative for the subsequent measurement of goodwill. The amendment removes Step 2 of the goodwill impairment test. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The effective date and transition requirements for the technical corrections will be effective for the Company for reporting periods beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company will adopt the standard for reporting periods beginning after December 15, 2019 and does not expect these amendments to have a material effect on its financial statements. Core Deposit Intangible The Company considers its core deposits to be intangible assets with finite lives. Core deposit intangibles are being amortized using the effective interest method over six years. Derivative Financial Instruments The Company utilizes interest rate lock commitments, which are considered derivative instruments, in its mortgage banking operations. As of December 31, 2019, the amount of interest rate lock commitments is considered immaterial. Stock-Based Compensation The Company has certain stock-based employee compensation plans, described more fully in Note P . Generally accepted accounting principles (“GAAP”) require recognition of the cost of employee services received in exchange for an award of equity instruments in the financial statements over the period the employee is required to perform the services in exchange for the award (usually the vesting period). GAAP also requires the compensation cost for all awards granted after the date of adoption and any unvested awards that remained outstanding as of the date of adoption to be measured based on the fair value of the award on the grant date. Comprehensive Income The Company reports as comprehensive income all changes in shareholders’ equity during the year from sources other than shareholders. Other comprehensive income refers to all components (revenues, expenses, gains, and losses) of comprehensive income that are excluded from net income. The Company’s only component of other comprehensive income is unrealized gains and losses on investment securities available for sale. Segment Information The Company follows the provisions of ASC 280, Segment Reporting, which specifies guidelines for determining an entity’s operating segments and the type and level of financial information to be disclosed. Based on these guidelines, management has determined that the Bank operates as a single business segment; the providing of general commercial and retail financial services to customers located in the Company’s market areas. The various products, as well as the methods used to distribute them, are those generally offered by community banks. Net Income per Common Share and Common Shares Outstanding Basic earnings per share represents income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options. Basic and diluted net income per share have been computed based upon net income as presented in the accompanying Statements of Operations divided by the weighted average number of common shares outstanding or assumed to be outstanding as summarized below: 2019 2018 2017 Weighted average number of common shares used in computing basic net income per share 19,016,808 15,812,585 11,763,050 Effect of dilutive stock options 46,429 65,048 63,927 Weighted average number of common shares and dilutive potential common shares used in computing diluted net income per share 19,063,237 15,877,633 11,826,977 At December 31, 2019, 2018 and 2017, there were 176,600, 122,300 and 121,300 anti-dilutive options, respectively. Recent Accounting Pronouncements The following summarizes recent accounting pronouncements and their expected impact on the Company: In February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842). ASU 2016-02 applies a right-of-use (“ROU”) model that requires a lessee to record, for all leases with a lease term of more than 12 months, an asset representing its right to use the underlying asset and a liability to make lease payments. For leases with a term of 12 months or less, a practical expedient is available whereby a lessee may elect, by class of underlying asset, not to recognize an ROU asset or lease liability. At inception, lessees must classify all leases as either finance or operating based on five criteria. Balance sheet recognition of finance and operating leases is similar, but the pattern of expense recognition in the income statement, as well as the effect on the statement of cash flows, differs depending on the lease classification. For public business entities, the amendments in ASU 2016-02 are effective for interim and annual periods beginning after December 15, 2018. The Company adopted this standard during the first quarter of 2019. The impact was an increase to the Consolidated Balance Sheet for ROU assets and associated lease liabilities, as well as resulting depreciation expense of the ROU assets and expense of the lease liabilities in the Consolidated Statements of Income. Additionally, adding these assets to the balance sheet impacted total risk-weighted assets used to determine the regulatory capital levels. In July 2018, the FASB amended the Leases Topic of the Accounting Standards Codification to make narrow amendments to clarify how to apply certain aspects of the new standard. The amendments are effective for reporting periods beginning after December 15, 2018 . The Company elected to apply ASU 2016-02 as of the beginning of the period of adoption (January 1, 2019) and will not restate comparative periods. Adoption of ASU 2016-02 resulted in the recognition of lease liabilities totaling $9,013,900 and the recognition of ROU assets totaling $9,013,900 as of the date of adoption. The adoption of this standard did not impact beginning retained earnings. Total risk-based capital was adversely impacted by 13 basis points due to the increase in risk-weighted assets, see Note J. Lease liabilities and ROU assets are reflected in other liabilities and other assets, respectively. The initial balance sheet gross up upon adoption was primarily related to operating leases of certain real estate properties. The Company has a finance lease and no material subleases or leasing arrangements for which it is the lessor of property or equipment. The Company has elected to apply the package of practical expedients allowed by the new standard under which the Company need not reassess whether any expired or existing contracts are leases or contain leases, the Company need not reassess the lease classification for any expired or existing lease, and the Company need not reassess initial direct costs for any existing leases. In June 2016, the FASB issued ASU 2016‑13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, guidance to change the accounting for credit losses and modify the impairment model for certain debt securities. ASU 2016‑13 requires an entity to utilize a new impairment model known as the current expected credit loss ("CECL") model to estimate its lifetime "expected credit loss" and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in earlier recognition of credit losses. ASU 2016‑13 also requires new disclosures for financial assets measured at amortized cost, loans and available-for-sale debt securities. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. On October 16, 2019, the FASB voted to delay implementation of CECL until January 2023 for certain companies, including smaller reporting companies (as defined by the SEC). The Company currently qualifies as a smaller reporting company and is still assessing the impact that this new guidance will have on its consolidated financial statements. In August 2018, the FASB amended ASU 2018-13 - Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement topic of the Accounting Standards Codification. 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 consolidated financial statements. From time to time, the FASB issues exposure drafts for proposed statements of financial accounting standards. Such exposure drafts are subject to comment from the public, to revisions by the FASB and to final issuance by the FASB as statements of financial accounting standards. Management considers the effect of the proposed statements on the consolidated financial statements of the Company and monitors the status of changes to and proposed effective dates of exposure drafts.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	12 Months Ended
	Dec. 31, 2019
BUSINESS COMBINATIONS
BUSINESS COMBINATIONS	NOTE C – BUSINESS COMBINATIONS On July 20, 2017, the Company executed a merger agreement with Premara Financial, Inc. (“Premara”), a bank holding company headquartered in Charlotte, North Carolina, whose wholly owned subsidiary, Carolina Premier Bank, was a North Carolina state-chartered commercial bank. On December 15, 2017, the Company completed its previously announced acquisition of Premara and pursuant to the terms of the merger agreement, Premara was merged with and into the Company, followed immediately by the merger of Carolina Premier Bank with and into the Bank. Carolina Premier had approximately $279.6 million in assets as of the merger date, December 15, 2017. The merger expanded the Bank’s North Carolina presence with a branch in Charlotte and marked the Bank’s initial entry into South Carolina with the acquisition of branches in Rock Hill, Blacksburg and Six Mile, South Carolina. During 2019 the Bank sold the Six Mile location to another financial institution. Premara had 3,179,808 shares of common stock outstanding as of the merger closing date. Under the terms of the merger agreement, 948,080 shares of Premara common stock (equivalent to 30% of Premara’s outstanding shares of common stock as of the date of the merger agreement) were converted to the $12.65 per share cash merger consideration, for aggregate cash consideration of $11,993,212 (exclusive of cash paid-in-lieu of fractional shares) which was paid out subsequent to year-end 2017. Pursuant to the merger agreement, each warrant or stock option to acquire shares of Premara common stock issued and outstanding as of the effective time of the merger was converted into the right to receive from the Company a cash payment equal to $12.65 less the exercise price of such warrant or option, as applicable and paid out prior to year-end 2017. The remaining 2,231,728 Premara common shares were converted into stock consideration at the merger exchange ratio of 1.0463 shares of Company common stock for each share of Premara common stock, resulting in the issuance of 2,334,999 new shares of Company common stock. The transaction was valued at approximately $40.6 million in the aggregate based on 3,179,808 shares of Premara common stock outstanding on December 15, 2017. The Premara common stock shares converted to Select common stock were valued at $12.14 per share, the low price of Select common stock on December 15, 2017. The merger with Premara was accounted for under the acquisition method of accounting with the Company as the legal and accounting acquirer and Premara as the legal and accounting acquiree. The assets and liabilities of Premara, as of the effective date of the acquisition, are recorded at their respective fair values. For the acquisition of Premara, estimated fair values of assets acquired and liabilities assumed are based on the information that is available, and the Company believes this information provides a reasonable basis for determining fair values. The following table provides the carrying value of acquired assets and assumed liabilities, as recorded by the Company, the fair value adjustments calculated at the time of the merger and the resulting fair value recorded by the Company. December 15, 2017 As recorded by Fair Value As recorded by Premara adjustments the Company (Dollars in thousands) Assets Cash and cash equivalents $ 28,513 $ — $ 28,513 Investment securities 32,939 (106) 32,833 Loans 203,780 (5,340) 198,440 Less: allowance for loan losses (2,341) 2,341 — Premises and equipment 928 (233) 695 Accrued interest receivable 853 (56) 797 Bank owned life insurance 5,673 — 5,673 Goodwill 325 (325) — Core deposit intangible 223 2,477 2,700 Other assets 8,701 790 9,491 Total assets acquired $ 279,594 $ (452) $ 279,142 Liabilities Deposits: Noninterest-bearing $ 55,617 $ — $ 55,617 Interest-bearing 170,873 171 171,044 Total deposits 226,490 171 226,661 Borrowings 29,000 14 29,014 Other liabilities 747 — 747 Total liabilities assumed $ 256,237 $ 185 $ 256,422 Fair value of net assets assumed 22,720 Value of common shares of Premara shareholders 40,693 Goodwill recorded for Premara $ 17,973 Goodwill recorded for Premara represents future revenues to be derived from the existing customer base, including efficiencies that will result from combining operations. In determining the acquisition date fair value of purchased credit-impaired (“PCI”) loans, and in subsequent accounting, the Company generally aggregates loans into pools of loans with common risk characteristics. Expected cash flows at the acquisition date in excess of the fair value of loans are referred to as the “accretable yield” and recorded as interest income prospectively. PCI loans acquired totaled $8.6 million at estimated fair value and acquired performing loans totaling $189.6 million at estimated fair value. For PCI loans acquired from Premara, the contractually required payments including principal and interest, cash flows expected to be collected and fair values as of the closing date of the merger were: December 15, 2017 (Dollars in thousands) Contractually required payments $ 11,752 Nonaccretable difference 1,768 Cash flows expected to be collected 9,984 Accretable yield 1,392 Fair value at acquisition date $ 8,592 Merger-related expense in 2019, 2018 and 2017 totaled 406,000, $ 1.8 million and $2.2 million, respectively which were recorded as noninterest expense as incurred.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	12 Months Ended
	Dec. 31, 2019
INVESTMENT SECURITIES
INVESTMENT SECURITIES	NOTE D - INVESTMENT SECURITIES The amortized cost and fair value of available for sale (“AFS”) investments, with gross unrealized gains and losses, follow: December 31, 2019 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (dollars in thousands) Securities available for sale: U.S. government agencies – GSE’s $ 9,839 $ 159 $ (2) $ 9,996 Mortgage-backed securities – GSE’s 46,926 830 (13) 47,743 Corporate bonds 2,282 17 — 2,299 Municipal bonds 12,152 177 — 12,329 $ 71,199 $ 1,183 $ (15) $ 72,367 December 31, 2018 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (dollars in thousands) Securities available for sale: U.S. government agencies – GSE’s $ 9,852 $ 36 $ (51) $ 9,837 Mortgage-backed securities – GSE’s 23,150 62 (229) 22,983 Corporate bonds 1,697 25 — 1,722 Municipal bonds 16,910 105 (24) 16,991 $ 51,609 $ 228 $ (304) $ 51,533 Securities with a carrying value of $18.4 million and $6.4 million at December 31, 2019 and 2018, respectively, were pledged to secure public monies on deposit as required by law, customer repurchase agreements, and access to the Federal Reserve Discount Window. The following tables show gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position as of December 31, 2019 and 2018. 2019 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses (dollars in thousands) Securities available for sale: U.S. government agencies – GSE’s $ 872 $ — $ 621 $ (2) $ 1,493 $ (2) Mortgage-backed securities – GSE’s 2,672 (3) 3,774 (10) 6,446 (13) Corporate bonds — — — — — — Municipal bonds — — — — — — Total temporarily impaired securities $ 3,544 $ (3) $ 4,395 $ (12) $ 7,939 $ (15) At December 31, 2019, the Company had two AFS mortgage-backed GSE’s and one U.S Government agency – GSE with an unrealized loss for twelve or more consecutive months totaling $12,000. The Company had three AFS securities with a loss for twelve months or less. One U.S. government agency GSE and two mortgage-backed GSE’s had unrealized losses for less than twelve months totaling $3,000 at December 31, 2019. All unrealized losses are attributable to the general trend of interest rates 2018 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses (dollars in thousands) Securities available for sale: U.S. government agencies – GSE’s $ 1,224 $ (6) $ 4,086 $ (45) $ 5,310 $ (51) Mortgage-backed securities – GSE’s 200 — 16,932 (229) 17,132 (229) Corporate bonds — — — — — — Municipal bonds 1,007 (2) 1,740 (22) 2,747 (24) Total temporarily impaired securities $ 2,431 $ (8) $ 22,758 $ (296) $ 25,189 $ (304) At December 31, 2018, the Company had twenty-four AFS mortgage-backed GSE’s, four municipals and six U.S Government agencies – GSE’s with an unrealized loss for twelve or more consecutive months totaling $296,000. The Company had six AFS securities with a loss for twelve months or less. Three U.S. government agency GSE’s, two municipals and one mortgage-backed GSE had unrealized losses for less than twelve months totaling $8,000 at December 31, 2018. All unrealized losses are attributable to the general trend of interest rates. Since none of the unrealized losses relate to the liquidity of the securities or the issuer’s ability to honor redemption obligations and the Company has the intent and ability to hold these securities to recovery, no other than temporary impairments were identified for these investments having unrealized losses for the periods ended December 31, 2019 and December 31, 2018. In 2019, the Company realized gains of $48,000 on proceeds of $1.1 million related to the disposal of two securities; in 2018, the Company did not sell any securities; and in 2017 the Company realized net gains of $1,000 on proceeds of $22.0 million related to the disposal of fifty one securities. The following table sets forth certain information regarding the amortized costs, carrying values and contractual maturities of the Company’s investment portfolio at December 31, 2019. Amortized Fair Cost Value (dollars in thousands) Securities available for sale: U.S. government agencies – GSE’s Due within one year $ 122 $ 123 Due after one but within five years 7,517 7,620 Due after five but within ten years 1,855 1,909 Due after ten years 345 344 9,839 9,996 Mortgage-backed securities – GSE’s Due within one year 4,455 4,449 Due after one but within five years 33,217 33,802 Due after five but within ten years 710 719 Due after ten years 8,544 8,773 46,926 47,743 Corporate bonds Due within one year 276 280 Due after one but within five years — — Due after five but within ten years 1,256 1,269 Due after ten years 750 750 2,282 2,299 Municipal bonds Due within one year 4,048 4,062 Due after one but within five years 220 220 Due after five but within ten years 747 764 Due after ten years 7,137 7,283 12,152 12,329 Total securities available for sale Due within one year 8,901 8,914 Due after one but within five years 40,954 41,642 Due after five but within ten years 4,568 4,661 Due after ten years 16,776 17,150 $ 71,199 $ 72,367 For purposes of the maturity table, mortgage-backed securities, which are not due at a single maturity date, have been allocated over maturity groupings based on the weighted-average contractual maturities of underlying collateral. The mortgage-backed securities may mature earlier than their weighted-average contractual maturities because of principal prepayments.

LOANS

LOANS	12 Months Ended
	Dec. 31, 2019
LOANS
LOANS	NOTE E - LOANS The following is a summary of loans at December 31, 2019 and 2018: 2019 2018 Percent Percent Amount of total Amount of total (dollars in thousands) Real estate loans: 1-to-4 family residential $ 151,697 14.73 % $ 159,597 16.19 % Commercial real estate 459,115 44.58 % 457,611 46.41 % Multi-family residential 69,124 6.71 % 63,459 6.44 % Construction 221,878 21.55 % 170,404 17.28 % Home equity lines of credit (“HELOC”) 44,514 4.32 % 49,713 5.04 % Total real estate loans 946,328 91.89 % 900,784 91.36 % Other loans: Commercial and industrial 75,748 7.35 % 74,181 7.52 % Loans to individuals 9,779 0.95 % 12,597 1.28 % Overdrafts 234 0.02 % 217 0.02 % Total other loans 85,761 8.32 % 86,995 8.82 % Gross loans 1,032,089 987,779 Less deferred loan origination fees, net (2,114) (0.18) % (1,739) (0.18) % Total loans 1,029,975 100.00 % 986,040 100.00 % Allowance for loan losses (8,324) (8,669) Total loans, net $ 1,021,651 $ 977,371 Loans are primarily made in central and eastern North Carolina, southeast Virginia and northwest South Carolina. Real estate loans can be affected by the condition of the local real estate market and can be affected by the local economic conditions. At December 31, 2019, the Company had pre-approved but unused lines and letters of credit totaling $234.2 million. In management’s opinion, these commitments, and undisbursed proceeds on loans reflected above, represent no more than normal lending risk to the Company and will be funded from normal sources of liquidity. A description of the various loan products provided by the Bank is presented below. Residential 1‑to‑4 Family Loans Residential 1‑to‑4 family loans are mortgage loans that typically convert from construction loans into permanent financing and are secured by properties within the Bank’s market areas. Commercial Real Estate Loans Commercial real estate loans are underwritten based on the borrower’s ability to generate adequate cash flow to repay the subject debt within reasonable terms. Commercial real estate loans typically include both owner and non-owner occupied properties with higher principal loan amounts and the repayment of these loans is generally dependent on the successful management of the property. Commercial real estate loans are sensitive to market and general economic conditions. Repayment analysis must be performed and consists of an identified primary/cash flow source of repayment and a secondary/liquidation source of repayment. The primary source of repayment is cash flow from income generated from rental or lease of the property. However, the cash flow can be supplemented with the borrower’s and guarantor’s global cash flow position. Other credit issues such as the business fundamentals and financial strength of the borrower/guarantor can be considered in determining adequacy of repayment ability. The secondary source of repayment is liquidation of the collateral, supplemented by liquidation cushion provided by the financial assets of the borrower/guarantor. Management monitors and evaluates commercial real estate loans based on collateral, market area, and risk grade. Multi-family Residential Loans Multi-family residential loans are typically nonfarm properties with 5 or more dwelling units in structures which include apartment buildings used primarily to accommodate households on a more or less permanent basis. Successful performance of these types of loans is primarily dependent on occupancy rates, rental rates, and property management. Construction Loans Construction loans are non-revolving extensions of credit secured by real property of which the proceeds are used to acquire and develop land and to construct commercial or residential buildings. The primary source of repayment for these types of loans is the sale of the improved property or permanent financing in which case the property is expected to generate the cash flow necessary for repayment on a permanent loan basis. Property cash flow may be supplemented with financial support from the borrowers/guarantors. Proper underwriting of a construction loan consists of the initial process of obtaining, analyzing, and approving various aspects of information pertaining to: the analysis of the permanent financing source, creditworthiness of the borrower and guarantors, ability of contractor to perform under the terms of the contract, and the feasibility, marketability, and valuation of the project. Also, consideration is given to the cost of the project and sources of funds needed to complete construction as well as identifying any sources of equity funding. Construction loans are traditionally considered to be higher risk loans involving technical and legal requirements inherently different from other types of loans; however with thorough credit underwriting, proper loan structure, and diligent loan servicing, these risks can be mitigated. Some examples of risks inherent in this type of lending include: underestimated costs, inflation of material and labor costs, site difficulties (i.e. rock, soil), project not built to plans, weather delays and natural disasters, borrower/contractor/subcontractor disputes which prompt liens, and interest rates increasing beyond budget. Home Equity Lines of Credit Home equity lines of credit are consumer-purpose revolving extensions of credit which are secured by first or second liens on owner-occupied residential real estate. Appropriate risk management and compliance practices are exercised to ensure that loan-to-value, lien perfection, and compliance risks are addressed and managed within the Bank’s established guidelines. The degree of utilization of revolving commitments within this loan segment is reviewed periodically to identify changes in the behavior of this borrowing group. Commercial and Industrial Loans Commercial and industrial loans are underwritten after evaluating and understanding the borrower’s ability to generate positive cash flow, operate profitably and prudently expand its business. Underwriting standards are designed to promote relationships to include a full range of loan, deposit, and cash management services. Commercial and industrial loans are primarily made based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower and the guarantors. The cash flows of the borrower, however, may not be as expected and the collateral securing these loans may fluctuate in value. In the case of loans secured by accounts receivable, the availability of funds for repayment can be impacted by the borrower’s ability to collect amounts due from its customers. Loans to Individuals Consumer loans are approved using Bank policies and procedures established to evaluate each credit request. All lending decisions and credit risks are clearly documented. Several factors are considered in making these decisions such as credit score, adjusted net worth, liquidity, debt ratio, disposable income, credit history, and loan-to-value of the collateral. This process, combined with the relatively smaller loan amounts, spreads the risk among many individual borrowers. Overdrafts Overdrafts on customer accounts are classified as loans for reporting purposes. Non-Accrual and Past Due Loans The following tables present as of December 31, 2019 and 2018 an age analysis of past due loans, segregated by class of loans: December 31, 2019 30-59 60-89 90+ Non- Total Days Days Days Accrual Past Total Past Due Past Due Accruing Loans Due Current Loans (dollars in thousands) Total loans Commercial and industrial $ 1,108 $ 34 $ 46 $ 2,824 $ 4,012 $ 71,736 $ 75,748 Construction — — — 181 181 221,697 221,878 Multi-family residential — — — — — 69,124 69,124 Commercial real estate 393 82 321 1,832 2,628 456,487 459,115 Loans to individuals & overdrafts 5 — — 155 160 9,853 10,013 1‑to‑4 family residential 859 810 864 505 3,038 148,659 151,697 HELOC 168 — — 444 612 43,902 44,514 Deferred loan (fees) cost, net — — — — — — (2,114) $ 2,533 $ 926 $ 1,231 $ 5,941 $ 10,631 $ 1,021,458 $ 1,029,975 Loans- PCI Commercial and industrial $ — $ — $ 46 $ — $ 46 $ 1,057 $ 1,103 Construction — — — — — 677 677 Multi-family residential — — — — — 897 897 Commercial real estate — — 321 — 321 5,449 5,770 Loans to individuals & overdrafts — — — — — — — 1‑to‑4 family residential — — 864 — 864 6,354 7,218 HELOC — — — — — 48 48 $ — $ — $ 1,231 $ — $ 1,231 $ 14,482 $ 15,713 Loans- excluding PCI Commercial and industrial $ 1,108 $ 34 $ — $ 2,824 $ 3,966 $ 70,679 $ 74,645 Construction — — — 181 181 221,020 221,201 Multi-family residential — — — — — 68,227 68,227 Commercial real estate 393 82 — 1,832 2,307 451,038 453,345 Loans to individuals & overdrafts 5 — — 155 160 9,853 10,013 1‑to‑4 family residential 859 810 — 505 2,174 142,305 144,479 HELOC 168 — — 444 612 43,854 44,466 Deferred loan (fees) cost, net — — — — — — (2,114) $ 2,533 $ 926 $ — $ 5,941 $ 9,400 $ 1,006,976 $ 1,014,262 Non-Accrual and Past Due Loans December 31, 2018 30-59 60-89 90+ Non- Total Days Days Days Accrual Past Total Past Due Past Due Accruing Loans Due Current Loans (dollars in thousands) Total loans Commercial and industrial $ 27 $ 203 $ 1,665 $ 4,170 $ 6,065 $ 68,116 $ 74,181 Construction — — 69 587 656 169,748 170,404 Multi-family residential — — — — — 63,459 63,459 Commercial real estate 103 483 — 1,074 1,660 455,951 457,611 Loans to individuals & overdrafts 1 24 — — 25 12,789 12,814 1‑to‑4 family residential 502 505 1,433 386 2,826 156,771 159,597 HELOC — 43 — 1,040 1,083 48,630 49,713 Deferred loan (fees) cost, net — — — — — — (1,739) $ 633 $ 1,258 $ 3,167 $ 7,257 $ 12,315 $ 975,464 $ 986,040 Loans- PCI Commercial and industrial $ — $ — $ 1,665 $ — $ 1,665 $ 99 $ 1,764 Construction — — 69 — 69 682 751 Multi-family residential — — — — — 937 937 Commercial real estate — — — — — 7,579 7,579 Loans to individuals & overdrafts — — — — — — — 1‑to‑4 family residential — — 1,433 — 1,433 6,755 8,188 HELOC — — — — — 49 49 $ — $ — $ 3,167 $ — $ 3,167 $ 16,101 $ 19,268 Loans- excluding PCI Commercial and industrial $ 27 $ 203 $ — $ 4,170 $ 4,400 $ 68,017 $ 72,417 Construction — — — 587 587 169,066 169,653 Multi-family residential — — — — — 62,522 62,522 Commercial real estate 103 483 — 1,074 1,660 448,372 450,032 Loans to individuals & overdrafts 1 24 — — 25 12,789 12,814 1‑to‑4 family residential 502 505 — 386 1,393 150,016 151,409 HELOC — 43 — 1,040 1,083 48,581 49,664 Deferred loan (fees) cost, net — — — — — — (1,739) $ 633 $ 1,258 $ — $ 7,257 $ 9,148 $ 959,363 $ 966,772 There were six loans in the aggregate amount of $1.2 million greater than 90 days past due and still accruing interest at December 31, 2019 and there were seventeen loans in the aggregate amount of $3.2 million greater than 90 days past due and still accruing interest at December 31, 2018. All loans greater than 90 days past due and still accruing are acquired loans that are considered past due rather than non-accrual loans due to the accounting treatment of acquired loans. In accordance with the ASC 310‑20 guidance, if the loan pays differently than contractually required, than an adjustment to the discount premium is made in order to maintain the same effective interest rate. Impaired Loans The following tables present information on loans, excluding PCI loans and loans evaluated collectively as a homogenous group, that were considered to be impaired as of December 31, 2019 and December 31, 2018: December 31, 2019 Contractual Year to Date Unpaid Related Average Interest Income Recorded Principal Allowance Recorded Recognized on Investment Balance for Loan Losses Investment Impaired Loans (dollars in thousands) 2019: With no related allowance recorded: Commercial and industrial $ 2,796 $ 4,051 $ — $ 4,186 $ 122 Construction 440 537 — 500 26 Commercial real estate 5,585 6,750 — 5,632 272 Loans to individuals & overdrafts 284 293 — 193 12 Multi-family residential 197 197 — 206 13 HELOC 543 678 — 793 36 1‑to‑4 family residential 395 1,816 — 1,204 86 Subtotal: 10,240 14,322 — 12,714 567 With an allowance recorded: Commercial and industrial 731 1,056 403 572 41 Construction — — — 13 — Commercial real estate — — — — — Loans to individuals & overdrafts — — — — — Multi-family Residential — — — — — HELOC 160 222 — 212 10 1‑to‑4 family residential 81 94 10 563 7 Subtotal: 972 1,372 413 1,360 58 Totals: Commercial 9,749 12,591 403 11,109 474 Consumer 284 293 - 193 12 Residential 1,179 2,810 10 2,772 139 Grand Total: $ 11,212 $ 15,694 $ 413 $ 14,074 $ 625 Impaired loans at December 31, 2019 were approximately $11.2 million and included $5.9 million in non-accrual loans and $6.2 million in loans still in accruing status. Recorded investment represents the current principal balance for the loan. Approximately $972,000 of the $11.2 million in impaired loans at December 31, 2019 had specific allowances aggregating $413,000 while the remaining $10.2 million had no specific allowances recorded. Of the $10.2 million with no allowance recorded, partial charge-offs through December 31, 2019 amounted to $4.1 million. December 31, 2018 Contractual Year to Date Unpaid Related Average Interest Income Recorded Principal Allowance Recorded Recognized on Investment Balance for Loan Losses Investment Impaired Loans (dollars in thousands) 2018: With no related allowance recorded: Commercial and industrial $ 4,210 $ 4,495 $ — $ 2,899 $ 229 Construction 561 647 — 473 16 Commercial real estate 4,744 6,903 — 5,053 372 Loans to individuals & overdrafts 101 109 — 51 9 Multi-family residential 215 215 — 225 15 HELOC 1,040 1,204 — 884 50 1‑to‑4 family residential 572 732 — 1,169 79 Subtotal: 11,443 14,305 — 10,754 770 With an allowance recorded: Commercial and industrial 127 325 51 234 13 Construction 27 27 14 13 — Commercial real estate — — — — — Loans to individuals & overdrafts — — — — — Multi-family Residential — — — — — HELOC — — — — — 1‑to‑4 family residential 137 555 22 374 23 Subtotal: 291 907 87 621 36 Totals: Commercial 10,007 12,612 65 8,897 645 Consumer 101 109 — 51 9 Residential 1,626 2,491 22 2,427 152 Grand Total: $ 11,734 $ 15,212 $ 87 $ 11,375 $ 806 Impaired loans at December 31, 2018 were approximately $11.7 million and were comprised of $7.3 million in non-accrual loans and $4.4 million in loans still in accruing status. Recorded investment represents the current principal balance for the loan. Approximately $291,000 of the $11.7 million in impaired loans at December 31, 2018 had specific allowances aggregating $87,000 while the remaining $11.4 million had no specific allowances recorded. Of the $11.4 million with no allowance recorded, partial charge-offs through December 31, 2018 amounted to $3.5 million. Troubled Debt Restructurings The following tables present loans that were modified as troubled debt restructurings (“TDRs”) within the previous twelve months with a breakdown of the types of concessions made by loan class during the twelve months ended December 31, 2019 and 2018: Twelve Months Ended December 31, 2019 Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded loans Investments Investments (dollars in thousands) Extended payment terms: Commercial and industrial 6 $ 2,535 $ 2,380 Commercial real estate 1 752 687 Construction 1 260 259 1‑to‑4 family residential 3 232 208 Total 11 $ 3,779 $ 3,534 As noted in the tables above, there were eleven loans that were considered TDRs during the year ended December 31, 2019, for reasons due to extended terms. These loans were renewed at terms that vary from those that the Company would enter into for new loans of this type. Twelve Months Ended December 31, 2018 Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded loans Investments Investments (dollars in thousands) Extended payment terms: Commercial and industrial 6 $ 1,579 $ 1,517 Commercial real estate 3 1,283 895 1‑to‑4 family residential 1 409 389 Total 10 $ 3,271 $ 2,801 As noted in the tables above, there were ten loans that were considered TDRs during the year ended December 31, 2018, for reasons due to extended terms. These loans were renewed at terms that vary from those that the Company would enter into for new loans of this type. The following tables present loans that were modified as TDRs within the previous twelve months for which there was a payment default together with a breakdown of the types of concessions made by loan class during the twelve months ended December 31, 2019 and 2018: Twelve months ended December 31, 2019 Number Recorded of loans investment (dollars in thousands) Extended payment terms: Commercial and industrial 2 $ 1,566 Total 2 $ 1,566 Twelve months ended December 31, 2018 Number Recorded of loans investment (dollars in thousands) Extended payment terms: Commercial and industrial 4 $ 1,036 Commercial real estate 1 334 Total 5 $ 1,370 At December 31, 2019, the Company had forty-two loans with an aggregate balance of $9.4 million that were considered to be troubled debt restructurings. Of those TDRs, twenty-eight loans with a balance totaling $6.2 million were still accruing as of December 31, 2019. The remaining fourteen TDRs with a balance totaling $3.2 million were in non-accrual status. All TDRs are included in non-performing assets and impaired loans. At December 31, 2018, the Company had thirty-six loans with an aggregate balance of $6.9 million that were considered to be troubled debt restructurings. Of those TDRs, twenty loans with a balance totaling $4.4 million were still accruing as of December 31, 2018. The remaining sixteen TDRs with a balance totaling $2.5 million were in non-accrual status. All TDRs are included in non-performing assets and impaired loans. Credit Quality Indicators As part of the on-going monitoring of the credit quality of the loan portfolio, management utilizes a risk grading matrix to assign a risk grade to each of the Company’s loans. All non-consumer loans are graded on a scale of 1 to 9. A description of the general characteristics of these nine different risk grades is as follows: · Risk Grade 1 (Superior) - Credits in this category are virtually risk-free and are well-collateralized by cash-equivalent instruments. The repayment program is well-defined and achievable. Repayment sources are numerous. No material documentation deficiencies or exceptions exist. · Risk Grade 2 (Very Good) - This grade is reserved for loans secured by readily marketable collateral, or loans within guidelines to borrowers with liquid financial statements. A liquid financial statement is a financial statement with substantial liquid assets relative to debts. These loans have excellent sources of repayment, with no significant identifiable risk of collection, and conform in all respects to Bank policy, guidelines, underwriting standards, and Federal and State regulations (no exceptions of any kind) . · Risk Grade 3 (Good) - These loans have excellent sources of repayment, with no significant identifiable risk of collection. Generally, loans assigned this risk grade will demonstrate the following characteristics: o o o · Risk Grade 4 (Acceptable) - This grade is given to acceptable loans. These loans have adequate sources of repayment, with little identifiable risk of collection. Loans assigned this risk grade will demonstrate the following characteristics: o o o · Risk Grade 5 (Acceptable With Care) - This grade is given to acceptable loans that show signs of weakness in either adequate sources of repayment or collateral, but have demonstrated mitigating factors that minimize the risk of delinquency or loss. Loans assigned this grade may demonstrate some or all of the following characteristics: o o o · Risk Grade 6 (Watch List or Special Mention) – Loans in this category can have the following characteristics: o o o · Risk Grade 7 (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 Bank will sustain some loss if the deficiencies are not corrected. Loans consistently not meeting the repayment schedule should be downgraded to substandard. Loans in this category are characterized by deterioration in quality exhibited by any number of well-defined weaknesses requiring corrective action. · Risk Grade 8 (Doubtful) - Loans classified Doubtful have all the weaknesses inherent in loans classified 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. However, these loans are not yet rated as loss because certain events may occur which would salvage the debt. · Risk Grade 9 (Loss) - Loans classified as Loss are considered uncollectable and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off the loan even though partial recovery may be affected in the future. Consumer loans are graded on a scale of 1 to 9. A description of the general characteristics of the 9 risk grades is as follows: · Risk Grades 1 – 5 (Pass) – The loans in this category range from loans secured by cash with no risk of principal deterioration (Risk Grade 1) to loans that show signs of weakness in either adequate sources of repayment or collateral but have demonstrated mitigating factors that minimize the risk of delinquency or loss (Risk Grade 5). · Risk Grade 6 (Watch List or Special Mention) - Watch list or Special Mention loans include the following characteristics: o o o · Risk Grade 7 (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. · Risk Grade 8 (Doubtful) - Loans classified Doubtful have all the weaknesses inherent in loans classified 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. However, these loans are not yet rated as loss because certain events may occur which would salvage the debt. · Risk Grade 9 (Loss) - Loans classified Loss are considered uncollectable and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off this worthless loan even though partial recovery may be affected in the future. The following tables present information on risk ratings of the commercial and consumer loan portfolios, segregated by loan class as of December 31, 2019 and 2018: Total Loans: December 31, 2019 Commercial Credit Exposure By Commercial Commercial Internally and real Multi-family Assigned Grade industrial Construction estate residential (dollars in thousands) Superior $ 4,014 $ — $ 337 $ — Very good 349 110 1,245 — Good 5,976 8,674 62,643 4,839 Acceptable 19,197 16,249 255,751 41,113 Acceptable with care 40,579 196,228 133,190 23,172 Special mention 242 436 1,490 — Substandard 5,391 181 4,459 — Doubtful — — — — Loss — — — — $ 75,748 $ 221,878 $ 459,115 $ 69,124 Consumer Credit Exposure By Internally 1‑to‑4 family Assigned Grade residential HELOC Pass $ 147,958 $ 43,585 Special mention 1,246 76 Substandard 2,493 853 $ 151,697 $ 44,514 Consumer Credit Exposure Based Loans to On Payment individuals & Activity overdrafts Pass $ 9,727 Special mention 286 $ 10,013 Total Loans: December 31, 2018 Commercial Credit Exposure By Commercial Commercial Internally and real Multi-family Assigned Grade industrial Construction estate residential (dollars in thousands) Superior $ 1,662 $ — $ 21 $ — Very good 2,266 246 1,120 — Good 5,773 12,106 47,959 5,116 Acceptable 22,332 30,897 263,017 37,832 Acceptable with care 34,626 125,788 139,484 20,296 Special mention 879 711 1,789 — Substandard 6,643 656 4,221 215 Doubtful — — — — Loss — — — — $ 74,181 $ 170,404 $ 457,611 $ 63,459 Consumer Credit Exposure By Internally 1‑to‑4 family Assigned Grade residential HELOC Pass $ 155,117 $ 48,143 Special mention 900 88 Substandard 3,580 1,482 $ 159,597 $ 49,713 Consumer Credit Exposure Based Loans to On Payment individuals & Activity overdrafts Pass $ 10,891 Special mention 1,923 $ 12,814 The process of determining the allowance for loan losses is driven by the risk grade system and the loss experience on non-risk graded homogeneous types of loans. The Bank’s allowance for loan losses is calculated and determined, at a minimum, each fiscal quarter end. The allowance for loan losses represents management’s estimate of the appropriate level of reserve to provide for probable losses inherent in the loan portfolio. In determining the allowance for loan losses and any resulting provision to be charged against earnings, particular emphasis is placed on the results of the loan review process. Consideration is also given to a review of individual loans, historical loan loss experience, the value and adequacy of collateral and economic conditions in the Bank’s market areas. For loans determined to be impaired, the impairment is based on discounted expected cash flows using the loan’s initial effective interest rate or the fair value of the collateral (less selling costs) for certain collateral dependent loans. This evaluation is inherently subjective as it requires material estimates, including the amounts and timing of future cash flows expected to be received on impaired loans that may be susceptible to significant change. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Bank’s allowance for loan losses. Such agencies may require the Bank to recognize changes to the allowance based on their judgments about information available to them at the time of their examinations. Loans are charged off when in the opinion of management, they are deemed to be uncollectible. Recognized losses are charged against the allowance, and subsequent recoveries are added to the allowance. The Credit Management Committee of the Board of Directors has responsibility for oversight. Management believes the allowance for loan losses of $8.3 million at December 31, 2019 is adequate to provide for inherent losses in the loan portfolio; however, assessing the adequacy of the allowance is a process that requires continuous evaluation and considerable judgment. Management’s judgments are based on numerous assumptions about current events which it believes to be reasonable, but which may or may not be valid. Thus, there can be no assurance that credit losses in future periods will not exceed the current allowance or that future increases in the allowance will not be required. No assurance can be given that management’s ongoing evaluation of the loan portfolio in light of changing economic conditions and other relevant circumstances will not require significant future additions to the allowance, thus adversely affecting future operating results of the Bank. For PCI loans acquired from Legacy Select and Premara, the contractually required payments including principal and interest, cash flows expected to be collected and fair values as of the closing date of the merger and December 31, 2019 and 2018 were: December 31, December 31, 2019 2018 (dollars in thousands) Contractually required payments $ 20,598 $ 24,823 Nonaccretable difference 1,694 1,962 Cash flows expected to be collected 18,904 22,861 Accretable yield 3,191 3,593 Fair value $ 15,713 $ 19,268 The following table documents changes to the amount of the PCI accretable yield as of December 31, 2019 and 2018: 2019 2018 (dollars in thousands) Accretable yield, beginning of period $ 3,593 $ 3,307 Additions — — Accretion (904) (1,541) Reclassification from nonaccretable difference 360 576 Other changes, net 142 1,251 Accretable yield, end of period $ 3,191 $ 3,593 Allowance for Loan Losses The allowance for loan losses is a reserve established through provisions for loan losses charged to income and represents management’s best estimate of probable loan losses inherent within the existing portfolio of loans. The allowance, in the judgment of management, is necessary to reserve for estimated losses and risk inherent in the loan portfolio. The Company’s allowance for loan loss methodology is based on historical loss experience by type of credit and internal risk grade, specific homogeneous risk pools and specific loss allocations, with adjustments for current events and conditions. The Company’s process for determining the appropriate level of reserves is designed to account for changes in credit quality as they occur. The provision for loan losses reflects loan quality trends, including the levels of, and trends related to, past due loans and economic conditions at the local and national levels. It also considers the quality and risk characteristics of the Company’s loan origination and servicing policies and practices. Individual reserves are calculated according to ASC Section 310‑10‑35 against loans evaluated individually and deemed to most likely be impaired. Impaired loans include all loans in non-accrual status, all troubled debt restructures, all substandard loans that are deemed to be collateral dependent, and other loans that management determines require reserves. The Company’s allowance for loan losses model calculates historical loss rates using a loss migration analysis associating losses to the risk-graded pool to which they relate for each of the previous twelve quarters. Then, using a twelve quarter look back period, loss factors are calculated for each risk-graded pool. The model incorporates various internal and external qualitative and environmental factors as described in the Interagency Policy Statement on the Allowance for Loan and Lease Losses, dated December 2006. Input for these factors is determined on the basis of management observation, judgment, and experience. The factors utilized by the Company are as follows: Internal Factors · Concentrations – Measures the increased risk derived from concentration of credit exposure in particular industry segments within the portfolio. · Policy exceptions – Measures the risk derived from granting terms outside of underwriting guidelines. · Compliance exceptions– Measures the risk derived from granting terms outside of regulatory guidelines. · Document exceptions– Measures the risk exposure resulting from the inability to collect due to improperly executed documents and collateral imperfections. · Financial information monitoring – Measures the risk associated with not having current borrower financial information. · Nonaccrual – Reflects increased risk of loans with characteristics that merit nonaccrual status. · Delinquency – Reflects the increased risk deriving from higher delinquency rates. · Personnel turnover – Reflects staff competence in various types of lending. · Portfolio growth – Measures the impact of growth and potential risk derived from new loan production. External Factors · GDP growth rate – Impact of general economic factors that affect the portfolio. · North Carolina unemployment rate – Impact of local economic factors that affect the portfolio. · South Carolina unemployment rate – Impact of local economic factors that affect the portfolio. · Peer group delinquency rate – Measures risk associated with the credit requirements of competitors. · Prime rate change – Measures the effect on the portfolio in the event of changes in the prime lending rate. Each pool is assigned an adjustment to the potential loss percentage by assessing its characteristics against each of the factors listed above. Reserves are generally divided into three allocation segments: 1. Individual reserves. These are calculated according to ASC Section 310‑10‑35 against loans evaluated individually and deemed to most likely be impaired. All loans in non-accrual status and all substandard loans that are deemed to be collateral dependent are assessed for impairment. Loans are deemed uncollectible based on a variet

OTHER REAL ESTATE OWNED

OTHER REAL ESTATE OWNED	12 Months Ended
	Dec. 31, 2019
OTHER REAL ESTATE OWNED
OTHER REAL ESTATE OWNED	NOTE F– OTHER REAL ESTATE OWNED The following table explains changes in other real estate owned (“OREO”) during the years ended December 31, 2019 and 2018 (dollars in thousands): December 31, December 31, 2019 2018 (Dollars in thousands) Beginning balance January 1 $ 1,088 $ 1,258 Sales (120) (717) Write-downs and loss on sales (49) (71) Transfers 2,614 618 Ending balance $ 3,533 $ 1,088 At December 31, 2019 and December 31, 2018, the Company had $3.5 million and $1.1 million, respectively, of foreclosed residential real estate property in OREO. The Company had 3 loans with recorded investment in the amount of $114,000 in consumer mortgage loans collateralized by residential real estate property in the process of foreclosure at December 31, 2019 compared to 4 loans with recorded investment in the amount of $500,000 in consumer mortgage loans collateralized by residential real estate property in the process of foreclosure at December 31, 2018.

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT	12 Months Ended
	Dec. 31, 2019
PREMISES AND EQUIPMENT
PREMISES AND EQUIPMENT	NOTE G - PREMISES AND EQUIPMENT The following is a summary of premises and equipment at December 31, 2019 and 2018: 2019 2018 (dollars in thousands) Land $ 4,846 $ 4,913 Buildings 15,692 14,878 Furniture and equipment 8,077 7,455 Leasehold improvements 498 562 Construction in progress — 136 29,113 27,944 Less accumulated depreciation 11,322 10,024 Total $ 17,791 $ 17,920 Depreciation amounting to approximately $2.8 million, $1.7 million, and $1.1 million for the years ended December 31, 2019, 2018, and 2017, respectively, is included in occupancy and equipment expenses.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2019
GOODWILL AND OTHER INTANGIBLE ASSETS
GOODWILL AND OTHER INTANGIBLE ASSETS	NOTE H – GOODWILL AND OTHER INTANGIBLE ASSETS The table below summarizes the changes in carrying amounts of goodwill and other intangibles (core deposit intangibles) for the periods presented. Core Deposit Intangible Accumulated Goodwill Gross Amortization Net (dollars in thousands) Balance at January 1, 2017 $ 6,931 $ 3,219 $ (2,409) $ 810 Goodwill and core deposit intangible resulting from Premara merger 17,973 2,700 — 2,700 Amortization expense — — (409) (409) Balance at December 31, 2017 24,904 5,919 (2,818) 3,101 Adjustment of goodwill (325) — — — Amortization expense — — (1,016) (1,016) Balance at December 31, 2018 24,579 5,919 (3,834) 2,085 Core deposit intangible resulting from branch acquisition — 350 — 350 Amortization expense — — (825) (825) Balance at December 31, 2019 $ 24,579 $ 6,269 $ (4,659) $ 1,610 Goodwill represents the excess of the purchase price over the fair value of acquired net assets under the acquisition method of accounting. An adjustment to goodwill was made during 2018 as a result of a revision to the purchase accounting entry during the measurement period. The value of acquired core deposit relationships was determined using the present value of the difference between a market participant’s cost of obtaining alternative funds and the cost to maintain the acquired deposit base. The table below summarizes the remaining core deposit intangible amortization (dollars in thousands): 2020 $ 628 2021 435 2022 288 2023 147 2024 41 Thereafter 71 $ 1,610

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2019
DEPOSITS
DEPOSITS	NOTE I – DEPOSITS The scheduled maturities of time deposits at December 31, 2019 are as follows: Total Time Deposits (dollars in thousands) 2020 $ 332,254 2021 81,002 2022 10,764 2023 4,599 2024 641 Thereafter — $ 429,260 Time deposits with balances of more than $250,000 were $150.4 million and $120.8 million at December 31, 2019 and 2018, respectively.

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
	Dec. 31, 2019
REVENUE RECOGNITION
REVENUE RECOGNITION	NOTE J – REVENUE RECOGNITION On January 1, 2018, the Company adopted ASU No. 2014‑09, Revenue from Contracts with Customers (Topic 606), and all subsequent ASUs that modified Topic 606. As stated in Note B, Recent Accounting Pronouncements , the implementation of the new standard did not have a material impact on the measurement or recognition of revenue; as such, a cumulative effect adjustment to opening retained earnings was not deemed necessary. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while prior period amounts were not adjusted and continue to be reported in accordance with accounting policies employed under Topic 605. Topic 606 does not apply to revenue associated with financial instruments, including revenue from loans and securities. In addition, certain noninterest income streams such as fees associated with mortgage servicing rights, financial guarantees, derivatives, and certain credit card fees are also not in scope of the new guidance. Topic 606 is applicable to noninterest revenue streams such as trust and asset management income, deposit related fees, interchange fees, merchant income, and annuity and insurance commissions. However, the recognition of these revenue streams did not change significantly upon adoption of Topic 606. Substantially all of the Company’s revenue is generated from contracts with customers. Noninterest revenue streams in-scope of Topic 606 are discussed below. Service Charges on Deposit Accounts Service charges on deposit accounts consist of insufficient funds fees, account analysis fees (i.e., net fees earned on analyzed business and public checking accounts), monthly service fees, check orders, and other deposit account related fees. The Company’s performance obligation for account analysis fees and monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Check orders and other deposit account related fees are largely transactional based, and therefore, the Company’s performance obligation is satisfied, and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or in the following month through a direct charge to customers’ accounts. Other Fees and Income Other fees and income primarily consist of debit and credit card income, ATM fees, merchant services income, and other service charges. Debit and credit card income primarily consists of interchange fees earned whenever the Company’s debit and credit cards are processed through card payment networks such as Visa. ATM fees are primarily generated when a Company cardholder uses a non-Company ATM or a non-Company cardholder uses a Company ATM. Merchant services income mainly represents fees charged to merchants to process their debit and credit card transactions, in addition to account management fees. Other service charges include revenue from processing wire transfers, bill pay services, cashier’s checks, and other services. The Company’s performance obligation for fees, exchange, and other service charges are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or in the following month. Other fees and income also includes other recurring revenue streams such as safety deposit box rental fees and other miscellaneous revenue streams. Safe deposit box rental fees are charged to the customer on an annual basis and recognized upon receipt of payment. The Company determined that since rentals and renewals occur fairly consistently over time, revenue is recognized on a basis consistent with the duration of the performance obligation. The following presents noninterest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, for the year ended December 31, 2019, 2018 and 2017. December 31, December 31, December 31, 2019 2018 2017 (dollars in thousands) Service Charges on Deposit Accounts $ 1,161 $ 1,124 $ 899 Other 2,050 1,657 960 Noninterest Income (in-scope of Topic 606) 3,211 2,781 1,859 Noninterest Income (out-of-scope of Topic 606) 2,208 1,920 1,213 Total Non-interest Income $ 5,419 $ 4,701 $ 3,072 Contract Balances A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration (resulting in a contract receivable) or before payment is due (resulting in a contract asset). A contract liability balance is an entity’s obligation to transfer a service to a customer for which the entity has already received payment (or payment is due) from the customer. The Company’s noninterest revenue streams are largely based on transactional activity. Consideration is often received immediately or shortly after the Company satisfies its performance obligation and revenue is recognized. The Company does not typically enter into long-term revenue contracts with customers, and therefore, does not experience significant contract balances. As of December 31, 2019 and December 31, 2018, the Company did not have any significant contract balances. Contract Acquisition Costs In connection with the adoption of Topic 606, an entity is required to capitalize, and subsequently amortize into expense, certain incremental costs of obtaining a contract with a customer if these costs are expected to be recovered. The incremental costs of obtaining a contract are those costs that an entity incurs to obtain a contract with a customer that it would not have incurred if the contract had not been obtained (for example, sales commission). The Company utilizes the practical expedient which allows entities to immediately expense contract acquisition costs when the asset that would have resulted from capitalizing these costs would have been amortized in one year or less. Upon adoption of Topic 606, the Company did not capitalize any contract acquisition costs.

SHORT-TERM AND LONG-TERM DEBT

SHORT-TERM AND LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2019
SHORT-TERM AND LONG-TERM DEBT
SHORT-TERM AND LONG-TERM DEBT	NOTE K – SHORT-TERM AND LONG-TERM DEBT At December 31, 2019, the Company had no short-term debt and $57.4 million in long-term debt. Long-term debt consisted of $12.4 million in junior subordinated debentures and $45.0 million in Federal Home Loan Bank advances. The Federal Home Loan Bank advances are collateralized by $108.3 million of loans as of December 31, 2019. At December 31, 2018, the Company had $7.0 million in short-term debt and $57.4 million in long-term debt. Short-term debt consisted of $7.0 million in Federal Home Loan Bank advances. Long-term debt consisted of $12.4 million in junior subordinated debentures and $45.0 million in Federal Home Loan Bank advances. The Federal Home Loan Bank advances are collateralized by $142.3 million of loans as of December 31, 2018. At December 31, 2019, the Company had $45.0 million in advances from the Federal Home Loan Bank of Atlanta and no borrowings from the Federal Reserve Bank discount window. Advances consisted of the following at December 31, 2019: Amount Rate Maturity (dollars in thousands) Advance type: Fixed rate hybrid 20,000 2.53 % 2/2/2021 Fixed rate hybrid 10,000 2.89 % 4/12/2023 Fixed rate hybrid 5,000 2.94 % 5/30/2023 Fixed rate hybrid 10,000 2.97 % 6/28/2023 On September 20, 2004, $12.4 million of junior subordinated debentures were issued to New Century Statutory Trust I (“the Trust”) in exchange for the proceeds of trust preferred securities issued by the Trust. All of the Trust’s common equity is owned by the Company. The junior subordinated debentures are included in long-term debt and the Company’s equity interest in the Trust is included in other assets. The Company pays interest on the junior subordinated debentures at an annual rate, reset quarterly, equal to 3 month LIBOR plus 2.15%. The debentures are redeemable on September 20, 2009 or afterwards in whole or in part, on any March 20, June 20, September 20 or December 20. Redemption is mandatory at September 20, 2034. The Company has fully and unconditionally guaranteed repayment of the trust-preferred securities. The Company’s obligation under the guarantee is unsecured and subordinate to senior and subordinated indebtedness of the Company. The trust preferred securities qualify as Tier 1 capital for regulatory capital purposes subject to certain limitations, none of which were applicable at December 31, 2019. Lines of credit amounted to $238.9 million with various correspondent banks with $45.0 million outstanding and $173.9 million available as of December 31, 2019. Some of the lines of credit are secured and others unsecured with a variety of rates and terms.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2019
INCOME TAXES
INCOME TAXES	NOTE L - INCOME TAXES The significant components of the provision for income taxes for the years ended December 31, 2019, 2018 and 2017 are as follows: 2019 2018 2017 (dollars in thousands) Current tax provision: Federal $ 2,699 $ 2,366 $ 3,059 State 412 483 328 Total current tax provision 3,111 2,849 3,387 Deferred tax provision: Federal 575 943 2,328 State 10 118 (3) Total deferred tax provision 585 1,061 2,325 Net income tax provision $ 3,696 $ 3,910 $ 5,712 The difference between the provision for income taxes and the amounts computed by applying the statutory federal income tax rate of 21% for 2019 and 2018 and 34% for 2017 to income before income taxes is summarized below: 2019 2018 2017 (dollars in thousands) Income tax at federal statutory rate $ 3,513 $ 3,715 $ 3,025 Increase (decrease) resulting from: State income taxes, net of federal tax effect 333 475 214 Tax-exempt interest income (95) (99) (128) Income from life insurance (141) (144) (195) Incentive stock option expense 41 (2) 39 Merger expenses — 20 209 Impact of changes in tax rates — — 2,591 Other permanent differences 45 (55) (43) Provision for income taxes $ 3,696 $ 3,910 $ 5,712 Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of deferred taxes at December 31, 2019 and 2018 are as follows: 2019 2018 (dollars in thousands) Deferred tax assets relating to: Allowance for loan losses $ 1,913 $ 1,992 Deferred compensation 116 132 Unrealized losses on available-for-sale securities — (17) Net operating loss carryforwards 541 999 Acquisition accounting 1,024 1,107 Write-downs on foreclosed real estate 120 108 Other 229 269 Total deferred tax assets 3,943 4,590 Deferred tax liabilities relating to: Premises and equipment (796) (721) Deferred loan fees/costs (73) (67) Unrealized gains on available-for-sale securities (268) — Core deposit intangible (8) (140) Total deferred tax liabilities (1,145) (928) Net recorded deferred tax asset, included in other assets $ 2,798 $ 3,662 Deferred income taxes are measured at the enacted tax rate for the period in which they are expected to reverse. In December 2017 the U.S. Congress passed and the President signed legislation which reduced the statutory federal corporate tax rate to 21% effective January 1, 2018 and for all taxable years ending after that date. North Carolina also enacted legislation to reduce its corporate tax rate from 3.0% to 2.5% effective January 1, 2019. The impact of this change in tax rate was an additional income tax expense of $2.6 million for 2017. The Company had $2.6 million of net operating losses which can be carried forward and applied against future taxable income. If unused, these net operating losses will expire in 2027 through 2036. The Company’s policy is to report interest and penalties, if any, related to uncertain tax positions in income tax expense in the Consolidated Statements of Operations. With few exceptions, the Company is no longer subject to U.S. federal, state and local, or non-U.S. income tax examinations by tax authorities for years before 2014. As of December 31, 2019 and 2018, the Company has no uncertain tax positions. The Company’s net deferred tax asset was $2.8 million and $3.7 million at December 31, 2019 and 2018. In evaluating whether the Company will realize the full benefit of the net deferred tax asset, both positive and negative evidence are considered, including among other things recent earnings trends, projected earnings, and asset quality. As of December 31, 2019, management concluded that the Company’s net deferred tax assets were fully realizable. The Company will continue to monitor deferred tax assets closely to evaluate whether we will be able to realize the full benefit of our net deferred tax asset or whether there is any need for a valuation allowance. Significant negative trends in credit quality, losses from operations or other factors could impact the realization of the deferred tax asset in the future.

REGULATORY MATTERS

REGULATORY MATTERS	12 Months Ended
	Dec. 31, 2019
REGULATORY MATTERS
REGULATORY MATTERS	NOTE M - REGULATORY MATTERS The Company is subject to various regulatory capital requirements administered by federal and state banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possibly additional discretionary actions by regulators that, if undertaken, could have a material adverse effect on the Company’s consolidated financial statements. Quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios, as set forth in the table below. Management believes, as of December 31, 2019, that the Company meets all capital adequacy requirements to which it is subject. The Company’s significant assets are its investments in Select Bank & Trust Company and New Century Statutory Trust I. Regulatory authorities may limit payment of dividends by any bank when it is determined that such a limitation is in the public interest and is necessary to ensure financial soundness of the bank. The North Carolina Commissioner of Banks and the FDIC are also authorized to prohibit the payment of dividends under certain other circumstances. A significant measure of the strength of a financial institution is its capital base. Federal regulations have classified and defined capital into the following components: (1) Tier 1 capital, which includes common shareholders’ equity and qualifying preferred equity, and (2) Tier 2 capital, which includes a portion of the allowance for loan losses, certain qualifying long-term debt and preferred stock which does not qualify as Tier 1 capital. Financial institutions and holding companies became subject to the Basel III capital requirements beginning on January 1, 2015. A new part of the capital ratios profile is the Common Equity Tier 1 risk-based ratio which does not include limited life components such as trust preferred securities and Small Business Lending Fund (“SBLF”) preferred stock. Minimum capital levels are regulated by risk-based capital adequacy guidelines, which require a financial institution to maintain capital as a percentage of its assets, and certain off-balance sheet items adjusted for predefined credit risk factors (risk-adjusted assets). As the following tables indicate, at December 31, 2019 and 2018, the Company and its Bank subsidiary both exceeded minimum regulatory capital requirements as specified below. Minimum for capital Actual adequacy purposes The Company: Amount Ratio Amount Ratio December 31, 2019: (dollars in thousands) Total Capital (to Risk-Weighted Assets) $ 205,462 18.26 % $ 90,003 8.00 % Tier 1 Capital (to Risk-Weighted Assets) 197,138 17.52 % 67,502 6.00 % Common Equity Tier 1 (to Risk-Weighted Assets) 185,138 16.46 % 50,627 4.50 % Tier 1 Capital (to Average Assets) 197,138 15.84 % 49,777 4.00 % Minimum for capital Actual adequacy purposes The Company: Amount Ratio Amount Ratio December 31, 2018: (dollars in thousands) Total Capital (to Risk-Weighted Assets) $ 202,675 19.26 % $ 84,179 8.00 % Tier 1 Capital (to Risk-Weighted Assets) 194,006 18.44 % 63,135 6.00 % Common Equity Tier 1 (to Risk-Weighted Assets) 182,006 17.30 % 47,351 4.50 % Tier 1 Capital (to Average Assets) 194,006 15.65 % 49,576 4.00 % Select Bank & Trust Company’s actual capital amounts and ratios are presented in the table below as of December 31, 2019 and 2018: Minimum to be well Minimum for capital capitalized under prompt Actual adequacy purposes corrective action provisions The Bank: Amount Ratio Amount Ratio Amount Ratio December 31, 2019: (dollars in thousands) Total Capital (to Risk-Weighted Assets) $ 177,223 15.69 % $ 90,366 8.00 % 112,958 10.00 % Tier 1 Capital (to Risk-Weighted Assets) 168,899 14.95 % 67,775 6.00 % 90,366 8.00 % Common equity Tier 1 (to Risk-Weight Assets) 168,899 14.95 % 50,831 4.50 % 73,422 6.50 % Tier 1 Capital (to Average Assets) 168,899 13.59 % 49,730 4.00 % 62,162 5.00 % Minimum to be well Minimum for capital capitalized under prompt Actual adequacy purposes corrective action provisions The Bank: Amount Ratio Amount Ratio Amount Ratio December 31, 2018: (dollars in thousands) Total Capital (to Risk-Weighted Assets) $ 162,507 15.45 % $ 84,124 8.00 % 105,156 10.00 % Tier 1 Capital (to Risk-Weighted Assets) 153,838 14.63 % 63,093 6.00 % 84,124 8.00 % Common equity Tier 1 (to Risk-Weight Assets) 153,838 14.63 % 47,320 4.50 % 68,351 6.50 % Tier 1 Capital (to Average Assets) 153,838 12.42 % 49,557 4.00 % 61,947 5.00 % During 2004, the Company issued $12.4 million of junior subordinated debentures to a newly formed subsidiary, New Century Statutory Trust I, which in turn issued $12.0 million of trust preferred securities. The proceeds from the sale of the trust preferred securities provided additional capital for the growth and expansion of the Bank. Under the current applicable regulatory guidelines, all of the proceeds from the issuance of these trust preferred securities qualify as Tier 1 capital as of December 31, 2019. Management expects that the Bank will remain “well capitalized” for regulatory purposes, although there can be no assurance that additional capital will not be required in the future.

OFF-BALANCE SHEET RISK

OFF-BALANCE SHEET RISK	12 Months Ended
	Dec. 31, 2019
OFF-BALANCE SHEET RISK
OFF-BALANCE SHEET RISK	NOTE N - OFF-BALANCE SHEET RISK The Company is a party to financial instruments with off-balance sheet credit risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and letters of credit. Those instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the balance sheet. The contract or notional amounts of those instruments reflect the extent of involvement the Company has in particular classes of financial instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance-sheet instruments. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of conditions established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since some of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company, upon extension of credit is based on management’s credit evaluation of the borrower. Collateral obtained varies but may include real estate, stocks, bonds, and certificates of deposit. A summary of the contract amount of the Company’s exposure to off-balance sheet credit risk as of December 31, 2019 is as follows: Financial instruments whose contract amounts represent credit risk: (In thousands) Undisbursed commitments $ 234,191 Letters of credit 2,367 The Company has legally binding delayed equity commitments to private investment funds. These commitments are not expected to be called, and therefore, are not reflected in the financial statements. The amount of these commitments at December 31, 2019 and 2018 was $425,000 and $425,000, respectively.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2019
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	NOTE O – FAIR VALUE MEASUREMENTS ASC 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 does not require any new fair value measurements, but clarifies and standardizes some divergent practices that have emerged since prior guidance was issued. ASC 820 creates a three-level hierarchy under which individual fair value estimates are to be ranked based on the relative reliability of the inputs used in the valuation. Fair value estimates are made at a specific moment 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. The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value: Fair Value Hierarchy The Company groups assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are: · Level 1 – Valuation is based upon quoted prices for identical instruments traded in active markets. · Level 2 – Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market. · Level 3 – Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flows models and similar techniques. The following is a description of valuation methodologies used for assets and liabilities recorded at fair value on a recurring basis. Investment Securities Available-for-Sale Investment securities available-for-sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted prices, if available. If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange, U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter markets and money market funds. Level 2 securities include U.S. government agencies – GSE’s, mortgage-backed securities issued by GSE’s, corporate bonds and municipal bonds. Valuation techniques are consistent with methodologies used in prior periods. The following tables summarize quantitative disclosures about the fair value measurement for each category of assets carried at fair value on a recurring basis as of December 31, 2019 and December 31, 2018 (dollars in thousands): Quoted Prices in Significant Investment securities Active Markets Other Significant available for sale for Identical Observable Unobservable December 31, 2019 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) U.S. government agencies – GSE’s $ 9,996 $ — $ 9,996 $ — Mortgage-backed securities – GSE’s 47,743 — 47,743 — Corporate Bonds 2,299 — 2,299 — Municipal bonds 12,329 — 12,329 — Total investment available for sale $ 72,367 $ — $ 72,367 $ — Quoted Prices in Significant Investment securities Active Markets Other Significant available for sale for Identical Observable Unobservable December 31, 2018 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) U.S. government agencies – GSE’s $ 9,837 $ — $ 9,837 $ — Mortgage-backed securities – GSE’s 22,983 — 22,983 — Corporate Bonds 1,722 — 1,722 — Municipal bonds 16,991 — 16,991 — Total investment available for sale $ 51,533 $ — $ 51,533 $ — The following are descriptions of valuation methodologies used for assets and liabilities recorded at fair value on a non-recurring basis. Loans The Company does not record loans at fair value on a recurring basis. However, from time to time, a loan is considered impaired and a specific reserve in the allowance for loan losses is established. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, management measures impairment in accordance with ASC 310, “Receivables”. The fair value of impaired loans is estimated using one of several methods, including collateral value, market value of similar debt, enterprise value, or liquidation value and discounted cash flows. Those impaired loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceed the recorded investments in such loans. At December 31, 2019, and 2018, substantially all of the total impaired loans were evaluated based on the fair value of the collateral. Impaired loans where a specific reserve is established based on the fair value of collateral require classification in the fair value hierarchy. When the fair value of the collateral is based on an observable market price or a current appraised value, the Company records the impaired loan as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price, the Company records the impaired loan as nonrecurring Level 3. There were no transfers between levels from prior reporting periods. Valuation techniques are consistent with prior periods. The significant unobservable inputs used in the fair value measurement of the Company’s impaired loans range between 1 – 50% and 5 – 50% discount from appraisals for expected liquidation and sales costs at December 31, 2019 and 2018. Foreclosed Real Estate Foreclosed real estate are properties recorded at estimated fair value, less the estimated costs to sell, at the date of foreclosure. Inputs include appraised values on the properties or recent sales activity for similar assets in the property’s market adjusted by discounts as determined by the Company. Therefore, foreclosed real estate is classified within Level 3 of the hierarchy. Valuation techniques are consistent with prior periods. The significant unobservable input used in the fair value measurement of the Company’s foreclosed real estate range between 6% – 10% discount from appraisals for expected liquidation and sales costs at both December 31, 2019 and 2018, respectively. Assets held for sale During 2015, a branch facility was taken out of service as part of the Company’s branch restructuring plan and reclassified as held for sale. The property is recorded at the remaining book balance of the asset or an estimated fair value less estimated selling costs, whichever is less. Inputs include appraised values on the properties or recent sales activity for similar assets in the property’s market. The significant unobservable input used is the discount applied to appraised values to account for expected liquidation and selling costs ranged between 1% and 25 % at December 31, 2018. The branch was sold in 2019. The following tables summarize quantitative disclosures about the fair value measurement for each category of assets carried at fair value on a nonrecurring basis as of December 31, 2019 and December 31, 2018 (dollars in thousands): Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Asset Category December 31, 2019 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Impaired loans $ 5,941 $ — $ — $ 5,941 Foreclosed real estate 3,533 — — 3,533 Total $ 9,474 $ — $ — $ 9,474 Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Asset Category December 31, 2018 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Impaired loans $ 7,257 $ — $ — $ 7,257 Assets held for sale 668 — — 668 Foreclosed real estate 1,088 — — 1,088 Total $ 9,013 $ — $ — $ 9,013 As of December 31, 2019, the Bank identified $11.2 million in impaired loans, of which $5.9 million were carried at fair value on a non-recurring basis which included $972,000 in loans that required a specific reserve of $413,000, and an additional $438,000 in other loans without specific reserves that had partial charge-offs. As of December 31, 2018, the Bank identified $11.7 million in impaired loans, of which $7.3 million were carried at fair value on a non-recurring basis which included $291,000 in loans that required a specific reserve of $87,000, and an additional $595,000 in other loans without specific reserves that had partial charge-offs. Financial instruments include cash and due from banks, interest-earning deposits with banks, investments, loans, deposit accounts and borrowings. Due to the nature of the Company’s business, a significant portion of its assets and liabilities consist of financial instruments, the estimated values of which are disclosed. 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 active market readily exists for a 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 could significantly affect the estimates. The following table presents the carrying values and estimated fair values of the Company’s financial instruments at December 31, 2019 and 2018: December 31, 2019 Carrying Estimated Amount Fair Value Level 1 Level 2 Level 3 (dollars in thousands) Financial assets: Cash and due from banks $ 19,110 $ 19,110 $ 19,110 $ — $ — Interest-earning deposits in other banks 50,920 50,920 50,920 — — Federal funds sold 9,047 9,047 9,047 — — Investment securities available for sale 72,367 72,367 — 72,367 — Loans held for sale 928 928 — 928 — Loans, net 1,021,651 1,016,239 — — 1,016,239 Accrued interest receivable 4,189 4,189 — 4,189 — Stock in the FHLB 3,045 3,045 — — 3,045 Other non-marketable securities 719 719 — — 719 Financial liabilities: Deposits $ 992,838 $ 995,056 $ — $ 995,056 $ — Long-term debt 57,372 55,429 — 55,429 — Accrued interest payable 578 578 — 578 — December 31, 2018 Carrying Estimated Amount Fair Value Level 1 Level 2 Level 3 (dollars in thousands) Financial assets: Cash and due from banks $ 17,059 $ 17,059 $ 17,059 $ — $ — Certificates of deposits 1,000 1,000 1,000 — — Interest-earning deposits in other banks 121,303 121,303 121,303 — — Investment securities available for sale 51,533 51,533 — 51,533 — Loans held for sale 580 580 — 580 — Loans, net 977,371 970,330 — — 970,330 Accrued interest receivable 3,889 3,889 — 3,889 — Stock in the FHLB 3,283 3,283 — — 3,283 Other non-marketable securities 762 762 — — 762 Assets held for sale 668 668 — — 668 Financial liabilities: Deposits $ 980,427 $ 979,570 $ — $ 979,570 $ — Short-term debt 7,000 7,000 — 7,000 — Long-term debt 57,372 55,504 — 55,504 — Accrued interest payable 667 667 — 667 —

EMPLOYEE AND DIRECTOR BENEFIT P

EMPLOYEE AND DIRECTOR BENEFIT PLANS	12 Months Ended
	Dec. 31, 2019
EMPLOYEE AND DIRECTOR BENEFIT PLANS
EMPLOYEE AND DIRECTOR BENEFIT PLANS	NOTE P - EMPLOYEE AND DIRECTOR BENEFIT PLANS 401(k) Plan The Company has a 401(k) Plan and substantially all employees participate in the plan. The Company matches 100% of the first 6% of an employee’s compensation contributed to the plan. Expenses attributable to the plan amounted to $698,000, $639,000, and $465,000 for the years ended December 31, 2019, 2018 and 2017, respectively. Employment Agreements The Company has entered into employment agreements with five executive officers to promote a stable and competent management base. These agreements provide for benefits as specified in the contracts and cannot be terminated by the Board of Directors, except for cause, without prejudicing the officer’s right to receive certain vested rights, including compensation. In the event of a change in control of the Company, as outlined in the agreements, the acquirer will generally be bound by the terms of those contracts. Supplemental Executive Retirement Plans The Company implemented a nonqualified supplemental executive retirement plan for the former Chief Executive Officer during 2003. Benefits accrue and vest during the period of employment, and will be paid in monthly benefit payments over the officer’s life after retirement. Provisions of $81,000, $36,000, and $53,000 were expensed for future benefits to be provided under this plan during 2019, 2018 and 2017, respectively. In conjunction with the implementation of this plan, the Company has purchased life insurance on certain key officers to help offset plan accruals. The life insurance policies provide the payment of a death benefit in the event an insured officer dies prior to attainment of retirement age. The total liability under this plan at December 31, 2019 and 2018 was $24,000 and $85,000, respectively. As part of the acquisition of Progressive State Bank (“Progressive”), the Company assumed a liability for the supplemental early retirement plan for Progressive’s Chief Executive Officer. Provisions of $81,000, $(35,000), and $36,000 and were expensed in 2019, 2018 and 2017, resulting in a total liability of $265,000 and $286,000 as of December 31, 2019 and 2018, respectively. Due to the plan having a tax gross up feature that was impacted by lower tax rates under the Tax Act, the Company recorded a negative provision for 2018. Corresponding to this liability, Progressive had purchased a life insurance policy on a key officer to help offset the expense associated with future benefit payments. This policy was acquired by the Company upon its acquisition of Progressive. The Company approved a supplemental executive retirement plan for two of its executives in 2019. Provisions of $64,000 were expensed during 2019 resulting in a total liability of $64,000. Proceeds from purchased life insurance on certain key officers were used to offset plan accruals. Directors Deferred Compensation The Company has instituted a Directors’ Deferral Plan (“Deferral Plan”) whereby individual directors may elect annually to defer receipt of all or a designated portion of their directors’ fees for the coming year. Amounts so deferred are used to purchase shares of the Company’s common stock on the open market by the administrator of the Deferral Plan or to issue shares from the Company’s authorized but unissued shares, with such deferred compensation disbursed in the future as specified by the director at the time of his or her deferral election. All deferral amounts and matching contributions, if any, are paid into a rabbi trust with a separate account for each participant under the plan. Net compensation and other expenses attributable to this plan for the years ended December 31, 2019, 2018 and 2017 were $200,000, $97,000, and $178,000, respectively. The Directors’ Deferral Plan was amended and restated on September 22, 2015 to ensure compliance with applicable regulations and to provide that the eventual payment of compensation deferred under the plan may be made only in the form of the Registrant’s common stock. A liability of $2.8 million and $2.6 million related to this plan is included in shareholders’ equity for December 31, 2019 and 2018, respectively. Equity-Based Compensation Plans The Company utilizes equity-based awards as a component of its compensation of employees and directors. These equity-based awards may be in the form of incentive stock options, nonstatutory stock options, stock appreciation rights, restricted stock awards, or restricted stock unit awards. Awards are granted pursuant to the Company’s equity-based compensation plans. The Company’s shareholders approved all equity-based compensation plans. At December 31, 2019, the Company had awards outstanding under its 2004 Incentive Stock Option Plan, 2008 Omnibus Stock Ownership and Long Term Incentive Plan (the “2008 Omnibus Plan”), 2010 Omnibus Stock Ownership and Long Term Incentive Plan (the “2010 Omnibus Plan”), and 2018 Omnibus Stock Incentive Plan (the “2018 Omnibus Plan”). As of December 31, 2019, the Company had awards covering 13,000 shares outstanding under the 2004 Incentive Stock Option Plan, awards covering 33,200 shares outstanding under the 2008 Omnibus Plan, awards covering 163,700 shares outstanding under the 2010 Omnibus Plan, and awards covering 58,500 shares outstanding under the 2018 Omnibus Plan. The 2018 Omnibus Plan became effective upon the approval of shareholders on May 22, 2018. As of December 31, 2019, the 2018 Omnibus Plan was the only plan that had shares available for future grants, and there were 568,900 shares remaining available for grant. All other plans have been frozen as to new grants. In 2019, the Company awarded fully vested stock grants under the 2018 Omnibus Plan of 10,569 common shares to its independent directors. The value of the stock grant totaled $130,000 with each director receiving 813 shares. For years when stock options were granted the estimated weighted average fair market value of each option awarded, using the Black-Scholes option pricing model, together with the assumptions used in estimating those weighted average fair values, are displayed below: 2019 2018 2017 Estimated fair value of options granted $ 5.99 $ 6.07 $ 5.47 Assumptions in estimating average option values: Risk-free interest rate 2.59 % 2.94 % 2.07 % Dividend yield — % — % — % Volatility 42.18 % 36.67 % 42.42 % Expected life (in years) 8.00 8.00 8.00 A summary of the Company’s option plans as of and for the year ended December 31, 2019 is as follows: Outstanding Options Exercisable Options Shares Weighted Weighted Available Average Average for Future Number Exercise Number Exercise Grants Outstanding Price Outstanding Price At December 31, 2018 597,500 239,955 $ 8.63 113,013 $ 6.71 Options granted/vested (58,500) 58,500 — 35,660 — Stock grants (10,569) — 12.30 — — Options exercised 26,813 (26,813) 8.50 (26,813) 8.50 Options expired — — — — — Options forfeited 3,100 (3,100) 10.92 (200) $ 5.25 At December 31, 2019 568,913 268,542 $ 9.55 121,660 $ 7.80 The aggregate intrinsic value of options outstanding as of December 31, 2019 and 2018 was $740,000 and $900,000, respectively. The aggregate intrinsic value of options exercisable as of December 31, 2019 and 2018 was $548,000 and $641,000, respectively. The unrecognized compensation expense for outstanding options at December 31, 2019, 2018, and 2017 was $460,000, $642,000, and $768,000, respectively. As of December 31, 2019, this cost is expected to be recognized over a weighted average period of 1.62 years. The weighted average remaining life of options outstanding and options exercisable as of December 31, 2019 was 6.57 years and 4.85 years, respectively. The weighted average remaining life of options outstanding and options exercisable as of December 31, 2018 was 6.57 years and 4.75 years, respectively. Information regarding the stock options outstanding at December 31, 2019 is summarized below: Number Number of options of options Range of Exercise Prices outstanding exercisable $2.25 - $7.07 67,922 62,920 $7.08 - $10.69 41,620 18,040 $10.70 - $12.99 159,000 40,700 Outstanding at end of year 268,542 121,660 A summary of the status of the Company’s non-vested options as of December 31, 2019 and changes during the year ended December 31, 2019, is presented below: Weighted-Average Grant Date Non-vested Options Options Fair Value Non-vested at December 31, 2018 126,942 $ 5.16 Granted 58,500 5.99 Vested (35,660) 5.02 Expired — — Forfeited (3,100) 5.55 Non-vested at December 31, 2019 146,882 5.51 For the years ended December 31, 2019, 2018 and 2017, the intrinsic value of options exercised was $148,000, $213,000 and $197,000, respectively. For the years ended December 31, 2019, 2018 and 2017, the grant-date fair value of options vested was $179,000, $181,000, and $66,000, respectively. In addition, there were no stock options acquired in the Premara merger. For the years ended December 31, 2019 and 2018, respectively, $68,000 and $79,000 in tax benefits were recognized from non-qualified stock option exercises.

PARENT COMPANY FINANCIAL DATA

PARENT COMPANY FINANCIAL DATA	12 Months Ended
	Dec. 31, 2019
PARENT COMPANY FINANCIAL DATA
PARENT COMPANY FINANCIAL DATA	NOTE Q - PARENT COMPANY FINANCIAL DATA Following are the condensed balance sheets of Select Bancorp as of and for the years ended December 31, 2019 and 2018 and the related condensed statements of operations and cash flows for each of the years in the three-year period ended December 31, 2019: Condensed Balance Sheets December 31, 2019 and 2018 (dollars in thousands) 2019 2018 Assets Cash balances with Select Bank & Trust $ 22,556 $ 34,949 Investment in Select Bank & Trust 196,536 181,442 Investment in New Century Statutory Trust I 598 580 Other assets 5,711 5,255 Total Assets $ 225,401 $ 222,226 Liabilities and Shareholders’ Equity Junior subordinated debentures $ 12,372 $ 12,372 Accrued interest and other liabilities 254 243 Total Liabilities 12,626 12,615 Shareholders’ equity: Preferred stock - — Common stock 18,330 19,312 Additional paid-in capital 140,870 150,718 Retained earnings 52,675 39,640 Common stock issued to deferred compensation trust (2,815) (2,615) Directors’ Deferred Compensation Plan Rabbi Trust 2,815 2,615 Accumulated other comprehensive income (loss) 900 (59) Total Shareholders’ Equity 212,775 209,611 Total Liabilities and Shareholders’ Equity $ 225,401 $ 222,226 Condensed Statements of Operations Years Ended December 31, 2019, 2018 and 2017 (dollars in thousands) 2019 2018 2017 Equity in earnings of subsidiaries $ 14,153 $ 39,153 $ (9,236) Dividends received for subsidiary — (25,000) — Dividends in excess of earnings 434 642 13,291 Operating expense (1,862) (1,275) (1,175) Income tax benefit 310 262 305 Net income $ 13,035 $ 13,782 $ 3,185 Condensed Statements of Cash Flows Years Ended December 31, 2019, 2018 and 2017 (dollars in thousands) 2019 2018 2017 CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 13,035 $ 13,782 $ 3,185 Equity in undistributed income of subsidiaries (14,153) (39,153) 9,236 Stock based compensation 369 178 115 Net change in other assets (456) (283) (315) Net change in other liabilities 11 (12,185) 12,066 Net cash provided by (used in) operating activities (1,194) (37,661) 24,287 CASH FLOWS FROM INVESTING ACTIVITIES Cash received from acquisition — — 257 Investment in subsidiary — — (12,407) Net cash used in investing activities — — (12,150) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from stock option exercises 228 187 166 Repurchase of common stock (11,427) — — Proceeds from the issuance of common stock — 63,250 — Direct expenses related to capital transaction — (3,444) — Net cash provided by (used in) financing activities (11,199) 59,993 166 Net (decrease) increase in cash and cash equivalents (12,393) 22,332 12,303 Cash and cash equivalents at beginning of year 34,949 12,617 314 Cash and cash equivalents, end of year $ 22,556 $ 34,949 $ 12,617

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2019
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	NOTE R - RELATED PARTY TRANSACTIONS The Bank has had, and expects to have in the future, banking and other transactions in the ordinary course of business with certain of its current directors, nominees for director, executive officers and associates. All such transactions are made on substantially the same terms, including interest rates, repayment terms and collateral, as those prevailing for comparable transactions with persons not related to the lender, and do not involve more than the normal risk of collection or present other unfavorable features. The Bank has loan transactions with its directors and executive officers in the regular course of business. Such loans were made in the ordinary course of business and on substantially the same terms and collateral as those for comparable transactions prevailing at the time and did not involve more than the normal risk of collectability or present other unfavorable features. The following table represents loan transactions for directors and executive officers who held that position as of December 31, 2019 and 2018. A summary of related party loan transactions, is as follows: 2019 2018 (dollars in thousands) Balance at January 1 $ 12,658 $ 13,520 Exposure of directors/executive officers added — — Borrowings 5,110 1,312 Directors/executive officers resigned or retired from board (647) — Loan repayments (9,894) (2,174) Balance at December 31 $ 7,227 $ 12,658 At December 31, 2019, there was $2.8 million of unused lines of credit outstanding to directors and executive officers of the Company and its subsidiaries. Directors and executive officers had $35.5 million deposited with the Company at December 31, 2019.

CAPITAL TRANSACTIONS

CAPITAL TRANSACTIONS	12 Months Ended
	Dec. 31, 2019
CAPITAL TRANSACTIONS
CAPITAL TRANSACTIONS	NOTE S – CAPITAL TRANSACTIONS Common Stock On August 27, 2018, the Company and the Bank entered into an underwriting agreement (the “Underwriting Agreement”) with FIG Partners, LLC, as the underwriter named therein (the “Underwriter”), pursuant to which the Company agreed to issue and sell to the Underwriter and the Underwriter agreed to purchase, subject to and upon the terms and conditions of the Underwriting Agreement, an aggregate of 4,583,334 shares of the Company’s common stock, par value $1.00 per share, at a public offering price of $12.00 per share less underwriting discounts and commissions in an underwritten public offering (the “Offering”). The Company granted the Underwriter an option for a period of 30 days after the date of the Underwriting Agreement to purchase up to an additional 687,500 shares of common stock at the public offering price. The Underwriter exercised its option in full resulting in a total of 5,270,834 shares of common stock being issued and sold in the Offering. The Offering closed on August 30, 2018. The net proceeds to the Company, after deducting underwriting discounts and commissions and offering expenses, were approximately $59.8 million. In addition to the Offering, during 2017 the capital of the Company also increased due to the acquisition of Premara and its subsidiary bank, Carolina Premier Bank, on December 15, 2017. Premara had 3,179,808 shares of common stock outstanding as of the merger closing date. Under the terms of the merger agreement, 948,080 shares of Premara common stock (equivalent to 30% of Premara’s outstanding shares of common stock as of the date of the merger agreement) were converted to the $12.65 per share cash merger consideration, for aggregate cash consideration of $11,993,212 (exclusive of cash paid-in-lieu of fractional shares). The remaining 2,231,728 Premara common shares were converted into stock consideration at the merger exchange ratio of 1.0463 shares of Company common stock for each share of Premara common stock, resulting in the issuance of 2,334,999 new shares of Company common stock in the merger. In August of 2016 the Board of Directors approved a common stock repurchase plan in which 581,518 shares were authorized for repurchase at management’s discretion. During the second quarter of 2019 the Company began repurchasing shares and by September 10, 2019 had repurchased all authorized shares. On September 17, 2019 the Board of Directors approved Plan 2 which authorized the repurchase of 937,248 shares of common stock. In the third and fourth quarters of 2019 the Company repurchased 426,742 shares and has 510,506 shares remaining in Plan 2.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2019
LEASES
LEASES	NOTE T – LEASES The Company has operating leases for branches and certain equipment. The Company’s leases have remaining lease terms of 1 year to 15 years which may include options to extend the leases for up to 5 years per option period. The Company has some leases that are month to month or expire within 1 year that are not included below. At December 31, 2019, the Company did not have any leases that had not yet commenced for which the Company had created a ROU asset and a lease liability. For the operating leases the Company has elected the practical expedient of not separating lease components from non-lease components and instead to account for each separate lease component and the non-lease components associated with that lease as a single lease component. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. Most of the lease agreements include periodic rate adjustments for inflation. Most leases include one or more options to renew, with renewal terms that can extend the lease term from 1 to 25 years. The exercise of lease renewal options is at our sole discretion. When it is reasonably certain that the Company will exercise the option to renew or extend the lease term, that option is included in determining the value of the ROU asset and lease liability. The Company has operating leases for its corporate offices and branches that expire at various times through 2034. Future minimum lease payments under the leases for years subsequent to December 31, 2019 are as follows: Total Lease Payments (dollars in thousands) 2020 $ 1,071 2021 1,097 2022 1,128 2023 1,063 2024 996 Years thereafter 6,400 $ 11,755 During 2019, 2018, and 2017, payments under operating leases were approximately $1.1 million, $1.2 million, and $408,000, respectively. Lease expense was accounted for on a straight line basis. Rental income earned on office space leased to third parties was $449,000, $426,000 and $148,000 for 2019, 2018 and 2017, respectively. The components of lease expense were as follows (dollars in thousands): December 31, 2019 Operating lease cost $ 1,054 Supplemental cash flow information related to leases was as follows: December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,054 Right-of-use assets obtained in exchange for lease obligations: Operating leases 8,596 The following table presents the remaining weighted average lease terms and discount rates as of December 31, 2019: Weighted Average Remaining Lease Term Operating leases years Weighted Average Discount Rate Operating leases % Maturities of lease liabilities were as follows: Operating (In thousands) Leases Year Ending December 31, 2020 $ 580 2021 642 2022 714 2023 693 2024 665 Thereafter 5,150 Lease payments 8,444 Amounts representing interest Present Value of Net Future Minimum Lease Payments 8,175

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2019
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE U – SUBSEQUENT EVENTS The Company has evaluated for subsequent events through the date and time the financial statements were issued and has determined there are no reportable subsequent events.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the 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. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses, business combinations, goodwill, deferred tax assets and the valuation of other real estate owned
Business Combinations	Business Combinations Business combinations are accounted for under the acquisition method of accounting in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 805, “Business Combinations .” Under the acquisition method, the acquiring entity in a business combination recognizes all of the acquired assets and assumed liabilities at their estimated fair values as of the date of acquisition. Any excess of the purchase price over the fair value of net assets and other identifiable intangible assets acquired is recorded as goodwill. To the extent the fair value of net assets acquired, including identified intangible assets, exceeds the purchase price, a bargain purchase gain is recognized. Assets acquired and liabilities assumed from contingencies must also be recognized at fair value if the fair value can be determined during the measurement period. Results of operations of an acquired business are included in the Statement of Operations from the date of acquisition. Acquisition-related costs, including conversion and restructuring charges, are expensed as incurred. The acquired assets and assumed liabilities are recorded at estimated fair values. Management makes significant estimates and exercises significant judgment in accounting for business combinations. Management uses its judgment to assign risk ratings to loans based on credit quality, appraisals and estimated collateral values, and estimated expected cash flows to measure fair values for loans. Real estate acquired in settlement of loans is valued based upon pending sales contracts and appraised values, adjusted for current market conditions. Core deposit intangibles are valued based on a weighted combination of the income and market approach where the income approach converts anticipated economic benefits to a present value and the market approach evaluates the market in which the asset is traded to find an indication of prices from actual transactions. Management uses quoted or current market prices to determine the fair value of investment securities. Fair values of deposits and borrowings are based on current market interest rates and are inclusive of any applicable prepayment penalties
Cash and Due from Banks, Interest-Earning Deposits in Other Banks and Federal Funds Sold	Cash and Due from Banks, Interest-Earning Deposits in Other Banks and Federal Funds Sold For the purpose of presentation in the statements of cash flows, cash and cash equivalents are defined as those amounts included in the balance sheet captions “Cash and due from banks,” “Interest-earning deposits in other banks,” “Certificates of deposit” and “Federal funds sold.”
Certificates of Deposit	Certificates of Deposit Certificates of deposit are cash instruments that management has the intent and ability to hold for the foreseeable future or until maturity and are reported at cost
Investment Securities Available for Sale	Investment Securities Available for Sale Investment securities available for sale are reported at fair value and consist of debt instruments that are not classified as either trading securities or as held to maturity securities. Unrealized holding gains and losses, net of deferred income tax, on available for sale securities are reported as a net amount in accumulated other comprehensive income. Gains and losses on the sale of investment securities available for sale are determined using the specific-identification method
Loans	Loans Loans that management has the intent and ability to hold for the foreseeable future or until maturity are reported at their outstanding principal balance adjusted for any charge-offs, the allowance for loan losses, and any deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. Loan origination fees and certain direct origination costs are capitalized and recognized as an adjustment of the yield of the related loan. The accrual of interest on impaired loans is discontinued when, in management’s opinion, the borrower may be unable to meet payment obligations as they become due. When interest accrual is discontinued, all unpaid accrued interest is reversed. Interest income is subsequently recognized only to the extent cash payments are received in excess of principal due. Loans are returned to accrual status when all of the principal and interest amounts contractually due are brought current and future payments are reasonably assured. The acquired loans are segregated between those considered to be performing (“acquired performing”) and those with evidence of credit deterioration based on such factors as past due status, nonaccrual status and credit risk ratings (“purchased credit-impaired loans”). In determining the acquisition date fair value of purchased credit-impaired (“PCI”) loans, and in subsequent accounting, the Company generally aggregates purchased loans into pools of loans with common risk characteristics within the following loan categories: 1‑to‑4 family residential loans other than junior liens, 1‑to‑4 family residential junior liens, construction and land development, farm land, commercial real estate (nonowner-occupied), commercial real estate (owner-occupied), commercial and industrial, and all other loan categories. Expected cash flows at the acquisition date in excess of the fair value of loans are referred to as the “accretable yield” and recorded as interest income over the life of the loans using a level yield method if the timing and amount of the future cash flows of the pool is reasonably estimable. Subsequent to the acquisition date, significant increases in cash flows over those expected at the acquisition date are recognized as interest income prospectively. Accordingly, such loans are not classified as nonaccrual and they are considered to be accruing because their interest income relates to the accretable yield recognized under accounting for PCI loans and not to contractual interest payments. The difference between the contractually required payments and the cash flows expected to be collected at acquisition, considering the impact of prepayments, is referred to as the nonaccretable difference. The difference between the fair value of an acquired performing loan pool and the contractual amounts due at the acquisition date (the “fair value discount”) is accreted into income over the estimated life of the pool. The Company’s policy for determining when to discontinue accruing interest on acquired performing loans and the subsequent accounting for such loans is essentially the same as the policy for originated loans described earlier. Loans are deemed uncollectible based on a variety of credit, collateral, documentation and other issues. In the case where a loan is unsecured and in default, it is fully charged off.
Non-accrual Loans	Non-accrual Loans Loans are placed on non-accrual when it has been determined that all contractual principal and interest will not be received. Any payments received on these loans are applied to principal first and then to interest only after all principal has been collected. Impaired loans include all loans in non-accrual status, all troubled debt restructures, all substandard loans that are deemed to be collateral dependent, and other loans that management determines require impairment. In the case of an impaired loan that is still on accrual basis, payments are applied to both principal and interest.
Allowance for Loan Losses	Allowance for Loan Losses The provision for loan losses is based upon management’s estimate of the amount needed to maintain the allowance for loan losses at an adequate level in light of the risk inherent in the loan portfolio. In making the evaluation of the adequacy of the allowance for loan losses, management gives consideration to current economic conditions, statutory examinations of the loan portfolio by regulatory agencies, delinquency information and management’s internal review of the loan portfolio. Loans are considered impaired when it is probable that all amounts due will not be collected in accordance with the contractual terms of the loan agreement. The measurement of impaired loans is generally based on the present value of expected future cash flows discounted at the historical effective interest rate, or upon the fair value of the collateral if the loan is collateral-dependent. If the recorded investment in the loan exceeds the measure of fair value, a valuation allowance is established as a component of the allowance for loan losses. Interest payments on impaired loans are typically applied to principal unless collectability of the principal amount is reasonably assured, in which case, interest is recognized on a cash basis. Impaired loans, or portions thereof, are charged off when deemed uncollectible. While management uses the best information available to make evaluations, future adjustments to the allowance may be necessary if conditions differ substantially from the assumptions used in making the evaluations. In addition, regulatory examiners may require the Company to recognize adjustments to the allowance for loan losses based on their judgments about information available to them at the time of their examination. Decreases in expected cash flows of PCI loans after the acquisition date are recognized by recording an allowance for credit loss. For any significant increases in cash flows expected to be collected, the Company first adjusts any prior recorded allowance for loan and lease losses through a reversal of previously recognized allowance through provision expense, and then increases the amount of accretable yield to be recognized on a prospective basis over the pool’s remaining life. Management analyzes these acquired loan pools using various assessments of risk to determine and calculate an expected loss. The expected loss is derived using an estimate of a loss given default based upon the collateral type and/or specific review by loan officers. Trends are reviewed in terms of traditional credit metrics such as accrual status, past due status, and weighted average risk grade of the loans within each of the accounting pools. In addition, the relationship between the change in the unpaid principal balance and change in the fair value mark is assessed to correlate the directional consistency of the expected loss for each pool.
Loans Held for Sale	Loans Held for Sale Mortgage loans originated and intended for sale in the secondary market are classified as held for sale and are carried at the lower of cost or fair value. Upon closing, these loans are sold to mortgage loan investors under pre-arranged terms. Origination fees are recognized upon the sale and are included in non-interest income. Related to the mortgage business, the Company enters into interest rate lock commitments and commitments to sell mortgages to investors. Interest rate lock commitments are used to manage interest rate risk associated with the fixed rate loan commitments, and forward sale commitments are entered into with investors to manage the interest rate risk associated with the customer interest rate lock commitments, both of which are considered derivative financial instruments. The period of time between the issuance of a loan commitment and the closing and sale of the loan generally ranges from 10 to 60 days. Interest rate lock commitments and forward sale commitments are derivative instruments and are carried at fair value. These derivative instruments do not qualify for hedge accounting. The fair value of interest rate lock commitments is based on current secondary market pricing and has been determined to be immaterial. The fair value of the forward sale commitments is based on changes in the value of the commitment, principally because of changes in interest rates, and is included on the consolidated balance sheets in other assets or other liabilities. Changes in fair value for these instruments are reflected in non-interest income on the income statement. Gains and losses from sales of the mortgage loans are recognized when the Company ultimately sells the loans, and such gains and losses are also recorded in non-interest income. The Company does not retain servicing rights of the loans sold and has not included any servicing assets in other assets or recorded any expenses or revenue
Stock in Federal Home Loan Bank of Atlanta	Stock in Federal Home Loan Bank of Atlanta As a requirement for membership, the Bank invests in stock of the Federal Home Loan Bank of Atlanta (“FHLB”). This investment was carried at cost at December 31, 2019 and 2018. The Company continually monitors the financial strength of the FHLB and evaluates the investment for potential impairment. There can be no assurance that the impact of recent or future legislation on the Federal Home Loan Banks will not cause a decrease in the value of the Bank’s investment in FHLB stock.
Other Non Marketable Securities	Other Non-Marketable Securities Other non-marketable securities are equity instruments that are reported at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment of the same issuer
Foreclosed Real Estate	Foreclosed Real Estate Real estate acquired through, or in lieu of, loan foreclosure is recorded at fair value, less the estimated cost to sell, at the date of foreclosure. At foreclosure, any excess of the loan balance over the fair value of the property is charged to the allowance for loan losses. After foreclosure, management periodically performs valuations of the property and adjusts the value down when the carrying value of the property exceeds the estimated net realizable value. Revenue and expenses from operations and changes in the valuation allowance are included in foreclosure-related expense.
Premises and Equipment	Premises and Equipment Premises and equipment are stated at cost less accumulated depreciation. Depreciation is calculated on the straight-line method over the estimated useful lives of the assets. Estimated useful lives are 40 years for buildings and 3 to 10 years for furniture, fixtures and equipment. Leasehold improvements are amortized over the terms of the respective leases or the estimated useful lives of the improvements, whichever is shorter. Repairs and maintenance costs are charged to operations as incurred and additions and improvements to premises and equipment are capitalized. Upon sale or retirement, the cost and related accumulated depreciation are removed from the accounts and any gains or losses are reflected in current operations.
Income Taxes	Income Taxes Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the tax basis of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred tax assets are also recognized for operating loss carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which the temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that the tax benefits will not be realized. Public law No. 115‑97, known as the Tax Cuts and Jobs Act (the "Act"), enacted on December 22, 2017, reduced the U.S. federal corporate tax rate from 35% to 21%. Also on December 22, 2017, the Securities and Exchange Commission issued Staff Accounting Bulletin No. 118 (SAB 118), which provides guidance on accounting for tax effects of the Act. SAB 118 provides a measurement period of up to one year from the enactment date to complete the accounting. Any adjustments during this measurement period will be included in net earnings from continuing operations as an adjustment to income tax expense in the reporting period when such adjustments are determined. Based on the information available and current interpretation of the rules, the Company has made estimates of the impact of the reduction in the corporate tax rate and re-measurement of certain deferred tax assets and liabilities. The provisional amount recorded related to the re-measurement of the Company’s deferred tax balance was $2.6 million for 2017. The measurement period expired prior to December 31, 2018. No additional amount related to the re-measurement of the Company’s deferred tax balance was recorded prior to the expiration of the measurement period. See Note L Income Taxes for more information
Bank Owned Life Insurance	Bank Owned Life Insurance Bank Owned Life Insurance ("BOLI") is carried at its cash surrender value on the balance sheet and is classified as a non-interest-earning asset. Death benefit proceeds received in excess of the policy’s cash surrender value are recognized to income. Returns on the BOLI assets are added to the carrying value and included as non-interest income in the consolidated statement of operations. Any receipt of benefit proceeds is recorded as a reduction to the carrying value of the BOLI asset. At December 31, 2019 and 2018, the Company held no loans against its BOLI cash surrender values.
Goodwill	Goodwill Goodwill represents the cost in excess of the fair value of net assets acquired (including identifiable intangibles) in transactions accounted for as business combinations. Goodwill has an indefinite useful life and is evaluated for impairment annually, or more frequently if events and circumstances indicate that the asset might be impaired. An impairment loss is recognized to the extent that the carrying amount exceeds the asset’s fair value. For the 2019 assessment, we performed a qualitative assessment to determine if it was more likely than not that the fair value of our single reporting unit is less than its carrying amount. We concluded that the fair value of our single reporting unit exceeded its carrying amount and that it was not necessary to perform the two-step test pursuant to ASC 350‑20. Our qualitative assessment considered many factors including, but not limited to, our actual and projected operating performance and profitability, as well as consideration of recent bank merger and acquisition transaction metrics. No impairment was indicated in 2019, 2018 or 2017. In January 2017, the FASB ASU 2017‑04, Intangibles - Goodwill and Other (Topic 350):Simplifying the Test for Goodwill Impairment, was amended to simplify the accounting for goodwill impairment for public business entities and other entities that have goodwill reported in their financial statements and have not elected the private company alternative for the subsequent measurement of goodwill. The amendment removes Step 2 of the goodwill impairment test. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The effective date and transition requirements for the technical corrections will be effective for the Company for reporting periods beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company will adopt the standard for reporting periods beginning after December 15, 2019 and does not expect these amendments to have a material effect on its financial statements.
Core Deposit Intangible	Core Deposit Intangible The Company considers its core deposits to be intangible assets with finite lives. Core deposit intangibles are being amortized using the effective interest method over six years.
Derivative Financial Instruments	Derivative Financial Instruments The Company utilizes interest rate lock commitments, which are considered derivative instruments, in its mortgage banking operations. As of December 31, 2019, the amount of interest rate lock commitments is considered immaterial.
Stock-Based Compensation	Stock-Based Compensation The Company has certain stock-based employee compensation plans, described more fully in Note P . Generally accepted accounting principles (“GAAP”) require recognition of the cost of employee services received in exchange for an award of equity instruments in the financial statements over the period the employee is required to perform the services in exchange for the award (usually the vesting period). GAAP also requires the compensation cost for all awards granted after the date of adoption and any unvested awards that remained outstanding as of the date of adoption to be measured based on the fair value of the award on the grant date.
Comprehensive Income	Comprehensive Income The Company reports as comprehensive income all changes in shareholders’ equity during the year from sources other than shareholders. Other comprehensive income refers to all components (revenues, expenses, gains, and losses) of comprehensive income that are excluded from net income. The Company’s only component of other comprehensive income is unrealized gains and losses on investment securities available for sale.
Segment Information	Segment Information The Company follows the provisions of ASC 280, Segment Reporting, which specifies guidelines for determining an entity’s operating segments and the type and level of financial information to be disclosed. Based on these guidelines, management has determined that the Bank operates as a single business segment; the providing of general commercial and retail financial services to customers located in the Company’s market areas. The various products, as well as the methods used to distribute them, are those generally offered by community banks.
Net Income per Common Share and Common Shares Outstanding	Net Income per Common Share and Common Shares Outstanding Basic earnings per share represents income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options. Basic and diluted net income per share have been computed based upon net income as presented in the accompanying Statements of Operations divided by the weighted average number of common shares outstanding or assumed to be outstanding as summarized below: 2019 2018 2017 Weighted average number of common shares used in computing basic net income per share 19,016,808 15,812,585 11,763,050 Effect of dilutive stock options 46,429 65,048 63,927 Weighted average number of common shares and dilutive potential common shares used in computing diluted net income per share 19,063,237 15,877,633 11,826,977 At December 31, 2019, 2018 and 2017, there were 176,600, 122,300 and 121,300 anti-dilutive options, respectively.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The following summarizes recent accounting pronouncements and their expected impact on the Company: In February 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842). ASU 2016-02 applies a right-of-use (“ROU”) model that requires a lessee to record, for all leases with a lease term of more than 12 months, an asset representing its right to use the underlying asset and a liability to make lease payments. For leases with a term of 12 months or less, a practical expedient is available whereby a lessee may elect, by class of underlying asset, not to recognize an ROU asset or lease liability. At inception, lessees must classify all leases as either finance or operating based on five criteria. Balance sheet recognition of finance and operating leases is similar, but the pattern of expense recognition in the income statement, as well as the effect on the statement of cash flows, differs depending on the lease classification. For public business entities, the amendments in ASU 2016-02 are effective for interim and annual periods beginning after December 15, 2018. The Company adopted this standard during the first quarter of 2019. The impact was an increase to the Consolidated Balance Sheet for ROU assets and associated lease liabilities, as well as resulting depreciation expense of the ROU assets and expense of the lease liabilities in the Consolidated Statements of Income. Additionally, adding these assets to the balance sheet impacted total risk-weighted assets used to determine the regulatory capital levels. In July 2018, the FASB amended the Leases Topic of the Accounting Standards Codification to make narrow amendments to clarify how to apply certain aspects of the new standard. The amendments are effective for reporting periods beginning after December 15, 2018 . The Company elected to apply ASU 2016-02 as of the beginning of the period of adoption (January 1, 2019) and will not restate comparative periods. Adoption of ASU 2016-02 resulted in the recognition of lease liabilities totaling $9,013,900 and the recognition of ROU assets totaling $9,013,900 as of the date of adoption. The adoption of this standard did not impact beginning retained earnings. Total risk-based capital was adversely impacted by 13 basis points due to the increase in risk-weighted assets, see Note J. Lease liabilities and ROU assets are reflected in other liabilities and other assets, respectively. The initial balance sheet gross up upon adoption was primarily related to operating leases of certain real estate properties. The Company has a finance lease and no material subleases or leasing arrangements for which it is the lessor of property or equipment. The Company has elected to apply the package of practical expedients allowed by the new standard under which the Company need not reassess whether any expired or existing contracts are leases or contain leases, the Company need not reassess the lease classification for any expired or existing lease, and the Company need not reassess initial direct costs for any existing leases. In June 2016, the FASB issued ASU 2016‑13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, guidance to change the accounting for credit losses and modify the impairment model for certain debt securities. ASU 2016‑13 requires an entity to utilize a new impairment model known as the current expected credit loss ("CECL") model to estimate its lifetime "expected credit loss" and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The CECL model is expected to result in earlier recognition of credit losses. ASU 2016‑13 also requires new disclosures for financial assets measured at amortized cost, loans and available-for-sale debt securities. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. On October 16, 2019, the FASB voted to delay implementation of CECL until January 2023 for certain companies, including smaller reporting companies (as defined by the SEC). The Company currently qualifies as a smaller reporting company and is still assessing the impact that this new guidance will have on its consolidated financial statements. In August 2018, the FASB amended ASU 2018-13 - Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement topic of the Accounting Standards Codification. 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 consolidated financial statements. From time to time, the FASB issues exposure drafts for proposed statements of financial accounting standards. Such exposure drafts are subject to comment from the public, to revisions by the FASB and to final issuance by the FASB as statements of financial accounting standards. Management considers the effect of the proposed statements on the consolidated financial statements of the Company and monitors the status of changes to and proposed effective dates of exposure drafts.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2019
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of Weighted Average Number of Shares	Basic and diluted net income per share have been computed based upon net income as presented in the accompanying Statements of Operations divided by the weighted average number of common shares outstanding or assumed to be outstanding as summarized below: 2019 2018 2017 Weighted average number of common shares used in computing basic net income per share 19,016,808 15,812,585 11,763,050 Effect of dilutive stock options 46,429 65,048 63,927 Weighted average number of common shares and dilutive potential common shares used in computing diluted net income per share 19,063,237 15,877,633 11,826,977

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	12 Months Ended
	Dec. 31, 2019
BUSINESS COMBINATIONS
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table provides the carrying value of acquired assets and assumed liabilities, as recorded by the Company, the fair value adjustments calculated at the time of the merger and the resulting fair value recorded by the Company. December 15, 2017 As recorded by Fair Value As recorded by Premara adjustments the Company (Dollars in thousands) Assets Cash and cash equivalents $ 28,513 $ — $ 28,513 Investment securities 32,939 (106) 32,833 Loans 203,780 (5,340) 198,440 Less: allowance for loan losses (2,341) 2,341 — Premises and equipment 928 (233) 695 Accrued interest receivable 853 (56) 797 Bank owned life insurance 5,673 — 5,673 Goodwill 325 (325) — Core deposit intangible 223 2,477 2,700 Other assets 8,701 790 9,491 Total assets acquired $ 279,594 $ (452) $ 279,142 Liabilities Deposits: Noninterest-bearing $ 55,617 $ — $ 55,617 Interest-bearing 170,873 171 171,044 Total deposits 226,490 171 226,661 Borrowings 29,000 14 29,014 Other liabilities 747 — 747 Total liabilities assumed $ 256,237 $ 185 $ 256,422 Fair value of net assets assumed 22,720 Value of common shares of Premara shareholders 40,693 Goodwill recorded for Premara $ 17,973
Business Acquisition, Pro Forma Information	PCI loans acquired totaled $8.6 million at estimated fair value and acquired performing loans totaling $189.6 million at estimated fair value. For PCI loans acquired from Premara, the contractually required payments including principal and interest, cash flows expected to be collected and fair values as of the closing date of the merger were: December 15, 2017 (Dollars in thousands) Contractually required payments $ 11,752 Nonaccretable difference 1,768 Cash flows expected to be collected 9,984 Accretable yield 1,392 Fair value at acquisition date $ 8,592

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2019
INVESTMENT SECURITIES
Schedule of amortized cost and fair value of AFS investments	The amortized cost and fair value of available for sale (“AFS”) investments, with gross unrealized gains and losses, follow: December 31, 2019 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (dollars in thousands) Securities available for sale: U.S. government agencies – GSE’s $ 9,839 $ 159 $ (2) $ 9,996 Mortgage-backed securities – GSE’s 46,926 830 (13) 47,743 Corporate bonds 2,282 17 — 2,299 Municipal bonds 12,152 177 — 12,329 $ 71,199 $ 1,183 $ (15) $ 72,367 December 31, 2018 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (dollars in thousands) Securities available for sale: U.S. government agencies – GSE’s $ 9,852 $ 36 $ (51) $ 9,837 Mortgage-backed securities – GSE’s 23,150 62 (229) 22,983 Corporate bonds 1,697 25 — 1,722 Municipal bonds 16,910 105 (24) 16,991 $ 51,609 $ 228 $ (304) $ 51,533
Schedule of unrealized loss on investments	The following tables show gross unrealized losses and fair value, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position as of December 31, 2019 and 2018. 2019 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses (dollars in thousands) Securities available for sale: U.S. government agencies – GSE’s $ 872 $ — $ 621 $ (2) $ 1,493 $ (2) Mortgage-backed securities – GSE’s 2,672 (3) 3,774 (10) 6,446 (13) Corporate bonds — — — — — — Municipal bonds — — — — — — Total temporarily impaired securities $ 3,544 $ (3) $ 4,395 $ (12) $ 7,939 $ (15) 2018 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized value losses value losses value losses (dollars in thousands) Securities available for sale: U.S. government agencies – GSE’s $ 1,224 $ (6) $ 4,086 $ (45) $ 5,310 $ (51) Mortgage-backed securities – GSE’s 200 — 16,932 (229) 17,132 (229) Corporate bonds — — — — — — Municipal bonds 1,007 (2) 1,740 (22) 2,747 (24) Total temporarily impaired securities $ 2,431 $ (8) $ 22,758 $ (296) $ 25,189 $ (304)
Schedule of Investments Classified By Contractual Maturity Date	The following table sets forth certain information regarding the amortized costs, carrying values and contractual maturities of the Company’s investment portfolio at December 31, 2019. Amortized Fair Cost Value (dollars in thousands) Securities available for sale: U.S. government agencies – GSE’s Due within one year $ 122 $ 123 Due after one but within five years 7,517 7,620 Due after five but within ten years 1,855 1,909 Due after ten years 345 344 9,839 9,996 Mortgage-backed securities – GSE’s Due within one year 4,455 4,449 Due after one but within five years 33,217 33,802 Due after five but within ten years 710 719 Due after ten years 8,544 8,773 46,926 47,743 Corporate bonds Due within one year 276 280 Due after one but within five years — — Due after five but within ten years 1,256 1,269 Due after ten years 750 750 2,282 2,299 Municipal bonds Due within one year 4,048 4,062 Due after one but within five years 220 220 Due after five but within ten years 747 764 Due after ten years 7,137 7,283 12,152 12,329 Total securities available for sale Due within one year 8,901 8,914 Due after one but within five years 40,954 41,642 Due after five but within ten years 4,568 4,661 Due after ten years 16,776 17,150 $ 71,199 $ 72,367

LOANS (Tables)

LOANS (Tables)	12 Months Ended
	Dec. 31, 2019
LOANS
Schedule of the composition of the loan portfolio	The following is a summary of loans at December 31, 2019 and 2018: 2019 2018 Percent Percent Amount of total Amount of total (dollars in thousands) Real estate loans: 1-to-4 family residential $ 151,697 14.73 % $ 159,597 16.19 % Commercial real estate 459,115 44.58 % 457,611 46.41 % Multi-family residential 69,124 6.71 % 63,459 6.44 % Construction 221,878 21.55 % 170,404 17.28 % Home equity lines of credit (“HELOC”) 44,514 4.32 % 49,713 5.04 % Total real estate loans 946,328 91.89 % 900,784 91.36 % Other loans: Commercial and industrial 75,748 7.35 % 74,181 7.52 % Loans to individuals 9,779 0.95 % 12,597 1.28 % Overdrafts 234 0.02 % 217 0.02 % Total other loans 85,761 8.32 % 86,995 8.82 % Gross loans 1,032,089 987,779 Less deferred loan origination fees, net (2,114) (0.18) % (1,739) (0.18) % Total loans 1,029,975 100.00 % 986,040 100.00 % Allowance for loan losses (8,324) (8,669) Total loans, net $ 1,021,651 $ 977,371
Schedule of Purchased Credit Impaired, or PCI, the contractually required payments including principal and interest, cash flows expected to be collected	For PCI loans acquired from Legacy Select and Premara, the contractually required payments including principal and interest, cash flows expected to be collected and fair values as of the closing date of the merger and December 31, 2019 and 2018 were: December 31, December 31, 2019 2018 (dollars in thousands) Contractually required payments $ 20,598 $ 24,823 Nonaccretable difference 1,694 1,962 Cash flows expected to be collected 18,904 22,861 Accretable yield 3,191 3,593 Fair value $ 15,713 $ 19,268
Schedule of age analysis of past due loans, segregated by class of loans	The following tables present as of December 31, 2019 and 2018 an age analysis of past due loans, segregated by class of loans: December 31, 2019 30-59 60-89 90+ Non- Total Days Days Days Accrual Past Total Past Due Past Due Accruing Loans Due Current Loans (dollars in thousands) Total loans Commercial and industrial $ 1,108 $ 34 $ 46 $ 2,824 $ 4,012 $ 71,736 $ 75,748 Construction — — — 181 181 221,697 221,878 Multi-family residential — — — — — 69,124 69,124 Commercial real estate 393 82 321 1,832 2,628 456,487 459,115 Loans to individuals & overdrafts 5 — — 155 160 9,853 10,013 1‑to‑4 family residential 859 810 864 505 3,038 148,659 151,697 HELOC 168 — — 444 612 43,902 44,514 Deferred loan (fees) cost, net — — — — — — (2,114) $ 2,533 $ 926 $ 1,231 $ 5,941 $ 10,631 $ 1,021,458 $ 1,029,975 Loans- PCI Commercial and industrial $ — $ — $ 46 $ — $ 46 $ 1,057 $ 1,103 Construction — — — — — 677 677 Multi-family residential — — — — — 897 897 Commercial real estate — — 321 — 321 5,449 5,770 Loans to individuals & overdrafts — — — — — — — 1‑to‑4 family residential — — 864 — 864 6,354 7,218 HELOC — — — — — 48 48 $ — $ — $ 1,231 $ — $ 1,231 $ 14,482 $ 15,713 Loans- excluding PCI Commercial and industrial $ 1,108 $ 34 $ — $ 2,824 $ 3,966 $ 70,679 $ 74,645 Construction — — — 181 181 221,020 221,201 Multi-family residential — — — — — 68,227 68,227 Commercial real estate 393 82 — 1,832 2,307 451,038 453,345 Loans to individuals & overdrafts 5 — — 155 160 9,853 10,013 1‑to‑4 family residential 859 810 — 505 2,174 142,305 144,479 HELOC 168 — — 444 612 43,854 44,466 Deferred loan (fees) cost, net — — — — — — (2,114) $ 2,533 $ 926 $ — $ 5,941 $ 9,400 $ 1,006,976 $ 1,014,262 Non-Accrual and Past Due Loans December 31, 2018 30-59 60-89 90+ Non- Total Days Days Days Accrual Past Total Past Due Past Due Accruing Loans Due Current Loans (dollars in thousands) Total loans Commercial and industrial $ 27 $ 203 $ 1,665 $ 4,170 $ 6,065 $ 68,116 $ 74,181 Construction — — 69 587 656 169,748 170,404 Multi-family residential — — — — — 63,459 63,459 Commercial real estate 103 483 — 1,074 1,660 455,951 457,611 Loans to individuals & overdrafts 1 24 — — 25 12,789 12,814 1‑to‑4 family residential 502 505 1,433 386 2,826 156,771 159,597 HELOC — 43 — 1,040 1,083 48,630 49,713 Deferred loan (fees) cost, net — — — — — — (1,739) $ 633 $ 1,258 $ 3,167 $ 7,257 $ 12,315 $ 975,464 $ 986,040 Loans- PCI Commercial and industrial $ — $ — $ 1,665 $ — $ 1,665 $ 99 $ 1,764 Construction — — 69 — 69 682 751 Multi-family residential — — — — — 937 937 Commercial real estate — — — — — 7,579 7,579 Loans to individuals & overdrafts — — — — — — — 1‑to‑4 family residential — — 1,433 — 1,433 6,755 8,188 HELOC — — — — — 49 49 $ — $ — $ 3,167 $ — $ 3,167 $ 16,101 $ 19,268 Loans- excluding PCI Commercial and industrial $ 27 $ 203 $ — $ 4,170 $ 4,400 $ 68,017 $ 72,417 Construction — — — 587 587 169,066 169,653 Multi-family residential — — — — — 62,522 62,522 Commercial real estate 103 483 — 1,074 1,660 448,372 450,032 Loans to individuals & overdrafts 1 24 — — 25 12,789 12,814 1‑to‑4 family residential 502 505 — 386 1,393 150,016 151,409 HELOC — 43 — 1,040 1,083 48,581 49,664 Deferred loan (fees) cost, net — — — — — — (1,739) $ 633 $ 1,258 $ — $ 7,257 $ 9,148 $ 959,363 $ 966,772
Schedule of information on loans that were considered to be impaired	The following tables present information on loans, excluding PCI loans and loans evaluated collectively as a homogenous group, that were considered to be impaired as of December 31, 2019 and December 31, 2018: December 31, 2019 Contractual Year to Date Unpaid Related Average Interest Income Recorded Principal Allowance Recorded Recognized on Investment Balance for Loan Losses Investment Impaired Loans (dollars in thousands) 2019: With no related allowance recorded: Commercial and industrial $ 2,796 $ 4,051 $ — $ 4,186 $ 122 Construction 440 537 — 500 26 Commercial real estate 5,585 6,750 — 5,632 272 Loans to individuals & overdrafts 284 293 — 193 12 Multi-family residential 197 197 — 206 13 HELOC 543 678 — 793 36 1‑to‑4 family residential 395 1,816 — 1,204 86 Subtotal: 10,240 14,322 — 12,714 567 With an allowance recorded: Commercial and industrial 731 1,056 403 572 41 Construction — — — 13 — Commercial real estate — — — — — Loans to individuals & overdrafts — — — — — Multi-family Residential — — — — — HELOC 160 222 — 212 10 1‑to‑4 family residential 81 94 10 563 7 Subtotal: 972 1,372 413 1,360 58 Totals: Commercial 9,749 12,591 403 11,109 474 Consumer 284 293 - 193 12 Residential 1,179 2,810 10 2,772 139 Grand Total: $ 11,212 $ 15,694 $ 413 $ 14,074 $ 625 December 31, 2018 Contractual Year to Date Unpaid Related Average Interest Income Recorded Principal Allowance Recorded Recognized on Investment Balance for Loan Losses Investment Impaired Loans (dollars in thousands) 2018: With no related allowance recorded: Commercial and industrial $ 4,210 $ 4,495 $ — $ 2,899 $ 229 Construction 561 647 — 473 16 Commercial real estate 4,744 6,903 — 5,053 372 Loans to individuals & overdrafts 101 109 — 51 9 Multi-family residential 215 215 — 225 15 HELOC 1,040 1,204 — 884 50 1‑to‑4 family residential 572 732 — 1,169 79 Subtotal: 11,443 14,305 — 10,754 770 With an allowance recorded: Commercial and industrial 127 325 51 234 13 Construction 27 27 14 13 — Commercial real estate — — — — — Loans to individuals & overdrafts — — — — — Multi-family Residential — — — — — HELOC — — — — — 1‑to‑4 family residential 137 555 22 374 23 Subtotal: 291 907 87 621 36 Totals: Commercial 10,007 12,612 65 8,897 645 Consumer 101 109 — 51 9 Residential 1,626 2,491 22 2,427 152 Grand Total: $ 11,734 $ 15,212 $ 87 $ 11,375 $ 806
Schedule of loans that were modified as troubled debt restructurings ("TDRs") with a breakdown of the types of concessions made by loan class	The following tables present loans that were modified as troubled debt restructurings (“TDRs”) within the previous twelve months with a breakdown of the types of concessions made by loan class during the twelve months ended December 31, 2019 and 2018: Twelve Months Ended December 31, 2019 Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded loans Investments Investments (dollars in thousands) Extended payment terms: Commercial and industrial 6 $ 2,535 $ 2,380 Commercial real estate 1 752 687 Construction 1 260 259 1‑to‑4 family residential 3 232 208 Total 11 $ 3,779 $ 3,534 Twelve Months Ended December 31, 2018 Pre-Modification Post-Modification Number Outstanding Outstanding of Recorded Recorded loans Investments Investments (dollars in thousands) Extended payment terms: Commercial and industrial 6 $ 1,579 $ 1,517 Commercial real estate 3 1,283 895 1‑to‑4 family residential 1 409 389 Total 10 $ 3,271 $ 2,801 The following tables present loans that were modified as TDRs within the previous twelve months for which there was a payment default together with a breakdown of the types of concessions made by loan class during the twelve months ended December 31, 2019 and 2018: Twelve months ended December 31, 2019 Number Recorded of loans investment (dollars in thousands) Extended payment terms: Commercial and industrial 2 $ 1,566 Total 2 $ 1,566 Twelve months ended December 31, 2018 Number Recorded of loans investment (dollars in thousands) Extended payment terms: Commercial and industrial 4 $ 1,036 Commercial real estate 1 334 Total 5 $ 1,370
Schedule of information on risk ratings of the commercial and consumer loan portfolios, segregated by loan class	The following tables present information on risk ratings of the commercial and consumer loan portfolios, segregated by loan class as of December 31, 2019 and 2018: Total Loans: December 31, 2019 Commercial Credit Exposure By Commercial Commercial Internally and real Multi-family Assigned Grade industrial Construction estate residential (dollars in thousands) Superior $ 4,014 $ — $ 337 $ — Very good 349 110 1,245 — Good 5,976 8,674 62,643 4,839 Acceptable 19,197 16,249 255,751 41,113 Acceptable with care 40,579 196,228 133,190 23,172 Special mention 242 436 1,490 — Substandard 5,391 181 4,459 — Doubtful — — — — Loss — — — — $ 75,748 $ 221,878 $ 459,115 $ 69,124 Consumer Credit Exposure By Internally 1‑to‑4 family Assigned Grade residential HELOC Pass $ 147,958 $ 43,585 Special mention 1,246 76 Substandard 2,493 853 $ 151,697 $ 44,514 Consumer Credit Exposure Based Loans to On Payment individuals & Activity overdrafts Pass $ 9,727 Special mention 286 $ 10,013 Total Loans: December 31, 2018 Commercial Credit Exposure By Commercial Commercial Internally and real Multi-family Assigned Grade industrial Construction estate residential (dollars in thousands) Superior $ 1,662 $ — $ 21 $ — Very good 2,266 246 1,120 — Good 5,773 12,106 47,959 5,116 Acceptable 22,332 30,897 263,017 37,832 Acceptable with care 34,626 125,788 139,484 20,296 Special mention 879 711 1,789 — Substandard 6,643 656 4,221 215 Doubtful — — — — Loss — — — — $ 74,181 $ 170,404 $ 457,611 $ 63,459 Consumer Credit Exposure By Internally 1‑to‑4 family Assigned Grade residential HELOC Pass $ 155,117 $ 48,143 Special mention 900 88 Substandard 3,580 1,482 $ 159,597 $ 49,713 Consumer Credit Exposure Based Loans to On Payment individuals & Activity overdrafts Pass $ 10,891 Special mention 1,923 $ 12,814
Schedule of changes to the amount of the accretable yield on PCI loans	The following table documents changes to the amount of the PCI accretable yield as of December 31, 2019 and 2018: 2019 2018 (dollars in thousands) Accretable yield, beginning of period $ 3,593 $ 3,307 Additions — — Accretion (904) (1,541) Reclassification from nonaccretable difference 360 576 Other changes, net 142 1,251 Accretable yield, end of period $ 3,191 $ 3,593
Schedule of allowance for loan losses by loan class	The following tables present a roll forward of the Company’s allowance for loan losses by loan segment for the twelve-month periods ended December 31, 2019, 2018 and 2017, respectively (in thousands): 2019 Commercial 1 to 4 Loans to Multi- and Commercial family individuals & family Allowance for loan losses industrial Construction real estate residential HELOC overdrafts residential Total Loans – excluding PCI Balance, beginning of period 01/01/2019 $ 762 $ 1,385 $ 3,024 $ 1,663 $ 555 $ 206 $ 471 $ 8,066 Provision for loan losses 1,143 328 (371) (259) (169) 152 (52) 772 Loans charged-off (790) — (10) — (150) (206) — (1,156) Recoveries 12 18 194 33 93 23 — 373 Balance, end of period 12/31/2019 $ 1,127 $ 1,731 $ 2,837 $ 1,437 $ 329 $ 175 $ 419 $ 8,055 PCI Loans Balance, beginning of period 01/01/2019 $ 214 $ — $ 385 $ 4 $ — $ — $ — $ 603 Provision for loan losses (36) 6 (371) 52 — — 15 (334) Loans charged-off — — — — — — — — Recoveries — — — — — — — — Balance, end of period 12/31/2019 $ 178 $ 6 $ 14 $ 56 $ — $ — $ 15 $ 269 Total Loans Balance, beginning of period 01/01/2019 $ 976 $ 1,385 $ 3,409 $ 1,667 $ 555 $ 206 $ 471 $ 8,669 Provision for loan losses 1,107 334 (742) (207) (169) 152 (37) 438 Loans charged-off (790) — (10) — (150) (206) — (1,156) Recoveries 12 18 194 33 93 23 — 373 Balance, end of period 12/31/2019 $ 1,305 $ 1,737 $ 2,851 $ 1,493 $ 329 $ 175 $ 434 $ 8,324 Ending Balance: individually evaluated for impairment $ 403 $ — $ — $ 10 $ — $ — $ — $ 413 Ending Balance: collectively evaluated for impairment $ 902 $ 1,737 $ 2,851 $ 1,483 $ 329 $ 175 $ 434 $ 7,911 Loans: Ending Balance: collectively evaluated for impairment non PCI loans $ 71,118 $ 220,761 $ 447,760 $ 144,003 $ 43,763 $ 9,729 $ 68,030 $ 1,005,164 Ending Balance: collectively evaluated for impairment PCI loans $ 1,103 $ 677 $ 5,770 $ 7,218 $ 48 $ — $ 897 $ 15,713 Ending Balance: individually evaluated for impairment $ 3,527 $ 440 $ 5,585 $ 476 $ 703 $ 284 $ 197 $ 11,212 Ending Balance $ 75,748 $ 221,878 $ 459,115 $ 151,697 $ 44,514 $ 10,013 $ 69,124 $ 1,032,089 2018 Commercial 1 to 4 Loans to Multi- and Commercial family individuals & family Allowance for loan losses industrial Construction real estate residential HELOC overdrafts residential Total Loans – excluding PCI Balance, beginning of period 01/01/2018 $ 742 $ 1,955 $ 3,304 $ 1,058 $ 549 $ 305 $ 791 $ 8,704 Provision for loan losses (23) (576) (326) 585 31 1 (320) (628) Loans charged-off (196) — (2) (12) (68) (191) — (469) Recoveries 239 6 48 32 43 91 — 459 Balance, end of period 12/31/2018 $ 762 $ 1,385 $ 3,024 $ 1,663 $ 555 $ 206 $ 471 $ 8,066 PCI Loans Balance, beginning of period 01/01/2018 $ 65 $ — $ 66 $ — $ — $ — $ — $ 131 Provision for loan losses 149 — 319 4 — — — 472 Loans charged-off — — — — — — — — Recoveries — — — — — — — — Balance, end of period 12/31/2018 $ 214 $ — $ 385 $ 4 $ — $ — $ — $ 603 Total Loans Balance, beginning of period 01/01/2018 $ 807 $ 1,955 $ 3,370 $ 1,058 $ 549 $ 305 $ 791 $ 8,835 Provision for loan losses 126 (576) (7) 589 31 1 (320) (156) Loans charged-off (196) — (2) (12) (68) (191) — (469) Recoveries 239 6 48 32 43 91 — 459 Balance, end of period 12/31/2018 $ 976 $ 1,385 $ 3,409 $ 1,667 $ 555 $ 206 $ 471 $ 8,669 Ending Balance: individually evaluated for impairment $ 51 $ 14 $ — $ 22 $ — $ — $ — $ 87 Ending Balance: collectively evaluated for impairment $ 925 $ 1,371 $ 3,409 $ 1,645 $ 555 $ 206 $ 471 $ 8,582 Loans: Ending Balance: collectively evaluated for impairment non PCI loans $ 68,891 $ 169,065 $ 444,354 $ 150,700 $ 48,747 $ 12,713 $ 62,307 $ 956,777 Ending Balance: collectively evaluated for impairment PCI loans $ 1,764 $ 751 $ 7,579 $ 8,188 $ 49 $ — $ 937 $ 19,268 Ending Balance: individually evaluated for impairment $ 3,526 $ 588 $ 5,678 $ 709 $ 917 $ 101 $ 215 $ 11,734 Ending Balance $ 74,181 $ 170,404 $ 457,611 $ 159,597 $ 49,713 $ 12,814 $ 63,459 $ 987,779 2017 Commercial 1 to 4 Loans to Multi- and Commercial family individuals & family Allowance for loan losses industrial Construction real estate residential HELOC overdrafts residential Total Loans – excluding PCI Balance, beginning of period 01/01/2017 $ 1,211 $ 1,301 $ 3,448 $ 846 $ 611 $ 317 $ 628 $ 8,362 Provision for loan losses (607) 642 754 188 92 55 161 1,285 Loans charged-off (73) (17) (914) (22) (179) (101) — (1,306) Recoveries 211 29 16 46 25 34 2 363 Balance, end of period 12/31/2017 $ 742 $ 1,955 $ 3,304 $ 1,058 $ 549 $ 305 $ 791 $ 8,704 PCI Loans Balance, beginning of period 01/01/2017 $ 37 $ — $ — $ — $ 12 $ — $ — $ 49 Provision for loan losses 28 — 66 — (12) — — 82 Loans charged-off — — — — — — — — Recoveries — — — — — — — — Balance, end of period 12/31/2017 $ 65 $ — $ 66 $ — $ — $ — $ — $ 131 Total Loans Balance, beginning of period 01/01/2017 $ 1,248 $ 1,301 $ 3,448 $ 846 $ 623 $ 317 $ 628 $ 8,411 Provision for loan losses (579) 642 820 188 80 55 161 1,367 Loans charged-off (73) (17) (914) (22) (179) (101) — (1,306) Recoveries 211 29 16 46 25 34 2 363 Balance, end of period 12/31/2017 $ 807 $ 1,955 $ 3,370 $ 1,058 $ 549 $ 305 $ 791 $ 8,835 Ending Balance: individually evaluated for impairment $ 50 $ — $ — $ 11 $ — $ — $ — $ 61 Ending Balance: collectively evaluated for impairment $ 757 $ 1,955 $ 3,370 $ 1,047 $ 549 $ 305 $ 791 $ 8,774 Loans: Ending Balance: collectively evaluated for impairment non PCI loans $ 102,148 $ 176,479 $ 389,617 $ 146,504 $ 51,958 $ 10,176 $ 75,777 $ 952,659 Ending Balance: collectively evaluated for impairment PCI loans $ 2,933 $ 1,069 $ 9,056 $ 9,119 $ 46 $ 67 $ 971 $ 23,261 Ending Balance: individually evaluated for impairment $ 1,083 $ 385 $ 4,427 $ 1,278 $ 602 $ 1 $ 235 $ 8,011 Ending Balance $ 106,164 $ 177,933 $ 403,100 $ 156,901 $ 52,606 $ 10,244 $ 76,983 $ 983,931

OTHER REAL ESTATE OWNED (Tables

OTHER REAL ESTATE OWNED (Tables)	12 Months Ended
	Dec. 31, 2019
OTHER REAL ESTATE OWNED
Schedule Of Real Estate Owned Properties	The following table explains changes in other real estate owned (“OREO”) during the years ended December 31, 2019 and 2018 (dollars in thousands): December 31, December 31, 2019 2018 (Dollars in thousands) Beginning balance January 1 $ 1,088 $ 1,258 Sales (120) (717) Write-downs and loss on sales (49) (71) Transfers 2,614 618 Ending balance $ 3,533 $ 1,088

PREMISES AND EQUIPMENT (Tables)

PREMISES AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2019
PREMISES AND EQUIPMENT
Schedule of Premises and Equipment	The following is a summary of premises and equipment at December 31, 2019 and 2018: 2019 2018 (dollars in thousands) Land $ 4,846 $ 4,913 Buildings 15,692 14,878 Furniture and equipment 8,077 7,455 Leasehold improvements 498 562 Construction in progress — 136 29,113 27,944 Less accumulated depreciation 11,322 10,024 Total $ 17,791 $ 17,920

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2019
GOODWILL AND OTHER INTANGIBLE ASSETS
Schedule of Finite-Lived Intangible Assets	The table below summarizes the changes in carrying amounts of goodwill and other intangibles (core deposit intangibles) for the periods presented. Core Deposit Intangible Accumulated Goodwill Gross Amortization Net (dollars in thousands) Balance at January 1, 2017 $ 6,931 $ 3,219 $ (2,409) $ 810 Goodwill and core deposit intangible resulting from Premara merger 17,973 2,700 — 2,700 Amortization expense — — (409) (409) Balance at December 31, 2017 24,904 5,919 (2,818) 3,101 Adjustment of goodwill (325) — — — Amortization expense — — (1,016) (1,016) Balance at December 31, 2018 24,579 5,919 (3,834) 2,085 Core deposit intangible resulting from branch acquisition — 350 — 350 Amortization expense — — (825) (825) Balance at December 31, 2019 $ 24,579 $ 6,269 $ (4,659) $ 1,610
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The table below summarizes the remaining core deposit intangible amortization (dollars in thousands): 2020 $ 628 2021 435 2022 288 2023 147 2024 41 Thereafter 71 $ 1,610

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2019
DEPOSITS
Schedule Of Maturities Of Time Deposits	The scheduled maturities of time deposits at December 31, 2019 are as follows: Total Time Deposits (dollars in thousands) 2020 $ 332,254 2021 81,002 2022 10,764 2023 4,599 2024 641 Thereafter — $ 429,260

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	12 Months Ended
	Dec. 31, 2019
REVENUE RECOGNITION
Schedule of noninterest income	The following presents noninterest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, for the year ended December 31, 2019, 2018 and 2017. December 31, December 31, December 31, 2019 2018 2017 (dollars in thousands) Service Charges on Deposit Accounts $ 1,161 $ 1,124 $ 899 Other 2,050 1,657 960 Noninterest Income (in-scope of Topic 606) 3,211 2,781 1,859 Noninterest Income (out-of-scope of Topic 606) 2,208 1,920 1,213 Total Non-interest Income $ 5,419 $ 4,701 $ 3,072

SHORT-TERM AND LONG-TERM DEBT (

SHORT-TERM AND LONG-TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2019
SHORT-TERM AND LONG-TERM DEBT
Schedule of Long-term Debt Instruments	At December 31, 2019, the Company had $45.0 million in advances from the Federal Home Loan Bank of Atlanta and no borrowings from the Federal Reserve Bank discount window. Advances consisted of the following at December 31, 2019: Amount Rate Maturity (dollars in thousands) Advance type: Fixed rate hybrid 20,000 2.53 % 2/2/2021 Fixed rate hybrid 10,000 2.89 % 4/12/2023 Fixed rate hybrid 5,000 2.94 % 5/30/2023 Fixed rate hybrid 10,000 2.97 % 6/28/2023

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2019
INCOME TAXES
Schedule of Income before Income Tax, Domestic and Foreign	The significant components of the provision for income taxes for the years ended December 31, 2019, 2018 and 2017 are as follows: 2019 2018 2017 (dollars in thousands) Current tax provision: Federal $ 2,699 $ 2,366 $ 3,059 State 412 483 328 Total current tax provision 3,111 2,849 3,387 Deferred tax provision: Federal 575 943 2,328 State 10 118 (3) Total deferred tax provision 585 1,061 2,325 Net income tax provision $ 3,696 $ 3,910 $ 5,712
Federal Income Tax Note	The difference between the provision for income taxes and the amounts computed by applying the statutory federal income tax rate of 21% for 2019 and 2018 and 34% for 2017 to income before income taxes is summarized below: 2019 2018 2017 (dollars in thousands) Income tax at federal statutory rate $ 3,513 $ 3,715 $ 3,025 Increase (decrease) resulting from: State income taxes, net of federal tax effect 333 475 214 Tax-exempt interest income (95) (99) (128) Income from life insurance (141) (144) (195) Incentive stock option expense 41 (2) 39 Merger expenses — 20 209 Impact of changes in tax rates — — 2,591 Other permanent differences 45 (55) (43) Provision for income taxes $ 3,696 $ 3,910 $ 5,712
Schedule of Deferred Tax Assets and Liabilities	Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of deferred taxes at December 31, 2019 and 2018 are as follows: 2019 2018 (dollars in thousands) Deferred tax assets relating to: Allowance for loan losses $ 1,913 $ 1,992 Deferred compensation 116 132 Unrealized losses on available-for-sale securities — (17) Net operating loss carryforwards 541 999 Acquisition accounting 1,024 1,107 Write-downs on foreclosed real estate 120 108 Other 229 269 Total deferred tax assets 3,943 4,590 Deferred tax liabilities relating to: Premises and equipment (796) (721) Deferred loan fees/costs (73) (67) Unrealized gains on available-for-sale securities (268) — Core deposit intangible (8) (140) Total deferred tax liabilities (1,145) (928) Net recorded deferred tax asset, included in other assets $ 2,798 $ 3,662

REGULATORY MATTERS (Tables)

REGULATORY MATTERS (Tables)	12 Months Ended
	Dec. 31, 2019
REGULATORY MATTERS
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations	As the following tables indicate, at December 31, 2019 and 2018, the Company and its Bank subsidiary both exceeded minimum regulatory capital requirements as specified below. Minimum for capital Actual adequacy purposes The Company: Amount Ratio Amount Ratio December 31, 2019: (dollars in thousands) Total Capital (to Risk-Weighted Assets) $ 205,462 18.26 % $ 90,003 8.00 % Tier 1 Capital (to Risk-Weighted Assets) 197,138 17.52 % 67,502 6.00 % Common Equity Tier 1 (to Risk-Weighted Assets) 185,138 16.46 % 50,627 4.50 % Tier 1 Capital (to Average Assets) 197,138 15.84 % 49,777 4.00 % Minimum for capital Actual adequacy purposes The Company: Amount Ratio Amount Ratio December 31, 2018: (dollars in thousands) Total Capital (to Risk-Weighted Assets) $ 202,675 19.26 % $ 84,179 8.00 % Tier 1 Capital (to Risk-Weighted Assets) 194,006 18.44 % 63,135 6.00 % Common Equity Tier 1 (to Risk-Weighted Assets) 182,006 17.30 % 47,351 4.50 % Tier 1 Capital (to Average Assets) 194,006 15.65 % 49,576 4.00 % Select Bank & Trust Company’s actual capital amounts and ratios are presented in the table below as of December 31, 2019 and 2018: Minimum to be well Minimum for capital capitalized under prompt Actual adequacy purposes corrective action provisions The Bank: Amount Ratio Amount Ratio Amount Ratio December 31, 2019: (dollars in thousands) Total Capital (to Risk-Weighted Assets) $ 177,223 15.69 % $ 90,366 8.00 % 112,958 10.00 % Tier 1 Capital (to Risk-Weighted Assets) 168,899 14.95 % 67,775 6.00 % 90,366 8.00 % Common equity Tier 1 (to Risk-Weight Assets) 168,899 14.95 % 50,831 4.50 % 73,422 6.50 % Tier 1 Capital (to Average Assets) 168,899 13.59 % 49,730 4.00 % 62,162 5.00 % Minimum to be well Minimum for capital capitalized under prompt Actual adequacy purposes corrective action provisions The Bank: Amount Ratio Amount Ratio Amount Ratio December 31, 2018: (dollars in thousands) Total Capital (to Risk-Weighted Assets) $ 162,507 15.45 % $ 84,124 8.00 % 105,156 10.00 % Tier 1 Capital (to Risk-Weighted Assets) 153,838 14.63 % 63,093 6.00 % 84,124 8.00 % Common equity Tier 1 (to Risk-Weight Assets) 153,838 14.63 % 47,320 4.50 % 68,351 6.50 % Tier 1 Capital (to Average Assets) 153,838 12.42 % 49,557 4.00 % 61,947 5.00 %

OFF-BALANCE SHEET RISK (Tables)

OFF-BALANCE SHEET RISK (Tables)	12 Months Ended
	Dec. 31, 2019
OFF-BALANCE SHEET RISK
Off Balance Sheet Credit Risk	A summary of the contract amount of the Company’s exposure to off-balance sheet credit risk as of December 31, 2019 is as follows: Financial instruments whose contract amounts represent credit risk: (In thousands) Undisbursed commitments $ 234,191 Letters of credit 2,367

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
FAIR VALUE MEASUREMENTS
Schedule of fair value on a recurring basis	The following tables summarize quantitative disclosures about the fair value measurement for each category of assets carried at fair value on a recurring basis as of December 31, 2019 and December 31, 2018 (dollars in thousands): Quoted Prices in Significant Investment securities Active Markets Other Significant available for sale for Identical Observable Unobservable December 31, 2019 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) U.S. government agencies – GSE’s $ 9,996 $ — $ 9,996 $ — Mortgage-backed securities – GSE’s 47,743 — 47,743 — Corporate Bonds 2,299 — 2,299 — Municipal bonds 12,329 — 12,329 — Total investment available for sale $ 72,367 $ — $ 72,367 $ — Quoted Prices in Significant Investment securities Active Markets Other Significant available for sale for Identical Observable Unobservable December 31, 2018 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) U.S. government agencies – GSE’s $ 9,837 $ — $ 9,837 $ — Mortgage-backed securities – GSE’s 22,983 — 22,983 — Corporate Bonds 1,722 — 1,722 — Municipal bonds 16,991 — 16,991 — Total investment available for sale $ 51,533 $ — $ 51,533 $ —
Schedule of fair value on a non-recurring basis	The following tables summarize quantitative disclosures about the fair value measurement for each category of assets carried at fair value on a nonrecurring basis as of December 31, 2019 and December 31, 2018 (dollars in thousands): Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Asset Category December 31, 2019 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Impaired loans $ 5,941 $ — $ — $ 5,941 Foreclosed real estate 3,533 — — 3,533 Total $ 9,474 $ — $ — $ 9,474 Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Asset Category December 31, 2018 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Impaired loans $ 7,257 $ — $ — $ 7,257 Assets held for sale 668 — — 668 Foreclosed real estate 1,088 — — 1,088 Total $ 9,013 $ — $ — $ 9,013
Schedule of carrying and fair values	The following table presents the carrying values and estimated fair values of the Company’s financial instruments at December 31, 2019 and 2018: December 31, 2019 Carrying Estimated Amount Fair Value Level 1 Level 2 Level 3 (dollars in thousands) Financial assets: Cash and due from banks $ 19,110 $ 19,110 $ 19,110 $ — $ — Interest-earning deposits in other banks 50,920 50,920 50,920 — — Federal funds sold 9,047 9,047 9,047 — — Investment securities available for sale 72,367 72,367 — 72,367 — Loans held for sale 928 928 — 928 — Loans, net 1,021,651 1,016,239 — — 1,016,239 Accrued interest receivable 4,189 4,189 — 4,189 — Stock in the FHLB 3,045 3,045 — — 3,045 Other non-marketable securities 719 719 — — 719 Financial liabilities: Deposits $ 992,838 $ 995,056 $ — $ 995,056 $ — Long-term debt 57,372 55,429 — 55,429 — Accrued interest payable 578 578 — 578 — December 31, 2018 Carrying Estimated Amount Fair Value Level 1 Level 2 Level 3 (dollars in thousands) Financial assets: Cash and due from banks $ 17,059 $ 17,059 $ 17,059 $ — $ — Certificates of deposits 1,000 1,000 1,000 — — Interest-earning deposits in other banks 121,303 121,303 121,303 — — Investment securities available for sale 51,533 51,533 — 51,533 — Loans held for sale 580 580 — 580 — Loans, net 977,371 970,330 — — 970,330 Accrued interest receivable 3,889 3,889 — 3,889 — Stock in the FHLB 3,283 3,283 — — 3,283 Other non-marketable securities 762 762 — — 762 Assets held for sale 668 668 — — 668 Financial liabilities: Deposits $ 980,427 $ 979,570 $ — $ 979,570 $ — Short-term debt 7,000 7,000 — 7,000 — Long-term debt 57,372 55,504 — 55,504 — Accrued interest payable 667 667 — 667 —

EMPLOYEE AND DIRECTOR BENEFIT_2

EMPLOYEE AND DIRECTOR BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2019
EMPLOYEE AND DIRECTOR BENEFIT PLANS
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	For years when stock options were granted the estimated weighted average fair market value of each option awarded, using the Black-Scholes option pricing model, together with the assumptions used in estimating those weighted average fair values, are displayed below: 2019 2018 2017 Estimated fair value of options granted $ 5.99 $ 6.07 $ 5.47 Assumptions in estimating average option values: Risk-free interest rate 2.59 % 2.94 % 2.07 % Dividend yield — % — % — % Volatility 42.18 % 36.67 % 42.42 % Expected life (in years) 8.00 8.00 8.00
Share-based Compensation, Stock Options, Activity	A summary of the Company’s option plans as of and for the year ended December 31, 2019 is as follows: Outstanding Options Exercisable Options Shares Weighted Weighted Available Average Average for Future Number Exercise Number Exercise Grants Outstanding Price Outstanding Price At December 31, 2018 597,500 239,955 $ 8.63 113,013 $ 6.71 Options granted/vested (58,500) 58,500 — 35,660 — Stock grants (10,569) — 12.30 — — Options exercised 26,813 (26,813) 8.50 (26,813) 8.50 Options expired — — — — — Options forfeited 3,100 (3,100) 10.92 (200) $ 5.25 At December 31, 2019 568,913 268,542 $ 9.55 121,660 $ 7.80
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range	Information regarding the stock options outstanding at December 31, 2019 is summarized below: Number Number of options of options Range of Exercise Prices outstanding exercisable $2.25 - $7.07 67,922 62,920 $7.08 - $10.69 41,620 18,040 $10.70 - $12.99 159,000 40,700 Outstanding at end of year 268,542 121,660
Schedule of Nonvested Share Activity	Weighted-Average Grant Date Non-vested Options Options Fair Value Non-vested at December 31, 2018 126,942 $ 5.16 Granted 58,500 5.99 Vested (35,660) 5.02 Expired — — Forfeited (3,100) 5.55 Non-vested at December 31, 2019 146,882 5.51

PARENT COMPANY FINANCIAL DATA (

PARENT COMPANY FINANCIAL DATA (Tables)	12 Months Ended
	Dec. 31, 2019
PARENT COMPANY FINANCIAL DATA
Condensed Balance Sheet	Following are the condensed balance sheets of Select Bancorp as of and for the years ended December 31, 2019 and 2018 and the related condensed statements of operations and cash flows for each of the years in the three-year period ended December 31, 2019: Condensed Balance Sheets December 31, 2019 and 2018 (dollars in thousands) 2019 2018 Assets Cash balances with Select Bank & Trust $ 22,556 $ 34,949 Investment in Select Bank & Trust 196,536 181,442 Investment in New Century Statutory Trust I 598 580 Other assets 5,711 5,255 Total Assets $ 225,401 $ 222,226 Liabilities and Shareholders’ Equity Junior subordinated debentures $ 12,372 $ 12,372 Accrued interest and other liabilities 254 243 Total Liabilities 12,626 12,615 Shareholders’ equity: Preferred stock - — Common stock 18,330 19,312 Additional paid-in capital 140,870 150,718 Retained earnings 52,675 39,640 Common stock issued to deferred compensation trust (2,815) (2,615) Directors’ Deferred Compensation Plan Rabbi Trust 2,815 2,615 Accumulated other comprehensive income (loss) 900 (59) Total Shareholders’ Equity 212,775 209,611 Total Liabilities and Shareholders’ Equity $ 225,401 $ 222,226
Condensed Statements of Operations	2019 2018 2017 Equity in earnings of subsidiaries $ 14,153 $ 39,153 $ (9,236) Dividends received for subsidiary — (25,000) — Dividends in excess of earnings 434 642 13,291 Operating expense (1,862) (1,275) (1,175) Income tax benefit 310 262 305 Net income $ 13,035 $ 13,782 $ 3,185
Condensed Statements of Cash Flows	2019 2018 2017 CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 13,035 $ 13,782 $ 3,185 Equity in undistributed income of subsidiaries (14,153) (39,153) 9,236 Stock based compensation 369 178 115 Net change in other assets (456) (283) (315) Net change in other liabilities 11 (12,185) 12,066 Net cash provided by (used in) operating activities (1,194) (37,661) 24,287 CASH FLOWS FROM INVESTING ACTIVITIES Cash received from acquisition — — 257 Investment in subsidiary — — (12,407) Net cash used in investing activities — — (12,150) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from stock option exercises 228 187 166 Repurchase of common stock (11,427) — — Proceeds from the issuance of common stock — 63,250 — Direct expenses related to capital transaction — (3,444) — Net cash provided by (used in) financing activities (11,199) 59,993 166 Net (decrease) increase in cash and cash equivalents (12,393) 22,332 12,303 Cash and cash equivalents at beginning of year 34,949 12,617 314 Cash and cash equivalents, end of year $ 22,556 $ 34,949 $ 12,617

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2019
RELATED PARTY TRANSACTIONS
Related Party Loan Transactions	A summary of related party loan transactions, is as follows: 2019 2018 (dollars in thousands) Balance at January 1 $ 12,658 $ 13,520 Exposure of directors/executive officers added — — Borrowings 5,110 1,312 Directors/executive officers resigned or retired from board (647) — Loan repayments (9,894) (2,174) Balance at December 31 $ 7,227 $ 12,658

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2019
LEASES
Schedule of future minimum lease payments due	The Company has operating leases for its corporate offices and branches that expire at various times through 2034. Future minimum lease payments under the leases for years subsequent to December 31, 2019 are as follows: Total Lease Payments (dollars in thousands) 2020 $ 1,071 2021 1,097 2022 1,128 2023 1,063 2024 996 Years thereafter 6,400 $ 11,755
Schedule of lease expense	The components of lease expense were as follows (dollars in thousands): December 31, 2019 Operating lease cost $ 1,054
Schedule of supplemental cash flow information	Supplemental cash flow information related to leases was as follows: December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 1,054 Right-of-use assets obtained in exchange for lease obligations: Operating leases 8,596
Schedule of remaining weighted average lease terms and discount rates	The following table presents the remaining weighted average lease terms and discount rates as of December 31, 2019: Weighted Average Remaining Lease Term Operating leases years Weighted Average Discount Rate Operating leases %
Schedule of maturities of lease liabilities	Maturities of lease liabilities were as follows: Operating (In thousands) Leases Year Ending December 31, 2020 $ 580 2021 642 2022 714 2023 693 2024 665 Thereafter 5,150 Lease payments 8,444 Amounts representing interest Present Value of Net Future Minimum Lease Payments 8,175

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Weighted average number of common shares outstanding (Details) - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Weighted average number of common shares used in computing basic net income per share	19,016,808	15,812,585	11,763,050
Effect of dilutive stock options	46,429	65,048	63,927
Weighted average shares used for diluted net income available to common shareholders	19,063,237	15,877,633	11,826,977

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jan. 01, 2019
Accounting Policies [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	176,600	122,300	121,300
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	35.00%	34.00%
Adjustments to Deferred Tax Assets For Change In Effective Tax Rate			$ 2,600,000
Operating Lease, Liability	$ 8,175,000
Operating Lease, Right-of-Use Asset	$ 8,596,000	$ 0
Accounting Standards Update 2016-02 [Member]
Accounting Policies [Line Items]
Operating Lease, Liability				$ 9,013,900
Operating Lease, Right-of-Use Asset				$ 9,013,900
Building [Member]
Accounting Policies [Line Items]
Finite-Lived Intangible Asset, Useful Life	40 years
Furniture and Fixtures [Member] | Maximum [Member]
Accounting Policies [Line Items]
Finite-Lived Intangible Asset, Useful Life	10 years
Furniture and Fixtures [Member] | Minimum [Member]
Accounting Policies [Line Items]
Finite-Lived Intangible Asset, Useful Life	3 years

BUSINESS COMBINATIONS - Carryin

BUSINESS COMBINATIONS - Carrying value of acquired assets and assumed liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 15, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents				$ 28,513
Investment securities				32,833
Loans	$ 1,029,975	$ 986,040		198,440
Less: allowance for loan losses	(8,324)	(8,669)		0
Premises and equipment				695
Accrued interest receivable				797
Bank owned life insurance	29,789	29,117		5,673
Goodwill	24,579	24,579	$ 24,904	0	$ 6,931
Core deposit intangible	1,610	2,085	3,101	2,700	$ 810
Other assets				9,491
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total	26,258	0	279,142	279,142
Deposits:
Noninterest-bearing				55,617
Interest-bearing				171,044
Total deposits	992,838	980,427		226,661
Borrowings				29,014
Other liabilities				747
Total liabilities assumed	25,776	0	256,422	256,422
Fair value of net assets assumed				22,720
Value of common shares of Premara shareholders				40,693
Goodwill recorded for Premara	$ 0	$ 0	$ 17,973	17,973
Fair Value Adjustments [Member]
Assets
Cash and cash equivalents				0
Investment securities				(106)
Loans				(5,340)
Less: allowance for loan losses				2,341
Premises and equipment				(233)
Accrued interest receivable				(56)
Bank owned life insurance				0
Goodwill				(325)
Core deposit intangible				2,477
Other assets				790
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total				(452)
Deposits:
Noninterest-bearing				0
Interest-bearing				171
Total deposits				171
Borrowings				14
Other liabilities				0
Total liabilities assumed				185
Legacy Select [Member]
Assets
Cash and cash equivalents				28,513
Investment securities				32,939
Loans				203,780
Less: allowance for loan losses				(2,341)
Premises and equipment				928
Accrued interest receivable				853
Bank owned life insurance				5,673
Goodwill				325
Core deposit intangible				223
Other assets				8,701
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total				279,594
Deposits:
Noninterest-bearing				55,617
Interest-bearing				170,873
Total deposits				226,490
Borrowings				29,000
Other liabilities				747
Total liabilities assumed				$ 256,237

BUSINESS COMBINATIONS - PCI loa

BUSINESS COMBINATIONS - PCI loans acquired from Premara (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 15, 2017
BUSINESS COMBINATIONS
Contractually required payments	$ 20,598	$ 24,823	$ 11,752
Nonaccretable difference	1,694	1,962	1,768
Cash flows expected to be collected	18,904	22,861	9,984
Accretable yield	3,191	3,593	1,392
Fair value at acquisition date	$ 15,713	$ 19,268	$ 8,592

BUSINESS COMBINATIONS - Additio

BUSINESS COMBINATIONS - Additional information (Details) - USD ($)	Aug. 27, 2018	Dec. 15, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value		$ 8,592,000	$ 15,713,000	$ 19,268,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares			1.0463	948,080
Business Acquisition, Share Price		$ 12.14
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total		$ 279,142,000	$ 26,258,000	$ 0	$ 279,142,000
Payments to Acquire Businesses, Gross				$ 11,993,212
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 12.65	$ 12.65	$ 12.65
Business Combination, Consideration Transferred, Including Equity Interest in Acquiree Held Prior to Combination			$ 2,231,728
Stock Issued During Period, Shares, New Issues	5,270,834
Business Combination, Consideration Transferred				$ 40,600,000
Carolina Premier [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total		$ 279,600,000
Common Stock
Business Acquisition [Line Items]
Stock Issued During Period, Shares, New Issues			2,334,999
Common Stock | Premara Financial, Inc [Member]
Business Acquisition [Line Items]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares		3,179,808		3,179,808
Business Acquisition, Percentage of Voting Interests Acquired				30.00%
Legacy Select [Member]
Business Acquisition [Line Items]
Business Combination, Acquisition Related Costs			$ 406,000	$ 1,800,000	$ 2,200,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total		$ 279,594,000
Purchased Credit Impaired Loans [Member]
Business Acquisition [Line Items]
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value			8,600,000
Performing Loans [Member]
Business Acquisition [Line Items]
Certain Loans Acquired in Transfer Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value			$ 189,600,000

INVESTMENT SECURITIES - Amortiz

INVESTMENT SECURITIES - Amortized cost and fair value of AFS investments (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Securities available for sale:
Amortized cost	$ 71,199	$ 51,609
Gross unrealized gains	1,183	228
Gross unrealized losses	(15)	(304)
Fair value	72,367	51,533
U.S. government agencies - GSEs [Member]
Securities available for sale:
Amortized cost	9,839	9,852
Gross unrealized gains	159	36
Gross unrealized losses	(2)	(51)
Fair value	9,996	9,837
Mortgage-backed securities - GSEs [Member]
Securities available for sale:
Amortized cost	46,926	23,150
Gross unrealized gains	830	62
Gross unrealized losses	(13)	(229)
Fair value	47,743	22,983
Corporate bonds [Member]
Securities available for sale:
Amortized cost	2,282	1,697
Gross unrealized gains	17	25
Gross unrealized losses	0	0
Fair value	2,299	1,722
Municipal bonds [Member]
Securities available for sale:
Amortized cost	12,152	16,910
Gross unrealized gains	177	105
Gross unrealized losses	0	(24)
Fair value	$ 12,329	$ 16,991

INVESTMENT SECURITIES - Investm

INVESTMENT SECURITIES - Investments gross unrealized losses and fair value (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
U.S. government agencies - GSEs [Member]
Securities available for sale:
Less Than 12 Months Fair value	$ 872	$ 1,224
Less Than 12 Months Unrealized losses	0	(6)
12 Months or More Fair value	621	4,086
12 Months or More Unrealized losses	(2)	(45)
Total Fair value	1,493	5,310
Total Unrealized losses	(2)	(51)
Mortgage-backed securities - GSEs [Member]
Securities available for sale:
Less Than 12 Months Fair value	2,672	200
Less Than 12 Months Unrealized losses	(3)	0
12 Months or More Fair value	3,774	16,932
12 Months or More Unrealized losses	(10)	(229)
Total Fair value	6,446	17,132
Total Unrealized losses	(13)	(229)
Corporate bonds [Member]
Securities available for sale:
Less Than 12 Months Fair value	0
Less Than 12 Months Unrealized losses	0	0
12 Months or More Fair value	0	0
12 Months or More Unrealized losses	0	0
Total Fair value	0
Total Unrealized losses	0	0
Municipal bonds [Member]
Securities available for sale:
Less Than 12 Months Fair value	0	1,007
Less Than 12 Months Unrealized losses	0	(2)
12 Months or More Fair value	0	1,740
12 Months or More Unrealized losses	0	(22)
Total Fair value	0	2,747
Total Unrealized losses	0	(24)
Total temporarily impaired securities [Member]
Securities available for sale:
Less Than 12 Months Fair value	3,544	2,431
Less Than 12 Months Unrealized losses	(3)	(8)
12 Months or More Fair value	4,395	22,758
12 Months or More Unrealized losses	(12)	(296)
Total Fair value	7,939	25,189
Total Unrealized losses	$ (15)	$ (304)

INVESTMENT SECURITIES - Schedul

INVESTMENT SECURITIES - Scheduled maturities of AFS securities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Amortized cost, Within 1 year	$ 8,901
Fair value, Within 1 year	8,914
Amortized cost, After 1 year but within 5 years	40,954
Fair value, After 1 year but within 5 years	41,642
Amortized cost, After 5 years but within 10 years	4,568
Fair value, After 5 years but within 10 years	4,661
Amortized cost, After 10 years	16,776
Fair value, After 10 years	17,150
Available-for-sale securities, Amortized cost Total	71,199	$ 51,609
Available-for-sale securities, Fair value Total	72,367	51,533
U.S. government agencies - GSEs [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized cost, Within 1 year	122
Fair value, Within 1 year	123
Amortized cost, After 1 year but within 5 years	7,517
Fair value, After 1 year but within 5 years	7,620
Amortized cost, After 5 years but within 10 years	1,855
Fair value, After 5 years but within 10 years	1,909
Amortized cost, After 10 years	345
Fair value, After 10 years	344
Available-for-sale securities, Amortized cost Total	9,839	9,852
Available-for-sale securities, Fair value Total	9,996	9,837
Mortgage-backed securities - GSEs [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized cost, Within 1 year	4,455
Fair value, Within 1 year	4,449
Amortized cost, After 1 year but within 5 years	33,217
Fair value, After 1 year but within 5 years	33,802
Amortized cost, After 5 years but within 10 years	710
Fair value, After 5 years but within 10 years	719
Amortized cost, After 10 years	8,544
Fair value, After 10 years	8,773
Available-for-sale securities, Amortized cost Total	46,926	23,150
Available-for-sale securities, Fair value Total	47,743	$ 22,983
Municipal bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized cost, Within 1 year	4,048
Fair value, Within 1 year	4,062
Amortized cost, After 1 year but within 5 years	220
Fair value, After 1 year but within 5 years	220
Amortized cost, After 5 years but within 10 years	747
Fair value, After 5 years but within 10 years	764
Amortized cost, After 10 years	7,137
Fair value, After 10 years	7,283
Available-for-sale securities, Amortized cost Total	12,152
Available-for-sale securities, Fair value Total	12,329
Corporate bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized cost, Within 1 year	276
Fair value, Within 1 year	280
Amortized cost, After 1 year but within 5 years	0
Fair value, After 1 year but within 5 years	0
Amortized cost, After 5 years but within 10 years	1,256
Fair value, After 5 years but within 10 years	1,269
Amortized cost, After 10 years	750
Fair value, After 10 years	750
Available-for-sale securities, Amortized cost Total	2,282
Available-for-sale securities, Fair value Total	$ 2,299

INVESTMENT SECURITIES - Additio

INVESTMENT SECURITIES - Additional information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Debt Securities, Available-for-sale [Line Items]
US Government Securities, at Carrying Value	$ 18,400	$ 6,400
Debt and Equity Securities, Gain (Loss)	48	0	$ 1
Total temporarily impaired securities [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	12	296
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	3	8
U.S. government agencies - GSEs [Member]
Debt Securities, Available-for-sale [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	2	45
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$ 0	$ 6

LOANS - Composition of the Comp

LOANS - Composition of the Company's loan portfolio (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 15, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	$ 1,032,089	$ 987,779	$ 983,931
Less deferred loan origination fees, net	(2,114)	(1,739)
Total loans	1,029,975	986,040		$ 198,440
Allowance for loan losses	(8,324)	(8,669)		$ 0
Total loans, net	$ 1,021,651	$ 977,371
Less deferred loan origination fees, net	(0.18%)	(0.18%)
Percent of total	100.00%	100.00%
1-to-4 family residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	$ 151,697	$ 159,597	156,901
Total loans	$ 151,697	$ 159,597
Percent of total	14.73%	16.19%
Commercial real estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	$ 459,115	$ 457,611	403,100
Total loans	$ 459,115	$ 457,611
Percent of total	44.58%	46.41%
Multi-family residential [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	$ 69,124	$ 63,459	76,983
Total loans	$ 69,124	$ 63,459
Percent of total	6.71%	6.44%
Construction [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	$ 221,878	$ 170,404	177,933
Total loans	$ 221,878	$ 170,404
Percent of total	21.55%	17.28%
HELOC [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	$ 44,514	$ 49,713	52,606
Total loans	$ 44,514	$ 49,713
Percent of total	4.32%	5.04%
Total real estate loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 946,328	$ 900,784
Percent of total	91.89%	91.36%
Commercial and industrial Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	$ 75,748	$ 74,181	$ 106,164
Total loans	$ 75,748	$ 74,181
Percent of total	7.35%	7.52%
Loans to individuals [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 9,779	$ 12,597
Percent of total	0.95%	1.28%
Overdrafts [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 234	$ 217
Percent of total	0.02%	0.02%
Total other loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	$ 85,761	$ 86,995
Percent of total	8.32%	8.82%

LOANS - Age analysis of past du

LOANS - Age analysis of past due loans (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 15, 2017
Financing Receivable, Recorded Investment, Past Due [Line Items]
Deferred loan (fees) cost, net	$ (2,114)	$ (1,739)
Total Loans	1,029,975	986,040	$ 198,440
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,200	3,200
Total Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	5,941	7,257
Total Past Due	10,631	12,315
Current	1,021,458	975,464
Deferred loan (fees) cost, net	(2,114)	(1,739)
Total Loans	1,029,975	986,040
Total Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2,533	633
Deferred loan (fees) cost, net	0	0
Total Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	926	1,258
Deferred loan (fees) cost, net	0	0
Total Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,231	3,167
Deferred loan (fees) cost, net	0	0
Purchase Credit Impairment Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	0	0
Total Past Due	1,231	3,167
Current	14,482	16,101
Total Loans	15,713	19,268
Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Purchase Credit Impairment Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Purchase Credit Impairment Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,231	3,167
Excluding Purchase Credit Impairment Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	5,941	7,257
Total Past Due	9,400	9,148
Current	1,006,976	959,363
Deferred loan (fees) cost, net	(2,114)	(1,739)
Total Loans	1,014,262	966,772
Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	2,533	633
Deferred loan (fees) cost, net	0	0
Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	926	1,258
Deferred loan (fees) cost, net	0	0
Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Deferred loan (fees) cost, net	0	0
Commercial and industrial Other [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	75,748	74,181
Commercial and industrial Other [Member] | Total Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	2,824	4,170
Total Past Due	4,012	6,065
Current	71,736	68,116
Total Loans	75,748	74,181
Commercial and industrial Other [Member] | Total Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,108	27
Commercial and industrial Other [Member] | Total Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	34	203
Commercial and industrial Other [Member] | Total Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	46	1,665
Commercial and industrial Other [Member] | Purchase Credit Impairment Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	0	0
Total Past Due	46	1,665
Current	1,057	99
Total Loans	1,103	1,764
Commercial and industrial Other [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Commercial and industrial Other [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Commercial and industrial Other [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	46	1,665
Commercial and industrial Other [Member] | Excluding Purchase Credit Impairment Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	2,824	4,170
Total Past Due	3,966	4,400
Current	70,679	68,017
Total Loans	74,645	72,417
Commercial and industrial Other [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,108	27
Commercial and industrial Other [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	34	203
Commercial and industrial Other [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Construction [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	221,878	170,404
Construction [Member] | Total Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	181	587
Total Past Due	181	656
Current	221,697	169,748
Total Loans	221,878	170,404
Construction [Member] | Total Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Construction [Member] | Total Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Construction [Member] | Total Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	69
Construction [Member] | Purchase Credit Impairment Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	0	0
Total Past Due	0	69
Current	677	682
Total Loans	677	751
Construction [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Construction [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Construction [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	69
Construction [Member] | Excluding Purchase Credit Impairment Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	181	587
Total Past Due	181	587
Current	221,020	169,066
Total Loans	221,201	169,653
Construction [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Construction [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Construction [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Multi-family residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	69,124	63,459
Multi-family residential [Member] | Total Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	0	0
Total Past Due	0	0
Current	69,124	63,459
Total Loans	69,124	63,459
Multi-family residential [Member] | Total Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Multi-family residential [Member] | Total Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Multi-family residential [Member] | Total Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Multi-family residential [Member] | Purchase Credit Impairment Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	0	0
Total Past Due	0	0
Current	897	937
Total Loans	897	937
Multi-family residential [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Multi-family residential [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Multi-family residential [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Multi-family residential [Member] | Excluding Purchase Credit Impairment Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	0	0
Total Past Due	0	0
Current	68,227	62,522
Total Loans	68,227	62,522
Multi-family residential [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Multi-family residential [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Multi-family residential [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Commercial real estate [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	459,115	457,611
Commercial real estate [Member] | Total Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	1,832	1,074
Total Past Due	2,628	1,660
Current	456,487	455,951
Total Loans	459,115	457,611
Commercial real estate [Member] | Total Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	393	103
Commercial real estate [Member] | Total Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	82	483
Commercial real estate [Member] | Total Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	321	0
Commercial real estate [Member] | Purchase Credit Impairment Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	0	0
Total Past Due	321	0
Current	5,449	7,579
Total Loans	5,770	7,579
Commercial real estate [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Commercial real estate [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Commercial real estate [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	321	0
Commercial real estate [Member] | Excluding Purchase Credit Impairment Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	1,832	1,074
Total Past Due	2,307	1,660
Current	451,038	448,372
Total Loans	453,345	450,032
Commercial real estate [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	393	103
Commercial real estate [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	82	483
Commercial real estate [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Loans to individuals & overdrafts [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	10,013	12,814
Loans to individuals & overdrafts [Member] | Total Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	155
Total Past Due	160	25
Current	9,853	12,789
Total Loans	10,013	12,814
Loans to individuals & overdrafts [Member] | Total Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	5	1
Loans to individuals & overdrafts [Member] | Total Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	24
Loans to individuals & overdrafts [Member] | Total Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Loans to individuals & overdrafts [Member] | Purchase Credit Impairment Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	0	0
Total Past Due	0	0
Current	0	0
Total Loans	0	0
Loans to individuals & overdrafts [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Loans to individuals & overdrafts [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Loans to individuals & overdrafts [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
Loans to individuals & overdrafts [Member] | Excluding Purchase Credit Impairment Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	155
Total Past Due	160	25
Current	9,853	12,789
Total Loans	10,013	12,814
Loans to individuals & overdrafts [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	5	1
Loans to individuals & overdrafts [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	24
Loans to individuals & overdrafts [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
1-to-4 family residential [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	151,697	159,597
1-to-4 family residential [Member] | Total Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	505	386
Total Past Due	3,038	2,826
Current	148,659	156,771
Total Loans	151,697	159,597
1-to-4 family residential [Member] | Total Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	859	502
1-to-4 family residential [Member] | Total Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	810	505
1-to-4 family residential [Member] | Total Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	864	1,433
1-to-4 family residential [Member] | Purchase Credit Impairment Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	0	0
Total Past Due	864	1,433
Current	6,354	6,755
Total Loans	7,218	8,188
1-to-4 family residential [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
1-to-4 family residential [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
1-to-4 family residential [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	864	1,433
1-to-4 family residential [Member] | Excluding Purchase Credit Impairment Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	505	386
Total Past Due	2,174	1,393
Current	142,305	150,016
Total Loans	144,479	151,409
1-to-4 family residential [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	859	502
1-to-4 family residential [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	810	505
1-to-4 family residential [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
HELOC [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Loans	44,514	49,713
HELOC [Member] | Total Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	444	1,040
Total Past Due	612	1,083
Current	43,902	48,630
Total Loans	44,514	49,713
HELOC [Member] | Total Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	168	0
HELOC [Member] | Total Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	43
HELOC [Member] | Total Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
HELOC [Member] | Purchase Credit Impairment Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	0	0
Total Past Due	0	0
Current	48	49
Total Loans	48	49
HELOC [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
HELOC [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
HELOC [Member] | Purchase Credit Impairment Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	0
HELOC [Member] | Excluding Purchase Credit Impairment Loans [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Non-Accrual Loans	444	1,040
Total Past Due	612	1,083
Current	43,854	48,581
Total Loans	44,466	49,664
HELOC [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	168	0
HELOC [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	0	43
HELOC [Member] | Excluding Purchase Credit Impairment Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 0	$ 0

LOANS - Information on loans, e

LOANS - Information on loans, excluding PCI loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Impaired [Line Items]
With no related allowance, Recorded Investment	$ 10,240	$ 11,443
With no related allowance, Contractual Unpaid Principal Balance	14,322	14,305
With no related allowance, Average Recorded Investment	12,714	10,754
With no related allowance, Interest Income Recognized on Impaired Loans	567	770
With an related allowance, Recorded Investment	972	291
With an related allowance, Contractual Unpaid Principal Balance	1,372	907
Related Allowance	413	87
With an related allowance, Average Recorded Investment	1,360	621
With an related allowance, Interest Income Recognized on Impaired Loans	58	36
Recorded Investment Total	11,212	11,734
Contractual Unpaid Principal Balance Total	15,694	15,212
Average Recorded Investment Total	14,074	11,375
Interest Income Recognized on impaired Loans Total	625	806
Residential Real Estate [Member]
Financing Receivable, Impaired [Line Items]
With an related allowance, Recorded Investment		1,626
With an related allowance, Contractual Unpaid Principal Balance		2,491
Related Allowance	10	22
With an related allowance, Average Recorded Investment		2,427
With an related allowance, Interest Income Recognized on Impaired Loans		152
Recorded Investment Total	1,179
Contractual Unpaid Principal Balance Total	2,810
Average Recorded Investment Total	2,772
Interest Income Recognized on impaired Loans Total	139
Commercial Loan [Member]
Financing Receivable, Impaired [Line Items]
With an related allowance, Recorded Investment		10,007
With an related allowance, Contractual Unpaid Principal Balance		12,612
Related Allowance	403	65
With an related allowance, Average Recorded Investment		8,897
With an related allowance, Interest Income Recognized on Impaired Loans		645
Recorded Investment Total	9,749
Contractual Unpaid Principal Balance Total	12,591
Average Recorded Investment Total	11,109
Interest Income Recognized on impaired Loans Total	474
Consumer Loan [Member]
Financing Receivable, Impaired [Line Items]
With an related allowance, Recorded Investment		101
With an related allowance, Contractual Unpaid Principal Balance		109
Related Allowance	0	0
With an related allowance, Average Recorded Investment		51
With an related allowance, Interest Income Recognized on Impaired Loans		9
Recorded Investment Total	284
Contractual Unpaid Principal Balance Total	293
Average Recorded Investment Total	193
Interest Income Recognized on impaired Loans Total	12
Commercial and industrial Other [Member]
Financing Receivable, Impaired [Line Items]
With no related allowance, Recorded Investment	2,796	4,210
With no related allowance, Contractual Unpaid Principal Balance	4,051	4,495
With no related allowance, Average Recorded Investment	4,186	2,899
With no related allowance, Interest Income Recognized on Impaired Loans	122	229
With an related allowance, Recorded Investment	731	127
With an related allowance, Contractual Unpaid Principal Balance	1,056	325
Related Allowance	403	51
With an related allowance, Average Recorded Investment	572	234
With an related allowance, Interest Income Recognized on Impaired Loans	41	13
Construction [Member]
Financing Receivable, Impaired [Line Items]
With no related allowance, Recorded Investment	440	561
With no related allowance, Contractual Unpaid Principal Balance	537	647
With no related allowance, Average Recorded Investment	500	473
With no related allowance, Interest Income Recognized on Impaired Loans	26	16
With an related allowance, Recorded Investment	0	27
With an related allowance, Contractual Unpaid Principal Balance	0	27
Related Allowance	0	14
With an related allowance, Average Recorded Investment	13	13
With an related allowance, Interest Income Recognized on Impaired Loans	0	0
Commercial real estate [Member]
Financing Receivable, Impaired [Line Items]
With no related allowance, Recorded Investment	5,585	4,744
With no related allowance, Contractual Unpaid Principal Balance	6,750	6,903
With no related allowance, Average Recorded Investment	5,632	5,053
With no related allowance, Interest Income Recognized on Impaired Loans	272	372
With an related allowance, Recorded Investment	0	0
With an related allowance, Contractual Unpaid Principal Balance	0	0
Related Allowance	0	0
With an related allowance, Average Recorded Investment	0	0
With an related allowance, Interest Income Recognized on Impaired Loans	0	0
Loans to individuals & overdrafts [Member]
Financing Receivable, Impaired [Line Items]
With no related allowance, Recorded Investment	284	101
With no related allowance, Contractual Unpaid Principal Balance	293	109
With no related allowance, Average Recorded Investment	193	51
With no related allowance, Interest Income Recognized on Impaired Loans	12	9
With an related allowance, Recorded Investment	0	0
With an related allowance, Contractual Unpaid Principal Balance	0	0
Related Allowance	0	0
With an related allowance, Average Recorded Investment	0	0
With an related allowance, Interest Income Recognized on Impaired Loans	0	0
Multi-family residential [Member]
Financing Receivable, Impaired [Line Items]
With no related allowance, Recorded Investment	197	215
With no related allowance, Contractual Unpaid Principal Balance	197	215
With no related allowance, Average Recorded Investment	206	225
With no related allowance, Interest Income Recognized on Impaired Loans	13	15
With an related allowance, Recorded Investment	0	0
With an related allowance, Contractual Unpaid Principal Balance	0	0
Related Allowance	0	0
With an related allowance, Average Recorded Investment	0	0
With an related allowance, Interest Income Recognized on Impaired Loans	0	0
HELOC [Member]
Financing Receivable, Impaired [Line Items]
With no related allowance, Recorded Investment	543	1,040
With no related allowance, Contractual Unpaid Principal Balance	678	1,204
With no related allowance, Average Recorded Investment	793	884
With no related allowance, Interest Income Recognized on Impaired Loans	36	50
With an related allowance, Recorded Investment	160	0
With an related allowance, Contractual Unpaid Principal Balance	222	0
Related Allowance	0	0
With an related allowance, Average Recorded Investment	212	0
With an related allowance, Interest Income Recognized on Impaired Loans	10	0
1-to-4 family residential [Member]
Financing Receivable, Impaired [Line Items]
With no related allowance, Recorded Investment	395	572
With no related allowance, Contractual Unpaid Principal Balance	1,816	732
With no related allowance, Average Recorded Investment	1,204	1,169
With no related allowance, Interest Income Recognized on Impaired Loans	86	79
With an related allowance, Recorded Investment	81	137
With an related allowance, Contractual Unpaid Principal Balance	94	555
Related Allowance	10	22
With an related allowance, Average Recorded Investment	563	374
With an related allowance, Interest Income Recognized on Impaired Loans	$ 7	$ 23

LOANS - Loans that were modifie

LOANS - Loans that were modified as troubled debt restructurings (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)loan	Dec. 31, 2018USD ($)loan
Financing Receivable, Modifications [Line Items]
Number of loans | loan	11	10
Pre-Modification Outstanding Recorded Investment	$ 3,779	$ 3,271
Post-Modification Outstanding Recorded Investment	$ 3,534	$ 2,801
Number of loans | loan	2	5
Recorded investment	$ 1,566	$ 1,370
1-to-4 family residential [Member]
Financing Receivable, Modifications [Line Items]
Number of loans | loan	3	1
Pre-Modification Outstanding Recorded Investment	$ 232	$ 409
Post-Modification Outstanding Recorded Investment	$ 208	$ 389
Commercial real estate [Member]
Financing Receivable, Modifications [Line Items]
Number of loans | loan	1	3
Pre-Modification Outstanding Recorded Investment	$ 752	$ 1,283
Post-Modification Outstanding Recorded Investment	$ 687	$ 895
Number of loans | loan		1
Recorded investment		$ 334
Construction [Member]
Financing Receivable, Modifications [Line Items]
Number of loans | loan	1
Pre-Modification Outstanding Recorded Investment	$ 260
Post-Modification Outstanding Recorded Investment	$ 259
Commercial and industrial Other [Member]
Financing Receivable, Modifications [Line Items]
Number of loans | loan	6	6
Pre-Modification Outstanding Recorded Investment	$ 2,535	$ 1,579
Post-Modification Outstanding Recorded Investment	$ 2,380	$ 1,517
Number of loans | loan	2	4
Recorded investment	$ 1,566	$ 1,036

LOANS - Risk ratings of the com

LOANS - Risk ratings of the commercial and consumer loan portfolios (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 15, 2017
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 1,029,975	$ 986,040	$ 198,440
Total Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	1,029,975	986,040
Commercial and industrial Other [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	75,748	74,181
Commercial and industrial Other [Member] | Total Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	75,748	74,181
Commercial and industrial Other [Member] | Superior [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	4,014	1,662
Commercial and industrial Other [Member] | Very Good [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	349	2,266
Commercial and industrial Other [Member] | Good [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	5,976	5,773
Commercial and industrial Other [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	19,197	22,332
Commercial and industrial Other [Member] | Acceptable With Care [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	40,579	34,626
Commercial and industrial Other [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	242	879
Commercial and industrial Other [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	5,391	6,643
Commercial and industrial Other [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Commercial and industrial Other [Member] | Loss [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Construction [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	221,878	170,404
Construction [Member] | Superior [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Construction [Member] | Very Good [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	110	246
Construction [Member] | Good [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	8,674	12,106
Construction [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	16,249	30,897
Construction [Member] | Acceptable With Care [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	196,228	125,788
Construction [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	436	711
Construction [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	181	656
Construction [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Construction [Member] | Loss [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Commercial real estate [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	459,115	457,611
Commercial real estate [Member] | Total Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	459,115	457,611
Commercial real estate [Member] | Superior [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	337	21
Commercial real estate [Member] | Very Good [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	1,245	1,120
Commercial real estate [Member] | Good [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	62,643	47,959
Commercial real estate [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	255,751	263,017
Commercial real estate [Member] | Acceptable With Care [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	133,190	139,484
Commercial real estate [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	1,490	1,789
Commercial real estate [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	4,459	4,221
Commercial real estate [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Commercial real estate [Member] | Loss [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Multi-family residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	69,124	63,459
Multi-family residential [Member] | Total Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	69,124	63,459
Multi-family residential [Member] | Superior [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Multi-family residential [Member] | Very Good [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Multi-family residential [Member] | Good [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	4,839	5,116
Multi-family residential [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	41,113	37,832
Multi-family residential [Member] | Acceptable With Care [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	23,172	20,296
Multi-family residential [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Multi-family residential [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	0	215
Multi-family residential [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
Multi-family residential [Member] | Loss [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	0	0
1-to-4 family residential [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	151,697	159,597
1-to-4 family residential [Member] | Total Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	151,697	159,597
1-to-4 family residential [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	147,958	155,117
1-to-4 family residential [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	1,246	900
1-to-4 family residential [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	2,493	3,580
HELOC [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	44,514	49,713
HELOC [Member] | Total Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	44,514	49,713
HELOC [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	43,585	48,143
HELOC [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	76	88
HELOC [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	853	1,482
Loans to individuals & overdrafts [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	10,013	12,814
Loans to individuals & overdrafts [Member] | Total Loans [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	10,013	12,814
Loans to individuals & overdrafts [Member] | Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	9,727	10,891
Loans to individuals & overdrafts [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans	$ 286	$ 1,923

LOANS - Cash flows expected to

LOANS - Cash flows expected to be collected for PCI (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 15, 2017
LOANS
Contractually required payments	$ 20,598	$ 24,823	$ 11,752
Nonaccretable difference	1,694	1,962	1,768
Cash flows expected to be collected	18,904	22,861	9,984
Accretable yield	3,191	3,593	1,392
Carrying value	$ 15,713	$ 19,268	$ 8,592

LOANS - Accretable yield on PCI

LOANS - Accretable yield on PCI loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Receivables [Abstract]
Accretable yield, beginning of period	$ 3,593	$ 3,307
Additions	0	0
Accretion	(904)	(1,541)
Reclassification from (to) nonaccretable difference	360	576
Other changes, net	142	1,251
Accretable yield, end of period	$ 3,191	$ 3,593

LOANS - Allowance for loan loss

LOANS - Allowance for loan losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	$ 8,669
Allowance for loan losses, Balance, end of period	8,324	$ 8,669
Ending Balance: individually evaluated for impairment	413	87	$ 61
Ending Balance: collectively evaluated for impairment	7,911	8,582	8,774
Loans
Ending balance: individually evaluated for impairment	11,212	11,734	8,011
Ending balance	1,032,089	987,779	983,931
Excluding Purchase Credit Impairment Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	8,066	8,704	8,362
Provision for (recovery of) loan losses	(772)	628	(1,285)
Loans charged-off	(1,156)	(469)	(1,306)
Recoveries	373	459	363
Allowance for loan losses, Balance, end of period	8,055	8,066	8,704
Loans
Ending balance: collectively evaluated for impairment	1,005,164	956,777	952,659
Purchase Credit Impairment Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	603	131	49
Provision for (recovery of) loan losses	334	(472)	(82)
Loans charged-off	0	0	0
Recoveries	0	0	0
Allowance for loan losses, Balance, end of period	269	603	131
Loans
Ending balance: collectively evaluated for impairment	15,713	19,268	23,261
Total Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	8,669	8,835	8,411
Provision for (recovery of) loan losses	(438)	156	(1,367)
Loans charged-off	(1,156)	(469)	(1,306)
Recoveries	373	459	363
Allowance for loan losses, Balance, end of period	8,324	8,669	8,835
Commercial and industrial Other [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending Balance: individually evaluated for impairment	403	51	50
Ending Balance: collectively evaluated for impairment	902	925	757
Loans
Ending balance: individually evaluated for impairment	3,527	3,526	1,083
Ending balance	75,748	74,181	106,164
Commercial and industrial Other [Member] | Excluding Purchase Credit Impairment Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	762	742	1,211
Provision for (recovery of) loan losses	(1,143)	23	607
Loans charged-off	(790)	(196)	(73)
Recoveries	12	239	211
Allowance for loan losses, Balance, end of period	1,127	762	742
Loans
Ending balance: collectively evaluated for impairment	71,118	68,891	102,148
Commercial and industrial Other [Member] | Purchase Credit Impairment Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	214	65	37
Provision for (recovery of) loan losses	36	(149)	(28)
Loans charged-off	0	0	0
Recoveries	0	0	0
Allowance for loan losses, Balance, end of period	178	214	65
Loans
Ending balance: collectively evaluated for impairment	1,103	1,764	2,933
Commercial and industrial Other [Member] | Total Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	976	807	1,248
Provision for (recovery of) loan losses	(1,107)	(126)	579
Loans charged-off	(790)	(196)	(73)
Recoveries	12	239	211
Allowance for loan losses, Balance, end of period	1,305	976	807
Construction [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending Balance: individually evaluated for impairment	0	14	0
Ending Balance: collectively evaluated for impairment	1,737	1,371	1,955
Loans
Ending balance: individually evaluated for impairment	440	588	385
Ending balance	221,878	170,404	177,933
Construction [Member] | Excluding Purchase Credit Impairment Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	1,385	1,955	1,301
Provision for (recovery of) loan losses	(328)	576	(642)
Loans charged-off	0	0	(17)
Recoveries	18	6	29
Allowance for loan losses, Balance, end of period	1,731	1,385	1,955
Loans
Ending balance: collectively evaluated for impairment	220,761	169,065	176,479
Construction [Member] | Purchase Credit Impairment Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	0	0	0
Provision for (recovery of) loan losses	(6)	0	0
Loans charged-off	0	0	0
Recoveries	0	0	0
Allowance for loan losses, Balance, end of period	6	0	0
Loans
Ending balance: collectively evaluated for impairment	677	751	1,069
Construction [Member] | Total Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	1,385	1,955	1,301
Provision for (recovery of) loan losses	(334)	576	(642)
Loans charged-off	0	0	(17)
Recoveries	18	6	29
Allowance for loan losses, Balance, end of period	1,737	1,385	1,955
Commercial real estate [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending Balance: individually evaluated for impairment	0	0	0
Ending Balance: collectively evaluated for impairment	2,851	3,409	3,370
Loans
Ending balance: individually evaluated for impairment	5,585	5,678	4,427
Ending balance	459,115	457,611	403,100
Commercial real estate [Member] | Excluding Purchase Credit Impairment Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	3,024	3,304	3,448
Provision for (recovery of) loan losses	371	326	(754)
Loans charged-off	(10)	(2)	(914)
Recoveries	194	48	16
Allowance for loan losses, Balance, end of period	2,837	3,024	3,304
Loans
Ending balance: collectively evaluated for impairment	447,760	444,354	389,617
Commercial real estate [Member] | Purchase Credit Impairment Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	385	66	0
Provision for (recovery of) loan losses	371	(319)	(66)
Loans charged-off	0	0	0
Recoveries	0	0	0
Allowance for loan losses, Balance, end of period	14	385	66
Loans
Ending balance: collectively evaluated for impairment	5,770	7,579	9,056
Commercial real estate [Member] | Total Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	3,409	3,370	3,448
Provision for (recovery of) loan losses	742	7	(820)
Loans charged-off	(10)	(2)	(914)
Recoveries	194	48	16
Allowance for loan losses, Balance, end of period	2,851	3,409	3,370
1-to-4 family residential [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending Balance: individually evaluated for impairment	10	22	11
Ending Balance: collectively evaluated for impairment	1,483	1,645	1,047
Loans
Ending balance: individually evaluated for impairment	476	709	1,278
Ending balance	151,697	159,597	156,901
1-to-4 family residential [Member] | Excluding Purchase Credit Impairment Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	1,663	1,058	846
Provision for (recovery of) loan losses	259	(585)	(188)
Loans charged-off	0	(12)	(22)
Recoveries	33	32	46
Allowance for loan losses, Balance, end of period	1,437	1,663	1,058
Loans
Ending balance: collectively evaluated for impairment	144,003	150,700	146,504
1-to-4 family residential [Member] | Purchase Credit Impairment Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	4	0	0
Provision for (recovery of) loan losses	(52)	(4)	0
Loans charged-off	0	0	0
Recoveries	0	0	0
Allowance for loan losses, Balance, end of period	56	4	0
Loans
Ending balance: collectively evaluated for impairment	7,218	8,188	9,119
1-to-4 family residential [Member] | Total Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	1,667	1,058	846
Provision for (recovery of) loan losses	207	(589)	(188)
Loans charged-off	0	(12)	(22)
Recoveries	33	32	46
Allowance for loan losses, Balance, end of period	1,493	1,667	1,058
HELOC [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending Balance: individually evaluated for impairment	0	0	0
Ending Balance: collectively evaluated for impairment	329	555	549
Loans
Ending balance: individually evaluated for impairment	703	917	602
Ending balance	44,514	49,713	52,606
HELOC [Member] | Excluding Purchase Credit Impairment Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	555	549	611
Provision for (recovery of) loan losses	169	(31)	(92)
Loans charged-off	(150)	(68)	(179)
Recoveries	93	43	25
Allowance for loan losses, Balance, end of period	329	555	549
Loans
Ending balance: collectively evaluated for impairment	43,763	48,747	51,958
HELOC [Member] | Purchase Credit Impairment Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	0	0	12
Provision for (recovery of) loan losses	0	0	12
Loans charged-off	0	0	0
Recoveries	0	0	0
Allowance for loan losses, Balance, end of period	0	0	0
Loans
Ending balance: collectively evaluated for impairment	48	49	46
HELOC [Member] | Total Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	555	549	623
Provision for (recovery of) loan losses	169	(31)	(80)
Loans charged-off	(150)	(68)	(179)
Recoveries	93	43	25
Allowance for loan losses, Balance, end of period	329	555	549
Loans to individuals & overdrafts [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending Balance: individually evaluated for impairment	0	0	0
Ending Balance: collectively evaluated for impairment	175	206	305
Loans
Ending balance: individually evaluated for impairment	284	101	1
Ending balance	10,013	12,814	10,244
Loans to individuals & overdrafts [Member] | Excluding Purchase Credit Impairment Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	206	305	317
Provision for (recovery of) loan losses	(152)	(1)	(55)
Loans charged-off	(206)	(191)	(101)
Recoveries	23	91	34
Allowance for loan losses, Balance, end of period	175	206	305
Loans
Ending balance: collectively evaluated for impairment	9,729	12,713	10,176
Loans to individuals & overdrafts [Member] | Purchase Credit Impairment Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	0	0	0
Provision for (recovery of) loan losses	0	0	0
Loans charged-off	0	0	0
Recoveries	0	0	0
Allowance for loan losses, Balance, end of period	0	0	0
Loans
Ending balance: collectively evaluated for impairment	0	0	67
Loans to individuals & overdrafts [Member] | Total Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	206	305	317
Provision for (recovery of) loan losses	(152)	(1)	(55)
Loans charged-off	(206)	(191)	(101)
Recoveries	23	91	34
Allowance for loan losses, Balance, end of period	175	206	305
Multi-family residential [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Ending Balance: individually evaluated for impairment	0	0	0
Ending Balance: collectively evaluated for impairment	434	471	791
Loans
Ending balance: individually evaluated for impairment	197	215	235
Ending balance	69,124	63,459	76,983
Multi-family residential [Member] | Excluding Purchase Credit Impairment Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	471	791	628
Provision for (recovery of) loan losses	52	320	(161)
Loans charged-off	0	0	0
Recoveries	0	0	2
Allowance for loan losses, Balance, end of period	419	471	791
Loans
Ending balance: collectively evaluated for impairment	68,030	62,307	75,777
Multi-family residential [Member] | Purchase Credit Impairment Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	0	0	0
Provision for (recovery of) loan losses	(15)	0	0
Loans charged-off	0	0	0
Recoveries	0	0	0
Allowance for loan losses, Balance, end of period	15	0	0
Loans
Ending balance: collectively evaluated for impairment	897	937	971
Multi-family residential [Member] | Total Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for loan losses, Balance, beginning of period	471	791	628
Provision for (recovery of) loan losses	37	320	(161)
Loans charged-off	0	0	0
Recoveries	0	0	2
Allowance for loan losses, Balance, end of period	$ 434	$ 471	$ 791

LOANS - Additional information

LOANS - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Allowance for Credit Losses [Line Items]
Impaired Financing Receivable, Recorded Investment	$ 11,212,000	$ 11,734,000
Impaired Loans Required for Specific Reserves	972,000	291,000
With no related allowance, Recorded Investment	10,240,000	11,443,000
Allowance for Loan and Lease Losses, Period Increase (Decrease)	8,300,000
Allowance for Loan and Lease Losses Write-offs, Net	4,100,000	3,500,000
Aggregate Impaired Loans Required For Specific Reserves	413,000	87,000
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Financing Receivable, Recorded Investment, Past Due, Total	1,200,000	3,200,000
Nonaccrual Impaired Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Impaired Financing Receivable, Recorded Investment	5,900,000	7,300,000
Accrual Impaired Loans [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Impaired Financing Receivable, Recorded Investment	6,200,000	4,400,000
Troubled Debt Restructurings [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Impaired Financing Receivable, Recorded Investment	9,400,000	6,900,000
Troubled Debt Restructuring Accrual Status [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Impaired Financing Receivable, Recorded Investment	6,200,000	4,400,000
Troubled Debt Restructuring Nonaccrual Status [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Impaired Financing Receivable, Recorded Investment	3,200,000	$ 2,500,000
Unused Lines of Credit [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Line of Credit Facility, Maximum Amount Outstanding During Period	$ 234,200,000

OTHER REAL ESTATE OWNED (Detail

OTHER REAL ESTATE OWNED (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
OTHER REAL ESTATE OWNED
Beginning balance January 1	$ 1,088	$ 1,258
Sales	(120)	(717)
Write-downs and gains/(losses) on sales	(49)	(71)
Transfers	2,614	618
Ending balance	$ 3,533	$ 1,088

OTHER REAL ESTATE OWNED - Addit

OTHER REAL ESTATE OWNED - Additional information (Details)	12 Months Ended
	Dec. 31, 2019USD ($)loan	Dec. 31, 2018USD ($)loan	Dec. 31, 2017USD ($)
OTHER REAL ESTATE OWNED
Real Estate Acquired Through Foreclosure	$ 3,533,000	$ 1,088,000	$ 1,258,000
Mortgage Loans in Process of Foreclosure, Amount	$ 114,000	$ 500,000
Mortgage Loans on Real Estate, Number of Loans | loan	3	4

PREMISES AND EQUIPMENT - Summar

PREMISES AND EQUIPMENT - Summary of premises and equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
PREMISES AND EQUIPMENT
Land	$ 4,846	$ 4,913
Buildings	15,692	14,878
Furniture and equipment	8,077	7,455
Leasehold improvements	498	562
Construction in progress		136
Property, Plant and Equipment, Gross	29,113	27,944
Less accumulated depreciation	11,322	10,024
Total	$ 17,791	$ 17,920

PREMISES AND EQUIPMENT - Additi

PREMISES AND EQUIPMENT - Additional information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
PREMISES AND EQUIPMENT
Depreciation	$ 2.8	$ 1.7	$ 1.1

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS - Changes in carrying amounts of goodwill and other intangibles (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
GOODWILL AND OTHER INTANGIBLE ASSETS
Goodwill, Beginning Balance	$ 24,579	$ 24,904	$ 6,931
Goodwill and core deposit intangible resulting from Premara merger	0		17,973
Adjustment of goodwill		(325)
Goodwill, Amortization Expense	0	0	0
Goodwill, Ending Balance	24,579	24,579	24,904
Core Deposit Intangible, Gross - Beginning Balance	5,919	5,919	3,219
Core Deposit Intangible, Gross - Goodwill and core deposit intangible resulting from Premara merger	350		2,700
Core Deposit Intangible, Gross - Adjustment of goodwill		0
Core Deposit Intangible, Gross - Amortization expense	0	0	0
Core Deposit Intangible, Gross - Ending Balance	6,269	5,919	5,919
Core Deposit Intangible, Accumulated Amortization - Beginning Balance	(3,834)	(2,818)	(2,409)
Core Deposit Intangible, Accumulated Amortization - Goodwill and core deposit intangible resulting from Premara merger	0		0
Core Deposit Intangible, Accumulated Amortization - Adjustment of goodwill		0
Core Deposit Intangible, Accumulated Amortization - Amortization expense	(825)	(1,016)	(409)
Core Deposit Intangible, Accumulated Amortization - Ending Balance	(4,659)	(3,834)	(2,818)
Finite-Lived Intangible Assets, Net, Beginning Balance	2,085	3,101	810
Core Deposit Intangible, Net - Goodwill and core deposit intangible resulting from Premara merger	350		2,700
Core Deposit Intangible, Net - Adjustment of goodwill		0
Core Deposit Intangible, Net - Amortization expense	(825)	(1,016)	(409)
Finite-Lived Intangible Assets, Net, Ending Balance	$ 1,610	$ 2,085	$ 3,101

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS - Additional information (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 15, 2017	Dec. 31, 2016
GOODWILL AND OTHER INTANGIBLE ASSETS
2020	$ 628
2021	435
2022	288
2023	147
2024	41
Thereafter	71
Finite-Lived Intangible Assets, Net, Total	$ 1,610	$ 2,085	$ 3,101	$ 2,700	$ 810

DEPOSITS - Maturities of time d

DEPOSITS - Maturities of time deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
DEPOSITS
2020	$ 332,254
2021	81,002
2022	10,764
2023	4,599
2024	641
Thereafter	0
Time Deposits, Total	$ 429,260	$ 427,127

DEPOSITS - Additional informati

DEPOSITS - Additional information (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
DEPOSITS
Time Deposits, $ 250,000 or More	$ 150.4	$ 120.8

REVENUE RECOGNITION - Nonintere

REVENUE RECOGNITION - Noninterest income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Total Non-interest Income	$ 5,419	$ 4,701	$ 3,072
Noninterest Income (in-scope of Topic 606) [Member]
Disaggregation of Revenue [Line Items]
Total Non-interest Income	3,211	2,781	1,859
Noninterest Income (out-of-scope of Topic 606) [Member]
Disaggregation of Revenue [Line Items]
Total Non-interest Income	2,208	1,920	1,213
Service Charges on Deposit Accounts [Member]
Disaggregation of Revenue [Line Items]
Total Non-interest Income	1,161	1,124	899
Other [Member]
Disaggregation of Revenue [Line Items]
Total Non-interest Income	$ 2,050	$ 1,657	$ 960

SHORT-TERM AND LONG -TERM DEBT

SHORT-TERM AND LONG -TERM DEBT (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Fixed Rate Credit One [Member]
Short Term And Long Term Debt [Line Items]
Advance type, Maturity Date	Feb. 2, 2021
Fixed Rate Credit Two [Member]
Short Term And Long Term Debt [Line Items]
Advance type, Maturity Date	Apr. 12, 2023
Fixed Rate Credit Three [Member]
Short Term And Long Term Debt [Line Items]
Advance type, Maturity Date	May 30, 2023
Fixed Rate Credit Four [Member]
Short Term And Long Term Debt [Line Items]
Advance type, Maturity Date	Jun. 28, 2023
Federal Home Loan Bank of Atlanta [Member] | Fixed Rate Credit One [Member]
Short Term And Long Term Debt [Line Items]
Advance type, Amount	$ 20,000
Advance type, Rate	2.53%
Federal Home Loan Bank of Atlanta [Member] | Fixed Rate Credit Two [Member]
Short Term And Long Term Debt [Line Items]
Advance type, Amount	$ 10,000
Advance type, Rate	2.89%
Federal Home Loan Bank of Atlanta [Member] | Fixed Rate Credit Three [Member]
Short Term And Long Term Debt [Line Items]
Advance type, Amount	$ 5,000
Advance type, Rate	2.94%
Federal Home Loan Bank of Atlanta [Member] | Fixed Rate Credit Four [Member]
Short Term And Long Term Debt [Line Items]
Advance type, Amount	$ 10,000
Advance type, Rate	2.97%

SHORT-TERM AND LONG-TERM DEBT -

SHORT-TERM AND LONG-TERM DEBT - Additional information (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Sep. 30, 2004
Short Term And Long Term Debt [Line Items]
Short-term debt	$ 0	$ 7,000
Long-term Debt	57,372	57,372
Federal Home Loan Bank, Advances, Maturities Summary, Due in Next Twelve Months		7,000
Junior Subordinated Notes	12,400	45,000
Federal Home Loan Bank, Advances	45,000
Line of Credit Facility, Maximum Borrowing Capacity	238,900
Loans from Other Federal Home Loan Banks	45,000
Line of Credit Facility, Remaining Borrowing Capacity	173,900
Repurchase Agreements [Member]
Short Term And Long Term Debt [Line Items]
Short-term debt	12,400
Federal Home Loan Bank Advances [Member]
Short Term And Long Term Debt [Line Items]
Loans from Other Federal Home Loan Banks	108,300	$ 142,300
Federal Home Loan Bank of Atlanta [Member]
Short Term And Long Term Debt [Line Items]
Junior Subordinated Notes			$ 12,400
Loans from Other Federal Home Loan Banks	$ 45,000

INCOME TAXES - Provision for in

INCOME TAXES - Provision for income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current tax provision:
Federal	$ 2,699	$ 2,366	$ 3,059
State	412	483	328
Total current tax provision	3,111	2,849	3,387
Deferred tax provision:
Federal	575	943	2,328
State	10	118	(3)
Total deferred tax provision	585	1,061	2,325
Income Tax Expense (Benefit), Total	$ 3,696	$ 3,910	$ 5,712

INCOME TAXES - provision for _2

INCOME TAXES - provision for income taxes and the amounts computed (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
INCOME TAXES
Income tax at federal statutory rate	$ 3,513	$ 3,715	$ 3,025
Increase (decrease) resulting from:
State income taxes, net of federal tax effect	333	475	214
Tax-exempt interest income	(95)	(99)	(128)
Income from life insurance	(141)	(144)	(195)
Incentive stock option expense	41	(2)	39
Merger expenses	0	20	209
Impact of changes in tax rates	0		2,591
Other permanent differences	45	(55)	(43)
Provision for income taxes	$ 3,696	$ 3,910	$ 5,712

INCOME TAXES - Significant comp

INCOME TAXES - Significant components of deferred taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets relating to:
Allowance for loan losses	$ 1,913	$ 1,992
Deferred compensation	116	132
Unrealized losses on available-for-sale securities	0	(17)
Net operating loss carryforwards	541	999
Acquisition accounting	1,024	1,107
Write-downs on foreclosed real estate	120	108
Other	229	269
Total deferred tax assets	3,943	4,590
Deferred tax liabilities relating to:
Premises and equipment	(796)	(721)
Deferred loan fees/costs	(73)	(67)
Unrealized gains on available-for-sale securities	(268)	0
Core deposit intangible	(8)	(140)
Total deferred tax liabilities	(1,145)	(928)
Net recorded deferred tax asset, included in other assets	$ 2,798	$ 3,662

INCOME TAXES - Additional infor

INCOME TAXES - Additional information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Taxes [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate	21.00%	35.00%	34.00%
Deferred Tax Assets, Net	$ 2,798	$ 3,662
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability		$ 2,600
Operating Loss Carryforwards	$ 2,600
North Carolina [Member]
Income Taxes [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate	3.00%
Scenario, Plan [Member]
Income Taxes [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate	21.00%
Scenario, Plan [Member] | North Carolina [Member]
Income Taxes [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate	2.50%

REGULATORY MATTERS - Minimum re

REGULATORY MATTERS - Minimum regulatory capital requirements (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Capital, Actual Amount	$ 177,223	$ 162,507
Capital to Risk Weighted Assets, Actual Ratio	15.69%	15.45%
Capital Required for Capital Adequacy, Amount	$ 90,366	$ 84,124
Capital Required for Capital Adequacy to Risk Weighted Assets, Ratio	8.00%	8.00%
Capital Required to be Well Capitalized	$ 112,958	$ 105,156
Capital Required to be Well Capitalized to Risk Weighted Assets	10.00%	10.00%
Tier One Risk Based Capital, Actual Amount	$ 168,899	$ 153,838
Tier One Risk Based Capital to Risk Weighted Assets, Actual Ratio	14.95%	14.63%
Tier One Risk Based Capital Required for Capital Adequacy, Amount	$ 67,775	$ 63,093
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets, Ratio	6.00%	6.00%
Tier One Risk Based Capital Required to be Well Capitalized	$ 90,366	$ 84,124
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets	8.00%	8.00%
Common Equity Tier One Risk Based Capital, Amount	$ 168,899	$ 153,838
Common Equity Tier One Risk Based Capital to Risk Weighted Assets, Ratio	14.95%	14.63%
Common Equity Tier One Risk Based Capital Required for Capital Adequacy, Amount	$ 50,831	$ 47,320
Common Equity Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets, Ratio	4.50%	4.50%
Common Equity Tier One Risk Based Capital Required to be Well Capitalized, Amount	$ 73,422	$ 68,351
Common Equity Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets, Ratio	6.50%	6.50%
Tier One Leverage Capital, Actual Amount	$ 168,899	$ 153,838
Tier One Leverage Capital to Average Assets, Actual Ratio	13.59%	12.42%
Tier One Leverage Capital Required for Capital Adequacy, Amount	$ 49,730	$ 49,557
Tier One Leverage Capital Required for Capital Adequacy to Average Assets, Ratio	4.00%	4.00%
Tier One Leverage Capital Required to be Well Capitalized	$ 62,162	$ 61,947
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	5.00%	5.00%
Subsidiaries [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Capital, Actual Amount	$ 205,462	$ 202,675
Capital to Risk Weighted Assets, Actual Ratio	18.26%	19.26%
Capital Required for Capital Adequacy, Amount	$ 90,003	$ 84,179
Capital Required for Capital Adequacy to Risk Weighted Assets, Ratio	8.00%	8.00%
Tier One Risk Based Capital, Actual Amount	$ 197,138	$ 194,006
Tier One Risk Based Capital to Risk Weighted Assets, Actual Ratio	17.52%	18.44%
Tier One Risk Based Capital Required for Capital Adequacy, Amount	$ 67,502	$ 63,135
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets, Ratio	6.00%	6.00%
Common Equity Tier One Risk Based Capital, Amount	$ 185,138	$ 182,006
Common Equity Tier One Risk Based Capital to Risk Weighted Assets, Ratio	16.46%	17.30%
Common Equity Tier One Risk Based Capital Required for Capital Adequacy, Amount	$ 50,627	$ 47,351
Common Equity Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets, Ratio	4.50%	4.50%
Tier One Leverage Capital, Actual Amount	$ 197,138	$ 194,006
Tier One Leverage Capital to Average Assets, Actual Ratio	15.84%	15.65%
Tier One Leverage Capital Required for Capital Adequacy, Amount	$ 49,777	$ 49,576
Tier One Leverage Capital Required for Capital Adequacy to Average Assets, Ratio	4.00%	4.00%

REGULATORY MATTERS - Additional

REGULATORY MATTERS - Additional information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Junior Subordinated Notes	$ 12.4	$ 45
Trust Preferred Securities [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Proceeds from Issuance of Trust Preferred Securities	$ 12

OFF-BALANCE SHEET RISK - Off-ba

OFF-BALANCE SHEET RISK - Off-balance sheet credit risk (Details) $ in Thousands	Dec. 31, 2019USD ($)
Undisbursed Commitments [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Asset	$ 234,191
Letters Of Credit [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Fair Value Disclosure, Off-balance Sheet Risks, Amount, Asset	$ 2,367

OFF-BALANCE SHEET RISK - Additi

OFF-BALANCE SHEET RISK - Additional information (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
OFF-BALANCE SHEET RISK
Other Commitment	$ 425,000	$ 425,000

FAIR VALUE MEASUREMENTS - Fair

FAIR VALUE MEASUREMENTS - Fair value measurement on recurring basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
U.S. government agencies - GSEs [Member]
Total investment AFS	$ 9,996	$ 9,837
Mortgage-backed securities - GSEs [Member]
Total investment AFS	47,743	22,983
Total Investment Held For Sale [Member]
Total investment AFS	72,367	51,533
Municipal bonds [Member]
Total investment AFS	12,329	16,991
Corporate Debt Securities [Member]
Total investment AFS	2,299	1,722
Fair Value, Inputs, Level 1 [Member] | U.S. government agencies - GSEs [Member]
Total investment AFS	0	0
Fair Value, Inputs, Level 1 [Member] | Mortgage-backed securities - GSEs [Member]
Total investment AFS	0	0
Fair Value, Inputs, Level 1 [Member] | Total Investment Held For Sale [Member]
Total investment AFS	0	0
Fair Value, Inputs, Level 1 [Member] | Municipal bonds [Member]
Total investment AFS	0	0
Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member]
Total investment AFS	0	0
Fair Value, Inputs, Level 2 [Member] | U.S. government agencies - GSEs [Member]
Total investment AFS	9,996	9,837
Fair Value, Inputs, Level 2 [Member] | Mortgage-backed securities - GSEs [Member]
Total investment AFS	47,743	22,983
Fair Value, Inputs, Level 2 [Member] | Total Investment Held For Sale [Member]
Total investment AFS	72,367	51,533
Fair Value, Inputs, Level 2 [Member] | Municipal bonds [Member]
Total investment AFS	12,329	16,991
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member]
Total investment AFS	2,299	1,722
Fair Value, Inputs, Level 3 [Member] | U.S. government agencies - GSEs [Member]
Total investment AFS	0	0
Fair Value, Inputs, Level 3 [Member] | Mortgage-backed securities - GSEs [Member]
Total investment AFS	0	0
Fair Value, Inputs, Level 3 [Member] | Total Investment Held For Sale [Member]
Total investment AFS	0	0
Fair Value, Inputs, Level 3 [Member] | Municipal bonds [Member]
Total investment AFS	0	0
Fair Value, Inputs, Level 3 [Member] | Corporate Debt Securities [Member]
Total investment AFS	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Fai_2

FAIR VALUE MEASUREMENTS - Fair value measurement on non-recurring basis (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Total	$ 9,474	$ 9,013
Impaired Loans [Member]
Total	5,941	7,257
Assets held for sale [Member]
Total		668
Foreclosed Real Estate [Member]
Total	3,533	1,088
Fair Value, Inputs, Level 1 [Member]
Total	0	0
Fair Value, Inputs, Level 1 [Member] | Impaired Loans [Member]
Total	0	0
Fair Value, Inputs, Level 1 [Member] | Assets held for sale [Member]
Total		0
Fair Value, Inputs, Level 1 [Member] | Foreclosed Real Estate [Member]
Total	0	0
Fair Value, Inputs, Level 2 [Member]
Total	0	0
Fair Value, Inputs, Level 2 [Member] | Impaired Loans [Member]
Total	0	0
Fair Value, Inputs, Level 2 [Member] | Assets held for sale [Member]
Total		0
Fair Value, Inputs, Level 2 [Member] | Foreclosed Real Estate [Member]
Total	0	0
Fair Value, Inputs, Level 3 [Member]
Total	9,474	9,013
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member]
Total	5,941	7,257
Fair Value, Inputs, Level 3 [Member] | Assets held for sale [Member]
Total		668
Fair Value, Inputs, Level 3 [Member] | Foreclosed Real Estate [Member]
Total	$ 3,533	$ 1,088

FAIR VALUE MEASUREMENTS - Carry

FAIR VALUE MEASUREMENTS - Carrying values and estimated fair values (Details ) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 15, 2017
Financial assets:
Cash and due from banks	$ 19,110	$ 17,059
Certificates of deposit		1,000
Interest-earning deposits in other banks	50,920	121,303
Federal funds sold	9,047	0
Investment securities available for sale	72,367	51,533
Loans held for sale	928	580
Loans, net	1,021,651	977,371
Accrued interest receivable	4,189	3,889
Stock in FHLB	3,045	3,283
Other non-marketable securities	719	762
Assets held for sale		668
Financial liabilities:
Deposits	992,838	980,427	$ 226,661
Short-term debt	0	7,000
Long-term debt	57,372	57,372
Accrued interest payable	578	667
Estimated Fair Value [Member]
Financial assets:
Cash and due from banks	19,110	17,059
Certificates of deposit		1,000
Interest-earning deposits in other banks	50,920	121,303
Federal funds sold	9,047
Investment securities available for sale	72,367	51,533
Loans held for sale	928	580
Loans, net	1,016,239	970,330
Accrued interest receivable	4,189	3,889
Stock in FHLB	3,045	3,283
Other non-marketable securities	719	762
Assets held for sale		668
Financial liabilities:
Deposits	995,056	979,570
Short-term debt		7,000
Long-term debt	55,429	55,504
Accrued interest payable	578	667
Fair Value, Inputs, Level 1 [Member]
Financial assets:
Cash and due from banks	19,110	17,059
Certificates of deposit		1,000
Interest-earning deposits in other banks	50,920	121,303
Federal funds sold	9,047
Investment securities available for sale	0	0
Loans held for sale	0	0
Loans, net	0	0
Accrued interest receivable	0	0
Stock in FHLB	0	0
Other non-marketable securities	0	0
Assets held for sale		0
Financial liabilities:
Deposits	0	0
Short-term debt		0
Long-term debt	0	0
Accrued interest payable	0	0
Fair Value, Inputs, Level 2 [Member]
Financial assets:
Cash and due from banks	0	0
Certificates of deposit		0
Interest-earning deposits in other banks	0	0
Federal funds sold	0
Investment securities available for sale	72,367	51,533
Loans held for sale	928	580
Loans, net	0	0
Accrued interest receivable	4,189	3,889
Stock in FHLB	0	0
Other non-marketable securities	0	0
Assets held for sale		0
Financial liabilities:
Deposits	995,056	979,570
Short-term debt		7,000
Long-term debt	55,429	55,504
Accrued interest payable	578	667
Fair Value, Inputs, Level 3 [Member]
Financial assets:
Cash and due from banks	0	0
Certificates of deposit		0
Interest-earning deposits in other banks	0	0
Federal funds sold	0
Investment securities available for sale	0	0
Loans held for sale	0	0
Loans, net	1,016,239	970,330
Accrued interest receivable	0	0
Stock in FHLB	3,045	3,283
Other non-marketable securities	719	762
Assets held for sale		668
Financial liabilities:
Deposits	0	0
Short-term debt		0
Long-term debt	0	0
Accrued interest payable	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Addit

FAIR VALUE MEASUREMENTS - Additional information (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Impaired Loans Receivable	$ 11,200,000	$ 11,700,000
Impaired Loans Required for Specific Reserves	972,000	291,000
Impaired Loans Specific Reserves	413,000	87,000
Other Impaired Loans Without Specific Reserves	438,000	595,000,000,000
Fair Value, Measurements, Nonrecurring [Member]
Assets, Fair Value Disclosure	$ 9,474,000	$ 9,013,000
Minimum [Member]
Percentage Of Discount From Foreclosed Real Estate	1.00%	5.00%
Percentage Of Discount From Assets held for sale	1.00%
Minimum [Member] | Fair Value, Measurements, Nonrecurring [Member]
Percentage Of Discount From Foreclosed Real Estate	6.00%	6.00%
Maximum [Member]
Percentage Of Discount From Impaired Loans	50.00%	50.00%
Percentage Of Discount From Assets held for sale	25.00%
Maximum [Member] | Fair Value, Measurements, Nonrecurring [Member]
Percentage Of Discount From Foreclosed Real Estate	10.00%	10.00%
Fair Value [Member] | Fair Value, Measurements, Nonrecurring [Member]
Assets, Fair Value Disclosure	$ 5,900,000	$ 7,300,000

EMPLOYEE AND DIRECTOR BENEFIT_3

EMPLOYEE AND DIRECTOR BENEFIT PLANS - Weighted average fair market value of option (Details) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
EMPLOYEE AND DIRECTOR BENEFIT PLANS
Estimated fair value of options granted	$ 5.99	$ 6.07	$ 5.47
Assumptions in estimating average option values:
Risk-free interest rate	2.59%	2.94%	2.07%
Dividend yield	0.00%	0.00%	0.00%
Volatility	42.18%	36.67%	42.42%
Expected life (in years)	8 years	8 years	8 years

EMPLOYEE AND DIRECTOR BENEFIT_4

EMPLOYEE AND DIRECTOR BENEFIT PLANS- Company's option plans (Details)	12 Months Ended
	Dec. 31, 2019$ / sharesshares
EMPLOYEE AND DIRECTOR BENEFIT PLANS
Shares Available for Future Grants, Beginning Balance	597,500
Shares Available for Future Grants, Options granted/vested	(58,500)
Shares Available for Future Grants, Stock grants	(10,569)
Shares Available for Future Grants, Options exercised	26,813
Shares Available for Future Grants, Options forfeited	3,100
Shares Available for Future Grants, Ending Balance	568,913
Number Of Options Outstanding, Beginning Balance	239,955
Number Of Options, granted/vested	58,500
Number Of Options, Exercised	(26,813)
Number Of Options, Expired	0
Number Of Options, Forfeited	(3,100)
Number Of Options Outstanding, Ending Balance	268,542
Outstanding Options, Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 8.63
Outstanding Options, Weighted Average Exercise Price, Options granted/vested | $ / shares	$ 0
Weighted Average Exercise Price, Outstanding Stock grants	12.30%
Outstanding Options, Weighted Average Exercise Price, Options exercised | $ / shares	$ 8.50
Outstanding Options, Weighted Average Exercise Price, Options expired | $ / shares	0
Outstanding Options, Weighted Average Exercise Price, Options forfeited | $ / shares	10.92
Outstanding Options, Weighted Average Exercise Price, Ending Balance | $ / shares	$ 9.55
Exercisable Options, Number Outstanding, Beginning Balance	113,013
Exercisable Options, Number Outstanding, Options granted/vested	35,660
Exercisable Options, Number Outstanding, Options exercised	(26,813)
Exercisable Options, Number Outstanding, Options expired	0
Exercisable Options, Number Outstanding, Options forfeited	(200)
Exercisable Options, Number Outstanding, Ending Balance	121,660
Exercisable Options, Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 6.71
Exercisable Options, Weighted Average Exercise Price, Options granted/vested | $ / shares	0
Exercisable Options, Weighted Average Exercise Price, Options exercised | $ / shares	8.50
Exercisable Options, Weighted Average Exercise Price, Options expired | $ / shares	0
Exercisable Options, Weighted Average Exercise Price, Options forfeited | $ / shares	5.25
Exercisable Options, Weighted Average Exercise Price, Ending Balance | $ / shares	$ 7.80

EMPLOYEE AND DIRECTOR BENEFIT_5

EMPLOYEE AND DIRECTOR BENEFIT PLANS - Stock options outstanding (Details)	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding, at end of year	268,542
Number of options exercisable, Outstanding at end of year	121,660
Excercise Price Range One [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding, at end of year	67,922
Number of options exercisable, Outstanding at end of year	62,920
Range of Exercise Prices, Lower Limit | $ / shares	$ 2.25
Range of Exercise Prices, Upper Limit | $ / shares	$ 7.07
Excercise Price Range Two [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding, at end of year	41,620
Number of options exercisable, Outstanding at end of year	18,040
Range of Exercise Prices, Lower Limit | $ / shares	$ 7.08
Range of Exercise Prices, Upper Limit | $ / shares	$ 10.69
Excercise Price Range Three [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of options outstanding, at end of year	159,000
Number of options exercisable, Outstanding at end of year	40,700
Range of Exercise Prices, Lower Limit | $ / shares	$ 10.70
Range of Exercise Prices, Upper Limit | $ / shares	$ 12.99

EMPLOYEE AND DIRECTOR BENEFIT_6

EMPLOYEE AND DIRECTOR BENEFIT PLANS -Company's non-vested options (Details)	12 Months Ended
	Dec. 31, 2019$ / sharesshares
Non-vested Options
Non-vested options at Beginning Balance | shares	126,942
Number Of Options, granted/vested | shares	58,500
Non-vested options, Vested | shares	(35,660)
Non-vested options, Expired | shares	0
Non-vested options, Forfeited | shares	(3,100)
Non-vested options at Ending Balance | shares	146,882
Weighted-Average Grant Date Fair Value
Non-vested, Weighted-Average Grant Date Fair Value at Beginning Balance | $ / shares	$ 5.16
Non-vested granted, Weighted-Average Grant Date Fair Value | $ / shares	5.99
Non-vested vested, Weighted-Average Grant Date Fair Value | $ / shares	5.02
Non-vested Expired, Weighted-Average Grant Date Fair Value | $ / shares	0
Non-vested forfeited, Weighted-Average Grant Date Fair Value | $ / shares	5.55
Non-vested Vested, Weighted-Average Grant Date Fair Value at Ending Balance | $ / shares	$ 5.51

EMPLOYEE AND DIRECTOR BENEFIT_7

EMPLOYEE AND DIRECTOR BENEFIT PLANS - Additional information (Details)	12 Months Ended
	Dec. 31, 2019USD ($)itemshares	Dec. 31, 2018USD ($)shares	Dec. 31, 2017USD ($)
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 460,000	$ 642,000	$ 768,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	6 years 6 months 26 days	4 years 10 months 6 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	6 years 6 months 26 days	4 years 9 months
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	$ 740,000	$ 900,000,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value	548,000	641,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	148,000	213,000	197,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value	$ 179,000	181,000	66,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	1 year 7 months 13 days
Deferred Compensation Liability, Current	$ 2,800,000	2,600,000
Proceeds from Stock Options Exercised	$ 228,000	$ 187,000	166,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | shares	268,542	239,955
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares	568,913	597,500
Number of stock grants awarded to independent directors | shares	10,569
Value of stock grants awarded to independent directors	$ 130,000
Number of shares, that each director will receive | shares	813
Deferred Profit Sharing [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Allocated Share-based Compensation Expense	$ 698,000	$ 639,000	465,000
Nonqualified Supplemental Executive Retirement Plan [Member] | Chief Executive Officer [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Defined Benefit Plan Provisions	81,000	36,000	53,000
Liability, Defined Benefit Pension Plan	$ 24,000	85,000
Nonqualified Supplemental Executive Retirement Plan [Member] | Executives [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of executives for whom supplemental executive retirement plan was approved | item	2
Defined Benefit Plan Provisions	$ 64,000
Liability, Defined Benefit Pension Plan	64,000
Other Postretirement Benefit Plans, Defined Benefit1 [Member] | Chief Executive Officer [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Defined Benefit Plan Provisions	81,000	(35,000)	36,000
Liability, Defined Benefit Pension Plan	265,000	286,000
Deferral Plan [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Allocated Share-based Compensation Expense	$ 200,000	$ 97,000	$ 178,000
2004 Omnibus Plan [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | shares	13,000
2008 Omnibus Plan [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | shares	33,200
2010 Omnibus Plan [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | shares	163,700
2018 Omnibus Plan [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | shares	58,500
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares	568,900

PARENT COMPANY FINANCIAL DATA -

PARENT COMPANY FINANCIAL DATA - Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2015
Assets
Cash balances with Select Bank & Trust	$ 79,077	$ 139,362	$ 62,695	$ 55,714
Other assets	7,202	6,288
Total Assets	1,275,076	1,258,525
Liabilities and Shareholders' Equity
Junior subordinated debentures	12,400	45,000
Total Liabilities	1,062,301	1,048,914
Shareholders' equity:
Preferred stock	0	0
Common stock	18,330	19,312
Additional paid-in capital	140,870	150,718
Retained earnings	52,675	39,640
Common stock issued to deferred compensation trust, at cost; 312,956 and 303,239 shares outstanding at September 30,	(2,815)	(2,615)
Directors' Deferred Compensation Plan Rabbi Trust	2,815	2,615
Accumulated other comprehensive income	900	(59)
Total Shareholders' Equity	212,775	209,611
Total Liabilities and Shareholders' Equity	1,275,076	1,258,525
Parent Company [Member]
Assets
Cash balances with Select Bank & Trust	22,556	34,949	$ 12,617	$ 314
Investment in Select Bank & Trust	196,536	181,442
Investment in New Century Statutory Trust I	598	580
Other assets	5,711	5,255
Total Assets	225,401	222,226
Liabilities and Shareholders' Equity
Junior subordinated debentures	12,372	12,372
Accrued interest and other liabilities	254	243
Total Liabilities	12,626	12,615
Shareholders' equity:
Preferred stock	0	0
Common stock	18,330	19,312
Additional paid-in capital	140,870	150,718
Retained earnings	52,675	39,640
Common stock issued to deferred compensation trust, at cost; 312,956 and 303,239 shares outstanding at September 30,	(2,815)	(2,615)
Directors' Deferred Compensation Plan Rabbi Trust	2,815	2,615
Accumulated other comprehensive income	900	(59)
Total Shareholders' Equity	212,775	209,611
Total Liabilities and Shareholders' Equity	$ 225,401	$ 222,226

PARENT COMPANY FINANCIAL DATA_2

PARENT COMPANY FINANCIAL DATA -Condensed Statements of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Condensed Income Statements, Captions [Line Items]
Income tax benefit	$ (3,696)	$ (3,910)	$ (5,712)
Net income	13,035	13,782	3,185
Parent Company [Member]
Condensed Income Statements, Captions [Line Items]
Equity in earnings of subsidiaries	14,153	39,153	(9,236)
Subsidiary Investment Income Dividend	0	(25,000)	0
Dividends in excess of earnings	434	642	13,291
Operating expense	(1,862)	(1,275)	(1,175)
Income tax benefit	310	262	305
Net income	$ 13,035	$ 13,782	$ 3,185

PARENT COMPANY FINANCIAL DATA_3

PARENT COMPANY FINANCIAL DATA - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2015
NET CASH PROVIDED BY OPERATING ACTIVITIES
Net income	$ 13,035	$ 13,782	$ 3,185
Stock based compensation	369	178	115
Net change in other assets	(1,708)	2,578	526
Net cash provided by (used) operating activities	13,359	4,813	6,558
CASH FLOWS FROM INVESTING ACTIVITIES
Cash received from branch acquisition	24,093	0	28,513
Net cash used in investing activities	(42,128)	9,567	(47,724)
CASH FLOWS FROM FINANCING ACTIVITIES
Repurchase common stock	(11,427)	0	0
Proceeds from issuance of common stock	0	63,250	0
Direct expenses related to capital transaction	0	3,444	0
Net cash provided by (used) financing activities	(31,516)	62,287	48,147
Net increase in cash and cash equivalents	(60,285)	76,667	6,981
Cash and cash equivalents at beginning of year	79,077	139,362	62,695	$ 55,714
Cash and cash equivalents, end of year	79,077	139,362	62,695	55,714
Parent Company [Member]
NET CASH PROVIDED BY OPERATING ACTIVITIES
Net income	13,035	13,782	3,185
Equity in undistributed income of subsidiaries	(14,153)	(39,153)	9,236
Stock based compensation	369	178	115
Net change in other assets	(456)	(283)	(315)
Net change in other liabilities	11	(12,185)	12,066
Net cash provided by (used) operating activities	(1,194)	(37,661)	24,287
CASH FLOWS FROM INVESTING ACTIVITIES
Cash received from branch acquisition	0	0	257
Investment in subsidiary	0	0	(12,407)
Net cash used in investing activities	0	0	(12,150)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from stock option exercises	228	187	166
Repurchase common stock	11,427	0	0
Proceeds from issuance of common stock	0	63,250	0
Direct expenses related to capital transaction	0	(3,444)	0
Net cash provided by (used) financing activities	(11,199)	59,993	166
Net increase in cash and cash equivalents	(12,393)	22,332	12,303
Cash and cash equivalents at beginning of year	22,556	34,949	12,617	314
Cash and cash equivalents, end of year	$ 22,556	$ 34,949	$ 12,617	$ 314

RELATED PARTY TRANSACTIONS - Su

RELATED PARTY TRANSACTIONS - Summary of related party loan transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Receivables, Other, Related Parties and Retainage [Abstract]
Balance at January 1	$ 12,658	$ 13,520
Exposure of directors/executive officers added	0	0
Borrowings	5,110	1,312
Directors/executive officers resigned or retired from board	(647)	0
Loan repayments	(9,894)	(2,174)
Balance at December 31	$ 7,227	$ 12,658

RELATED PARTY TRANSACTIONS - Ad

RELATED PARTY TRANSACTIONS - Additional information (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Loans and Leases Receivable, Related Parties	$ 7,227	$ 12,658	$ 13,520
Related Party Deposit Liabilities	35,500
Unused Lines of Credit [Member]
Related Party Transaction [Line Items]
Loans and Leases Receivable, Related Parties	$ 2,800

CAPITAL TRANSACTIONS - Addition

CAPITAL TRANSACTIONS - Additional information (Details) - USD ($)	Aug. 27, 2018	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Sep. 17, 2019	Dec. 31, 2017	Aug. 31, 2016
Capital Transaction [Line Items]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares				1.0463	948,080
Common Stock, Shares, Outstanding		18,330,058		18,330,058	19,311,505
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 12.65		$ 12.65	$ 12.65		$ 12.65
Payments to Acquire Businesses, Gross					$ 11,993,212
Stock Issued During Period, Shares, New Issues	5,270,834
Sale of Stock, Number of Shares Issued in Transaction	4,583,334
Common Stock, Par or Stated Value Per Share	$ 1	$ 1		$ 1	$ 1
Shares Issued, Price Per Share	$ 12
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right	687,500
Proceeds from Issuance Initial Public Offering	$ 59,800,000
Plan 1
Capital Transaction [Line Items]
Authorized shares								581,518
Plan 2
Capital Transaction [Line Items]
Authorized shares						937,248
Shares repurchased		426,742	426,742
Authorized shares remaining		510,506	510,506	510,506
Premara [Member]
Capital Transaction [Line Items]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares				2,231,728
Common Shares Outstanding Percentage		30.00%		30.00%
Payments to Acquire Businesses, Gross				$ 11,993,212
Business Combination Shares Issued Ratio				1.0463
Common Stock
Capital Transaction [Line Items]
Stock Issued During Period, Shares, New Issues				2,334,999
Common Stock | Premara [Member]
Capital Transaction [Line Items]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares				3,179,808
Common Stock, Shares, Outstanding		948,080		948,080

LEASES - Future minimum lease p

LEASES - Future minimum lease payments (Details) $ in Thousands	Dec. 31, 2019USD ($)
LEASES
2020	$ 1,071
2021	1,097
2022	1,128
2023	1,063
2024	996
Years thereafter	6,400
Total Lease Payments	$ 11,755

LEASES - Lease expense (Details

LEASES - Lease expense (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
LEASES
Operating lease cost	$ 1,054

LEASES - Cash flow information

LEASES - Cash flow information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
LEASES
Operating cash flows from operating leases	$ 1,054,000	$ 1,200,000	$ 408,000
Operating leases	$ 8,596,000

LEASES - Weighted average lease

LEASES - Weighted average lease terms and discount rates (Details)	Dec. 31, 2019
LEASES
Weighted Average Remaining Lease Term - Operating leases	6 years 9 months 18 days
Weighted Average Discount Rate - Operating leases	6.00%

LEASES - Maturities of lease li

LEASES - Maturities of lease liabilities (Details) $ in Thousands	Dec. 31, 2019USD ($)
LEASES
2020	$ 580
2021	642
2022	714
2023	693
2024	665
Thereafter	5,150
Lease payments	8,444
Amounts representing interest	(269)
Present Value of Net Future Minimum Lease Payments	$ 8,175
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Present Value of Net Future Minimum Lease Payments

LEASES - Additional information

LEASES - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Lessee, Lease, Description [Line Items]
Payments under operating leases	$ 1,054,000	$ 1,200,000	$ 408,000
Rental income earned on office space leased to third parties	$ 449,000	$ 426,000	$ 148,000
Minimum [Member]
Lessee, Lease, Description [Line Items]
Operating Lease, Weighted Average Remaining Lease Term	1 year
Lessee, Operating Lease, Renewal Term	1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Operating Lease, Weighted Average Remaining Lease Term	15 years
Lessee, Operating Lease, Options to Extend	5 years
Lessee, Operating Lease, Option to Expire	1 year
Lessee, Operating Lease, Renewal Term	25 years