Document and Entity Information
Document and Entity Information - $ / shares | 3 Months Ended | |
Mar. 31, 2021 | Apr. 30, 2021 | |
Cover [Abstract] | ||
Entity Central Index Key | 0001263762 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2021 | |
Document Transition Report | false | |
Entity File Number | 000-50400 | |
Entity Registrant Name | Select Bancorp, Inc. | |
Entity Incorporation, State or Country Code | NC | |
Entity Tax Identification Number | 20-0218264 | |
Entity Address, Address Line One | 700 W. Cumberland Street | |
Entity Address, City or Town | Dunn | |
Entity Address, State or Province | NC | |
Entity Address, Postal Zip Code | 28334 | |
City Area Code | 910 | |
Local Phone Number | 892-7080 | |
Title of 12(b) Security | Common stock, par value $1.00 per share | |
Entity Listing, Par Value Per Share | $ 1 | |
Trading Symbol | SLCT | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 17,227,104 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
ASSETS | ||
Cash and due from banks | $ 22,533 | $ 23,324 |
Interest-earning deposits in other banks | 133,884 | 87,399 |
Certificates of deposit | 250 | |
Federal funds sold | 4,966 | 5,364 |
Investment securities available for sale, at fair value | 208,648 | 194,492 |
Loans held for sale | 3,953 | 2,064 |
Loans | 1,342,316 | 1,304,384 |
Allowance for loan losses | (13,187) | (14,108) |
NET LOANS | 1,329,129 | 1,290,276 |
Accrued interest receivable | 4,991 | 5,110 |
Stock in Federal Home Loan Bank of Atlanta ("FHLB"), at cost | 862 | 1,147 |
Other non-marketable securities | 655 | 709 |
Foreclosed real estate | 1,968 | 2,172 |
Premises and equipment, net | 20,222 | 20,587 |
Right of use lease asset | 8,358 | 8,558 |
Bank owned life insurance | 30,586 | 30,432 |
Goodwill | 42,907 | 42,907 |
Core deposit intangible ("CDI") | 1,363 | 1,513 |
Other assets | 17,054 | 13,991 |
TOTAL ASSETS | 1,832,329 | 1,730,045 |
Deposits: | ||
Demand | 448,835 | 395,916 |
Savings | 55,184 | 51,843 |
Money market and NOW | 708,172 | 649,677 |
Time | 370,446 | 388,381 |
TOTAL DEPOSITS | 1,582,637 | 1,485,817 |
Long-term debt | 12,372 | 12,372 |
Lease liability | 8,766 | 8,930 |
Accrued interest payable | 206 | 246 |
Accrued expenses and other liabilities | 15,859 | 7,312 |
TOTAL LIABILITIES | 1,619,840 | 1,514,677 |
Shareholders' Equity: | ||
Preferred stock, no par value, 5,000,000 shares authorized; no preferred shares were issued and outstanding at March 31, 2021 and December 31, 2020 | ||
Common stock, $1 par value, 50,000,000 shares authorized; 17,227,104 and 17,507,103 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively | 17,227 | 17,507 |
Additional paid-in capital | 132,400 | 135,058 |
Retained earnings | 67,178 | 60,838 |
Common stock issued to deferred compensation trust, at cost; 272,509 and 274,956 shares outstanding at March 31, 2021 and December 31, 2020, respectively | (2,449) | (2,416) |
Directors' Deferred Compensation Plan Rabbi Trust | 2,449 | 2,416 |
Accumulated other comprehensive income (loss) | (4,316) | 1,965 |
TOTAL SHAREHOLDERS' EQUITY | 212,489 | 215,368 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 1,832,329 | $ 1,730,045 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Mar. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Dec. 31, 2019 |
Preferred stock | ||||
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 | ||
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 | ||
Preferred stock, shares issued (in shares) | 0 | 0 | ||
Preferred stock, shares outstanding (in shares) | 0 | 0 | ||
Common stock | ||||
Common stock, par value (in dollars per share) | $ 1 | $ 1 | ||
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 | ||
Common stock, shares issued (in shares) | 17,227,104 | 17,507,103 | ||
Common stock, shares outstanding (in shares) | 17,227,104 | 17,507,103 | ||
Deferred Comp Plan | ||||
Common stock | ||||
Common stock, shares outstanding (in shares) | 272,509 | 274,956 |
CONSOLIDATED STATEMENTS OF OPER
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
INTEREST INCOME | ||
Loans | $ 17,035 | $ 13,589 |
Federal funds sold and interest-earning deposits in other banks | 25 | 168 |
Investments | 920 | 421 |
TOTAL INTEREST INCOME | 17,980 | 14,178 |
INTEREST EXPENSE | ||
Money market, NOW and savings deposits | 924 | 348 |
Time deposits | 1,038 | 1,931 |
Short-term debt | 16 | 87 |
Long-term debt | 71 | 352 |
TOTAL INTEREST EXPENSE | 2,049 | 2,718 |
NET INTEREST INCOME | 15,931 | 11,460 |
PROVISION FOR (RECOVERY OF) LOAN LOSSES | (777) | 2,273 |
NET INTEREST INCOME AFTER PROVISION FOR (RECOVERY OF) LOAN LOSSES | 16,708 | 9,187 |
NON-INTEREST INCOME | ||
Fees on the sale of mortgages | 288 | 185 |
Fees from the sale of SBA loans | 197 | 108 |
Other fees and income | 941 | 813 |
TOTAL NON-INTEREST INCOME | 1,682 | 1,444 |
NON-INTEREST EXPENSE | ||
Personnel | 6,132 | 5,632 |
Occupancy and equipment | 990 | 931 |
Deposit insurance | 380 | (12) |
Professional fees | 462 | 372 |
CDI amortization | 150 | 179 |
Merger/acquisition related expenses | 39 | |
Information systems | 1,046 | 1,038 |
Foreclosure-related expenses | (140) | 5 |
Other | 1,176 | 1,063 |
TOTAL NON-INTEREST EXPENSE | 10,196 | 9,247 |
INCOME BEFORE INCOME TAX | 8,194 | 1,384 |
INCOME TAX | 1,854 | 280 |
NET INCOME | $ 6,340 | $ 1,104 |
NET INCOME PER COMMON SHARE | ||
Basic (in dollars per share) | $ 0.36 | $ 0.06 |
Diluted (in dollars per share) | $ 0.36 | $ 0.06 |
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING | ||
Basic (in dollars per share) | 17,386,715 | 18,255,351 |
Diluted (in dollars per share) | 17,415,680 | 18,287,064 |
Deposit Account [Member] | ||
NON-INTEREST INCOME | ||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 256 | $ 338 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | ||
Net income | $ 6,340 | $ 1,104 |
Other comprehensive income (loss): | ||
Unrealized gains (loss) on investment securities-available for sale | (8,157) | 731 |
Tax effect | 1,876 | (169) |
Total | (6,281) | 562 |
Total comprehensive income | $ 59 | $ 1,666 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands | 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, 2019 | $ 18,330 | $ 140,870 | $ 52,675 | $ 2,815 | $ (2,815) | $ 900 | $ 212,775 |
Balance (in shares) at Dec. 31, 2019 | 18,330,058 | ||||||
Increase (Decrease) in Stockholders' Equity | |||||||
Net income | 1,104 | 1,104 | |||||
Other comprehensive income (loss) | 562 | 562 | |||||
Stock repurchases | $ (275) | (2,193) | (2,468) | ||||
Stock repurchases (in shares) | (275,366) | ||||||
Stock option exercises | $ 1 | 6 | 7 | ||||
Stock option exercises (in shares) | 1,000 | ||||||
Directors' equity incentive plan, net | (24) | 24 | |||||
Stock-based compensation | 105 | 105 | |||||
Balance at Mar. 31, 2020 | $ 18,056 | 138,788 | 53,779 | 2,791 | (2,791) | 1,462 | 212,085 |
Balance (in shares) at Mar. 31, 2020 | 18,055,692 | ||||||
Balance at Dec. 31, 2020 | $ 17,507 | 135,058 | 60,838 | 2,416 | (2,416) | 1,965 | 215,368 |
Balance (in shares) at Dec. 31, 2020 | 17,507,103 | ||||||
Increase (Decrease) in Stockholders' Equity | |||||||
Net income | 6,340 | 6,340 | |||||
Other comprehensive income (loss) | (6,281) | (6,281) | |||||
Stock repurchases | $ (287) | (2,907) | (3,194) | ||||
Stock repurchases (in shares) | (286,799) | ||||||
Stock option exercises | $ 7 | 57 | 64 | ||||
Stock option exercises (in shares) | 6,800 | ||||||
Directors' equity incentive plan, net | 33 | (33) | |||||
Stock-based compensation | 192 | 192 | |||||
Balance at Mar. 31, 2021 | $ 17,227 | $ 132,400 | $ 67,178 | $ 2,449 | $ (2,449) | $ (4,316) | $ 212,489 |
Balance (in shares) at Mar. 31, 2021 | 17,227,104 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 6,340 | $ 1,104 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
Provision for (recovery of) loan losses | (777) | 2,273 |
Depreciation and amortization of premises and equipment | 365 | 422 |
Amortization and accretion of investment securities | 190 | 171 |
Amortization of right of use lease asset | 200 | 308 |
Accretion of deferred loan fees and costs | (1,386) | (243) |
Amortization of core deposit intangible | 150 | 179 |
Accretion of acquisition premium on time deposits | (70) | (7) |
Stock-based compensation | 192 | 105 |
Accretion on acquired loans | (379) | (105) |
Proceeds from loans held for sale | 16,389 | 10,865 |
Originations of loans held for sale | (17,793) | (11,250) |
Gain on sales of loans held for sale | (485) | (293) |
Net gain on sale and write-downs of foreclosed real estate | (144) | |
Increase in cash surrender value of bank-owned life insurance | (154) | (161) |
Change in assets and liabilities: | ||
Net change in accrued interest receivable | 119 | 350 |
Net change in other assets | (1,188) | (346) |
Net change in accrued expenses and other liabilities | 8,507 | (561) |
NET CASH PROVIDED BY OPERATING ACTIVITIES | 10,076 | 2,811 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Redemption (purchase) of FHLB stock | 285 | (14) |
Redemption of non-marketable security | 54 | 1 |
Purchase of investment securities available for sale | (31,267) | |
Maturities of investment securities available for sale | 2,596 | 3,500 |
Mortgage-backed securities pay-downs | 6,169 | 4,688 |
Net change in loans outstanding | (36,837) | (9,406) |
Proceeds from sale of foreclosed real estate | 874 | |
Purchases of premises and equipment | (499) | |
NET CASH USED IN INVESTING ACTIVITIES | (58,126) | (1,730) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net change in deposits | 96,890 | (10,180) |
Repayments of lease liability | (164) | (270) |
Repurchase of common stock | (3,194) | (2,468) |
Proceeds from stock options exercised | 64 | 7 |
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES | 93,596 | (12,911) |
NET CHANGE IN CASH AND CASH EQUIVALENTS | 45,546 | (11,830) |
CASH AND CASH EQUIVALENTS, BEGINNING | 116,087 | 79,077 |
CASH AND CASH EQUIVALENTS, ENDING | 161,633 | 67,247 |
Cash paid during the period for: | ||
Interest paid | 2,089 | 2,760 |
Non-cash transactions: | ||
Change in fair value of investment securities available for sale, net of tax | (6,281) | 562 |
Transfers from loans to foreclosed real estate | $ 526 | $ 204 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 3 Months Ended |
Mar. 31, 2021 | |
BASIS OF PRESENTATION | |
BASIS OF PRESENTATION | NOTE A - BASIS OF PRESENTATION Select Bancorp, Inc. (the “Company”) is a bank holding company whose principal business activity consists of ownership of Select Bank & Trust Company (referred to as the “Bank”). 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. On July 25, 2014, the Company changed its name from New Century Bancorp, Inc. to Select Bancorp, Inc. following its acquisition by merger of Select Bancorp, Inc., Greenville, North Carolina (which we refer to herein as “Legacy Select”). The Company is subject to the rules and regulations of the Board of Governors of the Federal Reserve System 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. (“Premara”) and its subsidiary Carolina Premier Bank (“Carolina Premier”) 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, North Carolina. The Bank is engaged in general commercial and retail banking in the State of North Carolina, northwest South Carolina, and the Virginia Beach-Norfolk-Newport News, VA-NC, metropolitan statistical area. The Bank is subject to the supervision and regulation of the Federal Deposit Insurance Corporation and the North Carolina Commissioner of Banks. All significant inter-company transactions and balances have been eliminated in consolidation. In management’s opinion, the financial information, which is unaudited, reflects all adjustments (consisting solely of normal recurring adjustments) necessary for a fair presentation of the financial information as of and for the three months ended March 31, 2021 and 2020, in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The preparation of consolidated financial statements requires management to make estimates and assumptions that affect reported amounts of assets and liabilities at the date of the financial statements, as well as the amounts of income and expense during the reporting period. Actual results could differ from those estimates. Operating results for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2021. The organization and business of the Company, accounting policies followed by the Company and other relevant information are contained in the notes to the financial statements filed as part of the Company’s 2020 Annual Report on Form 10-K, filed with the Securities and Exchange Commission (“SEC”) on March 11, 2021. This quarterly report should be read in conjunction with the Annual Report. Certain reclassifications of the information in prior periods were made to conform to the March 31, 2021 presentation. Such reclassifications had no effect on shareholders’ equity or net income as previously reported. COVID-19 |
PER SHARE RESULTS
PER SHARE RESULTS | 3 Months Ended |
Mar. 31, 2021 | |
PER SHARE RESULTS | |
PER SHARE RESULTS | NOTE B - PER SHARE RESULTS Basic net income per share is computed based upon the weighted average number of shares of common stock outstanding during the period. Diluted net income per share includes the dilutive effect of stock options outstanding during the period. At March 31, 2021 and 2020 there were 235,620 and 219,120 anti-dilutive stock options outstanding, respectively. Three Months Ended March 31, 2021 2020 Weighted average number of common shares used in computing basic net income per share 17,386,715 18,255,351 Effect of dilutive stock options 28,965 31,713 Weighted average number of common shares and dilutive potential common shares used in computing diluted net income per share 17,415,680 18,287,064 |
RECENT ACCOUNTING PRONOUNCEMENT
RECENT ACCOUNTING PRONOUNCEMENTS | 3 Months Ended |
Mar. 31, 2021 | |
RECENT ACCOUNTING PRONOUNCEMENTS | |
RECENT ACCOUNTING PRONOUNCEMENTS | NOTE C - RECENT ACCOUNTING PRONOUNCEMENTS The following summarizes recent accounting pronouncements and their expected impact on the Company: In June 2016, the FASB issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, In March 2020, the FASB issued ASU 2020-04 - Reference Rate Reform (Topic 848) 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. |
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS | 3 Months Ended |
Mar. 31, 2021 | |
FAIR VALUE MEASUREMENTS | |
FAIR VALUE MEASUREMENTS | NOTE D - FAIR VALUE MEASUREMENTS Accounting Standards Codification (“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. 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 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 flow 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, mortgage-backed securities issued by government sponsored entities, and municipal bonds. There have been no changes in valuation techniques for the three months ended March 31, 2021. Valuation techniques are consistent with techniques 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 March 31, 2021 and December 31, 2020 (in thousands): Quoted Prices in Significant Investment securities Active Markets Other Significant available for sale for Identical Observable Unobservable March 31, 2021 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) U.S. government agencies – GSE’s $ 50,801 $ — $ 50,801 $ — Mortgage-backed securities – GSE’s 66,582 — 66,582 — Corporate Bonds 2,250 — 2,250 — Municipal bonds 89,015 — 89,015 — Total investment available for sale $ 208,648 $ — $ 208,648 $ — Quoted Prices in Significant Investment securities Active Markets Other Significant available for sale for Identical Observable Unobservable December 31, 2020 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) U.S. government agencies – GSE’s $ 50,232 $ — $ 50,232 $ — Mortgage-backed securities – GSE’s 48,931 — 48,931 — Corporate Bonds 2,350 — 2,350 — Municipal bonds 92,979 — 92,979 — Total investment available for sale $ 194,492 $ — $ 194,492 $ — The following is a description of valuation methodologies used for assets recorded at fair value on a non-recurring basis. Impaired 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 March 31, 2021 and December 31, 2020, 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 non-recurring 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 non-recurring Level 3. The significant unobservable input used in the fair value measurement of the Company’s impaired loans is the discount applied to appraised values to account for expected liquidation and selling costs. At March 31, 2021, the discounts used are weighted between 3% and 20%. There were no transfers between levels from the prior reporting periods, and there have been no changes in valuation techniques for the three months ended March 31, 2021. Foreclosed Real Estate Foreclosed real estate are properties recorded at the balance of the loan or an estimated fair value of the real estate collateral 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. Therefore, foreclosed real estate is classified within Level 3 of the hierarchy. The significant unobservable input used in the fair value measurement of the Company’s foreclosed real estate is the discount applied to appraised values to account for expected liquidation and selling costs. At March 31, 2021, the discounts used ranged between 6% and 10%. There have been no changes in valuation techniques for the three months ended March 31, 2021. Loans held for sale The Company originates fixed and variable rate residential mortgage loans on a service-release basis in the secondary market. Loans closed but not yet settled with an investor are carried in our loans held for sale portfolio. Virtually all of these loans have commitments to be purchased by investors and the majority of these loans were locked in by price with the investors on the same day or shortly thereafter that the loan was locked in with our customers. Therefore, these loans present very little market risk. The Company usually delivers to, and receives funding from, the investor within 30 to 60 days. Commitments to sell these loans to the investor are considered derivative contracts and are sold to investors on a “best efforts” basis. The Company is not obligated to deliver a loan or pay a penalty if a loan is not delivered to the investor. Because of the short-term nature of these derivative contracts, the fair value of the mortgage loans held for sale in most cases is materially the same as the value of the loan amount at its origination . Mortgage loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated market value in the aggregate. Net unrealized losses are provided for in a valuation allowance by charges to operations as a component of mortgage banking income. Gains or losses on sales of loans are recognized when control over these assets is surrendered and such gains or losses are included in mortgage banking income in the consolidated statements of income. The following tables summarize quantitative disclosures about the fair value measurement for each category of assets carried at fair value on a non-recurring basis as of March 31, 2021 and December 31, 2020 (in thousands): Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Asset Category - March 31, 2021 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Impaired loans $ 6,095 $ — $ — $ 6,095 Foreclosed real estate 1,968 — — 1,968 Total $ 8,063 $ — $ — $ 8,063 Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Asset Category - December 31, 2020 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Impaired loans $ 6,790 $ — $ — $ 6,790 Foreclosed real estate 2,172 — — 2,172 Total $ 8,962 $ — $ — $ 8,962 The following table presents the carrying values and estimated fair values of the Company’s financial instruments at March 31, 2021 and December 31, 2020: March 31, 2021 Carrying Estimated Amount Fair Value Level 1 Level 2 Level 3 (dollars in thousands) Financial assets: Cash and due from banks $ 22,533 $ 22,533 $ 22,533 $ — $ — Certificates of deposit 250 250 250 — — Interest-earning deposits in other banks 133,884 133,884 133,884 — — Federal funds sold 4,966 4,966 4,966 — — Investment securities available for sale 208,648 208,648 — 208,648 — Loans held for sale 3,953 3,953 — 3,953 — Loans, net 1,329,129 1,332,310 — — 1,332,310 Accrued interest receivable 4,991 4,991 — 4,991 — Stock in the FHLB 862 862 — — 862 Other non-marketable securities 655 655 — — 655 Financial liabilities: Deposits $ 1,582,637 $ 1,584,959 $ — $ — $ 1,584,959 Long-term debt 12,372 10,801 — 10,801 — Accrued interest payable 206 206 — 206 — December 31, 2020 Carrying Estimated Amount Fair Value Level 1 Level 2 Level 3 (dollars in thousands) Financial assets: Cash and due from banks $ 23,324 $ 23,324 $ 23,324 $ — $ — Interest-earning deposits in other banks 87,399 87,399 87,399 — — Federal funds sold 5,364 5,364 5,364 — — Investment securities available for sale 194,492 194,492 — 194,492 — Loans held for sale 2,064 2,064 — 2,064 — Loans, net 1,290,276 1,294,552 — — 1,294,552 Accrued interest receivable 5,110 5,110 — 5,110 — Stock in the FHLB 1,147 1,147 — — 1,147 Other non-marketable securities 709 709 — — 709 Financial liabilities: Deposits $ 1,485,817 $ 1,489,220 $ — $ — $ 1,489,220 Long-term debt 12,372 9,965 — 9,965 — Accrued interest payable 246 246 — 246 — |
INVESTMENT SECURITIES
INVESTMENT SECURITIES | 3 Months Ended |
Mar. 31, 2021 | |
INVESTMENT SECURITIES | |
INVESTMENT SECURITIES | NOTE E - INVESTMENT SECURITIES The amortized cost and fair value of available for sale (“AFS”) investments, with gross unrealized gains and losses as of March 31, 2021, follow: March 31, 2021 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (dollars in thousands) Securities available for sale: U.S. government agencies – GSE’s $ 53,387 $ 215 $ (2,801) $ 50,801 Mortgage-backed securities – GSE’s 67,058 1,076 (1,552) 66,582 Corporate bonds 2,247 3 — 2,250 Municipal bonds 91,561 372 (2,918) 89,015 Total $ 214,253 $ 1,666 $ (7,271) $ 208,648 As of March 31, 2021, accumulated other comprehensive income included net unrealized losses totaling $5.6 million. Deferred tax assets resulting from these net unrealized losses totaled $1.3 million. The amortized cost and fair value of “AFS” investments, with gross unrealized gains and losses as of December 31, 2020, follow: December 31, 2020 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (dollars in thousands) Securities available for sale: U.S. government agencies – GSE’s $ 50,304 $ 270 $ (342) $ 50,232 Mortgage-backed securities – GSE’s 47,658 1,320 (47) 48,931 Corporate bonds 2,343 7 — 2,350 Municipal bonds 91,635 1,417 (73) 92,979 Total $ 191,940 $ 3,014 $ (462) $ 194,492 As of December 31, 2020, accumulated other comprehensive income included net unrealized gains totaling $2.6 million. Deferred tax liabilities resulting from these net unrealized gains totaled $587,000. The amortized cost and fair value of securities available for sale, with gross unrealized gains and losses, follow: March 31, 2021 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (dollars in thousands) Securities available for sale: Due within one year $ 528 $ 12 $ — $ 540 Due after one but within five years 21,555 971 (52) 22,474 Due after five but within ten years 36,843 101 (1,520) 35,424 Due after ten years 155,327 582 (5,699) 150,210 $ 214,253 $ 1,666 $ (7,271) $ 208,648 December 31, 2020 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (dollars in thousands) Securities available for sale: Due within one year $ 3,153 $ 13 $ (1) $ 3,165 Due after one but within five years 24,515 1,140 (2) 25,653 Due after five but within ten years 22,615 99 (91) 22,623 Due after ten years 141,657 1,762 (368) 143,051 $ 191,940 $ 3,014 $ (462) $ 194,492 Securities with a carrying value of $81.3 million and $68.4 million at March 31, 2021 and December 31, 2020, respectively, were pledged to secure public monies on deposit as required by law, customer repurchase agreements, and access to the Federal Reserve Discount Window. None of the unrealized losses relate to the liquidity of the securities or the issuer’s ability to honor redemption obligations. 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 March 31, 2021 and December 31, 2020. The Company has not incurred any losses related to securities sales in the first three months of 2021 or during the year ended December 31, 2020. The following tables show the gross unrealized losses and fair value of the Company’s investment securities, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, at March 31, 2021 and December 31, 2020. March 31, 2021 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 $ 43,701 $ (2,800) $ 217 $ (1) $ 43,918 $ (2,801) Mortgage-backed securities–GSE’s 38,761 (1,552) — — 38,761 (1,552) Corporate bonds — — — — — — Municipal bonds 71,241 (2,918) — — 71,241 (2,918) Total temporarily impaired securities $ 153,703 $ (7,270) $ 217 $ (1) $ 153,920 $ (7,271) At March 31, 2021, the Company had one security with an unrealized loss for more than twelve months of $1,000 which consisted of one U.S. government agency-GSE bond. Eighty-six securities had unrealized losses for less than twelve months totaling $7.3 million at March 31, 2021, which consisted of fifty-seven municipal bonds, thirteen U.S. government agencies - GSEs and sixteen mortgage-backed - GSE bonds. All unrealized losses are attributable to the general trend of interest rates. December 31, 2020 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 $ 42,159 $ (340) $ 420 $ (2) $ 42,579 $ (342) Mortgage-backed securities–GSE’s 19,297 (46) 1,999 (1) 21,296 (47) Corporate bonds — — — — — — Municipal bonds 10,105 (73) — — 10,105 (73) Total temporarily impaired securities $ 71,561 $ (459) $ 2,419 $ (3) $ 73,980 $ (462) At December 31, 2020, the Company had one mortgage-backed GSE and two U.S Government agency – GSE’s with an unrealized loss for twelve or more consecutive months totaling $3,000. The Company had thirty securities with a loss for twelve months or less at December 31, 2020. Eleven U.S. government agency GSE’s, twelve municipal bonds and seven mortgage-backed GSE’s had unrealized losses for less than twelve months totaling $459,000 at December 31, 2020. All unrealized losses are attributable to the general trend of interest rates. |
LOANS
LOANS | 3 Months Ended |
Mar. 31, 2021 | |
LOANS | |
LOANS | NOTE F - LOANS Following is a summary of the composition of the Company’s loan portfolio at March 31, 2021 and December 31, 2020: March 31, December 31, 2021 2020 Percent Percent Amount of total Amount of total (dollars in thousands) Real estate loans: 1-to-4 family residential $ 185,652 13.83 % $ 194,031 14.88 % Commercial real estate 695,702 51.83 % 608,482 46.65 % Multi-family residential 86,159 6.42 % 82,508 6.32 % Construction 203,212 15.14 % 236,735 18.15 % Home equity lines of credit (“HELOC”) 56,247 4.19 % 53,806 4.12 % Total real estate loans 1,226,972 91.41 % 1,175,562 90.12 % Other loans: Commercial and industrial 116,104 8.65 % 125,700 9.64 % Loans to individuals 4,478 0.33 % 6,629 0.04 % Overdrafts 51 — % 493 0.51 % Total other loans 120,633 8.98 % 132,822 10.19 % Gross loans 1,347,605 1,308,384 Less deferred loan origination fees, net (5,289) (.39) % (4,000) (.31) % Total loans 1,342,316 100.00 % 1,304,384 100.00 % Allowance for loan losses (13,187) (14,108) Total loans, net $ 1,329,129 $ 1,290,276 For PCI loans acquired from Legacy Select, Premara and First Citizens, the contractually required payments including principal and interest, cash flows expected to be collected and fair values as of the closing date of the acquisition and March 31, 2021 and December 31, 2020 were: March 31, 2021 December 31, 2020 Contractually required payments $ 34,430 $ 37,241 Nonaccretable difference 3,593 3,586 Cash flows expected to be collected 30,837 33,655 Accretable yield 5,222 4,622 Carrying value $ 25,615 $ 29,033 Loans are primarily secured by real estate located in the State of North Carolina, southeastern Virginia and northwestern South Carolina. Real estate loans can be affected by the condition of the local real estate market and by local economic conditions. At March 31, 2021, the Company had pre-approved but unused lines of credit for customers totaling $364.3 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. The Bank originated 1,249 loans amounting to $97.0 million during 2020 under the Paycheck Protection Program (“PPP”) which are classified as commercial and industrial loans in the loan portfolio. During 2020 some of the PPP loans were forgiven and as of December 31, 2020 the Bank had $55.5 million outstanding. In the first quarter of 2021 an additional 441 PPP loans were originated amounting to $35.6 million. A total of $39.9 million of PPP loans were forgiven in the first quarter of 2021. As of March 31, 2021 the Bank has 653 PPP loans outstanding amounting to $51.2 million. The PPP loan program is sponsored by the U.S. Small Business Administration (the “SBA”) primarily to facilitate the continuation of paychecks to employees of businesses impacted by the COVID-19 pandemic. These loans are guaranteed by the SBA and can be forgiven and paid off by the SBA if all conditions of the program are met. Loans that do not meet the conditions of the PPP loan program could result in the Bank incurring a charge-off. The extent of this potential loss to the Bank is not known since the conditions of the program have changed and are subject to future changes. During the last twelve months the Bank granted 419 COVID-19 deferrals amounting to $219.6 million. At March 31, 2021 the Bank had 18 loans under COVID-19 deferrals amounting to $16.8 million which are set to expire within the next 90 days. A floating lien of $87.9 million of loans was pledged to the FHLB to secure borrowings at March 31, 2021. The following tables present an age analysis of past due loans, segregated by class of loans as of March 31, 2021 and December 31, 2020, respectively: March 31, 2021 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) Commercial and industrial $ 98 $ 2 $ 976 $ 3,144 $ 4,220 $ 111,884 $ 116,104 Construction 174 — — 492 666 202,546 203,212 Multi-family residential 34 — — — 34 86,125 86,159 Commercial real estate 68 — — 1,477 1,545 694,157 695,702 Loans to individuals & overdrafts 11 — — 145 156 4,373 4,529 1‑to‑4 family residential 1,298 49 697 746 2,790 182,862 185,652 HELOC 42 — — 91 133 56,114 56,247 Deferred loan (fees) cost, net — — — — — — (5,289) $ 1,725 $ 51 $ 1,673 $ 6,095 $ 9,544 $ 1,338,061 $ 1,342,316 December 31, 2020 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) Commercial and industrial $ 11 $ 1,003 $ 2 $ 3,601 $ 4,617 $ 121,083 $ 125,700 Construction 8 — — 154 162 236,573 236,735 Multi-family residential — 1,533 — — 1,533 80,975 82,508 Commercial real estate 1,880 — 9 2,008 3,897 604,585 608,482 Loans to individuals & overdrafts 10 — — 145 155 6,967 7,122 1‑to‑4 family residential 700 — 760 655 2,115 191,916 194,031 HELOC 67 — 31 227 325 53,481 53,806 Deferred loan (fees) cost, net — — — — — — (4,000) $ 2,676 $ 2,536 $ 802 $ 6,790 $ 12,804 $ 1,295,580 $ 1,304,384 Impaired Loans The following tables present information on loans that were considered to be impaired as of March 31, 2021 and December 31, 2020: As of March 31, 2021 Three Months Ended Contractual March 31, 2021 Unpaid Related Average Interest Income Recorded Principal Allowance Recorded Recognized on Investment Balance for Loan Losses Investment Impaired Loans (dollars in thousands) 2021 : With no related allowance recorded: Commercial and industrial $ 2,164 $ 2,164 $ — $ 2,375 $ 12 Construction 590 659 — 421 4 Commercial real estate 4,611 4,611 — 4,646 57 Loans to individuals & overdrafts 196 196 — 197 — Multi-family residential — — — — — HELOC 370 370 — 376 7 1‑to‑4 family residential 305 305 — 247 4 Subtotal: 8,236 8,305 — 8,262 84 With an allowance recorded: Commercial and industrial 1,684 1,884 876 1,485 7 Construction — — — — — Commercial real estate 349 349 237 348 3 Loans to individuals & overdrafts — — — — — Multi-family Residential — — — — — HELOC 65 65 3 65 1 1‑to‑4 family residential 13 13 9 14 — Subtotal: 2,111 2,311 1,125 1,912 11 Totals: Commercial 9,398 9,667 1,113 9,275 83 Consumer 196 196 — 197 — Residential 753 753 12 702 12 Grand Total: $ 10,347 $ 10,616 $ 1,125 $ 10,174 $ 95 Impaired loans at March 31, 2021 were approximately $10.3 million and were composed of $6.1 million in non-accrual loans and $4.2 As of December 31, 2020 Three Months Ended Contractual March 31, 2020 Unpaid Related Average Interest Income Recorded Principal Allowance Recorded Recognized on Investment Balance for Loan Losses Investment Impaired Loans (dollars in thousands) 2020 : With no related allowance recorded: Commercial and industrial $ 2,231 $ 2,525 $ — $ 3,684 $ 44 Construction 252 440 — 438 5 Commercial real estate 5,090 5,426 — 5,504 65 Loans to individuals & overdrafts 250 287 — 99 — Multi-family residential — — — 269 11 HELOC 383 478 — 734 12 1‑to‑4 family residential 206 259 — 1,735 12 Subtotal: 8,412 9,415 — 12,463 149 With an allowance recorded: Commercial and industrial 1,641 1,918 419 1,037 — Construction — — — 70 — Commercial real estate 415 415 323 — — Loans to individuals & overdrafts — — — — — Multi-family Residential — — — — — HELOC 82 83 7 — — 1‑to‑4 family residential 14 16 9 71 10 Subtotal: 2,152 2,432 758 1,178 10 Totals: Commercial 9,629 10,724 742 10,832 114 Consumer 250 287 — 269 11 Residential 685 836 16 2,540 34 Grand Total: $ 10,564 $ 11,847 $ 758 $ 13,641 $ 159 Impaired loans at December 31, 2020 were approximately $10.6 million and included $6.8 million in non-accrual loans and $3.8 million in loans still in accruing status. Recorded investment represents the current principal balance for the loan. Approximately $2.2 million of the $10.6 million in impaired loans at December 31, 2020 had specific allowances aggregating $758,000 while the remaining $8.4 million had no specific allowances recorded. Of the $8.4 million with no allowance recorded, partial charge-offs through December 31, 2020 amounted to $81,000. Loans are placed on non-accrual status 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. In the case of an impaired loan that is still on accrual basis, payments are applied to both principal and interest. Troubled Debt Restructurings The following table presents loans that were modified as troubled debt restructurings (“TDRs”) with a breakdown of the types of concessions made by loan class during the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Pre-Modification Post-Modification Pre-Modification Post-Modification Number Outstanding Outstanding Number Outstanding Outstanding of Recorded Recorded of Recorded Recorded loans Investments Investments loans Investments Investments (dollars in thousands) (dollars in thousands) Extended payment terms: 1-to-4 family residential 2 $ 339 $ 325 6 $ 797 $ 537 Commercial real estate — — — — — — Construction — — — 1 157 13 HELOC — — — 2 240 232 Commercial & industrial 2 146 139 4 1,091 1,083 Loans to individuals — — — 1 14 9 Total 4 $ 485 $ 464 14 $ 2,299 $ 1,874 The following table presents loans that were modified as TDRs within the past twelve months with a breakdown of the types for which there was a payment default during that period together with concessions made by loan class during the twelve month periods ended March 31, 2021 and 2020: Twelve months ended Twelve months ended March 31, 2021 March 31, 2020 Number Recorded Number Recorded of loans investment of loans investment (dollars in thousands) (dollars in thousands) Extended payment terms: Commercial and industrial 5 $ 1,318 3 $ 2,209 Construction 1 111 — — 1-to-4 family residential 3 178 — — Total 9 $ 1,607 3 $ 2,209 At March 31, 2021, the Bank had thirty-four loans with an aggregate balance of $5.9 million that were considered to be troubled debt restructurings. Of those TDRs, eleven loans with a balance totaling $2.2 million were still accruing as of March 31, 2021. The remaining TDRs with balances totaling $3.7 million as of March 31, 2021 were in non-accrual status. The following tables present information on risk ratings of the commercial and consumer loan portfolios, segregated by loan class as of March 31, 2021 and December 31, 2020, respectively: Total loans: March 31, 2021 Commercial Credit Exposure By Commercial Commercial Internally and real Multi-family Assigned Grade industrial Construction estate residential (dollars in thousands) Superior $ 51,826 $ — $ 640 $ — Very good 959 335 3,650 — Good 4,214 1,222 97,675 2,345 Acceptable 14,149 14,316 334,468 46,259 Acceptable with care 39,415 186,590 249,712 37,555 Special mention 1,524 257 5,833 — Substandard 4,017 492 3,724 — Doubtful — — — — Loss — — — — $ 116,104 $ 203,212 $ 695,702 $ 86,159 Consumer Credit Exposure By Internally 1 ‑ to ‑ 4 family Assigned Grade residential HELOC Pass $ 183,044 $ 55,372 Special mention 780 223 Substandard 1,828 652 $ 185,652 $ 56,247 Consumer Credit Exposure Based Loans to On Payment individuals & Activity overdrafts Pass $ 4,318 Special mention 211 $ 4,529 Total Loans: December 31, 2020 Commercial Credit Exposure By Commercial Commercial Internally and real Multi-family Assigned Grade industrial Construction estate residential (dollars in thousands) Superior $ 56,510 $ — $ 123 $ — Very good 508 70 8,129 — Good 4,693 1,770 80,401 2,086 Acceptable 17,226 18,084 308,200 46,820 Acceptable with care 40,946 216,418 203,008 32,068 Special mention 1,313 239 4,344 1,534 Substandard 4,504 154 4,277 — Doubtful — — — — Loss — — — — $ 125,700 $ 236,735 $ 608,482 $ 82,508 Consumer Credit Exposure By Internally 1 ‑ to ‑ 4 family Assigned Grade residential HELOC Pass $ 190,975 $ 52,756 Special mention 633 226 Substandard 2,423 824 $ 194,031 $ 53,806 Consumer Credit Exposure Based Loans to On Payment individuals & Activity overdrafts Pass $ 6,845 Special mention 277 $ 7,122 Determining the fair value of PCI loans at acquisition required the Company to estimate cash flows expected to result from those loans and to discount those cash flows at appropriate rates of interest. For such loans, the excess of cash flows expected to be collected at acquisition over the estimated fair value is recognized as interest income over the remaining lives of the loans and is called the accretable yield. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition reflects the impact of estimated credit losses and is called the nonaccretable difference. In accordance with GAAP, there was no carry-over of previously established allowance for credit losses from the acquired company. The following table documents changes to the amount of the accretable yield on PCI loans for the last three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 2020 (dollars in thousands) Accretable yield, beginning of period $ 4,622 $ 3,191 Additions — — Accretion (399) (280) Reclassification from nonaccretable difference 263 32 Other changes, net 736 43 Accretable yield, end of period $ 5,222 $ 2,986 The following tables present a roll forward of the Company’s allowance for loan losses by loan class for the three-month periods ended March 31, 2021 and March 31, 2020, respectively (dollars in thousands): Three Months Ended March 31, 2021 Commercial 1 to 4 Loans to Multi- and Commercial family individuals & family 2021 industrial Construction real estate residential HELOC overdrafts residential Total Allowance for loan losses Loans – excluding PCI Balance, beginning of period 1/01/2021 $ 3,302 $ 2,334 $ 5,472 $ 1,365 $ 371 $ 109 $ 820 $ 13,773 Provision for (recovery of) loan losses 286 (630) (705) (334) (45) (55) 474 (1,009) Loans charged-off (197) — — (8) — (10) — (215) Recoveries 27 — 25 5 2 12 — 71 Balance, end of period 3/31/2021 $ 3,418 $ 1,704 $ 4,792 $ 1,028 $ 328 $ 56 $ 1,294 $ 12,620 PCI Loans Balance, beginning of period 1/01/2021 $ 203 $ 31 $ 4 $ 85 $ 1 $ — $ 11 $ 335 Provision for (recovery of) loan losses — 7 — 226 — — (1) 232 Loans charged-off — — — — — — — — Recoveries — — — — — — — — Balance, end of period 3/31/2021 $ 203 $ 38 $ 4 $ 311 $ 1 $ — $ 10 $ 567 Total Loans Balance, beginning of period 1/01/2021 $ 3,505 $ 2,365 $ 5,476 $ 1,450 $ 372 $ 109 $ 831 $ 14,108 Provision for (recovery of) loan losses 286 (623) (705) (108) (45) (55) 473 (777) Loans charged-off (197) — — (8) — (10) — (215) Recoveries 27 — 25 5 2 12 — 71 Balance, end of period 3/31/2021 $ 3,621 $ 1,742 $ 4,796 $ 1,339 $ 329 $ 56 $ 1,304 $ 13,187 Ending Balance: individually evaluated for impairment $ 876 $ — $ 237 $ 9 $ 3 $ — $ — $ 1,125 Ending Balance: collectively evaluated for impairment $ 2,745 $ 1,742 $ 4,559 $ 1,330 $ 326 $ 56 $ 1,304 $ 12,062 Loans: Ending Balance: collectively evaluated for impairment non PCI loans $ 110,730 $ 201,736 $ 679,087 $ 175,495 $ 55,190 $ 4,265 $ 85,140 $ 1,311,643 Ending Balance: collectively evaluated for impairment PCI loans $ 1,526 $ 886 $ 11,655 $ 9,839 $ 622 $ 68 $ 1,019 $ 25,615 Ending Balance: individually evaluated for impairment $ 3,848 $ 590 $ 4,960 $ 318 $ 435 $ 196 $ — $ 10,347 Ending Balance $ 116,104 $ 203,212 $ 695,702 $ 185,652 $ 56,247 $ 4,529 $ 86,159 $ 1,347,605 Three Months Ended March 31, 2020 Commercial 1 to 4 Loans to Multi- and Commercial family individuals & family 2020 industrial Construction real estate residential HELOC overdrafts residential Total Allowance for loan losses Loans – excluding PCI Balance, beginning of period 12/01/2019 $ 1,127 $ 1,731 $ 2,837 $ 1,437 $ 329 $ 175 $ 419 $ 8,055 Provision for (recovery of) loan losses 717 394 720 267 69 (20) 127 2,274 Loans charged-off (11) — — — — (16) — (27) Recoveries 1 — 1 10 — 4 — 16 Balance, end of period 3/31/2020 $ 1,834 $ 2,125 $ 3,558 $ 1,714 $ 398 $ 143 $ 546 $ 10,318 PCI Loans Balance, beginning of period 12/01/2019 $ 178 $ 6 $ 14 $ 56 $ — $ — $ 15 $ 269 Provision for (recovery of) loan losses 21 1 — (13) — — (10) (1) Loans charged-off — — — — — — — — Recoveries — — — — — — — — Balance, end of period 3/31/2020 $ 199 $ 7 $ 14 $ 43 $ — $ — $ 5 $ 268 Total Loans Balance, beginning of period 12/01/2019 $ 1,305 $ 1,737 $ 2,851 $ 1,493 $ 329 $ 175 $ 434 $ 8,324 Provision for (recovery of) loan losses 738 395 720 254 69 (20) 117 2,273 Loans charged-off (11) — — — — (16) — (27) Recoveries 1 — 1 10 — 4 — 16 Balance, end of period 3/31/2020 $ 2,033 $ 2,132 $ 3,572 $ 1,757 $ 398 $ 143 $ 551 $ 10,586 Ending Balance: individually evaluated for impairment $ 601 $ — $ 96 $ 5 $ — $ — $ — $ 702 Ending Balance: collectively evaluated for impairment $ 1,432 $ 2,132 $ 3,476 $ 1,752 $ 398 $ 143 $ 551 $ 9,884 Loans: Ending Balance: collectively evaluated for impairment non PCI loans $ 67,312 $ 227,538 $ 453,592 $ 147,444 $ 43,017 $ 7,754 $ 69,845 $ 1,016,502 Ending Balance: collectively evaluated for impairment PCI loans $ 1,099 $ 672 $ 5,669 $ 6,048 $ 49 $ — $ 886 $ 14,423 Ending Balance: individually evaluated for impairment $ 3,816 $ 436 $ 5,065 $ 431 $ 750 $ 255 $ — $ 10,753 Ending Balance $ 72,227 $ 228,646 $ 464,326 $ 153,923 $ 43,816 $ 8,009 $ 70,731 $ 1,041,678 |
LOANS HELD FOR SALE
LOANS HELD FOR SALE | 3 Months Ended |
Mar. 31, 2021 | |
LOANS HELD FOR SALE | |
LOANS HELD FOR SALE | NOTE G – LOANS HELD FOR SALE The Company originates fixed and variable rate residential mortgage loans on a service-release basis in the secondary market. Loans closed but not yet settled with an investor are carried in loans held for sale portfolio. Virtually all of these loans have commitments to be purchased by investors and the majority of these loans were locked in by price with the investors on the same day or shortly thereafter that the loan was locked in with customers. Therefore, these loans present very little market risk. The Company usually delivers to, and receives funding from, the investor within 30 to 60 days. Commitments to sell these loans to the investor are considered derivative contracts and are sold to investors on a “best efforts” basis. The Company is not obligated to deliver a loan or pay a penalty if a loan is not delivered to the investor. Because of the short-term nature of these derivative contracts, the fair value of the mortgage loans held for sale in most cases is materially the same as the value of the loan amount at its origination . Mortgage loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated market value in the aggregate. Net unrealized losses are provided for in a valuation allowance by charges to operations as a component of mortgage banking income. Gains or losses on sales of loans are recognized when control over these assets are surrendered and are included in mortgage banking income in the consolidated statements of operations. |
OTHER REAL ESTATE OWNED
OTHER REAL ESTATE OWNED | 3 Months Ended |
Mar. 31, 2021 | |
OTHER REAL ESTATE OWNED | |
OTHER REAL ESTATE OWNED | NOTE H – OTHER REAL ESTATE OWNED The following table explains changes in other real estate owned, or OREO, during the three months ended March 31, 2021 and 2020: Three Months Three Months Ended Ended March 31, March 31, 2021 2020 (Dollars in thousands) Beginning balance January 1 $ 2,172 $ 3,533 Sales proceeds (874) — Write-downs and (loss) gain on sales 144 — Transfers 526 204 Ending balance $ 1,968 $ 3,737 At March 31, 2021 and 2020, the Company had $2.0 million and $3.7 million, respectively, of foreclosed real estate property in OREO. The Company had one loan with a recorded investment in consumer mortgage loans collateralized by residential real estate property in the process of foreclosure in the aggregate amount of $748,000 at March 31, 2021. At March 31, 2020, the Company had two loans with recorded investment in the amount of $428,000 in consumer mortgage loans collateralized by residential real estate property in the process of foreclosure. |
LEASES
LEASES | 3 Months Ended |
Mar. 31, 2021 | |
LEASES | |
LEASES | NOTE I – 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 March 31, 2021, the Company did not have any leases that had not yet commenced for which we had created a right-of-use 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 and lease liability. The components of lease expense were as follows: Three Months Three Months Ended Ended March 31, March 31, 2021 2020 Operating lease cost 315 308 Supplemental cash flow information related to leases was as follows: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 315 $ 308 Right-of-use assets obtained in exchange for lease obligations: Operating leases 8,358 8,414 The following table presents the remaining weighted average lease terms and discount rates as of March 31, 2020 and 2019 : March 31, 2021 March 31, 2020 Weighted Average Remaining Lease Term Operating Leases 11.6 years 6.7 years Weighted Average Discount Rate Operating Leases 6.0 % 6.0 % Maturities of lease liabilities were as follows: Operating (In thousands) Leases Year Ending December 31, 2021 $ 563 2022 816 2023 796 2024 769 2025 842 Thereafter 5,562 Lease payments 9,348 Amounts representing interest (582) Present Value of Net Future Minimum Lease Payments $ 8,766 |
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS | 3 Months Ended |
Mar. 31, 2021 | |
SUBSEQUENT EVENTS | |
SUBSEQUENT EVENTS | NOTE J – 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. |
PER SHARE RESULTS (Tables)
PER SHARE RESULTS (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
PER SHARE RESULTS | |
Schedule of earnings per share basic and diluted | Basic net income per share is computed based upon the weighted average number of shares of common stock outstanding during the period. Diluted net income per share includes the dilutive effect of stock options outstanding during the period. At March 31, 2021 and 2020 there were 235,620 and 219,120 anti-dilutive stock options outstanding, respectively. Three Months Ended March 31, 2021 2020 Weighted average number of common shares used in computing basic net income per share 17,386,715 18,255,351 Effect of dilutive stock options 28,965 31,713 Weighted average number of common shares and dilutive potential common shares used in computing diluted net income per share 17,415,680 18,287,064 |
FAIR VALUE MEASUREMENTS (Tables
FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
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 March 31, 2021 and December 31, 2020 (in thousands): Quoted Prices in Significant Investment securities Active Markets Other Significant available for sale for Identical Observable Unobservable March 31, 2021 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) U.S. government agencies – GSE’s $ 50,801 $ — $ 50,801 $ — Mortgage-backed securities – GSE’s 66,582 — 66,582 — Corporate Bonds 2,250 — 2,250 — Municipal bonds 89,015 — 89,015 — Total investment available for sale $ 208,648 $ — $ 208,648 $ — Quoted Prices in Significant Investment securities Active Markets Other Significant available for sale for Identical Observable Unobservable December 31, 2020 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) U.S. government agencies – GSE’s $ 50,232 $ — $ 50,232 $ — Mortgage-backed securities – GSE’s 48,931 — 48,931 — Corporate Bonds 2,350 — 2,350 — Municipal bonds 92,979 — 92,979 — Total investment available for sale $ 194,492 $ — $ 194,492 $ — |
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 non-recurring basis as of March 31, 2021 and December 31, 2020 (in thousands): Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Asset Category - March 31, 2021 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Impaired loans $ 6,095 $ — $ — $ 6,095 Foreclosed real estate 1,968 — — 1,968 Total $ 8,063 $ — $ — $ 8,063 Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Asset Category - December 31, 2020 Fair value Assets (Level 1) Inputs (Level 2) Inputs (Level 3) Impaired loans $ 6,790 $ — $ — $ 6,790 Foreclosed real estate 2,172 — — 2,172 Total $ 8,962 $ — $ — $ 8,962 |
Schedule of carrying and fair values | The following table presents the carrying values and estimated fair values of the Company’s financial instruments at March 31, 2021 and December 31, 2020: March 31, 2021 Carrying Estimated Amount Fair Value Level 1 Level 2 Level 3 (dollars in thousands) Financial assets: Cash and due from banks $ 22,533 $ 22,533 $ 22,533 $ — $ — Certificates of deposit 250 250 250 — — Interest-earning deposits in other banks 133,884 133,884 133,884 — — Federal funds sold 4,966 4,966 4,966 — — Investment securities available for sale 208,648 208,648 — 208,648 — Loans held for sale 3,953 3,953 — 3,953 — Loans, net 1,329,129 1,332,310 — — 1,332,310 Accrued interest receivable 4,991 4,991 — 4,991 — Stock in the FHLB 862 862 — — 862 Other non-marketable securities 655 655 — — 655 Financial liabilities: Deposits $ 1,582,637 $ 1,584,959 $ — $ — $ 1,584,959 Long-term debt 12,372 10,801 — 10,801 — Accrued interest payable 206 206 — 206 — December 31, 2020 Carrying Estimated Amount Fair Value Level 1 Level 2 Level 3 (dollars in thousands) Financial assets: Cash and due from banks $ 23,324 $ 23,324 $ 23,324 $ — $ — Interest-earning deposits in other banks 87,399 87,399 87,399 — — Federal funds sold 5,364 5,364 5,364 — — Investment securities available for sale 194,492 194,492 — 194,492 — Loans held for sale 2,064 2,064 — 2,064 — Loans, net 1,290,276 1,294,552 — — 1,294,552 Accrued interest receivable 5,110 5,110 — 5,110 — Stock in the FHLB 1,147 1,147 — — 1,147 Other non-marketable securities 709 709 — — 709 Financial liabilities: Deposits $ 1,485,817 $ 1,489,220 $ — $ — $ 1,489,220 Long-term debt 12,372 9,965 — 9,965 — Accrued interest payable 246 246 — 246 — |
INVESTMENT SECURITIES (Tables)
INVESTMENT SECURITIES (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
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 as of March 31, 2021, follow: March 31, 2021 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (dollars in thousands) Securities available for sale: U.S. government agencies – GSE’s $ 53,387 $ 215 $ (2,801) $ 50,801 Mortgage-backed securities – GSE’s 67,058 1,076 (1,552) 66,582 Corporate bonds 2,247 3 — 2,250 Municipal bonds 91,561 372 (2,918) 89,015 Total $ 214,253 $ 1,666 $ (7,271) $ 208,648 The amortized cost and fair value of “AFS” investments, with gross unrealized gains and losses as of December 31, 2020, follow: December 31, 2020 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (dollars in thousands) Securities available for sale: U.S. government agencies – GSE’s $ 50,304 $ 270 $ (342) $ 50,232 Mortgage-backed securities – GSE’s 47,658 1,320 (47) 48,931 Corporate bonds 2,343 7 — 2,350 Municipal bonds 91,635 1,417 (73) 92,979 Total $ 191,940 $ 3,014 $ (462) $ 194,492 |
Schedule of Investments Classified By Contractual Maturity Date | The amortized cost and fair value of securities available for sale, with gross unrealized gains and losses, follow: March 31, 2021 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (dollars in thousands) Securities available for sale: Due within one year $ 528 $ 12 $ — $ 540 Due after one but within five years 21,555 971 (52) 22,474 Due after five but within ten years 36,843 101 (1,520) 35,424 Due after ten years 155,327 582 (5,699) 150,210 $ 214,253 $ 1,666 $ (7,271) $ 208,648 December 31, 2020 Gross Gross Amortized unrealized unrealized Fair cost gains losses value (dollars in thousands) Securities available for sale: Due within one year $ 3,153 $ 13 $ (1) $ 3,165 Due after one but within five years 24,515 1,140 (2) 25,653 Due after five but within ten years 22,615 99 (91) 22,623 Due after ten years 141,657 1,762 (368) 143,051 $ 191,940 $ 3,014 $ (462) $ 194,492 |
Schedule of unrealized loss on investments | The following tables show the gross unrealized losses and fair value of the Company’s investment securities, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, at March 31, 2021 and December 31, 2020. March 31, 2021 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 $ 43,701 $ (2,800) $ 217 $ (1) $ 43,918 $ (2,801) Mortgage-backed securities–GSE’s 38,761 (1,552) — — 38,761 (1,552) Corporate bonds — — — — — — Municipal bonds 71,241 (2,918) — — 71,241 (2,918) Total temporarily impaired securities $ 153,703 $ (7,270) $ 217 $ (1) $ 153,920 $ (7,271) December 31, 2020 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 $ 42,159 $ (340) $ 420 $ (2) $ 42,579 $ (342) Mortgage-backed securities–GSE’s 19,297 (46) 1,999 (1) 21,296 (47) Corporate bonds — — — — — — Municipal bonds 10,105 (73) — — 10,105 (73) Total temporarily impaired securities $ 71,561 $ (459) $ 2,419 $ (3) $ 73,980 $ (462) |
LOANS (Tables)
LOANS (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
LOANS | |
Schedule of the composition of the loan portfolio | Following is a summary of the composition of the Company’s loan portfolio at March 31, 2021 and December 31, 2020: March 31, December 31, 2021 2020 Percent Percent Amount of total Amount of total (dollars in thousands) Real estate loans: 1-to-4 family residential $ 185,652 13.83 % $ 194,031 14.88 % Commercial real estate 695,702 51.83 % 608,482 46.65 % Multi-family residential 86,159 6.42 % 82,508 6.32 % Construction 203,212 15.14 % 236,735 18.15 % Home equity lines of credit (“HELOC”) 56,247 4.19 % 53,806 4.12 % Total real estate loans 1,226,972 91.41 % 1,175,562 90.12 % Other loans: Commercial and industrial 116,104 8.65 % 125,700 9.64 % Loans to individuals 4,478 0.33 % 6,629 0.04 % Overdrafts 51 — % 493 0.51 % Total other loans 120,633 8.98 % 132,822 10.19 % Gross loans 1,347,605 1,308,384 Less deferred loan origination fees, net (5,289) (.39) % (4,000) (.31) % Total loans 1,342,316 100.00 % 1,304,384 100.00 % Allowance for loan losses (13,187) (14,108) Total loans, net $ 1,329,129 $ 1,290,276 |
Schedule of Purchased Credit Impaired, or PCI, the contractually required payments including principal and interest, cash flows expected to be collected | March 31, 2021 December 31, 2020 Contractually required payments $ 34,430 $ 37,241 Nonaccretable difference 3,593 3,586 Cash flows expected to be collected 30,837 33,655 Accretable yield 5,222 4,622 Carrying value $ 25,615 $ 29,033 |
Schedule of age analysis of past due loans, segregated by class of loans | The following tables present an age analysis of past due loans, segregated by class of loans as of March 31, 2021 and December 31, 2020, respectively: March 31, 2021 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) Commercial and industrial $ 98 $ 2 $ 976 $ 3,144 $ 4,220 $ 111,884 $ 116,104 Construction 174 — — 492 666 202,546 203,212 Multi-family residential 34 — — — 34 86,125 86,159 Commercial real estate 68 — — 1,477 1,545 694,157 695,702 Loans to individuals & overdrafts 11 — — 145 156 4,373 4,529 1‑to‑4 family residential 1,298 49 697 746 2,790 182,862 185,652 HELOC 42 — — 91 133 56,114 56,247 Deferred loan (fees) cost, net — — — — — — (5,289) $ 1,725 $ 51 $ 1,673 $ 6,095 $ 9,544 $ 1,338,061 $ 1,342,316 December 31, 2020 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) Commercial and industrial $ 11 $ 1,003 $ 2 $ 3,601 $ 4,617 $ 121,083 $ 125,700 Construction 8 — — 154 162 236,573 236,735 Multi-family residential — 1,533 — — 1,533 80,975 82,508 Commercial real estate 1,880 — 9 2,008 3,897 604,585 608,482 Loans to individuals & overdrafts 10 — — 145 155 6,967 7,122 1‑to‑4 family residential 700 — 760 655 2,115 191,916 194,031 HELOC 67 — 31 227 325 53,481 53,806 Deferred loan (fees) cost, net — — — — — — (4,000) $ 2,676 $ 2,536 $ 802 $ 6,790 $ 12,804 $ 1,295,580 $ 1,304,384 |
Schedule of information on loans that were considered to be impaired | As of March 31, 2021 Three Months Ended Contractual March 31, 2021 Unpaid Related Average Interest Income Recorded Principal Allowance Recorded Recognized on Investment Balance for Loan Losses Investment Impaired Loans (dollars in thousands) 2021 : With no related allowance recorded: Commercial and industrial $ 2,164 $ 2,164 $ — $ 2,375 $ 12 Construction 590 659 — 421 4 Commercial real estate 4,611 4,611 — 4,646 57 Loans to individuals & overdrafts 196 196 — 197 — Multi-family residential — — — — — HELOC 370 370 — 376 7 1‑to‑4 family residential 305 305 — 247 4 Subtotal: 8,236 8,305 — 8,262 84 With an allowance recorded: Commercial and industrial 1,684 1,884 876 1,485 7 Construction — — — — — Commercial real estate 349 349 237 348 3 Loans to individuals & overdrafts — — — — — Multi-family Residential — — — — — HELOC 65 65 3 65 1 1‑to‑4 family residential 13 13 9 14 — Subtotal: 2,111 2,311 1,125 1,912 11 Totals: Commercial 9,398 9,667 1,113 9,275 83 Consumer 196 196 — 197 — Residential 753 753 12 702 12 Grand Total: $ 10,347 $ 10,616 $ 1,125 $ 10,174 $ 95 As of December 31, 2020 Three Months Ended Contractual March 31, 2020 Unpaid Related Average Interest Income Recorded Principal Allowance Recorded Recognized on Investment Balance for Loan Losses Investment Impaired Loans (dollars in thousands) 2020 : With no related allowance recorded: Commercial and industrial $ 2,231 $ 2,525 $ — $ 3,684 $ 44 Construction 252 440 — 438 5 Commercial real estate 5,090 5,426 — 5,504 65 Loans to individuals & overdrafts 250 287 — 99 — Multi-family residential — — — 269 11 HELOC 383 478 — 734 12 1‑to‑4 family residential 206 259 — 1,735 12 Subtotal: 8,412 9,415 — 12,463 149 With an allowance recorded: Commercial and industrial 1,641 1,918 419 1,037 — Construction — — — 70 — Commercial real estate 415 415 323 — — Loans to individuals & overdrafts — — — — — Multi-family Residential — — — — — HELOC 82 83 7 — — 1‑to‑4 family residential 14 16 9 71 10 Subtotal: 2,152 2,432 758 1,178 10 Totals: Commercial 9,629 10,724 742 10,832 114 Consumer 250 287 — 269 11 Residential 685 836 16 2,540 34 Grand Total: $ 10,564 $ 11,847 $ 758 $ 13,641 $ 159 |
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 table presents loans that were modified as troubled debt restructurings (“TDRs”) with a breakdown of the types of concessions made by loan class during the three months ended March 31, 2021 and 2020: Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Pre-Modification Post-Modification Pre-Modification Post-Modification Number Outstanding Outstanding Number Outstanding Outstanding of Recorded Recorded of Recorded Recorded loans Investments Investments loans Investments Investments (dollars in thousands) (dollars in thousands) Extended payment terms: 1-to-4 family residential 2 $ 339 $ 325 6 $ 797 $ 537 Commercial real estate — — — — — — Construction — — — 1 157 13 HELOC — — — 2 240 232 Commercial & industrial 2 146 139 4 1,091 1,083 Loans to individuals — — — 1 14 9 Total 4 $ 485 $ 464 14 $ 2,299 $ 1,874 The following table presents loans that were modified as TDRs within the past twelve months with a breakdown of the types for which there was a payment default during that period together with concessions made by loan class during the twelve month periods ended March 31, 2021 and 2020: Twelve months ended Twelve months ended March 31, 2021 March 31, 2020 Number Recorded Number Recorded of loans investment of loans investment (dollars in thousands) (dollars in thousands) Extended payment terms: Commercial and industrial 5 $ 1,318 3 $ 2,209 Construction 1 111 — — 1-to-4 family residential 3 178 — — Total 9 $ 1,607 3 $ 2,209 |
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 March 31, 2021 and December 31, 2020, respectively: Total loans: March 31, 2021 Commercial Credit Exposure By Commercial Commercial Internally and real Multi-family Assigned Grade industrial Construction estate residential (dollars in thousands) Superior $ 51,826 $ — $ 640 $ — Very good 959 335 3,650 — Good 4,214 1,222 97,675 2,345 Acceptable 14,149 14,316 334,468 46,259 Acceptable with care 39,415 186,590 249,712 37,555 Special mention 1,524 257 5,833 — Substandard 4,017 492 3,724 — Doubtful — — — — Loss — — — — $ 116,104 $ 203,212 $ 695,702 $ 86,159 Consumer Credit Exposure By Internally 1 ‑ to ‑ 4 family Assigned Grade residential HELOC Pass $ 183,044 $ 55,372 Special mention 780 223 Substandard 1,828 652 $ 185,652 $ 56,247 Consumer Credit Exposure Based Loans to On Payment individuals & Activity overdrafts Pass $ 4,318 Special mention 211 $ 4,529 Total Loans: December 31, 2020 Commercial Credit Exposure By Commercial Commercial Internally and real Multi-family Assigned Grade industrial Construction estate residential (dollars in thousands) Superior $ 56,510 $ — $ 123 $ — Very good 508 70 8,129 — Good 4,693 1,770 80,401 2,086 Acceptable 17,226 18,084 308,200 46,820 Acceptable with care 40,946 216,418 203,008 32,068 Special mention 1,313 239 4,344 1,534 Substandard 4,504 154 4,277 — Doubtful — — — — Loss — — — — $ 125,700 $ 236,735 $ 608,482 $ 82,508 Consumer Credit Exposure By Internally 1 ‑ to ‑ 4 family Assigned Grade residential HELOC Pass $ 190,975 $ 52,756 Special mention 633 226 Substandard 2,423 824 $ 194,031 $ 53,806 Consumer Credit Exposure Based Loans to On Payment individuals & Activity overdrafts Pass $ 6,845 Special mention 277 $ 7,122 |
Schedule of changes to the amount of the accretable yield on PCI loans | Three Months Ended March 31, 2021 2020 (dollars in thousands) Accretable yield, beginning of period $ 4,622 $ 3,191 Additions — — Accretion (399) (280) Reclassification from nonaccretable difference 263 32 Other changes, net 736 43 Accretable yield, end of period $ 5,222 $ 2,986 |
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 class for the three-month periods ended March 31, 2021 and March 31, 2020, respectively (dollars in thousands): Three Months Ended March 31, 2021 Commercial 1 to 4 Loans to Multi- and Commercial family individuals & family 2021 industrial Construction real estate residential HELOC overdrafts residential Total Allowance for loan losses Loans – excluding PCI Balance, beginning of period 1/01/2021 $ 3,302 $ 2,334 $ 5,472 $ 1,365 $ 371 $ 109 $ 820 $ 13,773 Provision for (recovery of) loan losses 286 (630) (705) (334) (45) (55) 474 (1,009) Loans charged-off (197) — — (8) — (10) — (215) Recoveries 27 — 25 5 2 12 — 71 Balance, end of period 3/31/2021 $ 3,418 $ 1,704 $ 4,792 $ 1,028 $ 328 $ 56 $ 1,294 $ 12,620 PCI Loans Balance, beginning of period 1/01/2021 $ 203 $ 31 $ 4 $ 85 $ 1 $ — $ 11 $ 335 Provision for (recovery of) loan losses — 7 — 226 — — (1) 232 Loans charged-off — — — — — — — — Recoveries — — — — — — — — Balance, end of period 3/31/2021 $ 203 $ 38 $ 4 $ 311 $ 1 $ — $ 10 $ 567 Total Loans Balance, beginning of period 1/01/2021 $ 3,505 $ 2,365 $ 5,476 $ 1,450 $ 372 $ 109 $ 831 $ 14,108 Provision for (recovery of) loan losses 286 (623) (705) (108) (45) (55) 473 (777) Loans charged-off (197) — — (8) — (10) — (215) Recoveries 27 — 25 5 2 12 — 71 Balance, end of period 3/31/2021 $ 3,621 $ 1,742 $ 4,796 $ 1,339 $ 329 $ 56 $ 1,304 $ 13,187 Ending Balance: individually evaluated for impairment $ 876 $ — $ 237 $ 9 $ 3 $ — $ — $ 1,125 Ending Balance: collectively evaluated for impairment $ 2,745 $ 1,742 $ 4,559 $ 1,330 $ 326 $ 56 $ 1,304 $ 12,062 Loans: Ending Balance: collectively evaluated for impairment non PCI loans $ 110,730 $ 201,736 $ 679,087 $ 175,495 $ 55,190 $ 4,265 $ 85,140 $ 1,311,643 Ending Balance: collectively evaluated for impairment PCI loans $ 1,526 $ 886 $ 11,655 $ 9,839 $ 622 $ 68 $ 1,019 $ 25,615 Ending Balance: individually evaluated for impairment $ 3,848 $ 590 $ 4,960 $ 318 $ 435 $ 196 $ — $ 10,347 Ending Balance $ 116,104 $ 203,212 $ 695,702 $ 185,652 $ 56,247 $ 4,529 $ 86,159 $ 1,347,605 Three Months Ended March 31, 2020 Commercial 1 to 4 Loans to Multi- and Commercial family individuals & family 2020 industrial Construction real estate residential HELOC overdrafts residential Total Allowance for loan losses Loans – excluding PCI Balance, beginning of period 12/01/2019 $ 1,127 $ 1,731 $ 2,837 $ 1,437 $ 329 $ 175 $ 419 $ 8,055 Provision for (recovery of) loan losses 717 394 720 267 69 (20) 127 2,274 Loans charged-off (11) — — — — (16) — (27) Recoveries 1 — 1 10 — 4 — 16 Balance, end of period 3/31/2020 $ 1,834 $ 2,125 $ 3,558 $ 1,714 $ 398 $ 143 $ 546 $ 10,318 PCI Loans Balance, beginning of period 12/01/2019 $ 178 $ 6 $ 14 $ 56 $ — $ — $ 15 $ 269 Provision for (recovery of) loan losses 21 1 — (13) — — (10) (1) Loans charged-off — — — — — — — — Recoveries — — — — — — — — Balance, end of period 3/31/2020 $ 199 $ 7 $ 14 $ 43 $ — $ — $ 5 $ 268 Total Loans Balance, beginning of period 12/01/2019 $ 1,305 $ 1,737 $ 2,851 $ 1,493 $ 329 $ 175 $ 434 $ 8,324 Provision for (recovery of) loan losses 738 395 720 254 69 (20) 117 2,273 Loans charged-off (11) — — — — (16) — (27) Recoveries 1 — 1 10 — 4 — 16 Balance, end of period 3/31/2020 $ 2,033 $ 2,132 $ 3,572 $ 1,757 $ 398 $ 143 $ 551 $ 10,586 Ending Balance: individually evaluated for impairment $ 601 $ — $ 96 $ 5 $ — $ — $ — $ 702 Ending Balance: collectively evaluated for impairment $ 1,432 $ 2,132 $ 3,476 $ 1,752 $ 398 $ 143 $ 551 $ 9,884 Loans: Ending Balance: collectively evaluated for impairment non PCI loans $ 67,312 $ 227,538 $ 453,592 $ 147,444 $ 43,017 $ 7,754 $ 69,845 $ 1,016,502 Ending Balance: collectively evaluated for impairment PCI loans $ 1,099 $ 672 $ 5,669 $ 6,048 $ 49 $ — $ 886 $ 14,423 Ending Balance: individually evaluated for impairment $ 3,816 $ 436 $ 5,065 $ 431 $ 750 $ 255 $ — $ 10,753 Ending Balance $ 72,227 $ 228,646 $ 464,326 $ 153,923 $ 43,816 $ 8,009 $ 70,731 $ 1,041,678 |
OTHER REAL ESTATE OWNED (Tables
OTHER REAL ESTATE OWNED (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
OTHER REAL ESTATE OWNED | |
Schedule Of Real Estate Owned Properties | The following table explains changes in other real estate owned, or OREO, during the three months ended March 31, 2021 and 2020: Three Months Three Months Ended Ended March 31, March 31, 2021 2020 (Dollars in thousands) Beginning balance January 1 $ 2,172 $ 3,533 Sales proceeds (874) — Write-downs and (loss) gain on sales 144 — Transfers 526 204 Ending balance $ 1,968 $ 3,737 |
LEASES (Tables)
LEASES (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
LEASES | |
Schedule of leases | Three Months Three Months Ended Ended March 31, March 31, 2021 2020 Operating lease cost 315 308 Supplemental cash flow information related to leases was as follows: Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 315 $ 308 Right-of-use assets obtained in exchange for lease obligations: Operating leases 8,358 8,414 The following table presents the remaining weighted average lease terms and discount rates as of March 31, 2020 and 2019 : March 31, 2021 March 31, 2020 Weighted Average Remaining Lease Term Operating Leases 11.6 years 6.7 years Weighted Average Discount Rate Operating Leases 6.0 % 6.0 % |
Schedule of maturities of lease liabilities | Operating (In thousands) Leases Year Ending December 31, 2021 $ 563 2022 816 2023 796 2024 769 2025 842 Thereafter 5,562 Lease payments 9,348 Amounts representing interest (582) Present Value of Net Future Minimum Lease Payments $ 8,766 |
PER SHARE RESULTS - Anti-diluti
PER SHARE RESULTS - Anti-dilutive securities (Details) - shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Share-based Payment Arrangement, Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 235,620 | 219,120 |
PER SHARE RESULTS - Weighted-av
PER SHARE RESULTS - Weighted-average shares outstanding (Details) - shares | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
PER SHARE RESULTS | ||
Weighted average shares used for basic net income per share | 17,386,715 | 18,255,351 |
Effect of dilutive stock options | 28,965 | 31,713 |
Weighted average shares used for diluted net income per share | 17,415,680 | 18,287,064 |
RECENT ACCOUNTING PRONOUNCEME_2
RECENT ACCOUNTING PRONOUNCEMENTS (Details) | Mar. 31, 2021 |
Accounting Standards Update 2016-13 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Change in Accounting Principle, Accounting Standards Update, Adopted | false |
FAIR VALUE MEASUREMENTS - Recur
FAIR VALUE MEASUREMENTS - Recurring basis (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | $ 208,648 | $ 194,492 |
Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 208,648 | 194,492 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 50,801 | 50,232 |
US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 50,801 | 50,232 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 66,582 | 48,931 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 66,582 | 48,931 |
Corporate Debt Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 2,250 | 2,350 |
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 2,250 | 2,350 |
Municipal Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 89,015 | 92,979 |
Municipal Bonds [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 89,015 | 92,979 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 208,648 | 194,492 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 208,648 | 194,492 |
Fair Value, Inputs, Level 2 [Member] | US Government-sponsored Enterprises Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 50,801 | 50,232 |
Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 66,582 | 48,931 |
Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | 2,250 | 2,350 |
Fair Value, Inputs, Level 2 [Member] | Municipal Bonds [Member] | Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt Securities, Available-for-sale | $ 89,015 | $ 92,979 |
FAIR VALUE MEASUREMENTS - Non-r
FAIR VALUE MEASUREMENTS - Non-recurring basis - General information (Details) | Mar. 31, 2021 |
Minimum [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Percentage of Discount from Impaired Loans | 3.00% |
Minimum [Member] | Fair Value, Nonrecurring [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Percentage of Discount from Foreclosed Real Estate | 6.00% |
Maximum [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Percentage of Discount from Impaired Loans | 20.00% |
Maximum [Member] | Fair Value, Nonrecurring [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Percentage of Discount from Foreclosed Real Estate | 10.00% |
FAIR VALUE MEASUREMENTS - Non_2
FAIR VALUE MEASUREMENTS - Non-recurring basis - Tabular Disclosure (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Financing Receivable, Recorded Investment, Nonaccrual Status | $ 6,095 | $ 6,790 | ||
Foreclosed real estate | 1,968 | 2,172 | $ 3,737 | $ 3,533 |
Fair Value, Nonrecurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 6,095 | 6,790 | ||
Foreclosed real estate | 1,968 | 2,172 | ||
Total | 8,063 | 8,962 | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Financing Receivable, Recorded Investment, Nonaccrual Status | 6,095 | 6,790 | ||
Foreclosed real estate | 1,968 | 2,172 | ||
Total | $ 8,063 | $ 8,962 |
FAIR VALUE MEASUREMENTS - Carry
FAIR VALUE MEASUREMENTS - Carrying values and estimated fair values (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
Cash and due from banks | $ 22,533 | $ 23,324 |
Certificates of deposit | 250 | |
Interest-earning deposits in other banks | 133,884 | 87,399 |
Federal funds sold | 4,966 | 5,364 |
Investment securities available for sale, at fair value | 208,648 | 194,492 |
Accrued interest receivable | 4,991 | 5,110 |
Other non-marketable securities | 655 | 709 |
Financial Liabilities Fair Value Disclosure [Abstract] | ||
Accrued interest payable | 206 | 246 |
Reported Value Measurement [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
Cash and due from banks | 22,533 | 23,324 |
Certificates of deposit | 250 | |
Interest-earning deposits in other banks | 133,884 | 87,399 |
Federal funds sold | 4,966 | 5,364 |
Investment securities available for sale, at fair value | 208,648 | 194,492 |
Loans held for sale | 3,953 | 2,064 |
Loans, net | 1,329,129 | 1,290,276 |
Accrued interest receivable | 4,991 | 5,110 |
Stock in the FHLB | 862 | 1,147 |
Other non-marketable securities | 655 | 709 |
Financial Liabilities Fair Value Disclosure [Abstract] | ||
Deposits | 1,582,637 | 1,485,817 |
Long-term debt | 12,372 | 12,372 |
Accrued interest payable | 206 | 246 |
Estimated Fair Value [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
Cash and due from banks | 22,533 | 23,324 |
Certificates of deposit | 250 | |
Interest-earning deposits in other banks | 133,884 | 87,399 |
Federal funds sold | 4,966 | 5,364 |
Investment securities available for sale, at fair value | 208,648 | 194,492 |
Loans held for sale | 3,953 | 2,064 |
Loans, net | 1,332,310 | 1,294,552 |
Accrued interest receivable | 4,991 | 5,110 |
Stock in the FHLB | 862 | 1,147 |
Other non-marketable securities | 655 | 709 |
Financial Liabilities Fair Value Disclosure [Abstract] | ||
Deposits | 1,584,959 | 1,489,220 |
Long-term debt | 10,801 | 9,965 |
Accrued interest payable | 206 | 246 |
Fair Value, Inputs, Level 1 [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
Cash and due from banks | 22,533 | 23,324 |
Certificates of deposit | 250 | |
Interest-earning deposits in other banks | 133,884 | 87,399 |
Federal funds sold | 4,966 | 5,364 |
Fair Value, Inputs, Level 2 [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
Investment securities available for sale, at fair value | 208,648 | 194,492 |
Loans held for sale | 3,953 | 2,064 |
Accrued interest receivable | 4,991 | 5,110 |
Financial Liabilities Fair Value Disclosure [Abstract] | ||
Long-term debt | 10,801 | 9,965 |
Accrued interest payable | 206 | 246 |
Fair Value, Inputs, Level 3 [Member] | ||
Financial Instruments, Financial Assets, Balance Sheet Groupings [Abstract] | ||
Loans, net | 1,332,310 | 1,294,552 |
Stock in the FHLB | 862 | 1,147 |
Other non-marketable securities | 655 | 709 |
Financial Liabilities Fair Value Disclosure [Abstract] | ||
Deposits | $ 1,584,959 | $ 1,489,220 |
INVESTMENT SECURITIES - Amortiz
INVESTMENT SECURITIES - Amortized cost - Tabular disclosure (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract] | ||
Debt Securities, Available-for-sale, Amortized Cost | $ 214,253 | $ 191,940 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 1,666 | 3,014 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (7,271) | (462) |
Debt Securities, Available-for-sale | 208,648 | 194,492 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract] | ||
Debt Securities, Available-for-sale, Amortized Cost | 53,387 | 50,304 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 215 | 270 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (2,801) | (342) |
Debt Securities, Available-for-sale | 50,801 | 50,232 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract] | ||
Debt Securities, Available-for-sale, Amortized Cost | 67,058 | 47,658 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 1,076 | 1,320 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (1,552) | (47) |
Debt Securities, Available-for-sale | 66,582 | 48,931 |
Corporate Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract] | ||
Debt Securities, Available-for-sale, Amortized Cost | 2,247 | 2,343 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 3 | 7 |
Debt Securities, Available-for-sale | 2,250 | 2,350 |
Municipal Bonds [Member] | ||
Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract] | ||
Debt Securities, Available-for-sale, Amortized Cost | 91,561 | 91,635 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | 372 | 1,417 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | (2,918) | (73) |
Debt Securities, Available-for-sale | $ 89,015 | $ 92,979 |
INVESTMENT SECURITIES - Amort_2
INVESTMENT SECURITIES - Amortized cost - Additional information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
INVESTMENT SECURITIES | ||
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment, before Tax | $ (5,600) | $ 2,600 |
Unrealized losses on available-for-sale securities | $ 1,300 | |
Unrealized gains on available-for-sale securities | $ 587 |
INVESTMENT SECURITIES - Contrac
INVESTMENT SECURITIES - Contractual maturities - Amortized cost and fair value (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost [Abstract] | ||
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Remainder of Fiscal Year | $ 528 | |
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | 0 | $ 3,153 |
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 21,555 | 24,515 |
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 36,843 | 22,615 |
Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 10 | 155,327 | 141,657 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Amortized Cost, Total | 214,253 | 191,940 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value [Abstract] | ||
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Remainder of Fiscal Year | 540 | |
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | 0 | 3,165 |
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 22,474 | 25,653 |
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | 35,424 | 22,623 |
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | 150,210 | 143,051 |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value, Total | $ 208,648 | $ 194,492 |
INVESTMENT SECURITIES - Contr_2
INVESTMENT SECURITIES - Contractual maturities - Gross unrealized gains and gross unrealized losses (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
INVESTMENT SECURITIES | ||
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, Maturity, Allocated and Single Maturity Date, Remainder of Fiscal Year | $ 12 | |
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, Maturity, Allocated and Single Maturity Date, Year One | 0 | $ 13 |
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, Maturity, Allocated and Single Maturity Date, after Year One Through Five | 971 | 1,140 |
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, Maturity, Allocated and Single Maturity Date, after Year Five Through Ten | 101 | 99 |
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain, Maturity, Allocated and Single Maturity Date, after Year Ten | 582 | 1,762 |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax, Total | 1,666 | 3,014 |
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, Maturity, Allocated and Single Maturity Date, Year One | 0 | (1) |
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, Maturity, Allocated and Single Maturity Date, after Year One Through Five | (52) | (2) |
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, Maturity, Allocated and Single Maturity Date, after Year Five Through Ten | (1,520) | (91) |
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Loss, Maturity, Allocated and Single Maturity Date, after Year Ten | (5,699) | (368) |
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax, Total | $ (7,271) | $ (462) |
INVESTMENT SECURITIES - Securit
INVESTMENT SECURITIES - Securities pledged (Details) - USD ($) $ in Millions | Mar. 31, 2021 | Dec. 31, 2020 |
Debt Securities, Available-for-sale, Restricted [Abstract] | ||
Debt Securities, Available-for-sale, Restricted | $ 81.3 | $ 68.4 |
INVESTMENT SECURITIES - Other-t
INVESTMENT SECURITIES - Other-than-temporary impairment (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2021USD ($) | |
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale [Abstract] | |
Other-than-temporary Impairment Loss, Debt Securities, Available-for-sale | $ 0 |
INVESTMENT SECURITIES - Gross u
INVESTMENT SECURITIES - Gross unrealized losses and fair value (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Schedule of Available-for-sale Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 153,703 | $ 71,561 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 217 | 2,419 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 153,920 | 73,980 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (7,270) | (459) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1) | (3) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (7,271) | (462) |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 43,701 | 42,159 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 217 | 420 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 43,918 | 42,579 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (2,800) | (340) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1) | (2) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (2,801) | (342) |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 38,761 | 19,297 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 1,999 | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 38,761 | 21,296 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1,552) | (46) |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1) | |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | (1,552) | (47) |
Municipal Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 71,241 | 10,105 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Total | 71,241 | 10,105 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (2,918) | (73) |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss | $ (2,918) | $ (73) |
INVESTMENT SECURITIES - Continu
INVESTMENT SECURITIES - Continuous unrealized loss position (Details) $ in Thousands | Mar. 31, 2021USD ($)security | Dec. 31, 2020USD ($)security |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security | 1 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions | security | 86 | 30 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ | $ 1 | $ 3 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ | $ 7,270 | $ 459 |
US Government-sponsored Enterprises Debt Securities [Member] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security | 1 | 2 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions | security | 13 | 11 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ | $ 1 | $ 2 |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ | $ 2,800 | $ 340 |
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Number of Positions | security | 1 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions | security | 16 | 7 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $ | $ 1 | |
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ | $ 1,552 | $ 46 |
Municipal Bonds [Member] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Number of Positions [Abstract] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Number of Positions | security | 57 | 12 |
Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ | $ 2,918 | $ 73 |
LOANS - Loan portfolio (Details
LOANS - Loan portfolio (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | $ 1,347,605 | $ 1,308,384 | $ 1,041,678 | |
Less deferred loan origination fees, net | (5,289) | (4,000) | ||
Total loans | 1,342,316 | 1,304,384 | ||
Allowance for loan losses | (13,187) | (14,108) | (10,586) | $ (8,324) |
Total loans, net | $ 1,329,129 | $ 1,290,276 | ||
Less deferred loan origination fees, net | (0.39%) | (0.31%) | ||
Percent of total | 100.00% | 100.00% | ||
Real Estate Loan [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | $ 1,226,972 | $ 1,175,562 | ||
Percent of total | 91.41% | 90.12% | ||
Other Loan [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | $ 120,633 | $ 132,822 | ||
Percent of total | 8.98% | 10.19% | ||
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Commercial real estate [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | $ 695,702 | $ 608,482 | 464,326 | |
Total loans | 695,702 | 608,482 | ||
Allowance for loan losses | $ (4,796) | $ (5,476) | (3,572) | (2,851) |
Percent of total | 51.83% | 46.65% | ||
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Construction [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | $ 203,212 | $ 236,735 | 228,646 | |
Total loans | 203,212 | 236,735 | ||
Allowance for loan losses | $ (1,742) | $ (2,365) | (2,132) | (1,737) |
Percent of total | 15.14% | 18.15% | ||
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | $ 116,104 | $ 125,700 | 72,227 | |
Total loans | 116,104 | 125,700 | ||
Allowance for loan losses | $ (3,621) | $ (3,505) | (2,033) | (1,305) |
Percent of total | 8.65% | 9.64% | ||
Commercial Portfolio Segment [Member] | Other Loan [Member] | Loans to individuals [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | $ 4,478 | $ 6,629 | ||
Percent of total | 0.33% | 0.04% | ||
Commercial Portfolio Segment [Member] | Other Loan [Member] | Overdrafts [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | $ 51 | $ 493 | ||
Percent of total | 0.51% | |||
Consumer Portfolio Segment [Member] | Real Estate Loan [Member] | Multi-family residential [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | 86,159 | $ 82,508 | 70,731 | |
Total loans | 86,159 | 82,508 | ||
Allowance for loan losses | $ (1,304) | $ (831) | (551) | (434) |
Percent of total | 6.42% | 6.32% | ||
Residential Portfolio Segment [Member] | HELOC [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | $ 56,247 | $ 53,806 | ||
Percent of total | 4.19% | 4.12% | ||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | 1- to- 4 family residential real estate loans [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | $ 185,652 | $ 194,031 | 153,923 | |
Total loans | 185,652 | 194,031 | ||
Allowance for loan losses | $ (1,339) | $ (1,450) | (1,757) | (1,493) |
Percent of total | 13.83% | 14.88% | ||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | HELOC [Member] | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||
Gross loans | $ 56,247 | 43,816 | ||
Total loans | 56,247 | $ 53,806 | ||
Allowance for loan losses | $ (329) | $ (372) | $ (398) | $ (329) |
LOANS - PCI loans - Contractual
LOANS - PCI loans - Contractually required payments (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
LOANS | ||
Contractually required payments | $ 34,430 | $ 37,241 |
Nonaccretable difference | 3,593 | 3,586 |
Cash flows expected to be collected | 30,837 | 33,655 |
Accretable yield | 5,222 | 4,622 |
Carrying value | $ 25,615 | $ 29,033 |
LOANS - Unused lines of credit
LOANS - Unused lines of credit (Details) $ in Millions | Mar. 31, 2021USD ($) |
Unused Lines of Credit [Member] | |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | |
Fair Value Disclosure, Off-balance Sheet Risks, Face Amount, Liability | $ 364.3 |
LOANS - Paycheck Protection Pro
LOANS - Paycheck Protection Program (Details) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021USD ($)loan | Dec. 31, 2020USD ($)loan | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 1,342,316 | $ 1,304,384 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans | $ 116,104 | $ 125,700 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | Small Business Administration (SBA), CARES Act, Paycheck Protection Program [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of loans originated | loan | 441 | 1,249 |
Loans originated | $ 35,600 | $ 97,000 |
Loans forgiven | $ 39,900 | |
Number of loans | loan | 653 | |
Loans | $ 51,200 | $ 55,500 |
LOANS - COVID-19 (Details)
LOANS - COVID-19 (Details) $ in Millions | 12 Months Ended |
Mar. 31, 2021USD ($)loan | |
LOANS | |
Financing Receivable, Not Classified as Troubled Debt Restructuring, CARES Act, Payment Deferrals, Loans, Granted, Number | loan | 419 |
Financing Receivable, Not Classified as Troubled Debt Restructuring, CARES Act, Payment Deferrals, Loans, Granted | $ | $ 219.6 |
Financing Receivable, Not Classified as Troubled Debt Restructuring, CARES Act, Payment Deferrals, Loans, Expire Within 90 Days, Number | loan | 18 |
Financing Receivable, Not Classified as Troubled Debt Restructuring, CARES Act, Payment Deferrals, Loans, Expire Within 90 Days | $ | $ 16.8 |
LOANS - Loans pledged to the FH
LOANS - Loans pledged to the FHLB (Details) $ in Millions | Mar. 31, 2021USD ($) |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures [Abstract] | |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 87.9 |
LOANS - Non-accrual and past du
LOANS - Non-accrual and past due loans (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, 90 Days or More Past Due, Still Accruing | $ 1,673 | $ 802 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 6,095 | 6,790 |
Financing Receivable, Past Due | 9,544 | 12,804 |
Total Current | 1,338,061 | 1,295,580 |
Loans | 1,342,316 | 1,304,384 |
Deferred loan (fees) cost, net | (5,289) | (4,000) |
Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 1,725 | 2,676 |
Financial Asset, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 51 | 2,536 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 492 | 154 |
Financing Receivable, Past Due | 666 | 162 |
Total Current | 202,546 | 236,573 |
Loans | 203,212 | 236,735 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Construction [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 174 | 8 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, 90 Days or More Past Due, Still Accruing | 9 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 1,477 | 2,008 |
Financing Receivable, Past Due | 1,545 | 3,897 |
Total Current | 694,157 | 604,585 |
Loans | 695,702 | 608,482 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Commercial real estate [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 68 | 1,880 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, 90 Days or More Past Due, Still Accruing | 976 | 2 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 3,144 | 3,601 |
Financing Receivable, Past Due | 4,220 | 4,617 |
Total Current | 111,884 | 121,083 |
Loans | 116,104 | 125,700 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 98 | 11 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 2 | 1,003 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Loans to individuals & overdrafts [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Recorded Investment, Nonaccrual Status | 145 | 145 |
Financing Receivable, Past Due | 156 | 155 |
Total Current | 4,373 | 6,967 |
Loans | 4,529 | 7,122 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Loans to individuals & overdrafts [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 11 | 10 |
Consumer Portfolio Segment [Member] | Real Estate Loan [Member] | Multi-family residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 34 | 1,533 |
Total Current | 86,125 | 80,975 |
Loans | 86,159 | 82,508 |
Consumer Portfolio Segment [Member] | Real Estate Loan [Member] | Multi-family residential [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 34 | |
Consumer Portfolio Segment [Member] | Real Estate Loan [Member] | Multi-family residential [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 1,533 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | 1- to- 4 family residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, 90 Days or More Past Due, Still Accruing | 697 | 760 |
Financing Receivable, Recorded Investment, Nonaccrual Status | 746 | 655 |
Financing Receivable, Past Due | 2,790 | 2,115 |
Total Current | 182,862 | 191,916 |
Loans | 185,652 | 194,031 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | 1- to- 4 family residential real estate loans [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 1,298 | 700 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | 1- to- 4 family residential real estate loans [Member] | Financial Asset, 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 49 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | HELOC [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, 90 Days or More Past Due, Still Accruing | 31 | |
Financing Receivable, Recorded Investment, Nonaccrual Status | 91 | 227 |
Financing Receivable, Past Due | 133 | 325 |
Total Current | 56,114 | 53,481 |
Loans | 56,247 | 53,806 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | HELOC [Member] | Financial Asset, 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Financing Receivable, Past Due | 42 | 67 |
Unallocated Financing Receivables [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Deferred loan (fees) cost, net | $ (5,289) | $ (4,000) |
LOANS - Impaired loans - Record
LOANS - Impaired loans - Recorded investment (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
With no related allowance, Recorded Investment | $ 8,236 | $ 8,412 |
With an related allowance, Recorded Investment | 2,111 | 2,152 |
Impaired Financing Receivable, Recorded Investment, Total | 10,347 | 10,564 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
With no related allowance, Contractual Unpaid Principal Balance | 8,305 | 9,415 |
With an related allowance, Contractual Unpaid Principal Balance | 2,311 | 2,432 |
Impaired Financing Receivable, Unpaid Principal Balance, Total | 10,616 | 11,847 |
Related Allowance | 1,125 | 758 |
Commercial Portfolio Segment [Member] | ||
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, Recorded Investment, Total | 9,398 | 9,629 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 9,667 | 10,724 |
Related Allowance | 1,113 | 742 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Construction [Member] | ||
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
With no related allowance, Recorded Investment | 590 | 252 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
With no related allowance, Contractual Unpaid Principal Balance | 659 | 440 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Commercial real estate [Member] | ||
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
With no related allowance, Recorded Investment | 4,611 | 5,090 |
With an related allowance, Recorded Investment | 349 | 415 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
With no related allowance, Contractual Unpaid Principal Balance | 4,611 | 5,426 |
With an related allowance, Contractual Unpaid Principal Balance | 349 | 415 |
Related Allowance | 237 | 323 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | ||
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
With no related allowance, Recorded Investment | 2,164 | 2,231 |
With an related allowance, Recorded Investment | 1,684 | 1,641 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
With no related allowance, Contractual Unpaid Principal Balance | 2,164 | 2,525 |
With an related allowance, Contractual Unpaid Principal Balance | 1,884 | 1,918 |
Related Allowance | 876 | 419 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Loans to individuals & overdrafts [Member] | ||
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
With no related allowance, Recorded Investment | 196 | 250 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
With no related allowance, Contractual Unpaid Principal Balance | 196 | 287 |
Consumer Portfolio Segment [Member] | ||
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, Recorded Investment, Total | 196 | 250 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 196 | 287 |
Residential Portfolio Segment [Member] | ||
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, Recorded Investment, Total | 753 | 685 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
Impaired Financing Receivable, Unpaid Principal Balance, Total | 753 | 836 |
Related Allowance | 12 | 16 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | HELOC [Member] | ||
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
With no related allowance, Recorded Investment | 370 | 383 |
With an related allowance, Recorded Investment | 65 | 82 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
With no related allowance, Contractual Unpaid Principal Balance | 370 | 478 |
With an related allowance, Contractual Unpaid Principal Balance | 65 | 83 |
Related Allowance | 3 | 7 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | 1- to- 4 family residential real estate loans [Member] | ||
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
With no related allowance, Recorded Investment | 305 | 206 |
With an related allowance, Recorded Investment | 13 | 14 |
Impaired Financing Receivable, Unpaid Principal Balance [Abstract] | ||
With no related allowance, Contractual Unpaid Principal Balance | 305 | 259 |
With an related allowance, Contractual Unpaid Principal Balance | 13 | 16 |
Related Allowance | $ 9 | $ 9 |
LOANS - Impaired loans - Averag
LOANS - Impaired loans - Average recorded investment (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
With no related allowance, Average Recorded Investment | $ 8,262 | $ 12,463 |
With an related allowance, Average Recorded Investment | 1,912 | 1,178 |
Impaired Financing Receivable, Average Recorded Investment, Total | 10,174 | 13,641 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ||
With no related allowance, Interest Income Recognized on Impaired Loans | 84 | 149 |
With an related allowance, Interest Income Recognized on Impaired Loans | 11 | 10 |
Impaired Financing Receivable, Interest Income, Accrual Method, Total | 95 | 159 |
Commercial Portfolio Segment [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
Impaired Financing Receivable, Average Recorded Investment, Total | 9,275 | 10,832 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ||
Impaired Financing Receivable, Interest Income, Accrual Method, Total | 83 | 114 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Construction [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
With no related allowance, Average Recorded Investment | 421 | 438 |
With an related allowance, Average Recorded Investment | 70 | |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ||
With no related allowance, Interest Income Recognized on Impaired Loans | 4 | 5 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Commercial real estate [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
With no related allowance, Average Recorded Investment | 4,646 | 5,504 |
With an related allowance, Average Recorded Investment | 348 | |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ||
With no related allowance, Interest Income Recognized on Impaired Loans | 57 | 65 |
With an related allowance, Interest Income Recognized on Impaired Loans | 3 | |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
With no related allowance, Average Recorded Investment | 2,375 | 3,684 |
With an related allowance, Average Recorded Investment | 1,485 | 1,037 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ||
With no related allowance, Interest Income Recognized on Impaired Loans | 12 | 44 |
With an related allowance, Interest Income Recognized on Impaired Loans | 7 | |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Loans to individuals & overdrafts [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
With no related allowance, Average Recorded Investment | 197 | 99 |
Consumer Portfolio Segment [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
Impaired Financing Receivable, Average Recorded Investment, Total | 197 | 269 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ||
Impaired Financing Receivable, Interest Income, Accrual Method, Total | 11 | |
Consumer Portfolio Segment [Member] | Real Estate Loan [Member] | Multi-family residential [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
With no related allowance, Average Recorded Investment | 269 | |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ||
With no related allowance, Interest Income Recognized on Impaired Loans | 11 | |
Residential Portfolio Segment [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
Impaired Financing Receivable, Average Recorded Investment, Total | 702 | 2,540 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ||
Impaired Financing Receivable, Interest Income, Accrual Method, Total | 12 | 34 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | HELOC [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
With no related allowance, Average Recorded Investment | 376 | 734 |
With an related allowance, Average Recorded Investment | 65 | |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ||
With no related allowance, Interest Income Recognized on Impaired Loans | 7 | 12 |
With an related allowance, Interest Income Recognized on Impaired Loans | 1 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | 1- to- 4 family residential real estate loans [Member] | ||
Impaired Financing Receivable, Average Recorded Investment [Abstract] | ||
With no related allowance, Average Recorded Investment | 247 | 1,735 |
With an related allowance, Average Recorded Investment | 14 | 71 |
Impaired Financing Receivable, Interest Income, Accrual Method [Abstract] | ||
With no related allowance, Interest Income Recognized on Impaired Loans | $ 4 | 12 |
With an related allowance, Interest Income Recognized on Impaired Loans | $ 10 |
LOANS - Impaired loans - Additi
LOANS - Impaired loans - Additional information (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, Recorded Investment | $ 10,347 | $ 10,564 |
Impaired Financing Receivable, With Related Allowance, Recorded Investment | 2,111 | 2,152 |
Impaired Financing Receivable, Related Allowance | 1,125 | 758 |
Impaired Financing Receivable, With No Related Allowance, Recorded Investment | 8,236 | 8,412 |
Allowance for Loan and Lease Losses Write-offs, Net | 699 | 81 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | ||
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, Recorded Investment | 6,100 | 6,800 |
Financial Asset, 1 to 89 Days Past Due [Member] | ||
Impaired Financing Receivable, Recorded Investment [Abstract] | ||
Impaired Financing Receivable, Recorded Investment | $ 4,200 | $ 3,800 |
LOANS - Troubled debt restructu
LOANS - Troubled debt restructurings - Modified loans (Details) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021USD ($)loan | Mar. 31, 2020USD ($)loan | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loan | 4 | 14 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 485 | $ 2,299 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 464 | $ 1,874 |
Commercial Portfolio Segment [Member] | Commercial and industrial other loans [Member] | Other Loan [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loan | 2 | 4 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 146 | $ 1,091 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 139 | $ 1,083 |
Commercial Portfolio Segment [Member] | Construction [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loan | 1 | |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 157 | |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 13 | |
Commercial Portfolio Segment [Member] | Loans to individuals [Member] | Other Loan [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loan | 1 | |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 14 | |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 9 | |
Residential Portfolio Segment [Member] | 1- to- 4 family residential real estate loans [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loan | 2 | 6 |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 339 | $ 797 |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 325 | $ 537 |
Residential Portfolio Segment [Member] | HELOC [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Modifications, Number of Contracts | loan | 2 | |
Financing Receivable, Troubled Debt Restructuring, Premodification | $ 240 | |
Financing Receivable, Troubled Debt Restructuring, Postmodification | $ 232 |
LOANS - Troubled debt restruc_2
LOANS - Troubled debt restructurings - Subsequent default (Details) $ in Thousands | 12 Months Ended | |
Mar. 31, 2021USD ($)loan | Mar. 31, 2020USD ($)loan | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | loan | 9 | 3 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ | $ 1,607 | $ 2,209 |
Commercial Portfolio Segment [Member] | Commercial and industrial other loans [Member] | Other Loan [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | loan | 5 | 3 |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ | $ 1,318 | $ 2,209 |
Commercial Portfolio Segment [Member] | Construction [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | loan | 1 | |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ | $ 111 | |
Residential Portfolio Segment [Member] | 1- to- 4 family residential real estate loans [Member] | Real Estate Loan [Member] | ||
Financing Receivable, Troubled Debt Restructuring [Line Items] | ||
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts | loan | 3 | |
Financing Receivable, Troubled Debt Restructuring, Subsequent Default | $ | $ 178 |
LOANS - Troubled debt restruc_3
LOANS - Troubled debt restructurings - Additional information (Details) $ in Millions | Mar. 31, 2021USD ($)loan |
Financing Receivable, Troubled Debt Restructuring [Line Items] | |
Financing Receivable, Troubled Debt Restructuring, Loans, Number | loan | 34 |
Financing Receivable, Troubled Debt Restructuring | $ 5.9 |
Financial Asset, 1 to 89 Days Past Due [Member] | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | |
Financing Receivable, Troubled Debt Restructuring, Loans, Number | loan | 11 |
Financing Receivable, Troubled Debt Restructuring | $ 2.2 |
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | |
Financing Receivable, Troubled Debt Restructuring | $ 3.7 |
LOANS - Risk ratings (Details)
LOANS - Risk ratings (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 1,342,316 | $ 1,304,384 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 203,212 | 236,735 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Construction [Member] | Very Good [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 335 | 70 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Construction [Member] | Good [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,222 | 1,770 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Construction [Member] | Acceptable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 14,316 | 18,084 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Construction [Member] | Acceptable with Care [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 186,590 | 216,418 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Construction [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 257 | 239 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Construction [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 492 | 154 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Commercial real estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 695,702 | 608,482 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Commercial real estate [Member] | Superior [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 640 | 123 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Commercial real estate [Member] | Very Good [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,650 | 8,129 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Commercial real estate [Member] | Good [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 97,675 | 80,401 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Commercial real estate [Member] | Acceptable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 334,468 | 308,200 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Commercial real estate [Member] | Acceptable with Care [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 249,712 | 203,008 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Commercial real estate [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 5,833 | 4,344 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Commercial real estate [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 3,724 | 4,277 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 116,104 | 125,700 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | Superior [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 51,826 | 56,510 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | Very Good [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 959 | 508 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | Good [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,214 | 4,693 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | Acceptable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 14,149 | 17,226 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | Acceptable with Care [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 39,415 | 40,946 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,524 | 1,313 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,017 | 4,504 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Loans to individuals & overdrafts [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,529 | 7,122 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Loans to individuals & overdrafts [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 4,318 | 6,845 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Loans to individuals & overdrafts [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 211 | 277 |
Consumer Portfolio Segment [Member] | Real Estate Loan [Member] | Multi-family residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 86,159 | 82,508 |
Consumer Portfolio Segment [Member] | Real Estate Loan [Member] | Multi-family residential [Member] | Good [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 2,345 | 2,086 |
Consumer Portfolio Segment [Member] | Real Estate Loan [Member] | Multi-family residential [Member] | Acceptable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 46,259 | 46,820 |
Consumer Portfolio Segment [Member] | Real Estate Loan [Member] | Multi-family residential [Member] | Acceptable with Care [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 37,555 | 32,068 |
Consumer Portfolio Segment [Member] | Real Estate Loan [Member] | Multi-family residential [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,534 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | 1- to- 4 family residential real estate loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 185,652 | 194,031 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | 1- to- 4 family residential real estate loans [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 183,044 | 190,975 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | 1- to- 4 family residential real estate loans [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 780 | 633 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | 1- to- 4 family residential real estate loans [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 1,828 | 2,423 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | HELOC [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 56,247 | 53,806 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | HELOC [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 55,372 | 52,756 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | HELOC [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | 223 | 226 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | HELOC [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Loans | $ 652 | $ 824 |
LOANS - Allowance for loan loss
LOANS - Allowance for loan losses - Roll forward (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | $ 14,108 | $ 8,324 |
Provision for (recovery of) loan losses | (777) | 2,273 |
Loans charged-off | (215) | (27) |
Recoveries | 71 | 16 |
Allowance for loan losses, Balance, end of period | 13,187 | 10,586 |
Performing Financial Instruments [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 13,773 | 8,055 |
Provision for (recovery of) loan losses | (1,009) | 2,274 |
Loans charged-off | (215) | (27) |
Recoveries | 71 | 16 |
Allowance for loan losses, Balance, end of period | 12,620 | 10,318 |
Nonperforming Financial Instruments [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 335 | 269 |
Provision for (recovery of) loan losses | 232 | (1) |
Allowance for loan losses, Balance, end of period | 567 | 268 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Construction [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 2,365 | 1,737 |
Provision for (recovery of) loan losses | (623) | 395 |
Allowance for loan losses, Balance, end of period | 1,742 | 2,132 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Construction [Member] | Performing Financial Instruments [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 2,334 | 1,731 |
Provision for (recovery of) loan losses | (630) | 394 |
Allowance for loan losses, Balance, end of period | 1,704 | 2,125 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Construction [Member] | Nonperforming Financial Instruments [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 31 | 6 |
Provision for (recovery of) loan losses | 7 | 1 |
Allowance for loan losses, Balance, end of period | 38 | 7 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Commercial real estate [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 5,476 | 2,851 |
Provision for (recovery of) loan losses | (705) | 720 |
Recoveries | 25 | 1 |
Allowance for loan losses, Balance, end of period | 4,796 | 3,572 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Commercial real estate [Member] | Performing Financial Instruments [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 5,472 | 2,837 |
Provision for (recovery of) loan losses | (705) | 720 |
Recoveries | 25 | 1 |
Allowance for loan losses, Balance, end of period | 4,792 | 3,558 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Commercial real estate [Member] | Nonperforming Financial Instruments [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 4 | 14 |
Allowance for loan losses, Balance, end of period | 4 | 14 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 3,505 | 1,305 |
Provision for (recovery of) loan losses | 286 | 738 |
Loans charged-off | (197) | (11) |
Recoveries | 27 | 1 |
Allowance for loan losses, Balance, end of period | 3,621 | 2,033 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | Performing Financial Instruments [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 3,302 | 1,127 |
Provision for (recovery of) loan losses | 286 | 717 |
Loans charged-off | (197) | (11) |
Recoveries | 27 | 1 |
Allowance for loan losses, Balance, end of period | 3,418 | 1,834 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | Nonperforming Financial Instruments [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 203 | 178 |
Provision for (recovery of) loan losses | 21 | |
Allowance for loan losses, Balance, end of period | 203 | 199 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Loans to individuals & overdrafts [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 109 | 175 |
Provision for (recovery of) loan losses | (55) | (20) |
Loans charged-off | (10) | (16) |
Recoveries | 12 | 4 |
Allowance for loan losses, Balance, end of period | 56 | 143 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Loans to individuals & overdrafts [Member] | Performing Financial Instruments [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 109 | 175 |
Provision for (recovery of) loan losses | (55) | (20) |
Loans charged-off | (10) | (16) |
Recoveries | 12 | 4 |
Allowance for loan losses, Balance, end of period | 56 | 143 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Loans to individuals & overdrafts [Member] | Nonperforming Financial Instruments [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 0 | 0 |
Allowance for loan losses, Balance, end of period | 0 | 0 |
Consumer Portfolio Segment [Member] | Real Estate Loan [Member] | Multi-family residential [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 831 | 434 |
Provision for (recovery of) loan losses | 473 | 117 |
Allowance for loan losses, Balance, end of period | 1,304 | 551 |
Consumer Portfolio Segment [Member] | Real Estate Loan [Member] | Multi-family residential [Member] | Performing Financial Instruments [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 820 | 419 |
Provision for (recovery of) loan losses | 474 | 127 |
Allowance for loan losses, Balance, end of period | 1,294 | 546 |
Consumer Portfolio Segment [Member] | Real Estate Loan [Member] | Multi-family residential [Member] | Nonperforming Financial Instruments [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 11 | 15 |
Provision for (recovery of) loan losses | (1) | (10) |
Allowance for loan losses, Balance, end of period | 10 | 5 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | 1- to- 4 family residential real estate loans [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 1,450 | 1,493 |
Provision for (recovery of) loan losses | (108) | 254 |
Loans charged-off | (8) | |
Recoveries | 5 | 10 |
Allowance for loan losses, Balance, end of period | 1,339 | 1,757 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | 1- to- 4 family residential real estate loans [Member] | Performing Financial Instruments [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 1,365 | 1,437 |
Provision for (recovery of) loan losses | (334) | 267 |
Loans charged-off | (8) | |
Recoveries | 5 | 10 |
Allowance for loan losses, Balance, end of period | 1,028 | 1,714 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | 1- to- 4 family residential real estate loans [Member] | Nonperforming Financial Instruments [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 85 | 56 |
Provision for (recovery of) loan losses | 226 | (13) |
Allowance for loan losses, Balance, end of period | 311 | 43 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | HELOC [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 372 | 329 |
Provision for (recovery of) loan losses | (45) | 69 |
Recoveries | 2 | |
Allowance for loan losses, Balance, end of period | 329 | 398 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | HELOC [Member] | Performing Financial Instruments [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 371 | 329 |
Provision for (recovery of) loan losses | (45) | 69 |
Recoveries | 2 | |
Allowance for loan losses, Balance, end of period | 328 | 398 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | HELOC [Member] | Nonperforming Financial Instruments [Member] | ||
Allowance for Loan and Lease Losses [Roll Forward] | ||
Allowance for loan losses, Balance, beginning of period | 1 | 0 |
Allowance for loan losses, Balance, end of period | $ 1 | $ 0 |
LOANS - Allowance for loan lo_2
LOANS - Allowance for loan losses - Evaluated for impairment (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||
Ending Balance | $ 13,187 | $ 14,108 | $ 10,586 | $ 8,324 |
Ending Balance: individually evaluated for impairment | 1,125 | 702 | ||
Ending Balance: collectively evaluated for impairment | 12,062 | 9,884 | ||
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Construction [Member] | ||||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||
Ending Balance | 1,742 | 2,365 | 2,132 | 1,737 |
Ending Balance: collectively evaluated for impairment | 1,742 | 2,132 | ||
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Commercial real estate [Member] | ||||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||
Ending Balance | 4,796 | 5,476 | 3,572 | 2,851 |
Ending Balance: individually evaluated for impairment | 237 | 96 | ||
Ending Balance: collectively evaluated for impairment | 4,559 | 3,476 | ||
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | ||||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||
Ending Balance | 3,621 | 3,505 | 2,033 | 1,305 |
Ending Balance: individually evaluated for impairment | 876 | 601 | ||
Ending Balance: collectively evaluated for impairment | 2,745 | 1,432 | ||
Commercial Portfolio Segment [Member] | Other Loan [Member] | Loans to individuals & overdrafts [Member] | ||||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||
Ending Balance | 56 | 109 | 143 | 175 |
Ending Balance: collectively evaluated for impairment | 56 | 143 | ||
Consumer Portfolio Segment [Member] | Real Estate Loan [Member] | Multi-family residential [Member] | ||||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||
Ending Balance | 1,304 | 831 | 551 | 434 |
Ending Balance: collectively evaluated for impairment | 1,304 | 551 | ||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | 1- to- 4 family residential real estate loans [Member] | ||||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||
Ending Balance | 1,339 | 1,450 | 1,757 | 1,493 |
Ending Balance: individually evaluated for impairment | 9 | 5 | ||
Ending Balance: collectively evaluated for impairment | 1,330 | 1,752 | ||
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | HELOC [Member] | ||||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | ||||
Ending Balance | 329 | $ 372 | 398 | $ 329 |
Ending Balance: individually evaluated for impairment | 3 | |||
Ending Balance: collectively evaluated for impairment | $ 326 | $ 398 |
LOANS - Loans evaluated for imp
LOANS - Loans evaluated for impairment (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: individually evaluated for impairment | $ 10,347 | $ 10,753 | |
Ending balance | 1,347,605 | $ 1,308,384 | 1,041,678 |
Performing Financial Instruments [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: collectively evaluated for impairment | 1,311,643 | 1,016,502 | |
Nonperforming Financial Instruments [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: collectively evaluated for impairment | 25,615 | 14,423 | |
Real Estate Loan [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance | 1,226,972 | 1,175,562 | |
Other Loan [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance | 120,633 | 132,822 | |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Construction [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: individually evaluated for impairment | 590 | 436 | |
Ending balance | 203,212 | 236,735 | 228,646 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Construction [Member] | Performing Financial Instruments [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: collectively evaluated for impairment | 201,736 | 227,538 | |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Construction [Member] | Nonperforming Financial Instruments [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: collectively evaluated for impairment | 886 | 672 | |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Commercial real estate [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: individually evaluated for impairment | 4,960 | 5,065 | |
Ending balance | 695,702 | 608,482 | 464,326 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Commercial real estate [Member] | Performing Financial Instruments [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: collectively evaluated for impairment | 679,087 | 453,592 | |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | Commercial real estate [Member] | Nonperforming Financial Instruments [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: collectively evaluated for impairment | 11,655 | 5,669 | |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: individually evaluated for impairment | 3,848 | 3,816 | |
Ending balance | 116,104 | 125,700 | 72,227 |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | Performing Financial Instruments [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: collectively evaluated for impairment | 110,730 | 67,312 | |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Commercial and industrial other loans [Member] | Nonperforming Financial Instruments [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: collectively evaluated for impairment | 1,526 | 1,099 | |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Loans to individuals & overdrafts [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: individually evaluated for impairment | 196 | 255 | |
Ending balance | 4,529 | 8,009 | |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Loans to individuals & overdrafts [Member] | Performing Financial Instruments [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: collectively evaluated for impairment | 4,265 | 7,754 | |
Commercial Portfolio Segment [Member] | Other Loan [Member] | Loans to individuals & overdrafts [Member] | Nonperforming Financial Instruments [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: collectively evaluated for impairment | 68 | ||
Consumer Portfolio Segment [Member] | Real Estate Loan [Member] | Multi-family residential [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance | 86,159 | 82,508 | 70,731 |
Consumer Portfolio Segment [Member] | Real Estate Loan [Member] | Multi-family residential [Member] | Performing Financial Instruments [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: collectively evaluated for impairment | 85,140 | 69,845 | |
Consumer Portfolio Segment [Member] | Real Estate Loan [Member] | Multi-family residential [Member] | Nonperforming Financial Instruments [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: collectively evaluated for impairment | 1,019 | 886 | |
Residential Portfolio Segment [Member] | HELOC [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance | 56,247 | 53,806 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | 1- to- 4 family residential real estate loans [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: individually evaluated for impairment | 318 | 431 | |
Ending balance | 185,652 | $ 194,031 | 153,923 |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | 1- to- 4 family residential real estate loans [Member] | Performing Financial Instruments [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: collectively evaluated for impairment | 175,495 | 147,444 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | 1- to- 4 family residential real estate loans [Member] | Nonperforming Financial Instruments [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: collectively evaluated for impairment | 9,839 | 6,048 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | HELOC [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: individually evaluated for impairment | 435 | 750 | |
Ending balance | 56,247 | 43,816 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | HELOC [Member] | Performing Financial Instruments [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: collectively evaluated for impairment | 55,190 | 43,017 | |
Residential Portfolio Segment [Member] | Real Estate Loan [Member] | HELOC [Member] | Nonperforming Financial Instruments [Member] | |||
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Ending balance: collectively evaluated for impairment | $ 622 | $ 49 |
OTHER REAL ESTATE OWNED - Roll
OTHER REAL ESTATE OWNED - Roll forward (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Repossessed Assets [Abstract] | ||
Beginning balance | $ 2,172 | $ 3,533 |
Sales | (874) | |
Write-downs and loss on sale | 144 | |
Transfers | 526 | 204 |
Ending balance | $ 1,968 | $ 3,737 |
OTHER REAL ESTATE OWNED - Addit
OTHER REAL ESTATE OWNED - Additional information (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Dec. 31, 2019 |
Repossessed Assets [Abstract] | ||||
Real Estate Acquired Through Foreclosure | $ 1,968 | $ 2,172 | $ 3,737 | $ 3,533 |
OTHER REAL ESTATE OWNED - Mortg
OTHER REAL ESTATE OWNED - Mortgage loans in process of foreclosure (Details) $ in Thousands | Mar. 31, 2021USD ($)loan | Mar. 31, 2020USD ($)loan |
Banking and Thrift, Other Disclosures [Abstract] | ||
Mortgage Loans in Process of Foreclosure, Loans, Number | loan | 1 | 2 |
Mortgage Loans in Process of Foreclosure, Amount | $ | $ 748 | $ 428 |
LEASES - Terms (Details)
LEASES - Terms (Details) | 3 Months Ended |
Mar. 31, 2021 | |
Lessee, Lease, Description [Line Items] | |
Lessee, Operating Lease, Month-to-month, Expiration Term, Maximum | 1 year |
Minimum [Member] | |
Lessee, Lease, Description [Line Items] | |
Lessee, Operating Lease, Remaining Lease Term | 1 year |
Lessee, Operating Lease, Renewal Term | 1 year |
Maximum [Member] | |
Lessee, Lease, Description [Line Items] | |
Lessee, Operating Lease, Remaining Lease Term | 15 years |
Lessee, Operating Lease, Options to Extend | 5 years |
Lessee, Operating Lease, Renewal Term | 25 years |
LEASES - Practical expedients (
LEASES - Practical expedients (Details) | Mar. 31, 2021 |
LEASES | |
Lease, Practical Expedient, Lessor Single Lease Component | true |
LEASES - Lease cost (Details)
LEASES - Lease cost (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
LEASES | ||
Operating lease cost | $ 315 | $ 308 |
LEASES - Supplemental cash flow
LEASES - Supplemental cash flow information (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
LEASES | ||
Operating cash flows from operating leases | $ 315 | $ 308 |
Right-of-use assets obtained in exchange for lease obligations | $ 8,358 | $ 8,414 |
LEASES - Weighted average lease
LEASES - Weighted average lease terms and discount rates (Details) | Mar. 31, 2021 | Mar. 31, 2020 |
LEASES | ||
Weighted Average Remaining Lease Term - Operating leases | 11 years 7 months 6 days | 6 years 8 months 12 days |
Weighted Average Discount Rate - Operating leases | 6.00% | 6.00% |
LEASES - Future minimum lease p
LEASES - Future minimum lease payments (Details) $ in Thousands | Mar. 31, 2021USD ($) |
Lessee, Operating Lease, Liability, Payment, Due [Abstract] | |
2021 | $ 563 |
2022 | 816 |
2023 | 796 |
2024 | 769 |
2025 | 842 |
Thereafter | 5,562 |
Total lease payments | $ 9,348 |
LEASES - Gross difference (Deta
LEASES - Gross difference (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Operating Lease Liabilities, Gross Difference, Amount [Abstract] | ||
Total lease payments | $ 9,348 | |
Amounts representing interest | (582) | |
Present Value of Net Future Minimum Lease Payments | $ 8,766 | $ 8,930 |