Parke Bancorp (PKBK) 10-Q 8 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Nov. 08, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	000-51338
Entity Registrant Name	PARKE BANCORP, INC.
Entity Incorporation, State or Country Code	NJ
Entity Tax Identification Number	65-1241959
Entity Address, Address Line One	601 Delsea Drive
Entity Address, City or Town	Washington Township
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08080
City Area Code	856
Local Phone Number	256-2500
Title of 12(b) Security	Common Stock, par value $0.10 per share
Trading Symbol	PKBK
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		11,894,121
Entity Central Index Key	0001315399
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Assets
Cash and due from banks	$ 21,910,000	$ 20,571,000
Interest bearing deposits with banks	601,915,000	438,030,000
Cash and cash equivalents	623,825,000	458,601,000
Investment securities available for sale, at fair value	14,673,000	19,882,000
Investment securities held to maturity (fair value of $10,078 at September 30, 2021 and $1,530 at December 31, 2020)	9,962,000	1,224,000
Total investment securities	24,635,000	21,106,000
Loans held for sale	0	200,000
Loans, net of unearned income	1,473,816,000	1,565,807,000
Less: Allowance for loan losses	(29,838,000)	(29,698,000)
Net loans	1,443,978,000	1,536,109,000
Accrued interest receivable	7,753,000	8,772,000
Premises and equipment, net	6,370,000	6,698,000
Restricted stock	5,729,000	7,542,000
Bank owned life insurance (BOLI)	27,431,000	27,002,000
Deferred tax asset	8,651,000	8,611,000
Other	7,276,000	3,681,000
Total assets	2,155,648,000	2,078,322,000
Deposits
Noninterest-bearing deposits	542,596,000	428,860,000
Interest-bearing deposits	1,238,644,000	1,163,583,000
Total deposits	1,781,240,000	1,592,443,000
FHLBNY borrowings	91,150,000	134,650,000
FRB advances	0	90,026,000
Subordinated debentures	42,684,000	42,542,000
Accrued interest payable	1,248,000	2,338,000
Other	13,639,000	13,726,000
Total liabilities	1,929,961,000	1,875,725,000
Equity
Preferred stock, 1,000,000 shares authorized, $1,000 liquidation value Series B non-cumulative convertible; 470 shares and 480 shares outstanding at September 30, 2021 and December 31, 2020, respectively	470,000	480,000
Common stock, $0.10 par value; authorized 15,000,000 shares; Issued: 12,178,497 shares and 12,136,567 shares at September 30, 2021 and December 31, 2020, respectively	1,218,000	1,214,000
Additional paid-in capital	135,383,000	134,989,000
Retained earnings	89,853,000	66,794,000
Accumulated other comprehensive income	347,000	463,000
Treasury stock, 284,522 shares at September 30, 2021 and Dec. 31, 2020, at cost	(3,015,000)	(3,015,000)
Total shareholders’ equity	224,256,000	200,925,000
Noncontrolling interest in consolidated subsidiaries	1,431,000	1,672,000
Total equity	225,687,000	202,597,000
Total liabilities and equity	$ 2,155,648,000	$ 2,078,322,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets
Investment securities held to maturity, fair value	$ 10,078	$ 1,530
Equity
Preferred stock, authorized (in shares)	1,000,000	1,000,000
Preferred stock, liquidation value per share (in dollars per share)	$ 1,000	$ 1,000
Preferred stock, outstanding (in shares)	470	480
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, authorized (in shares)	15,000,000	15,000,000
Common stock, issued (in shares)	12,178,497	12,136,567
Treasury stock, shares (in shares)	284,522	284,522

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Interest income:
Interest and fees on loans	$ 20,211	$ 20,521	$ 61,502	$ 60,988
Interest and dividends on investments	170	260	552	797
Interest on deposits with banks	199	92	453	1,088
Total interest income	20,580	20,873	62,507	62,873
Interest expense:
Interest on deposits	2,356	4,165	7,654	14,375
Interest on borrowings	743	1,268	2,482	2,968
Total interest expense	3,099	5,433	10,136	17,343
Net interest income	17,481	15,440	52,371	45,530
Provision for loan losses	0	2,400	500	5,796
Net interest income after provision for loan losses	17,481	13,040	51,871	39,734
Non-interest income
Service fees on deposit accounts	1,350	520	4,173	1,602
Gain on sale of SBA loans	56	0	180	0
Other loan fees	403	206	998	612
Bank owned life insurance income	146	150	429	443
Net gain (loss) on sale and valuation adjustment of OREO	0	(195)	51	(348)
Other	240	60	693	346
Total non-interest income	2,195	741	6,524	2,655
Non-interest expense
Compensation and benefits	2,281	2,440	7,360	7,674
Professional services	998	400	2,740	1,151
Occupancy and equipment	623	531	1,773	1,529
Data processing	303	344	986	969
FDIC insurance and other assessments	261	287	833	581
OREO expense	72	80	199	258
Other operating expense	890	750	3,026	2,401
Total non-interest expense	5,428	4,832	16,917	14,563
Income before income tax expense	14,248	8,949	41,478	27,826
Income tax expense	3,705	2,306	10,584	7,171
Net income attributable to Company and noncontrolling interest	10,543	6,643	30,894	20,655
Less: Net income attributable to noncontrolling interest	(42)	(100)	(207)	(359)
Net income attributable to Company	10,501	6,543	30,687	20,296
Less: Preferred stock dividend	(7)	(7)	(21)	(22)
Net income available to common shareholders	$ 10,494	$ 6,536	$ 30,666	$ 20,274
Earnings per common share
Basic (in dollars per share)	$ 0.88	$ 0.55	$ 2.58	$ 1.71
Diluted (in dollars per share)	$ 0.87	$ 0.55	$ 2.53	$ 1.69
Weighted average common shares outstanding
Basic (in shares)	11,893,323	11,850,882	11,885,709	11,849,659
Diluted (in shares)	12,125,628	11,975,094	12,115,389	11,986,964

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 10,543	$ 6,643	$ 30,894	$ 20,655
Unrealized gains on investment securities, net of reclassification into income:
Unrealized (losses) gains on non-OTTI securities	(30)	(184)	(156)	590
Tax impact on unrealized gain (loss)	8	45	40	(145)
Total unrealized (losses) gains on investment securities	(22)	(139)	(116)	445
Comprehensive income	10,521	6,504	30,778	21,100
Less: Comprehensive loss attributable to noncontrolling interests	(42)	(100)	(207)	(359)
Comprehensive income attributable to the Company	$ 10,479	$ 6,404	$ 30,571	$ 20,741

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Treasury Stock	Total Shareholders' Equity	Non-Controlling Interest
Beginning balance at Dec. 31, 2019	$ 179,424	$ 500	$ 1,213	$ 134,706	$ 44,143	$ 58	$ (3,015)	$ 177,605	$ 1,819
Beginning balance (in shares) at Dec. 31, 2019			12,132,855
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	20,655				20,296			20,296	359
Earnings distribution to non-controlling interest	(594)								(594)
Common stock options exercised (in shares)			845
Common stock options exercised	0
Preferred stock shares conversion	0	(20)	$ 1	19
Preferred stock shares conversion (in shares)			2,751
Other comprehensive loss	445					445		445
Stock compensation expense	195			195				195
Stock dividend (in shares)			(60)
Stock dividend	(3)			(1)	(2)			(3)
Dividend on preferred stock	(22)				(22)			(22)
Dividend on common stock	(5,689)				(5,689)			(5,689)
Ending balance at Sep. 30, 2020	194,411	480	$ 1,214	134,919	58,726	503	(3,015)	192,827	1,584
Ending balance (in shares) at Sep. 30, 2020			12,136,391
Beginning balance at Jun. 30, 2020	189,741	500	$ 1,213	134,830	54,087	642	(3,015)	188,257	1,484
Beginning balance (in shares) at Jun. 30, 2020			12,133,640
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	6,643				6,543			6,543	100
Preferred stock shares conversion	0	(20)	$ 1	19
Preferred stock shares conversion (in shares)			2,751
Other comprehensive loss	(139)					(139)		(139)
Stock compensation expense	70			70				70
Dividend on preferred stock	(7)				(7)			(7)
Dividend on common stock	(1,897)				(1,897)			(1,897)
Ending balance at Sep. 30, 2020	194,411	480	$ 1,214	134,919	58,726	503	(3,015)	192,827	1,584
Ending balance (in shares) at Sep. 30, 2020			12,136,391
Beginning balance at Dec. 31, 2020	202,597	480	$ 1,214	134,989	66,794	463	(3,015)	200,925	1,672
Beginning balance (in shares) at Dec. 31, 2020			12,136,567
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	30,894				30,687			30,687	207
Earnings distribution to non-controlling interest	(448)								(448)
Common stock options exercised (in shares)			40,555
Common stock options exercised	220		$ 4	216				220
Preferred stock shares conversion	0	(10)		10
Preferred stock shares conversion (in shares)			1,375
Other comprehensive loss	(116)					(116)		(116)
Stock compensation expense	168			168				168
Dividend on preferred stock	(21)				(21)			(21)
Dividend on common stock	(7,607)				(7,607)			(7,607)
Ending balance at Sep. 30, 2021	225,687	470	$ 1,218	135,383	89,853	347	(3,015)	224,256	1,431
Ending balance (in shares) at Sep. 30, 2021			12,178,497
Beginning balance at Jun. 30, 2021	217,011	470	$ 1,218	135,318	81,262	369	(3,015)	215,622	1,389
Beginning balance (in shares) at Jun. 30, 2021			12,177,765
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	10,543				10,501			10,501	42
Common stock options exercised (in shares)			732
Common stock options exercised	6			6				6
Other comprehensive loss	(22)					(22)		(22)
Stock compensation expense	59			59				59
Dividend on preferred stock	(7)				(7)			(7)
Dividend on common stock	(1,903)				(1,903)			(1,903)
Ending balance at Sep. 30, 2021	$ 225,687	$ 470	$ 1,218	$ 135,383	$ 89,853	$ 347	$ (3,015)	$ 224,256	$ 1,431
Ending balance (in shares) at Sep. 30, 2021			12,178,497

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash Flows from Operating Activities:
Net income	$ 30,894	$ 20,655
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	517	434
Provision for loan losses	500	5,796
Increase in value of bank-owned life insurance	(429)	(443)
Gain on sale of SBA loans	(177)	0
SBA loans originated for sale	(1,331)	0
Proceeds from sale of SBA loans originated for sale	1,508	0
Net (gain) loss on sale of OREO and valuation adjustments	(51)	348
Net accretion of purchase premiums and discounts on securities	36	0
Stock based compensation	168	195
Net changes in:
Increase in accrued interest receivable and other assets	(960)	(4,468)
Decrease in accrued interest payable and other accrued liabilities	(1,177)	(27)
Net cash provided by operating activities	29,498	22,490
Cash Flows from Investing Activities:
Repayments and maturities of investment securities available for sale	4,972	5,036
Purchases of investment securities	(8,693)	0
Net decrease (increase) in loans	90,020
Net decrease (increase) in loans		(153,881)
Purchases of bank premises and equipment	(47)	(240)
Proceeds from sale of OREO, net	245	3,812
Redemptions (purchase) of restricted stock	1,813	(102)
Net cash provided by (used) in investing activities	88,310	(145,375)
Cash Flows from Financing Activities:
Cash dividends	(7,628)	(5,541)
Earnings distribution to non-controlling interest	(447)	(594)
Proceeds from exercise of stock options	220	0
Net proceeds from issuing subordinated debt	0	29,052
Net decrease in FHLBNY and short-term borrowings	(43,500)	0
Net (decrease) increase in other borrowings	(90,026)	93,801
Net increase in noninterest-bearing deposits	113,736	162,568
Net increase in interest-bearing deposits	75,061	94,714
Net cash provided by financing activities	47,416	374,000
Net increase in cash and cash equivalents	165,224	251,115
Cash and Cash Equivalents, January 1,	458,601	191,607
Cash and Cash Equivalents, September 30,	623,825	442,722
Supplemental Disclosure of Cash Flow Information:
Interest paid	11,226	17,524
Income taxes paid	13,683	7,460
Non-cash Investing and Financing Items
Loans transferred to OREO	$ 1,811	$ 0

ORGANIZATION

ORGANIZATION	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Parke Bancorp, Inc. (the “Company, we, us, our”) is a bank holding company headquartered in Sewell, New Jersey. Through subsidiaries, the Company provides individuals, corporations and other businesses and institutions with commercial and retail banking services, principally loans and deposits. The Company was incorporated in January 2005 under the laws of the State of New Jersey for the sole purpose of becoming the holding company of Parke Bank (the "Bank"). The Bank is a commercial bank, which was incorporated on August 25, 1998, and commenced operations on January 28, 1999. The Bank is chartered by the New Jersey Department of Banking and Insurance and its deposits are insured by the Federal Deposit Insurance Corporation. The Bank maintains its principal office at 601 Delsea Drive, Sewell, New Jersey, and seven additional branch office locations; 501 Tilton Road, Northfield, New Jersey, 567 Egg Harbor Road, Washington Township, New Jersey, 67 East Jimmie Leeds Road, Galloway Township, New Jersey, 1150 Haddon Avenue, Collingswood, New Jersey, 1610 Spruce Street, Philadelphia, Pennsylvania, and 1032 Arch Street, Philadelphia, Pennsylvania.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Financial Statement Presentation: We prepared our consolidated financial statements in accordance with accounting principles generally accepted in the United States of America ("GAAP"). The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Parke Bank (including certain partnership interests). Also included are the accounts of Parke Direct Lending LLC ("PDL"), a joint venture formed in 2018 to originate short-term alternative real estate loan products. Parke Bank has a 51% ownership interest in the joint venture. Parke Capital Trust I, Parke Capital Trust II and Parke Capital Trust III are wholly-owned subsidiaries but are not consolidated as they do not meet the requirements for consolidation under applicable accounting guidance. We have eliminated inter-company balances and transactions. We have also reclassified certain prior year amounts to conform to the current year presentation, which did not have a material impact on our consolidated financial condition or results of operations. The accompanying interim financial statements should be read in conjunction with the annual financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The accompanying interim financial statements for the three and nine months ended September 30, 2021 and 2020 are unaudited. The balance sheet as of December 31, 2020, was derived from the audited financial statements. In the opinion of management, these financial statements include all normal and recurring adjustments necessary for a fair statement of the results for such interim periods. Results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of the results for the full year or any other period. Use of Estimates: The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term include the allowance for loan losses, the valuation of deferred income taxes, and the carrying value of other real estate owned ("OREO"). Recently Issued Accounting Pronouncements: During June 2016, the Financial Accounting Standard Board (FASB) issued accounting standards update ("ASU") 2016-13, Financial Instruments-Credit Losses. ASU 2016-13 (Topic 326) , replaces the incurred loss impairment methodology in current GAAP with an expected credit loss ("CECL") methodology and requires consideration of a broader range of information to determine credit loss estimates. Financial assets measured at amortized cost will be presented at the net amount expected to be collected by using an allowance for credit losses. Credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses, with such allowance limited to the amount by which fair value is below amortized cost. The ASU was amended in some aspects by subsequent Accounting Standards Updates. The guidance of the Financial Instruments-Credit Losses became effective for public entities except small reporting companies ("SRCs") for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. For all entities, early adoption will continue to be allowed. As a small reporting company, CECL is effective for fiscal years beginning after December 15, 2022. The Company is currently evaluating the impact of this new guidance on its consolidated financial statements. In March 2020, the FASB issued ASU 2020-3, Codification Improvements to Financial Instruments . ASU 2020-3 improves various financial instruments topics in the Accounting Standard Codification, such as: fair value option, applicability of portfolio exception in Topic 820 to nonfinancial items, disclosures for depository and lending institutions, etc. The confirming amendments are effective upon issuance of this Update for public entities. The amendments related to other issues are effective on various dates depending on the affects the guidance in the amendments in Accounting Standards Updates. The Company has adopted certain items in the guidance and is currently evaluating the impact of the other areas of the guidance and doesn't expect the adoption of the ASU have or will have a material impact to our consolidated financial statements. In March 2020, the FASB issued ASU 2020-4, Reference Rate Reform - Facilitation of the Effects of Reference Rate Reform on Financial Reporting. ASU 2020-4 (Topic 848) provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The ASU is effective for all entities as of March 12, 2020 through December 31, 2022. The Company is currently evaluating the impact of this new guidance on its consolidated financial statements.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	9 Months Ended
	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	INVESTMENT SECURITIES The following is a summary of the Company's investments in available for sale and held to maturity securities as of September 30, 2021 and December 31, 2020: As of September 30, 2021 Amortized Gross Gross Fair value (Dollars in thousands) Available for sale: Corporate debt obligations $ 500 $ — $ — $ 500 Residential mortgage-backed securities 13,692 497 29 14,160 Collateralized mortgage obligations 13 — — 13 Total available for sale $ 14,205 $ 497 $ 29 $ 14,673 Held to maturity: Residential mortgage-backed securities $ 6,215 $ — $ 85 $ 6,130 States and political subdivisions 3,747 248 47 3,948 Total held to maturity $ 9,962 $ 248 $ 132 $ 10,078 As of December 31, 2020 Amortized Gross Gross Fair value (Dollars in thousands) Available for sale: Corporate debt obligations $ 500 $ — $ — $ 500 Residential mortgage-backed securities 18,736 646 23 19,359 Collateralized mortgage obligations 22 1 — 23 Total available for sale $ 19,258 $ 647 $ 23 $ 19,882 Held to maturity: States and political subdivisions $ 1,224 $ 306 $ — $ 1,530 The amortized cost and fair value of debt securities classified as available for sale and held to maturity, by contractual maturity as of September 30, 2021 are as follows: Amortized Fair (Dollars in thousands) Available for sale: Due within one year $ 19 $ 18 Due after one year through five years 500 500 Due after five years through ten years 8,011 8,252 Due after ten years 5,675 5,903 Total available for sale $ 14,205 $ 14,673 Held to maturity: Due within one year $ — $ — Due after one year through five years — — Due after five years through ten years 1,268 1,516 Due after ten years 8,694 8,562 Total held to maturity $ 9,962 $ 10,078 Expected maturities may differ from contractual maturities because the issuers of certain debt securities do have the right to call or prepay their obligations without any penalty. The Company did not sell any securities during the three and nine months ended September 30, 2021. The following tables show the gross unrealized losses and fair value of the Company's investments which are aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2021 and December 31, 2020: As of September 30, 2021 Less Than 12 Months 12 Months or Greater Total Description of Securities Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousand) Available for sale: Residential mortgage-backed securities $ 190 $ — $ 1,558 $ 29 $ 1,748 $ 29 Total available for sale $ 190 $ — $ 1,558 $ 29 $ 1,748 $ 29 Held to maturity: Residential mortgage-backed securities $ 6,130 $ 85 $ — $ — $ 6,130 $ 85 States and political subdivisions 2,432 47 — — 2,432 47 Total held to maturity $ 8,562 $ 132 $ — $ — $ 8,562 $ 132 As of December 31, 2020 Less Than 12 Months 12 Months or Greater Total Description of Securities Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Available for sale: Residential mortgage-backed securities $ 2,142 $ 20 $ 215 $ 3 $ 2,357 $ 23 Total available for sale $ 2,142 $ 20 $ 215 $ 3 $ 2,357 $ 23 Other Than Temporarily Impaired Debt Securities (OTTI) On at least a quarterly basis, we review all debt securities that are in an unrealized loss position for OTTI. An investment security is deemed impaired if the fair value of the investment is less than its amortized cost. Amortized cost includes adjustments (if any) made to the cost basis of an investment for accretion, amortization, and previous other-than-temporary impairments. After an investment security is determined to be impaired, we evaluate whether the decline in value is other-than-temporary. Estimating recovery of the amortized cost basis of a debt security is based upon an assessment of the cash flows expected to be collected. If the present value of the cash flows expected to be collected, discounted at the security’s effective yield, is less than the security’s amortized cost, OTTI is considered to have occurred. For a debt security for which there has been a decline in the fair value below the amortized cost basis, if we intend to sell the security, or if it is more likely than not we will be required to sell the security before recovery of the amortized cost basis, an OTTI write-down is recognized in earnings equal to the entire difference between the amortized cost basis and fair value of the security. For debt securities that are considered OTTI and that we do not intend to sell and will not be required to sell prior to recovery of our amortized cost basis, we separate the amount of the impairment into the amount that is credit related (credit loss component) and the amount due to all other factors. The credit loss component is recognized in earnings and is the difference between the security’s amortized cost basis and the present value of its expected future cash flows discounted at the security’s effective yield. The remaining difference between the security’s fair value and the present value of expected future cash flows is due to factors that are not credit-related and, therefore, is recognized in other comprehensive income. We have a process in place to identify debt securities that could potentially have a credit impairment that is other than temporary. This process involves monitoring late payments, pricing levels, downgrades by rating agencies, key financial ratios, financial statements, revenue forecasts and cash flow projections as indicators of credit issues. We consider relevant facts and circumstances in evaluating whether a credit or interest rate-related impairment of a security is other than temporary. Relevant facts and circumstances considered include: (1) the extent and length of time the fair value has been below cost; (2) the reasons for the decline in value; (3) the financial position and access to capital of the issuer, including the current and future impact of any specific events; (4) any change in rating agencies’ credit ratings at evaluation date from acquisition date and any likely imminent action; (5) for asset-backed securities, the credit performance of the underlying collateral, including delinquency rates, level of non-performing assets, cumulative losses to date, collateral value and the remaining credit enhancement compared with expected credit losses. The Company’s unrealized loss for the debt securities is comprised of 5 securities in the less than 12 months loss position and 3 securities in the 12 months or greater loss position at September 30, 2021, and 2 securities in the less than 12 months loss position and 2 securities in the 12 months or greater loss position at December 31, 2020. The mortgage-backed securities that had unrealized losses were issued or guaranteed by the US government or US government sponsored entities. The unrealized losses associated with those mortgage-backed securities are generally driven by changes in interest rates and are not due to credit losses given the explicit or implicit guarantees provided by the U.S. government. Because the Company does not intend to sell the securities and it is not more likely than not that the Company will be required to sell these investments before recovery of their amortized cost basis, the Company does not consider the unrealized loss in these securities to be OTTI at September 30, 2021.

LOANS AND ALLOWANCE FOR LOAN LO

LOANS AND ALLOWANCE FOR LOAN LOSSES	9 Months Ended
	Sep. 30, 2021
Receivables [Abstract]
LOANS AND ALLOWANCE FOR LOAN LOSSES	90 Days and Accruing (Dollars in Thousands) Commercial and Industrial $ — $ 96 $ 47 $ 143 $ 66,134 $ 66,277 $ — Construction — — 1,139 1,139 170,012 171,151 — Real Estate Mortgage: Commercial – Owner Occupied — — 2,170 2,170 125,182 127,352 — Commercial – Non-owner Occupied — — 309 309 311,588 311,897 — Residential – 1 to 4 Family — 163 557 720 711,188 711,908 — Residential – Multifamily — — — — 76,522 76,522 — Consumer — — 178 178 8,531 8,709 — Total Loans $ — $ 259 $ 4,400 $ 4,659 $ 1,469,157 $ 1,473,816 $ — December 31, 2020 30-59 60-89 Greater Total Past Current Total Loans > 90 Days and Accruing (Dollars in thousands) Commercial and Industrial $ — $ — $ 50 $ 50 $ 121,758 $ 121,808 $ — Construction — — 1,365 1,365 209,648 211,013 — Real Estate Mortgage: Commercial – Owner Occupied — 1,171 5,521 6,692 125,515 132,207 — Commercial – Non-owner Occupied — 872 69 941 323,899 324,840 — Residential – 1 to 4 Family — 662 1,669 2,331 668,496 670,827 — Residential – Multifamily — — — — 94,748 94,748 — Consumer 45 — 55 100 10,264 10,364 — Total Loans $ 45 $ 2,705 $ 8,729 $ 11,479 $ 1,554,328 $ 1,565,807 $ — Allowance For Loan and Lease Losses (ALLL) We maintain the ALLL at a level that we believe to be appropriate to absorb estimated probable credit losses incurred in the loan portfolios as of the balance sheet date. We established our allowance in accordance with guidance provided in Accounting Standard Codification ("ASC") - Contingencies ("ASC 450") and Receivables ("ASC 310"). The allowance for loan and lease losses represents management’s estimate of probable losses inherent in the Company’s lending activities excluding loans accounted for under fair value. The allowance for loan losses is maintained through charges to the provision for loan losses in the Consolidated Statements of Income as losses are estimated to have occurred. Loans or portions thereof that are determined to be uncollectible are charged against the allowance, and subsequent recoveries, if any, are credited to the allowance. The Company performs periodic reviews of its loan and lease portfolios to identify credit risks and to assess the overall collectability of those portfolios. The Company's allowance for loan losses includes a general component and an asset-specific component. The asset-specific component of the allowance relates to loans considered to be impaired, which includes performing troubled debt restructurings (“TDRs”) as well as nonperforming loans. To determine the asset-specific component of the allowance, the loans are evaluated individually based on the borrower's ability to repay amounts owed, collateral, relative risk grade of the loans, and other factors given current events and conditions. The Company generally measures the asset-specific allowance as the difference between the net realizable value of loan collateral or present value of expected cash flow and the recorded investment of a loan. The general component of the allowance evaluates the impairments of pools of the loan portfolio collectively. It incorporates a historical valuation allowance and general valuation allowance. The historical loss experience is measured by type of credit and internal risk grade, loss severity, specific homogeneous risk pools. A historical loss ratio and valuation allowance are established for each pool of similar loans and updated periodically based on actual charge-off experience and current events. The general valuation allowance is based on general economic conditions and other qualitative risk factors both internal and external to the Company. It is generally determined by evaluating, among other things: (i) the experience, ability and effectiveness of the Bank's lending management and staff; (ii) the effectiveness of the Bank's lending policies, procedures and internal controls;(iii) volume and severity of loan credit quality; (iv) nature and volume of portfolio and term of loans (v) the composition and concentrations of credit; (vi) the effectiveness of the internal loan review system; and (vii) national and local economic trends and conditions, and industry conditions. Management evaluates the degree of risk that each one of these components has on the quality of the loan portfolio on a quarterly basis. Each component is determined to have either a high, high-moderate, moderate, low-moderate or low degree of risk. The results are then input into a "general allocation matrix" to determine an appropriate general valuation allowance. The process of determining the level of the allowance for loan and lease losses requires a high degree of estimate and judgment. It is reasonably possible that actual outcomes may differ from our estimates. The following tables present the information regarding the allowance for loan and lease losses and associated loan data: Real Estate Mortgage Commercial and Industrial Construction Commercial Owner Occupied Commercial Non-owner Occupied Residential 1 to 4 Family Residential Multifamily Consumer Total Allowance for loan losses (Dollars in thousands) Three months ended September 30, 2021 June 30, 2021 $ 312 $ 3,482 $ 3,502 $ 8,514 $ 12,883 $ 1,250 $ 125 $ 30,068 Charge-offs — (226) — — (49) — — (275) Recoveries 2 — 38 4 — — — 44 Provisions (benefits) 95 (349) (105) (350) 878 (166) (2) 1 Ending Balance at September 30, 2021 $ 409 $ 2,907 $ 3,435 $ 8,168 $ 13,712 $ 1,084 $ 123 $ 29,838 Allowance for loan losses Nine months ended September 30, 2021 December 31, 2020 $ 492 $ 3,359 $ 3,078 $ 8,398 $ 12,595 $ 1,639 $ 137 $ 29,698 Charge-offs — (226) (153) — (49) — — (428) Recoveries 15 — 49 4 — — — 68 Provisions (benefits) (98) (226) 461 (234) 1,166 (555) (14) 500 Ending Balance at September 30, 2021 $ 409 $ 2,907 $ 3,435 $ 8,168 $ 13,712 $ 1,084 $ 123 $ 29,838 Allowance for loan losses Individually evaluated for impairment $ 9 $ 300 $ 6 $ 235 $ 63 $ — $ — $ 613 Collectively evaluated for impairment 400 2,607 3,429 7,933 13,649 1,084 123 29,225 Ending Balance at September 30, 2021 $ 409 $ 2,907 $ 3,435 $ 8,168 $ 13,712 $ 1,084 $ 123 $ 29,838 Loans Individually evaluated for impairment $ 47 $ 1,139 $ 2,443 $ 5,625 $ 1,022 $ — $ 178 $ 10,454 Collectively evaluated for impairment 66,230 170,012 124,909 306,272 710,886 76,522 8,531 1,463,362 Ending Balance at September 30, 2021 $ 66,277 $ 171,151 $ 127,352 $ 311,897 $ 711,908 $ 76,522 $ 8,709 $ 1,473,816 Real Estate Mortgage Commercial and Industrial Construction Commercial Owner Occupied Commercial Non-owner Occupied Residential 1 to 4 Family Residential Multifamily Consumer Total Allowance for loan losses (Dollars in thousands) Three months ended September 30, 2020 June 30, 2020 $ 987 $ 3,660 $ 2,414 $ 6,181 $ 10,766 $ 1,058 $ 162 $ 25,228 Charge-offs — — — — (54) — — (54) Recoveries 11 — 1 2 — — — 14 Provisions (benefits) (385) 1,284 421 648 (65) 511 (14) 2,400 Ending Balance at September 30, 2020 $ 613 $ 4,944 $ 2,836 $ 6,831 $ 10,647 $ 1,569 $ 148 $ 27,588 Allowance for loan losses Nine months ended September 30, 2020 December 31, 2019 $ 964 $ 2,807 $ 2,023 $ 5,860 $ 9,151 $ 819 $ 187 $ 21,811 Charge-offs — — — — (54) — — (54) Recoveries 18 — 9 8 — — — 35 Provisions (benefits) (369) 2,137 804 963 1,550 750 (39) 5,796 Ending Balance at September 30, 2020 $ 613 $ 4,944 $ 2,836 $ 6,831 $ 10,647 $ 1,569 $ 148 $ 27,588 Allowance for loan losses Individually evaluated for impairment $ 78 $ 334 $ 257 $ 377 $ 61 $ — $ — $ 1,107 Collectively evaluated for impairment 535 4,610 2,579 6,454 10,586 1,569 148 26,481 Ending Balance at September 30, 2020 $ 613 $ 4,944 $ 2,836 $ 6,831 $ 10,647 $ 1,569 $ 148 $ 27,588 Loans Individually evaluated for impairment $ 116 $ 4,990 $ 7,447 $ 10,187 $ 2,855 $ — $ — $ 25,595 Collectively evaluated for impairment 126,392 258,884 129,050 290,847 648,039 84,819 10,985 1,549,016 Ending Balance at September 30, 2020 $ 126,508 $ 263,874 $ 136,497 $ 301,034 $ 650,894 $ 84,819 $ 10,985 $ 1,574,611 Impaired Loans A loan is considered impaired when, based on the current information and events, it is probable that the Company will be unable to collect the payments of principal and interest as of the date such payments were due. Loans are placed on non-accrual status when, in management's opinion, the borrower may be unable to meet payment obligations as they become due, as well as when a loan is 90 days past due, unless the loan is well secured and in the process of collection, as required by regulatory provisions. When interest accrual is discontinued, all unpaid accrued interest is reversed. Interest income is subsequently recognized only to the extent cash payments are received in excess of principal due. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. All our impaired loans are assessed for recoverability based on an independent third-party full appraisal to determine the net realizable value (“NRV”) based on the fair value of the underlying collateral, less cost to sell and other costs or the present value of discounted cash flows in the case of certain impaired loans that are not collateral dependent. The following tables provide further detail on impaired loans and the associated ALLL at September 30, 2021 and December 31, 2020: September 30, 2021 Recorded Unpaid Related (Dollars in thousands) With no related allowance recorded: Commercial and Industrial $ 38 $ 38 $ — Construction — — — Real Estate Mortgage: Commercial – Owner Occupied 2,238 2,238 — Commercial – Non-owner Occupied 173 173 — Residential – 1 to 4 Family 488 621 — Residential – Multifamily — — — Consumer 178 178 — 3,115 3,248 — With an allowance recorded: Commercial and Industrial 9 17 9 Construction 1,139 5,856 300 Real Estate Mortgage: Commercial – Owner Occupied 205 205 6 Commercial – Non-owner Occupied 5,452 5,452 235 Residential – 1 to 4 Family 534 534 63 Residential – Multifamily — — — Consumer — — — 7,339 12,064 613 Total: Commercial and Industrial 47 55 9 Construction 1,139 5,856 300 Real Estate Mortgage: Commercial – Owner Occupied 2,443 2,443 6 Commercial – Non-owner Occupied 5,625 5,625 235 Residential – 1 to 4 Family 1,022 1,155 63 Residential – Multifamily — — — Consumer 178 178 — $ 10,454 $ 15,312 $ 613 December 31, 2020 Recorded Unpaid Related (Dollars in thousands) With no related allowance recorded: Commercial and Industrial $ 37 $ 37 $ — Construction — — — Real Estate Mortgage: Commercial – Owner Occupied 2,853 2,853 — Commercial – Non-owner Occupied 69 69 — Residential – 1 to 4 Family 899 899 — Residential – Multifamily 55 55 — Consumer — — — 3,913 3,913 — With an allowance recorded: Commercial and Industrial 12 19 12 Construction 4,840 9,330 301 Real Estate Mortgage: Commercial – Owner Occupied 2,882 2,882 200 Commercial – Non-owner Occupied 10,040 10,040 350 Residential – 1 to 4 Family 976 976 141 Residential – Multifamily — — — Consumer — — — 18,750 23,247 1,004 Total: Commercial and Industrial 49 56 12 Construction 4,840 9,330 301 Real Estate Mortgage: Commercial – Owner Occupied 5,735 5,735 200 Commercial – Non-owner Occupied 10,109 10,109 350 Residential – 1 to 4 Family 1,875 1,875 141 Residential – Multifamily 55 55 — Consumer — — — $ 22,663 $ 27,160 $ 1,004 The following table presents by loan portfolio class, the average recorded investment and interest income recognized on impaired loans for the three and nine months ended September 30, 2021 and 2020: Three Months Ended September 30, 2021 2020 Average Interest Average Interest (Dollars in thousands) Commercial and Industrial $ 48 $ — $ 221 $ 1 Construction 1,290 — 4,990 40 Real Estate Mortgage: Commercial – Owner Occupied 2,446 3 7,515 14 Commercial – Non-owner Occupied 5,651 123 10,240 158 Residential – 1 to 4 Family 1,332 8 2,994 33 Residential – Multifamily — — — — Consumer 178 2 — — Total $ 10,945 $ 136 $ 25,960 $ 246 Nine Months Ended September 30, 2021 2020 Average Interest Average Interest (Dollars in thousands) Commercial and Industrial $ 48 $ 1 $ 281 $ 13 Construction 1,309 — 5,020 119 Real Estate Mortgage: Commercial – Owner Occupied 2,447 10 6,167 95 Commercial – Non-owner Occupied 5,662 256 10,302 312 Residential – 1 to 4 Family 1,377 24 2,314 87 Residential – Multifamily — — — — Consumer 178 4 — — Total $ 11,021 $ 295 $ 24,084 $ 626 Troubled debt restructuring (TDRs) We reported performing TDR loans (not reported as non-accrual loans) of $6.1 million and $13.9 million, respectively, at September 30, 2021 and December 31, 2020. Nonperforming TDR loans were zero and $274,000 at September 30, 2021 and December 31, 2020, respectively. There were no new loans modified as a TDR and no additional commitments to lend additional funds to debtors whose loans have been modified in TDRs for the three and nine months ended September 30, 2021 and the year ended December 31, 2020, respectively. Under Interagency Statement ("Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus (Revised)") issued by Federal banking agencies, financial institutions generally do not need to categorize COVID-19-related modifications as TDRs. As a result, loans that have been restructured for short term deferrals through our loan deferral program for COVID-19 related hardships and meet certain other criteria specified in the Interagency Statement are not categorized as TDRs. A TDR is a loan the terms of which have been restructured in a manner that grants a concession to a borrower experiencing financial difficulty. TDRs result from our loss mitigation activities that include rate reductions, extension of maturity, or a combination of both, which are intended to minimize economic loss and to avoid foreclosure or repossession of collateral. TDRs are classified as impaired loans and are included in the impaired loan disclosures. TDRs are also evaluated to determine whether they should be placed on non-accrual status. Once a loan becomes a TDR, it will continue to be reported as a TDR until it is repaid in full, foreclosed, sold or it meets the criteria to be removed from TDR status. At the time a loan is modified in a TDR, we consider the following factors to determine whether the loan should accrue interest: • Whether there is a period of current payment history under the current terms, typically 6 months; • Whether the loan is current at the time of restructuring; and • Whether we expect the loan to continue to perform under the restructured terms with a debt coverage ratio that complies with the Bank’s credit underwriting policy of 1.25 times debt service. TDRs are generally included in nonaccrual loans and may return to performing status after a minimum of six consecutive monthly payments under restructured terms and also meeting other performance indicators. We review the financial performance of the borrower over the past year to be reasonably assured of repayment and performance according to the modified terms. This review consists of an analysis of the borrower’s historical results; the borrower’s projected results over the next four quarters; and current financial information of the borrower and any guarantors. The projected repayment source needs to be reliable, verifiable, quantifiable and sustainable. At the time of restructuring, the amount of the loan principal for which we are not reasonably assured of repayment is charged-off, but not forgiven. All TDRs are also reviewed quarterly to determine the amount of any impairment. The nature and extent of impairment of TDRs, including those that have experienced a subsequent default, is considered in the determination of an appropriate level of allowance for loan losses. For TDR loans, we had specific reserves of $261,006 and $420,000 in the allowance at September 30, 2021 and December 31, 2020, respectively. Some loan modifications classified as TDRs may not ultimately result in the full collection of principal and interest, as modified, and result in potential incremental losses. These potential incremental losses have been factored into our overall allowance for loan losses estimate. Credit Quality Indicators : As part of the on-going monitoring of the credit quality of the Company's loan portfolio, management tracks certain credit quality indicators including trends related to the risk grades of loans, the level of classified loans, net charge-offs, nonperforming loans (see details above) and the general economic conditions in the region. The Company utilizes a risk grading matrix to assign a risk grade to each of its loans. Loans are graded on a scale of 1 to 7. Grades 1 through 4 are considered “Pass”. A description of the general characteristics of the seven risk grades is as follows: 1. Good : Borrower exhibits the strongest overall financial condition and represents the most creditworthy profile. 2. Satisfactory (A) : Borrower reflects a well-balanced financial condition, demonstrates a high level of creditworthiness and typically will have a strong banking relationship with the Bank. 3. Satisfactory (B) : Borrower exhibits a balanced financial condition and does not expose the Bank to more than a normal or average overall amount of risk. Loans are considered fully collectable. 4. Watch List : Borrower reflects a fair financial condition, but there exists an overall greater than average risk. Risk is deemed acceptable by virtue of increased monitoring and control over borrowings. Probability of timely repayment is present. 5. Other Assets Especially Mentioned (OAEM) : Financial condition is such that assets in this category have a potential weakness or pose unwarranted financial risk to the Bank even though the asset value is not currently impaired. The asset does not currently warrant adverse classification but if not corrected could weaken and could create future increased risk exposure. Includes loans that require an increased degree of monitoring or servicing as a result of internal or external changes. 6. Substandard : This classification represents more severe cases of #5 (OAEM) characteristics that require increased monitoring. Assets are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Assets are inadequately protected by the current net worth and paying capacity of the borrower or of the collateral. Asset has a well-defined weakness or weaknesses that impairs the ability to repay debt and jeopardizes the timely liquidation or realization of the collateral at the asset’s net book value. 7. Doubtful : Assets which have all the weaknesses inherent in those assets classified #6 (Substandard) but the risks are more severe relative to financial deterioration in capital and/or asset value; accounting/evaluation techniques may be questionable and the overall possibility for collection in full is highly improbable. Borrowers in this category require constant monitoring, are considered work-out loans and present the potential for future loss to the Bank. An analysis of the credit risk profile by internally assigned grades as of September 30, 2021 and December 31, 2020 is as follows: At September 30, 2021 Pass OAEM Substandard Doubtful Total (Dollars in thousands) Commercial and Industrial $ 66,230 $ — $ 47 $ — $ 66,277 Construction 170,012 — 1,139 — 171,151 Real Estate Mortgage: Commercial – Owner Occupied 122,153 3,029 2,170 — 127,352 Commercial – Non-owner Occupied 297,208 14,380 309 — 311,897 Residential – 1 to 4 Family 710,810 449 649 — 711,908 Residential – Multifamily 76,522 — — — 76,522 Consumer 8,531 — 178 — 8,709 Total $ 1,451,466 $ 17,858 $ 4,492 $ — $ 1,473,816 At December 31, 2020 Pass OAEM Substandard Doubtful Total (Dollars in thousands) Commercial and Industrial $ 121,715 $ 43 $ 50 $ — $ 121,808 Construction 209,648 — 1,365 — 211,013 Real Estate Mortgage: Commercial – Owner Occupied 123,657 3,029 5,521 — 132,207 Commercial – Non-owner Occupied 324,649 — 191 — 324,840 Residential – 1 to 4 Family 668,593 462 1,772 — 670,827 Residential – Multifamily 94,748 — — — 94,748 Consumer 10,309 — 55 — 10,364 Total $ 1,553,319 $ 3,534 $ 8,954 $ — $ 1,565,807 " id="sjs-B4" xml:space="preserve">LOANS AND ALLOWANCE FOR LOAN LOSSES At September 30, 2021 and December 31, 2020, the Company had $1.47 billion and $1.57 billion, respectively, in loans receivable outstanding. Outstanding balances include a total net increase of $1.2 million and net reduction of $0.2 million at September 30, 2021 and December 31, 2020, respectively, for unearned income, net deferred loan fees, and unamortized discounts and premiums. We had zero and $200,000 in loans held for sale at September 30, 2021 and December 31, 2020, respectively. Also, at September 30, 2021 and December 31, 2020, our commercial and industrial loan portfolio includes $37.0 million and $91.2 million, respectively, of loans to small businesses through the Paycheck Protection Program ("SBA PPP" loans), which is a loan designed by the Federal government to provide a direct incentive for small businesses to keep their workers on the payroll. The portfolios of loans receivable at September 30, 2021 and December 31, 2020, consist of the following: September 30, 2021 December 31, 2020 Amount Amount (Dollars in thousands) Commercial and Industrial $ 66,277 $ 121,808 Construction 171,151 211,013 Real Estate Mortgage: Commercial – Owner Occupied 127,352 132,207 Commercial – Non-owner Occupied 311,897 324,840 Residential – 1 to 4 Family 711,908 670,827 Residential – Multifamily 76,522 94,748 Consumer 8,709 10,364 Total Loans $ 1,473,816 $ 1,565,807 An age analysis of past due loans by class at September 30, 2021 and December 31, 2020 is as follows: September 30, 2021 30-59 60-89 Greater Total Past Current Total Loans > 90 Days and Accruing (Dollars in Thousands) Commercial and Industrial $ — $ 96 $ 47 $ 143 $ 66,134 $ 66,277 $ — Construction — — 1,139 1,139 170,012 171,151 — Real Estate Mortgage: Commercial – Owner Occupied — — 2,170 2,170 125,182 127,352 — Commercial – Non-owner Occupied — — 309 309 311,588 311,897 — Residential – 1 to 4 Family — 163 557 720 711,188 711,908 — Residential – Multifamily — — — — 76,522 76,522 — Consumer — — 178 178 8,531 8,709 — Total Loans $ — $ 259 $ 4,400 $ 4,659 $ 1,469,157 $ 1,473,816 $ — December 31, 2020 30-59 60-89 Greater Total Past Current Total Loans > 90 Days and Accruing (Dollars in thousands) Commercial and Industrial $ — $ — $ 50 $ 50 $ 121,758 $ 121,808 $ — Construction — — 1,365 1,365 209,648 211,013 — Real Estate Mortgage: Commercial – Owner Occupied — 1,171 5,521 6,692 125,515 132,207 — Commercial – Non-owner Occupied — 872 69 941 323,899 324,840 — Residential – 1 to 4 Family — 662 1,669 2,331 668,496 670,827 — Residential – Multifamily — — — — 94,748 94,748 — Consumer 45 — 55 100 10,264 10,364 — Total Loans $ 45 $ 2,705 $ 8,729 $ 11,479 $ 1,554,328 $ 1,565,807 $ — Allowance For Loan and Lease Losses (ALLL) We maintain the ALLL at a level that we believe to be appropriate to absorb estimated probable credit losses incurred in the loan portfolios as of the balance sheet date. We established our allowance in accordance with guidance provided in Accounting Standard Codification ("ASC") - Contingencies ("ASC 450") and Receivables ("ASC 310"). The allowance for loan and lease losses represents management’s estimate of probable losses inherent in the Company’s lending activities excluding loans accounted for under fair value. The allowance for loan losses is maintained through charges to the provision for loan losses in the Consolidated Statements of Income as losses are estimated to have occurred. Loans or portions thereof that are determined to be uncollectible are charged against the allowance, and subsequent recoveries, if any, are credited to the allowance. The Company performs periodic reviews of its loan and lease portfolios to identify credit risks and to assess the overall collectability of those portfolios. The Company's allowance for loan losses includes a general component and an asset-specific component. The asset-specific component of the allowance relates to loans considered to be impaired, which includes performing troubled debt restructurings (“TDRs”) as well as nonperforming loans. To determine the asset-specific component of the allowance, the loans are evaluated individually based on the borrower's ability to repay amounts owed, collateral, relative risk grade of the loans, and other factors given current events and conditions. The Company generally measures the asset-specific allowance as the difference between the net realizable value of loan collateral or present value of expected cash flow and the recorded investment of a loan. The general component of the allowance evaluates the impairments of pools of the loan portfolio collectively. It incorporates a historical valuation allowance and general valuation allowance. The historical loss experience is measured by type of credit and internal risk grade, loss severity, specific homogeneous risk pools. A historical loss ratio and valuation allowance are established for each pool of similar loans and updated periodically based on actual charge-off experience and current events. The general valuation allowance is based on general economic conditions and other qualitative risk factors both internal and external to the Company. It is generally determined by evaluating, among other things: (i) the experience, ability and effectiveness of the Bank's lending management and staff; (ii) the effectiveness of the Bank's lending policies, procedures and internal controls;(iii) volume and severity of loan credit quality; (iv) nature and volume of portfolio and term of loans (v) the composition and concentrations of credit; (vi) the effectiveness of the internal loan review system; and (vii) national and local economic trends and conditions, and industry conditions. Management evaluates the degree of risk that each one of these components has on the quality of the loan portfolio on a quarterly basis. Each component is determined to have either a high, high-moderate, moderate, low-moderate or low degree of risk. The results are then input into a "general allocation matrix" to determine an appropriate general valuation allowance. The process of determining the level of the allowance for loan and lease losses requires a high degree of estimate and judgment. It is reasonably possible that actual outcomes may differ from our estimates. The following tables present the information regarding the allowance for loan and lease losses and associated loan data: Real Estate Mortgage Commercial and Industrial Construction Commercial Owner Occupied Commercial Non-owner Occupied Residential 1 to 4 Family Residential Multifamily Consumer Total Allowance for loan losses (Dollars in thousands) Three months ended September 30, 2021 June 30, 2021 $ 312 $ 3,482 $ 3,502 $ 8,514 $ 12,883 $ 1,250 $ 125 $ 30,068 Charge-offs — (226) — — (49) — — (275) Recoveries 2 — 38 4 — — — 44 Provisions (benefits) 95 (349) (105) (350) 878 (166) (2) 1 Ending Balance at September 30, 2021 $ 409 $ 2,907 $ 3,435 $ 8,168 $ 13,712 $ 1,084 $ 123 $ 29,838 Allowance for loan losses Nine months ended September 30, 2021 December 31, 2020 $ 492 $ 3,359 $ 3,078 $ 8,398 $ 12,595 $ 1,639 $ 137 $ 29,698 Charge-offs — (226) (153) — (49) — — (428) Recoveries 15 — 49 4 — — — 68 Provisions (benefits) (98) (226) 461 (234) 1,166 (555) (14) 500 Ending Balance at September 30, 2021 $ 409 $ 2,907 $ 3,435 $ 8,168 $ 13,712 $ 1,084 $ 123 $ 29,838 Allowance for loan losses Individually evaluated for impairment $ 9 $ 300 $ 6 $ 235 $ 63 $ — $ — $ 613 Collectively evaluated for impairment 400 2,607 3,429 7,933 13,649 1,084 123 29,225 Ending Balance at September 30, 2021 $ 409 $ 2,907 $ 3,435 $ 8,168 $ 13,712 $ 1,084 $ 123 $ 29,838 Loans Individually evaluated for impairment $ 47 $ 1,139 $ 2,443 $ 5,625 $ 1,022 $ — $ 178 $ 10,454 Collectively evaluated for impairment 66,230 170,012 124,909 306,272 710,886 76,522 8,531 1,463,362 Ending Balance at September 30, 2021 $ 66,277 $ 171,151 $ 127,352 $ 311,897 $ 711,908 $ 76,522 $ 8,709 $ 1,473,816 Real Estate Mortgage Commercial and Industrial Construction Commercial Owner Occupied Commercial Non-owner Occupied Residential 1 to 4 Family Residential Multifamily Consumer Total Allowance for loan losses (Dollars in thousands) Three months ended September 30, 2020 June 30, 2020 $ 987 $ 3,660 $ 2,414 $ 6,181 $ 10,766 $ 1,058 $ 162 $ 25,228 Charge-offs — — — — (54) — — (54) Recoveries 11 — 1 2 — — — 14 Provisions (benefits) (385) 1,284 421 648 (65) 511 (14) 2,400 Ending Balance at September 30, 2020 $ 613 $ 4,944 $ 2,836 $ 6,831 $ 10,647 $ 1,569 $ 148 $ 27,588 Allowance for loan losses Nine months ended September 30, 2020 December 31, 2019 $ 964 $ 2,807 $ 2,023 $ 5,860 $ 9,151 $ 819 $ 187 $ 21,811 Charge-offs — — — — (54) — — (54) Recoveries 18 — 9 8 — — — 35 Provisions (benefits) (369) 2,137 804 963 1,550 750 (39) 5,796 Ending Balance at September 30, 2020 $ 613 $ 4,944 $ 2,836 $ 6,831 $ 10,647 $ 1,569 $ 148 $ 27,588 Allowance for loan losses Individually evaluated for impairment $ 78 $ 334 $ 257 $ 377 $ 61 $ — $ — $ 1,107 Collectively evaluated for impairment 535 4,610 2,579 6,454 10,586 1,569 148 26,481 Ending Balance at September 30, 2020 $ 613 $ 4,944 $ 2,836 $ 6,831 $ 10,647 $ 1,569 $ 148 $ 27,588 Loans Individually evaluated for impairment $ 116 $ 4,990 $ 7,447 $ 10,187 $ 2,855 $ — $ — $ 25,595 Collectively evaluated for impairment 126,392 258,884 129,050 290,847 648,039 84,819 10,985 1,549,016 Ending Balance at September 30, 2020 $ 126,508 $ 263,874 $ 136,497 $ 301,034 $ 650,894 $ 84,819 $ 10,985 $ 1,574,611 Impaired Loans A loan is considered impaired when, based on the current information and events, it is probable that the Company will be unable to collect the payments of principal and interest as of the date such payments were due. Loans are placed on non-accrual status when, in management's opinion, the borrower may be unable to meet payment obligations as they become due, as well as when a loan is 90 days past due, unless the loan is well secured and in the process of collection, as required by regulatory provisions. When interest accrual is discontinued, all unpaid accrued interest is reversed. Interest income is subsequently recognized only to the extent cash payments are received in excess of principal due. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. All our impaired loans are assessed for recoverability based on an independent third-party full appraisal to determine the net realizable value (“NRV”) based on the fair value of the underlying collateral, less cost to sell and other costs or the present value of discounted cash flows in the case of certain impaired loans that are not collateral dependent. The following tables provide further detail on impaired loans and the associated ALLL at September 30, 2021 and December 31, 2020: September 30, 2021 Recorded Unpaid Related (Dollars in thousands) With no related allowance recorded: Commercial and Industrial $ 38 $ 38 $ — Construction — — — Real Estate Mortgage: Commercial – Owner Occupied 2,238 2,238 — Commercial – Non-owner Occupied 173 173 — Residential – 1 to 4 Family 488 621 — Residential – Multifamily — — — Consumer 178 178 — 3,115 3,248 — With an allowance recorded: Commercial and Industrial 9 17 9 Construction 1,139 5,856 300 Real Estate Mortgage: Commercial – Owner Occupied 205 205 6 Commercial – Non-owner Occupied 5,452 5,452 235 Residential – 1 to 4 Family 534 534 63 Residential – Multifamily — — — Consumer — — — 7,339 12,064 613 Total: Commercial and Industrial 47 55 9 Construction 1,139 5,856 300 Real Estate Mortgage: Commercial – Owner Occupied 2,443 2,443 6 Commercial – Non-owner Occupied 5,625 5,625 235 Residential – 1 to 4 Family 1,022 1,155 63 Residential – Multifamily — — — Consumer 178 178 — $ 10,454 $ 15,312 $ 613 December 31, 2020 Recorded Unpaid Related (Dollars in thousands) With no related allowance recorded: Commercial and Industrial $ 37 $ 37 $ — Construction — — — Real Estate Mortgage: Commercial – Owner Occupied 2,853 2,853 — Commercial – Non-owner Occupied 69 69 — Residential – 1 to 4 Family 899 899 — Residential – Multifamily 55 55 — Consumer — — — 3,913 3,913 — With an allowance recorded: Commercial and Industrial 12 19 12 Construction 4,840 9,330 301 Real Estate Mortgage: Commercial – Owner Occupied 2,882 2,882 200 Commercial – Non-owner Occupied 10,040 10,040 350 Residential – 1 to 4 Family 976 976 141 Residential – Multifamily — — — Consumer — — — 18,750 23,247 1,004 Total: Commercial and Industrial 49 56 12 Construction 4,840 9,330 301 Real Estate Mortgage: Commercial – Owner Occupied 5,735 5,735 200 Commercial – Non-owner Occupied 10,109 10,109 350 Residential – 1 to 4 Family 1,875 1,875 141 Residential – Multifamily 55 55 — Consumer — — — $ 22,663 $ 27,160 $ 1,004 The following table presents by loan portfolio class, the average recorded investment and interest income recognized on impaired loans for the three and nine months ended September 30, 2021 and 2020: Three Months Ended September 30, 2021 2020 Average Interest Average Interest (Dollars in thousands) Commercial and Industrial $ 48 $ — $ 221 $ 1 Construction 1,290 — 4,990 40 Real Estate Mortgage: Commercial – Owner Occupied 2,446 3 7,515 14 Commercial – Non-owner Occupied 5,651 123 10,240 158 Residential – 1 to 4 Family 1,332 8 2,994 33 Residential – Multifamily — — — — Consumer 178 2 — — Total $ 10,945 $ 136 $ 25,960 $ 246 Nine Months Ended September 30, 2021 2020 Average Interest Average Interest (Dollars in thousands) Commercial and Industrial $ 48 $ 1 $ 281 $ 13 Construction 1,309 — 5,020 119 Real Estate Mortgage: Commercial – Owner Occupied 2,447 10 6,167 95 Commercial – Non-owner Occupied 5,662 256 10,302 312 Residential – 1 to 4 Family 1,377 24 2,314 87 Residential – Multifamily — — — — Consumer 178 4 — — Total $ 11,021 $ 295 $ 24,084 $ 626 Troubled debt restructuring (TDRs) We reported performing TDR loans (not reported as non-accrual loans) of $6.1 million and $13.9 million, respectively, at September 30, 2021 and December 31, 2020. Nonperforming TDR loans were zero and $274,000 at September 30, 2021 and December 31, 2020, respectively. There were no new loans modified as a TDR and no additional commitments to lend additional funds to debtors whose loans have been modified in TDRs for the three and nine months ended September 30, 2021 and the year ended December 31, 2020, respectively. Under Interagency Statement ("Loan Modifications and Reporting for Financial Institutions Working with Customers Affected by the Coronavirus (Revised)") issued by Federal banking agencies, financial institutions generally do not need to categorize COVID-19-related modifications as TDRs. As a result, loans that have been restructured for short term deferrals through our loan deferral program for COVID-19 related hardships and meet certain other criteria specified in the Interagency Statement are not categorized as TDRs. A TDR is a loan the terms of which have been restructured in a manner that grants a concession to a borrower experiencing financial difficulty. TDRs result from our loss mitigation activities that include rate reductions, extension of maturity, or a combination of both, which are intended to minimize economic loss and to avoid foreclosure or repossession of collateral. TDRs are classified as impaired loans and are included in the impaired loan disclosures. TDRs are also evaluated to determine whether they should be placed on non-accrual status. Once a loan becomes a TDR, it will continue to be reported as a TDR until it is repaid in full, foreclosed, sold or it meets the criteria to be removed from TDR status. At the time a loan is modified in a TDR, we consider the following factors to determine whether the loan should accrue interest: • Whether there is a period of current payment history under the current terms, typically 6 months; • Whether the loan is current at the time of restructuring; and • Whether we expect the loan to continue to perform under the restructured terms with a debt coverage ratio that complies with the Bank’s credit underwriting policy of 1.25 times debt service. TDRs are generally included in nonaccrual loans and may return to performing status after a minimum of six consecutive monthly payments under restructured terms and also meeting other performance indicators. We review the financial performance of the borrower over the past year to be reasonably assured of repayment and performance according to the modified terms. This review consists of an analysis of the borrower’s historical results; the borrower’s projected results over the next four quarters; and current financial information of the borrower and any guarantors. The projected repayment source needs to be reliable, verifiable, quantifiable and sustainable. At the time of restructuring, the amount of the loan principal for which we are not reasonably assured of repayment is charged-off, but not forgiven. All TDRs are also reviewed quarterly to determine the amount of any impairment. The nature and extent of impairment of TDRs, including those that have experienced a subsequent default, is considered in the determination of an appropriate level of allowance for loan losses. For TDR loans, we had specific reserves of $261,006 and $420,000 in the allowance at September 30, 2021 and December 31, 2020, respectively. Some loan modifications classified as TDRs may not ultimately result in the full collection of principal and interest, as modified, and result in potential incremental losses. These potential incremental losses have been factored into our overall allowance for loan losses estimate. Credit Quality Indicators : As part of the on-going monitoring of the credit quality of the Company's loan portfolio, management tracks certain credit quality indicators including trends related to the risk grades of loans, the level of classified loans, net charge-offs, nonperforming loans (see details above) and the general economic conditions in the region. The Company utilizes a risk grading matrix to assign a risk grade to each of its loans. Loans are graded on a scale of 1 to 7. Grades 1 through 4 are considered “Pass”. A description of the general characteristics of the seven risk grades is as follows: 1. Good : Borrower exhibits the strongest overall financial condition and represents the most creditworthy profile. 2. Satisfactory (A) : Borrower reflects a well-balanced financial condition, demonstrates a high level of creditworthiness and typically will have a strong banking relationship with the Bank. 3. Satisfactory (B) : Borrower exhibits a balanced financial condition and does not expose the Bank to more than a normal or average overall amount of risk. Loans are considered fully collectable. 4. Watch List : Borrower reflects a fair financial condition, but there exists an overall greater than average risk. Risk is deemed acceptable by virtue of increased monitoring and control over borrowings. Probability of timely repayment is present. 5. Other Assets Especially Mentioned (OAEM) : Financial condition is such that assets in this category have a potential weakness or pose unwarranted financial risk to the Bank even though the asset value is not currently impaired. The asset does not currently warrant adverse classification but if not corrected could weaken and could create future increased risk exposure. Includes loans that require an increased degree of monitoring or servicing as a result of internal or external changes. 6. Substandard : This classification represents more severe cases of #5 (OAEM) characteristics that require increased monitoring. Assets are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Assets are inadequately protected by the current net worth and paying capacity of the borrower or of the collateral. Asset has a well-defined weakness or weaknesses that impairs the ability to repay debt and jeopardizes the timely liquidation or realization of the collateral at the asset’s net book value. 7. Doubtful : Assets which have all the weaknesses inherent in those assets classified #6 (Substandard) but the risks are more severe relative to financial deterioration in capital and/or asset value; accounting/evaluation techniques may be questionable and the overall possibility for collection in full is highly improbable. Borrowers in this category require constant monitoring, are considered work-out loans and present the potential for future loss to the Bank. An analysis of the credit risk profile by internally assigned grades as of September 30, 2021 and December 31, 2020 is as follows: At September 30, 2021 Pass OAEM Substandard Doubtful Total (Dollars in thousands) Commercial and Industrial $ 66,230 $ — $ 47 $ — $ 66,277 Construction 170,012 — 1,139 — 171,151 Real Estate Mortgage: Commercial – Owner Occupied 122,153 3,029 2,170 — 127,352 Commercial – Non-owner Occupied 297,208 14,380 309 — 311,897 Residential – 1 to 4 Family 710,810 449 649 — 711,908 Residential – Multifamily 76,522 — — — 76,522 Consumer 8,531 — 178 — 8,709 Total $ 1,451,466 $ 17,858 $ 4,492 $ — $ 1,473,816 At December 31, 2020 Pass OAEM Substandard Doubtful Total (Dollars in thousands) Commercial and Industrial $ 121,715 $ 43 $ 50 $ — $ 121,808 Construction 209,648 — 1,365 — 211,013 Real Estate Mortgage: Commercial – Owner Occupied 123,657 3,029 5,521 — 132,207 Commercial – Non-owner Occupied 324,649 — 191 — 324,840 Residential – 1 to 4 Family 668,593 462 1,772 — 670,827 Residential – Multifamily 94,748 — — — 94,748 Consumer 10,309 — 55 — 10,364 Total $ 1,553,319 $ 3,534 $ 8,954 $ — $ 1,565,807

EQUITY AND CHANGES IN OTHER COM

EQUITY AND CHANGES IN OTHER COMPREHENSIVE INCOME	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
EQUITY AND CHANGES IN OTHER COMPREHENSIVE INCOME	EQUITY AND CHANGES IN OTHER COMPREHENSIVE INCOME The Company's total equity was $225.7 million and $202.6 million at September 30, 2021 and December 31, 2020, respectively. Common stock dividend : On September 22, 2021, the Company declared a quarterly cash dividend of $0.16 per share to the common shareholders of record as of October 6, 2021, and paid the dividend on October 20, 2021. On June 22, 2021, the Company declared a quarterly cash dividend of $0.16 per share to the common shareholders of record as of July 6, 2021, and paid the dividend on July 20, 2021. On April 23, 2021, the Company declared a quarterly cash dividend of $0.16 per share to the common shareholders of record as of May 4, 2021, and paid the dividend on May 18, 2021. On January 19, 2021, the Company declared a cash dividend of $0.16 per share to common shareholders of record as of February 1, 2021, and paid the dividend February 16, 2021. Preferred stock dividend : The Company declared cash dividends of $7,050 and $7,200 to preferred stockholders during the three months ended September 30, 2021 and September 30, 2020, respectively. The Company declared cash dividends of $21,150 and $22,200 to preferred stockholders during the nine months ended September 30, 2021 and September 30, 2020, respectively. Conversion of preferred stock : During the nine months ended September 30, 2021, preferred stockholders converted 10 shares of preferred shares into 1,375 shares of common stock. During the nine months ended September 30, 2020, preferred stockholders converted 20 shares of preferred shares into 2,751 shares of common stock. Non-controlling interests : The Company has a joint venture with Bridgestone Capital LLC in PDL LLC, a joint venture formed in 2018 to originate short-term alternative real estate loan products. The Company has a 51% ownership interest in the joint venture. The Company distributed PDL earnings of $447,000 and $594,000 to Bridgestone during the first nine months of 2021 and 2020, respectively. Other comprehensive income The changes in accumulated other comprehensive income (loss) consisted of the following for the nine months ended September 30, 2021 and 2020: For the Three Months Ended 2021 2020 (Dollars in thousands) Investment securities: Net unrealized losses arising during the period $ (30) $ (184) Tax effect related to the unrealized loss during the periods 8 45 (Loss) in other comprehensive income $ (22) $ (139) For the Nine Months Ended September 30, 2021 2020 (Dollars in thousands) Investment securities: Net unrealized (losses) gains arising during the period $ (156) $ 590 Tax effect related to the unrealized (loss) gain during the periods 40 (145) Change in other comprehensive income $ (116) $ 445

EARNINGS PER SHARE ("EPS")

EARNINGS PER SHARE ("EPS")	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE ("EPS")	EARNINGS PER SHARE (“EPS”) The following tables set forth the calculation of basic and diluted EPS for the three and nine-month periods ended September 30, 2021 and 2020. Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (Dollars in thousands except share and per share data) Basic earnings per common share Net income available to the Company $ 10,501 $ 6,543 $ 30,687 $ 20,296 Less: Dividend on series B preferred stock (7) (7) (21) (22) Net income available to common shareholders 10,494 6,536 30,666 20,274 Basic weighted-average common shares outstanding 11,893,323 11,850,882 11,885,709 11,849,659 Basic earnings per common share $ 0.88 $ 0.55 $ 2.58 $ 1.71 Diluted earnings per common share Net income available to common shares $ 10,494 $ 6,536 $ 30,666 $ 20,274 Add: Dividend on series B preferred stock 7 7 21 22 Net income available to diluted common shares 10,501 6,543 30,687 20,296 Basic weighted-average common shares outstanding 11,893,323 11,850,882 11,885,709 11,849,659 Dilutive potential common shares 232,305 124,212 229,680 137,305 Diluted weighted-average common shares outstanding 12,125,628 11,975,094 12,115,389 11,986,964 Diluted earnings per common share $ 0.87 $ 0.55 $ 2.53 $ 1.69

FAIR VALUE

FAIR VALUE	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE	FAIR VALUE Fair Value Measurements The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In accordance with the Fair Value Measurements and Disclosures (Topic 820) of FASB Accounting Standards Codification, the fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company's various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. Fair value is a market-based measurement, not an entity-specific measurement. The fair value guidance provides a consistent definition of fair value, which focuses on exit price in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions. In accordance with this guidance, the Company groups its assets and liabilities carried at fair value in three levels as follows: Level 1 Input: 1) Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 Inputs: 1) Quoted prices for similar assets or liabilities in active markets. 2) Quoted prices for identical or similar assets or liabilities in markets that are not active. 3) Inputs other than quoted prices that are observable, either directly or indirectly, for the term of the asset or liability (e.g., interest rates, yield curves, credit risks, prepayment speeds or volatilities) or “market corroborated inputs.” Level 3 Inputs: 1) Prices or valuation techniques that require inputs that are both unobservable (i.e. supported by little or no market activity) and that are significant to the fair value of the assets or liabilities. 2) These assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Fair Value on a Recurring Basis: The following is a description of the Company’s valuation methodologies for assets carried at fair value on a recurring basis. These methods may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Company believes that its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting measurement date. Investments in Available for Sale Securities and Loans Held for Sale: Where quoted prices are available in an active market, securities or other assets are classified in Level 1 of the valuation hierarchy. If quoted market prices are not available for the specific security or available for sale loans, then fair values are provided by independent third-party valuation services. These valuation services estimate fair values using pricing models and other accepted valuation methodologies, such as quotes for similar securities and observable yield curves and spreads. As part of the Company’s overall valuation process, management evaluates these third-party methodologies to ensure that they are representative of exit prices in the Company’s principal markets. For the loans held for sale, the fair value represents the face value of the guaranteed portion of the SBA loans pending settlement. Securities and loans in Level 2 include mortgage-backed securities, corporate debt obligations, collateralized mortgage-backed securities, and SBA loans available for sale. The table below presents the balances of assets and liabilities measured at fair value on a recurring basis. Financial Assets Level 1 Level 2 Level 3 Total (Dollars in thousands) Available for Sale Securities and Loans Held for Sale As of September 30, 2021 Corporate debt obligations $ — $ 500 $ — $ 500 Residential mortgage-backed securities — 14,160 — 14,160 Collateralized mortgage-backed securities — 13 — 13 Loans held for sale — — — — Total $ — $ 14,673 $ — $ 14,673 As of December 31, 2020 Corporate debt obligations $ — $ 500 $ — $ 500 Residential mortgage-backed securities — 19,359 — 19,359 Collateralized mortgage-backed securities — 23 — 23 Loans held for sale — 200 — 200 Total $ — $ 20,082 $ — $ 20,082 For the nine months ended September 30, 2021, there were no transfers between the levels within the fair value hierarchy. There were no level 3 assets or liabilities held during the three and nine months ended September 30, 2021 and 2020. Fair Value on a Non-recurring Basis: Certain assets and liabilities are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). Financial Assets Level 1 Level 2 Level 3 Total (Dollars in thousands) As of September 30, 2021 Collateral-dependent impaired loans $ — $ — $ 4,181 $ 4,181 OREO — — 1,756 1,756 As of December 31, 2020 Collateral-dependent impaired loans $ — $ — $ 11,558 $ 11,558 OREO — — 139 139 All collateral-dependent impaired loans have an independent third-party full appraisal to determine the NRV based on the fair value of the underlying collateral, less cost to sell (a range of 5% to 10%) and other costs, such as unpaid real estate taxes, that have been identified, or the present value of discounted cash flows in the case of certain impaired loans that are not collateral dependent. The appraisal will be based on an "as-is" valuation and will follow a reasonable valuation method that addresses the direct sales comparison, income, and cost approaches to market value, reconciles those approaches, and explains the elimination of each approach not used. Appraisals are updated every 12 months or sooner if we have identified possible further deterioration in value. OREO consists of real estate properties that are recorded at fair value based upon current appraised value, or agreements of sale, less estimated disposition costs using level 3 inputs. Properties are reappraised annually. Fair Value of Financial Instruments The Company discloses estimated fair values for its significant financial instruments in accordance with FASB ASC (Topic 825), “ Disclosures about Fair Value of Financial Instruments ”. The methodologies for estimating the fair value of financial assets and liabilities that are measured at fair value on a recurring or non-recurring basis are discussed above. The methodologies for estimating the fair value of other financial assets and liabilities are discussed below. For certain financial assets and liabilities, carrying value approximates fair value due to the nature of the financial instrument. These instruments include cash and cash equivalents, accrued interest receivable, demand and other non-maturity deposits and accrued interest payable. The Company used the following methods and assumptions in estimating the fair value of the following financial instruments: Investment Securities: Fair value of securities available for sale is described above. Fair value of held to maturity securities is based upon quoted market prices for identical or similar assets. Loans Held for Sale: Fair value represents the face value of the guaranteed portion of SBA loans pending settlement. Loans Receivable: For residential mortgages loans, fair value is estimated using the quoted market prices for securities backed by similar loans, adjusted for differences in loan characteristics. The fair value of other types of loans is estimated by discounting the future cash flows using the risk adjusting current interest rates at which similar loans would be made to borrowers with similar credit ratings and same remaining maturities, adjusted for the liquidity discount and underwriting uncertainty. Restricted stock: Carrying value of Federal Home Loan Bank of New York ("FHLBNY") and the Atlantic Central Bankers Bank stocks represent the par values of the stocks and is adjusted for impairments if any. The carrying value approximated fair value. Time deposits: The fair value of time deposits is based on the discounted value of contractual cash flows, where the discount rate is estimated using the market rates currently offered for deposits of similar remaining maturities. Borrowings: The fair values of FHLBNY borrowings and Federal Reserve Bank advance, other borrowed funds and subordinated debt are based on the discounted value of estimated cash flows. The discounted rate is estimated using market rates currently offered for debts with similar credit rating, terms and remaining maturities. For a further discussion of the Company’s valuation methodologies for financial instruments measured at fair value, see the descriptions in the Company's 2020 Annual Report on Form 10-K. Bank premises and equipment, customer relationships, deposit base and other information required to compute the Company’s aggregate fair value are not included in the above information. Accordingly, the above fair values are not intended to represent the aggregate fair value of the Company. The following table summarizes the carrying amounts and fair values for financial instruments at September 30, 2021 and December 31, 2020: September 30, 2021 Carrying Amount Fair Value Total Level 1 Level 2 Level 3 (Dollars in thousands) Financial Assets: Cash and cash equivalents $ 623,825 $ 623,825 $ 623,825 $ — $ — Investment securities AFS 14,673 14,673 — 14,673 — Investment securities HTM 9,962 10,078 — 10,078 — Restricted stock 5,729 5,729 — — 5,729 Loans held for sale — — — — — Loans, net 1,443,978 1,442,130 — 1,436,497 5,633 Accrued interest receivable 7,753 7,753 — 7,753 — Financial Liabilities: Non-time deposits $ 1,113,627 $ 1,113,627 $ — $ 1,113,627 $ — Time deposits 667,613 671,994 — 671,994 — Borrowings 133,834 131,106 — 131,106 — Accrued interest payable 1,248 1,248 — 1,248 — December 31, 2020 Carrying Amount Fair Value Total Level 1 Level 2 Level 3 (Dollars in thousands) Financial Assets: Cash and cash equivalents $ 458,601 $ 458,601 $ 458,601 $ — $ — Investment securities AFS 19,882 19,882 — 19,882 — Investment securities HTM 1,224 1,530 — 1,530 — Restricted stock 7,542 7,542 — — 7,542 Loans held for sale 200 200 — 200 — Loans, net 1,536,109 1,555,509 — 1,533,850 21,659 Accrued interest receivable 8,772 8,772 — 8,772 — Financial Liabilities: Non-time deposits $ 925,113 $ 925,113 $ — $ 925,113 $ — Time deposits 667,330 672,385 — 672,385 — Borrowings 267,218 265,119 — 265,119 — Accrued interest payable 2,338 2,338 — 2,338 —

LEASES

LEASES	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Leases	Leases We lease three retail branches and a parcel of land for a retail branch location. These leases generally have remaining terms of 6 years or less except the land lease, which has a remaining lease term of eighty-four years. Some of the leases may include options to renew the leases. The exercise of lease renewals is at our sole discretion. Upon adoption of Accounting Standards Update (ASU) 2016-02, we recognized operating right-of-use ("ROU") assets and liabilities each for $2.8 million. Additionally, the practical expedient package was elected, which allows us to not reassess the lease classification for any existing lease. As such, all our leases remain classified as operating leases. Our ROU assets and lease liabilities for operating leases are included in other assets and other liabilities on our consolidated balance sheets. We use the interest rate implicit in the lease or incremental borrowing rate in determining the present value of lease payments. At September 30, 2021, we had future minimum lease payments of $27.1 million and lease liability $2.1 million. The weighted average remaining lease term was 56.5 years and weighted average discount rate was 7.4% at September 30, 2021, respectively. We also sublease some space for one of our leased facilities to a company. Our operating lease expense is included in occupancy expenses within non-interest expense in our consolidated statements of income. Total operating lease expense consists of operating lease cost, which is recognized on a straight-line basis over the lease term, and variable lease cost, which is recognized based on actual amounts incurred. The following table presents information about our operating leases at the year ended September 30, 2021: September 30, 2021 (Dollars in thousands) Lease right of use ("ROU") assets $ 2,122 Lease liabilities $ 2,122 The following table presents future undiscounted cash flows on our operating leases: September 30, 2021 (Dollars in thousands) Remainder of 2021 $ 83 2022 330 2023 250 2024 262 2025 262 Thereafter 25,877 Total undiscounted lease payments $ 27,064

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated balance sheet. The contract or notional amounts of these instruments reflect the extent of the Company’s involvement in these particular classes of financial instruments. The Company’s exposure to the maximum possible credit risk in the event of nonperformance by the other party to the financial instruments for commitments to extend credit and standby letters of credit is represented by the contractual or notional amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require the payment of a fee. The Company evaluates each customer’s credit-worthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary upon extension of credit, is based on management’s credit evaluation. Collateral held varies but may include accounts receivable; inventory; property, plant and equipment and income-producing commercial properties. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Commitments to fund fixed-rate loans were immaterial at September 30, 2021. Variable-rate commitments are generally issued for less than one year and carry market rates of interest. Such instruments are not likely to be affected by annual rate caps triggered by rising interest rates. Management believes that off-balance sheet risk is not material to the results of operations or financial condition. As of September 30, 2021 and December 31, 2020, unused commitments to extend credit amounted to approximately $120.9 million and $144.6 million, respectively. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. As of September 30, 2021 and December 31, 2020, standby letters of credit with customers were $1.7 million and $1.7 million, respectively. On March 5, 2021, the Bank entered into an agreement with the FHLBNY for a Municipal Letter of Credit ("MLOC") of $40.0 million. The MLOC is used to pledge against public deposits and expires on March 7, 2022. There were no outstanding borrowings on the letter of credit as of September 30, 2021. The Company also has entered into an employment contract with the President of the Company, which provides for continued payment of certain employment salary and benefits prior to the expiration date of the agreement and in the event of a change in control, as defined. The Company has also entered in Change-in-Control Severance Agreements with certain officers which provide for the payment of severance in certain circumstances following a change in control. We provide banking services to customers that are licensed by various States to do business in the cannabis industry as growers, processors and dispensaries. Cannabis businesses are legal in these States, although it is not legal at the federal level. The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) published guidelines in 2014 for financial institutions servicing state legal cannabis businesses. A financial institution that provides services to cannabis-related businesses can comply with Bank Secrecy Act (“BSA”) disclosure standards by following the FinCEN guidelines. We maintain stringent written policies and procedures related to the acceptance of such businesses and to the monitoring and maintenance of such business accounts. We conduct a significant due diligence review of the cannabis business before the business is accepted, including confirmation that the business is properly licensed by the applicable state. Throughout the relationship, we continue monitoring the business, including site visits, to ensure that the business continues to meet our stringent requirements, including maintenance of required licenses and periodic financial reviews of the business. While we believe we are operating in compliance with the FinCEN guidelines, there can be no assurance that federal enforcement guidelines will not change. Federal prosecutors have significant discretion and there can be no assurance that the federal prosecutors will not choose to strictly enforce the federal laws governing cannabis. Any change in the Federal government’s enforcement position, could cause us to immediately cease providing banking services to the cannabis industry. At September 30, 2021 and December 31, 2020, deposit balances from cannabis customers were approximately $354.5 million and $259.4 million, or 19.9% and 16.3% of total deposits, respectively, with two customers accounting for 20.6% and 19.2% of the total at September 30, 2021 and December 31, 2020. At September 30, 2021 and December 31, 2020, there were cannabis-related loans in the amounts of $6.3 million and $8.0 million, respectively. We recorded approximately $288 thousand and $465 thousand of interest income in the nine months ended September 30, 2021 and year ended December 31, 2020, respectively, related to these loans. The fee income for the nine months ended September 30, 2021 and year ended December 31, 2020, from the commercial deposit accounts of depositors who do business in the cannabis industry were $3.7 million and $2.2 million, respectively, and are included in service fees on deposit accounts, in the accompanying consolidated statements of income.

REGULATORY MATTERS

REGULATORY MATTERS	9 Months Ended
	Sep. 30, 2021
Banking and Thrift, Other Disclosures [Abstract]
REGULATORY MATTERS	REGULATORY MATTERS Banks and bank holding companies are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and, additionally for banks, prompt corrective action regulations, involve quantitative measures of assets, liabilities, and certain off-balance-sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators. Failure to meet capital requirements can result in regulatory action. The final rules implementing Basel Committee on Banking Supervision's capital guidelines for U.S. banks (Basel III rules) became effective for the Company on January 1, 2015 with full compliance with all of the requirements being phased in over a multi-year schedule, and fully phased in by January 1, 2019. Under the Basel III rules, the Company must hold a capital conservation buffer above the adequately capitalized risk-based capital ratios. The capital conservation buffer was being phased in from 0.0% for 2015 to 2.50% by 2019. The Bank made a one-time election to opt-out of including the net unrealized gain or loss on available for sale securities in computing regulatory capital. At September 30, 2021 and December 31, 2020, the Company and Bank were both considered “well capitalized". Prompt corrective action regulations provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically under-capitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. As of September 30, 2021 and December 31, 2020, the most recent regulatory notifications categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. There are no conditions or events since that notification that management believes have changed the institution's category. In November 2019, Federal bank regulatory agencies finalized a rule that simplifies capital requirements for community banks by allowing them to optionally adopt a simple leverage ratio to measure capital adequacy, which removes requirements for calculating and reporting risk-based capital ratios for a qualifying community bank that have less than $10 billion in total consolidated assets, limited amounts of off-balance-sheet exposures and trading assets and liabilities, and a leverage ratio greater than 9 percent. The community bank leverage ratio framework was effective on January 1, 2020. The Company elected to adopt the optional community bank leverage ratio framework in the first quarter of 2020. In April 2020, the Federal banking regulatory agencies modified the original Community Bank Leverage Ratio (CBLR) framework and provided that, as of the second quarter 2020, a banking organization with a leverage ratio of 8 percent or greater and that meets the other existing qualifying criteria may elect to use the community bank leverage ratio framework. The modified rule also states that the community bank leverage ratio requirement will be greater than 8 percent for the second through fourth quarters of calendar year 2020, greater than 8.5 percent for calendar year 2021, and greater than 9 percent thereafter. The transition rule also maintains a two-quarter grace period for a qualifying community banking organization whose leverage ratio falls no more than 100 basis points below the applicable community bank leverage ratio requirement. The leverage ratios of the Company and the Bank at September 30, 2021 are as follows: Regulatory Capital Compliance As of September 30, 2021 Actual For Capital Adequacy (Dollars in thousands except ratios) Amount Ratio Amount Ratio Company: Tier 1 leverage $ 238,743 11.34 % $ 178,975 8.50 % Parke Bank: Tier 1 leverage $ 267,546 12.83 % $ 177,187 8.50 % The Company and Bank's regulatory capital as of December 31, 2020, is presented in the following table. As of December 31, 2020 Actual For Capital Adequacy (Dollars in thousands except ratios) Amount Ratio Amount Ratio Company: Total risk-based capital $ 261,143 20.61 % $ 101,365 8.00 % Tier 1 risk-based capital 215,134 16.98 % 76,024 6.00 % Tier 1 leverage 215,134 10.90 % 157,968 8.00 % Tier 1 common equity 200,003 15.78 % 57,018 4.50 % Parke Bank: Tier 1 leverage 243,899 12.35 % 157,936 8.00 % * Combination of both community bank leverage approach and the regular rule of capital adequacy. Consent Orders with Banking Regulators During the fourth quarter of 2020, the Bank entered into a Stipulation to the Issuance of a Consent Order with each of the Federal Deposit Insurance Corporation (the “FDIC”) and the New Jersey Department of Banking and Insurance (the “NJDOBI”) (the “Consent Orders”), relating to weaknesses in the Bank’s Bank Secrecy Act and Anti-Money Laundering (collectively “BSA”) compliance program. In consenting to the issuance of the Consent Orders, the Bank did not admit or deny any charges of unsafe or unsound banking practices related to the BSA compliance program. Under the terms of the Consent Orders the Bank and/or its Board of Directors is required to take certain actions including, among other things, increasing supervision and direction of the Bank’s BSA compliance program, implementation of sound BSA policies and procedures, reviewing and improving the Bank’s BSA compliance program, BSA risk assessment, system of BSA internal controls, and customer due diligence policies and reviewing and improving policies and procedures for monitoring and reporting suspicious activity. Numerous actions have been taken or completed by the Bank in complying with the Consent Orders and strengthening its BSA compliance practices, policies, procedures and controls. The Consent Orders have resulted in additional BSA compliance expenses for the Bank and the Company. The Consent Orders do not otherwise impact the Bank’s business activities outside of BSA and did not require the Bank to pay any civil money penalty or require additional capital.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Financial Statement Presentation	Basis of Financial Statement Presentation: We prepared our consolidated financial statements in accordance with accounting principles generally accepted in the United States of America ("GAAP"). The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary, Parke Bank (including certain partnership interests). Also included are the accounts of Parke Direct Lending LLC ("PDL"), a joint venture formed in 2018 to originate short-term alternative real estate loan products. Parke Bank has a 51% ownership interest in the joint venture. Parke Capital Trust I, Parke Capital Trust II and Parke Capital Trust III are wholly-owned subsidiaries but are not consolidated as they do not meet the requirements for consolidation under applicable accounting guidance. We have eliminated inter-company balances and transactions. We have also reclassified certain prior year amounts to conform to the current year presentation, which did not have a material impact on our consolidated financial condition or results of operations. The accompanying interim financial statements should be read in conjunction with the annual financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The accompanying interim financial statements for the three and nine months ended September 30, 2021 and 2020 are unaudited. The balance sheet as of December 31, 2020, was derived from the audited financial statements. In the opinion of management, these financial statements include all normal and recurring adjustments necessary for a fair statement of the results for such interim periods. Results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of the results for the full year or any other period.
Use of Estimates	Use of Estimates: The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term include the allowance for loan losses, the valuation of deferred income taxes, and the carrying value of other real estate owned ("OREO").
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements: During June 2016, the Financial Accounting Standard Board (FASB) issued accounting standards update ("ASU") 2016-13, Financial Instruments-Credit Losses. ASU 2016-13 (Topic 326) , replaces the incurred loss impairment methodology in current GAAP with an expected credit loss ("CECL") methodology and requires consideration of a broader range of information to determine credit loss estimates. Financial assets measured at amortized cost will be presented at the net amount expected to be collected by using an allowance for credit losses. Credit losses relating to available-for-sale debt securities will be recorded through an allowance for credit losses, with such allowance limited to the amount by which fair value is below amortized cost. The ASU was amended in some aspects by subsequent Accounting Standards Updates. The guidance of the Financial Instruments-Credit Losses became effective for public entities except small reporting companies ("SRCs") for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. For all entities, early adoption will continue to be allowed. As a small reporting company, CECL is effective for fiscal years beginning after December 15, 2022. The Company is currently evaluating the impact of this new guidance on its consolidated financial statements. In March 2020, the FASB issued ASU 2020-3, Codification Improvements to Financial Instruments . ASU 2020-3 improves various financial instruments topics in the Accounting Standard Codification, such as: fair value option, applicability of portfolio exception in Topic 820 to nonfinancial items, disclosures for depository and lending institutions, etc. The confirming amendments are effective upon issuance of this Update for public entities. The amendments related to other issues are effective on various dates depending on the affects the guidance in the amendments in Accounting Standards Updates. The Company has adopted certain items in the guidance and is currently evaluating the impact of the other areas of the guidance and doesn't expect the adoption of the ASU have or will have a material impact to our consolidated financial statements. In March 2020, the FASB issued ASU 2020-4, Reference Rate Reform - Facilitation of the Effects of Reference Rate Reform on Financial Reporting. ASU 2020-4 (Topic 848) provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The ASU is effective for all entities as of March 12, 2020 through December 31, 2022. The Company is currently evaluating the impact of this new guidance on its consolidated financial statements.

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Summary of Investments in Available-for-sale and Held-to-maturity Securities	The following is a summary of the Company's investments in available for sale and held to maturity securities as of September 30, 2021 and December 31, 2020: As of September 30, 2021 Amortized Gross Gross Fair value (Dollars in thousands) Available for sale: Corporate debt obligations $ 500 $ — $ — $ 500 Residential mortgage-backed securities 13,692 497 29 14,160 Collateralized mortgage obligations 13 — — 13 Total available for sale $ 14,205 $ 497 $ 29 $ 14,673 Held to maturity: Residential mortgage-backed securities $ 6,215 $ — $ 85 $ 6,130 States and political subdivisions 3,747 248 47 3,948 Total held to maturity $ 9,962 $ 248 $ 132 $ 10,078 As of December 31, 2020 Amortized Gross Gross Fair value (Dollars in thousands) Available for sale: Corporate debt obligations $ 500 $ — $ — $ 500 Residential mortgage-backed securities 18,736 646 23 19,359 Collateralized mortgage obligations 22 1 — 23 Total available for sale $ 19,258 $ 647 $ 23 $ 19,882 Held to maturity: States and political subdivisions $ 1,224 $ 306 $ — $ 1,530
Investments Classified by Contractual Maturity	The amortized cost and fair value of debt securities classified as available for sale and held to maturity, by contractual maturity as of September 30, 2021 are as follows: Amortized Fair (Dollars in thousands) Available for sale: Due within one year $ 19 $ 18 Due after one year through five years 500 500 Due after five years through ten years 8,011 8,252 Due after ten years 5,675 5,903 Total available for sale $ 14,205 $ 14,673 Held to maturity: Due within one year $ — $ — Due after one year through five years — — Due after five years through ten years 1,268 1,516 Due after ten years 8,694 8,562 Total held to maturity $ 9,962 $ 10,078
Gross Unrealized Losses and Fair Value of Investments with Continuous Unrealized Loss Position	The following tables show the gross unrealized losses and fair value of the Company's investments which are aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2021 and December 31, 2020: As of September 30, 2021 Less Than 12 Months 12 Months or Greater Total Description of Securities Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousand) Available for sale: Residential mortgage-backed securities $ 190 $ — $ 1,558 $ 29 $ 1,748 $ 29 Total available for sale $ 190 $ — $ 1,558 $ 29 $ 1,748 $ 29 Held to maturity: Residential mortgage-backed securities $ 6,130 $ 85 $ — $ — $ 6,130 $ 85 States and political subdivisions 2,432 47 — — 2,432 47 Total held to maturity $ 8,562 $ 132 $ — $ — $ 8,562 $ 132 As of December 31, 2020 Less Than 12 Months 12 Months or Greater Total Description of Securities Fair Unrealized Fair Unrealized Fair Unrealized (Dollars in thousands) Available for sale: Residential mortgage-backed securities $ 2,142 $ 20 $ 215 $ 3 $ 2,357 $ 23 Total available for sale $ 2,142 $ 20 $ 215 $ 3 $ 2,357 $ 23

LOANS AND ALLOWANCE FOR LOAN _2

LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)	9 Months Ended
	Sep. 30, 2021
Receivables [Abstract]
Portfolio of Loans Outstanding	The portfolios of loans receivable at September 30, 2021 and December 31, 2020, consist of the following: September 30, 2021 December 31, 2020 Amount Amount (Dollars in thousands) Commercial and Industrial $ 66,277 $ 121,808 Construction 171,151 211,013 Real Estate Mortgage: Commercial – Owner Occupied 127,352 132,207 Commercial – Non-owner Occupied 311,897 324,840 Residential – 1 to 4 Family 711,908 670,827 Residential – Multifamily 76,522 94,748 Consumer 8,709 10,364 Total Loans $ 1,473,816 $ 1,565,807
Age Analysis of Past Due Loans by Class	An age analysis of past due loans by class at September 30, 2021 and December 31, 2020 is as follows: September 30, 2021 30-59 60-89 Greater Total Past Current Total Loans > 90 Days and Accruing (Dollars in Thousands) Commercial and Industrial $ — $ 96 $ 47 $ 143 $ 66,134 $ 66,277 $ — Construction — — 1,139 1,139 170,012 171,151 — Real Estate Mortgage: Commercial – Owner Occupied — — 2,170 2,170 125,182 127,352 — Commercial – Non-owner Occupied — — 309 309 311,588 311,897 — Residential – 1 to 4 Family — 163 557 720 711,188 711,908 — Residential – Multifamily — — — — 76,522 76,522 — Consumer — — 178 178 8,531 8,709 — Total Loans $ — $ 259 $ 4,400 $ 4,659 $ 1,469,157 $ 1,473,816 $ — December 31, 2020 30-59 60-89 Greater Total Past Current Total Loans > 90 Days and Accruing (Dollars in thousands) Commercial and Industrial $ — $ — $ 50 $ 50 $ 121,758 $ 121,808 $ — Construction — — 1,365 1,365 209,648 211,013 — Real Estate Mortgage: Commercial – Owner Occupied — 1,171 5,521 6,692 125,515 132,207 — Commercial – Non-owner Occupied — 872 69 941 323,899 324,840 — Residential – 1 to 4 Family — 662 1,669 2,331 668,496 670,827 — Residential – Multifamily — — — — 94,748 94,748 — Consumer 45 — 55 100 10,264 10,364 — Total Loans $ 45 $ 2,705 $ 8,729 $ 11,479 $ 1,554,328 $ 1,565,807 $ —
Analysis of Allowance for Loan Losses	The following tables present the information regarding the allowance for loan and lease losses and associated loan data: Real Estate Mortgage Commercial and Industrial Construction Commercial Owner Occupied Commercial Non-owner Occupied Residential 1 to 4 Family Residential Multifamily Consumer Total Allowance for loan losses (Dollars in thousands) Three months ended September 30, 2021 June 30, 2021 $ 312 $ 3,482 $ 3,502 $ 8,514 $ 12,883 $ 1,250 $ 125 $ 30,068 Charge-offs — (226) — — (49) — — (275) Recoveries 2 — 38 4 — — — 44 Provisions (benefits) 95 (349) (105) (350) 878 (166) (2) 1 Ending Balance at September 30, 2021 $ 409 $ 2,907 $ 3,435 $ 8,168 $ 13,712 $ 1,084 $ 123 $ 29,838 Allowance for loan losses Nine months ended September 30, 2021 December 31, 2020 $ 492 $ 3,359 $ 3,078 $ 8,398 $ 12,595 $ 1,639 $ 137 $ 29,698 Charge-offs — (226) (153) — (49) — — (428) Recoveries 15 — 49 4 — — — 68 Provisions (benefits) (98) (226) 461 (234) 1,166 (555) (14) 500 Ending Balance at September 30, 2021 $ 409 $ 2,907 $ 3,435 $ 8,168 $ 13,712 $ 1,084 $ 123 $ 29,838 Allowance for loan losses Individually evaluated for impairment $ 9 $ 300 $ 6 $ 235 $ 63 $ — $ — $ 613 Collectively evaluated for impairment 400 2,607 3,429 7,933 13,649 1,084 123 29,225 Ending Balance at September 30, 2021 $ 409 $ 2,907 $ 3,435 $ 8,168 $ 13,712 $ 1,084 $ 123 $ 29,838 Loans Individually evaluated for impairment $ 47 $ 1,139 $ 2,443 $ 5,625 $ 1,022 $ — $ 178 $ 10,454 Collectively evaluated for impairment 66,230 170,012 124,909 306,272 710,886 76,522 8,531 1,463,362 Ending Balance at September 30, 2021 $ 66,277 $ 171,151 $ 127,352 $ 311,897 $ 711,908 $ 76,522 $ 8,709 $ 1,473,816 Real Estate Mortgage Commercial and Industrial Construction Commercial Owner Occupied Commercial Non-owner Occupied Residential 1 to 4 Family Residential Multifamily Consumer Total Allowance for loan losses (Dollars in thousands) Three months ended September 30, 2020 June 30, 2020 $ 987 $ 3,660 $ 2,414 $ 6,181 $ 10,766 $ 1,058 $ 162 $ 25,228 Charge-offs — — — — (54) — — (54) Recoveries 11 — 1 2 — — — 14 Provisions (benefits) (385) 1,284 421 648 (65) 511 (14) 2,400 Ending Balance at September 30, 2020 $ 613 $ 4,944 $ 2,836 $ 6,831 $ 10,647 $ 1,569 $ 148 $ 27,588 Allowance for loan losses Nine months ended September 30, 2020 December 31, 2019 $ 964 $ 2,807 $ 2,023 $ 5,860 $ 9,151 $ 819 $ 187 $ 21,811 Charge-offs — — — — (54) — — (54) Recoveries 18 — 9 8 — — — 35 Provisions (benefits) (369) 2,137 804 963 1,550 750 (39) 5,796 Ending Balance at September 30, 2020 $ 613 $ 4,944 $ 2,836 $ 6,831 $ 10,647 $ 1,569 $ 148 $ 27,588 Allowance for loan losses Individually evaluated for impairment $ 78 $ 334 $ 257 $ 377 $ 61 $ — $ — $ 1,107 Collectively evaluated for impairment 535 4,610 2,579 6,454 10,586 1,569 148 26,481 Ending Balance at September 30, 2020 $ 613 $ 4,944 $ 2,836 $ 6,831 $ 10,647 $ 1,569 $ 148 $ 27,588 Loans Individually evaluated for impairment $ 116 $ 4,990 $ 7,447 $ 10,187 $ 2,855 $ — $ — $ 25,595 Collectively evaluated for impairment 126,392 258,884 129,050 290,847 648,039 84,819 10,985 1,549,016 Ending Balance at September 30, 2020 $ 126,508 $ 263,874 $ 136,497 $ 301,034 $ 650,894 $ 84,819 $ 10,985 $ 1,574,611
Impaired Loans	The following tables provide further detail on impaired loans and the associated ALLL at September 30, 2021 and December 31, 2020: September 30, 2021 Recorded Unpaid Related (Dollars in thousands) With no related allowance recorded: Commercial and Industrial $ 38 $ 38 $ — Construction — — — Real Estate Mortgage: Commercial – Owner Occupied 2,238 2,238 — Commercial – Non-owner Occupied 173 173 — Residential – 1 to 4 Family 488 621 — Residential – Multifamily — — — Consumer 178 178 — 3,115 3,248 — With an allowance recorded: Commercial and Industrial 9 17 9 Construction 1,139 5,856 300 Real Estate Mortgage: Commercial – Owner Occupied 205 205 6 Commercial – Non-owner Occupied 5,452 5,452 235 Residential – 1 to 4 Family 534 534 63 Residential – Multifamily — — — Consumer — — — 7,339 12,064 613 Total: Commercial and Industrial 47 55 9 Construction 1,139 5,856 300 Real Estate Mortgage: Commercial – Owner Occupied 2,443 2,443 6 Commercial – Non-owner Occupied 5,625 5,625 235 Residential – 1 to 4 Family 1,022 1,155 63 Residential – Multifamily — — — Consumer 178 178 — $ 10,454 $ 15,312 $ 613 December 31, 2020 Recorded Unpaid Related (Dollars in thousands) With no related allowance recorded: Commercial and Industrial $ 37 $ 37 $ — Construction — — — Real Estate Mortgage: Commercial – Owner Occupied 2,853 2,853 — Commercial – Non-owner Occupied 69 69 — Residential – 1 to 4 Family 899 899 — Residential – Multifamily 55 55 — Consumer — — — 3,913 3,913 — With an allowance recorded: Commercial and Industrial 12 19 12 Construction 4,840 9,330 301 Real Estate Mortgage: Commercial – Owner Occupied 2,882 2,882 200 Commercial – Non-owner Occupied 10,040 10,040 350 Residential – 1 to 4 Family 976 976 141 Residential – Multifamily — — — Consumer — — — 18,750 23,247 1,004 Total: Commercial and Industrial 49 56 12 Construction 4,840 9,330 301 Real Estate Mortgage: Commercial – Owner Occupied 5,735 5,735 200 Commercial – Non-owner Occupied 10,109 10,109 350 Residential – 1 to 4 Family 1,875 1,875 141 Residential – Multifamily 55 55 — Consumer — — — $ 22,663 $ 27,160 $ 1,004 The following table presents by loan portfolio class, the average recorded investment and interest income recognized on impaired loans for the three and nine months ended September 30, 2021 and 2020: Three Months Ended September 30, 2021 2020 Average Interest Average Interest (Dollars in thousands) Commercial and Industrial $ 48 $ — $ 221 $ 1 Construction 1,290 — 4,990 40 Real Estate Mortgage: Commercial – Owner Occupied 2,446 3 7,515 14 Commercial – Non-owner Occupied 5,651 123 10,240 158 Residential – 1 to 4 Family 1,332 8 2,994 33 Residential – Multifamily — — — — Consumer 178 2 — — Total $ 10,945 $ 136 $ 25,960 $ 246 Nine Months Ended September 30, 2021 2020 Average Interest Average Interest (Dollars in thousands) Commercial and Industrial $ 48 $ 1 $ 281 $ 13 Construction 1,309 — 5,020 119 Real Estate Mortgage: Commercial – Owner Occupied 2,447 10 6,167 95 Commercial – Non-owner Occupied 5,662 256 10,302 312 Residential – 1 to 4 Family 1,377 24 2,314 87 Residential – Multifamily — — — — Consumer 178 4 — — Total $ 11,021 $ 295 $ 24,084 $ 626
Analysis of Credit Risk Profile by Internally Assigned Grades	An analysis of the credit risk profile by internally assigned grades as of September 30, 2021 and December 31, 2020 is as follows: At September 30, 2021 Pass OAEM Substandard Doubtful Total (Dollars in thousands) Commercial and Industrial $ 66,230 $ — $ 47 $ — $ 66,277 Construction 170,012 — 1,139 — 171,151 Real Estate Mortgage: Commercial – Owner Occupied 122,153 3,029 2,170 — 127,352 Commercial – Non-owner Occupied 297,208 14,380 309 — 311,897 Residential – 1 to 4 Family 710,810 449 649 — 711,908 Residential – Multifamily 76,522 — — — 76,522 Consumer 8,531 — 178 — 8,709 Total $ 1,451,466 $ 17,858 $ 4,492 $ — $ 1,473,816 At December 31, 2020 Pass OAEM Substandard Doubtful Total (Dollars in thousands) Commercial and Industrial $ 121,715 $ 43 $ 50 $ — $ 121,808 Construction 209,648 — 1,365 — 211,013 Real Estate Mortgage: Commercial – Owner Occupied 123,657 3,029 5,521 — 132,207 Commercial – Non-owner Occupied 324,649 — 191 — 324,840 Residential – 1 to 4 Family 668,593 462 1,772 — 670,827 Residential – Multifamily 94,748 — — — 94,748 Consumer 10,309 — 55 — 10,364 Total $ 1,553,319 $ 3,534 $ 8,954 $ — $ 1,565,807

EQUITY AND CHANGES IN OTHER C_2

EQUITY AND CHANGES IN OTHER COMPREHENSIVE INCOME (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Accumulated Other Comprehensive Income	The changes in accumulated other comprehensive income (loss) consisted of the following for the nine months ended September 30, 2021 and 2020: For the Three Months Ended 2021 2020 (Dollars in thousands) Investment securities: Net unrealized losses arising during the period $ (30) $ (184) Tax effect related to the unrealized loss during the periods 8 45 (Loss) in other comprehensive income $ (22) $ (139) For the Nine Months Ended September 30, 2021 2020 (Dollars in thousands) Investment securities: Net unrealized (losses) gains arising during the period $ (156) $ 590 Tax effect related to the unrealized (loss) gain during the periods 40 (145) Change in other comprehensive income $ (116) $ 445

EARNINGS PER SHARE ("EPS") (Tab

EARNINGS PER SHARE ("EPS") (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Calculation of Basic and Diluted EPS	The following tables set forth the calculation of basic and diluted EPS for the three and nine-month periods ended September 30, 2021 and 2020. Three months ended September 30, Nine months ended September 30, 2021 2020 2021 2020 (Dollars in thousands except share and per share data) Basic earnings per common share Net income available to the Company $ 10,501 $ 6,543 $ 30,687 $ 20,296 Less: Dividend on series B preferred stock (7) (7) (21) (22) Net income available to common shareholders 10,494 6,536 30,666 20,274 Basic weighted-average common shares outstanding 11,893,323 11,850,882 11,885,709 11,849,659 Basic earnings per common share $ 0.88 $ 0.55 $ 2.58 $ 1.71 Diluted earnings per common share Net income available to common shares $ 10,494 $ 6,536 $ 30,666 $ 20,274 Add: Dividend on series B preferred stock 7 7 21 22 Net income available to diluted common shares 10,501 6,543 30,687 20,296 Basic weighted-average common shares outstanding 11,893,323 11,850,882 11,885,709 11,849,659 Dilutive potential common shares 232,305 124,212 229,680 137,305 Diluted weighted-average common shares outstanding 12,125,628 11,975,094 12,115,389 11,986,964 Diluted earnings per common share $ 0.87 $ 0.55 $ 2.53 $ 1.69

FAIR VALUE (Tables)

FAIR VALUE (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	The table below presents the balances of assets and liabilities measured at fair value on a recurring basis. Financial Assets Level 1 Level 2 Level 3 Total (Dollars in thousands) Available for Sale Securities and Loans Held for Sale As of September 30, 2021 Corporate debt obligations $ — $ 500 $ — $ 500 Residential mortgage-backed securities — 14,160 — 14,160 Collateralized mortgage-backed securities — 13 — 13 Loans held for sale — — — — Total $ — $ 14,673 $ — $ 14,673 As of December 31, 2020 Corporate debt obligations $ — $ 500 $ — $ 500 Residential mortgage-backed securities — 19,359 — 19,359 Collateralized mortgage-backed securities — 23 — 23 Loans held for sale — 200 — 200 Total $ — $ 20,082 $ — $ 20,082
Fair Value on a Non-recurring Basis	Certain assets and liabilities are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). Financial Assets Level 1 Level 2 Level 3 Total (Dollars in thousands) As of September 30, 2021 Collateral-dependent impaired loans $ — $ — $ 4,181 $ 4,181 OREO — — 1,756 1,756 As of December 31, 2020 Collateral-dependent impaired loans $ — $ — $ 11,558 $ 11,558 OREO — — 139 139
Summary of Carrying Value and Fair Value of Financial Instruments	The following table summarizes the carrying amounts and fair values for financial instruments at September 30, 2021 and December 31, 2020: September 30, 2021 Carrying Amount Fair Value Total Level 1 Level 2 Level 3 (Dollars in thousands) Financial Assets: Cash and cash equivalents $ 623,825 $ 623,825 $ 623,825 $ — $ — Investment securities AFS 14,673 14,673 — 14,673 — Investment securities HTM 9,962 10,078 — 10,078 — Restricted stock 5,729 5,729 — — 5,729 Loans held for sale — — — — — Loans, net 1,443,978 1,442,130 — 1,436,497 5,633 Accrued interest receivable 7,753 7,753 — 7,753 — Financial Liabilities: Non-time deposits $ 1,113,627 $ 1,113,627 $ — $ 1,113,627 $ — Time deposits 667,613 671,994 — 671,994 — Borrowings 133,834 131,106 — 131,106 — Accrued interest payable 1,248 1,248 — 1,248 — December 31, 2020 Carrying Amount Fair Value Total Level 1 Level 2 Level 3 (Dollars in thousands) Financial Assets: Cash and cash equivalents $ 458,601 $ 458,601 $ 458,601 $ — $ — Investment securities AFS 19,882 19,882 — 19,882 — Investment securities HTM 1,224 1,530 — 1,530 — Restricted stock 7,542 7,542 — — 7,542 Loans held for sale 200 200 — 200 — Loans, net 1,536,109 1,555,509 — 1,533,850 21,659 Accrued interest receivable 8,772 8,772 — 8,772 — Financial Liabilities: Non-time deposits $ 925,113 $ 925,113 $ — $ 925,113 $ — Time deposits 667,330 672,385 — 672,385 — Borrowings 267,218 265,119 — 265,119 — Accrued interest payable 2,338 2,338 — 2,338 —

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Schedule of Assets and Liabilities, Lessee	The following table presents information about our operating leases at the year ended September 30, 2021: September 30, 2021 (Dollars in thousands) Lease right of use ("ROU") assets $ 2,122 Lease liabilities $ 2,122
Schedule of Future Undiscounted Cash Flows on Operating Leases	The following table presents future undiscounted cash flows on our operating leases: September 30, 2021 (Dollars in thousands) Remainder of 2021 $ 83 2022 330 2023 250 2024 262 2025 262 Thereafter 25,877 Total undiscounted lease payments $ 27,064

REGULATORY MATTERS (Tables)

REGULATORY MATTERS (Tables)	9 Months Ended
	Sep. 30, 2021
Banking and Thrift, Other Disclosures [Abstract]
Quantitative Measures Established by Regulation to Ensure Capital Adequacy Minimum Amounts and Ratios	The leverage ratios of the Company and the Bank at September 30, 2021 are as follows: Regulatory Capital Compliance As of September 30, 2021 Actual For Capital Adequacy (Dollars in thousands except ratios) Amount Ratio Amount Ratio Company: Tier 1 leverage $ 238,743 11.34 % $ 178,975 8.50 % Parke Bank: Tier 1 leverage $ 267,546 12.83 % $ 177,187 8.50 % The Company and Bank's regulatory capital as of December 31, 2020, is presented in the following table. As of December 31, 2020 Actual For Capital Adequacy (Dollars in thousands except ratios) Amount Ratio Amount Ratio Company: Total risk-based capital $ 261,143 20.61 % $ 101,365 8.00 % Tier 1 risk-based capital 215,134 16.98 % 76,024 6.00 % Tier 1 leverage 215,134 10.90 % 157,968 8.00 % Tier 1 common equity 200,003 15.78 % 57,018 4.50 % Parke Bank: Tier 1 leverage 243,899 12.35 % 157,936 8.00 % * Combination of both community bank leverage approach and the regular rule of capital adequacy.

ORGANIZATION (Details)

ORGANIZATION (Details)	9 Months Ended
	Sep. 30, 2021branch
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Date of commencement of operations	Jan. 28, 1999
Number of additional branch office locations	7

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Sep. 30, 2021
Parke Direct Lending LLC
Noncontrolling Interest [Line Items]
Joint venture, ownership percentage	51.00%

INVESTMENT SECURITIES - Summary

INVESTMENT SECURITIES - Summary of Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Available for sale:
Amortized cost	$ 14,205	$ 19,258
Gross unrealized gains	497	647
Gross unrealized losses	29	23
Fair value	14,673	19,882
Held to maturity:
Amortized cost	9,962	1,224
Gross unrealized gains	248
Gross unrealized losses	132
Fair value	10,078	1,530
Corporate debt obligations
Available for sale:
Amortized cost	500	500
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Fair value	500	500
Residential mortgage-backed securities
Available for sale:
Amortized cost	13,692	18,736
Gross unrealized gains	497	646
Gross unrealized losses	29	23
Fair value	14,160	19,359
Held to maturity:
Amortized cost	6,215
Gross unrealized gains	0
Gross unrealized losses	85
Fair value	6,130
Collateralized mortgage obligations
Available for sale:
Amortized cost	13	22
Gross unrealized gains	0	1
Gross unrealized losses	0	0
Fair value	13	23
States and political subdivisions
Held to maturity:
Amortized cost	3,747	1,224
Gross unrealized gains	248	306
Gross unrealized losses	47	0
Fair value	$ 3,948	$ 1,530

INVESTMENT SECURITIES - Amortiz

INVESTMENT SECURITIES - Amortized Cost and Fair Value of Debt Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Amortized Cost
Due within one year	$ 19
Due after one year through five years	500
Due after five years through ten years	8,011
Due after ten years	5,675
Amortized cost	14,205	$ 19,258
Fair Value
Due within one year	18
Due after one year through five years	500
Due after five years through ten years	8,252
Due after ten years	5,903
Total available for sale	14,673	19,882
Amortized Cost
Due within one year	0
Due after one year through five years	0
Due after five years through ten years	1,268
Due after ten years	8,694
Amortized cost	9,962	1,224
Fair Value
Due within one year	0
Due after one year through five years	0
Due after five years through ten years	1,516
Due after ten years	8,562
Total held to maturity	$ 10,078	$ 1,530

INVESTMENT SECURITIES - Gross U

INVESTMENT SECURITIES - Gross Unrealized Losses and Fair Value of Investments with Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Available for sale:
Less Than 12 Months, Fair Value	$ 190	$ 2,142
12 Months or Greater, Fair value	1,558	215
Total, Fair Value	1,748	2,357
Less Than 12 Months, Unrealized Losses	0	20
12 Months or Greater, Unrealized Losses	29	3
Total, Unrealized Losses	29	23
Held to maturity:
Less Than 12 Months, Fair Value	8,562
12 Months or Greater, Fair value	0
Total, Fair Value	8,562
Less Than 12 Months, Unrealized Losses	132
12 Months or Greater, Unrealized Losses	0
Total, Unrealized Losses	132
Residential mortgage-backed securities
Available for sale:
Less Than 12 Months, Fair Value	190	2,142
12 Months or Greater, Fair value	1,558	215
Total, Fair Value	1,748	2,357
Less Than 12 Months, Unrealized Losses	0	20
12 Months or Greater, Unrealized Losses	29	3
Total, Unrealized Losses	29	$ 23
Held to maturity:
Less Than 12 Months, Fair Value	6,130
12 Months or Greater, Fair value	0
Total, Fair Value	6,130
Less Than 12 Months, Unrealized Losses	85
12 Months or Greater, Unrealized Losses	0
Total, Unrealized Losses	85
States and political subdivisions
Held to maturity:
Less Than 12 Months, Fair Value	2,432
12 Months or Greater, Fair value	0
Total, Fair Value	2,432
Less Than 12 Months, Unrealized Losses	47
12 Months or Greater, Unrealized Losses	0
Total, Unrealized Losses	$ 47

INVESTMENT SECURITIES - Narrati

INVESTMENT SECURITIES - Narrative (Details) - Residential mortgage-backed securities - security	Sep. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Number of debt securities, loss position, less than 12 months	5	2
Number of debt securities, loss position, 12 months or greater	3	2

LOANS AND ALLOWANCE FOR LOAN _3

LOANS AND ALLOWANCE FOR LOAN LOSSES - Portfolio of Loans Outstanding (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	$ 1,473,816,000	$ 1,565,807,000	$ 1,574,611,000
Unearned income, net deferred loan fees and unamortized discounts and premiums	1,200,000	(200,000)
Loans held for sale	0	200,000
SBA PPP
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	37,000,000	91,200,000
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	66,277,000	121,808,000	126,508,000
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	171,151,000	211,013,000	263,874,000
Real Estate Mortgage | Commercial – Owner Occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	127,352,000	132,207,000	136,497,000
Real Estate Mortgage | Commercial – Non-owner Occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	311,897,000	324,840,000	301,034,000
Real Estate Mortgage | Residential – 1 to 4 Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	711,908,000	670,827,000	650,894,000
Real Estate Mortgage | Residential – Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	76,522,000	94,748,000	84,819,000
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	$ 8,709,000	$ 10,364,000	$ 10,985,000

LOANS AND ALLOWANCE FOR LOAN _4

LOANS AND ALLOWANCE FOR LOAN LOSSES - Nonaccrual and Past Due Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	$ 1,473,816	$ 1,565,807	$ 1,574,611
Loans > 90 Days and Accruing	0	0
Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	4,659	11,479
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	45
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	259	2,705
Greater than 90 Days and Not Accruing
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	4,400	8,729
Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,469,157	1,554,328
Commercial and Industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	66,277	121,808	126,508
Loans > 90 Days and Accruing	0	0
Commercial and Industrial | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	143	50
Commercial and Industrial | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0
Commercial and Industrial | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	96	0
Commercial and Industrial | Greater than 90 Days and Not Accruing
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	47	50
Commercial and Industrial | Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	66,134	121,758
Construction
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	171,151	211,013	263,874
Loans > 90 Days and Accruing	0	0
Construction | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,139	1,365
Construction | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0
Construction | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0
Construction | Greater than 90 Days and Not Accruing
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,139	1,365
Construction | Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	170,012	209,648
Real Estate Mortgage | Commercial – Owner Occupied
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	127,352	132,207	136,497
Loans > 90 Days and Accruing	0	0
Real Estate Mortgage | Commercial – Owner Occupied | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	2,170	6,692
Real Estate Mortgage | Commercial – Owner Occupied | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage | Commercial – Owner Occupied | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	1,171
Real Estate Mortgage | Commercial – Owner Occupied | Greater than 90 Days and Not Accruing
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	2,170	5,521
Real Estate Mortgage | Commercial – Owner Occupied | Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	125,182	125,515
Real Estate Mortgage | Commercial – Non-owner Occupied
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	311,897	324,840	301,034
Loans > 90 Days and Accruing	0	0
Real Estate Mortgage | Commercial – Non-owner Occupied | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	309	941
Real Estate Mortgage | Commercial – Non-owner Occupied | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage | Commercial – Non-owner Occupied | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	872
Real Estate Mortgage | Commercial – Non-owner Occupied | Greater than 90 Days and Not Accruing
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	309	69
Real Estate Mortgage | Commercial – Non-owner Occupied | Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	311,588	323,899
Real Estate Mortgage | Residential – 1 to 4 Family
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	711,908	670,827	650,894
Loans > 90 Days and Accruing	0	0
Real Estate Mortgage | Residential – 1 to 4 Family | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	720	2,331
Real Estate Mortgage | Residential – 1 to 4 Family | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage | Residential – 1 to 4 Family | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	163	662
Real Estate Mortgage | Residential – 1 to 4 Family | Greater than 90 Days and Not Accruing
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	557	1,669
Real Estate Mortgage | Residential – 1 to 4 Family | Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	711,188	668,496
Real Estate Mortgage | Residential – Multifamily
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	76,522	94,748	84,819
Loans > 90 Days and Accruing	0	0
Real Estate Mortgage | Residential – Multifamily | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage | Residential – Multifamily | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage | Residential – Multifamily | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage | Residential – Multifamily | Greater than 90 Days and Not Accruing
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage | Residential – Multifamily | Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	76,522	94,748
Consumer
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	8,709	10,364	$ 10,985
Loans > 90 Days and Accruing	0	0
Consumer | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	178	100
Consumer | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	45
Consumer | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0
Consumer | Greater than 90 Days and Not Accruing
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	178	55
Consumer | Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	$ 8,531	$ 10,264

LOANS AND ALLOWANCE FOR LOAN _5

LOANS AND ALLOWANCE FOR LOAN LOSSES - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Allowance for Loan Losses [Roll Forward]
Beginning Balance	$ 30,068	$ 25,228	$ 29,698	$ 21,811
Charge-offs	(275)	(54)	(428)	(54)
Recoveries	44	14	68	35
Provisions (benefits)	1	2,400	500	5,796
Ending Balance	29,838	27,588	29,838	27,588
Allowance for loan losses
Individually evaluated for impairment	613	1,107	613	1,107
Collectively evaluated for impairment	29,225	26,481	29,225	26,481
Allowance for loan losses	29,838	27,588	29,838	27,588	$ 29,698
Loans
Individually evaluated for impairment	10,454	25,595	10,454	25,595
Collectively evaluated for impairment	1,463,362	1,549,016	1,463,362	1,549,016
Total Loans	1,473,816	1,574,611	1,473,816	1,574,611	1,565,807
Commercial and Industrial
Allowance for Loan Losses [Roll Forward]
Beginning Balance	312	987	492	964
Charge-offs	0	0	0	0
Recoveries	2	11	15	18
Provisions (benefits)	95	(385)	(98)	(369)
Ending Balance	409	613	409	613
Allowance for loan losses
Individually evaluated for impairment	9	78	9	78
Collectively evaluated for impairment	400	535	400	535
Allowance for loan losses	409	613	409	613	492
Loans
Individually evaluated for impairment	47	116	47	116
Collectively evaluated for impairment	66,230	126,392	66,230	126,392
Total Loans	66,277	126,508	66,277	126,508	121,808
Construction
Allowance for Loan Losses [Roll Forward]
Beginning Balance	3,482	3,660	3,359	2,807
Charge-offs	(226)	0	(226)	0
Recoveries	0	0	0	0
Provisions (benefits)	(349)	1,284	(226)	2,137
Ending Balance	2,907	4,944	2,907	4,944
Allowance for loan losses
Individually evaluated for impairment	300	334	300	334
Collectively evaluated for impairment	2,607	4,610	2,607	4,610
Allowance for loan losses	2,907	4,944	2,907	4,944	3,359
Loans
Individually evaluated for impairment	1,139	4,990	1,139	4,990
Collectively evaluated for impairment	170,012	258,884	170,012	258,884
Total Loans	171,151	263,874	171,151	263,874	211,013
Real Estate Mortgage | Commercial Owner Occupied
Allowance for Loan Losses [Roll Forward]
Beginning Balance	3,502	2,414	3,078	2,023
Charge-offs	0	0	(153)	0
Recoveries	38	1	49	9
Provisions (benefits)	(105)	421	461	804
Ending Balance	3,435	2,836	3,435	2,836
Allowance for loan losses
Individually evaluated for impairment	6	257	6	257
Collectively evaluated for impairment	3,429	2,579	3,429	2,579
Allowance for loan losses	3,435	2,836	3,435	2,836	3,078
Loans
Individually evaluated for impairment	2,443	7,447	2,443	7,447
Collectively evaluated for impairment	124,909	129,050	124,909	129,050
Total Loans	127,352	136,497	127,352	136,497	132,207
Real Estate Mortgage | Commercial Non-owner Occupied
Allowance for Loan Losses [Roll Forward]
Beginning Balance	8,514	6,181	8,398	5,860
Charge-offs	0	0	0	0
Recoveries	4	2	4	8
Provisions (benefits)	(350)	648	(234)	963
Ending Balance	8,168	6,831	8,168	6,831
Allowance for loan losses
Individually evaluated for impairment	235	377	235	377
Collectively evaluated for impairment	7,933	6,454	7,933	6,454
Allowance for loan losses	8,168	6,831	8,168	6,831	8,398
Loans
Individually evaluated for impairment	5,625	10,187	5,625	10,187
Collectively evaluated for impairment	306,272	290,847	306,272	290,847
Total Loans	311,897	301,034	311,897	301,034	324,840
Real Estate Mortgage | Residential 1 to 4 Family
Allowance for Loan Losses [Roll Forward]
Beginning Balance	12,883	10,766	12,595	9,151
Charge-offs	(49)	(54)	(49)	(54)
Recoveries	0	0	0	0
Provisions (benefits)	878	(65)	1,166	1,550
Ending Balance	13,712	10,647	13,712	10,647
Allowance for loan losses
Individually evaluated for impairment	63	61	63	61
Collectively evaluated for impairment	13,649	10,586	13,649	10,586
Allowance for loan losses	13,712	10,647	13,712	10,647	12,595
Loans
Individually evaluated for impairment	1,022	2,855	1,022	2,855
Collectively evaluated for impairment	710,886	648,039	710,886	648,039
Total Loans	711,908	650,894	711,908	650,894	670,827
Real Estate Mortgage | Residential Multifamily
Allowance for Loan Losses [Roll Forward]
Beginning Balance	1,250	1,058	1,639	819
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provisions (benefits)	(166)	511	(555)	750
Ending Balance	1,084	1,569	1,084	1,569
Allowance for loan losses
Individually evaluated for impairment	0	0	0	0
Collectively evaluated for impairment	1,084	1,569	1,084	1,569
Allowance for loan losses	1,084	1,569	1,084	1,569	1,639
Loans
Individually evaluated for impairment	0	0	0	0
Collectively evaluated for impairment	76,522	84,819	76,522	84,819
Total Loans	76,522	84,819	76,522	84,819	94,748
Consumer
Allowance for Loan Losses [Roll Forward]
Beginning Balance	125	162	137	187
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provisions (benefits)	(2)	(14)	(14)	(39)
Ending Balance	123	148	123	148
Allowance for loan losses
Individually evaluated for impairment	0	0	0	0
Collectively evaluated for impairment	123	148	123	148
Allowance for loan losses	123	148	123	148	137
Loans
Individually evaluated for impairment	178	0	178	0
Collectively evaluated for impairment	8,531	10,985	8,531	10,985
Total Loans	$ 8,709	$ 10,985	$ 8,709	$ 10,985	$ 10,364

LOANS AND ALLOWANCE FOR LOAN _6

LOANS AND ALLOWANCE FOR LOAN LOSSES - Impaired Loans and Troubled Debt Restructurings (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Receivables [Abstract]
Minimum period for a loan past due to be classified under non accrual status			90 days
Recorded Investment
With no related allowance recorded	$ 3,115		$ 3,115		$ 3,913
With an allowance recorded	7,339		7,339		18,750
Total recorded investment	10,454		10,454		22,663
Unpaid Principal Balance
With no related allowance recorded	3,248		3,248		3,913
With an allowance recorded	12,064		12,064		23,247
Total unpaid principal balance	15,312		15,312		27,160
Related Allowance
Total related allowance	613		613		1,004
Average recorded investment and interest income recognized
Average Recorded Investment	10,945	$ 25,960	11,021	$ 24,084
Interest Income Recognized	136	246	295	626
Commercial and Industrial
Recorded Investment
With no related allowance recorded	38		38		37
With an allowance recorded	9		9		12
Total recorded investment	47		47		49
Unpaid Principal Balance
With no related allowance recorded	38		38		37
With an allowance recorded	17		17		19
Total unpaid principal balance	55		55		56
Related Allowance
Total related allowance	9		9		12
Average recorded investment and interest income recognized
Average Recorded Investment	48	221	48	281
Interest Income Recognized	0	1	1	13
Construction
Recorded Investment
With no related allowance recorded	0		0		0
With an allowance recorded	1,139		1,139		4,840
Total recorded investment	1,139		1,139		4,840
Unpaid Principal Balance
With no related allowance recorded	0		0		0
With an allowance recorded	5,856		5,856		9,330
Total unpaid principal balance	5,856		5,856		9,330
Related Allowance
Total related allowance	300		300		301
Average recorded investment and interest income recognized
Average Recorded Investment	1,290	4,990	1,309	5,020
Interest Income Recognized	0	40	0	119
Real Estate Mortgage | Commercial – Owner Occupied
Recorded Investment
With no related allowance recorded	2,238		2,238		2,853
With an allowance recorded	205		205		2,882
Total recorded investment	2,443		2,443		5,735
Unpaid Principal Balance
With no related allowance recorded	2,238		2,238		2,853
With an allowance recorded	205		205		2,882
Total unpaid principal balance	2,443		2,443		5,735
Related Allowance
Total related allowance	6		6		200
Average recorded investment and interest income recognized
Average Recorded Investment	2,446	7,515	2,447	6,167
Interest Income Recognized	3	14	10	95
Real Estate Mortgage | Commercial – Non-owner Occupied
Recorded Investment
With no related allowance recorded	173		173		69
With an allowance recorded	5,452		5,452		10,040
Total recorded investment	5,625		5,625		10,109
Unpaid Principal Balance
With no related allowance recorded	173		173		69
With an allowance recorded	5,452		5,452		10,040
Total unpaid principal balance	5,625		5,625		10,109
Related Allowance
Total related allowance	235		235		350
Average recorded investment and interest income recognized
Average Recorded Investment	5,651	10,240	5,662	10,302
Interest Income Recognized	123	158	256	312
Real Estate Mortgage | Residential – 1 to 4 Family
Recorded Investment
With no related allowance recorded	488		488		899
With an allowance recorded	534		534		976
Total recorded investment	1,022		1,022		1,875
Unpaid Principal Balance
With no related allowance recorded	621		621		899
With an allowance recorded	534		534		976
Total unpaid principal balance	1,155		1,155		1,875
Related Allowance
Total related allowance	63		63		141
Average recorded investment and interest income recognized
Average Recorded Investment	1,332	2,994	1,377	2,314
Interest Income Recognized	8	33	24	87
Real Estate Mortgage | Residential – Multifamily
Recorded Investment
With no related allowance recorded	0		0		55
With an allowance recorded	0		0		0
Total recorded investment	0		0		55
Unpaid Principal Balance
With no related allowance recorded	0		0		55
With an allowance recorded	0		0		0
Total unpaid principal balance	0		0		55
Related Allowance
Total related allowance	0		0		0
Average recorded investment and interest income recognized
Average Recorded Investment	0	0	0	0
Interest Income Recognized	0	0	0	0
Consumer
Recorded Investment
With no related allowance recorded	178		178		0
With an allowance recorded	0		0		0
Total recorded investment	178		178		0
Unpaid Principal Balance
With no related allowance recorded	178		178		0
With an allowance recorded	0		0		0
Total unpaid principal balance	178		178		0
Related Allowance
Total related allowance	0		0		$ 0
Average recorded investment and interest income recognized
Average Recorded Investment	178	0	178	0
Interest Income Recognized	$ 2	$ 0	$ 4	$ 0

LOANS AND ALLOWANCE FOR LOAN _7

LOANS AND ALLOWANCE FOR LOAN LOSSES - Troubled Debt Restructuring (Details)	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2021USD ($)loan	Sep. 30, 2021USD ($)loan	Dec. 31, 2020USD ($)loan
Receivables [Abstract]
Performing TDRs	$ 6,100,000	$ 6,100,000	$ 13,900,000
Nonperforming TDRs	$ 0	$ 0	$ 274,000
Number of loans modified as TDRs | loan	0	0	0
Current payment term		6 months
Debt coverage ratio	1.25	1.25
Number of projected future quarters under review		1 year
Allowances for performing TDRs	$ 261,006	$ 261,006	$ 420,000

LOANS AND ALLOWANCE FOR LOAN _8

LOANS AND ALLOWANCE FOR LOAN LOSSES - Credit Quality Indicators (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 1,473,816	$ 1,565,807	$ 1,574,611
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	1,451,466	1,553,319
OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	17,858	3,534
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	4,492	8,954
Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Commercial and Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	66,277	121,808	126,508
Commercial and Industrial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	66,230	121,715
Commercial and Industrial | OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	43
Commercial and Industrial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	47	50
Commercial and Industrial | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Construction
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	171,151	211,013	263,874
Construction | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	170,012	209,648
Construction | OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Construction | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	1,139	1,365
Construction | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage | Commercial – Owner Occupied
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	127,352	132,207	136,497
Real Estate Mortgage | Commercial – Owner Occupied | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	122,153	123,657
Real Estate Mortgage | Commercial – Owner Occupied | OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	3,029	3,029
Real Estate Mortgage | Commercial – Owner Occupied | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	2,170	5,521
Real Estate Mortgage | Commercial – Owner Occupied | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage | Commercial – Non-owner Occupied
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	311,897	324,840	301,034
Real Estate Mortgage | Commercial – Non-owner Occupied | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	297,208	324,649
Real Estate Mortgage | Commercial – Non-owner Occupied | OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	14,380	0
Real Estate Mortgage | Commercial – Non-owner Occupied | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	309	191
Real Estate Mortgage | Commercial – Non-owner Occupied | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage | Residential – 1 to 4 Family
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	711,908	670,827	650,894
Real Estate Mortgage | Residential – 1 to 4 Family | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	710,810	668,593
Real Estate Mortgage | Residential – 1 to 4 Family | OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	449	462
Real Estate Mortgage | Residential – 1 to 4 Family | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	649	1,772
Real Estate Mortgage | Residential – 1 to 4 Family | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage | Residential – Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	76,522	94,748	84,819
Real Estate Mortgage | Residential – Multifamily | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	76,522	94,748
Real Estate Mortgage | Residential – Multifamily | OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage | Residential – Multifamily | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage | Residential – Multifamily | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Consumer
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	8,709	10,364	$ 10,985
Consumer | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	8,531	10,309
Consumer | OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Consumer | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	178	55
Consumer | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 0	$ 0

EQUITY AND CHANGES IN OTHER C_3

EQUITY AND CHANGES IN OTHER COMPREHENSIVE INCOME - Equity (Details) - USD ($)	Sep. 22, 2021	Jun. 22, 2021	Apr. 23, 2021	Jan. 19, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Total equity					$ 225,687,000	$ 194,411,000	$ 225,687,000	$ 194,411,000	$ 217,011,000	$ 202,597,000	$ 189,741,000	$ 179,424,000
Common stock, dividends, declared (in dollars per share)	$ 0.16	$ 0.16	$ 0.16	$ 0.16
Preferred stock dividends declared					$ 7,050	7,200	21,150	22,200
Distribution of PDL earnings							$ 447,000	594,000
Corporate Joint Venture | PDL LLC
Class of Stock [Line Items]
Ownership percentage					51.00%		51.00%
Preferred Stock
Class of Stock [Line Items]
Total equity					$ 470,000	480,000	$ 470,000	$ 480,000	470,000	480,000	500,000	500,000
Shares converted (in shares)							10	20
Common Stock
Class of Stock [Line Items]
Total equity					$ 1,218,000	$ 1,214,000	$ 1,218,000	$ 1,214,000	$ 1,218,000	$ 1,214,000	$ 1,213,000	$ 1,213,000
Shares converted (in shares)							1,375	2,751

EQUITY AND CHANGES IN OTHER C_4

EQUITY AND CHANGES IN OTHER COMPREHENSIVE INCOME - Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Equity [Abstract]
Net unrealized losses arising during the period	$ (30)	$ (184)	$ (156)	$ 590
Tax effect related to the unrealized loss during the periods	8	45	40	(145)
(Loss) in other comprehensive income	$ (22)	$ (139)	$ (116)	$ 445

EARNINGS PER SHARE ("EPS") (Det

EARNINGS PER SHARE ("EPS") (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Basic earnings per common share
Net income available to the Company	$ 10,501	$ 6,543	$ 30,687	$ 20,296
Less: Dividend on series B preferred stock	(7)	(7)	(21)	(22)
Net income available to common shareholders	$ 10,494	$ 6,536	$ 30,666	$ 20,274
Basic weighted-average common shares outstanding (in shares)	11,893,323	11,850,882	11,885,709	11,849,659
Basic earnings per common share (in dollars per share)	$ 0.88	$ 0.55	$ 2.58	$ 1.71
Diluted earnings per common share
Net income available to common shares	$ 10,494	$ 6,536	$ 30,666	$ 20,274
Add: Dividend on series B preferred stock	7	7	21	22
Net income available to diluted common shares	$ 10,501	$ 6,543	$ 30,687	$ 20,296
Basic weighted-average common shares outstanding (in shares)	11,893,323	11,850,882	11,885,709	11,849,659
Dilutive potential common shares (in shares)	232,305	124,212	229,680	137,305
Diluted weighted-average common shares outstanding (in shares)	12,125,628	11,975,094	12,115,389	11,986,964
Diluted earnings per common share (in dollars per share)	$ 0.87	$ 0.55	$ 2.53	$ 1.69

FAIR VALUE - Assets and Liabili

FAIR VALUE - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for sale	$ 0	$ 200
Total	14,673	20,082
Corporate debt obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities AFS	500	500
Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities AFS	14,160	19,359
Collateralized mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities AFS	13	23
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for sale	0	0
Total	0	0
Level 1 | Corporate debt obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities AFS	0	0
Level 1 | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities AFS	0	0
Level 1 | Collateralized mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities AFS	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for sale	0	200
Total	14,673	20,082
Level 2 | Corporate debt obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities AFS	500	500
Level 2 | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities AFS	14,160	19,359
Level 2 | Collateralized mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities AFS	13	23
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for sale	0	0
Total	0	0
Level 3 | Corporate debt obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities AFS	0	0
Level 3 | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities AFS	0	0
Level 3 | Collateralized mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities AFS	$ 0	$ 0

FAIR VALUE - Fair Value on a No

FAIR VALUE - Fair Value on a Non-recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Underlying collateral less cost to sell percentage	5.00%
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Underlying collateral less cost to sell percentage	10.00%
Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent impaired loans	$ 4,181	$ 11,558
OREO	1,756	139
Nonrecurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent impaired loans	0	0
OREO	0	0
Nonrecurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent impaired loans	0	0
OREO	0	0
Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent impaired loans	4,181	11,558
OREO	$ 1,756	$ 139

FAIR VALUE - Carrying Value and

FAIR VALUE - Carrying Value and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Financial Assets:
Investment securities HTM	$ 10,078	$ 1,530
Carrying Amount
Financial Assets:
Cash and cash equivalents	623,825	458,601
Investment securities AFS	14,673	19,882
Investment securities HTM	9,962	1,224
Restricted stock	5,729	7,542
Loans held for sale	0	200
Loans, net	1,443,978	1,536,109
Accrued interest receivable	7,753	8,772
Financial Liabilities:
Non-time deposits	1,113,627	925,113
Time deposits	667,613	667,330
Borrowings	133,834	267,218
Accrued interest payable	1,248	2,338
Fair Value
Financial Assets:
Cash and cash equivalents	623,825	458,601
Investment securities AFS	14,673	19,882
Investment securities HTM	10,078	1,530
Restricted stock	5,729	7,542
Loans held for sale	0	200
Loans, net	1,442,130	1,555,509
Accrued interest receivable	7,753	8,772
Financial Liabilities:
Non-time deposits	1,113,627	925,113
Time deposits	671,994	672,385
Borrowings	131,106	265,119
Accrued interest payable	1,248	2,338
Fair Value | Level 1
Financial Assets:
Cash and cash equivalents	623,825	458,601
Investment securities AFS	0	0
Investment securities HTM	0	0
Restricted stock	0	0
Loans held for sale	0	0
Loans, net	0	0
Accrued interest receivable	0	0
Financial Liabilities:
Non-time deposits	0	0
Time deposits	0	0
Borrowings	0	0
Accrued interest payable	0	0
Fair Value | Level 2
Financial Assets:
Cash and cash equivalents	0	0
Investment securities AFS	14,673	19,882
Investment securities HTM	10,078	1,530
Restricted stock	0	0
Loans held for sale	0	200
Loans, net	1,436,497	1,533,850
Accrued interest receivable	7,753	8,772
Financial Liabilities:
Non-time deposits	1,113,627	925,113
Time deposits	671,994	672,385
Borrowings	131,106	265,119
Accrued interest payable	1,248	2,338
Fair Value | Level 3
Financial Assets:
Cash and cash equivalents	0	0
Investment securities AFS	0	0
Investment securities HTM	0	0
Restricted stock	5,729	7,542
Loans held for sale	0	0
Loans, net	5,633	21,659
Accrued interest receivable	0	0
Financial Liabilities:
Non-time deposits	0	0
Time deposits	0	0
Borrowings	0	0
Accrued interest payable	$ 0	$ 0

LEASES - Narrative (Details)

LEASES - Narrative (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)branch	Jan. 01, 2019USD ($)
Lessee, Lease, Description [Line Items]
Number of retail branches | branch	3
Remaining lease term except the land lease	6 years
Remaining lease term of land lease	84 years
Operating lease, right-of-use asset	$ 2,122
Operating lease, liability	2,122
Future minimum lease payments	$ 27,064
Weighted average remaining lease term	56 years 6 months
Weighted average discount rate	7.40%
Cumulative Effect, Period of Adoption, Adjustment
Lessee, Lease, Description [Line Items]
Operating lease, right-of-use asset		$ 2,800
Operating lease, liability		$ 2,800

LEASES - Assets and Liabilities

LEASES - Assets and Liabilities (Details) $ in Thousands	Sep. 30, 2021USD ($)
Leases [Abstract]
Lease right of use ("ROU") assets	$ 2,122
Lease liabilities	$ 2,122
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Other

LEASES - Future Undiscounted Ca

LEASES - Future Undiscounted Cash Flows on Operating Leases (Details) $ in Thousands	Sep. 30, 2021USD ($)
Leases [Abstract]
Remainder of 2021	$ 83
2022	330
2023	250
2024	262
2025	262
Thereafter	25,877
Total undiscounted lease payments	$ 27,064

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Mar. 05, 2021
Debt Instrument [Line Items]
Deposits	$ 1,781,240,000		$ 1,781,240,000		$ 1,592,443,000
Loans, net of unearned income	1,473,816,000	$ 1,574,611,000	1,473,816,000	$ 1,574,611,000	1,565,807,000
Service fees on deposit accounts	1,350,000	$ 520,000	4,173,000	$ 1,602,000
Cannabis related loan
Debt Instrument [Line Items]
Loans, net of unearned income	6,300,000		6,300,000		8,000,000
Interest income			288,000		465,000
Cannabis Customers
Debt Instrument [Line Items]
Deposits	354,500,000		$ 354,500,000		$ 259,400,000
Product concentration risk | Deposits | Cannabis Customers
Debt Instrument [Line Items]
Concentration risk, percentage			19.90%		16.30%
Product concentration risk | Medical use cannabis customers, deposit balances
Debt Instrument [Line Items]
Service fees on deposit accounts			$ 3,700,000		$ 2,200,000
Customer concentration risk | Medical use cannabis customers, deposit balances | Two customers
Debt Instrument [Line Items]
Concentration risk, percentage			20.60%		19.20%
Line of credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity						$ 40,000,000
Line of credit, outstanding	0		$ 0
Commitments to extend credit
Debt Instrument [Line Items]
Off-balance sheet commitments	120,900,000		120,900,000		$ 144,600,000
Standby letters of credit
Debt Instrument [Line Items]
Off-balance sheet commitments	$ 1,700,000		$ 1,700,000		$ 1,700,000

REGULATORY MATTERS - (Details)

REGULATORY MATTERS - (Details) $ in Thousands	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Parke Bancorp, Inc.
Total risk-based capital
Total risk-based capital, Actual, Amount		$ 261,143
Total risk-based capital, For Capital Adequacy Purposes, Amount		$ 101,365
Total Risk Based Capital and Tier 1 Capital (to Risk Weighted Assets)
Total risk-based capital, Actual, Ratio		0.2061
Total risk-based capital, For Capital Adequacy Purposes, Ratio		0.0800
Tier 1 Capital, Actual, Ratio		0.1698
Tier 1 Capital, For Capital Adequacy Purposes, Ratio		0.0600
Tier 1 risk-based capital
Tier 1 risk-based capital, Actual, Amount		$ 215,134
Tier 1 risk-based capital, For Capital Adequacy Purposes, Amount		76,024
Tier 1 leverage (Amount)
Tier 1 leverage, Actual, Amount	$ 238,743	215,134
Tier 1 leverage, For Capital Adequacy Purposes, Amount	$ 178,975	$ 157,968
Tier 1 leverage (Ratio)
Tier 1 leverage, Actual, Ratio	0.1134	0.1090
Tier 1 leverage, For Capital Adequacy Purposes, Ratio	0.0850	0.0800
Tier 1 common equity
Tier 1 common equity, Actual, Amount		$ 200,003
Tier 1 common equity, Actual, Ratio		0.1578
Tier 1 common equity, For Capital Adequacy Purpose, Amount		$ 57,018
Tier 1 common equity, For Capital Adequacy Purpose, Ratio		4.50%
Parke Bank
Tier 1 leverage (Amount)
Tier 1 leverage, Actual, Amount	$ 267,546	$ 243,899
Tier 1 leverage, For Capital Adequacy Purposes, Amount	$ 177,187	$ 157,936
Tier 1 leverage (Ratio)
Tier 1 leverage, Actual, Ratio	0.1283	0.1235
Tier 1 leverage, For Capital Adequacy Purposes, Ratio	0.0850	0.0800