Parke Bancorp (PKBK) 10-Q 8 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Aug. 08, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
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)		11,914,961
Entity Central Index Key	0001315399
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Assets
Cash and due from banks	$ 21,157	$ 25,321
Interest bearing deposits with banks	372,084	571,232
Cash and cash equivalents	393,241	596,553
Investment securities available for sale, at fair value	10,903	13,351
Investment securities held to maturity (fair value of $— at June 30, 2022 and $10,025 at December 31, 2021)	9,738	9,918
Total investment securities	20,641	23,269
Loans, net of unearned income	1,548,133	1,484,847
Less: Allowance for loan losses	(30,448)	(29,845)
Net loans	1,517,685	1,455,002
Accrued interest receivable	7,386	7,681
Premises and equipment, net	6,088	6,265
Restricted stock	5,226	5,144
Bank owned life insurance (BOLI)	27,856	27,577
Deferred tax asset	7,767	7,608
Other	4,493	7,346
Total assets	1,990,383	2,136,445
Deposits
Noninterest-bearing deposits	453,299	553,810
Interest-bearing deposits	1,153,007	1,214,600
Total deposits	1,606,306	1,768,410
FHLBNY borrowings	78,150	78,150
Subordinated debentures	42,826	42,732
Accrued interest payable	1,485	1,603
Other	12,499	13,189
Total liabilities	1,741,266	1,904,084
Equity
Preferred stock, 1,000,000 shares authorized, $1,000 liquidation value Series B non-cumulative convertible; 445 shares and 445 shares outstanding at June 30, 2022 and December 31, 2021, respectively	445	445
Common stock, $0.10 par value; authorized 15,000,000 shares; Issued: 12,199,483 shares and 12,182,081 shares at June 30, 2022 and December 31, 2021, respectively	1,220	1,218
Additional paid-in capital	135,709	135,451
Retained earnings	115,020	98,017
Accumulated other comprehensive (loss) income	(262)	245
Treasury stock, 284,522 shares at June 30, 2022 and Dec. 31, 2021, at cost	(3,015)	(3,015)
Total shareholders’ equity	249,117	232,361
Total liabilities and equity	$ 1,990,383	$ 2,136,445

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Investment securities held to maturity, fair value	$ 8,408	$ 10,025
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)	445	445
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)	12,199,483	12,182,081
Treasury stock, shares (in shares)	284,522	284,522

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Interest income:
Interest and fees on loans	$ 19,458	$ 21,053	$ 38,656	$ 41,291
Interest and dividends on investments	182	182	371	382
Interest on deposits with banks	865	131	1,115	254
Total interest income	20,505	21,366	40,142	41,927
Interest expense:
Interest on deposits	1,809	2,472	3,650	5,299
Interest on borrowings	722	811	1,418	1,739
Total interest expense	2,531	3,283	5,068	7,038
Net interest income	17,974	18,083	35,074	34,889
Provision for loan losses	350	0	350	500
Net interest income after provision for loan losses	17,624	18,083	34,724	34,389
Non-interest income
Service fees on deposit accounts	1,313	1,212	2,629	2,824
Gain on sale of SBA loans	22	79	22	124
Other loan fees	441	331	716	595
Bank owned life insurance income	141	143	279	283
Net gain on sale and valuation adjustment of OREO	281	72	328	51
Other	316	257	616	452
Total non-interest income	2,514	2,094	4,590	4,329
Non-interest expense
Compensation and benefits	2,458	2,455	5,146	5,080
Professional services	541	889	1,092	1,742
Occupancy and equipment	624	606	1,269	1,150
Data processing	313	337	637	682
FDIC insurance and other assessments	259	311	546	572
OREO expense	56	113	90	127
Other operating expense	1,460	1,009	2,610	2,136
Total non-interest expense	5,711	5,720	11,390	11,489
Income before income tax expense	14,427	14,457	27,924	27,229
Income tax expense	3,689	3,633	7,095	6,879
Net income attributable to Company and noncontrolling interest	10,738	10,824	20,829	20,350
Less: Net income attributable to noncontrolling interest	0	(67)	0	(164)
Net income attributable to Company	10,738	10,757	20,829	20,186
Less: Preferred stock dividend	(7)	(7)	(14)	(14)
Net income available to common shareholders	$ 10,731	$ 10,750	$ 20,815	$ 20,172
Earnings per common share
Basic (in dollars per share)	$ 0.90	$ 0.90	$ 1.75	$ 1.70
Diluted (in dollars per share)	$ 0.88	$ 0.89	$ 1.71	$ 1.67
Weighted average common shares outstanding
Basic (in shares)	11,914,454	11,891,558	11,909,892	11,881,902
Diluted (in shares)	12,185,252	12,111,693	12,182,786	12,110,269

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 10,738	$ 10,824	$ 20,829	$ 20,350
Unrealized losses on investment securities, net of reclassification into income:
Unrealized losses on non-OTTI securities	(99)	(15)	(683)	(127)
Tax impact on unrealized loss	25	4	176	33
Total unrealized losses on investment securities	(74)	(11)	(507)	(94)
Comprehensive income	10,664	10,813	20,322	20,256
Less: Comprehensive income attributable to noncontrolling interests	0	(67)	0	(164)
Comprehensive income attributable to the Company	$ 10,664	$ 10,746	$ 20,322	$ 20,092

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Total Shareholders' Equity	Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Treasury Stock	Non-Controlling Interest
Beginning balance at Dec. 31, 2020	$ 202,597	$ 200,925	$ 480	$ 1,214	$ 134,989	$ 66,794	$ 463	$ (3,015)	$ 1,672
Beginning balance (in shares) at Dec. 31, 2020				12,136,567
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	20,350	20,186				20,186			164
Earnings distribution to non-controlling interest	(447)								(447)
Common stock options exercised (in shares)				39,823
Common stock options exercised	214	214		$ 4	210
Preferred stock shares conversion	0		(10)		10
Preferred stock shares conversion (in shares)				1,375
Other comprehensive loss	(94)	(94)					(94)
Stock compensation expense	109	109			109
Dividend on preferred stock	(14)	(14)				(14)
Dividend on common stock	(5,704)	(5,704)				(5,704)
Ending balance at Jun. 30, 2021	217,011	215,622	470	$ 1,218	135,318	81,262	369	(3,015)	1,389
Ending balance (in shares) at Jun. 30, 2021				12,177,765
Beginning balance at Mar. 31, 2021	209,944	208,622	470	$ 1,217	135,246	74,324	380	(3,015)	1,322
Beginning balance (in shares) at Mar. 31, 2021				12,167,887
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	10,824	10,757				10,757			67
Common stock options exercised (in shares)				9,878
Common stock options exercised	14	14		$ 1	13
Other comprehensive loss	(11)	(11)					(11)
Stock compensation expense	59	59			59
Dividend on preferred stock	(14)	(14)				(14)
Dividend on common stock	(3,805)	(3,805)				(3,805)
Ending balance at Jun. 30, 2021	217,011	215,622	470	$ 1,218	135,318	81,262	369	(3,015)	1,389
Ending balance (in shares) at Jun. 30, 2021				12,177,765
Beginning balance at Dec. 31, 2021	232,361	232,361	445	$ 1,218	135,451	98,017	245	(3,015)	0
Beginning balance (in shares) at Dec. 31, 2021				12,182,081
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	20,829	20,829				20,829
Common stock options exercised (in shares)				17,402
Common stock options exercised	125	125		$ 2	123
Other comprehensive loss	(507)	(507)					(507)
Stock compensation expense	135	135			135
Dividend on preferred stock	(14)	(14)				(14)
Dividend on common stock	(3,812)	(3,812)				(3,812)
Ending balance at Jun. 30, 2022	249,117	249,117	445	$ 1,220	135,709	115,020	(262)	(3,015)	0
Ending balance (in shares) at Jun. 30, 2022				12,199,483
Beginning balance at Mar. 31, 2022	240,279	240,279	445	$ 1,220	135,623	106,194	(188)	(3,015)	0
Beginning balance (in shares) at Mar. 31, 2022				12,198,019
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	10,738	10,738				10,738
Common stock options exercised (in shares)				1,464
Common stock options exercised	11	11			11
Other comprehensive loss	(74)	(74)					(74)
Stock compensation expense	75	75			75
Dividend on preferred stock	(7)	(7)				(7)
Dividend on common stock	(1,905)	(1,905)				(1,905)
Ending balance at Jun. 30, 2022	$ 249,117	$ 249,117	$ 445	$ 1,220	$ 135,709	$ 115,020	$ (262)	$ (3,015)	$ 0
Ending balance (in shares) at Jun. 30, 2022				12,199,483

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash Flows from Operating Activities:
Net income	$ 20,829	$ 20,350
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	327	345
Provisions (benefits)	350	500
Increase in value of bank-owned life insurance	(279)	(283)
Gain on sale of SBA loans	(22)	(124)
SBA loans originated for sale	(261)	(902)
Proceeds from sale of SBA loans originated for sale	283	1,026
Net gain on sale of OREO and valuation adjustments	(328)	(51)
Net accretion of purchase premiums and discounts on securities	0	31
Stock based compensation	135	109
Net changes in:
Decrease (increase) in accrued interest receivable and other assets	1,677	(1,693)
Decrease in accrued interest payable and other accrued liabilities	(808)	(396)
Net cash provided by operating activities	21,903	18,912
Cash Flows from Investing Activities:
Repayments and maturities of investment securities available for sale	1,739	3,564
Repayments and maturities of investment securities held to maturity	206	0
Net (increase) decrease in loans	(63,104)	45,078
Purchases of bank premises and equipment	(56)	(28)
Proceeds from sale of OREO, net	1,887	245
(Purchase) redemptions of restricted stock	(82)	1,340
Net cash (used in) provided by investing activities	(59,410)	50,199
Cash Flows from Financing Activities:
Cash dividends	(3,826)	(5,718)
Earnings distribution to non-controlling interest	0	(447)
Proceeds from exercise of stock options	125	214
Net decrease in FHLBNY and short-term borrowings	0	(33,000)
Net decrease in other borrowings	0	(90,026)
Net (decrease) increase in noninterest-bearing deposits	(100,511)	88,707
Net (decrease) increase in interest-bearing deposits	(61,593)	43,352
Net cash (used in) provided by financing activities	(165,805)	3,082
Net (decrease) increase in cash and cash equivalents	(203,312)	72,193
Cash and Cash Equivalents, January 1,	596,553	458,601
Cash and Cash Equivalents, June 30,	393,241	530,794
Supplemental Disclosure of Cash Flow Information:
Interest paid	5,186	7,543
Income taxes paid	6,619	9,828
Non-cash Investing and Financing Items
Loans transferred to OREO	$ 71	$ 1,709

ORGANIZATION

ORGANIZATION	6 Months Ended
	Jun. 30, 2022
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 has six 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	6 Months Ended
	Jun. 30, 2022
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 had a 51% ownership interest in the joint venture. In 2021, PDL was fully liquidated and all earnings were distributed. 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, 2021. The accompanying interim financial statements for the three and six months ended June 30, 2022 and 2021 are unaudited. The balance sheet as of December 31, 2021, 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 six months ended June 30, 2022 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: In March 2022, the FASB issued ASU 2022-02, Financial Instruments - Credit Losses (ASC 326): Troubled Debt Restructurings (TDRs) and Vintage Disclosures . The guidance amends ASC 326 to eliminate the accounting guidance for TDRs by creditors, while enhancing disclosure requirements for certain loan refinancing and restructuring activities by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying TDR recognition and measurement guidance, creditors will determine whether a modification results in a new loan or continuation of existing loan. These amendments are intended to enhance existing disclosure requirements and introduce new requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty. Additionally, the amendments to ASC 326 require that an entity disclose current-period gross write-offs by year of origination within the vintage disclosures, which requires that an entity disclose the amortized cost basis of financing receivables by credit quality indicator and class of financing receivable by year of origination. The guidance is only for entities that have adopted the amendments in Update 2016-13 for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. Early adoption using prospective application, including adoption in an interim period where the guidance should be applied as of the beginning of the fiscal year. The Company is currently evaluating the impact the adoption of the standard will have on the Company’s financial position or results of operations . 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 and interim periods within those years. The Company has selected a third-party software vendor for the CECL calculation and to assist in the implementation of the model. The Company will utilize a lifetime loss rate calculation for all its loan portfolio's, as well as supplement the loss estimate by including reasonable and supportable forecasts of macroeconomic conditions. The Company began to perform parallel runs of the new model to its current ALLL model during the first quarter of 2022 and continues to evaluate the results and assumptions. Implementation efforts are continuing to focus on model validation, model calibration, qualitative factors, finalizing procedures and other governance and control documentation. The Company will adopt this new guidance on January 1, 2023, and is currently evaluating the impact of this new guidance on its 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	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022 and December 31, 2021: As of June 30, 2022 Amortized Gross Gross Fair value (Dollars in thousands) Available for sale: Corporate debt obligations $ 500 $ — $ — $ 500 Residential mortgage-backed securities 10,752 31 384 10,399 Collateralized mortgage obligations 4 — — 4 Total available for sale $ 11,256 $ 31 $ 384 $ 10,903 Held to maturity: Residential mortgage-backed securities $ 5,947 $ — $ 842 $ 5,105 States and political subdivisions 3,791 74 562 3,303 Total held to maturity $ 9,738 $ 74 $ 1,404 $ 8,408 As of December 31, 2021 Amortized Gross Gross Fair value (Dollars in thousands) Available for sale: Corporate debt obligations $ 500 $ — $ — $ 500 Residential mortgage-backed securities 12,513 372 42 12,843 Collateralized mortgage obligations 8 — — 8 Total available for sale $ 13,021 $ 372 $ 42 $ 13,351 Held to maturity: States and political subdivisions $ 3,761 $ 241 $ 16 $ 3,986 Residential mortgage-backed securities 6,157 — 118 6,039 Total held to maturity $ 9,918 $ 241 $ 134 $ 10,025 The amortized cost and fair value of debt securities classified as available for sale and held to maturity, by contractual maturity as of June 30, 2022 are as follows: Amortized Fair (Dollars in thousands) Available for sale: Due within one year $ — $ — Due after one year through five years 728 717 Due after five years through ten years 6,012 5,840 Due after ten years 4,516 4,346 Total available for sale $ 11,256 $ 10,903 Held to maturity: Due within one year $ — $ — Due after one year through five years 1,314 1,389 Due after five years through ten years — — Due after ten years 8,424 7,019 Total held to maturity $ 9,738 $ 8,408 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 six months ended June 30, 2022. 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 June 30, 2022 and December 31, 2021: As of June 30, 2022 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 $ 7,902 $ 283 $ 1,126 $ 101 $ 9,028 $ 384 Total available for sale $ 7,902 $ 283 $ 1,126 $ 101 $ 9,028 $ 384 Held to maturity: Residential mortgage-backed securities $ 5,105 $ 842 $ — $ — $ 5,105 $ 842 States and political subdivisions 1,914 562 — — 1,914 562 Total held to maturity $ 7,019 $ 1,404 $ — $ — $ 7,019 $ 1,404 As of December 31, 2021 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 $ 168 $ 1 $ 1,418 $ 41 $ 1,586 $ 42 Total available for sale $ 168 $ 1 $ 1,418 $ 41 $ 1,586 $ 42 Held to maturity: Residential mortgage-backed securities 6,039 $ 118 $ — $ — $ 6,039 $ 118 States and political subdivisions 2,462 16 — — 2,462 16 Total held to maturity $ 8,501 $ 134 $ — $ — $ 8,501 $ 134 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 17 securities in the less than 12 months loss position and 2 securities in the 12 months or greater loss position at June 30, 2022, and 5 securities in the less than 12 months loss position and 3 securities in the 12 months or greater loss position at December 31, 2021. 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. The states and political subdivisions securities that had unrealized losses were issued by a school district, and the loss is attributed to changes in interest rates and not due to credit losses. 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 June 30, 2022.

LOANS AND ALLOWANCE FOR LOAN LO

LOANS AND ALLOWANCE FOR LOAN LOSSES	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
LOANS AND ALLOWANCE FOR LOAN LOSSES	90 Days and Accruing (Dollars in Thousands) Commercial and Industrial $ — $ 91 $ 158 $ 249 $ 35,490 $ 35,739 $ — Construction — — 1,139 1,139 145,667 146,806 — Real Estate Mortgage: Commercial – Owner Occupied — — 1,016 1,016 127,766 128,782 — Commercial – Non-owner Occupied — 14,380 1,328 15,708 309,427 325,135 — Residential – 1 to 4 Family — 93 230 323 826,181 826,504 — Residential – Multifamily — — — — 77,797 77,797 — Consumer — 70 — 70 7,300 7,370 — Total Loans $ — $ 14,634 $ 3,871 $ 18,505 $ 1,529,628 $ 1,548,133 $ — December 31, 2021 30-59 60-89 Greater Total Past Current Total Loans > 90 Days and Accruing (Dollars in thousands) Commercial and Industrial $ — $ 349 $ 224 $ 573 $ 56,578 $ 57,151 $ — Construction — — 1,139 1,139 152,938 154,077 — Real Estate Mortgage: Commercial – Owner Occupied — — 2,170 2,170 121,502 123,672 — Commercial – Non-owner Occupied — — 242 242 306,244 306,486 — Residential – 1 to 4 Family 81 — 533 614 749,911 750,525 — Residential – Multifamily — — — — 84,964 84,964 — Consumer — — — — 7,972 7,972 — Total Loans $ 81 $ 349 $ 4,308 $ 4,738 $ 1,480,109 $ 1,484,847 $ — 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 June 30, 2022 March 31, 2022 $ 509 $ 2,197 $ 3,012 $ 7,253 $ 15,482 $ 1,415 $ 113 $ 29,981 Charge-offs — — — — — — — — Recoveries 2 100 2 — 13 — — 117 Provisions (benefits) 40 (95) (272) 296 716 (317) (18) 350 Ending Balance at June 30, 2022 $ 551 $ 2,202 $ 2,742 $ 7,549 $ 16,211 $ 1,098 $ 95 $ 30,448 Allowance for loan losses Six months ended June 30, 2022 December 31, 2021 $ 417 $ 2,662 $ 2,997 $ 7,476 $ 14,970 $ 1,215 $ 108 $ 29,845 Charge-offs — — — — — — — — Recoveries 8 100 5 — 134 6 — 253 Provisions (benefits) 126 (560) (260) 73 1,107 (123) (13) 350 Ending Balance at June 30, 2022 $ 551 $ 2,202 $ 2,742 $ 7,549 $ 16,211 $ 1,098 $ 95 $ 30,448 Allowance for loan losses Individually evaluated for impairment $ — $ — $ 4 $ 120 $ 22 $ — $ — $ 146 Collectively evaluated for impairment 551 2,202 2,738 7,429 16,189 1,098 95 30,302 Ending Balance at June 30, 2022 $ 551 $ 2,202 $ 2,742 $ 7,549 $ 16,211 $ 1,098 $ 95 $ 30,448 Loans Individually evaluated for impairment $ 158 $ 1,139 $ 2,364 $ 5,363 $ 490 $ — $ — $ 9,514 Collectively evaluated for impairment 35,581 145,667 126,418 319,772 826,014 77,797 7,370 1,538,619 Ending Balance at June 30, 2022 $ 35,739 $ 146,806 $ 128,782 $ 325,135 $ 826,504 $ 77,797 $ 7,370 $ 1,548,133 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 June 30, 2021 March 31, 2021 $ 474 $ 3,744 $ 3,335 $ 9,160 $ 11,825 $ 1,538 $ 134 $ 30,210 Charge-offs — — — (153) — — — (153) Recoveries 8 — 3 — — — — 11 Provisions (benefits) (170) (262) 164 (493) 1,058 (288) (9) — Ending Balance at June 30, 2021 $ 312 $ 3,482 $ 3,502 $ 8,514 $ 12,883 $ 1,250 $ 125 $ 30,068 Allowance for loan losses Six months ended June 30, 2021 December 31, 2020 $ 492 $ 3,359 $ 3,078 $ 8,398 $ 12,595 $ 1,639 $ 137 $ 29,698 Charge-offs — — — (153) — — — (153) Recoveries 12 — 11 — — — — 23 Provisions (benefits) (192) 123 413 269 288 (389) (12) 500 Ending Balance at June 30, 2021 $ 312 $ 3,482 $ 3,502 $ 8,514 $ 12,883 $ 1,250 $ 125 $ 30,068 Allowance for loan losses Individually evaluated for impairment $ 10 $ 220 $ 6 $ 236 $ 133 $ — $ — $ 605 Collectively evaluated for impairment 302 3,262 3,496 8,278 12,750 1,250 125 29,463 Ending Balance at June 30, 2021 $ 312 $ 3,482 $ 3,502 $ 8,514 $ 12,883 $ 1,250 $ 125 $ 30,068 Loans Individually evaluated for impairment $ 48 $ 1,365 $ 2,379 $ 5,724 $ 1,478 $ — $ 178 $ 11,172 Collectively evaluated for impairment 94,808 198,867 128,779 312,789 679,870 83,806 9,000 1,507,919 Ending Balance at June 30, 2021 $ 94,856 $ 200,232 $ 131,158 $ 318,513 $ 681,348 $ 83,806 $ 9,178 $ 1,519,091 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 June 30, 2022 and December 31, 2021: June 30, 2022 Recorded Unpaid Related (Dollars in thousands) With no related allowance recorded: Commercial and Industrial $ 158 $ 158 $ — Construction 1,139 5,856 — Real Estate Mortgage: Commercial – Owner Occupied 2,171 2,171 — Commercial – Non-owner Occupied 173 173 — Residential – 1 to 4 Family 230 230 — Residential – Multifamily — — — Consumer — — — 3,871 8,588 — With an allowance recorded: Commercial and Industrial — — — Construction — — — Real Estate Mortgage: Commercial – Owner Occupied 193 193 4 Commercial – Non-owner Occupied 5,190 5,190 120 Residential – 1 to 4 Family 260 260 22 Residential – Multifamily — — — Consumer — — — 5,643 5,643 146 Total: Commercial and Industrial 158 158 — Construction 1,139 5,856 — Real Estate Mortgage: Commercial – Owner Occupied 2,364 2,364 4 Commercial – Non-owner Occupied 5,363 5,363 120 Residential – 1 to 4 Family 490 490 22 Residential – Multifamily — — — Consumer — — — $ 9,514 $ 14,231 $ 146 December 31, 2021 Recorded Unpaid Related (Dollars in thousands) With no related allowance recorded: Commercial and Industrial $ 216 $ 216 $ — Construction — — — Real Estate Mortgage: Commercial – Owner Occupied 2,170 2,170 — Commercial – Non-owner Occupied 242 242 — Residential – 1 to 4 Family 465 599 — Residential – Multifamily — — — Consumer — — — 3,093 3,227 — With an allowance recorded: Commercial and Industrial 8 16 8 Construction 1,139 5,856 300 Real Estate Mortgage: Commercial – Owner Occupied 199 199 5 Commercial – Non-owner Occupied 5,335 5,335 218 Residential – 1 to 4 Family 528 528 60 Residential – Multifamily — — — Consumer — — — 7,209 11,934 591 Total: Commercial and Industrial 224 232 8 Construction 1,139 5,856 300 Real Estate Mortgage: Commercial – Owner Occupied 2,369 2,369 5 Commercial – Non-owner Occupied 5,577 5,577 218 Residential – 1 to 4 Family 993 1,127 60 Residential – Multifamily — — — Consumer — — — $ 10,302 $ 15,161 $ 591 The following table presents by loan portfolio class, the average recorded investment and interest income recognized on impaired loans for the three and six months ended June 30, 2022 and 2021: Three Months Ended June 30, 2022 2021 Average Interest Average Interest (Dollars in thousands) Commercial and Industrial $ 177 $ — $ 52 $ — Construction 1,139 — 1,365 — Real Estate Mortgage: Commercial – Owner Occupied 2,367 3 2,447 3 Commercial – Non-owner Occupied 5,402 68 5,665 70 Residential – 1 to 4 Family 588 4 1,487 11 Residential – Multifamily — — — — Consumer — — 178 2 Total $ 9,673 $ 75 $ 11,194 $ 86 Six Months Ended June 30, 2022 2021 Average Interest Average Interest (Dollars in thousands) Commercial and Industrial $ 190 $ — $ 51 $ — Construction 1,139 — 1,365 — Real Estate Mortgage: Commercial – Owner Occupied 2,367 6 2,449 6 Commercial – Non-owner Occupied 5,436 135 5,673 135 Residential – 1 to 4 Family 623 11 1,496 26 Residential – Multifamily — — — — Consumer — — 178 4 Total $ 9,755 $ 152 $ 11,212 $ 171 Troubled debt restructuring (TDRs) We reported performing TDR loans (not reported as non-accrual loans) of $5.6 million and $6.0 million, respectively, at June 30, 2022 and December 31, 2021. Nonperforming TDR loans were zero at June 30, 2022 and December 31, 2021, 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 six months ended June 30, 2022 and the year ended December 31, 2021, respectively. 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 $146,000 and $254,000 in the allowance at June 30, 2022 and December 31, 2021, 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 June 30, 2022 and December 31, 2021 is as follows: At June 30, 2022 Pass OAEM Substandard Doubtful Total (Dollars in thousands) Commercial and Industrial $ 35,581 $ — $ 158 $ — $ 35,739 Construction 145,667 — 1,139 — 146,806 Real Estate Mortgage: Commercial – Owner Occupied 123,582 3,029 2,171 — 128,782 Commercial – Non-owner Occupied 310,582 14,380 173 — 325,135 Residential – 1 to 4 Family 826,274 — 230 — 826,504 Residential – Multifamily 77,797 — — — 77,797 Consumer 7,370 — — — 7,370 Total $ 1,526,853 $ 17,409 $ 3,871 $ — $ 1,548,133 At December 31, 2021 Pass OAEM Substandard Doubtful Total (Dollars in thousands) Commercial and Industrial $ 56,927 $ — $ 224 $ — $ 57,151 Construction 152,938 — 1,139 — 154,077 Real Estate Mortgage: Commercial – Owner Occupied 118,473 3,029 2,170 — 123,672 Commercial – Non-owner Occupied 291,864 14,380 242 — 306,486 Residential – 1 to 4 Family 749,904 — 621 — 750,525 Residential – Multifamily 84,964 — — — 84,964 Consumer 7,972 — — — 7,972 Total $ 1,463,042 $ 17,409 $ 4,396 $ — $ 1,484,847 " id="sjs-B4" xml:space="preserve">LOANS AND ALLOWANCE FOR LOAN LOSSES At June 30, 2022 and December 31, 2021, the Company had $1.55 billion and $1.48 billion, respectively, in loans receivable outstanding. Outstanding balances include a total net increase of $2.0 million and $1.7 million at June 30, 2022 and December 31, 2021, respectively, for unearned income, net deferred loan fees, and unamortized discounts and premiums. We had no loans held for sale at June 30, 2022 and December 31, 2021, respectively. Also, at June 30, 2022 and December 31, 2021, our commercial and industrial loan portfolio includes $4.4 million and $27.8 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 June 30, 2022 and December 31, 2021, consist of the following: June 30, 2022 December 31, 2021 Amount Amount (Dollars in thousands) Commercial and Industrial $ 35,739 $ 57,151 Construction 146,806 154,077 Real Estate Mortgage: Commercial – Owner Occupied 128,782 123,672 Commercial – Non-owner Occupied 325,135 306,486 Residential – 1 to 4 Family 826,504 750,525 Residential – Multifamily 77,797 84,964 Consumer 7,370 7,972 Total Loans $ 1,548,133 $ 1,484,847 An age analysis of past due loans by class at June 30, 2022 and December 31, 2021 is as follows: June 30, 2022 30-59 60-89 Greater Total Past Current Total Loans > 90 Days and Accruing (Dollars in Thousands) Commercial and Industrial $ — $ 91 $ 158 $ 249 $ 35,490 $ 35,739 $ — Construction — — 1,139 1,139 145,667 146,806 — Real Estate Mortgage: Commercial – Owner Occupied — — 1,016 1,016 127,766 128,782 — Commercial – Non-owner Occupied — 14,380 1,328 15,708 309,427 325,135 — Residential – 1 to 4 Family — 93 230 323 826,181 826,504 — Residential – Multifamily — — — — 77,797 77,797 — Consumer — 70 — 70 7,300 7,370 — Total Loans $ — $ 14,634 $ 3,871 $ 18,505 $ 1,529,628 $ 1,548,133 $ — December 31, 2021 30-59 60-89 Greater Total Past Current Total Loans > 90 Days and Accruing (Dollars in thousands) Commercial and Industrial $ — $ 349 $ 224 $ 573 $ 56,578 $ 57,151 $ — Construction — — 1,139 1,139 152,938 154,077 — Real Estate Mortgage: Commercial – Owner Occupied — — 2,170 2,170 121,502 123,672 — Commercial – Non-owner Occupied — — 242 242 306,244 306,486 — Residential – 1 to 4 Family 81 — 533 614 749,911 750,525 — Residential – Multifamily — — — — 84,964 84,964 — Consumer — — — — 7,972 7,972 — Total Loans $ 81 $ 349 $ 4,308 $ 4,738 $ 1,480,109 $ 1,484,847 $ — 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 June 30, 2022 March 31, 2022 $ 509 $ 2,197 $ 3,012 $ 7,253 $ 15,482 $ 1,415 $ 113 $ 29,981 Charge-offs — — — — — — — — Recoveries 2 100 2 — 13 — — 117 Provisions (benefits) 40 (95) (272) 296 716 (317) (18) 350 Ending Balance at June 30, 2022 $ 551 $ 2,202 $ 2,742 $ 7,549 $ 16,211 $ 1,098 $ 95 $ 30,448 Allowance for loan losses Six months ended June 30, 2022 December 31, 2021 $ 417 $ 2,662 $ 2,997 $ 7,476 $ 14,970 $ 1,215 $ 108 $ 29,845 Charge-offs — — — — — — — — Recoveries 8 100 5 — 134 6 — 253 Provisions (benefits) 126 (560) (260) 73 1,107 (123) (13) 350 Ending Balance at June 30, 2022 $ 551 $ 2,202 $ 2,742 $ 7,549 $ 16,211 $ 1,098 $ 95 $ 30,448 Allowance for loan losses Individually evaluated for impairment $ — $ — $ 4 $ 120 $ 22 $ — $ — $ 146 Collectively evaluated for impairment 551 2,202 2,738 7,429 16,189 1,098 95 30,302 Ending Balance at June 30, 2022 $ 551 $ 2,202 $ 2,742 $ 7,549 $ 16,211 $ 1,098 $ 95 $ 30,448 Loans Individually evaluated for impairment $ 158 $ 1,139 $ 2,364 $ 5,363 $ 490 $ — $ — $ 9,514 Collectively evaluated for impairment 35,581 145,667 126,418 319,772 826,014 77,797 7,370 1,538,619 Ending Balance at June 30, 2022 $ 35,739 $ 146,806 $ 128,782 $ 325,135 $ 826,504 $ 77,797 $ 7,370 $ 1,548,133 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 June 30, 2021 March 31, 2021 $ 474 $ 3,744 $ 3,335 $ 9,160 $ 11,825 $ 1,538 $ 134 $ 30,210 Charge-offs — — — (153) — — — (153) Recoveries 8 — 3 — — — — 11 Provisions (benefits) (170) (262) 164 (493) 1,058 (288) (9) — Ending Balance at June 30, 2021 $ 312 $ 3,482 $ 3,502 $ 8,514 $ 12,883 $ 1,250 $ 125 $ 30,068 Allowance for loan losses Six months ended June 30, 2021 December 31, 2020 $ 492 $ 3,359 $ 3,078 $ 8,398 $ 12,595 $ 1,639 $ 137 $ 29,698 Charge-offs — — — (153) — — — (153) Recoveries 12 — 11 — — — — 23 Provisions (benefits) (192) 123 413 269 288 (389) (12) 500 Ending Balance at June 30, 2021 $ 312 $ 3,482 $ 3,502 $ 8,514 $ 12,883 $ 1,250 $ 125 $ 30,068 Allowance for loan losses Individually evaluated for impairment $ 10 $ 220 $ 6 $ 236 $ 133 $ — $ — $ 605 Collectively evaluated for impairment 302 3,262 3,496 8,278 12,750 1,250 125 29,463 Ending Balance at June 30, 2021 $ 312 $ 3,482 $ 3,502 $ 8,514 $ 12,883 $ 1,250 $ 125 $ 30,068 Loans Individually evaluated for impairment $ 48 $ 1,365 $ 2,379 $ 5,724 $ 1,478 $ — $ 178 $ 11,172 Collectively evaluated for impairment 94,808 198,867 128,779 312,789 679,870 83,806 9,000 1,507,919 Ending Balance at June 30, 2021 $ 94,856 $ 200,232 $ 131,158 $ 318,513 $ 681,348 $ 83,806 $ 9,178 $ 1,519,091 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 June 30, 2022 and December 31, 2021: June 30, 2022 Recorded Unpaid Related (Dollars in thousands) With no related allowance recorded: Commercial and Industrial $ 158 $ 158 $ — Construction 1,139 5,856 — Real Estate Mortgage: Commercial – Owner Occupied 2,171 2,171 — Commercial – Non-owner Occupied 173 173 — Residential – 1 to 4 Family 230 230 — Residential – Multifamily — — — Consumer — — — 3,871 8,588 — With an allowance recorded: Commercial and Industrial — — — Construction — — — Real Estate Mortgage: Commercial – Owner Occupied 193 193 4 Commercial – Non-owner Occupied 5,190 5,190 120 Residential – 1 to 4 Family 260 260 22 Residential – Multifamily — — — Consumer — — — 5,643 5,643 146 Total: Commercial and Industrial 158 158 — Construction 1,139 5,856 — Real Estate Mortgage: Commercial – Owner Occupied 2,364 2,364 4 Commercial – Non-owner Occupied 5,363 5,363 120 Residential – 1 to 4 Family 490 490 22 Residential – Multifamily — — — Consumer — — — $ 9,514 $ 14,231 $ 146 December 31, 2021 Recorded Unpaid Related (Dollars in thousands) With no related allowance recorded: Commercial and Industrial $ 216 $ 216 $ — Construction — — — Real Estate Mortgage: Commercial – Owner Occupied 2,170 2,170 — Commercial – Non-owner Occupied 242 242 — Residential – 1 to 4 Family 465 599 — Residential – Multifamily — — — Consumer — — — 3,093 3,227 — With an allowance recorded: Commercial and Industrial 8 16 8 Construction 1,139 5,856 300 Real Estate Mortgage: Commercial – Owner Occupied 199 199 5 Commercial – Non-owner Occupied 5,335 5,335 218 Residential – 1 to 4 Family 528 528 60 Residential – Multifamily — — — Consumer — — — 7,209 11,934 591 Total: Commercial and Industrial 224 232 8 Construction 1,139 5,856 300 Real Estate Mortgage: Commercial – Owner Occupied 2,369 2,369 5 Commercial – Non-owner Occupied 5,577 5,577 218 Residential – 1 to 4 Family 993 1,127 60 Residential – Multifamily — — — Consumer — — — $ 10,302 $ 15,161 $ 591 The following table presents by loan portfolio class, the average recorded investment and interest income recognized on impaired loans for the three and six months ended June 30, 2022 and 2021: Three Months Ended June 30, 2022 2021 Average Interest Average Interest (Dollars in thousands) Commercial and Industrial $ 177 $ — $ 52 $ — Construction 1,139 — 1,365 — Real Estate Mortgage: Commercial – Owner Occupied 2,367 3 2,447 3 Commercial – Non-owner Occupied 5,402 68 5,665 70 Residential – 1 to 4 Family 588 4 1,487 11 Residential – Multifamily — — — — Consumer — — 178 2 Total $ 9,673 $ 75 $ 11,194 $ 86 Six Months Ended June 30, 2022 2021 Average Interest Average Interest (Dollars in thousands) Commercial and Industrial $ 190 $ — $ 51 $ — Construction 1,139 — 1,365 — Real Estate Mortgage: Commercial – Owner Occupied 2,367 6 2,449 6 Commercial – Non-owner Occupied 5,436 135 5,673 135 Residential – 1 to 4 Family 623 11 1,496 26 Residential – Multifamily — — — — Consumer — — 178 4 Total $ 9,755 $ 152 $ 11,212 $ 171 Troubled debt restructuring (TDRs) We reported performing TDR loans (not reported as non-accrual loans) of $5.6 million and $6.0 million, respectively, at June 30, 2022 and December 31, 2021. Nonperforming TDR loans were zero at June 30, 2022 and December 31, 2021, 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 six months ended June 30, 2022 and the year ended December 31, 2021, respectively. 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 $146,000 and $254,000 in the allowance at June 30, 2022 and December 31, 2021, 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 June 30, 2022 and December 31, 2021 is as follows: At June 30, 2022 Pass OAEM Substandard Doubtful Total (Dollars in thousands) Commercial and Industrial $ 35,581 $ — $ 158 $ — $ 35,739 Construction 145,667 — 1,139 — 146,806 Real Estate Mortgage: Commercial – Owner Occupied 123,582 3,029 2,171 — 128,782 Commercial – Non-owner Occupied 310,582 14,380 173 — 325,135 Residential – 1 to 4 Family 826,274 — 230 — 826,504 Residential – Multifamily 77,797 — — — 77,797 Consumer 7,370 — — — 7,370 Total $ 1,526,853 $ 17,409 $ 3,871 $ — $ 1,548,133 At December 31, 2021 Pass OAEM Substandard Doubtful Total (Dollars in thousands) Commercial and Industrial $ 56,927 $ — $ 224 $ — $ 57,151 Construction 152,938 — 1,139 — 154,077 Real Estate Mortgage: Commercial – Owner Occupied 118,473 3,029 2,170 — 123,672 Commercial – Non-owner Occupied 291,864 14,380 242 — 306,486 Residential – 1 to 4 Family 749,904 — 621 — 750,525 Residential – Multifamily 84,964 — — — 84,964 Consumer 7,972 — — — 7,972 Total $ 1,463,042 $ 17,409 $ 4,396 $ — $ 1,484,847

EQUITY AND CHANGES IN OTHER COM

EQUITY AND CHANGES IN OTHER COMPREHENSIVE INCOME	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
EQUITY AND CHANGES IN OTHER COMPREHENSIVE INCOME	EQUITY AND CHANGES IN OTHER COMPREHENSIVE INCOME The Company's total equity was $249.1 million and $232.4 million at June 30, 2022 and December 31, 2021, respectively. Common stock dividend : On June 21, 2022, the Company declared a cash dividend of $0.16 per share to common shareholders of record as of July 5, 2022, and paid the dividend July 19, 2022. On March 22, 2022, the Company declared a cash dividend of $0.16 per share to common shareholders of record as of April 6, 2022, and paid the dividend April 20, 2022. 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. Preferred stock dividend : The Company declared cash dividends of $6,675 and $14,100 to preferred stockholders during the three months ended June 30, 2022 and June 30, 2021, respectively. The Company declared cash dividends of $13,350 and $14,100 for the six months ended June 30, 2022 and June 30, 2021, respectively. Conversion of preferred stock : During the six months ended June 30, 2022, there were no conversions from preferred stock to common shares. During the six months ended June 30, 2021, preferred stockholders converted 10 shares of preferred shares into 1,375 shares of common stock. Other comprehensive income The changes in accumulated other comprehensive loss consisted of the following for the six months ended June 30, 2022 and 2021, and there were no reclassification adjustments during the period: For the Three Months Ended 2022 2021 (Dollars in thousands) Investment securities: Net unrealized losses arising during the period $ (99) $ (15) Tax effect related to the unrealized loss during the periods 25 4 Change in other comprehensive loss $ (74) $ (11) For the Six Months Ended June 30, 2022 2021 (Dollars in thousands) Investment securities: Net unrealized losses arising during the period $ (683) $ (127) Tax effect related to the unrealized loss during the periods 176 33 Change in other comprehensive loss $ (507) $ (94)

EARNINGS PER SHARE ("EPS")

EARNINGS PER SHARE ("EPS")	6 Months Ended
	Jun. 30, 2022
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 six-month periods ended June 30, 2022 and 2021. Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 (Dollars in thousands except share and per share data) Basic earnings per common share Net income available to the Company $ 10,738 $ 10,757 $ 20,829 $ 20,186 Less: Dividend on series B preferred stock (7) (7) (14) (14) Net income available to common shareholders 10,731 10,750 20,815 20,172 Basic weighted-average common shares outstanding 11,914,454 11,891,558 11,909,892 11,881,902 Basic earnings per common share $ 0.90 $ 0.90 $ 1.75 $ 1.70 Diluted earnings per common share Net income available to common shares $ 10,731 $ 10,750 $ 20,815 $ 20,172 Add: Dividend on series B preferred stock 7 7 14 14 Net income available to diluted common shares 10,738 10,757 20,829 20,186 Basic weighted-average common shares outstanding 11,914,454 11,891,558 11,909,892 11,881,902 Dilutive potential common shares 270,798 220,135 272,894 228,367 Diluted weighted-average common shares outstanding 12,185,252 12,111,693 12,182,786 12,110,269 Diluted earnings per common share $ 0.88 $ 0.89 $ 1.71 $ 1.67

FAIR VALUE

FAIR VALUE	6 Months Ended
	Jun. 30, 2022
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: 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 loans held for sale, the fair value represents the value of the guaranteed portion of the SBA loans pending settlement. There were no loans held for sale at June 30, 2022 and December 31, 2022. Securities in Level 2 include mortgage-backed securities, corporate debt obligations, and collateralized mortgage-backed securities. 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 As of June 30, 2022 Corporate debt obligations $ — $ 500 $ — $ 500 Residential mortgage-backed securities — 10,399 — 10,399 Collateralized mortgage-backed securities — 4 — 4 Total $ — $ 10,903 $ — $ 10,903 As of December 31, 2021 Corporate debt obligations $ — $ 500 $ — $ 500 Residential mortgage-backed securities — 12,843 — 12,843 Collateralized mortgage-backed securities — 8 — 8 Total $ — $ 13,351 $ — $ 13,351 For the six months ended June 30, 2022, 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 six months ended June 30, 2022 and 2021. 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 June 30, 2022 Collateral-dependent impaired loans $ — $ — $ 3,972 $ 3,972 As of December 31, 2021 Collateral-dependent impaired loans $ — $ — $ 4,087 $ 4,087 OREO — — 1,654 1,654 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, and they are considered to be level 1 measurements. The following table summarizes the carrying amounts and fair values for financial instruments at June 30, 2022 and December 31, 2021: June 30, 2022 Carrying Amount Fair Value Total Level 1 Level 2 Level 3 (Dollars in thousands) Financial Assets: Investment securities AFS 10,903 10,903 — 10,903 — Investment securities HTM 9,738 8,408 — 8,408 — Restricted stock 5,226 5,226 — — 5,226 Loans, net 1,517,685 1,482,195 — 1,477,214 4,981 Financial Liabilities: Time deposits 508,589 511,448 — 511,448 — Borrowings 120,976 117,656 — 117,656 — December 31, 2021 Carrying Amount Fair Value Total Level 1 Level 2 Level 3 (Dollars in thousands) Financial Assets: Investment securities AFS 13,351 13,351 — 13,351 — Investment securities HTM 9,918 10,025 — 10,025 — Restricted stock 5,144 5,144 — — 5,144 Loans, net 1,455,002 1,440,398 — 1,430,686 9,712 Financial Liabilities: Time deposits 593,746 597,791 — 597,791 — Borrowings 120,882 117,636 — 117,636 —

LEASES

LEASES	6 Months Ended
	Jun. 30, 2022
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 10 years or less except the land lease, which has a remaining lease term of eighty-three years. Some of the leases may include options to renew the leases. The exercise of lease renewals is at our sole discretion. Our Right of Use ("ROU") assets and lease liabilities for operating leases are included in other assets other liabilities at June 30, 2022, 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 June 30, 2022: June 30, 2022 (Dollars in thousands) Lease right of use ("ROU") assets $ 1,941 Lease liabilities $ 1,941 The following table presents future undiscounted cash flows on our operating leases: June 30, 2022 (Dollars in thousands) Remainder of 2022 $ 165 2023 332 2024 348 2025 352 2026 283 Thereafter 26,301 Total undiscounted lease payments $ 27,781

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022. 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 June 30, 2022 and December 31, 2021, unused commitments to extend credit amounted to approximately $140.2 million and $117.7 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 June 30, 2022 and December 31, 2021, standby letters of credit with customers were $1.5 million and $1.5 million, respectively. On June 27, 2022, the Bank entered into an agreement with the FHLBNY for a Municipal Letter of Credit ("MLOC") of $10.0 million. On June 30, 2022, the Bank entered into an agreement with the FHLBNY for a MLOC of $50.0 million. The MLOC's are used to pledge against public deposits and expire on July 27, 2022, and September 29, 2022, respectively. There were no outstanding borrowings on the letters of credit as of June 30, 2022. 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. In 2021, cannabis in the State of New Jersey became legal for recreational use. An amendment legalizing cannabis became part of the New Jersey State Constitution , and enabling legislation and related bills were signed into law in 2021. The new law legalized and regulated cannabis use and possession for adults 21 years and older. The new law also clarifies marijuana and cannabis use and possession penalties for individuals younger than 21 years old. Retail sales of cannabis began in New Jersey in April 2022. We provide banking services to customers that are licensed by various States to do business in the cannabis industry as growers, processors and dispensaries and who participate in retail sales of cannabis in New Jersey. Cannabis businesses are legal under the laws of these States and now in New Jersey, although it is not legal under federal law. 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 June 30, 2022 and December 31, 2021, deposit balances from cannabis customers were approximately $275.8 million and $375.2 million, or 17.1% and 21.2% of total deposits, respectively, with two customers accounting for 42.2% and 19.3% of the total at June 30, 2022 and December 31, 2021. At June 30, 2022 and December 31, 2021, there were cannabis-related loans in the amounts of $4.0 million and $5.4 million, respectively. We recorded approximately $59 thousand and $336 thousand of interest income in the six months ended June 30, 2022 and year ended December 31, 2021, respectively, related to these loans. The fee income for the six months ended June 30, 2022 and year ended December 31, 2021, from the commercial deposit accounts of depositors who do business in the cannabis industry were $2.3 million and $5.1 million, respectively, and are included in service fees on deposit accounts, in the accompanying consolidated statements of income.

REGULATORY MATTERS

REGULATORY MATTERS	6 Months Ended
	Jun. 30, 2022
Banking and Thrift, Other Disclosure [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 June 30, 2022 and December 31, 2021, 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 June 30, 2022 and December 31, 2021, 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. Under final regulations adopted by the federal banking agencies under the Economic Growth, Regulatory Relief and Consumer Protection Act ( "EGRRCPA"), a community banking organization may opt into the Community Bank Leverage Ratio ("CBLR") framework if it has a Tier 1 leverage ratio of at least 9%, less than $10 billion in total consolidated assets, and limited amounts of off-balance-sheet exposures and trading assets and liabilities. A qualifying community banking organization that opts into the CBLR framework will not be required to report or calculate compliance with risk-based capital requirements and will also be considered to have met the well-capitalized ratio requirements under the prompt corrective action regulations. We have elected to use the CBLR framework and is presented as of June 30, 2022. On April 6, 2020, federal banking regulatory agencies modified the original (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 CBLR framework. The modified rule also states that the CBLR 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 CBLR requirement. The leverage ratios of the Company and the Bank at June 30, 2022 are as follows: Regulatory Capital Compliance As of June 30, 2022 Actual For Capital Adequacy (Dollars in thousands except ratios) Amount Ratio Amount Ratio Company: Tier 1 leverage $ 262,782 13.01 % $ 181,762 9.00 % Parke Bank: Community Bank Leverage Ratio $ 291,270 14.43 % $ 181,726 9.00 % The Company and Bank's regulatory capital as of December 31, 2021, is presented in the following table. As of December 31, 2021 Actual For Capital Adequacy (Dollars in thousands except ratios) Amount Ratio Amount Ratio Company: Total risk-based capital $ 290,965 22.57 % $ 103,151 8.00 % Tier 1 risk-based capital 245,519 19.04 % 77,363 6.00 % Tier 1 leverage 245,519 11.49 % 85,494 4.00 % Tier 1 common equity 231,671 17.97 % 58,023 4.50 % Parke Bank: Tier 1 leverage 273,884 12.82 % 181,640 8.50 % * Combination of both community bank leverage approach and the regular rule of capital adequacy.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2022
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 had a 51% ownership interest in the joint venture. In 2021, PDL was fully liquidated and all earnings were distributed. 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, 2021. The accompanying interim financial statements for the three and six months ended June 30, 2022 and 2021 are unaudited. The balance sheet as of December 31, 2021, 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 six months ended June 30, 2022 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: In March 2022, the FASB issued ASU 2022-02, Financial Instruments - Credit Losses (ASC 326): Troubled Debt Restructurings (TDRs) and Vintage Disclosures . The guidance amends ASC 326 to eliminate the accounting guidance for TDRs by creditors, while enhancing disclosure requirements for certain loan refinancing and restructuring activities by creditors when a borrower is experiencing financial difficulty. Specifically, rather than applying TDR recognition and measurement guidance, creditors will determine whether a modification results in a new loan or continuation of existing loan. These amendments are intended to enhance existing disclosure requirements and introduce new requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty. Additionally, the amendments to ASC 326 require that an entity disclose current-period gross write-offs by year of origination within the vintage disclosures, which requires that an entity disclose the amortized cost basis of financing receivables by credit quality indicator and class of financing receivable by year of origination. The guidance is only for entities that have adopted the amendments in Update 2016-13 for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022. Early adoption using prospective application, including adoption in an interim period where the guidance should be applied as of the beginning of the fiscal year. The Company is currently evaluating the impact the adoption of the standard will have on the Company’s financial position or results of operations . 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 and interim periods within those years. The Company has selected a third-party software vendor for the CECL calculation and to assist in the implementation of the model. The Company will utilize a lifetime loss rate calculation for all its loan portfolio's, as well as supplement the loss estimate by including reasonable and supportable forecasts of macroeconomic conditions. The Company began to perform parallel runs of the new model to its current ALLL model during the first quarter of 2022 and continues to evaluate the results and assumptions. Implementation efforts are continuing to focus on model validation, model calibration, qualitative factors, finalizing procedures and other governance and control documentation. The Company will adopt this new guidance on January 1, 2023, and is currently evaluating the impact of this new guidance on its 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)	6 Months Ended
	Jun. 30, 2022
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 June 30, 2022 and December 31, 2021: As of June 30, 2022 Amortized Gross Gross Fair value (Dollars in thousands) Available for sale: Corporate debt obligations $ 500 $ — $ — $ 500 Residential mortgage-backed securities 10,752 31 384 10,399 Collateralized mortgage obligations 4 — — 4 Total available for sale $ 11,256 $ 31 $ 384 $ 10,903 Held to maturity: Residential mortgage-backed securities $ 5,947 $ — $ 842 $ 5,105 States and political subdivisions 3,791 74 562 3,303 Total held to maturity $ 9,738 $ 74 $ 1,404 $ 8,408 As of December 31, 2021 Amortized Gross Gross Fair value (Dollars in thousands) Available for sale: Corporate debt obligations $ 500 $ — $ — $ 500 Residential mortgage-backed securities 12,513 372 42 12,843 Collateralized mortgage obligations 8 — — 8 Total available for sale $ 13,021 $ 372 $ 42 $ 13,351 Held to maturity: States and political subdivisions $ 3,761 $ 241 $ 16 $ 3,986 Residential mortgage-backed securities 6,157 — 118 6,039 Total held to maturity $ 9,918 $ 241 $ 134 $ 10,025
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 June 30, 2022 are as follows: Amortized Fair (Dollars in thousands) Available for sale: Due within one year $ — $ — Due after one year through five years 728 717 Due after five years through ten years 6,012 5,840 Due after ten years 4,516 4,346 Total available for sale $ 11,256 $ 10,903 Held to maturity: Due within one year $ — $ — Due after one year through five years 1,314 1,389 Due after five years through ten years — — Due after ten years 8,424 7,019 Total held to maturity $ 9,738 $ 8,408
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 June 30, 2022 and December 31, 2021: As of June 30, 2022 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 $ 7,902 $ 283 $ 1,126 $ 101 $ 9,028 $ 384 Total available for sale $ 7,902 $ 283 $ 1,126 $ 101 $ 9,028 $ 384 Held to maturity: Residential mortgage-backed securities $ 5,105 $ 842 $ — $ — $ 5,105 $ 842 States and political subdivisions 1,914 562 — — 1,914 562 Total held to maturity $ 7,019 $ 1,404 $ — $ — $ 7,019 $ 1,404 As of December 31, 2021 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 $ 168 $ 1 $ 1,418 $ 41 $ 1,586 $ 42 Total available for sale $ 168 $ 1 $ 1,418 $ 41 $ 1,586 $ 42 Held to maturity: Residential mortgage-backed securities 6,039 $ 118 $ — $ — $ 6,039 $ 118 States and political subdivisions 2,462 16 — — 2,462 16 Total held to maturity $ 8,501 $ 134 $ — $ — $ 8,501 $ 134

LOANS AND ALLOWANCE FOR LOAN _2

LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
Portfolio of Loans Outstanding	The portfolios of loans receivable at June 30, 2022 and December 31, 2021, consist of the following: June 30, 2022 December 31, 2021 Amount Amount (Dollars in thousands) Commercial and Industrial $ 35,739 $ 57,151 Construction 146,806 154,077 Real Estate Mortgage: Commercial – Owner Occupied 128,782 123,672 Commercial – Non-owner Occupied 325,135 306,486 Residential – 1 to 4 Family 826,504 750,525 Residential – Multifamily 77,797 84,964 Consumer 7,370 7,972 Total Loans $ 1,548,133 $ 1,484,847
Age Analysis of Past Due Loans by Class	An age analysis of past due loans by class at June 30, 2022 and December 31, 2021 is as follows: June 30, 2022 30-59 60-89 Greater Total Past Current Total Loans > 90 Days and Accruing (Dollars in Thousands) Commercial and Industrial $ — $ 91 $ 158 $ 249 $ 35,490 $ 35,739 $ — Construction — — 1,139 1,139 145,667 146,806 — Real Estate Mortgage: Commercial – Owner Occupied — — 1,016 1,016 127,766 128,782 — Commercial – Non-owner Occupied — 14,380 1,328 15,708 309,427 325,135 — Residential – 1 to 4 Family — 93 230 323 826,181 826,504 — Residential – Multifamily — — — — 77,797 77,797 — Consumer — 70 — 70 7,300 7,370 — Total Loans $ — $ 14,634 $ 3,871 $ 18,505 $ 1,529,628 $ 1,548,133 $ — December 31, 2021 30-59 60-89 Greater Total Past Current Total Loans > 90 Days and Accruing (Dollars in thousands) Commercial and Industrial $ — $ 349 $ 224 $ 573 $ 56,578 $ 57,151 $ — Construction — — 1,139 1,139 152,938 154,077 — Real Estate Mortgage: Commercial – Owner Occupied — — 2,170 2,170 121,502 123,672 — Commercial – Non-owner Occupied — — 242 242 306,244 306,486 — Residential – 1 to 4 Family 81 — 533 614 749,911 750,525 — Residential – Multifamily — — — — 84,964 84,964 — Consumer — — — — 7,972 7,972 — Total Loans $ 81 $ 349 $ 4,308 $ 4,738 $ 1,480,109 $ 1,484,847 $ —
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 June 30, 2022 March 31, 2022 $ 509 $ 2,197 $ 3,012 $ 7,253 $ 15,482 $ 1,415 $ 113 $ 29,981 Charge-offs — — — — — — — — Recoveries 2 100 2 — 13 — — 117 Provisions (benefits) 40 (95) (272) 296 716 (317) (18) 350 Ending Balance at June 30, 2022 $ 551 $ 2,202 $ 2,742 $ 7,549 $ 16,211 $ 1,098 $ 95 $ 30,448 Allowance for loan losses Six months ended June 30, 2022 December 31, 2021 $ 417 $ 2,662 $ 2,997 $ 7,476 $ 14,970 $ 1,215 $ 108 $ 29,845 Charge-offs — — — — — — — — Recoveries 8 100 5 — 134 6 — 253 Provisions (benefits) 126 (560) (260) 73 1,107 (123) (13) 350 Ending Balance at June 30, 2022 $ 551 $ 2,202 $ 2,742 $ 7,549 $ 16,211 $ 1,098 $ 95 $ 30,448 Allowance for loan losses Individually evaluated for impairment $ — $ — $ 4 $ 120 $ 22 $ — $ — $ 146 Collectively evaluated for impairment 551 2,202 2,738 7,429 16,189 1,098 95 30,302 Ending Balance at June 30, 2022 $ 551 $ 2,202 $ 2,742 $ 7,549 $ 16,211 $ 1,098 $ 95 $ 30,448 Loans Individually evaluated for impairment $ 158 $ 1,139 $ 2,364 $ 5,363 $ 490 $ — $ — $ 9,514 Collectively evaluated for impairment 35,581 145,667 126,418 319,772 826,014 77,797 7,370 1,538,619 Ending Balance at June 30, 2022 $ 35,739 $ 146,806 $ 128,782 $ 325,135 $ 826,504 $ 77,797 $ 7,370 $ 1,548,133 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 June 30, 2021 March 31, 2021 $ 474 $ 3,744 $ 3,335 $ 9,160 $ 11,825 $ 1,538 $ 134 $ 30,210 Charge-offs — — — (153) — — — (153) Recoveries 8 — 3 — — — — 11 Provisions (benefits) (170) (262) 164 (493) 1,058 (288) (9) — Ending Balance at June 30, 2021 $ 312 $ 3,482 $ 3,502 $ 8,514 $ 12,883 $ 1,250 $ 125 $ 30,068 Allowance for loan losses Six months ended June 30, 2021 December 31, 2020 $ 492 $ 3,359 $ 3,078 $ 8,398 $ 12,595 $ 1,639 $ 137 $ 29,698 Charge-offs — — — (153) — — — (153) Recoveries 12 — 11 — — — — 23 Provisions (benefits) (192) 123 413 269 288 (389) (12) 500 Ending Balance at June 30, 2021 $ 312 $ 3,482 $ 3,502 $ 8,514 $ 12,883 $ 1,250 $ 125 $ 30,068 Allowance for loan losses Individually evaluated for impairment $ 10 $ 220 $ 6 $ 236 $ 133 $ — $ — $ 605 Collectively evaluated for impairment 302 3,262 3,496 8,278 12,750 1,250 125 29,463 Ending Balance at June 30, 2021 $ 312 $ 3,482 $ 3,502 $ 8,514 $ 12,883 $ 1,250 $ 125 $ 30,068 Loans Individually evaluated for impairment $ 48 $ 1,365 $ 2,379 $ 5,724 $ 1,478 $ — $ 178 $ 11,172 Collectively evaluated for impairment 94,808 198,867 128,779 312,789 679,870 83,806 9,000 1,507,919 Ending Balance at June 30, 2021 $ 94,856 $ 200,232 $ 131,158 $ 318,513 $ 681,348 $ 83,806 $ 9,178 $ 1,519,091
Impaired Loans	The following tables provide further detail on impaired loans and the associated ALLL at June 30, 2022 and December 31, 2021: June 30, 2022 Recorded Unpaid Related (Dollars in thousands) With no related allowance recorded: Commercial and Industrial $ 158 $ 158 $ — Construction 1,139 5,856 — Real Estate Mortgage: Commercial – Owner Occupied 2,171 2,171 — Commercial – Non-owner Occupied 173 173 — Residential – 1 to 4 Family 230 230 — Residential – Multifamily — — — Consumer — — — 3,871 8,588 — With an allowance recorded: Commercial and Industrial — — — Construction — — — Real Estate Mortgage: Commercial – Owner Occupied 193 193 4 Commercial – Non-owner Occupied 5,190 5,190 120 Residential – 1 to 4 Family 260 260 22 Residential – Multifamily — — — Consumer — — — 5,643 5,643 146 Total: Commercial and Industrial 158 158 — Construction 1,139 5,856 — Real Estate Mortgage: Commercial – Owner Occupied 2,364 2,364 4 Commercial – Non-owner Occupied 5,363 5,363 120 Residential – 1 to 4 Family 490 490 22 Residential – Multifamily — — — Consumer — — — $ 9,514 $ 14,231 $ 146 December 31, 2021 Recorded Unpaid Related (Dollars in thousands) With no related allowance recorded: Commercial and Industrial $ 216 $ 216 $ — Construction — — — Real Estate Mortgage: Commercial – Owner Occupied 2,170 2,170 — Commercial – Non-owner Occupied 242 242 — Residential – 1 to 4 Family 465 599 — Residential – Multifamily — — — Consumer — — — 3,093 3,227 — With an allowance recorded: Commercial and Industrial 8 16 8 Construction 1,139 5,856 300 Real Estate Mortgage: Commercial – Owner Occupied 199 199 5 Commercial – Non-owner Occupied 5,335 5,335 218 Residential – 1 to 4 Family 528 528 60 Residential – Multifamily — — — Consumer — — — 7,209 11,934 591 Total: Commercial and Industrial 224 232 8 Construction 1,139 5,856 300 Real Estate Mortgage: Commercial – Owner Occupied 2,369 2,369 5 Commercial – Non-owner Occupied 5,577 5,577 218 Residential – 1 to 4 Family 993 1,127 60 Residential – Multifamily — — — Consumer — — — $ 10,302 $ 15,161 $ 591 The following table presents by loan portfolio class, the average recorded investment and interest income recognized on impaired loans for the three and six months ended June 30, 2022 and 2021: Three Months Ended June 30, 2022 2021 Average Interest Average Interest (Dollars in thousands) Commercial and Industrial $ 177 $ — $ 52 $ — Construction 1,139 — 1,365 — Real Estate Mortgage: Commercial – Owner Occupied 2,367 3 2,447 3 Commercial – Non-owner Occupied 5,402 68 5,665 70 Residential – 1 to 4 Family 588 4 1,487 11 Residential – Multifamily — — — — Consumer — — 178 2 Total $ 9,673 $ 75 $ 11,194 $ 86 Six Months Ended June 30, 2022 2021 Average Interest Average Interest (Dollars in thousands) Commercial and Industrial $ 190 $ — $ 51 $ — Construction 1,139 — 1,365 — Real Estate Mortgage: Commercial – Owner Occupied 2,367 6 2,449 6 Commercial – Non-owner Occupied 5,436 135 5,673 135 Residential – 1 to 4 Family 623 11 1,496 26 Residential – Multifamily — — — — Consumer — — 178 4 Total $ 9,755 $ 152 $ 11,212 $ 171
Analysis of Credit Risk Profile by Internally Assigned Grades	An analysis of the credit risk profile by internally assigned grades as of June 30, 2022 and December 31, 2021 is as follows: At June 30, 2022 Pass OAEM Substandard Doubtful Total (Dollars in thousands) Commercial and Industrial $ 35,581 $ — $ 158 $ — $ 35,739 Construction 145,667 — 1,139 — 146,806 Real Estate Mortgage: Commercial – Owner Occupied 123,582 3,029 2,171 — 128,782 Commercial – Non-owner Occupied 310,582 14,380 173 — 325,135 Residential – 1 to 4 Family 826,274 — 230 — 826,504 Residential – Multifamily 77,797 — — — 77,797 Consumer 7,370 — — — 7,370 Total $ 1,526,853 $ 17,409 $ 3,871 $ — $ 1,548,133 At December 31, 2021 Pass OAEM Substandard Doubtful Total (Dollars in thousands) Commercial and Industrial $ 56,927 $ — $ 224 $ — $ 57,151 Construction 152,938 — 1,139 — 154,077 Real Estate Mortgage: Commercial – Owner Occupied 118,473 3,029 2,170 — 123,672 Commercial – Non-owner Occupied 291,864 14,380 242 — 306,486 Residential – 1 to 4 Family 749,904 — 621 — 750,525 Residential – Multifamily 84,964 — — — 84,964 Consumer 7,972 — — — 7,972 Total $ 1,463,042 $ 17,409 $ 4,396 $ — $ 1,484,847

EQUITY AND CHANGES IN OTHER C_2

EQUITY AND CHANGES IN OTHER COMPREHENSIVE INCOME (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Accumulated Other Comprehensive Loss	The changes in accumulated other comprehensive loss consisted of the following for the six months ended June 30, 2022 and 2021, and there were no reclassification adjustments during the period: For the Three Months Ended 2022 2021 (Dollars in thousands) Investment securities: Net unrealized losses arising during the period $ (99) $ (15) Tax effect related to the unrealized loss during the periods 25 4 Change in other comprehensive loss $ (74) $ (11) For the Six Months Ended June 30, 2022 2021 (Dollars in thousands) Investment securities: Net unrealized losses arising during the period $ (683) $ (127) Tax effect related to the unrealized loss during the periods 176 33 Change in other comprehensive loss $ (507) $ (94)

EARNINGS PER SHARE ("EPS") (Tab

EARNINGS PER SHARE ("EPS") (Tables)	6 Months Ended
	Jun. 30, 2022
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 six-month periods ended June 30, 2022 and 2021. Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 (Dollars in thousands except share and per share data) Basic earnings per common share Net income available to the Company $ 10,738 $ 10,757 $ 20,829 $ 20,186 Less: Dividend on series B preferred stock (7) (7) (14) (14) Net income available to common shareholders 10,731 10,750 20,815 20,172 Basic weighted-average common shares outstanding 11,914,454 11,891,558 11,909,892 11,881,902 Basic earnings per common share $ 0.90 $ 0.90 $ 1.75 $ 1.70 Diluted earnings per common share Net income available to common shares $ 10,731 $ 10,750 $ 20,815 $ 20,172 Add: Dividend on series B preferred stock 7 7 14 14 Net income available to diluted common shares 10,738 10,757 20,829 20,186 Basic weighted-average common shares outstanding 11,914,454 11,891,558 11,909,892 11,881,902 Dilutive potential common shares 270,798 220,135 272,894 228,367 Diluted weighted-average common shares outstanding 12,185,252 12,111,693 12,182,786 12,110,269 Diluted earnings per common share $ 0.88 $ 0.89 $ 1.71 $ 1.67

FAIR VALUE (Tables)

FAIR VALUE (Tables)	6 Months Ended
	Jun. 30, 2022
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 As of June 30, 2022 Corporate debt obligations $ — $ 500 $ — $ 500 Residential mortgage-backed securities — 10,399 — 10,399 Collateralized mortgage-backed securities — 4 — 4 Total $ — $ 10,903 $ — $ 10,903 As of December 31, 2021 Corporate debt obligations $ — $ 500 $ — $ 500 Residential mortgage-backed securities — 12,843 — 12,843 Collateralized mortgage-backed securities — 8 — 8 Total $ — $ 13,351 $ — $ 13,351
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 June 30, 2022 Collateral-dependent impaired loans $ — $ — $ 3,972 $ 3,972 As of December 31, 2021 Collateral-dependent impaired loans $ — $ — $ 4,087 $ 4,087 OREO — — 1,654 1,654
Summary of Carrying Value and Fair Value of Financial Instruments	The following table summarizes the carrying amounts and fair values for financial instruments at June 30, 2022 and December 31, 2021: June 30, 2022 Carrying Amount Fair Value Total Level 1 Level 2 Level 3 (Dollars in thousands) Financial Assets: Investment securities AFS 10,903 10,903 — 10,903 — Investment securities HTM 9,738 8,408 — 8,408 — Restricted stock 5,226 5,226 — — 5,226 Loans, net 1,517,685 1,482,195 — 1,477,214 4,981 Financial Liabilities: Time deposits 508,589 511,448 — 511,448 — Borrowings 120,976 117,656 — 117,656 — December 31, 2021 Carrying Amount Fair Value Total Level 1 Level 2 Level 3 (Dollars in thousands) Financial Assets: Investment securities AFS 13,351 13,351 — 13,351 — Investment securities HTM 9,918 10,025 — 10,025 — Restricted stock 5,144 5,144 — — 5,144 Loans, net 1,455,002 1,440,398 — 1,430,686 9,712 Financial Liabilities: Time deposits 593,746 597,791 — 597,791 — Borrowings 120,882 117,636 — 117,636 —

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Schedule of Assets and Liabilities, Lessee	The following table presents information about our operating leases at June 30, 2022: June 30, 2022 (Dollars in thousands) Lease right of use ("ROU") assets $ 1,941 Lease liabilities $ 1,941
Schedule of Future Undiscounted Cash Flows on Operating Leases	The following table presents future undiscounted cash flows on our operating leases: June 30, 2022 (Dollars in thousands) Remainder of 2022 $ 165 2023 332 2024 348 2025 352 2026 283 Thereafter 26,301 Total undiscounted lease payments $ 27,781

REGULATORY MATTERS (Tables)

REGULATORY MATTERS (Tables)	6 Months Ended
	Jun. 30, 2022
Banking and Thrift, Other Disclosure [Abstract]
Quantitative Measures Established by Regulation to Ensure Capital Adequacy Minimum Amounts and Ratios	The leverage ratios of the Company and the Bank at June 30, 2022 are as follows: Regulatory Capital Compliance As of June 30, 2022 Actual For Capital Adequacy (Dollars in thousands except ratios) Amount Ratio Amount Ratio Company: Tier 1 leverage $ 262,782 13.01 % $ 181,762 9.00 % Parke Bank: Community Bank Leverage Ratio $ 291,270 14.43 % $ 181,726 9.00 % The Company and Bank's regulatory capital as of December 31, 2021, is presented in the following table. As of December 31, 2021 Actual For Capital Adequacy (Dollars in thousands except ratios) Amount Ratio Amount Ratio Company: Total risk-based capital $ 290,965 22.57 % $ 103,151 8.00 % Tier 1 risk-based capital 245,519 19.04 % 77,363 6.00 % Tier 1 leverage 245,519 11.49 % 85,494 4.00 % Tier 1 common equity 231,671 17.97 % 58,023 4.50 % Parke Bank: Tier 1 leverage 273,884 12.82 % 181,640 8.50 % * Combination of both community bank leverage approach and the regular rule of capital adequacy.

ORGANIZATION (Details)

ORGANIZATION (Details)	6 Months Ended
	Jun. 30, 2022 branch
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of additional branch office locations	6

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Jun. 30, 2022
Parke Direct Lending LLC
Noncontrolling Interest [Line Items]
Joint venture, ownership percentage	51%

INVESTMENT SECURITIES - Summary

INVESTMENT SECURITIES - Summary of Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Available for sale:
Amortized cost	$ 11,256	$ 13,021
Gross unrealized gains	31	372
Gross unrealized losses	384	42
Fair value	10,903	13,351
Held to maturity:
Amortized cost	9,738	9,918
Gross unrealized gains	74	241
Gross unrealized losses	1,404	134
Fair value	8,408	10,025
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	10,752	12,513
Gross unrealized gains	31	372
Gross unrealized losses	384	42
Fair value	10,399	12,843
Held to maturity:
Amortized cost	5,947	6,157
Gross unrealized gains	0	0
Gross unrealized losses	842	118
Fair value	5,105	6,039
Collateralized mortgage obligations
Available for sale:
Amortized cost	4	8
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Fair value	4	8
States and political subdivisions
Held to maturity:
Amortized cost	3,791	3,761
Gross unrealized gains	74	241
Gross unrealized losses	562	16
Fair value	$ 3,303	$ 3,986

INVESTMENT SECURITIES - Amortiz

INVESTMENT SECURITIES - Amortized Cost and Fair Value of Debt Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Amortized Cost
Due within one year	$ 0
Due after one year through five years	728
Due after five years through ten years	6,012
Due after ten years	4,516
Amortized cost	11,256	$ 13,021
Fair Value
Due within one year	0
Due after one year through five years	717
Due after five years through ten years	5,840
Due after ten years	4,346
Total available for sale	10,903	13,351
Amortized Cost
Due within one year	0
Due after one year through five years	1,314
Due after five years through ten years	0
Due after ten years	8,424
Amortized cost	9,738	9,918
Fair Value
Due within one year	0
Due after one year through five years	1,389
Due after five years through ten years	0
Due after ten years	7,019
Total held to maturity	$ 8,408	$ 10,025

INVESTMENT SECURITIES - Gross U

INVESTMENT SECURITIES - Gross Unrealized Losses and Fair Value of Investments with Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Available for sale:
Less Than 12 Months, Fair Value	$ 7,902	$ 168
12 Months or Greater, Fair value	1,126	1,418
Total, Fair Value	9,028	1,586
Less Than 12 Months, Unrealized Losses	283	1
12 Months or Greater, Unrealized Losses	101	41
Total, Unrealized Losses	384	42
Held to maturity:
Less Than 12 Months, Fair Value	7,019	8,501
12 Months or Greater, Fair value	0	0
Total, Fair Value	7,019	8,501
Less Than 12 Months, Unrealized Losses	1,404	134
12 Months or Greater, Unrealized Losses	0	0
Total, Unrealized Losses	1,404	134
Residential mortgage-backed securities
Available for sale:
Less Than 12 Months, Fair Value	7,902	168
12 Months or Greater, Fair value	1,126	1,418
Total, Fair Value	9,028	1,586
Less Than 12 Months, Unrealized Losses	283	1
12 Months or Greater, Unrealized Losses	101	41
Total, Unrealized Losses	384	42
Held to maturity:
Less Than 12 Months, Fair Value	5,105	6,039
12 Months or Greater, Fair value	0	0
Total, Fair Value	5,105	6,039
Less Than 12 Months, Unrealized Losses	842	118
12 Months or Greater, Unrealized Losses	0	0
Total, Unrealized Losses	842	118
States and political subdivisions
Held to maturity:
Less Than 12 Months, Fair Value	1,914	2,462
12 Months or Greater, Fair value	0	0
Total, Fair Value	1,914	2,462
Less Than 12 Months, Unrealized Losses	562	16
12 Months or Greater, Unrealized Losses	0	0
Total, Unrealized Losses	$ 562	$ 16

INVESTMENT SECURITIES - Narrati

INVESTMENT SECURITIES - Narrative (Details) - Residential mortgage-backed securities - security	Jun. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Number of debt securities, loss position, less than 12 months	17	5
Number of debt securities, loss position, 12 months or greater	2	3

LOANS AND ALLOWANCE FOR LOAN _3

LOANS AND ALLOWANCE FOR LOAN LOSSES - Portfolio of Loans Outstanding (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	$ 1,548,133,000	$ 1,484,847,000	$ 1,519,091,000
Unearned income, net deferred loan fees and unamortized discounts and premiums	2,000,000	1,700,000
Loans held for sale	0	0
SBA PPP
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	4,400,000	27,800,000
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	35,739,000	57,151,000	94,856,000
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	146,806,000	154,077,000	200,232,000
Real Estate Mortgage | Commercial – Owner Occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	128,782,000	123,672,000	131,158,000
Real Estate Mortgage | Commercial – Non-owner Occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	325,135,000	306,486,000	318,513,000
Real Estate Mortgage | Residential – 1 to 4 Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	826,504,000	750,525,000	681,348,000
Real Estate Mortgage | Residential – Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	77,797,000	84,964,000	83,806,000
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	$ 7,370,000	$ 7,972,000	$ 9,178,000

LOANS AND ALLOWANCE FOR LOAN _4

LOANS AND ALLOWANCE FOR LOAN LOSSES - Nonaccrual and Past Due Loans (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	$ 1,548,133	$ 1,484,847	$ 1,519,091
Loans > 90 Days and Accruing	0	0
Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	18,505	4,738
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	81
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	14,634	349
Greater than 90 Days and Not Accruing
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	3,871	4,308
Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,529,628	1,480,109
Commercial and Industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	35,739	57,151	94,856
Loans > 90 Days and Accruing	0	0
Commercial and Industrial | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	249	573
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	91	349
Commercial and Industrial | Greater than 90 Days and Not Accruing
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	158	224
Commercial and Industrial | Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	35,490	56,578
Construction
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	146,806	154,077	200,232
Loans > 90 Days and Accruing	0	0
Construction | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,139	1,139
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	1,139
Construction | Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	145,667	152,938
Real Estate Mortgage | Commercial – Owner Occupied
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	128,782	123,672	131,158
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	1,016	2,170
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	0
Real Estate Mortgage | Commercial – Owner Occupied | Greater than 90 Days and Not Accruing
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,016	2,170
Real Estate Mortgage | Commercial – Owner Occupied | Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	127,766	121,502
Real Estate Mortgage | Commercial – Non-owner Occupied
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	325,135	306,486	318,513
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	15,708	242
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	14,380	0
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	1,328	242
Real Estate Mortgage | Commercial – Non-owner Occupied | Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	309,427	306,244
Real Estate Mortgage | Residential – 1 to 4 Family
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	826,504	750,525	681,348
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	323	614
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	81
Real Estate Mortgage | Residential – 1 to 4 Family | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	93	0
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	230	533
Real Estate Mortgage | Residential – 1 to 4 Family | Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	826,181	749,911
Real Estate Mortgage | Residential – Multifamily
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	77,797	84,964	83,806
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	77,797	84,964
Consumer
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	7,370	7,972	$ 9,178
Loans > 90 Days and Accruing	0	0
Consumer | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	70	0
Consumer | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0
Consumer | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	70	0
Consumer | Greater than 90 Days and Not Accruing
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0
Consumer | Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	$ 7,300	$ 7,972

LOANS AND ALLOWANCE FOR LOAN _5

LOANS AND ALLOWANCE FOR LOAN LOSSES - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Allowance for Loan Losses [Roll Forward]
Beginning balance	$ 29,981	$ 30,210	$ 29,845	$ 29,698
Charge-offs	0	(153)	0	(153)
Recoveries	117	11	253	23
Provisions (benefits)	350	0	350	500
Ending balance	30,448	30,068	30,448	30,068
Allowance for loan losses
Individually evaluated for impairment	146	605	146	605
Collectively evaluated for impairment	30,302	29,463	30,302	29,463
Allowance for loan losses	30,448	30,068	30,448	30,068	$ 29,845
Loans
Individually evaluated for impairment	9,514	11,172	9,514	11,172
Collectively evaluated for impairment	1,538,619	1,507,919	1,538,619	1,507,919
Total Loans	1,548,133	1,519,091	1,548,133	1,519,091	1,484,847
Commercial and Industrial
Allowance for Loan Losses [Roll Forward]
Beginning balance	509	474	417	492
Charge-offs	0	0	0	0
Recoveries	2	8	8	12
Provisions (benefits)	40	(170)	126	(192)
Ending balance	551	312	551	312
Allowance for loan losses
Individually evaluated for impairment	0	10	0	10
Collectively evaluated for impairment	551	302	551	302
Allowance for loan losses	551	312	551	312	417
Loans
Individually evaluated for impairment	158	48	158	48
Collectively evaluated for impairment	35,581	94,808	35,581	94,808
Total Loans	35,739	94,856	35,739	94,856	57,151
Construction
Allowance for Loan Losses [Roll Forward]
Beginning balance	2,197	3,744	2,662	3,359
Charge-offs	0	0	0	0
Recoveries	100	0	100	0
Provisions (benefits)	(95)	(262)	(560)	123
Ending balance	2,202	3,482	2,202	3,482
Allowance for loan losses
Individually evaluated for impairment	0	220	0	220
Collectively evaluated for impairment	2,202	3,262	2,202	3,262
Allowance for loan losses	2,202	3,482	2,202	3,482	2,662
Loans
Individually evaluated for impairment	1,139	1,365	1,139	1,365
Collectively evaluated for impairment	145,667	198,867	145,667	198,867
Total Loans	146,806	200,232	146,806	200,232	154,077
Real Estate Mortgage | Commercial Owner Occupied
Allowance for Loan Losses [Roll Forward]
Beginning balance	3,012	3,335	2,997	3,078
Charge-offs	0	0	0	0
Recoveries	2	3	5	11
Provisions (benefits)	(272)	164	(260)	413
Ending balance	2,742	3,502	2,742	3,502
Allowance for loan losses
Individually evaluated for impairment	4	6	4	6
Collectively evaluated for impairment	2,738	3,496	2,738	3,496
Allowance for loan losses	2,742	3,502	2,742	3,502	2,997
Loans
Individually evaluated for impairment	2,364	2,379	2,364	2,379
Collectively evaluated for impairment	126,418	128,779	126,418	128,779
Total Loans	128,782	131,158	128,782	131,158	123,672
Real Estate Mortgage | Commercial Non-owner Occupied
Allowance for Loan Losses [Roll Forward]
Beginning balance	7,253	9,160	7,476	8,398
Charge-offs	0	(153)	0	(153)
Recoveries	0	0	0	0
Provisions (benefits)	296	(493)	73	269
Ending balance	7,549	8,514	7,549	8,514
Allowance for loan losses
Individually evaluated for impairment	120	236	120	236
Collectively evaluated for impairment	7,429	8,278	7,429	8,278
Allowance for loan losses	7,549	8,514	7,549	8,514	7,476
Loans
Individually evaluated for impairment	5,363	5,724	5,363	5,724
Collectively evaluated for impairment	319,772	312,789	319,772	312,789
Total Loans	325,135	318,513	325,135	318,513	306,486
Real Estate Mortgage | Residential 1 to 4 Family
Allowance for Loan Losses [Roll Forward]
Beginning balance	15,482	11,825	14,970	12,595
Charge-offs	0	0	0	0
Recoveries	13	0	134	0
Provisions (benefits)	716	1,058	1,107	288
Ending balance	16,211	12,883	16,211	12,883
Allowance for loan losses
Individually evaluated for impairment	22	133	22	133
Collectively evaluated for impairment	16,189	12,750	16,189	12,750
Allowance for loan losses	16,211	12,883	16,211	12,883	14,970
Loans
Individually evaluated for impairment	490	1,478	490	1,478
Collectively evaluated for impairment	826,014	679,870	826,014	679,870
Total Loans	826,504	681,348	826,504	681,348	750,525
Real Estate Mortgage | Residential Multifamily
Allowance for Loan Losses [Roll Forward]
Beginning balance	1,415	1,538	1,215	1,639
Charge-offs	0	0	0	0
Recoveries	0	0	6	0
Provisions (benefits)	(317)	(288)	(123)	(389)
Ending balance	1,098	1,250	1,098	1,250
Allowance for loan losses
Individually evaluated for impairment	0	0	0	0
Collectively evaluated for impairment	1,098	1,250	1,098	1,250
Allowance for loan losses	1,098	1,250	1,098	1,250	1,215
Loans
Individually evaluated for impairment	0	0	0	0
Collectively evaluated for impairment	77,797	83,806	77,797	83,806
Total Loans	77,797	83,806	77,797	83,806	84,964
Consumer
Allowance for Loan Losses [Roll Forward]
Beginning balance	113	134	108	137
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provisions (benefits)	(18)	(9)	(13)	(12)
Ending balance	95	125	95	125
Allowance for loan losses
Individually evaluated for impairment	0	0	0	0
Collectively evaluated for impairment	95	125	95	125
Allowance for loan losses	95	125	95	125	108
Loans
Individually evaluated for impairment	0	178	0	178
Collectively evaluated for impairment	7,370	9,000	7,370	9,000
Total Loans	$ 7,370	$ 9,178	$ 7,370	$ 9,178	$ 7,972

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		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
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	$ 3,871		$ 3,871		$ 3,093
With an allowance recorded	5,643		5,643		7,209
Total recorded investment	9,514		9,514		10,302
Unpaid Principal Balance
With no related allowance recorded	8,588		8,588		3,227
With an allowance recorded	5,643		5,643		11,934
Total unpaid principal balance	14,231		14,231		15,161
Related Allowance
Total related allowance	146		146		591
Average recorded investment and interest income recognized
Average Recorded Investment	9,673	$ 11,194	9,755	$ 11,212
Interest Income Recognized	75	86	152	171
Commercial and Industrial
Recorded Investment
With no related allowance recorded	158		158		216
With an allowance recorded	0		0		8
Total recorded investment	158		158		224
Unpaid Principal Balance
With no related allowance recorded	158		158		216
With an allowance recorded	0		0		16
Total unpaid principal balance	158		158		232
Related Allowance
Total related allowance	0		0		8
Average recorded investment and interest income recognized
Average Recorded Investment	177	52	190	51
Interest Income Recognized	0	0	0	0
Construction
Recorded Investment
With no related allowance recorded	1,139		1,139		0
With an allowance recorded	0		0		1,139
Total recorded investment	1,139		1,139		1,139
Unpaid Principal Balance
With no related allowance recorded	5,856		5,856		0
With an allowance recorded	0		0		5,856
Total unpaid principal balance	5,856		5,856		5,856
Related Allowance
Total related allowance	0		0		300
Average recorded investment and interest income recognized
Average Recorded Investment	1,139	1,365	1,139	1,365
Interest Income Recognized	0	0	0	0
Real Estate Mortgage | Commercial – Owner Occupied
Recorded Investment
With no related allowance recorded	2,171		2,171		2,170
With an allowance recorded	193		193		199
Total recorded investment	2,364		2,364		2,369
Unpaid Principal Balance
With no related allowance recorded	2,171		2,171		2,170
With an allowance recorded	193		193		199
Total unpaid principal balance	2,364		2,364		2,369
Related Allowance
Total related allowance	4		4		5
Average recorded investment and interest income recognized
Average Recorded Investment	2,367	2,447	2,367	2,449
Interest Income Recognized	3	3	6	6
Real Estate Mortgage | Commercial – Non-owner Occupied
Recorded Investment
With no related allowance recorded	173		173		242
With an allowance recorded	5,190		5,190		5,335
Total recorded investment	5,363		5,363		5,577
Unpaid Principal Balance
With no related allowance recorded	173		173		242
With an allowance recorded	5,190		5,190		5,335
Total unpaid principal balance	5,363		5,363		5,577
Related Allowance
Total related allowance	120		120		218
Average recorded investment and interest income recognized
Average Recorded Investment	5,402	5,665	5,436	5,673
Interest Income Recognized	68	70	135	135
Real Estate Mortgage | Residential – 1 to 4 Family
Recorded Investment
With no related allowance recorded	230		230		465
With an allowance recorded	260		260		528
Total recorded investment	490		490		993
Unpaid Principal Balance
With no related allowance recorded	230		230		599
With an allowance recorded	260		260		528
Total unpaid principal balance	490		490		1,127
Related Allowance
Total related allowance	22		22		60
Average recorded investment and interest income recognized
Average Recorded Investment	588	1,487	623	1,496
Interest Income Recognized	4	11	11	26
Real Estate Mortgage | Residential – Multifamily
Recorded Investment
With no related allowance recorded	0		0		0
With an allowance recorded	0		0		0
Total recorded investment	0		0		0
Unpaid Principal Balance
With no related allowance recorded	0		0		0
With an allowance recorded	0		0		0
Total unpaid principal balance	0		0		0
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	0		0		0
With an allowance recorded	0		0		0
Total recorded investment	0		0		0
Unpaid Principal Balance
With no related allowance recorded	0		0		0
With an allowance recorded	0		0		0
Total unpaid principal balance	0		0		0
Related Allowance
Total related allowance	0		0		$ 0
Average recorded investment and interest income recognized
Average Recorded Investment	0	178	0	178
Interest Income Recognized	$ 0	$ 2	$ 0	$ 4

LOANS AND ALLOWANCE FOR LOAN _7

LOANS AND ALLOWANCE FOR LOAN LOSSES - Troubled Debt Restructuring (Details)	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($) loan	Jun. 30, 2022 USD ($) loan	Dec. 31, 2021 USD ($) loan
Receivables [Abstract]
Performing TDRs	$ 5,600,000	$ 5,600,000	$ 6,000,000
Nonperforming TDRs	$ 0	$ 0	$ 0
Number of loans modified as TDRs | loan	0	0	0
Current payment term		6 months
Debt coverage ratio	1.25	1.25
Allowances for performing TDRs	$ 146,000	$ 146,000	$ 254,000

LOANS AND ALLOWANCE FOR LOAN _8

LOANS AND ALLOWANCE FOR LOAN LOSSES - Credit Quality Indicators (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 1,548,133	$ 1,484,847	$ 1,519,091
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	1,526,853	1,463,042
OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	17,409	17,409
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	3,871	4,396
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	35,739	57,151	94,856
Commercial and Industrial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	35,581	56,927
Commercial and Industrial | OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Commercial and Industrial | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	158	224
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	146,806	154,077	200,232
Construction | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	145,667	152,938
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	1,139
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	128,782	123,672	131,158
Real Estate Mortgage | Commercial – Owner Occupied | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	123,582	118,473
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	2,171	2,170
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	325,135	306,486	318,513
Real Estate Mortgage | Commercial – Non-owner Occupied | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	310,582	291,864
Real Estate Mortgage | Commercial – Non-owner Occupied | OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	14,380	14,380
Real Estate Mortgage | Commercial – Non-owner Occupied | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	173	242
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	826,504	750,525	681,348
Real Estate Mortgage | Residential – 1 to 4 Family | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	826,274	749,904
Real Estate Mortgage | Residential – 1 to 4 Family | OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage | Residential – 1 to 4 Family | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	230	621
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	77,797	84,964	83,806
Real Estate Mortgage | Residential – Multifamily | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	77,797	84,964
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	7,370	7,972	$ 9,178
Consumer | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	7,370	7,972
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	0	0
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 ($)					3 Months Ended		6 Months Ended
	Jun. 21, 2022	Mar. 22, 2022	Jun. 22, 2021	Apr. 23, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Total equity					$ 249,117,000	$ 217,011,000	$ 249,117,000	$ 217,011,000	$ 240,279,000	$ 232,361,000	$ 209,944,000	$ 202,597,000
Common stock, dividends, declared (in dollars per share)	$ 0.16	$ 0.16	$ 0.16	$ 0.16
Preferred stock dividends declared					6,675	14,100	13,350	14,100
Preferred Stock
Class of Stock [Line Items]
Total equity					445,000	470,000	445,000	$ 470,000	445,000	445,000	470,000	480,000
Shares converted (in shares)								10
Common Stock
Class of Stock [Line Items]
Total equity					$ 1,220,000	$ 1,218,000	$ 1,220,000	$ 1,218,000	$ 1,220,000	$ 1,218,000	$ 1,217,000	$ 1,214,000
Shares converted (in shares)								1,375

EQUITY AND CHANGES IN OTHER C_4

EQUITY AND CHANGES IN OTHER COMPREHENSIVE INCOME - Comprehensive (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Equity [Abstract]
Net unrealized losses arising during the period	$ (99)	$ (15)	$ (683)	$ (127)
Tax effect related to the unrealized loss during the periods	25	4	176	33
Change in other comprehensive loss	$ (74)	$ (11)	$ (507)	$ (94)

EARNINGS PER SHARE ("EPS") (Det

EARNINGS PER SHARE ("EPS") (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Basic earnings per common share
Net income available to the Company	$ 10,738	$ 10,757	$ 20,829	$ 20,186
Less: Dividend on series B preferred stock	(7)	(7)	(14)	(14)
Net income available to common shareholders	$ 10,731	$ 10,750	$ 20,815	$ 20,172
Basic weighted-average common shares outstanding (in shares)	11,914,454	11,891,558	11,909,892	11,881,902
Basic earnings per common share (in dollars per share)	$ 0.90	$ 0.90	$ 1.75	$ 1.70
Diluted earnings per common share
Net income available to common shares	$ 10,731	$ 10,750	$ 20,815	$ 20,172
Add: Dividend on series B preferred stock	7	7	14	14
Net income available to diluted common shares	$ 10,738	$ 10,757	$ 20,829	$ 20,186
Basic weighted-average common shares outstanding (in shares)	11,914,454	11,891,558	11,909,892	11,881,902
Dilutive potential common shares (in shares)	270,798	220,135	272,894	228,367
Diluted weighted-average common shares outstanding (in shares)	12,185,252	12,111,693	12,182,786	12,110,269
Diluted earnings per common share (in dollars per share)	$ 0.88	$ 0.89	$ 1.71	$ 1.67

FAIR VALUE - Assets and Liabili

FAIR VALUE - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 10,903	$ 13,351
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	10,399	12,843
Collateralized mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities AFS	4	8
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
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]
Total	10,903	13,351
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	10,399	12,843
Level 2 | Collateralized mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities AFS	4	8
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
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	Jun. 30, 2022	Dec. 31, 2021
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Underlying collateral less cost to sell percentage	5%
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Underlying collateral less cost to sell percentage	10%
Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent impaired loans	$ 3,972	$ 4,087
OREO		1,654
Nonrecurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent impaired loans	0	0
OREO		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
Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent impaired loans	$ 3,972	4,087
OREO		$ 1,654

FAIR VALUE - Carrying Value and

FAIR VALUE - Carrying Value and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Financial Assets:
Investment securities HTM	$ 8,408	$ 10,025
Carrying Amount
Financial Assets:
Investment securities AFS	10,903	13,351
Investment securities HTM	9,738	9,918
Restricted stock	5,226	5,144
Loans, net	1,517,685	1,455,002
Financial Liabilities:
Time deposits	508,589	593,746
Borrowings	120,976	120,882
Fair Value
Financial Assets:
Investment securities AFS	10,903	13,351
Investment securities HTM	8,408	10,025
Restricted stock	5,226	5,144
Loans, net	1,482,195	1,440,398
Financial Liabilities:
Time deposits	511,448	597,791
Borrowings	117,656	117,636
Fair Value | Level 1
Financial Assets:
Investment securities AFS	0	0
Investment securities HTM	0	0
Restricted stock	0	0
Loans, net	0	0
Financial Liabilities:
Time deposits	0	0
Borrowings	0	0
Fair Value | Level 2
Financial Assets:
Investment securities AFS	10,903	13,351
Investment securities HTM	8,408	10,025
Restricted stock	0	0
Loans, net	1,477,214	1,430,686
Financial Liabilities:
Time deposits	511,448	597,791
Borrowings	117,656	117,636
Fair Value | Level 3
Financial Assets:
Investment securities AFS	0	0
Investment securities HTM	0	0
Restricted stock	5,226	5,144
Loans, net	4,981	9,712
Financial Liabilities:
Time deposits	0	0
Borrowings	$ 0	$ 0

LEASES - Narrative (Details)

LEASES - Narrative (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($) branch
Leases [Abstract]
Number of retail branches | branch	3
Remaining lease term except the land lease	10 years
Remaining lease term of land lease	83 years
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Other
Future minimum lease payments	$ 27,781
Operating lease, liability	$ 1,941
Weighted average remaining lease term	43 years 7 months 6 days
Weighted average discount rate	7.10%

LEASES - Assets and Liabilities

LEASES - Assets and Liabilities (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Leases [Abstract]
Lease right of use ("ROU") assets	$ 1,941
Lease liabilities	$ 1,941

LEASES - Future Undiscounted Ca

LEASES - Future Undiscounted Cash Flows on Operating Leases (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Leases [Abstract]
Remainder of 2022	$ 165
2023	332
2024	348
2025	352
2026	283
Thereafter	26,301
Total undiscounted lease payments	$ 27,781

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Jun. 27, 2022
Debt Instrument [Line Items]
Deposits	$ 1,606,306,000		$ 1,606,306,000		$ 1,768,410,000
Loans, net of unearned income	1,548,133,000	$ 1,519,091,000	1,548,133,000	$ 1,519,091,000	1,484,847,000
Service fees on deposit accounts	1,313,000	$ 1,212,000	2,629,000	$ 2,824,000
Cannabis related loan
Debt Instrument [Line Items]
Loans, net of unearned income	4,000,000		4,000,000		5,400,000
Interest income			59,000		336,000
Cannabis Customers
Debt Instrument [Line Items]
Deposits	275,800,000		$ 275,800,000		$ 375,200,000
Product concentration risk | Deposits | Cannabis Customers
Debt Instrument [Line Items]
Concentration risk, percentage			17.10%		21.20%
Product concentration risk | Medical use cannabis customers, deposit balances
Debt Instrument [Line Items]
Service fees on deposit accounts			$ 2,300,000		$ 5,100,000
Customer concentration risk | Medical use cannabis customers, deposit balances | Two customers
Debt Instrument [Line Items]
Concentration risk, percentage			42.20%		19.30%
Line of credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	50,000,000		$ 50,000,000			$ 10,000,000
Line of credit, outstanding	0		0
Commitments to extend credit
Debt Instrument [Line Items]
Off-balance sheet commitments	140,200,000		140,200,000		$ 117,700,000
Standby letters of credit
Debt Instrument [Line Items]
Off-balance sheet commitments	$ 1,500,000		$ 1,500,000		$ 1,500,000

REGULATORY MATTERS - (Details)

REGULATORY MATTERS - (Details) $ in Thousands	Jun. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Parke Bancorp, Inc.
Total risk-based capital
Total risk-based capital, Actual, Amount		$ 290,965
Total risk-based capital, For Capital Adequacy Purposes, Amount		$ 103,151
Total Risk Based Capital and Tier 1 Capital (to Risk Weighted Assets)
Total risk-based capital, Actual, Ratio		0.2257
Total risk-based capital, For Capital Adequacy Purposes, Ratio		0.0800
Tier 1 Capital, Actual, Ratio		0.1904
Tier 1 Capital, For Capital Adequacy Purposes, Ratio		0.0600
Tier 1 risk-based capital
Tier 1 risk-based capital, Actual, Amount		$ 245,519
Tier 1 risk-based capital, For Capital Adequacy Purposes, Amount		77,363
Tier 1 leverage (Amount)
Tier 1 leverage, Actual, Amount	$ 262,782	245,519
Tier 1 leverage, For Capital Adequacy Purposes, Amount	$ 181,762	$ 85,494
Tier 1 leverage (Ratio)
Tier 1 leverage, Actual, Ratio	0.1301	0.1149
Tier 1 leverage, For Capital Adequacy Purposes, Ratio	0.0900	0.0400
Tier 1 common equity
Tier 1 common equity, Actual, Amount		$ 231,671
Tier 1 common equity, Actual, Ratio		0.1797
Tier 1 common equity, For Capital Adequacy Purpose, Amount		$ 58,023
Tier 1 common equity, For Capital Adequacy Purpose, Ratio		4.50%
Parke Bank
Tier 1 leverage (Amount)
Tier 1 leverage, Actual, Amount	$ 291,270	$ 273,884
Tier 1 leverage, For Capital Adequacy Purposes, Amount	$ 181,726	$ 181,640
Tier 1 leverage (Ratio)
Tier 1 leverage, Actual, Ratio	0.1443	0.1282
Tier 1 leverage, For Capital Adequacy Purposes, Ratio	0.0900	0.0850