Parke Bancorp (PKBK) 10-Q 8 Nov 23 2023 Q3 Quarterly report Financial data

COVER

COVER - shares	9 Months Ended
	Sep. 30, 2023	Nov. 06, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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)		11,946,671
Entity Central Index Key	0001315399
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets
Cash and due from banks	$ 10,669	$ 27,165
Interest bearing deposits with banks	116,071	154,985
Cash and cash equivalents	126,740	182,150
Investment securities available for sale, at fair value	7,271	9,366
Investment securities held to maturity (fair value of $7,285 at September 30, 2023 and $7,805 at December 31, 2022)	9,319	9,378
Total investment securities	16,590	18,744
Loans, net of unearned income	1,800,023	1,751,459
Less: Allowance for credit losses	(32,319)	(31,845)
Net loans	1,767,704	1,719,614
Accrued interest receivable	8,267	8,768
Premises and equipment, net	5,665	5,958
Restricted stock	7,025	5,439
Bank owned life insurance (BOLI)	28,587	28,144
Deferred tax asset	9,940	9,184
Other real estate owned (OREO)	1,550	1,550
Other	11,604	5,364
Total assets	1,983,672	1,984,915
Deposits
Noninterest-bearing deposits	231,116	352,546
Interest-bearing deposits	1,301,865	1,223,435
Total deposits	1,532,981	1,575,981
FHLBNY borrowings	111,150	83,150
Subordinated debentures	43,063	42,921
Accrued interest payable	3,843	2,664
Other	14,656	14,165
Total liabilities	1,705,693	1,718,881
Shareholders' Equity
Preferred stock, 1,000,000 shares authorized, $1,000 liquidation value Series B non-cumulative convertible; 445 shares outstanding at September 30, 2023 and December 31, 2022	445	445
Common stock, $0.10 par value; authorized 15,000,000 shares; Issued: 12,231,193 shares and 12,225,097 shares at September 30, 2023 and December 31, 2022, respectively	1,223	1,223
Additional paid-in capital	136,547	136,201
Retained earnings	143,422	131,706
Accumulated other comprehensive loss	(643)	(526)
Treasury stock, 284,522 shares at September 30, 2023 and December 31, 2022, at cost	(3,015)	(3,015)
Total shareholders’ equity	277,979	266,034
Total liabilities and shareholders' equity	$ 1,983,672	$ 1,984,915

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Investment securities held to maturity, fair value	$ 7,285	$ 7,805
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)	12,231,193	12,225,097
Treasury stock, shares (in shares)	284,522	284,522

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Interest income:
Interest and fees on loans	$ 27,294	$ 20,854	$ 77,602	$ 59,511
Interest and dividends on investments	308	194	745	565
Interest on deposits with banks	1,512	1,290	4,059	2,404
Total interest income	29,114	22,338	82,406	62,480
Interest expense:
Interest on deposits	11,385	2,284	28,046	5,893
Interest on borrowings	2,046	758	5,661	2,176
Total interest expense	13,431	3,042	33,707	8,069
Net interest income	15,683	19,296	48,699	54,411
Provision for (recovery of) credit losses	300	600	(1,600)	950
Net interest income after provision for (recovery of) credit losses	15,383	18,696	50,299	53,461
Non-interest income
Service fees on deposit accounts	1,003	1,133	3,149	3,762
Gain on sale of SBA loans	0	76	0	98
Other loan fees	192	422	611	1,138
Bank owned life insurance income	153	144	443	424
Net gain on sale and valuation adjustment of OREO	38	0	38	328
Other	449	253	972	827
Total non-interest income	1,835	2,028	5,213	6,577
Non-interest expense
Compensation and benefits	2,834	2,819	9,414	7,964
Professional services	659	578	1,746	1,670
Occupancy and equipment	649	621	1,938	1,891
Data processing	368	348	1,037	985
FDIC insurance and other assessments	388	265	960	811
OREO expense	240	314	610	404
Other operating expense	10,711	1,347	13,276	3,957
Total non-interest expense	15,849	6,292	28,981	17,682
Income before income tax expense	1,369	14,432	26,531	42,356
Income tax expense	340	3,892	6,242	10,987
Net income attributable to Company	1,029	10,540	20,289	31,369
Less: Preferred stock dividend	(7)	(7)	(20)	(20)
Net income available to common shareholders	$ 1,022	$ 10,533	$ 20,269	$ 31,349
Earnings per common share
Basic (in dollars per share)	$ 0.09	$ 0.88	$ 1.70	$ 2.63
Diluted (in dollars per share)	$ 0.08	$ 0.87	$ 1.67	$ 2.58
Weighted average common shares outstanding
Basic (in shares)	11,945,844	11,919,472	11,945,144	11,913,085
Diluted (in shares)	12,131,825	12,170,144	12,137,208	12,178,572

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income attributable to the Company	$ 1,029	$ 10,540	$ 20,289	$ 31,369
Unrealized loss on investment securities	(179)	(478)	(157)	(1,161)
Tax impact on unrealized loss	46	123	40	299
Total unrealized loss on investment securities	(133)	(355)	(117)	(862)
Comprehensive income attributable to the Company	$ 896	$ 10,185	$ 20,172	$ 30,507

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands		Total	Cumulative Effect, Period of Adoption, Adjustment	Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive (Loss) Income	Treasury Stock
Beginning balance at Dec. 31, 2021		$ 232,361		$ 445	$ 1,218	$ 135,451	$ 98,017		$ 245	$ (3,015)
Beginning balance (in shares) at Dec. 31, 2021					12,182,081
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to the Company		31,369					31,369
Common stock options exercised (in shares)					25,016
Common stock options exercised		185			$ 3	182
Other comprehensive loss		(862)							(862)
Stock compensation expense		252				252
Dividend on preferred stock	[1]	(20)					(20)
Dividend on common stock	[2]	(5,957)					(5,957)
Ending balance at Sep. 30, 2022		257,328		445	$ 1,221	135,885	123,409		(617)	(3,015)
Ending balance (in shares) at Sep. 30, 2022					12,207,097
Beginning balance at Jun. 30, 2022		249,117		445	$ 1,220	135,709	115,020		(262)	(3,015)
Beginning balance (in shares) at Jun. 30, 2022					12,199,483
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to the Company		10,540					10,540
Common stock options exercised (in shares)					7,614
Common stock options exercised		60			$ 1	59
Other comprehensive loss		(355)							(355)
Stock compensation expense		117				117
Dividend on preferred stock	[1]	(7)					(7)
Dividend on common stock	[2]	(2,144)					(2,144)
Ending balance at Sep. 30, 2022		257,328		445	$ 1,221	135,885	123,409		(617)	(3,015)
Ending balance (in shares) at Sep. 30, 2022					12,207,097
Beginning balance at Dec. 31, 2022		266,034	$ (2,102)	445	$ 1,223	136,201	131,706	$ (2,102)	(526)	(3,015)
Beginning balance (in shares) at Dec. 31, 2022					12,225,097
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to the Company		20,289					20,289
Common stock options exercised (in shares)					6,096
Common stock options exercised		33				33
Other comprehensive loss		(117)							(117)
Stock compensation expense		313				313
Dividend on preferred stock	[3]	(20)					(20)
Dividend on common stock	[4]	(6,451)					(6,451)
Ending balance at Sep. 30, 2023		$ 277,979		445	$ 1,223	136,547	143,422		(643)	(3,015)
Ending balance (in shares) at Sep. 30, 2023					12,231,193
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]		Accounting Standards Update 2016-13
Beginning balance at Jun. 30, 2023		$ 279,140		445	$ 1,223	136,447	144,550		(510)	(3,015)
Beginning balance (in shares) at Jun. 30, 2023					12,231,193
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to the Company		1,029					1,029
Other comprehensive loss		(133)							(133)
Stock compensation expense		100				100
Dividend on preferred stock	[3]	(7)					(7)
Dividend on common stock	[4]	(2,150)					(2,150)
Ending balance at Sep. 30, 2023		$ 277,979		$ 445	$ 1,223	$ 136,547	$ 143,422		$ (643)	$ (3,015)
Ending balance (in shares) at Sep. 30, 2023					12,231,193
[1]Dividends per share of $15.00 and $45.00, respectively, were declared on series B preferred stock for the three and nine months ended September 30, 2022.[2]Dividends per share of $0.18 and $0.50, respectively, were declared on common stock outstanding for the three and nine months ended September 30, 2022.[3]Dividends per share of $15.00 and $45.00, respectively, were declared on series B preferred stock for the three and nine months ended September 30, 2023.[4]Dividends per share of $0.18 and $0.54, respectively, were declared on common stock outstanding for the three and nine months ended September 30, 2023.

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Common Stock
Common stock, dividends, declared (in dollars per share)	$ 0.18	$ 0.18	$ 0.54	$ 0.50
Series B Preferred Stock
Preferred stock, dividends declared (in dollars per share)	$ 15	$ 15	$ 45	$ 45

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash Flows from Operating Activities:
Net income attributable to the Company	$ 20,289	$ 31,369
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	319	487
(Recovery of) provision for credit losses	(1,600)	950
Increase in value of bank owned life insurance	(443)	(424)
Gain on sale of SBA loans	0	(98)
SBA loans originated for sale	0	(1,723)
Proceeds from sale of SBA loans originated for sale	0	1,821
Net gain on sale of OREO and valuation adjustments	(38)	(328)
Net accretion of purchase premiums and discounts on securities	(28)	(4)
Stock based compensation	313	252
Net changes in:
(Increase) decrease in accrued interest receivable and other assets	(5,738)	226
Increase in accrued interest payable and other accrued liabilities	910	1,769
Net cash provided by operating activities	13,984	34,297
Cash Flows from Investing Activities:
Repayments and maturities of investment securities available for sale	1,919	2,367
Repayments and maturities of investment securities held to maturity	105	380
Net increase in loans	(48,671)	(196,324)
Sales (purchases) of bank premises and equipment	116
Sales (purchases) of bank premises and equipment		(88)
Proceeds from sale of OREO, net	161	1,887
Redemptions of restricted stock	6,480	237
Purchases of restricted stock	(8,066)	(82)
Net cash used in investing activities	(47,956)	(191,623)
Cash Flows from Financing Activities:
Cash dividends	(6,471)	(7,887)
Proceeds from exercise of stock options	33	185
Increase in FHLBNY long-term borrowings	20,000	0
Net increase (decrease) in FHLBNY short-term borrowings		(5,000)
Net increase (decrease) in FHLBNY short-term borrowings	8,000
Net decrease in noninterest-bearing deposits	(121,430)	(159,957)
Net increase (decrease) in interest-bearing deposits	78,430	(73,224)
Net cash used in financing activities	(21,438)	(245,883)
Net decrease in cash and cash equivalents	(55,410)	(403,209)
Cash and Cash Equivalents, January 1,	182,150	596,553
Cash and Cash Equivalents, September 30,	126,740	193,344
Supplemental Disclosure of Cash Flow Information:
Interest paid	32,528	8,590
Income taxes paid	13,293	9,638
Non-cash Investing and Financing Items
Loans transferred to OREO	123	2,008
Accrued dividends payable	$ 2,157	$ 2,151

ORGANIZATION

ORGANIZATION	9 Months Ended
	Sep. 30, 2023
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. The Bank also has a loan office located at 1817 East Venango Street, Philadelphia, Pennsylvania.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2023
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). 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, 2022. The accompanying interim financial statements for the three and nine months ended September 30, 2023 and 2022 are unaudited. The balance sheet as of December 31, 2022, was derived from the audited financial statements. In the opinion of management, these financial statements include all normal and recurring adjustments necessary for a fair statement of the results for such interim periods. Results of operations for the three and nine months ended September 30, 2023 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 credit losses, the valuation of deferred income taxes, and the carrying value of other real estate owned ("OREO"). Allowance for Credit Losses on Loans and Leases The allowance for credit losses on loans and leases is a valuation account that is deducted from the loan or lease’s amortized cost basis to present the net amount expected to be collected on the loans and leases. Loans and leases deemed to be uncollectible are charged against the allowance for credit losses on loans and leases, and subsequent recoveries, if any, are credited to the allowance for credit losses on loans and leases. Changes to the allowance for credit losses on loans and leases are recorded through the provision for credit losses. The allowance for credit losses on loans and leases is maintained at a level considered appropriate to absorb expected credit losses over the expected life of the portfolio as of the reporting date. The allowance for credit losses on loans and leases is measured on a collective (pool) basis when similar risk characteristics exist. Parke's loan portfolio segments include commercial and industrial, construction, commercial - owner occupied, commercial - non-owner occupied, residential - 1 to 4 family, residential - 1 to 4 family investment, residential - multifamily, and consumer. Loans that do not share similar risk characteristics are evaluated on an individual basis. Loans evaluated individually are not also included in the collective evaluation. For individually assessed loans, see related details in the Individually Assessed Loans section below. The allowance for credit losses on collectively assessed loans and leases is measured over the expected life of the loan or lease using a vintage loss rate approach, which will then be supplemented with qualitative factors. The vintage loss rate approach creates pools of loans (made up of individual loans) based on the loan segmentation. The loan pools are aggregated by origination year. Charge-offs, net of recoveries, are allocated by the year of charge-off to each loan pool. An average life is prescribed to a pool of loans that were originated in a particular year. The actual charge-offs as a percent of total loans are calculated for each historical year, and projected for future years for each year within the average life time horizon. The sum of the actual charge-offs and projected charge-offs are divided by the average amortized origination amount for each respective year. Those charge-off percentages are added together to obtain an aggregated vintage loss percentage which is then multiplied by the outstanding loan balances to obtain a reserve requirement. Parke runs the Current Expected Credit Loss ("CECL") impairment models on a quarterly basis and qualitatively adjusts model results for risk factors that are not considered within the model but which are relevant in assessing the expected credit losses within the loan and lease pools. Management generally considers the following qualitative factors: •Volume and severity of past-due loans, non-accrual loans and classified loans; •Lending policies and procedures, including underwriting standards and historically based loss/collection, charge-off and recovery practices; • National and economic conditions that may have an impact on credit quality; •Nature and volume of the portfolio; •Existence and effect of any credit concentrations and changes in the level of such concentrations; •The value of the underlying collateral for loans that are not collateral dependent; •Changes in the quality of the loan review system; and •Experience, ability and depth of lending management and staff Parke has elected to not estimate an allowance for credit losses on accrued interest receivable, as it already has a policy in place to reverse or write-off accrued interest, through interest income, in a timely manner. Allowance for Credit Losses on Lending-Related Commitments Parke estimates expected credit losses over the contractual period in which it is exposed to credit risk on contractual obligations to extend credit, unless the obligation is unconditionally cancellable by the Company. The allowance for credit losses on lending-related commitments is recorded in other liabilities in the consolidated balance sheet and is recorded as a provision for credit losses in the consolidated income statement. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over their estimated lives. The lifetime loss rates for off-balance sheet credit exposures are calculated in the same manner as on-balance sheet credit exposures, using the same model and economic forecasts, adjusted for the estimated likelihood that funding will occur. Individually Assessed Loans and Leases ASC 326 provides that a loan or lease is measured individually if it does not share similar risk characteristics with other financial assets. For Parke, loans and leases which are identified to be individually assessed under CECL typically are those that are on non-accrual at the reporting date, and include collateral dependent loans. Collateral Dependent Loans Parke considers a loan to be collateral dependent when foreclosure of the underlying collateral is probable. Parke has also elected to apply the practical expedient to measure expected credit losses of a collateral dependent asset using the fair value of the collateral, less any estimated costs to sell, when foreclosure is not probable but repayment of the loan is expected to be provided substantially through the operation or sale of the collateral, and the borrower is experiencing financial difficulty. Allowance for Credit Losses on Held to Maturity Securities We follow Accounting Standards Codification (ASC) 326-20, Financial Instruments - Credit Loss - Measured at Amortized Cost, to measure expected credit losses on held-to-maturity debt securities on a collective basis by security investment grade. The estimate of expected credit losses considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. The Company classifies the held-to-maturity debt securities into the following major security types: residential mortgage backed, and state and political subdivisions. These securities are highly rated with a history of no credit losses, and are assigned ratings based on the most recent data from ratings agencies depending on the availability of data for the security. Credit ratings of held-to-maturity debt securities, which are a significant input in calculating the expected credit loss, are reviewed on a quarterly basis. Based on the credit ratings of our held-to-maturity securities and our historical experience including no losses, we have determined that an allowance for credit loss on the held-to-maturity portfolio is not required Accrued interest receivable on held-to-maturity debt securities is excluded from the estimate of credit losses and is included in Accrued interest receivable on the Consolidated Statements of Financial Condition. Allowance for Credit Losses on Available for Sale Securities We follow ASC 326-30, Financial Instruments - Credit Loss - Available-for-Sale Debt Securities, which provides guidance related to the recognition of and expanded disclosure requirements for expected credit losses on available-for-sale debt securities. For available-for-sale debt securities in an unrealized loss position, the Company first evaluates whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either criteria is met, the security's amortized cost basis is reduced to fair value and recognized as a reduction to non-interest income in the Consolidated Statements of Income. For debt securities available-for-sale which the Company does not intend to sell, or it is not likely the security would be required to be sold before recovery, we evaluate whether a decline in fair value has resulted from credit losses or other adverse factors, such as a change in the security's credit rating. In assessing whether a credit loss exists, the Company compares the present value of cash flows expected to be collected from the security with the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance is recorded, limited to the fair value of the security. Recently Issued Accounting Pronouncements: In March 2020, the FASB issued ASU No. 2020.-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments provide optional guidance to entities for a limited period of time to ease the transition in accounting for and recognizing the effects of reference rate reform on financial reporting. Under the guidance, modifications of contracts due to reference rate reform will not require contract remeasurement or reassessment of a previous accounting determination. For hedge accounting, modification of critical terms of the hedge due to changes in reference rate reform will not affect hedge accounting or de-designate the hedging relationship. The guidance also provides specific expedients for fair value hedges, cash flow hedges, and excluded components. Further, the guidance provides a one-time election to sell or transfer held to maturity debt securities that are affected by the reference rate change. The guidance is effective upon issuance through December 31, 2022. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848, which extends the sunset (or expiration) date of Accounting Standards Codification (ASC) Topic 848 to December 31, 2024. This gives reporting entities two additional years to apply the accounting relief provided under ASC Topic 848 for matters related to reference rate reform. ASU 2022-06 is effective for all reporting entities immediately upon issuance and must be applied on a prospective basis. The Company does not expect the application of this guidance to have a material impact on the Consolidated Financial Statements. Accounting Pronouncements Adopted in 2023 In 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 a 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. The ASU was amended in some aspects by subsequent Accounting Standards Updates. This guidance became effective on January 1, 2023 for the Company. Results and disclosures for reporting periods beginning after January 1, 2023 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. The Company adopted this guidance, and subsequent related updates, using the modified retrospective approach for all financial assets measured at amortized cost, including loans and held-to-maturity debt securities, and unfunded commitments. On January 1, 2023, the Company recorded a cumulative effect decrease to retained earnings of $2.1 million, net of tax, of which $1.9 million related to loans, and $960.0 thousand related to unfunded commitments. There were no such charges for securities held by the Company at the date of adoption. The following table illustrates the impact of adopting ASC 326: (Amounts in thousands) January 1, 2023 Assets Pre-adoption Adoption Impact As Reported ACL on loans Commercial and Industrial $ 390 $ 168 $ 558 Construction 2,581 1,899 4,480 Commercial - Owner Occupied 2,298 (171) 2,127 Commercial - Non-owner Occupied 9,709 (951) 8,758 Residential - 1 to 4 Family 6,076 1,782 7,858 Residential - 1 to 4 Family Investment 9,381 (794) 8,587 Residential - Multifamily 1,347 (128) 1,219 Consumer 63 53 116 Total ACL on loans 31,845 1,858 33,703 Deferred Tax Assets 9,184 716 9,900 Liabilities ACL for unfunded commitments — 960 960 Equity Retained Earnings $ 131,706 $ (2,102) $ 129,604

INVESTMENT SECURITIES

INVESTMENT SECURITIES	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	INVESTMENT SECURITIES The following is a summary of the Company's investments in available for sale and held to maturity securities as of September 30, 2023 and December 31, 2022: As of September 30, 2023 Amortized Gross Gross Fair value (Dollars in thousands) Available for sale: Residential mortgage-backed securities $ 8,137 $ — $ 866 $ 7,271 Total available for sale $ 8,137 $ — $ 866 $ 7,271 Held to maturity: Residential mortgage-backed securities $ 5,449 $ — $ 1,388 $ 4,061 States and political subdivisions 3,870 — 646 3,224 Total held to maturity $ 9,319 $ — $ 2,034 $ 7,285 As of December 31, 2022 Amortized Gross Gross Fair value (Dollars in thousands) Available for sale: Corporate debt obligations $ 500 $ — $ — $ 500 Residential mortgage-backed securities 9,575 3 712 8,866 Total available for sale $ 10,075 $ 3 $ 712 $ 9,366 Held to maturity: Residential mortgage-backed securities $ 5,556 $ — $ 1,096 $ 4,460 States and political subdivisions 3,822 56 533 3,345 Total held to maturity $ 9,378 $ 56 $ 1,629 $ 7,805 The amortized cost and fair value of debt securities classified as available for sale and held to maturity, by contractual maturity as of September 30, 2023 are as follows: Amortized Fair (Dollars in thousands) Available for sale: Due within one year $ — $ — Due after one year through five years 2,809 2,566 Due after five years through ten years 1,541 1,396 Due after ten years 3,787 3,309 Total available for sale $ 8,137 $ 7,271 Held to maturity: Due within one year $ — $ — Due after one year through five years 1,395 1,385 Due after five years through ten years — — Due after ten years 7,924 5,900 Total held to maturity $ 9,319 $ 7,285 Expected maturities may differ from contractual maturities because the issuers of certain debt securities do have the right to call or prepay their obligations without any penalty. The Company did not sell any securities during the three and nine months ended September 30, 2023. The following tables show the gross unrealized losses and fair value of the Company's investments for which an allowance for credit losses has not been recorded, which are aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2023 and December 31, 2022: As of September 30, 2023 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 $ 230 $ 4 $ 7,041 $ 862 $ 7,271 $ 866 Total available for sale $ 230 $ 4 $ 7,041 $ 862 $ 7,271 $ 866 Held to maturity: Residential mortgage-backed securities $ — $ — $ 4,061 $ 1,388 $ 4,061 $ 1,388 States and political subdivisions — — 3,224 646 3,224 646 Total held to maturity $ — $ — $ 7,285 $ 2,034 $ 7,285 $ 2,034 As of December 31, 2022 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 $ 7,579 $ 576 $ 1,043 $ 136 $ 8,622 $ 712 Total available for sale $ 7,579 $ 576 $ 1,043 $ 136 $ 8,622 $ 712 Held to maturity: Residential mortgage-backed securities $ — $ — $ 4,460 $ 1,096 $ 4,460 $ 1,096 States and political subdivisions — — 1,943 533 1,943 533 Total held to maturity $ — $ — $ 6,403 $ 1,629 $ 6,403 $ 1,629 The Company’s unrealized loss for the debt securities is comprised of 16 securities in the less than 12 months loss position and 19 securities in the 12 months or greater loss position at September 30, 2023. 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 credit losses at September 30, 2023.

LOANS AND ALLOWANCE FOR CREDIT

LOANS AND ALLOWANCE FOR CREDIT LOSSES ON LOANS	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
LOANS AND ALLOWANCE FOR CREDIT LOSSES ON LOANS	LOANS AND ALLOWANCE FOR CREDIT LOSSES ON LOANSAt September 30, 2023 and December 31, 2022, the Company had $1.80 billion and $1.75 billion, respectively, in loans receivable outstanding. Outstanding balances include $2.2 million and $1.9 million at September 30, 2023 and December 31, 2022, respectively, for net deferred loan costs, and unamortized discounts. The portfolio segments of loans receivable at September 30, 2023 and December 31, 2022, consist of the following: September 30, 2023 December 31, 2022 (Dollars in thousands) Commercial and Industrial $ 31,968 $ 32,383 Construction 150,823 192,357 Real Estate Mortgage: Commercial – Owner Occupied 143,237 125,950 Commercial – Non-owner Occupied 384,222 377,452 Residential – 1 to 4 Family 461,070 444,820 Residential – 1 to 4 Family Investment 500,076 476,210 Residential – Multifamily 122,702 95,556 Consumer 5,925 6,731 Total Loan receivable 1,800,023 1,751,459 Allowance for credit losses on loans (32,319) (31,845) Total loan receivable, net of allowance for credit losses on loans $ 1,767,704 $ 1,719,614 An age analysis of past due loans by class at September 30, 2023 and December 31, 2022 is as follows: September 30, 2023 30-59 60-89 Greater Total Past Current Total (Dollars in Thousands) Commercial and Industrial $ — $ — $ 468 $ 468 $ 31,500 $ 31,968 Construction — — 1,091 1,091 149,732 150,823 Real Estate Mortgage: Commercial – Owner Occupied — — 1,117 1,117 142,120 143,237 Commercial – Non-owner Occupied — 2,678 17,062 19,740 364,482 384,222 Residential – 1 to 4 Family 186 1,290 — 1,476 459,594 461,070 Residential – 1 to 4 Family Investment — 349 — 349 499,727 500,076 Residential – Multifamily — — — — 122,702 122,702 Consumer 16 — — 16 5,909 5,925 Total Loans $ 202 $ 4,317 $ 19,738 $ 24,257 $ 1,775,766 $ 1,800,023 December 31, 2022 30-59 60-89 Greater Total Past Current Total (Dollars in thousands) Commercial and Industrial $ — $ 89 $ — $ 89 $ 32,294 $ 32,383 Construction — — 1,091 1,091 191,266 192,357 Real Estate Mortgage: Commercial – Owner Occupied — — 400 400 125,550 125,950 Commercial – Non-owner Occupied — — 14,553 14,553 362,899 377,452 Residential – 1 to 4 Family 58 — 162 220 444,600 444,820 Residential – 1 to 4 Family Investment — — — — 476,210 476,210 Residential – Multifamily — — — — 95,556 95,556 Consumer 78 — 70 148 6,583 6,731 Total Loans $ 136 $ 89 $ 16,276 $ 16,501 $ 1,734,958 $ 1,751,459 The following table provides the amortized cost of loans on nonaccrual status: September 30, 2023 (amounts in thousands) Nonaccrual with no ACL Nonaccrual with ACL Total Nonaccrual Loans Past Due Over 90 Days Still Accruing Total Nonperforming Commercial and Industrial $ 468 $ — $ 468 $ — $ 468 Construction 1,091 — 1,091 — 1,091 Commercial - Owner Occupied 717 400 1,117 — 1,117 Commercial - Non-owner Occupied 13,370 3,692 17,062 — 17,062 Residential - 1 to 4 Family — — — — — Residential - 1 to 4 Family Investment — — — — — Residential - Multifamily — — — — — Consumer — — — — — Total $ 15,646 $ 4,092 $ 19,738 $ — $ 19,738 December 31, 2022 (amounts in thousands) Total Nonaccrual Loans Past Due Over 90 Days Still Accruing Commercial and Industrial $ — $ — Construction 1,091 — Commercial - Owner Occupied 587 — Commercial - Non-owner Occupied 19,568 — Residential - 1 to 4 Family 417 — Residential - 1 to 4 Family Investment — — Residential - Multifamily — — Consumer 70 — Total $ 21,733 $ — Allowance For Credit Losses (ACL) We maintain the ACL at a level that we believe to be appropriate to absorb estimated credit losses in the loan portfolios as of the balance sheet date. We established our allowance in accordance with guidance provided in Accounting Standard Codification ("ASC") - Financial Instruments - Credit Losses ("ASC 326"). The allowance for credit losses represents management’s estimate of expected losses inherent in the Company’s lending activities excluding loans accounted for under fair value. The allowance for credit losses is maintained through charges to the provision for credit losses in the Consolidated Statements of Income as expected losses are estimated. 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 credit losses includes a general component and an asset-specific component for collateral-dependent loans. To determine the asset-specific component of the allowance, the loans are evaluated individually based on the fair value of the underlying collateral. The Company generally measures the asset-specific allowance as the difference between the net realizable value of loan collateral 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 qualitative allowance. The historical valuation utilizes a vintage loss rate approach utilizing a third party software model. The vintage loss rate approach creates pools of loans based on the segments defined by management, and consists of commercial and industrial, construction, commercial - owner occupied, commercial - non-owner occupied, residential - 1 to 4 family, residential - 1 to 4 family investment, residential - multifamily, and consumer. The loan pools are aggregated by origination year. Charge-offs, net of recoveries, are allocated by the year of charge-off to each loan pool. An average life is prescribed to a pool of loans that were originated in a particular year. The actual charge-offs as a percent of total loans are calculated for each historical year, and projected for future years for each year within the average life time horizon. The sum of the actual charge-offs and projected charge-offs are divided by the average amortized origination amount for each respective year. Those charge-off percentages are added together to obtain an aggregated vintage loss percentage which is then multiplied by the outstanding loan balances to obtain a reserve requirement. The qualitative allowance component 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 Company has elected to exclude accrued interest receivable from the measurement of the ACL. When a loan is placed on non-accrual status, any outstanding accrued interest is generally reversed against interest income. The process of determining the level of the allowance for credit losses requires a high degree of estimate and judgment. It is reasonably possible that actual outcomes may differ from our estimates. Allowance for Credit Losses on Off-Balance Sheet Credit Exposures The Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. The allowance for credit losses on off-balance sheet credit exposures is adjusted through the provision for credit loss expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. At September 30, 2023, the allowance for credit losses on off-balance sheet credit exposures was $760.0 thousand. The following tables present the information regarding the allowance for credit losses and associated loan data by portfolio segment under the CECL model in accordance with ASC 326: Real Estate Mortgage Commercial and Industrial Construction Commercial Owner Occupied Commercial Non-owner Occupied Residential 1 to 4 Family Residential 1 to 4 Family Investment Residential Multifamily Consumer Total Allowance for credit losses (Dollars in thousands) Three months ended September 30, 2023 June 30, 2023 $ 590 $ 3,978 $ 1,869 $ 8,798 $ 7,710 $ 7,740 $ 1,232 $ 98 $ 32,015 Charge-offs — — — — — — — — — Recoveries 4 — — — — — — — 4 Provisions (benefits) (79) (833) (153) (276) 1,164 489 25 (37) 300 Ending Balance at September 30, 2023 $ 515 $ 3,145 $ 1,716 $ 8,522 $ 8,874 $ 8,229 $ 1,257 $ 61 $ 32,319 Allowance for credit losses Nine months ended September 30, 2023 December 31, 2022 $ 390 $ 2,581 $ 2,298 $ 9,709 $ 6,076 $ 9,381 $ 1,347 $ 63 $ 31,845 Impact of adoption ASC 326 168 1,899 (171) (951) 1,782 (794) (128) 53 1,858 Charge-offs — — — — — — — — — Recoveries 14 — 2 — — — — — 16 Provisions (benefits) (57) (1,335) (413) (236) 1,016 (358) 38 (55) (1,400) Ending Balance at September 30, 2023 $ 515 $ 3,145 $ 1,716 $ 8,522 $ 8,874 $ 8,229 $ 1,257 $ 61 $ 32,319 During the quarter, the increase to the Residential 1 to 4 Family and Residential 1 to 4 Family Investment portfolio's was due to an increase in the portfolio balances as well as an increase in the qualitative factor for the Residential 1 to 4 Family Residential portfolio driven by an increase in delinquent loan balances. The credit provision during the quarter to the Construction segment was mainly due to a decrease in the portfolio balance. For the nine months ended September 30, 2023, the increase to the provision for the Residential 1 to 4 Family portfolio was mainly driven by an increase in the qualitative factor due to an increase in delinquent loan balances. The credit provision to the Construction and Residential 1 to 4 Family Investment segments was largely driven by declines or slowdowns to growth within the portfolio that lowered loan exposure and also caused changes to the qualitative factors related to loan volume within the portfolio segments, partially offset by an increase in the balance of the Residential 1 - 4 Family Investment segment. The credit provision for the Commercial Owner Occupied portfolio is attributed to a decrease in the historical vintage reserve rate. The following tables present the information regarding the allowance for loan losses and associated loan data by portfolio segment under the incurred loss model: Real Estate Mortgage Commercial and Industrial Construction Commercial Owner Occupied Commercial Non-owner Occupied Residential 1 to 4 Family Residential 1 to 4 Family Investment Residential Multifamily Consumer Total Allowance for loan losses (Dollars in thousands) Three months ended September 30, 2022 June 30, 2022 $ 551 $ 2,202 $ 2,742 $ 7,549 $ 7,291 $ 8,920 $ 1,098 $ 95 $ 30,448 Charge-offs — — — — (66) — — — (66) Recoveries 3 — 4 — — — — — 7 Provisions (benefits) (137) 653 (140) 368 (424) 203 92 (15) 600 Ending Balance at September 30, 2022 $ 417 $ 2,855 $ 2,606 $ 7,917 $ 6,801 $ 9,123 $ 1,190 $ 80 $ 30,989 Allowance for loan losses Nine months ended September 30, 2022 December 31, 2021 $ 417 $ 2,662 $ 2,997 $ 7,476 $ 7,045 $ 7,925 $ 1,215 $ 108 $ 29,845 Charge-offs — — — — (66) — — — (66) Recoveries 12 100 15 — 133 — — — 260 Provisions (benefits) (12) 93 (406) 441 (311) 1,198 (25) (28) 950 Ending Balance at September 30, 2022 $ 417 $ 2,855 $ 2,606 $ 7,917 $ 6,801 $ 9,123 $ 1,190 $ 80 $ 30,989 Allowance for loan losses Individually evaluated for impairment $ — $ — $ 4 $ 125 $ 20 $ — $ — $ — $ 149 Collectively evaluated for impairment 417 2,855 2,602 7,792 6,781 9,123 1,190 80 30,840 Ending Balance at September 30, 2022 $ 417 $ 2,855 $ 2,606 $ 7,917 $ 6,801 $ 9,123 $ 1,190 $ 80 $ 30,989 Loans Individually evaluated for impairment $ — $ 1,139 $ 1,177 $ 19,655 $ 420 $ — $ — $ 70 $ 22,461 Collectively evaluated for impairment 29,407 192,972 128,929 327,888 431,646 460,922 78,162 6,970 1,656,896 Ending Balance at September 30, 2022 $ 29,407 $ 194,111 $ 130,106 $ 347,543 $ 432,066 $ 460,922 $ 78,162 $ 7,040 $ 1,679,357 The increase in the allowance for loan loss balance for the nine months ended September 30, 2022 in the residential 1 to 4 family investment and commercial non-owner occupied portfolio segments was primarily attributable to loan growth. The decrease in the allowance for loan loss balance in the commercial owner occupied portfolio segment for the nine months ended September 30, 2022 was due to decreases in non-performing balances. Collateral-Dependent Loans The following table presents the collateral-dependent loans by portfolio segment and collateral type at September 30, 2023: (amounts in thousands) Real Estate Business Assets Other Commercial and Industrial $ 468 $ — $ — Construction 1,091 — — Commercial - Owner Occupied 1,117 — — Commercial - Non-owner Occupied 1,716 — — Residential - 1 to 4 Family — — — Residential - 1 to 4 Family Investment — — — Residential - Multifamily — — — Consumer — — — Total $ 4,392 $ — $ — 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. The following tables provide an analysis of loans by portfolio segment based on the credit quality indicators used to determine the allowance for credit losses, as of September 30, 2023 under the current expected credit loss model. (Dollars in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving Loans at Amortized Cost Basis As of September 30, 2023 2023 2022 2021 2020 Prior Total Commercial and Industrial Pass $ 4,435 $ 1,857 $ 109 $ 3,442 $ 7,550 $ 14,109 $ 31,502 OAEM — — — — — — — Substandard — 466 — — — — 466 Doubtful — — — — — — — $ 4,435 $ 2,323 $ 109 $ 3,442 $ 7,550 $ 14,109 $ 31,968 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — Construction Pass $ 324 $ 3,338 $ 4,500 $ 193 $ — $ 141,377 $ 149,732 OAEM — — — — — — — Substandard — — — — — 1,091 1,091 Doubtful — — — — — — — $ 324 $ 3,338 $ 4,500 $ 193 $ — $ 142,468 $ 150,823 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — Commercial – Owner Occupied Pass $ 19,546 $ 36,255 $ 21,678 $ 7,173 $ 55,090 $ 2,378 $ 142,120 OAEM — — — — — — — Substandard — — — — 1,117 — 1,117 Doubtful — — — — — — — $ 19,546 $ 36,255 $ 21,678 $ 7,173 $ 56,207 $ 2,378 $ 143,237 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — Commercial – Non-owner Occupied Pass $ 14,572 $ 99,540 $ 41,751 $ 34,116 $ 175,389 $ 1,179 $ 366,547 OAEM — — — — — — — Substandard — — — — 17,675 — 17,675 Doubtful — — — — — — — $ 14,572 $ 99,540 $ 41,751 $ 34,116 $ 193,064 $ 1,179 $ 384,222 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — Residential – 1 to 4 Family Performing $ 46,213 $ 118,758 $ 63,059 $ 33,701 $ 195,472 $ 3,867 $ 461,070 Nonperforming — — — — — — — $ 46,213 $ 118,758 $ 63,059 $ 33,701 $ 195,472 $ 3,867 $ 461,070 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — Residential – 1 to 4 Family Investment Performing $ 63,774 $ 141,343 $ 118,955 $ 51,438 $ 124,566 $ — $ 500,076 Nonperforming — — — — — — — $ 63,774 $ 141,343 $ 118,955 $ 51,438 $ 124,566 $ — $ 500,076 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — Residential – Multifamily Pass $ 497 $ 15,670 $ 43,669 $ 12,230 $ 50,636 $ — $ 122,702 OAEM — — — — — — $ — Substandard — — — — — — $ — Doubtful — — — — — — — $ 497 $ 15,670 $ 43,669 $ 12,230 $ 50,636 $ — $ 122,702 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — Consumer Performing $ — $ — $ — $ — $ 5,909 $ 16 $ 5,925 Nonperforming — — — — — — — $ — $ — $ — $ — $ 5,909 $ 16 $ 5,925 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — As of September 30, 2023, the Company was in the process of foreclosing on $2.8 million in loans, consisting of two commercial - owner occupied loans, and two commercial - non-owner occupied loans. An analysis of the credit risk profile by internally assigned grades under the incurred loss model as of December 31, 2022 is as follows: At December 31, 2022 Pass OAEM Substandard Doubtful Total (Dollars in thousands) Commercial and Industrial $ 32,383 $ — $ — $ — $ 32,383 Construction 191,266 — 1,091 — 192,357 Real Estate Mortgage: Commercial – Owner Occupied 122,523 3,027 400 — 125,950 Commercial – Non-owner Occupied 362,899 — 14,553 — 377,452 Residential – 1 to 4 Family 444,658 — 162 — 444,820 Residential – 1 to 4 Family Investment 476,210 — — — 476,210 Residential – Multifamily 95,556 — — — 95,556 Consumer 6,661 — 70 — 6,731 Total $ 1,732,156 $ 3,027 $ 16,276 $ — $ 1,751,459 Modifications to Borrowers Experiencing Financial Difficulty Occasionally, the Company modifies loans to borrowers in financial distress by providing term extensions, interest rate reductions, or other forbearance modifications. In some cases, Parke provides multiple types of concessions on the same loan. The following table shows the amortized cost basis at the end of the reporting period of the loans modified to borrowers experiencing financial difficulty, disaggregated by class of financing receivable and type of concession granted. Loan Modifications Made to Borrowers Experiencing Financial Difficulty September 30, 2023 (Dollars in thousands) Term Extension More-Than-Insignificant Payment Delay Interest Rate Reduction Other Total % of Total Loan Category Commercial – Non-owner Occupied $ — $ — $ — $ 15,346 $ 15,346 4.0 % Total $ — $ — $ — $ 15,346 $ 15,346 As of September 30, 2023, Parke had no commitments to lend additional amounts to the borrowers included in the previous table. The following table describes the financial effect of the modifications made to borrowers experiencing financial difficulty as of September 30, 2023: Other Commercial – Non-owner Occupied Forbearance agreement made on two loans to the same borrower whereby the Company will receive all principal and interest due by the original maturity date and where the Company will not foreclose as long as payments are made as per the terms of the agreement. Upon the Company's determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amount. There were no loans that had a payment default during the period and were modified in the 12 months before default to borrowers experiencing financial difficulty. The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table depicts the performance of loans that have been modified in the last 12 months (in thousands): September 30, 2023 Current 30-89 Days Past Due Greater than 90 Days Past Due Total Commercial – Non-owner Occupied $ 15,346 $ — $ — $ 15,346 Total $ 15,346 $ — $ — $ 15,346

EARNINGS PER SHARE ("EPS")

EARNINGS PER SHARE ("EPS")	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE ("EPS")	EARNINGS PER SHARE (“EPS”) The following tables set forth the calculation of basic and diluted EPS for the three and nine-month periods ended September 30, 2023 and 2022. Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 (Dollars in thousands except share and per share data) Basic earnings per common share Net income available to the Company $ 1,029 $ 10,540 $ 20,289 $ 31,369 Less: Dividend on series B preferred stock (7) (7) (20) (20) Net income available to common shareholders 1,022 10,533 20,269 31,349 Basic weighted-average common shares outstanding 11,945,844 11,919,472 11,945,144 11,913,085 Basic earnings per common share $ 0.09 $ 0.88 $ 1.70 $ 2.63 Diluted earnings per common share Net income available to common shares $ 1,022 $ 10,533 $ 20,269 $ 31,349 Add: Dividend on series B preferred stock 7 7 20 20 Net income available to diluted common shares 1,029 10,540 20,289 31,369 Basic weighted-average common shares outstanding 11,945,844 11,919,472 11,945,144 11,913,085 Dilutive potential common shares 185,981 250,672 192,064 265,487 Diluted weighted-average common shares outstanding 12,131,825 12,170,144 12,137,208 12,178,572 Diluted earnings per common share $ 0.08 $ 0.87 $ 1.67 $ 2.58

FAIR VALUE

FAIR VALUE	9 Months Ended
	Sep. 30, 2023
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. 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. Securities in Level 2 include mortgage-backed securities, and corporate debt obligations. 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 September 30, 2023 Residential mortgage-backed securities $ — $ 7,271 $ — $ 7,271 Total $ — $ 7,271 $ — $ 7,271 As of December 31, 2022 Corporate debt obligations $ — $ 500 $ — $ 500 Residential mortgage-backed securities — 8,866 — 8,866 Total $ — $ 9,366 $ — $ 9,366 For the nine months ended September 30, 2023, there were no transfers between the levels within the fair value hierarchy. There were no level 3 assets or liabilities held during the three and nine months ended September 30, 2023 and 2022. Fair Value on a Non-recurring Basis: Certain assets and liabilities are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). Financial Assets Level 1 Level 2 Level 3 Total (Dollars in thousands) As of September 30, 2023 Collateral-dependent loans $ — $ — $ 1,091 $ 1,091 OREO — — 1,550 1,550 As of December 31, 2022 Collateral-dependent loans $ — $ — $ 1,091 $ 1,091 OREO — — 1,550 1,550 Collateral-dependent loans are those loans that are accounted for under ASC 326, Financial Instruments - Credit Losses ("ASC 326"), in which the Bank has measured impairment generally based on the fair value of the loan’s collateral. Fair value is generally determined based upon independent third-party appraisals of the properties that collateralize the loans. These assets are generally classified as Level 3 fair values, based upon the lowest level of input that is significant to the fair value measurements. 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. 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, bank owned life insurance, Federal Home Loan Bank of New York ("FHLBNY") restricted stock, 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 that are not carried at fair value at September 30, 2023 and December 31, 2022: September 30, 2023 Carrying Amount Fair Value Total Level 1 Level 2 Level 3 (Dollars in thousands) Financial Assets: Investment securities HTM $ 9,319 $ 7,285 $ — $ 7,285 $ — Loans, net 1,767,704 1,732,007 — 1,710,241 21,766 Financial Liabilities: Time deposits $ 627,893 $ 622,510 $ — $ 622,510 $ — Borrowings 154,213 158,730 — 158,730 — December 31, 2022 Carrying Amount Fair Value Total Level 1 Level 2 Level 3 (Dollars in thousands) Financial Assets: Investment securities HTM $ 9,378 $ 7,805 $ — $ 7,805 $ — Loans, net 1,719,614 1,661,974 — 1,641,444 20,530 Financial Liabilities: Time deposits $ 603,135 $ 609,097 $ — $ 609,097 $ — Borrowings 126,071 127,254 — 127,254 —

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated balance sheet. The contract or notional amounts of these instruments reflect the extent of the Company’s involvement in these particular classes of financial instruments. The Company’s exposure to the maximum possible credit risk in the event of nonperformance by the other party to the financial instruments for commitments to extend credit and standby letters of credit is represented by the contractual or notional amount of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require the payment of a fee. The Company evaluates each customer’s credit-worthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary upon extension of credit, is based on management’s credit evaluation. Collateral held varies but may include accounts receivable; inventory; property, plant and equipment and income-producing commercial properties. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Commitments to fund fixed-rate loans were immaterial at September 30, 2023. Variable-rate commitments are generally issued for less than one year and carry market rates of interest. Such instruments are not likely to be affected by annual rate caps triggered by rising interest rates. Management believes that off-balance sheet risk is not material to the results of operations or financial condition. As of September 30, 2023 and December 31, 2022, unused commitments to extend credit amounted to approximately $113.7 million and $159.0 million, respectively. At September 30, 2023, the allowance for credit losses on off-balance sheet credit exposures was $760.0 thousand. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. As of September 30, 2023 and December 31, 2022, standby letters of credit with customers were $1.5 million and $1.5 million, respectively. On July 6, 2023 and September 29, 2023, the Bank entered into agreements with the FHLBNY for a Municipal Letter of Credit ("MLOC") of $50.0 million and $10.0 million, respectively. The MLOC's are used to pledge against public deposits and both MLOC's expire on October 5, 2023. There were no outstanding borrowings on the letters of credit as of September 30, 2023. The Company also has entered into an employment contract with the President of the Company, which provides for continued payment of certain employment salary and benefits prior to the expiration date of the agreement and in the event of a change in control, as defined. The Company has also entered in Change-in-Control Severance Agreements with certain officers which provide for the payment of severance in certain circumstances following a change in control. We provide banking services to customers that are licensed by various States to do business in the cannabis industry as growers, processors and dispensaries. Cannabis businesses are legal in these States, although they are not legal at the federal level. The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) published guidelines in 2014 for financial institutions servicing state legal cannabis businesses. A financial institution that provides services to cannabis-related businesses can comply with Bank Secrecy Act (“BSA”) disclosure standards by following the FinCEN guidelines. We maintain stringent written policies and procedures related to the acceptance of such businesses and to the monitoring and maintenance of such business accounts. We conduct a significant due diligence review of the cannabis business before the business is accepted, including confirmation that the business is properly licensed by the applicable state. Throughout the relationship, we continue monitoring the business, including site visits, to ensure that the business continues to meet our stringent requirements, including maintenance of required licenses and periodic financial reviews of the business. While we believe we are operating in compliance with the FinCEN guidelines, there can be no assurance that federal enforcement guidelines will not change. Federal prosecutors have significant discretion and there can be no assurance that the federal prosecutors will not choose to strictly enforce the federal laws governing cannabis. Any change in the Federal government’s enforcement position, could cause us to immediately cease providing banking services to the cannabis industry.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income available to the Company	$ 1,029	$ 10,540	$ 20,289	$ 31,369

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2023
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). 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, 2022. The accompanying interim financial statements for the three and nine months ended September 30, 2023 and 2022 are unaudited. The balance sheet as of December 31, 2022, was derived from the audited financial statements. In the opinion of management, these financial statements include all normal and recurring adjustments necessary for a fair statement of the results for such interim periods. Results of operations for the three and nine months ended September 30, 2023 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 credit losses, the valuation of deferred income taxes, and the carrying value of other real estate owned ("OREO").
Allowance for Credit Losses on Loans and Leases	Allowance for Credit Losses on Loans and Leases The allowance for credit losses on loans and leases is a valuation account that is deducted from the loan or lease’s amortized cost basis to present the net amount expected to be collected on the loans and leases. Loans and leases deemed to be uncollectible are charged against the allowance for credit losses on loans and leases, and subsequent recoveries, if any, are credited to the allowance for credit losses on loans and leases. Changes to the allowance for credit losses on loans and leases are recorded through the provision for credit losses. The allowance for credit losses on loans and leases is maintained at a level considered appropriate to absorb expected credit losses over the expected life of the portfolio as of the reporting date. The allowance for credit losses on loans and leases is measured on a collective (pool) basis when similar risk characteristics exist. Parke's loan portfolio segments include commercial and industrial, construction, commercial - owner occupied, commercial - non-owner occupied, residential - 1 to 4 family, residential - 1 to 4 family investment, residential - multifamily, and consumer. Loans that do not share similar risk characteristics are evaluated on an individual basis. Loans evaluated individually are not also included in the collective evaluation. For individually assessed loans, see related details in the Individually Assessed Loans section below. The allowance for credit losses on collectively assessed loans and leases is measured over the expected life of the loan or lease using a vintage loss rate approach, which will then be supplemented with qualitative factors. The vintage loss rate approach creates pools of loans (made up of individual loans) based on the loan segmentation. The loan pools are aggregated by origination year. Charge-offs, net of recoveries, are allocated by the year of charge-off to each loan pool. An average life is prescribed to a pool of loans that were originated in a particular year. The actual charge-offs as a percent of total loans are calculated for each historical year, and projected for future years for each year within the average life time horizon. The sum of the actual charge-offs and projected charge-offs are divided by the average amortized origination amount for each respective year. Those charge-off percentages are added together to obtain an aggregated vintage loss percentage which is then multiplied by the outstanding loan balances to obtain a reserve requirement. Parke runs the Current Expected Credit Loss ("CECL") impairment models on a quarterly basis and qualitatively adjusts model results for risk factors that are not considered within the model but which are relevant in assessing the expected credit losses within the loan and lease pools. Management generally considers the following qualitative factors: •Volume and severity of past-due loans, non-accrual loans and classified loans; •Lending policies and procedures, including underwriting standards and historically based loss/collection, charge-off and recovery practices; • National and economic conditions that may have an impact on credit quality; •Nature and volume of the portfolio; •Existence and effect of any credit concentrations and changes in the level of such concentrations; •The value of the underlying collateral for loans that are not collateral dependent; •Changes in the quality of the loan review system; and •Experience, ability and depth of lending management and staff Parke has elected to not estimate an allowance for credit losses on accrued interest receivable, as it already has a policy in place to reverse or write-off accrued interest, through interest income, in a timely manner. Allowance for Credit Losses on Lending-Related Commitments Parke estimates expected credit losses over the contractual period in which it is exposed to credit risk on contractual obligations to extend credit, unless the obligation is unconditionally cancellable by the Company. The allowance for credit losses on lending-related commitments is recorded in other liabilities in the consolidated balance sheet and is recorded as a provision for credit losses in the consolidated income statement. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over their estimated lives. The lifetime loss rates for off-balance sheet credit exposures are calculated in the same manner as on-balance sheet credit exposures, using the same model and economic forecasts, adjusted for the estimated likelihood that funding will occur. Individually Assessed Loans and Leases ASC 326 provides that a loan or lease is measured individually if it does not share similar risk characteristics with other financial assets. For Parke, loans and leases which are identified to be individually assessed under CECL typically are those that are on non-accrual at the reporting date, and include collateral dependent loans. Collateral Dependent Loans Parke considers a loan to be collateral dependent when foreclosure of the underlying collateral is probable. Parke has also elected to apply the practical expedient to measure expected credit losses of a collateral dependent asset using the fair value of the collateral, less any estimated costs to sell, when foreclosure is not probable but repayment of the loan is expected to be provided substantially through the operation or sale of the collateral, and the borrower is experiencing financial difficulty. Allowance for Credit Losses on Held to Maturity Securities We follow Accounting Standards Codification (ASC) 326-20, Financial Instruments - Credit Loss - Measured at Amortized Cost, to measure expected credit losses on held-to-maturity debt securities on a collective basis by security investment grade. The estimate of expected credit losses considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. The Company classifies the held-to-maturity debt securities into the following major security types: residential mortgage backed, and state and political subdivisions. These securities are highly rated with a history of no credit losses, and are assigned ratings based on the most recent data from ratings agencies depending on the availability of data for the security. Credit ratings of held-to-maturity debt securities, which are a significant input in calculating the expected credit loss, are reviewed on a quarterly basis. Based on the credit ratings of our held-to-maturity securities and our historical experience including no losses, we have determined that an allowance for credit loss on the held-to-maturity portfolio is not required Accrued interest receivable on held-to-maturity debt securities is excluded from the estimate of credit losses and is included in Accrued interest receivable on the Consolidated Statements of Financial Condition. Allowance for Credit Losses on Available for Sale Securities We follow ASC 326-30, Financial Instruments - Credit Loss - Available-for-Sale Debt Securities, which provides guidance related to the recognition of and expanded disclosure requirements for expected credit losses on available-for-sale debt securities. For available-for-sale debt securities in an unrealized loss position, the Company first evaluates whether it intends to sell, or it is more likely than not that it will be required to sell the security before recovery of its amortized cost basis. If either criteria is met, the security's amortized cost basis is reduced to fair value and recognized as a reduction to non-interest income in the Consolidated Statements of Income. For debt securities available-for-sale which the Company does not intend to sell, or it is not likely the security would be required to be sold before recovery, we evaluate whether a decline in fair value has resulted from credit losses or other adverse factors, such as a change in the security's credit rating. In assessing whether a credit loss exists, the Company compares the present value of cash flows expected to be collected from the security with the amortized cost basis of the security. If the present value of cash flows expected to be collected is less than the amortized cost basis, a credit loss exists and an allowance is recorded, limited to the fair value of the security.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements: In March 2020, the FASB issued ASU No. 2020.-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments provide optional guidance to entities for a limited period of time to ease the transition in accounting for and recognizing the effects of reference rate reform on financial reporting. Under the guidance, modifications of contracts due to reference rate reform will not require contract remeasurement or reassessment of a previous accounting determination. For hedge accounting, modification of critical terms of the hedge due to changes in reference rate reform will not affect hedge accounting or de-designate the hedging relationship. The guidance also provides specific expedients for fair value hedges, cash flow hedges, and excluded components. Further, the guidance provides a one-time election to sell or transfer held to maturity debt securities that are affected by the reference rate change. The guidance is effective upon issuance through December 31, 2022. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848, which extends the sunset (or expiration) date of Accounting Standards Codification (ASC) Topic 848 to December 31, 2024. This gives reporting entities two additional years to apply the accounting relief provided under ASC Topic 848 for matters related to reference rate reform. ASU 2022-06 is effective for all reporting entities immediately upon issuance and must be applied on a prospective basis. The Company does not expect the application of this guidance to have a material impact on the Consolidated Financial Statements. Accounting Pronouncements Adopted in 2023 In 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 a 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. The ASU was amended in some aspects by subsequent Accounting Standards Updates. This guidance became effective on January 1, 2023 for the Company. Results and disclosures for reporting periods beginning after January 1, 2023 are presented under ASC 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Schedule of Allowances for Loan Losses Impact of Adoption	The following table illustrates the impact of adopting ASC 326: (Amounts in thousands) January 1, 2023 Assets Pre-adoption Adoption Impact As Reported ACL on loans Commercial and Industrial $ 390 $ 168 $ 558 Construction 2,581 1,899 4,480 Commercial - Owner Occupied 2,298 (171) 2,127 Commercial - Non-owner Occupied 9,709 (951) 8,758 Residential - 1 to 4 Family 6,076 1,782 7,858 Residential - 1 to 4 Family Investment 9,381 (794) 8,587 Residential - Multifamily 1,347 (128) 1,219 Consumer 63 53 116 Total ACL on loans 31,845 1,858 33,703 Deferred Tax Assets 9,184 716 9,900 Liabilities ACL for unfunded commitments — 960 960 Equity Retained Earnings $ 131,706 $ (2,102) $ 129,604

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Summary of Investments in Available-for-sale and Held-to-maturity Securities	The following is a summary of the Company's investments in available for sale and held to maturity securities as of September 30, 2023 and December 31, 2022: As of September 30, 2023 Amortized Gross Gross Fair value (Dollars in thousands) Available for sale: Residential mortgage-backed securities $ 8,137 $ — $ 866 $ 7,271 Total available for sale $ 8,137 $ — $ 866 $ 7,271 Held to maturity: Residential mortgage-backed securities $ 5,449 $ — $ 1,388 $ 4,061 States and political subdivisions 3,870 — 646 3,224 Total held to maturity $ 9,319 $ — $ 2,034 $ 7,285 As of December 31, 2022 Amortized Gross Gross Fair value (Dollars in thousands) Available for sale: Corporate debt obligations $ 500 $ — $ — $ 500 Residential mortgage-backed securities 9,575 3 712 8,866 Total available for sale $ 10,075 $ 3 $ 712 $ 9,366 Held to maturity: Residential mortgage-backed securities $ 5,556 $ — $ 1,096 $ 4,460 States and political subdivisions 3,822 56 533 3,345 Total held to maturity $ 9,378 $ 56 $ 1,629 $ 7,805
Summary of Investments Classified by Contractual Maturity	The amortized cost and fair value of debt securities classified as available for sale and held to maturity, by contractual maturity as of September 30, 2023 are as follows: Amortized Fair (Dollars in thousands) Available for sale: Due within one year $ — $ — Due after one year through five years 2,809 2,566 Due after five years through ten years 1,541 1,396 Due after ten years 3,787 3,309 Total available for sale $ 8,137 $ 7,271 Held to maturity: Due within one year $ — $ — Due after one year through five years 1,395 1,385 Due after five years through ten years — — Due after ten years 7,924 5,900 Total held to maturity $ 9,319 $ 7,285
Summary of 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 for which an allowance for credit losses has not been recorded, which are aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at September 30, 2023 and December 31, 2022: As of September 30, 2023 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 $ 230 $ 4 $ 7,041 $ 862 $ 7,271 $ 866 Total available for sale $ 230 $ 4 $ 7,041 $ 862 $ 7,271 $ 866 Held to maturity: Residential mortgage-backed securities $ — $ — $ 4,061 $ 1,388 $ 4,061 $ 1,388 States and political subdivisions — — 3,224 646 3,224 646 Total held to maturity $ — $ — $ 7,285 $ 2,034 $ 7,285 $ 2,034 As of December 31, 2022 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 $ 7,579 $ 576 $ 1,043 $ 136 $ 8,622 $ 712 Total available for sale $ 7,579 $ 576 $ 1,043 $ 136 $ 8,622 $ 712 Held to maturity: Residential mortgage-backed securities $ — $ — $ 4,460 $ 1,096 $ 4,460 $ 1,096 States and political subdivisions — — 1,943 533 1,943 533 Total held to maturity $ — $ — $ 6,403 $ 1,629 $ 6,403 $ 1,629

LOANS AND ALLOWANCE FOR CREDI_2

LOANS AND ALLOWANCE FOR CREDIT LOSSES ON LOANS (Tables)	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
Summary of Portfolio of Loans Outstanding	The portfolio segments of loans receivable at September 30, 2023 and December 31, 2022, consist of the following: September 30, 2023 December 31, 2022 (Dollars in thousands) Commercial and Industrial $ 31,968 $ 32,383 Construction 150,823 192,357 Real Estate Mortgage: Commercial – Owner Occupied 143,237 125,950 Commercial – Non-owner Occupied 384,222 377,452 Residential – 1 to 4 Family 461,070 444,820 Residential – 1 to 4 Family Investment 500,076 476,210 Residential – Multifamily 122,702 95,556 Consumer 5,925 6,731 Total Loan receivable 1,800,023 1,751,459 Allowance for credit losses on loans (32,319) (31,845) Total loan receivable, net of allowance for credit losses on loans $ 1,767,704 $ 1,719,614 The following table presents the collateral-dependent loans by portfolio segment and collateral type at September 30, 2023: (amounts in thousands) Real Estate Business Assets Other Commercial and Industrial $ 468 $ — $ — Construction 1,091 — — Commercial - Owner Occupied 1,117 — — Commercial - Non-owner Occupied 1,716 — — Residential - 1 to 4 Family — — — Residential - 1 to 4 Family Investment — — — Residential - Multifamily — — — Consumer — — — Total $ 4,392 $ — $ —
Summary of Age Analysis of Past Due Loans by Class	An age analysis of past due loans by class at September 30, 2023 and December 31, 2022 is as follows: September 30, 2023 30-59 60-89 Greater Total Past Current Total (Dollars in Thousands) Commercial and Industrial $ — $ — $ 468 $ 468 $ 31,500 $ 31,968 Construction — — 1,091 1,091 149,732 150,823 Real Estate Mortgage: Commercial – Owner Occupied — — 1,117 1,117 142,120 143,237 Commercial – Non-owner Occupied — 2,678 17,062 19,740 364,482 384,222 Residential – 1 to 4 Family 186 1,290 — 1,476 459,594 461,070 Residential – 1 to 4 Family Investment — 349 — 349 499,727 500,076 Residential – Multifamily — — — — 122,702 122,702 Consumer 16 — — 16 5,909 5,925 Total Loans $ 202 $ 4,317 $ 19,738 $ 24,257 $ 1,775,766 $ 1,800,023 December 31, 2022 30-59 60-89 Greater Total Past Current Total (Dollars in thousands) Commercial and Industrial $ — $ 89 $ — $ 89 $ 32,294 $ 32,383 Construction — — 1,091 1,091 191,266 192,357 Real Estate Mortgage: Commercial – Owner Occupied — — 400 400 125,550 125,950 Commercial – Non-owner Occupied — — 14,553 14,553 362,899 377,452 Residential – 1 to 4 Family 58 — 162 220 444,600 444,820 Residential – 1 to 4 Family Investment — — — — 476,210 476,210 Residential – Multifamily — — — — 95,556 95,556 Consumer 78 — 70 148 6,583 6,731 Total Loans $ 136 $ 89 $ 16,276 $ 16,501 $ 1,734,958 $ 1,751,459
Summary of Financing Receivable, Nonaccrual	The following table provides the amortized cost of loans on nonaccrual status: September 30, 2023 (amounts in thousands) Nonaccrual with no ACL Nonaccrual with ACL Total Nonaccrual Loans Past Due Over 90 Days Still Accruing Total Nonperforming Commercial and Industrial $ 468 $ — $ 468 $ — $ 468 Construction 1,091 — 1,091 — 1,091 Commercial - Owner Occupied 717 400 1,117 — 1,117 Commercial - Non-owner Occupied 13,370 3,692 17,062 — 17,062 Residential - 1 to 4 Family — — — — — Residential - 1 to 4 Family Investment — — — — — Residential - Multifamily — — — — — Consumer — — — — — Total $ 15,646 $ 4,092 $ 19,738 $ — $ 19,738 December 31, 2022 (amounts in thousands) Total Nonaccrual Loans Past Due Over 90 Days Still Accruing Commercial and Industrial $ — $ — Construction 1,091 — Commercial - Owner Occupied 587 — Commercial - Non-owner Occupied 19,568 — Residential - 1 to 4 Family 417 — Residential - 1 to 4 Family Investment — — Residential - Multifamily — — Consumer 70 — Total $ 21,733 $ —
Summary of Analysis of Allowance for Loan Losses	The following tables present the information regarding the allowance for credit losses and associated loan data by portfolio segment under the CECL model in accordance with ASC 326: Real Estate Mortgage Commercial and Industrial Construction Commercial Owner Occupied Commercial Non-owner Occupied Residential 1 to 4 Family Residential 1 to 4 Family Investment Residential Multifamily Consumer Total Allowance for credit losses (Dollars in thousands) Three months ended September 30, 2023 June 30, 2023 $ 590 $ 3,978 $ 1,869 $ 8,798 $ 7,710 $ 7,740 $ 1,232 $ 98 $ 32,015 Charge-offs — — — — — — — — — Recoveries 4 — — — — — — — 4 Provisions (benefits) (79) (833) (153) (276) 1,164 489 25 (37) 300 Ending Balance at September 30, 2023 $ 515 $ 3,145 $ 1,716 $ 8,522 $ 8,874 $ 8,229 $ 1,257 $ 61 $ 32,319 Allowance for credit losses Nine months ended September 30, 2023 December 31, 2022 $ 390 $ 2,581 $ 2,298 $ 9,709 $ 6,076 $ 9,381 $ 1,347 $ 63 $ 31,845 Impact of adoption ASC 326 168 1,899 (171) (951) 1,782 (794) (128) 53 1,858 Charge-offs — — — — — — — — — Recoveries 14 — 2 — — — — — 16 Provisions (benefits) (57) (1,335) (413) (236) 1,016 (358) 38 (55) (1,400) Ending Balance at September 30, 2023 $ 515 $ 3,145 $ 1,716 $ 8,522 $ 8,874 $ 8,229 $ 1,257 $ 61 $ 32,319 During the quarter, the increase to the Residential 1 to 4 Family and Residential 1 to 4 Family Investment portfolio's was due to an increase in the portfolio balances as well as an increase in the qualitative factor for the Residential 1 to 4 Family Residential portfolio driven by an increase in delinquent loan balances. The credit provision during the quarter to the Construction segment was mainly due to a decrease in the portfolio balance. For the nine months ended September 30, 2023, the increase to the provision for the Residential 1 to 4 Family portfolio was mainly driven by an increase in the qualitative factor due to an increase in delinquent loan balances. The credit provision to the Construction and Residential 1 to 4 Family Investment segments was largely driven by declines or slowdowns to growth within the portfolio that lowered loan exposure and also caused changes to the qualitative factors related to loan volume within the portfolio segments, partially offset by an increase in the balance of the Residential 1 - 4 Family Investment segment. The credit provision for the Commercial Owner Occupied portfolio is attributed to a decrease in the historical vintage reserve rate. The following tables present the information regarding the allowance for loan losses and associated loan data by portfolio segment under the incurred loss model: Real Estate Mortgage Commercial and Industrial Construction Commercial Owner Occupied Commercial Non-owner Occupied Residential 1 to 4 Family Residential 1 to 4 Family Investment Residential Multifamily Consumer Total Allowance for loan losses (Dollars in thousands) Three months ended September 30, 2022 June 30, 2022 $ 551 $ 2,202 $ 2,742 $ 7,549 $ 7,291 $ 8,920 $ 1,098 $ 95 $ 30,448 Charge-offs — — — — (66) — — — (66) Recoveries 3 — 4 — — — — — 7 Provisions (benefits) (137) 653 (140) 368 (424) 203 92 (15) 600 Ending Balance at September 30, 2022 $ 417 $ 2,855 $ 2,606 $ 7,917 $ 6,801 $ 9,123 $ 1,190 $ 80 $ 30,989 Allowance for loan losses Nine months ended September 30, 2022 December 31, 2021 $ 417 $ 2,662 $ 2,997 $ 7,476 $ 7,045 $ 7,925 $ 1,215 $ 108 $ 29,845 Charge-offs — — — — (66) — — — (66) Recoveries 12 100 15 — 133 — — — 260 Provisions (benefits) (12) 93 (406) 441 (311) 1,198 (25) (28) 950 Ending Balance at September 30, 2022 $ 417 $ 2,855 $ 2,606 $ 7,917 $ 6,801 $ 9,123 $ 1,190 $ 80 $ 30,989 Allowance for loan losses Individually evaluated for impairment $ — $ — $ 4 $ 125 $ 20 $ — $ — $ — $ 149 Collectively evaluated for impairment 417 2,855 2,602 7,792 6,781 9,123 1,190 80 30,840 Ending Balance at September 30, 2022 $ 417 $ 2,855 $ 2,606 $ 7,917 $ 6,801 $ 9,123 $ 1,190 $ 80 $ 30,989 Loans Individually evaluated for impairment $ — $ 1,139 $ 1,177 $ 19,655 $ 420 $ — $ — $ 70 $ 22,461 Collectively evaluated for impairment 29,407 192,972 128,929 327,888 431,646 460,922 78,162 6,970 1,656,896 Ending Balance at September 30, 2022 $ 29,407 $ 194,111 $ 130,106 $ 347,543 $ 432,066 $ 460,922 $ 78,162 $ 7,040 $ 1,679,357
Summary of Analysis of Credit Risk Profile by Internally Assigned Grades	The following tables provide an analysis of loans by portfolio segment based on the credit quality indicators used to determine the allowance for credit losses, as of September 30, 2023 under the current expected credit loss model. (Dollars in thousands) Term Loans Amortized Cost Basis by Origination Year Revolving Loans at Amortized Cost Basis As of September 30, 2023 2023 2022 2021 2020 Prior Total Commercial and Industrial Pass $ 4,435 $ 1,857 $ 109 $ 3,442 $ 7,550 $ 14,109 $ 31,502 OAEM — — — — — — — Substandard — 466 — — — — 466 Doubtful — — — — — — — $ 4,435 $ 2,323 $ 109 $ 3,442 $ 7,550 $ 14,109 $ 31,968 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — Construction Pass $ 324 $ 3,338 $ 4,500 $ 193 $ — $ 141,377 $ 149,732 OAEM — — — — — — — Substandard — — — — — 1,091 1,091 Doubtful — — — — — — — $ 324 $ 3,338 $ 4,500 $ 193 $ — $ 142,468 $ 150,823 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — Commercial – Owner Occupied Pass $ 19,546 $ 36,255 $ 21,678 $ 7,173 $ 55,090 $ 2,378 $ 142,120 OAEM — — — — — — — Substandard — — — — 1,117 — 1,117 Doubtful — — — — — — — $ 19,546 $ 36,255 $ 21,678 $ 7,173 $ 56,207 $ 2,378 $ 143,237 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — Commercial – Non-owner Occupied Pass $ 14,572 $ 99,540 $ 41,751 $ 34,116 $ 175,389 $ 1,179 $ 366,547 OAEM — — — — — — — Substandard — — — — 17,675 — 17,675 Doubtful — — — — — — — $ 14,572 $ 99,540 $ 41,751 $ 34,116 $ 193,064 $ 1,179 $ 384,222 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — Residential – 1 to 4 Family Performing $ 46,213 $ 118,758 $ 63,059 $ 33,701 $ 195,472 $ 3,867 $ 461,070 Nonperforming — — — — — — — $ 46,213 $ 118,758 $ 63,059 $ 33,701 $ 195,472 $ 3,867 $ 461,070 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — Residential – 1 to 4 Family Investment Performing $ 63,774 $ 141,343 $ 118,955 $ 51,438 $ 124,566 $ — $ 500,076 Nonperforming — — — — — — — $ 63,774 $ 141,343 $ 118,955 $ 51,438 $ 124,566 $ — $ 500,076 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — Residential – Multifamily Pass $ 497 $ 15,670 $ 43,669 $ 12,230 $ 50,636 $ — $ 122,702 OAEM — — — — — — $ — Substandard — — — — — — $ — Doubtful — — — — — — — $ 497 $ 15,670 $ 43,669 $ 12,230 $ 50,636 $ — $ 122,702 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — Consumer Performing $ — $ — $ — $ — $ 5,909 $ 16 $ 5,925 Nonperforming — — — — — — — $ — $ — $ — $ — $ 5,909 $ 16 $ 5,925 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — An analysis of the credit risk profile by internally assigned grades under the incurred loss model as of December 31, 2022 is as follows: At December 31, 2022 Pass OAEM Substandard Doubtful Total (Dollars in thousands) Commercial and Industrial $ 32,383 $ — $ — $ — $ 32,383 Construction 191,266 — 1,091 — 192,357 Real Estate Mortgage: Commercial – Owner Occupied 122,523 3,027 400 — 125,950 Commercial – Non-owner Occupied 362,899 — 14,553 — 377,452 Residential – 1 to 4 Family 444,658 — 162 — 444,820 Residential – 1 to 4 Family Investment 476,210 — — — 476,210 Residential – Multifamily 95,556 — — — 95,556 Consumer 6,661 — 70 — 6,731 Total $ 1,732,156 $ 3,027 $ 16,276 $ — $ 1,751,459
Summary of Financing Receivable, Modified	The following table shows the amortized cost basis at the end of the reporting period of the loans modified to borrowers experiencing financial difficulty, disaggregated by class of financing receivable and type of concession granted. Loan Modifications Made to Borrowers Experiencing Financial Difficulty September 30, 2023 (Dollars in thousands) Term Extension More-Than-Insignificant Payment Delay Interest Rate Reduction Other Total % of Total Loan Category Commercial – Non-owner Occupied $ — $ — $ — $ 15,346 $ 15,346 4.0 % Total $ — $ — $ — $ 15,346 $ 15,346 As of September 30, 2023, Parke had no commitments to lend additional amounts to the borrowers included in the previous table. The following table describes the financial effect of the modifications made to borrowers experiencing financial difficulty as of September 30, 2023: Other Commercial – Non-owner Occupied Forbearance agreement made on two loans to the same borrower whereby the Company will receive all principal and interest due by the original maturity date and where the Company will not foreclose as long as payments are made as per the terms of the agreement. September 30, 2023 Current 30-89 Days Past Due Greater than 90 Days Past Due Total Commercial – Non-owner Occupied $ 15,346 $ — $ — $ 15,346 Total $ 15,346 $ — $ — $ 15,346

EARNINGS PER SHARE ("EPS") (Tab

EARNINGS PER SHARE ("EPS") (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Summary of Calculation of Basic and Diluted EPS	The following tables set forth the calculation of basic and diluted EPS for the three and nine-month periods ended September 30, 2023 and 2022. Three months ended September 30, Nine months ended September 30, 2023 2022 2023 2022 (Dollars in thousands except share and per share data) Basic earnings per common share Net income available to the Company $ 1,029 $ 10,540 $ 20,289 $ 31,369 Less: Dividend on series B preferred stock (7) (7) (20) (20) Net income available to common shareholders 1,022 10,533 20,269 31,349 Basic weighted-average common shares outstanding 11,945,844 11,919,472 11,945,144 11,913,085 Basic earnings per common share $ 0.09 $ 0.88 $ 1.70 $ 2.63 Diluted earnings per common share Net income available to common shares $ 1,022 $ 10,533 $ 20,269 $ 31,349 Add: Dividend on series B preferred stock 7 7 20 20 Net income available to diluted common shares 1,029 10,540 20,289 31,369 Basic weighted-average common shares outstanding 11,945,844 11,919,472 11,945,144 11,913,085 Dilutive potential common shares 185,981 250,672 192,064 265,487 Diluted weighted-average common shares outstanding 12,131,825 12,170,144 12,137,208 12,178,572 Diluted earnings per common share $ 0.08 $ 0.87 $ 1.67 $ 2.58

FAIR VALUE (Tables)

FAIR VALUE (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Summary of 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 September 30, 2023 Residential mortgage-backed securities $ — $ 7,271 $ — $ 7,271 Total $ — $ 7,271 $ — $ 7,271 As of December 31, 2022 Corporate debt obligations $ — $ 500 $ — $ 500 Residential mortgage-backed securities — 8,866 — 8,866 Total $ — $ 9,366 $ — $ 9,366
Summary of Fair Value on a Non-recurring Basis	Certain assets and liabilities are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment). Financial Assets Level 1 Level 2 Level 3 Total (Dollars in thousands) As of September 30, 2023 Collateral-dependent loans $ — $ — $ 1,091 $ 1,091 OREO — — 1,550 1,550 As of December 31, 2022 Collateral-dependent loans $ — $ — $ 1,091 $ 1,091 OREO — — 1,550 1,550
Summary of Carrying Value and Fair Value of Financial Instruments	The following table summarizes the carrying amounts and fair values for financial instruments that are not carried at fair value at September 30, 2023 and December 31, 2022: September 30, 2023 Carrying Amount Fair Value Total Level 1 Level 2 Level 3 (Dollars in thousands) Financial Assets: Investment securities HTM $ 9,319 $ 7,285 $ — $ 7,285 $ — Loans, net 1,767,704 1,732,007 — 1,710,241 21,766 Financial Liabilities: Time deposits $ 627,893 $ 622,510 $ — $ 622,510 $ — Borrowings 154,213 158,730 — 158,730 — December 31, 2022 Carrying Amount Fair Value Total Level 1 Level 2 Level 3 (Dollars in thousands) Financial Assets: Investment securities HTM $ 9,378 $ 7,805 $ — $ 7,805 $ — Loans, net 1,719,614 1,661,974 — 1,641,444 20,530 Financial Liabilities: Time deposits $ 603,135 $ 609,097 $ — $ 609,097 $ — Borrowings 126,071 127,254 — 127,254 —

ORGANIZATION (Details)

ORGANIZATION (Details)	9 Months Ended
	Sep. 30, 2023 branch
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Date of commencement of operations	Jan. 28, 1999
Number of additional branch office locations	6

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	Sep. 30, 2023	Jan. 01, 2023	Dec. 31, 2022
Noncontrolling Interest [Line Items]
Retained earnings	$ (143,422,000)	$ (129,604,000)	$ (131,706,000)
ACL for unfunded commitments		960,000	$ 0
Accounting Standards Update 2016-13
Noncontrolling Interest [Line Items]
Retained earnings		2,100,000
Adjustment for adoption of new ASU		1,900,000
ACL for unfunded commitments		$ 960,000

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Impact of Adoption (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Jan. 01, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Assets
Total ACL on loans	$ 32,319	$ 32,015	$ 33,703	$ 31,845	$ 30,989	$ 30,448	$ 29,845
Deferred tax asset	9,940		9,900	9,184
Liabilities
ACL for unfunded commitments			960	0
Equity
Retained earnings	143,422		129,604	131,706
Commercial and Industrial
Assets
Total ACL on loans	515	590	558	390	417	551	417
Construction
Assets
Total ACL on loans	3,145	3,978	4,480	2,581	2,855	2,202	2,662
Real Estate Mortgage | Commercial – Owner Occupied
Assets
Total ACL on loans	1,716	1,869	2,127	2,298	2,606	2,742	2,997
Real Estate Mortgage | Commercial – Non-owner Occupied
Assets
Total ACL on loans	8,522	8,798	8,758	9,709	7,917	7,549	7,476
Real Estate Mortgage | Residential – 1 to 4 Family
Assets
Total ACL on loans	8,874	7,710	7,858	6,076	6,801	7,291	7,045
Real Estate Mortgage | Residential – 1 to 4 Family Investment
Assets
Total ACL on loans	8,229	7,740	8,587	9,381	9,123	8,920	7,925
Real Estate Mortgage | Residential – Multifamily
Assets
Total ACL on loans	1,257	1,232	1,219	1,347	1,190	1,098	1,215
Consumer
Assets
Total ACL on loans	$ 61	$ 98	116	$ 63	$ 80	$ 95	$ 108
Cumulative Effect, Period of Adoption, Adjusted Balance
Assets
Total ACL on loans			1,858
Deferred tax asset			716
Liabilities
ACL for unfunded commitments			960
Equity
Retained earnings			(2,102)
Cumulative Effect, Period of Adoption, Adjusted Balance | Commercial and Industrial
Assets
Total ACL on loans			168
Cumulative Effect, Period of Adoption, Adjusted Balance | Construction
Assets
Total ACL on loans			1,899
Cumulative Effect, Period of Adoption, Adjusted Balance | Real Estate Mortgage | Commercial – Owner Occupied
Assets
Total ACL on loans			(171)
Cumulative Effect, Period of Adoption, Adjusted Balance | Real Estate Mortgage | Commercial – Non-owner Occupied
Assets
Total ACL on loans			(951)
Cumulative Effect, Period of Adoption, Adjusted Balance | Real Estate Mortgage | Residential – 1 to 4 Family
Assets
Total ACL on loans			1,782
Cumulative Effect, Period of Adoption, Adjusted Balance | Real Estate Mortgage | Residential – 1 to 4 Family Investment
Assets
Total ACL on loans			(794)
Cumulative Effect, Period of Adoption, Adjusted Balance | Real Estate Mortgage | Residential – Multifamily
Assets
Total ACL on loans			(128)
Cumulative Effect, Period of Adoption, Adjusted Balance | Consumer
Assets
Total ACL on loans			$ 53

INVESTMENT SECURITIES - Summary

INVESTMENT SECURITIES - Summary of Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Available for sale:
Amortized cost	$ 8,137	$ 10,075
Gross unrealized gains	0	3
Gross unrealized losses	866	712
Fair value	7,271	9,366
Held to maturity:
Amortized cost	9,319	9,378
Gross unrealized gains	0	56
Gross unrealized losses	2,034	1,629
Fair value	7,285	7,805
Corporate debt obligations
Available for sale:
Amortized cost		500
Gross unrealized gains		0
Gross unrealized losses		0
Fair value		500
Residential mortgage-backed securities
Available for sale:
Amortized cost	8,137	9,575
Gross unrealized gains	0	3
Gross unrealized losses	866	712
Fair value	7,271	8,866
Held to maturity:
Amortized cost	5,449	5,556
Gross unrealized gains	0	0
Gross unrealized losses	1,388	1,096
Fair value	4,061	4,460
States and political subdivisions
Held to maturity:
Amortized cost	3,870	3,822
Gross unrealized gains	0	56
Gross unrealized losses	646	533
Fair value	$ 3,224	$ 3,345

INVESTMENT SECURITIES - Amortiz

INVESTMENT SECURITIES - Amortized Cost and Fair Value of Debt Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Available for sale, Amortized Cost
Due within one year	$ 0
Due after one year through five years	2,809
Due after five years through ten years	1,541
Due after ten years	3,787
Amortized cost	8,137	$ 10,075
Available for sale, Fair Value
Due within one year	0
Due after one year through five years	2,566
Due after five years through ten years	1,396
Due after ten years	3,309
Total available for sale	7,271	9,366
Held to maturity, Amortized Cost
Due within one year	0
Due after one year through five years	1,395
Due after five years through ten years	0
Due after ten years	7,924
Amortized cost	9,319	9,378
Held to maturity, Fair Value
Due within one year	0
Due after one year through five years	1,385
Due after five years through ten years	0
Due after ten years	5,900
Total held to maturity	$ 7,285	$ 7,805

INVESTMENT SECURITIES - Gross U

INVESTMENT SECURITIES - Gross Unrealized Losses and Fair Value of Investments with Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Available for sale:
Less Than 12 Months, Fair Value	$ 230	$ 7,579
12 Months or Greater, Fair value	7,041	1,043
Total, Fair Value	7,271	8,622
Less Than 12 Months, Unrealized Losses	4	576
12 Months or Greater, Unrealized Losses	862	136
Total, Unrealized Losses	866	712
Held to maturity:
Less Than 12 Months, Fair Value	0	0
12 Months or Greater, Fair value	7,285	6,403
Total, Fair Value	7,285	6,403
Less Than 12 Months, Unrealized Losses	0	0
12 Months or Greater, Unrealized Losses	2,034	1,629
Total, Unrealized Losses	2,034	1,629
Residential mortgage-backed securities
Available for sale:
Less Than 12 Months, Fair Value	230	7,579
12 Months or Greater, Fair value	7,041	1,043
Total, Fair Value	7,271	8,622
Less Than 12 Months, Unrealized Losses	4	576
12 Months or Greater, Unrealized Losses	862	136
Total, Unrealized Losses	866	712
Held to maturity:
Less Than 12 Months, Fair Value	0	0
12 Months or Greater, Fair value	4,061	4,460
Total, Fair Value	4,061	4,460
Less Than 12 Months, Unrealized Losses	0	0
12 Months or Greater, Unrealized Losses	1,388	1,096
Total, Unrealized Losses	1,388	1,096
States and political subdivisions
Held to maturity:
Less Than 12 Months, Fair Value	0	0
12 Months or Greater, Fair value	3,224	1,943
Total, Fair Value	3,224	1,943
Less Than 12 Months, Unrealized Losses	0	0
12 Months or Greater, Unrealized Losses	646	533
Total, Unrealized Losses	$ 646	$ 533

INVESTMENT SECURITIES - Narrati

INVESTMENT SECURITIES - Narrative (Details) - Residential mortgage-backed securities	Sep. 30, 2023 security
Debt Securities, Available-for-sale [Line Items]
Number of debt securities, loss position, less than 12 months	16
Number of debt securities, loss position, 12 months or greater	19

LOANS AND ALLOWANCE FOR CREDI_3

LOANS AND ALLOWANCE FOR CREDIT LOSSES ON LOANS - Portfolio of Loans Outstanding (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Jan. 01, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unearned income, net deferred loan fees and unamortized discounts and premiums	$ 2,200			$ 1,900
Loans, net of unearned income	1,800,023			1,751,459	$ 1,679,357
Allowance for credit losses on loans	(32,319)	$ (32,015)	$ (33,703)	(31,845)	(30,989)	$ (30,448)	$ (29,845)
Net loans	1,767,704			1,719,614
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	31,968			32,383	29,407
Allowance for credit losses on loans	(515)	(590)	(558)	(390)	(417)	(551)	(417)
Construction
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	150,823			192,357	194,111
Allowance for credit losses on loans	(3,145)	(3,978)	(4,480)	(2,581)	(2,855)	(2,202)	(2,662)
Real Estate Mortgage | Commercial – Owner Occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	143,237			125,950	130,106
Allowance for credit losses on loans	(1,716)	(1,869)	(2,127)	(2,298)	(2,606)	(2,742)	(2,997)
Real Estate Mortgage | Commercial – Non-owner Occupied
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	384,222			377,452	347,543
Allowance for credit losses on loans	(8,522)	(8,798)	(8,758)	(9,709)	(7,917)	(7,549)	(7,476)
Real Estate Mortgage | Residential – 1 to 4 Family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	461,070			444,820	432,066
Allowance for credit losses on loans	(8,874)	(7,710)	(7,858)	(6,076)	(6,801)	(7,291)	(7,045)
Real Estate Mortgage | Residential – 1 to 4 Family Investment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	500,076			476,210	460,922
Allowance for credit losses on loans	(8,229)	(7,740)	(8,587)	(9,381)	(9,123)	(8,920)	(7,925)
Real Estate Mortgage | Residential – Multifamily
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	122,702			95,556	78,162
Allowance for credit losses on loans	(1,257)	(1,232)	(1,219)	(1,347)	(1,190)	(1,098)	(1,215)
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net of unearned income	5,925			6,731	7,040
Allowance for credit losses on loans	$ (61)	$ (98)	$ (116)	$ (63)	$ (80)	$ (95)	$ (108)

LOANS AND ALLOWANCE FOR CREDI_4

LOANS AND ALLOWANCE FOR CREDIT LOSSES ON LOANS - Nonaccrual and Past Due Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	$ 1,800,023	$ 1,751,459	$ 1,679,357
Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	24,257	16,501
30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	202	136
60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	4,317	89
Greater than 90 Days
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	19,738	16,276
Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,775,766	1,734,958
Commercial and Industrial
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	31,968	32,383	29,407
Commercial and Industrial | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	468	89
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	0	89
Commercial and Industrial | Greater than 90 Days
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	468	0
Commercial and Industrial | Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	31,500	32,294
Construction
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	150,823	192,357	194,111
Construction | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,091	1,091
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
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,091	1,091
Construction | Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	149,732	191,266
Real Estate Mortgage | Commercial – Owner Occupied
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	143,237	125,950	130,106
Real Estate Mortgage | Commercial – Owner Occupied | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,117	400
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
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,117	400
Real Estate Mortgage | Commercial – Owner Occupied | Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	142,120	125,550
Real Estate Mortgage | Commercial – Non-owner Occupied
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	384,222	377,452	347,543
Real Estate Mortgage | Commercial – Non-owner Occupied | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	19,740	14,553
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	2,678	0
Real Estate Mortgage | Commercial – Non-owner Occupied | Greater than 90 Days
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	17,062	14,553
Real Estate Mortgage | Commercial – Non-owner Occupied | Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	364,482	362,899
Real Estate Mortgage | Residential – 1 to 4 Family
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	461,070	444,820	432,066
Real Estate Mortgage | Residential – 1 to 4 Family | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,476	220
Real Estate Mortgage | Residential – 1 to 4 Family | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	186	58
Real Estate Mortgage | Residential – 1 to 4 Family | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	1,290	0
Real Estate Mortgage | Residential – 1 to 4 Family | Greater than 90 Days
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	162
Real Estate Mortgage | Residential – 1 to 4 Family | Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	459,594	444,600
Real Estate Mortgage | Residential – 1 to 4 Family Investment
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	500,076	476,210	460,922
Real Estate Mortgage | Residential – 1 to 4 Family Investment | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	349	0
Real Estate Mortgage | Residential – 1 to 4 Family Investment | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage | Residential – 1 to 4 Family Investment | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	349	0
Real Estate Mortgage | Residential – 1 to 4 Family Investment | Greater than 90 Days
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage | Residential – 1 to 4 Family Investment | Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	499,727	476,210
Real Estate Mortgage | Residential – Multifamily
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	122,702	95,556	78,162
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
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	122,702	95,556
Consumer
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	5,925	6,731	$ 7,040
Consumer | Total Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	16	148
Consumer | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	16	78
Consumer | 60-89 Days Past Due
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	0
Consumer | Greater than 90 Days
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	0	70
Consumer | Current
Financing Receivable, Past Due [Line Items]
Loans, net of unearned income	$ 5,909	$ 6,583

LOANS AND ALLOWANCE FOR CREDI_5

LOANS AND ALLOWANCE FOR CREDIT LOSSES ON LOANS - Nonaccrual Status (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with no ACL	$ 15,646
Nonaccrual with ACL	4,092
Total Nonaccrual	19,738	$ 21,733
Loans > 90 Days and Accruing	0	0
Commercial and Industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with no ACL	468
Nonaccrual with ACL	0
Total Nonaccrual	468	0
Loans > 90 Days and Accruing	0	0
Construction
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with no ACL	1,091
Nonaccrual with ACL	0
Total Nonaccrual	1,091	1,091
Loans > 90 Days and Accruing	0	0
Real Estate Mortgage | Commercial – Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with no ACL	717
Nonaccrual with ACL	400
Total Nonaccrual	1,117	587
Loans > 90 Days and Accruing	0	0
Real Estate Mortgage | Commercial – Non-owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with no ACL	13,370
Nonaccrual with ACL	3,692
Total Nonaccrual	17,062	19,568
Loans > 90 Days and Accruing	0	0
Real Estate Mortgage | Residential – 1 to 4 Family
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with no ACL	0
Nonaccrual with ACL	0
Total Nonaccrual	0	417
Loans > 90 Days and Accruing	0	0
Real Estate Mortgage | Residential – 1 to 4 Family Investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with no ACL	0
Nonaccrual with ACL	0
Total Nonaccrual	0	0
Loans > 90 Days and Accruing	0	0
Real Estate Mortgage | Residential – Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with no ACL	0
Nonaccrual with ACL	0
Total Nonaccrual	0	0
Loans > 90 Days and Accruing	0	0
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Nonaccrual with no ACL	0
Nonaccrual with ACL	0
Total Nonaccrual	0	70
Loans > 90 Days and Accruing	$ 0	$ 0

LOANS AND ALLOWANCE FOR CREDI_6

LOANS AND ALLOWANCE FOR CREDIT LOSSES ON LOANS - Allowance for Credit Losses (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Jan. 01, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Off-balance-sheet, credit exposure			$ 760,000
Allowance for Loan Losses [Roll Forward]
Beginning balance	$ 32,015,000	$ 30,448,000	31,845,000	$ 29,845,000
Charge-offs	0	(66,000)	0	(66,000)
Recoveries	4,000	7,000	16,000	260,000
Provisions (benefits)	300,000		(1,400,000)
Provisions (benefits)	300,000	600,000	(1,600,000)	950,000
Ending balance	32,319,000	30,989,000	32,319,000	30,989,000
Allowance for credit losses
Individually evaluated for impairment		149,000		149,000
Collectively evaluated for impairment		30,840,000		30,840,000
Allowance for credit losses	32,319,000	30,989,000	32,319,000	30,989,000	$ 33,703,000	$ 31,845,000
Loans
Individually evaluated for impairment		22,461,000		22,461,000
Collectively evaluated for impairment		1,656,896,000		1,656,896,000
Total	1,800,023,000	1,679,357,000	1,800,023,000	1,679,357,000		1,751,459,000
Accounting Standards Update 2016-13
Allowance for Loan Losses [Roll Forward]
Beginning balance			1,858,000
Allowance for credit losses
Allowance for credit losses						1,858,000
Commercial and Industrial
Allowance for Loan Losses [Roll Forward]
Beginning balance	590,000	551,000	390,000	417,000
Charge-offs	0	0	0	0
Recoveries	4,000	3,000	14,000	12,000
Provisions (benefits)	(79,000)		(57,000)
Provisions (benefits)		(137,000)		(12,000)
Ending balance	515,000	417,000	515,000	417,000
Allowance for credit losses
Individually evaluated for impairment		0		0
Collectively evaluated for impairment		417,000		417,000
Allowance for credit losses	515,000	417,000	515,000	417,000	558,000	390,000
Loans
Individually evaluated for impairment		0		0
Collectively evaluated for impairment		29,407,000		29,407,000
Total	31,968,000	29,407,000	31,968,000	29,407,000		32,383,000
Commercial and Industrial | Accounting Standards Update 2016-13
Allowance for Loan Losses [Roll Forward]
Beginning balance			168,000
Allowance for credit losses
Allowance for credit losses						168,000
Construction
Allowance for Loan Losses [Roll Forward]
Beginning balance	3,978,000	2,202,000	2,581,000	2,662,000
Charge-offs	0	0	0	0
Recoveries	0	0	0	100,000
Provisions (benefits)	(833,000)		(1,335,000)
Provisions (benefits)		653,000		93,000
Ending balance	3,145,000	2,855,000	3,145,000	2,855,000
Allowance for credit losses
Individually evaluated for impairment		0		0
Collectively evaluated for impairment		2,855,000		2,855,000
Allowance for credit losses	3,145,000	2,855,000	3,145,000	2,855,000	4,480,000	2,581,000
Loans
Individually evaluated for impairment		1,139,000		1,139,000
Collectively evaluated for impairment		192,972,000		192,972,000
Total	150,823,000	194,111,000	150,823,000	194,111,000		192,357,000
Construction | Accounting Standards Update 2016-13
Allowance for Loan Losses [Roll Forward]
Beginning balance			1,899,000
Allowance for credit losses
Allowance for credit losses						1,899,000
Real Estate Mortgage | Commercial Owner Occupied
Allowance for Loan Losses [Roll Forward]
Beginning balance	1,869,000	2,742,000	2,298,000	2,997,000
Charge-offs	0	0	0	0
Recoveries	0	4,000	2,000	15,000
Provisions (benefits)	(153,000)		(413,000)
Provisions (benefits)		(140,000)		(406,000)
Ending balance	1,716,000	2,606,000	1,716,000	2,606,000
Allowance for credit losses
Individually evaluated for impairment		4,000		4,000
Collectively evaluated for impairment		2,602,000		2,602,000
Allowance for credit losses	1,716,000	2,606,000	1,716,000	2,606,000	2,127,000	2,298,000
Loans
Individually evaluated for impairment		1,177,000		1,177,000
Collectively evaluated for impairment		128,929,000		128,929,000
Total	143,237,000	130,106,000	143,237,000	130,106,000		125,950,000
Real Estate Mortgage | Commercial Owner Occupied | Accounting Standards Update 2016-13
Allowance for Loan Losses [Roll Forward]
Beginning balance			(171,000)
Allowance for credit losses
Allowance for credit losses						(171,000)
Real Estate Mortgage | Commercial Non-owner Occupied
Allowance for Loan Losses [Roll Forward]
Beginning balance	8,798,000	7,549,000	9,709,000	7,476,000
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provisions (benefits)	(276,000)		(236,000)
Provisions (benefits)		368,000		441,000
Ending balance	8,522,000	7,917,000	8,522,000	7,917,000
Allowance for credit losses
Individually evaluated for impairment		125,000		125,000
Collectively evaluated for impairment		7,792,000		7,792,000
Allowance for credit losses	8,522,000	7,917,000	8,522,000	7,917,000	8,758,000	9,709,000
Loans
Individually evaluated for impairment		19,655,000		19,655,000
Collectively evaluated for impairment		327,888,000		327,888,000
Total	384,222,000	347,543,000	384,222,000	347,543,000		377,452,000
Real Estate Mortgage | Commercial Non-owner Occupied | Accounting Standards Update 2016-13
Allowance for Loan Losses [Roll Forward]
Beginning balance			(951,000)
Allowance for credit losses
Allowance for credit losses						(951,000)
Real Estate Mortgage | Residential 1 to 4 Family
Allowance for Loan Losses [Roll Forward]
Beginning balance	7,710,000	7,291,000	6,076,000	7,045,000
Charge-offs	0	(66,000)	0	(66,000)
Recoveries	0	0	0	133,000
Provisions (benefits)	1,164,000		1,016,000
Provisions (benefits)		(424,000)		(311,000)
Ending balance	8,874,000	6,801,000	8,874,000	6,801,000
Allowance for credit losses
Individually evaluated for impairment		20,000		20,000
Collectively evaluated for impairment		6,781,000		6,781,000
Allowance for credit losses	8,874,000	6,801,000	8,874,000	6,801,000	7,858,000	6,076,000
Loans
Individually evaluated for impairment		420,000		420,000
Collectively evaluated for impairment		431,646,000		431,646,000
Total	461,070,000	432,066,000	461,070,000	432,066,000		444,820,000
Real Estate Mortgage | Residential 1 to 4 Family | Accounting Standards Update 2016-13
Allowance for Loan Losses [Roll Forward]
Beginning balance			1,782,000
Allowance for credit losses
Allowance for credit losses						1,782,000
Real Estate Mortgage | Residential – 1 to 4 Family Investment
Allowance for Loan Losses [Roll Forward]
Beginning balance	7,740,000	8,920,000	9,381,000	7,925,000
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provisions (benefits)	489,000		(358,000)
Provisions (benefits)		203,000		1,198,000
Ending balance	8,229,000	9,123,000	8,229,000	9,123,000
Allowance for credit losses
Individually evaluated for impairment		0		0
Collectively evaluated for impairment		9,123,000		9,123,000
Allowance for credit losses	8,229,000	9,123,000	8,229,000	9,123,000	8,587,000	9,381,000
Loans
Individually evaluated for impairment		0		0
Collectively evaluated for impairment		460,922,000		460,922,000
Total	500,076,000	460,922,000	500,076,000	460,922,000		476,210,000
Real Estate Mortgage | Residential – 1 to 4 Family Investment | Accounting Standards Update 2016-13
Allowance for Loan Losses [Roll Forward]
Beginning balance			(794,000)
Allowance for credit losses
Allowance for credit losses						(794,000)
Real Estate Mortgage | Residential Multifamily
Allowance for Loan Losses [Roll Forward]
Beginning balance	1,232,000	1,098,000	1,347,000	1,215,000
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provisions (benefits)	25,000		38,000
Provisions (benefits)		92,000		(25,000)
Ending balance	1,257,000	1,190,000	1,257,000	1,190,000
Allowance for credit losses
Individually evaluated for impairment		0		0
Collectively evaluated for impairment		1,190,000		1,190,000
Allowance for credit losses	1,257,000	1,190,000	1,257,000	1,190,000	1,219,000	1,347,000
Loans
Individually evaluated for impairment		0		0
Collectively evaluated for impairment		78,162,000		78,162,000
Total	122,702,000	78,162,000	122,702,000	78,162,000		95,556,000
Real Estate Mortgage | Residential Multifamily | Accounting Standards Update 2016-13
Allowance for Loan Losses [Roll Forward]
Beginning balance			(128,000)
Allowance for credit losses
Allowance for credit losses						(128,000)
Consumer
Allowance for Loan Losses [Roll Forward]
Beginning balance	98,000	95,000	63,000	108,000
Charge-offs	0	0	0	0
Recoveries	0	0	0	0
Provisions (benefits)	(37,000)		(55,000)
Provisions (benefits)		(15,000)		(28,000)
Ending balance	61,000	80,000	61,000	80,000
Allowance for credit losses
Individually evaluated for impairment		0		0
Collectively evaluated for impairment		80,000		80,000
Allowance for credit losses	61,000	80,000	61,000	80,000	$ 116,000	63,000
Loans
Individually evaluated for impairment		70,000		70,000
Collectively evaluated for impairment		6,970,000		6,970,000
Total	$ 5,925,000	$ 7,040,000	5,925,000	$ 7,040,000		6,731,000
Consumer | Accounting Standards Update 2016-13
Allowance for Loan Losses [Roll Forward]
Beginning balance			$ 53,000
Allowance for credit losses
Allowance for credit losses						$ 53,000

LOANS AND ALLOWANCE FOR CREDI_7

LOANS AND ALLOWANCE FOR CREDIT LOSSES ON LOANS - Collateral Held Loans (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	$ 4,392
Real Estate | Commercial and Industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	468
Real Estate | Construction
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	1,091
Real Estate | Real Estate Mortgage | Commercial – Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	1,117
Real Estate | Real Estate Mortgage | Commercial – Non-owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	1,716
Real Estate | Real Estate Mortgage | Residential – 1 to 4 Family
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Real Estate | Real Estate Mortgage | Residential – 1 to 4 Family Investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Real Estate | Real Estate Mortgage | Residential – Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Real Estate | Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Business Assets
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Business Assets | Commercial and Industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Business Assets | Construction
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Business Assets | Real Estate Mortgage | Commercial – Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Business Assets | Real Estate Mortgage | Commercial – Non-owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Business Assets | Real Estate Mortgage | Residential – 1 to 4 Family
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Business Assets | Real Estate Mortgage | Residential – 1 to 4 Family Investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Business Assets | Real Estate Mortgage | Residential – Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Business Assets | Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Other
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Other | Commercial and Industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Other | Construction
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Other | Real Estate Mortgage | Commercial – Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Other | Real Estate Mortgage | Commercial – Non-owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Other | Real Estate Mortgage | Residential – 1 to 4 Family
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Other | Real Estate Mortgage | Residential – 1 to 4 Family Investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Other | Real Estate Mortgage | Residential – Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	0
Other | Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	$ 0

LOANS AND ALLOWANCE FOR CREDI_8

LOANS AND ALLOWANCE FOR CREDIT LOSSES ON LOANS - Summary of Accounts Receivable, Allowance for Credit Loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Total	$ 1,800,023	$ 1,679,357	$ 1,800,023	$ 1,679,357	$ 1,751,459
Current period gross charge-offs
Total	0	66	0	66
Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
Total					1,732,156
OAEM
Financing Receivable, Allowance for Credit Loss [Line Items]
Total					3,027
Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
Total					16,276
Doubtful
Financing Receivable, Allowance for Credit Loss [Line Items]
Total					0
Commercial and Industrial
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	4,435		4,435
2022	2,323		2,323
2021	109		109
2020	3,442		3,442
Prior	7,550		7,550
Revolving Loans at Amortized Cost Basis	14,109		14,109
Total	31,968	29,407	31,968	29,407	32,383
Current period gross charge-offs
2023			0
2022			0
2021			0
2020			0
Prior			0
Revolving Loans at Amortized Cost Basis			0
Total	0	0	0	0
Commercial and Industrial | Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	4,435		4,435
2022	1,857		1,857
2021	109		109
2020	3,442		3,442
Prior	7,550		7,550
Revolving Loans at Amortized Cost Basis	14,109		14,109
Total	31,502		31,502		32,383
Commercial and Industrial | OAEM
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0		0
2022	0		0
2021	0		0
2020	0		0
Prior	0		0
Revolving Loans at Amortized Cost Basis	0		0
Total	0		0		0
Commercial and Industrial | Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0		0
2022	466		466
2021	0		0
2020	0		0
Prior	0		0
Revolving Loans at Amortized Cost Basis	0		0
Total	466		466		0
Commercial and Industrial | Doubtful
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0		0
2022	0		0
2021	0		0
2020	0		0
Prior	0		0
Revolving Loans at Amortized Cost Basis	0		0
Total	0		0		0
Construction
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	324		324
2022	3,338		3,338
2021	4,500		4,500
2020	193		193
Prior	0		0
Revolving Loans at Amortized Cost Basis	142,468		142,468
Total	150,823	194,111	150,823	194,111	192,357
Current period gross charge-offs
2023			0
2022			0
2021			0
2020			0
Prior			0
Revolving Loans at Amortized Cost Basis			0
Total	0	0	0	0
Construction | Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	324		324
2022	3,338		3,338
2021	4,500		4,500
2020	193		193
Prior	0		0
Revolving Loans at Amortized Cost Basis	141,377		141,377
Total	149,732		149,732		191,266
Construction | OAEM
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0		0
2022	0		0
2021	0		0
2020	0		0
Prior	0		0
Revolving Loans at Amortized Cost Basis	0		0
Total	0		0		0
Construction | Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0		0
2022	0		0
2021	0		0
2020	0		0
Prior	0		0
Revolving Loans at Amortized Cost Basis	1,091		1,091
Total	1,091		1,091		1,091
Construction | Doubtful
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0		0
2022	0		0
2021	0		0
2020	0		0
Prior	0		0
Revolving Loans at Amortized Cost Basis	0		0
Total	0		0		0
Real Estate Mortgage | Commercial – Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	19,546		19,546
2022	36,255		36,255
2021	21,678		21,678
2020	7,173		7,173
Prior	56,207		56,207
Revolving Loans at Amortized Cost Basis	2,378		2,378
Total	143,237	130,106	143,237	130,106	125,950
Current period gross charge-offs
2023			0
2022			0
2021			0
2020			0
Prior			0
Revolving Loans at Amortized Cost Basis			0
Total	0	0	0	0
Real Estate Mortgage | Commercial – Non-owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	14,572		14,572
2022	99,540		99,540
2021	41,751		41,751
2020	34,116		34,116
Prior	193,064		193,064
Revolving Loans at Amortized Cost Basis	1,179		1,179
Total	384,222	347,543	384,222	347,543	377,452
Current period gross charge-offs
2023			0
2022			0
2021			0
2020			0
Prior			0
Revolving Loans at Amortized Cost Basis			0
Total	0	0	0	0
Real Estate Mortgage | Residential – 1 to 4 Family
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	46,213		46,213
2022	118,758		118,758
2021	63,059		63,059
2020	33,701		33,701
Prior	195,472		195,472
Revolving Loans at Amortized Cost Basis	3,867		3,867
Total	461,070	432,066	461,070	432,066	444,820
Current period gross charge-offs
2023			0
2022			0
2021			0
2020			0
Prior			0
Revolving Loans at Amortized Cost Basis			0
Total	0	66	0	66
Real Estate Mortgage | Residential – 1 to 4 Family | Performing
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	46,213		46,213
2022	118,758		118,758
2021	63,059		63,059
2020	33,701		33,701
Prior	195,472		195,472
Revolving Loans at Amortized Cost Basis	3,867		3,867
Total	461,070		461,070
Real Estate Mortgage | Residential – 1 to 4 Family | Nonperforming
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0		0
2022	0		0
2021	0		0
2020	0		0
Prior	0		0
Revolving Loans at Amortized Cost Basis	0		0
Total	0		0
Real Estate Mortgage | Residential – 1 to 4 Family Investment
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	63,774		63,774
2022	141,343		141,343
2021	118,955		118,955
2020	51,438		51,438
Prior	124,566		124,566
Revolving Loans at Amortized Cost Basis	0		0
Total	500,076	460,922	500,076	460,922	476,210
Current period gross charge-offs
2023			0
2022			0
2021			0
2020			0
Prior			0
Revolving Loans at Amortized Cost Basis			0
Total	0	0	0	0
Real Estate Mortgage | Residential – 1 to 4 Family Investment | Performing
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	63,774		63,774
2022	141,343		141,343
2021	118,955		118,955
2020	51,438		51,438
Prior	124,566		124,566
Revolving Loans at Amortized Cost Basis	0		0
Total	500,076		500,076
Real Estate Mortgage | Residential – 1 to 4 Family Investment | Nonperforming
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0		0
2022	0		0
2021	0		0
2020	0		0
Prior	0		0
Revolving Loans at Amortized Cost Basis	0		0
Total	0		0
Real Estate Mortgage | Residential – Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	497		497
2022	15,670		15,670
2021	43,669		43,669
2020	12,230		12,230
Prior	50,636		50,636
Revolving Loans at Amortized Cost Basis	0		0
Total	122,702	78,162	122,702	78,162	95,556
Current period gross charge-offs
2023			0
2022			0
2021			0
2020			0
Prior			0
Revolving Loans at Amortized Cost Basis			0
Total	0	0	0	0
Real Estate Mortgage | Pass | Commercial – Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	19,546		19,546
2022	36,255		36,255
2021	21,678		21,678
2020	7,173		7,173
Prior	55,090		55,090
Revolving Loans at Amortized Cost Basis	2,378		2,378
Total	142,120		142,120		122,523
Real Estate Mortgage | Pass | Commercial – Non-owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	14,572		14,572
2022	99,540		99,540
2021	41,751		41,751
2020	34,116		34,116
Prior	175,389		175,389
Revolving Loans at Amortized Cost Basis	1,179		1,179
Total	366,547		366,547		362,899
Real Estate Mortgage | Pass | Residential – 1 to 4 Family
Financing Receivable, Allowance for Credit Loss [Line Items]
Total					444,658
Real Estate Mortgage | Pass | Residential – 1 to 4 Family Investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Total					476,210
Real Estate Mortgage | Pass | Residential – Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	497		497
2022	15,670		15,670
2021	43,669		43,669
2020	12,230		12,230
Prior	50,636		50,636
Revolving Loans at Amortized Cost Basis	0		0
Total	122,702		122,702		95,556
Real Estate Mortgage | OAEM | Commercial – Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0		0
2022	0		0
2021	0		0
2020	0		0
Prior	0		0
Revolving Loans at Amortized Cost Basis	0		0
Total	0		0		3,027
Real Estate Mortgage | OAEM | Commercial – Non-owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0		0
2022	0		0
2021	0		0
2020	0		0
Prior	0		0
Revolving Loans at Amortized Cost Basis	0		0
Total	0		0		0
Real Estate Mortgage | OAEM | Residential – 1 to 4 Family
Financing Receivable, Allowance for Credit Loss [Line Items]
Total					0
Real Estate Mortgage | OAEM | Residential – 1 to 4 Family Investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Total					0
Real Estate Mortgage | OAEM | Residential – Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0		0
2022	0		0
2021	0		0
2020	0		0
Prior	0		0
Revolving Loans at Amortized Cost Basis	0		0
Total	0		0		0
Real Estate Mortgage | Substandard | Commercial – Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0		0
2022	0		0
2021	0		0
2020	0		0
Prior	1,117		1,117
Revolving Loans at Amortized Cost Basis	0		0
Total	1,117		1,117		400
Real Estate Mortgage | Substandard | Commercial – Non-owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0		0
2022	0		0
2021	0		0
2020	0		0
Prior	17,675		17,675
Revolving Loans at Amortized Cost Basis	0		0
Total	17,675		17,675		14,553
Real Estate Mortgage | Substandard | Residential – 1 to 4 Family
Financing Receivable, Allowance for Credit Loss [Line Items]
Total					162
Real Estate Mortgage | Substandard | Residential – 1 to 4 Family Investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Total					0
Real Estate Mortgage | Substandard | Residential – Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0		0
2022	0		0
2021	0		0
2020	0		0
Prior	0		0
Revolving Loans at Amortized Cost Basis	0		0
Total	0		0		0
Real Estate Mortgage | Doubtful | Commercial – Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0		0
2022	0		0
2021	0		0
2020	0		0
Prior	0		0
Revolving Loans at Amortized Cost Basis	0		0
Total	0		0		0
Real Estate Mortgage | Doubtful | Commercial – Non-owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0		0
2022	0		0
2021	0		0
2020	0		0
Prior	0		0
Revolving Loans at Amortized Cost Basis	0		0
Total	0		0		0
Real Estate Mortgage | Doubtful | Residential – 1 to 4 Family
Financing Receivable, Allowance for Credit Loss [Line Items]
Total					0
Real Estate Mortgage | Doubtful | Residential – 1 to 4 Family Investment
Financing Receivable, Allowance for Credit Loss [Line Items]
Total					0
Real Estate Mortgage | Doubtful | Residential – Multifamily
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0		0
2022	0		0
2021	0		0
2020	0		0
Prior	0		0
Revolving Loans at Amortized Cost Basis	0		0
Total	0		0		0
Consumer
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0		0
2022	0		0
2021	0		0
2020	0		0
Prior	5,909		5,909
Revolving Loans at Amortized Cost Basis	16		16
Total	5,925	7,040	5,925	7,040	6,731
Current period gross charge-offs
2023			0
2022			0
2021			0
2020			0
Prior			0
Revolving Loans at Amortized Cost Basis			0
Total	0	$ 0	0	$ 0
Consumer | Performing
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0		0
2022	0		0
2021	0		0
2020	0		0
Prior	5,909		5,909
Revolving Loans at Amortized Cost Basis	16		16
Total	5,925		5,925
Consumer | Nonperforming
Financing Receivable, Allowance for Credit Loss [Line Items]
2023	0		0
2022	0		0
2021	0		0
2020	0		0
Prior	0		0
Revolving Loans at Amortized Cost Basis	0		0
Total	$ 0		$ 0
Consumer | Pass
Financing Receivable, Allowance for Credit Loss [Line Items]
Total					6,661
Consumer | OAEM
Financing Receivable, Allowance for Credit Loss [Line Items]
Total					0
Consumer | Substandard
Financing Receivable, Allowance for Credit Loss [Line Items]
Total					70
Consumer | Doubtful
Financing Receivable, Allowance for Credit Loss [Line Items]
Total					$ 0

LOANS AND ALLOWANCE FOR CREDI_9

LOANS AND ALLOWANCE FOR CREDIT LOSSES ON LOANS - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($) loan
Financing Receivable, Allowance for Credit Loss [Line Items]
Mortgage loans in process of foreclosure, amount | $	$ 2.8
Real Estate Mortgage | Commercial – Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of loans	2
Real Estate Mortgage | Commercial – Non-owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Number of loans	2

LOANS AND ALLOWANCE FOR CRED_10

LOANS AND ALLOWANCE FOR CREDIT LOSSES ON LOANS - Credit Quality Indicators (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	$ 1,800,023	$ 1,751,459	$ 1,679,357
Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		1,732,156
OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		3,027
Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		16,276
Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		0
Commercial and Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	31,968	32,383	29,407
Commercial and Industrial | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	31,502	32,383
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	466	0
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	150,823	192,357	194,111
Construction | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	149,732	191,266
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	1,091	1,091
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	143,237	125,950	130,106
Real Estate Mortgage | Commercial – Owner Occupied | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	142,120	122,523
Real Estate Mortgage | Commercial – Owner Occupied | OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	3,027
Real Estate Mortgage | Commercial – Owner Occupied | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	1,117	400
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	384,222	377,452	347,543
Real Estate Mortgage | Commercial – Non-owner Occupied | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	366,547	362,899
Real Estate Mortgage | Commercial – Non-owner Occupied | OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	0	0
Real Estate Mortgage | Commercial – Non-owner Occupied | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	17,675	14,553
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	461,070	444,820	432,066
Real Estate Mortgage | Residential – 1 to 4 Family | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		444,658
Real Estate Mortgage | Residential – 1 to 4 Family | OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		0
Real Estate Mortgage | Residential – 1 to 4 Family | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		162
Real Estate Mortgage | Residential – 1 to 4 Family | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		0
Real Estate Mortgage | Residential – 1 to 4 Family Investment
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	500,076	476,210	460,922
Real Estate Mortgage | Residential – 1 to 4 Family Investment | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		476,210
Real Estate Mortgage | Residential – 1 to 4 Family Investment | OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		0
Real Estate Mortgage | Residential – 1 to 4 Family Investment | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		0
Real Estate Mortgage | Residential – 1 to 4 Family Investment | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		0
Real Estate Mortgage | Residential – Multifamily
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	122,702	95,556	78,162
Real Estate Mortgage | Residential – Multifamily | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income	122,702	95,556
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	$ 5,925	6,731	$ 7,040
Consumer | Pass
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		6,661
Consumer | OAEM
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		0
Consumer | Substandard
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		70
Consumer | Doubtful
Financing Receivable, Credit Quality Indicator [Line Items]
Loans, net of unearned income		$ 0

LOANS AND ALLOWANCE FOR CRED_11

LOANS AND ALLOWANCE FOR CREDIT LOSSES ON LOANS - Loans Modified to Borrowers Experiencing Financial Difficulty (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 15,346
Term Extension
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0
More-Than-Insignificant Payment Delay
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0
Interest Rate Reduction
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0
Other
Financing Receivable, Credit Quality Indicator [Line Items]
Total	15,346
Commercial and Industrial
Financing Receivable, Credit Quality Indicator [Line Items]
Performance of loan modified last 12 months	15,346
Commercial and Industrial | Current
Financing Receivable, Credit Quality Indicator [Line Items]
Performance of loan modified last 12 months	15,346
Commercial and Industrial | 30-89 Days Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Performance of loan modified last 12 months	0
Commercial and Industrial | Greater than 90 Days Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Performance of loan modified last 12 months	0
Commercial and Industrial | Commercial – Non-owner Occupied
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 15,346
% of Total Loan Category	4%
Performance of loan modified last 12 months	$ 15,346
Commercial and Industrial | Commercial – Non-owner Occupied | Current
Financing Receivable, Credit Quality Indicator [Line Items]
Performance of loan modified last 12 months	15,346
Commercial and Industrial | Commercial – Non-owner Occupied | 30-89 Days Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Performance of loan modified last 12 months	0
Commercial and Industrial | Commercial – Non-owner Occupied | Greater than 90 Days Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Performance of loan modified last 12 months	0
Commercial and Industrial | Commercial – Non-owner Occupied | Term Extension
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0
Commercial and Industrial | Commercial – Non-owner Occupied | More-Than-Insignificant Payment Delay
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0
Commercial and Industrial | Commercial – Non-owner Occupied | Interest Rate Reduction
Financing Receivable, Credit Quality Indicator [Line Items]
Total	0
Commercial and Industrial | Commercial – Non-owner Occupied | Other
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 15,346

EARNINGS PER SHARE ("EPS") (Det

EARNINGS PER SHARE ("EPS") (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Basic earnings per common share
Net income available to the Company	$ 1,029	$ 10,540	$ 20,289	$ 31,369
Less: Dividend on series B preferred stock	(7)	(7)	(20)	(20)
Net income available to common shareholders	$ 1,022	$ 10,533	$ 20,269	$ 31,349
Basic weighted-average common shares outstanding (in shares)	11,945,844	11,919,472	11,945,144	11,913,085
Basic earnings per common share (in dollars per share)	$ 0.09	$ 0.88	$ 1.70	$ 2.63
Diluted earnings per common share
Net income available to common shares	$ 1,022	$ 10,533	$ 20,269	$ 31,349
Add: Dividend on series B preferred stock	7	7	20	20
Net income available to diluted common shares	$ 1,029	$ 10,540	$ 20,289	$ 31,369
Basic weighted-average common shares outstanding (in shares)	11,945,844	11,919,472	11,945,144	11,913,085
Dilutive potential common shares (in shares)	185,981	250,672	192,064	265,487
Diluted weighted-average common shares outstanding (in shares)	12,131,825	12,170,144	12,137,208	12,178,572
Diluted earnings per common share (in dollars per share)	$ 0.08	$ 0.87	$ 1.67	$ 2.58

FAIR VALUE - Assets and Liabili

FAIR VALUE - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 7,271	$ 9,366
Corporate debt obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities AFS		500
Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities AFS	7,271	8,866
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
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 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	7,271	9,366
Level 2 | Corporate debt obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities AFS		500
Level 2 | Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment securities AFS	7,271	8,866
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
Level 3 | Residential 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) - Nonrecurring - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans	$ 1,091	$ 1,091
OREO	1,550	1,550
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans	0	0
OREO	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans	0	0
OREO	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Collateral-dependent loans	1,091	1,091
OREO	$ 1,550	$ 1,550

FAIR VALUE - Carrying Value and

FAIR VALUE - Carrying Value and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financial Assets:
Investment securities HTM	$ 7,285	$ 7,805
Carrying Amount
Financial Assets:
Investment securities HTM	9,319	9,378
Loans, net	1,767,704	1,719,614
Financial Liabilities:
Time deposits	627,893	603,135
Borrowings	154,213	126,071
Fair Value
Financial Assets:
Investment securities HTM	7,285	7,805
Loans, net	1,732,007	1,661,974
Financial Liabilities:
Time deposits	622,510	609,097
Borrowings	158,730	127,254
Fair Value | Level 1
Financial Assets:
Investment securities HTM	0	0
Loans, net	0	0
Financial Liabilities:
Time deposits	0	0
Borrowings	0	0
Fair Value | Level 2
Financial Assets:
Investment securities HTM	7,285	7,805
Loans, net	1,710,241	1,641,444
Financial Liabilities:
Time deposits	622,510	609,097
Borrowings	158,730	127,254
Fair Value | Level 3
Financial Assets:
Investment securities HTM	0	0
Loans, net	21,766	20,530
Financial Liabilities:
Time deposits	0	0
Borrowings	$ 0	$ 0

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022	Sep. 29, 2023	Jul. 06, 2023	Sep. 30, 2022
Debt Instrument [Line Items]
Off-balance-sheet, credit exposure	$ 760,000
Deposits	1,532,981,000	$ 1,575,981,000
Loans, net of unearned income	1,800,023,000	1,751,459,000			$ 1,679,357,000
Cannabis related loan
Debt Instrument [Line Items]
Loans, net of unearned income	26,700,000	3,800,000
Cannabis Customers
Debt Instrument [Line Items]
Deposits	$ 93,900,000	$ 177,300,000
Product concentration risk | Deposits | Cannabis Customers
Debt Instrument [Line Items]
Concentration risk, percentage	6.10%	11.30%
Customer concentration risk | Medical use cannabis customers, deposit balances | Two customers
Debt Instrument [Line Items]
Concentration risk, percentage	56%	36.90%
Line of credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 10,000,000	$ 50,000,000
Line of credit, outstanding	$ 0
Commitments to extend credit
Debt Instrument [Line Items]
Off-balance sheet commitments	113,700,000	$ 159,000,000
Standby letters of credit
Debt Instrument [Line Items]
Off-balance sheet commitments	$ 1,500,000	$ 1,500,000