First Western Financial (MYFW) 10-K 12 Mar 21 2020 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Mar. 08, 2021	Jun. 30, 2020
Document And Entity Information Abstract
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	001-38595
Entity Registrant Name	First Western Financial Inc
Entity Incorporation, State or Country Code	CO
Entity Tax Identification Number	37-1442266
Entity Address, Address Line One	1900 16th Street
Entity Address, Address Line Two	Suite 1200
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80202
City Area Code	303
Local Phone Number	531.8100
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	MYFW
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Public Float			$ 89.5
Entity Common Stock, Shares Outstanding		7,957,900
Entity Central Index Key	0001327607
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Cash and cash equivalents:
Cash and due from banks	$ 2,405	$ 4,180
Interest-bearing deposits in other financial institutions	153,584	74,458
Total cash and cash equivalents	155,989	78,638
Available-for-sale securities, at fair value	36,666	58,903
Correspondent bank stock, at cost	2,552	585
Mortgage loans held for sale	161,843	48,312
Loans, net of allowance of $12,539 and $7,875	1,520,294	990,132
Premises and equipment, net	5,320	5,218
Accrued interest receivable	6,618	3,048
Accounts receivable	4,865	5,238
Other receivables	1,422	1,006
Other real estate owned, net	194	658
Goodwill and other intangible assets, net	24,258	19,714
Deferred tax assets, net	6,056	5,047
Company-owned life insurance	15,449	15,086
Other assets	32,129	16,544
Assets held for sale	0	3,553
Total assets	1,973,655	1,251,682
Deposits:
Noninterest-bearing	481,457	240,068
Interest-bearing	1,138,453	846,716
Total deposits	1,619,910	1,086,784
Borrowings:
Federal Home Loan Bank Topeka and Federal Reserve borrowings	149,563	10,000
Subordinated notes - fixed-to-floating rate	24,291	6,560
Accrued interest payable	453	299
Other liabilities	24,476	20,244
Liabilities held for sale	0	117
Total liabilities	1,818,693	1,124,004
SHAREHOLDERS' EQUITY
Preferred stock - no par value; 10,000,000 shares authorized; 0 issued and outstanding
Convertible preferred stock - no par value; 150,000 shares authorized; 0 shares issued and outstanding
Common stock - no par value; 90,000,000 shares authorized; 7,951,773 and 7,940,168 shares issued and outstanding as of December 31, 2020 and December 31, 2019, respectively
Additional paid-in capital	144,703	142,797
Retained earnings (accumulated deficit)	9,579	(14,955)
Accumulated other comprehensive income (loss)	680	(164)
Total shareholders' equity	154,962	127,678
Total liabilities and shareholders' equity	$ 1,973,655	$ 1,251,682

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Allowance for loans	$ 12,539	$ 7,875
Preferred Stock, par value (in dollars per share)	$ 0	$ 0
Preferred Stock, shares authorized	10,000,000	10,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, par value (in dollars per share)	$ 0	$ 0
Common Stock, shares authorized	90,000,000	90,000,000
Common Stock, shares issued	7,951,773	7,940,168
Common Stock, shares outstanding	7,951,773	7,940,168
Convertible Preferred Stock
Preferred Stock, par value (in dollars per share)	$ 0	$ 0
Preferred Stock, shares authorized	150,000	150,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Interest and dividend income:
Loans, including fees	$ 51,998	$ 42,045
Investment securities	878	1,274
Federal funds sold and other	458	1,732
Total interest and dividend income	53,334	45,051
Interest expense:
Deposits	5,794	12,263
Other borrowed funds	1,438	727
Total interest expense	7,232	12,990
Net interest income	46,102	32,061
Less: provision for loan losses	4,682	662
Net interest income, after provision for loan losses	41,420	31,399
Non-interest income:
Trust and investment management fees	19,022	18,935
Net gain on mortgage loans	29,276	10,585
Bank fees	1,320	1,173
Risk management and insurance fees	1,199	1,205
Income on company-owned life insurance	363	377
Net gain on sale of securities		119
Net gain on sale of assets		183
Total non-interest income	51,180	32,577
Total income before non-interest expense	92,600	63,976
Non-interest expense:
Salaries and employee benefits	34,785	31,810
Occupancy and equipment	6,009	5,562
Professional services	5,035	3,519
Technology and information systems	4,035	3,973
Data processing	4,000	3,065
Marketing	1,478	1,292
Amortization of other intangible assets	14	374
Goodwill impairment		1,572
Net loss on assets held for sale	553
Provision for other real estate owned	176
Other	3,452	2,617
Total non-interest expense	59,537	53,784
Income (loss) before income tax	33,063	10,192
Income tax expense	8,529	2,183
Net income available to common shareholders	$ 24,534	$ 8,009
Earnings per common share:
Basic	$ 3.11	$ 1.02
Diluted	$ 3.08	$ 1.01

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 24,534	$ 8,009
Other comprehensive income items, net of tax effect:
Net change in unrealized gains on available-for-sale securities	844	1,262
Reclassification adjustment for realized gains included in earnings		94
Total other comprehensive income	844	1,356
Comprehensive income	$ 25,378	$ 9,365

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (loss)	Total
Balance at Beginning at Dec. 31, 2018		$ 141,359	$ (23,199)	$ (1,285)	$ 116,875
Balance at Beginning (in shares) at Dec. 31, 2018	7,968,420
Increase (Decrease) in Stockholders' Equity
Net income			8,009		8,009
Other comprehensive income, net of tax				1,356	1,356
Net change in unrealized gains on available-for-sale securities					1,262
Settlement of share awards		(110)			(110)
Settlement of share awards (in shares)	15,446
Adoption of ASU 2018-02			235	(235)	235
Share repurchase		(743)			(743)
Share repurchase (in shares)	(43,698)
Stock-based compensation		2,291			2,291
Balance at Ending at Dec. 31, 2019		142,797	(14,955)	(164)	127,678
Balance at Ending (in shares) at Dec. 31, 2019	7,940,168
Increase (Decrease) in Stockholders' Equity
Net income			24,534		24,534
Other comprehensive income, net of tax				844	844
Net change in unrealized gains on available-for-sale securities					844
Settlement of share awards		(261)			(261)
Settlement of share awards (in shares)	34,710
Share repurchase		(377)			(377)
Share repurchase (in shares)	(23,105)
Stock-based compensation		2,544			2,544
Balance at Ending at Dec. 31, 2020		$ 144,703	$ 9,579	$ 680	$ 154,962
Balance at Ending (in shares) at Dec. 31, 2020	7,951,773

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net income	$ 24,534	$ 8,009
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	1,105	1,671
Deferred income tax benefits, net of valuation allowance	(1,300)	(1,216)
Stock-based compensation	2,544	2,291
Provision for loan losses	4,682	662
Net amortization of investment securities	442	226
Stock dividends received on correspondent bank stock	(17)	(29)
Increase in cash surrender value of company-owned life insurance	(363)	(377)
Net gain on mortgage loans	(29,276)	(10,585)
Origination of mortgage loans held for sale	(1,331,989)	(640,575)
Proceeds from mortgage loans	1,238,881	615,961
Gain on sale of securities		(119)
Gain on sale of assets	(43)	(183)
Loss on assets held for sale	553
Loss on impairment of goodwill		1,572
Provision for other real estate owned	176
Net changes in operating assets and liabilities:
Accounts receivable	355	(728)
Accrued interest receivable and other assets	(4,473)	(522)
Accrued interest payable and other liabilities	858	2,429
Net cash used in operating activities	(93,331)	(21,513)
Activity in available-for-sale securities:
Maturities, prepayments, and calls	28,639	9,598
Sales	0	7,506
Purchases	(6,000)	(31,063)
Purchases of correspondent bank stock	(1,950)	(1,286)
Redemption of correspondent bank stock		3,218
Purchases of premises and equipment	(1,205)	(415)
Proceeds from sale of premises and equipment	10
Proceeds from sale of other real estate owned	288
Net cash paid on acquisitions (Note 2)	(61,316)
Loan and note receivable originations and principal collections, net	(414,486)	(103,937)
Net cash used in investing activities	(456,020)	(116,379)
Cash flows from financing activities
Net change in deposits	470,046	149,026
Proceeds from subordinated notes	18,000
Repurchase of common stock	(377)	(743)
Settlement of restricted stock	(261)	(110)
Recognition of capitalized subordinated notes issuance costs	(269)
Payments to Federal Reserve borrowings	(69,750)
Proceeds from Federal Reserve borrowings	204,313
Payments to Federal Home Loan Bank Topeka borrowings	(30,000)	(72,346)
Proceeds from Federal Home Loan Bank Topeka borrowings	35,000	67,346
Net cash provided by financing activities	626,702	143,173
Net change in cash and cash equivalents	77,351	5,281
Cash and cash equivalents, beginning of year	78,638	73,357
Cash and cash equivalents, end of year	155,989	78,638
Supplemental cash flow information:
Interest paid on deposits and borrowed funds	7,078	12,922
Income tax payment, net of refunds received	11,763	2,476
Cash paid for amounts included in the measurement of lease liabilities	5,659	5,351
Supplemental noncash disclosures:
Reclass of held for sale assets, net of liabilities	(2,990)	3,436
Contingent asset resulting from sale of held for sale assets	3,062
Adoption of ASU 2018-02 - Reclassification of stranded tax effects		235
Change in unrealized gain on available for sale securities	1,113	1,831
Lease right-of-use-asset obtained in exchange for lease liabilities	$ 3,600	$ 16,580

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business and Basis of Presentation FWFI is a bank holding company with financial holding company status registered with the Board of Governors of the Federal Reserve System. FWFI wholly owns the following subsidiaries: First Western Trust Bank (the "Bank") Ryder, Stilwell Inc. ("RSI"), and First Western Capital Management Company ("FWCM"). The Bank wholly owns the following subsidiaries, which are therefore indirectly wholly-owned by FWFI: First Western Merger Corporation ("Merger Corp."), and RRI, LLC ("RRI"). FWCM became inactive during the current year. RSI and RRI are also not active operating entities. The Company provides a fully-integrated suite of wealth management services including private banking, personal trust, investment management, mortgage loans, and institutional asset management services to individual and corporate clients principally in Colorado (metro Denver, Aspen, Boulder, Fort Collins and Vail Valley), Arizona (Phoenix and Scottsdale), California (Century City) and Wyoming (Jackson Hole and Laramie). The Company’s revenues are generated from its full range of product offerings as noted above, but principally from net interest income (the interest income earned on the Bank’s assets net of funding costs), fee-based wealth advisory, investment management, asset management and personal trust services, and net gains earned on mortgage loans. The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") for financial information, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"), and where applicable, reporting practices prescribed for the banking and investment advisory industries. Consolidation On May 15, 2020, the Company completed a branch purchase and assumption transaction ("Branch Acquisition") with Simmons Bank ("Simmons"). Management concluded that the acquisition represented a business combination, which is accounted for using the acquisition method, with the results of operations included in the Company’s consolidated financial statements as of the acquisition date. For additional information, see Note 2. Use of Estimates ​ The Company could experience a material adverse effect on its business as a result of the impact of the COVID-19 pandemic, and the resulting governmental actions to curtail its spread. It is at least reasonably possible that information which was available at the date of the financial statements will change in the near term due to the COVID-19 pandemic and that the effect of the change would be material to the financial statements. The extent to which the COVID-19 pandemic will impact our estimates and assumptions is highly uncertain. Concentration of Credit Risk believe it has significant concentrations in any one industry or customer. As of December 31, 2020 and December 31, 2019, 66.9% and 71.7%, respectively, of the Company’s loan portfolio was secured by real estate collateral. Declines in real estate values in the primary markets the Company operates in could negatively impact the Company. Cash and Cash Equivalents Investment Securities The Company invests in projects to create affordable housing. These investments are classified as Other assets on the Consolidated Balance Sheets. Investments in affordable housing projects that qualify for low-income housing tax credits ("LIHTC") are accounted for using the proportional amortization method. Under the proportional amortization method, the initial cost of the investment is amortized in proportion to the tax credits and other benefits received and recognized as a component of applicable income tax expense in the Consolidated Statements of Income. Net purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities, without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Declines in the fair value of available-for-sale securities below their cost that are deemed to be other-than-temporary are recorded in earnings as realized losses in Non-interest income. ​ Management evaluates securities for other-than-temporary impairment ("OTTI") on a quarterly basis, or more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to loss on securities, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income (loss). The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. As of December 31, 2020 and 2019, no securities were determined to be other-than-temporarily impaired. ​ Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method. ​ Correspondent Bank Stock ​ Mortgage Loans Held for Sale ​ Loans ​ Past Due Loans Interest accrued but not collected is charged off against interest income at the time a loan is placed on non-accrual status. The interest collected on non-accrual loans is accounted for using the cost-recovery method, until qualifying for return to accrual. Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Loans can be returned to accrual status when there is a sustained period of repayment performance (usually six-months or longer) and the collectability of future payments is reasonably assured. ​ Troubled Debt Restructurings ​ The loan terms which have been modified or restructured due to a borrower’s financial difficulty, include but are not limited to (i) a reduction in the stated interest rate of the loan, (ii) an extension of the maturity date of the loan at an interest rate below market, or (iii) a reduction of the accrued interest. ​ Loan modifications granted by the Company are reviewed on a case-by-case basis to determine if they should be considered a restructured loan. COVID-19 Loan Modifications: As a result of the COVID-19 pandemic, a loan modification program was designed and implemented to assist our clients experiencing financial stress resulting from the economic impacts caused by the global pandemic. The Company was offering loan extensions, temporary payment moratoriums, and financial covenant waivers for commercial and consumer borrowers impacted by the pandemic who have a pass risk rating and have not been delinquent over 30 days on payments in the last two years, primarily for a period of 180 days or less. During 2020, the Company’s loan portfolio included 89 loans totaling $160.8 million, which participated in the Company’s COVID-19 loan modification program. As of December 31, 2020, only two loans remain in their payment deferral term, including acquired loans, in the amount of $2.1 million, representing 0.13% of total loans. ​ COVID-19 and CARES Act The CARES Act created the paycheck protection program ("PPP"), which is administered by the Small Business Administration ("SBA"). The PPP is intended to provide loans to small businesses to pay their employees, rent, mortgage interest and utilities. The loans may be forgiven conditioned upon the client providing payroll documentation evidencing their compliant use of funds and otherwise complying with the terms of the program. The Bank is an approved SBA lender and supported the community and clients by originating PPP loans during the year ended December 31, 2020. A second round of PPP funding was made available by the SBA in January 2021 and the Company is originating loans under the new round of funding. PPP loans are classified in the Cash, Securities and Other portion of the loan portfolio. See Note 5 - Loans and the Allowance for Loan Losses for further discussion on our PPP loans. The CARES Act provides banks optional, temporary relief from accounting for certain loan modifications as TDRs. The modifications must be related to the adverse effects of COVID-19, and certain other criteria are required to be met in order to apply the relief. Interagency guidance from Federal Reserve and the Federal Deposit Insurance Corporation ("FDIC") confirmed with the FASB that short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief, are not to be considered a TDR. We believe our loan modification program meets that definition and have not classified any of these modifications as a TDR as of December 31, 2020. In accordance with that guidance, the Company is recognizing interest income on all loans modified for temporary payment moratoriums. See Note 5 - Loans and the Allowance for Loan Losses for further discussion on our loan modification program. All loans modified in response to COVID-19 are classified as performing and pass rated as of December 31, 2020. These loans are included in the allowance for loan loss general reserve in accordance with ASC 450-20. Management has increased our loan level reviews and portfolio monitoring to address the changing environment. The Company continues to meet regularly with clients who could be more highly impacted by the recent COVID-19 pandemic. These are borrowers in industries we believe may be more impacted by the pandemic, for instance those loans where there may be a greater than 50% probability of a downgrade, covenant violation or 20% reduction in collateral position. Management believes the diversity of the loan portfolio is prudent and remains consistent with the credit culture and goals of the Bank. Interest accrued during the modification term on modified loans is deferred to the end of the loan term. As of December 31, 2020, no allowance for loan loss was deemed necessary on the accrued interest balances related to loan modifications. ​ The Company is a participant in the Federal Reserve’s Main Street Lending Program ("MSLP") to support lending to small and medium-sized for profit businesses and nonprofit organizations that were in sound financial condition before the onset of the COVID-19 pandemic. The Company may sell a 95% participation in a new MSLP loan to the Main Street Special Purpose Vehicle ("SPV") at par value. The Company must retain 5% of the MSLP loan until (i) it matures or (ii) neither the Main Street SPV nor a Governmental Assignee holds an interest in MSLP Loan in any capacity, whichever comes first. See Note 5 - Loans and the Allowance for Loan Losses for further discussion on our participation in the program. Allowance for Loan Losses: ​ The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and dollar volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral and prevailing economic conditions. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged off. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. ​ We are closely monitoring the changing dynamics in the economy and the client impact driven by the COVID-19 pandemic. We have intensified our portfolio management, focusing on higher impacted industries and commercial property types. The portion of our credit exposure to the highest risk industries impacted by COVID-19, such as accommodations, transportation and restaurants, is less than 3.0% of our loan portfolio. The Company has increased our loan level reviews and portfolio monitoring to address the changing environment and continues to engage in more frequent communication with these borrowers to better understand the impact on our borrower’s cash flows and respond proactively. While the length of time some of these businesses are unable to operate or operate at full capacity is unknown, it could have a significant impact on many factors that impact our borrowers and our reserve requirement. During the year ended December 31, 2020, the Company increased its allowance to account for the additional variability surrounding the loan modifications and increased economic uncertainty related to the COVID-19 pandemic. ​ A loan is considered impaired when, based on current information and events, it is probable the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. ​ TDR and non-accrual loans are separately evaluated for impairment and included in the separately identified impairment disclosures. If cash flow dependent, TDR and non-accrual loans will be measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a TDR or non-accrual loan is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For TDR and non-accrual loans that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses on loans individually identified as impaired. ​ Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting all scheduled principal and interest payments. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. ​ The allowance for loan losses is comprised of specific loan loss reserves and general loan loss reserves. The impairment of a specific loan is measured based either on (i) the present value of expected future cash flows discounted at the loan’s effective interest rate, or (ii) the fair value of the underlying collateral, less costs to sell, if the repayment is expected to be provided predominantly by the sale of the underlying collateral. Specific impairments are measured on a loan-by-loan basis if risk characteristics are unique to an individual borrower. The general loan loss reserve covers non-impaired loans and is established by evaluating the incurred loss on homogenous pools of loans, not specifically reviewed for impairment as noted above, that have common risk characteristics. The general loan loss reserve is based on historical loss experiences adjusted for nine qualitative factors on all loans in the portfolio not considered impaired. Certain factors are applied to each pool and certain factors are applied to all non-individually reviewed loans. The nine qualitative factors the Company considers are: ​ 1. Changes in relevant economic and business conditions and developments that affect the collectability of the portfolio, including the condition of various market segments. 2. Levels and trends in net charge-offs. 3. The existence and effect of any concentrations of credit and changes in the level of such concentrations. 4. Changes in the nature or volume of the loan portfolio and in the terms of loans. 5. Changes in the experience, ability, and depth of lending management and other relevant staff. 6. Changes in the volume and severity of past due loans. 7. Changes in the quality of the loan review system and associated grading changes. 8. Change in the level of overdrafts. 9. Levels and status of loans modified as a result of COVID-19. The following portfolio segments have been identified: ​ ● Cash, Securities and Other— consists of consumer and commercial purpose loans that are primarily secured by securities managed and under custody with us, cash on deposit with us or life insurance policies. In addition, loans in this portfolio are collateralized with other sources of consumer collateral and an immaterial amount of each loan may be unsecured. This segment of our portfolio is affected by a variety of local and national economic factors affecting borrowers’ employment prospects, income levels, and overall economic sentiment. PPP loans that are fully guaranteed by the SBA are classified within this line item as of December 31, 2020. ● Construction and Development—consists of loans to finance the construction of residential and non-residential properties. These loans are dependent on the strength of the industries of the related borrowers and the risks consistent with construction projects. ● 1-4 Family Residential— consists of loans and home equity lines of credit secured by 1-4 family residential properties. These loans typically enable borrowers to purchase or refinance existing homes, most of which serve as the primary residence of the owner. In addition, some borrowers secure a commercial purpose loan with owner occupied or non-owner occupied 1-4 family residential properties. Loans in this segment are dependent on the industries tied to these loans as well as the national and local economies, and local residential and commercial real estate markets. ● Commercial Real Estate (" CRE ") , Owner Occupied and Non-Owner Occupied—consists of commercial loans collateralized by real estate. These loans may be collateralized by owner occupied or non-owner occupied real estate, as well as multi-family residential real estate. These loans are dependent on the strength of the industries of the related borrowers and the success of their businesses. ● Commercial and Industrial—consists of commercial and industrial loans, including working capital lines of credit, permanent working capital term loans, business asset loans, acquisition, expansion and development loans, and other loan products, primarily in our target markets. This portfolio primarily consists of term loans and lines of credit which are dependent on the strength of the industries of the related borrowers and the success of their businesses. This category includes MSLP loans as of December 31, 2020. The reserve for unfunded commitments represents the estimate for probable loan losses inherent in unfunded commitments to extend credit. Unfunded commitments to extend credit include commercial and standby letters of credit, unused lines of credit, and unfunded loan commitments expected to be funded. The process used to determine the reserve for unfunded commitments is consistent with the process for determining the allowance for loan losses, adjusted for estimated funding probabilities. Changes to the level of the reserve for unfunded commitments are recognized through the provision for loan losses for off-balance sheet credit exposures, included in the non-interest Other expense line of the Consolidated Statements of Income. Transfers of Financial Assets Premises and Equipment software are Goodwill and Other Intangible Assets through its acquisition of financial services companies. Goodwill and other indefinite-lived intangible assets are not amortized, but are tested for impairment at the reporting unit level at least annually by applying a fair value-based test using discounted estimated future net cash flows. The Company has selected October 31 as the date to perform its annual impairment tests. Impairment exists when the carrying amount of the goodwill and other intangible assets exceeds their implied fair values. Impairment losses, if any, are recognized as a charge to non-interest expense and an adjustment to the carrying value of the goodwill or other intangible assets. Subsequent reversals of impairment charges are prohibited. Goodwill is the only intangible asset with an indefinite life on the Company’s Consolidated Balance Sheets. Other definite-lived intangible assets, including customer relationship intangibles, are amortized on a straight-line basis over periods representing the estimated remaining lives of the assets of one Accounts Receivable Other Receivables Leases Other Real Estate Owned Company-Owned Life Insurance Mortgage Banking Derivatives Stock-Based Compensation Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. The Company’s policy is to recognize forfeitures as they occur. Income Taxes The Company recognizes tax benefits from uncertain tax positions when it is more-likely-than-not, based on the technical merits of the position, the tax position will be sustained upon examination, including the resolution of any appeals or litigation. Tax benefits recognized in the consolidated financial statements from such a position are measured as the largest benefit that has a greater than fifty percent likelihood of being realized upon resolution. The Company may from time to time be assessed interest or penalties by major tax jurisdictions, although any such assessments have historically been minimal and immaterial to financial results. The Company classifies interest and penalties, if any, as a component of income tax expense. Comprehensive Income Earnings per Common Share Loan Commitments and Related Financial Instruments Loss Contingencies Deposits Borrowings Fair Value of Financial Instruments Revenue Recognition Transition of LIBOR to an Alternative Reference Rate Certain of the Company’s assets and liabilities are indexed to LIBOR, with exposure extending past December 31, 2021. The Company is currently evaluating and planning for the eventual replacement of the LIBOR benchmark interest rate, including the possibility of SOFR as the dominant replacement. In general, the transition away from LIBOR may result in increased market risk, credit risk, operational risk and business risk for the Company. The Company has developed a LIBOR transition plan, which addresses governance, risk management, legal, operational, systems and operations, fallback language, and other aspects of planning. The Company has prepared a timeline to transition from LIBOR before the end of 2021. Restrictions on Cash Reclassifications Recently adopted accounting pronouncements In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement—Changes to the Disclosure Requirements for Fair Value Measurement (Topic 820) ("ASU 2018-13"). ASU 2018-13 modifies the disclosure requirements on fair value measurements by requiring that Level 3 fair value disclosures include the range and weighted average of significant unobservable inputs used to develop those fair value measurements. For certain unobservable inputs, an entity may disclose other quantitative information in lieu of the weighted average if the entity determines that other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop Level 3 fair value measurements. ASU 2018-13 was effective for the Company on January 1, 2020 and did not have a material impact on the Company’s financial statement disclosures. In April 2020, the FASB Reference Rate Reform (Topic 848): ASU 2020-04"), ASU 2020-04 is intended to provide relief for companies preparing for discontinuation of interest rates based on LIBOR. The ASU provides optional expedients and exceptions for applying GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or other reference rates expected to be discontinued. ASU 2020-04 also provides for a one-time sale and/or transfer to available-for-sale or trading to be made for held-to-maturity debt securities that both reference an eligible reference rate and were classified as held-to-maturity before January 1, 2020. ASU 2020-04 was effective for all entities as of March 12, 2020 and through December 31, 2022. Companies can apply the ASU as of the beginning of the interim period that includes March 12, 2020 or any date thereafter. The guidance requires companies to apply the guidance prospectively to contract modifications and hedging relationships while the one-time election to sell and/or transfer debt securities classified as held-to-maturity may be made any time after March 12, 2020. ASU 2020-04 ​ Recently issued accounting pronouncements, not yet adopted In February 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments, as amended ("ASU 2016-13"). ASU 2016-13 replaces the incurred loss model with an expected loss model, which is referred to as the current expected credit loss ("CECL") model. The CECL model is applicable to the measurement of credit losses on the financial assets measured at amortized cost, including loan receivables, held-to-maturity debt securities, and reinsurance receivables. It also applies to off-balance sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in leases recognized by a lessor. For all other assets within the scope of CECL, a cumulative-effect adjustment will be recognized in retained earnings and the allowance for loan losses as of the beginning of the first reporting period in which the guidance is effective. ASU 2016-13 was set to be effective for most public companies on January 1, 2020. However, at the October 16, 2019 FASB meeting, the FASB voted unanimously to delay the effective date of CECL adoption for smaller reporting companies ("SRCs") to January 1, 2023. During the year ended December 31, 2020, the CECL committee of the Company continued to work through its implementation plan. The Company has integrated historical and current loan level data as required by CECL and is working with its third-party vendor solution to begin evaluating the methodologies available under the CECL model on its loan portfolios. The Company also continues to evaluate documentation requirements, internal control structure, relevant data sources, and system configurations. The Company has completed a successful integration of the required fields and historical data for key loan, client and collateral data within the third-party solution and has been able to run parallels of our current allowance for loan losses calculation in the software to compare to our internal calculation and reconcile known differences. The Company has started the process of selecting the methodologies to be used for each segment of its loan portfolio and started preliminarily testing to determine the impact of each methodology. Currently, we are unable to estimate the impact the adoption of this update will have on the consolidated financial statements and disclosures. However, the Company expects the impact of the adoption will be significantly influenced by the composition and characteristics of its loan portfolios along with economic conditions prevalent as of the date of adoption. The Company expects to implement the new standard beginning January 1, 2023. In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognizing an impairment charge of the amount by which the carrying amount exceeds the reporting unit’s fair value, not to exceed the total amount of goodwill allocated to that reporting unit. ASU 2017-04 was set to be effective for the Company on January 1, 2021. However, ASU 2019-10 amended the mandatory effective date for ASU 2014-07 to January 1, 2023 for SRC’s, with earlier adoption permitted. This update is not expected to have a significant impact on the financial statements and disclosures. ​

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2020
ACQUISITIONS
ACQUISITIONS	NOTE 2 – ACQUISITIONS ​ ​ On February 10, 2020, the Company entered into a branch purchase and assumption agreement with Simmons Bank, a subsidiary of Simmons First National Corporation, to acquire all of the Simmons’ Colorado locations, including three branches and one loan production office located in Denver, as well as certain deposits, loans and other assets and liabilities. The transaction closed on May 15, 2020 with an aggregate purchase price of $61.6 million, including a deposit premium of 6.06%. ​ During the third quarter 2020, the Company closed two of the branches and the loan production office Goodwill of $4.5 million was recognized in the transaction and represents expected synergies and cost savings resulting from combining the expanded footprint and expertise of the associates. ​ The following table summarizes the estimated fair values of the assets acquired and liabilities assumed in the May 15, 2020 transaction with Simmons, and reflects all adjustments made to the fair value of the opening balance sheet through December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ May 15, Fair value of consideration transferred ​ 2020 Cash consideration ​ $ 61,599 Total fair value of consideration transferred ​ ​ 61,599 ​ ​ ​ ​ Assets acquired ​ ​ ​ Cash and due from banks ​ ​ 283 Loans, net ​ ​ 119,552 Core deposit intangible (1) ​ ​ 53 Accrued income and other assets ​ ​ 382 Total assets acquired ​ ​ 120,270 ​ ​ ​ ​ Liabilities assumed ​ ​ ​ Deposits ​ ​ 63,080 Accrued expenses and other liabilities ​ 96 Total liabilities assumed ​ ​ 63,176 Net assets acquired ​ ​ 57,094 Goodwill recognized ​ $ 4,505 _____________________________________ (1) The core deposit intangible was determined to have an estimated life of 10 years . ​ The fair value of net assets acquired includes fair value adjustments to loans as of the acquisition date. The fair value adjustments were determined using discounted expected cash flows. Loans had a fair value of $119.6 million and a contractual balance of $120.6 million as of May 15, 2020. The discount on the loans acquired in this transaction due to anticipated credit loss, as well as considerations for market interest rates, totaled $1.1 million, representing 0.9% of their contractual balances. No allowance for loan losses related to acquired loans was recorded as a result of the Branch Acquisition. Loans acquired included short-term modifications made on a good faith basis by Simmons, in response to COVID-19. All of the modification were given additional review prior to the closing of the purchase and management determined that loans were performing prior to modification and were not considered impaired at purchase. There were no loans acquired that were considered to be purchased credit impaired ("PCI") loans. ​ The composition of the acquired loan portfolio as of May 15, 2020 is detailed in the table below (in thousands): ​ ​ ​ ​ ​ ​ ​ May 15, ​ 2020 Cash, Securities and Other (1) ​ $ 13,457 Construction and Development ​ 40,407 1-4 Family Residential ​ 7,252 Non-Owner Occupied CRE ​ 545 Owner Occupied CRE ​ ​ 321 Commercial and Industrial ​ ​ 58,660 Total gross loans ​ $ 120,642 _____________________________________ (1) Includes $12.9 million in PPP loans. ​ The Company incurred $0.9 million in expenses related to the acquisition during the year ended December 31, 2020. Acquisition expenses, including professional fees, are included in the Total non-interest expense line of the Consolidated Statements of Income.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	12 Months Ended
	Dec. 31, 2020
INVESTMENT SECURITIES
INVESTMENT SECURITIES	NOTE 3 - INVESTMENT SECURITIES The following presents the amortized cost and fair value of securities available-for-sale, with gross unrealized gains and losses recognized in accumulated other comprehensive income as of December 31, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair December 31, 2020 ​ Cost ​ Gains ​ Losses ​ Value Investment securities available-for-sale: ​ ​ ​ ​ U.S. Treasury debt ​ $ 250 ​ $ 4 ​ $ — ​ $ 254 Corporate bonds ​ ​ 6,000 ​ ​ 55 ​ ​ (11) ​ ​ 6,044 Government National Mortgage Association ("GNMA") mortgage-backed securities – residential ​ 23,806 ​ 798 ​ — ​ 24,604 Federal National Mortgage Association ("FNMA") mortgage-backed securities – residential ​ ​ 1,616 ​ ​ 61 ​ ​ — ​ ​ 1,677 Corporate collateralized mortgage obligations ("CMO") and mortgage-backed securities ("MBS") ​ 4,078 ​ 62 ​ (53) ​ 4,087 Total securities available-for-sale ​ $ 35,750 ​ $ 980 ​ $ (64) ​ $ 36,666 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair December 31, 2019 ​ Cost ​ Gains ​ Losses ​ Value Investment securities available-for-sale: ​ ​ ​ ​ U.S. Treasury debt ​ $ 250 ​ $ 4 ​ $ — ​ $ 254 GNMA mortgage-backed securities – residential ​ 45,490 ​ 157 ​ (335) ​ 45,312 FNMA mortgage-backed securities – residential ​ ​ 2,935 ​ 11 ​ (29) ​ ​ 2,917 CMO and MBS ​ 10,425 ​ 40 ​ (45) ​ 10,420 Total securities available-for-sale ​ $ 59,100 ​ $ 212 ​ $ (409) ​ $ 58,903 ​ Net amortization of premiums and discounts related to mortgage securities during each of the years ended December 31, 2020 and 2019 was $0.4 million and $0.2 million, respectively, and is included in net interest income. As of December 31, 2020, the amortized cost and estimated fair value of available-for-sale securities have contractual maturity dates shown in the table below (in thousands). Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date are shown separately. ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized Fair December 31, 2020 ​ Cost ​ Value Due within one year ​ $ 250 ​ $ 254 Due between one year and five years ​ ​ 1,250 ​ ​ 1,245 Due between five years and ten years ​ ​ 4,750 ​ ​ 4,799 Securities (agency, CMO, and MBS) ​ 29,500 ​ 30,368 Total ​ $ 35,750 ​ $ 36,666 ​ In 2014, the Company began investing in a small business investment company ("SBIC") fund administered by the Small Business Administration. During the years ended 2020 and 2019, the Company invested $0.5 million and $0.4 million, respectively, in SBIC. As of December 31, 2020 and 2019, the Company held a balance of $2.1 million and $1.6 million, respectively, with SBIC, which is included in Other assets in the accompanying Consolidated Balance Sheets. The Company may be obligated to invest up to an additional $0.9 million in future SBIC investments. As of December 31, 2020 and December 31, 2019, securities with carrying values totaling $3.7 million and $5.5 million, respectively, were pledged to secure various public deposits and credit facilities of the Company. As of December 31, 2020 and December 31, 2019, there were no holdings of securities of any one issuer, other than the U.S. Government sponsored entities and agencies, in an amount greater than 10% of shareholders’ equity. As of December 31, 2020 and December 31, 2019, seven securities and twenty-six securities were in an unrealized loss position, with unrealized losses totaling $0.1 million and $0.4 million, respectively. Two of the securities in an unrealized loss position as of December 31, 2020 have been in a continuous unrealized loss position for more than twelve months, and the remaining have been in a continuous unrealized loss position for less than twelve months. The unrealized loss positions were caused primarily by interest rate changes and market assumptions about prepayments of principal and interest on the underlying mortgages. Because the decline in market value is attributable to market conditions, not credit quality, and because the Company has the ability and intent to hold these investments until a recovery of fair value, which may be near or at maturity, the Company does not consider these investments to be other-than-temporarily impaired as of December 31, 2020. The following table summarizes securities with unrealized losses as of December 31, 2020 and December 31, 2019, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands, before tax): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months 12 Months or Longer Total ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized December 31, 2020 ​ Value ​ Losses ​ Value ​ Losses ​ Value Losses Corporate bonds ​ ​ 3,489 ​ ​ (11) ​ ​ — ​ ​ — ​ ​ 3,489 ​ (11) Corporate CMO and MBS ​ 880 ​ (40) ​ 566 ​ (13) ​ 1,446 ​ (53) Total ​ $ 4,369 ​ $ (51) ​ $ 566 ​ $ (13) ​ $ 4,935 ​ $ (64) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months 12 Months or Longer Total ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized December 31, 2019 Value ​ Losses ​ Value ​ Losses Value Losses GNMA mortgage-backed securities - residential ​ $ 28,203 ​ $ (193) ​ $ 4,450 ​ $ (142) ​ $ 32,653 ​ $ (335) FNMA mortgage-backed securities - residential ​ ​ — ​ ​ — ​ ​ 2,347 ​ ​ (29) ​ ​ 2,347 ​ ​ (29) Corporate CMO and MBS ​ 7,780 ​ (45) ​ — ​ — ​ 7,780 ​ (45) Total ​ $ 35,983 ​ $ (238) ​ $ 6,797 ​ $ (171) ​ $ 42,780 ​ $ (409) ​ The Company did not

CORRESPONDENT BANK STOCK

CORRESPONDENT BANK STOCK	12 Months Ended
	Dec. 31, 2020
CORRESPONDENT BANK STOCK
CORRESPONDENT BANK STOCK	NOTE 4 – CORRESPONDENT BANK STOCK The following presents the Company’s investments in correspondent bank stock, as of the dates noted (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2020 ​ 2019 FHLB ​ $ 2,522 ​ $ 559 BBW ​ 30 ​ 26 Total ​ $ 2,552 ​ $ 585 ​

LOANS AND THE ALLOWANCE FOR LOA

LOANS AND THE ALLOWANCE FOR LOAN LOSSES	12 Months Ended
	Dec. 31, 2020
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
LOANS AND THE ALLOWANCE FOR LOAN LOSSES	NOTE 5 - LOANS AND THE ALLOWANCE FOR LOAN LOSSES The following presents a summary of the Company’s loans as of the dates noted (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2020 2019 Cash, Securities and Other (1) ​ $ 357,020 ​ $ 146,701 Construction and Development ​ 131,111 ​ 28,120 1-4 Family Residential ​ 455,038 ​ 400,134 Non-Owner Occupied CRE ​ 281,943 ​ 165,179 Owner Occupied CRE ​ ​ 163,042 ​ ​ 127,968 Commercial and Industrial (2) ​ ​ 146,031 ​ ​ 128,457 Total loans held for investment ​ 1,534,185 ​ 996,559 Deferred costs (fees) and unamortized premiums/(unaccreted discounts), net ​ (1,352) ​ 1,448 Allowance for loan losses ​ (12,539) ​ (7,875) Loans, net ​ $ 1,520,294 ​ $ 990,132 ______________________________________ (1) (2) ​ As of December 31, 2020, total loans held for investment include $127.2 million of performing loans purchased as part of the Branch Acquisition. See Note 2 – Acquisitions for more information. The CARES Act created the PPP, which is administered by the SBA. The PPP is intended to provide loans to small businesses to pay their employees, rent, mortgage interest and utilities. The loans may be forgiven conditioned upon the client providing payroll documentation evidencing their compliant use of funds and otherwise complying with the terms of the program. The Bank is an approved SBA lender and as of December 31, 2020, the Cash, Securities and Other portion of the loan portfolio included $142.9 million of PPP loans, or 40.0% of the total category. The Company is a participant in the Federal Reserve’s MSLP to support lending to small and medium-sized for profit businesses and nonprofit organizations that were in sound financial condition before the onset of the COVID-19 pandemic. As of December 31, 2020, the Company’s Commercial and Industrial loans included six MSLP loan with the net carrying amount of $6.6 million, or 4.5% of the total category. Loan Modifications As a result of the COVID-19 pandemic, a loan modification program was designed and implemented to assist our clients experiencing financial stress resulting from the economic impacts caused by the global pandemic. The Company offered loan extensions, temporary payment moratoriums, and financial covenant waivers for commercial and consumer borrowers impacted by the pandemic who have a pass risk rating and have not been delinquent over 30 days on payments in the last two years. During 2020, the Company’s loan portfolio included 89 loans which were modified during the year, totaling $160.8 million. Two of these loans were still in their deferral period as of December 31, 2020 in the amount of $2.1 million. The following presents loans in their deferral period under the Company’s COVID-19 loan modification program as of December 31, 2020 (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Loans ​ # of Loans Modified ​ Outstanding Balance of Modified Loans ​ % of Total Loan Balance Modified ​ Cash, Securities and Other ​ $ 357,020 ​ ​ — ​ $ — ​ ​ — % Construction and Development ​ 131,111 ​ ​ — ​ ​ — ​ ​ — ​ 1-4 Family Residential ​ 455,038 ​ ​ 1 ​ ​ 346 ​ ​ 0.02 ​ Non-Owner Occupied CRE ​ ​ 281,943 ​ ​ — ​ ​ — ​ ​ — ​ Owner Occupied CRE ​ ​ 163,042 ​ ​ 1 ​ ​ 1,716 ​ ​ 0.11 ​ Commercial and Industrial ​ 146,031 ​ ​ — ​ ​ — ​ ​ — ​ Total Loans ​ $ 1,534,185 ​ ​ 2 ​ $ 2,062 ​ ​ 0.13 % ​ The CARES Act provides banks optional, temporary relief from accounting for certain loan modifications as a TDR. The modifications must be related to the adverse effects of COVID-19, and certain other criteria are required to be met in order to apply the relief. Interagency guidance from Federal Reserve and the FDIC confirmed with the FASB that short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief, are not to be considered TDRs. We believe our loan modification program meets that definition. In accordance with that guidance, the Company is recognizing interest income on all loans modified for temporary payment moratoriums, primarily for a period of 180 days or less. All loans modified in response to COVID-19 are classified as performing and pass rated as of December 31, 2020. These loans are included in the allowance for loan loss general reserve in accordance with ASC 450-20. Management has increased our loan level reviews and portfolio monitoring to address the changing environment. The Company continues to meet regularly with clients who could be more highly impacted by the recent COVID-19 pandemic. These are borrowers in accommodations, transportation and restaurant industries, which we believe may be more impacted by the pandemic, and those loans where there may be a greater than 50% probability of a downgrade, covenant violation or 20% reduction in collateral position. The portion of our credit exposure to the highest risk industries impacted by COVID-19, such as accommodations, transportation and restaurants, is less than 3.0% of our loan portfolio. Management believes the diversity of the loan portfolio is prudent and remains consistent with the credit culture and goals of the Bank. Interest accrued during the modification term on modified loans is deferred to the end of the loan term. As of December 31, 2020, no allowance for loan loss was deemed necessary on the accrued interest balances related to loan modifications. The following presents, by class, an aging analysis of the recorded investments (excluding accrued interest receivable, deferred costs (fees), and unamortized premiums/ (unaccreted discounts) which are not material) in loans past due as of December 31, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30-59 60-89 90 or Total ​ ​ Total ​ ​ Days ​ Days ​ More Days ​ Loans ​ ​ ​ ​ Recorded December 31, 2020 ​ Past Due ​ Past Due ​ Past Due ​ Past Due ​ Current ​ Investment Cash, Securities and Other ​ $ 752 ​ $ — ​ $ 48 ​ $ 800 ​ $ 356,220 ​ $ 357,020 Construction and Development ​ — ​ ​ — ​ ​ — ​ — ​ 131,111 ​ 131,111 1-4 Family Residential ​ 1,283 ​ ​ — ​ ​ — ​ 1,283 ​ 453,755 ​ 455,038 Non-Owner Occupied CRE ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 281,943 ​ ​ 281,943 Owner Occupied CRE ​ ​ 479 ​ ​ — ​ ​ — ​ ​ 479 ​ ​ 162,563 ​ ​ 163,042 Commercial and Industrial ​ 271 ​ ​ — ​ ​ 3,529 ​ 3,800 ​ 142,231 ​ 146,031 Total ​ $ 2,785 ​ $ — ​ $ 3,577 ​ $ 6,362 ​ $ 1,527,823 ​ $ 1,534,185 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30-59 60-89 90 or Total ​ ​ Total ​ ​ Days ​ Days ​ More Days ​ Loans ​ ​ ​ ​ Recorded December 31, 2019 ​ Past Due ​ Past Due ​ Past Due ​ Past Due ​ Current ​ Investment Cash, Securities and Other ​ $ 525 ​ $ — ​ $ — ​ $ 525 ​ $ 146,176 ​ $ 146,701 Construction and Development ​ — ​ — ​ — ​ — ​ 28,120 ​ 28,120 1-4 Family Residential ​ 5,688 ​ — ​ — ​ 5,688 ​ 394,446 ​ 400,134 Non-Owner Occupied CRE ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 165,179 ​ ​ 165,179 Owner Occupied CRE ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 127,968 ​ ​ 127,968 Commercial and Industrial ​ — ​ 3,110 ​ 907 ​ 4,017 ​ 124,440 ​ 128,457 Total ​ $ 6,213 ​ $ 3,110 ​ $ 907 ​ $ 10,230 ​ $ 986,329 ​ $ 996,559 ​ As of December 31, 2020 and December 31, 2019, the Company did not have any loans which were more than 90 days delinquent and accruing interest. Non-Accrual Loans and Troubled Debt Restructurings The following presents the recorded investment in non-accrual loans by class as of the dates noted (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2020 2019 Cash, Securities and Other ​ $ 50 ​ $ 2,803 Owner Occupied CRE ​ ​ 479 ​ ​ — Commercial and Industrial ​ 3,529 ​ 4,412 Total ​ $ 4,058 ​ $ 7,215 ​ Non-accrual loans classified as TDR accounted for $3.6 million of the recorded investment as of December 31, 2020 and $7.2 million as of December 31, 2019, respectively. Non-accrual loans are classified as impaired loans and individually evaluated for impairment. The following presents a summary of the unpaid principal balance of loans classified as TDRs as of the dates noted (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2020 2019 Accruing ​ ​ ​ ​ ​ ​ Commercial and Industrial ​ $ — ​ $ 5,055 Non-accrual ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ ​ 48 ​ ​ 2,803 Commercial and Industrial ​ ​ 3,529 ​ ​ 4,412 Total ​ ​ 3,577 ​ ​ 12,270 Allowance for loan losses associated with TDR ​ (1,619) ​ (833) Net recorded investment ​ $ 1,958 ​ $ 11,437 ​ As of December 31, 2019, the Company extended additional principal allowed under the commitment to a Commercial and Industrial borrower for operational needs, subsequent to the loan being classified as a TDR, in the amount of $0.2 million. This loan was fully paid off as of December 31, 2020. The Company modified one loan into a TDR during the year ended December 31, 2020. The Borrower was having difficulty making payments in accordance with the original contract terms. The Company restructured the loan including receiving a large paydown and extended the maturity and lowered the interest rate as a result of the Borrower’s financial difficulties. The loan paid off in full as of December 31, 2020. The Company modified one borrower relationship with two loans into a TDR for the year ended December 31, 2019. The borrower, who has loans that are classified as Commercial and Industrial, was not making payments in accordance with the original contract terms. The modification included an extension of the maturity date that the Company would not have otherwise considered as a result of the Borrower’s financial difficulties. The extension of maturity was for a period of approximately nine months. These two loans are currently on non-accrual and the borrower was not making payments as agreed for the year ended December 31, 2020. TDRs are reviewed individually for impairment and are included in the Company’s specific reserves in the allowance for loan losses. If charged off, the amount of the charge off is included in the Company’s charge off factors, which impact the Company’s reserves on non-impaired loans. The following table presents impaired loans by portfolio and related valuation allowance as of the periods presented (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ December 31, 2019 ​ ​ ​ Unpaid Allowance ​ ​ ​ Unpaid Allowance ​ ​ Total ​ Contractual ​ for ​ Total ​ Contractual ​ for ​ ​ Recorded ​ Principal ​ Loan ​ Recorded ​ Principal ​ Loan ​ ​ Investment ​ Balance ​ Losses ​ Investment ​ Balance ​ Losses Impaired loans with a valuation allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 2 ​ $ 2 ​ $ 2 ​ $ — ​ $ — ​ $ — Commercial and Industrial ​ ​ 3,419 ​ ​ 3,419 ​ ​ 1,619 ​ ​ 4,412 ​ ​ 4,412 ​ ​ 833 Total ​ $ 3,421 ​ $ 3,421 ​ $ 1,621 ​ $ 4,412 ​ $ 4,412 ​ $ 833 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans with no related valuation allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 48 ​ $ 48 ​ $ — ​ $ 2,803 ​ $ 2,803 ​ $ — Owner Occupied CRE ​ ​ 479 ​ ​ 479 ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial and Industrial ​ ​ 110 ​ ​ 110 ​ ​ — ​ ​ 5,055 ​ ​ 5,055 ​ ​ — Total ​ $ 637 ​ $ 637 ​ $ — ​ $ 7,858 ​ $ 7,858 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total impaired loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 50 ​ $ 50 ​ $ 2 ​ $ 2,803 ​ $ 2,803 ​ $ — Owner Occupied CRE ​ ​ 479 ​ ​ 479 ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial and Industrial ​ ​ 3,529 ​ ​ 3,529 ​ ​ 1,619 ​ ​ 9,467 ​ ​ 9,467 ​ ​ 833 Total ​ $ 4,058 ​ $ 4,058 ​ $ 1,621 ​ $ 12,270 ​ $ 12,270 ​ $ 833 ​ The recorded investment in loans in the previous tables excludes accrued interest, deferred costs (fees) and unamortized premiums/ (unaccreted discounts) which are not material. Interest income, if any, was recognized on the cash basis on non-accrual loans. The average balance of impaired loans and interest income recognized on impaired loans during the years ended December 31, 2020 and 2019 are included in the table below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2020 ​ 2019 ​ ​ Average ​ Interest ​ Average ​ Interest ​ ​ Recorded ​ Income ​ Recorded ​ Income ​ ​ Investment ​ Recognized ​ Investment ​ Recognized Impaired loans with a valuation allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 1 ​ $ — ​ $ — ​ $ — Commercial and Industrial ​ ​ 3,453 ​ ​ — ​ ​ 1,686 ​ ​ — Total ​ $ 3,454 ​ $ — ​ $ 1,686 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans with no related valuation allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 1,180 ​ $ — ​ $ 6,217 ​ $ — Owner Occupied CRE ​ ​ 96 ​ ​ — ​ ​ — ​ ​ — Commercial and Industrial ​ ​ 4,893 ​ ​ 336 ​ ​ 4,499 ​ ​ 427 Total ​ $ 6,169 ​ $ 336 ​ $ 10,716 ​ $ 427 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total impaired loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 1,181 ​ $ — ​ $ 6,217 ​ $ — Owner Occupied CRE ​ ​ 96 ​ ​ — ​ ​ — ​ ​ — Commercial and Industrial ​ ​ 8,346 ​ ​ 336 ​ ​ 6,185 ​ ​ 427 Total ​ $ 9,623 ​ $ 336 ​ $ 12,402 ​ $ 427 ​ Allowance for Loan Losses Allocation of a portion of the allowance for loan losses to one category of loans does not preclude its availability to absorb losses in other categories. The following presents the activity in the Company’s allowance for loan losses by portfolio class for the periods presented (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, ​ Construction ​ 1-4 ​ Non-Owner ​ Owner ​ Commercial ​ ​ ​ ​ Securities ​ and ​ Family ​ Occupied ​ Occupied ​ and ​ ​ ​ and Other ​ Development ​ Residential ​ CRE ​ CRE ​ Industrial ​ Total Changes in allowance for loan losses for the year ended December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 1,058 ​ $ 200 ​ $ 2,850 ​ $ 1,176 ​ $ 911 ​ $ 1,680 ​ $ 7,875 Provision for loan losses ​ 1,539 ​ 732 ​ 383 ​ 828 ​ 248 ​ 952 ​ 4,682 Charge-offs ​ (31) ​ — ​ — ​ — ​ — ​ — ​ (31) Recoveries ​ 13 ​ — ​ — ​ — ​ — ​ — ​ 13 Ending balance ​ $ 2,579 ​ $ 932 ​ $ 3,233 ​ $ 2,004 ​ $ 1,159 ​ $ 2,632 ​ $ 12,539 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses as of December 31, 2020 allocated to loans evaluated for impairment: ​ ​ ​ ​ ​ ​ ​ Individually ​ $ 2 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,619 ​ $ 1,621 Collectively ​ 2,577 ​ 932 ​ 3,233 ​ 2,004 ​ 1,159 ​ 1,013 ​ 10,918 Ending balance ​ $ 2,579 ​ $ 932 ​ $ 3,233 ​ $ 2,004 ​ $ 1,159 ​ $ 2,632 ​ $ 12,539 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans as of December 31, 2020, evaluated for impairment: ​ ​ ​ ​ ​ ​ ​ Individually ​ $ 50 ​ $ — ​ $ — ​ $ 479 ​ $ — ​ $ 3,529 ​ $ 4,058 Collectively ​ 356,970 ​ 131,111 ​ 455,038 ​ 281,464 ​ 163,042 ​ 142,502 ​ 1,530,127 Ending balance ​ $ 357,020 ​ $ 131,111 ​ $ 455,038 ​ $ 281,943 ​ $ 163,042 ​ $ 146,031 ​ $ 1,534,185 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, ​ Construction ​ 1-4 ​ Non-Owner ​ Owner ​ Commercial ​ ​ ​ ​ Securities ​ and ​ Family ​ Occupied ​ Occupied ​ and ​ ​ ​ and Other ​ Development ​ Residential ​ CRE ​ CRE ​ Industrial ​ Total Changes in allowance for loan losses for the year ended December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 764 ​ $ 232 ​ $ 2,552 ​ $ 1,264 ​ $ 789 ​ $ 1,850 ​ $ 7,451 Provision for (recovery of) loan losses ​ 532 ​ (32) ​ 298 ​ (88) ​ 122 ​ (170) ​ 662 Charge-offs ​ (248) ​ — ​ — ​ — ​ — ​ — ​ (248) Recoveries ​ 10 ​ — ​ — ​ — ​ — ​ — ​ 10 Ending balance ​ $ 1,058 ​ $ 200 ​ $ 2,850 ​ $ 1,176 ​ $ 911 ​ $ 1,680 ​ $ 7,875 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses as of December 31, 2019 allocated to loans evaluated for impairment: ​ ​ ​ ​ ​ ​ ​ Individually ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 833 ​ $ 833 Collectively ​ 1,058 ​ 200 ​ 2,850 ​ 1,176 ​ 911 ​ 847 ​ 7,042 Ending balance ​ $ 1,058 ​ $ 200 ​ $ 2,850 ​ $ 1,176 ​ $ 911 ​ $ 1,680 ​ $ 7,875 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans as of December 31, 2019, evaluated for impairment: ​ ​ ​ ​ ​ ​ ​ Individually ​ $ 2,803 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 9,467 ​ $ 12,270 Collectively ​ 143,898 ​ 28,120 ​ 400,134 ​ 165,179 ​ 127,968 ​ 118,990 ​ 984,289 Ending balance ​ $ 146,701 ​ $ 28,120 ​ $ 400,134 ​ $ 165,179 ​ $ 127,968 ​ $ 128,457 ​ $ 996,559 ​ The Company categorizes loans into risk categories based on relevant information about the ability of the borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans by credit risk on a quarterly basis. The Company uses the following definitions for risk ratings: Special Mention—Loans classified as special mention have a potential weakness or borrowing relationships that require more than the usual amount of management attention. Adverse industry conditions, deteriorating financial conditions, declining trends, management problems, documentation deficiencies or other similar weaknesses may be evident. Ability to meet current payment schedules may be questionable, even though interest and principal are still being paid as agreed. The asset has potential weaknesses that may result in deteriorating repayment prospects if left uncorrected. Loans in this risk grade are not considered adversely classified. Substandard—Substandard loans are considered "classified" and are inadequately protected by the current net worth and paying capacity of the obligor or by the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardizes the liquidation of the debt. They are characterized by the distinct possibility that the bank will sustain some loss if the deficiencies are not corrected. Loans in this category may be placed on non-accrual status and may individually be evaluated for impairment if indicators of impairment exist. Doubtful—Loans graded Doubtful are considered "classified" and have all the weaknesses inherent in those classified as Substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently known facts, conditions and values, highly questionable and improbable. However, the amount of certainty of eventual loss is not known because of specific pending factors. Loans not meeting any of the three criteria above are considered to be pass-rated loans. The following presents, by class and by credit quality indicator, the recorded investment in the Company’s loans as of December 31, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ December 31, 2020 Pass Mention Substandard ​ Total Cash, Securities and Other ​ $ 356,970 ​ $ — ​ $ 50 ​ $ 357,020 Construction and Development ​ 131,111 ​ — ​ — ​ 131,111 1-4 Family Residential ​ ​ 451,918 ​ ​ — ​ ​ 3,120 ​ ​ 455,038 Non-Owner Occupied CRE ​ ​ 275,627 ​ ​ 6,316 ​ ​ — ​ ​ 281,943 Owner Occupied CRE ​ ​ 161,850 ​ ​ — ​ ​ 1,192 ​ ​ 163,042 Commercial and Industrial ​ 140,432 ​ — ​ 5,599 ​ 146,031 Total ​ $ 1,517,908 ​ $ 6,316 ​ $ 9,961 ​ $ 1,534,185 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ December 31, 2019 Pass Mention Substandard ​ Total Cash, Securities and Other ​ $ 143,898 ​ $ — ​ $ 2,803 ​ $ 146,701 Construction and Development ​ ​ 28,120 ​ — ​ — ​ ​ 28,120 1-4 Family Residential ​ ​ 395,224 ​ ​ — ​ ​ 4,910 ​ ​ 400,134 Non-Owner Occupied CRE ​ ​ 164,021 ​ ​ 1,158 ​ ​ — ​ ​ 165,179 Owner Occupied CRE ​ 127,968 ​ ​ — ​ ​ — ​ 127,968 Commercial and Industrial ​ 114,241 ​ — ​ 14,216 ​ 128,457 Total ​ $ 973,472 ​ $ 1,158 ​ $ 21,929 ​ $ 996,559 ​ ​ The Company had no loans graded doubtful as of the years ended December 31, 2020 and 2019.

PREMISES AND EQUIPMENT, NET

PREMISES AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2020
PREMISES AND EQUIPMENT, NET
PREMISES AND EQUIPMENT, NET	Click or tap here to enter text.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2020
GOODWILL AND OTHER INTANGIBLE ASSETS
GOODWILL AND OTHER INTANGIBLE ASSETS	NOTE 7 – GOODWILL AND OTHER INTANGIBLE ASSETS Changes in the carrying amount of goodwill were as follows as of December 31 (in thousands): ​ ​ ​ ​ ​ ​ ​ 2020 ​ 2019 Beginning balance $ 19,686 ​ $ 24,811 Impairment (1) ​ — ​ ​ (1,572) Reclass to held for sale (1) ​ — ​ ​ (3,553) Acquisition activity ​ 4,505 ​ ​ — Ending balance $ 24,191 ​ $ 19,686 ______________________________________ (1) During the year ended December 31, 2020, the Company recorded $4.5 million of goodwill as a result of the Branch Acquisition on May 15, 2020. For additional information on goodwill and other intangible related to the acquisition, see Note 2 – Acquisitions. In 2019, an interim goodwill analysis resulted in the recognition of a goodwill impairment loss of $1.6 million. Additionally, the goodwill associated with Capital Management segment assets was allocated based on the relative fair value, and $3.6 million was reclassified to assets held for sale in 2019. The sale of these assets was completed on November 13, 2020. For changes related to the portion of goodwill reclassified to assets held for sale between segments, see Note 18 – Intangible Assets and Other Liabilities Classified as Held for Sale and Note 19 – Segment Reporting. Goodwill is tested annually for impairment on October 31 or earlier upon the occurrence of certain events. The Company identified a triggering event as a result of the economic impact of COVID-19 as of September 30, 2020 and performed a Step 1 quantitative analysis. Step 1 of the two-step goodwill impairment analysis includes the determination of the carrying value of the reporting unit, including the existing goodwill, and estimating the fair value of the reporting unit. If the carrying amount of a reporting unit exceeds its fair value, we are not required to perform the second step to the impairment test. Our Step 1 goodwill impairment analysis as of September 30, 2020 and October 31, 2020 both indicated that the Step 2 analysis was unnecessary. As of December 31, 2020, the Company’s reporting units had positive equity and the Company elected to perform a qualitative assessment to determine if it was more likely than not that the fair value of the reporting unit exceeded its carrying value including goodwill. The qualitative assessment indicated that it was not more likely than not that the carrying value of the reporting unit exceeded its fair value. Therefore, the Company did not complete the two-step impairment test. ​ The following presents the Company’s intangible assets and related accumulated amortization as of December 31 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Other intangibles ​ $ 4,593 ​ $ 4,540 Less: accumulated amortization on other intangibles ​ (4,526) ​ (4,512) Other intangible assets, net ​ $ 67 ​ $ 28 ​ During the year ended December 31, 2019, the Company retired intangible assets in the amount of $4.8 million that were fully amortized and no longer in service. ​ Amortization expense on definite-lived customer relationship and non-compete intangible assets was immaterial for the year ended December 31, 2020 and $0.4 million for the year ended December 31,2019. The following presents the expected amortization expense on definite-lived intangible assets existing as of December 31, 2020 (in thousands): ​ ​ ​ ​ ​ Year ​ ​ Expense 2021 ​ $ 17 Thereafter ​ ​ 50 Total ​ $ 67 ​

LEASES

LEASES	12 Months Ended
	Dec. 31, 2020
LEASES
LEASES	NOTE 8 - LEASES Leases in which the Company is determined to be the lessee are primarily operating leases comprised of real estate property and office space for our corporate headquarters and profit centers with terms that extend to 2032. Certain properties contain portions that are subleased with terms that ended in 2020 that were related to the Capital Management segment. In accordance with ASC 842, operating leases are required to be recognized as a right-of-use asset with a corresponding lease liability. The following table presents the classification of the right-of-use asset and corresponding liability within the Consolidated Balance Sheets. The Company elected to not include short-term leases with initial terms of twelve months or less, on the Consolidated Balance Sheets (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ ​ 2020 ​ 2019 Lease Right-of-Use Assets Classification ​ ​ ​ ​ ​ ​ Operating lease right-of-use assets Other assets ​ $ 11,341 ​ $ 10,308 ​ ​ ​ ​ ​ ​ ​ ​ Lease Liabilities Classification ​ ​ ​ ​ ​ ​ Operating lease liabilities Other liabilities ​ $ 13,970 ​ $ 13,480 ​ The Company’s operating lease agreements typically include an option to renew the lease at the Company’s discretion. To the extent the Company is reasonably certain it will exercise the renewal option at the inception of the lease, the Company will include the extended term in the calculation of the right-of-use asset and lease liability. ASC 842 requires the use of the rate implicit in the lease when it is readily determinable. As this rate is typically not readily determinable, at the inception of the lease, the Company uses its collateralized incremental borrowing rate over a similar term. The amount of the right-of-use asset and lease liability are impacted by the discount rate used to calculate the present value of the minimum lease payments over the term of the lease. ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2020 ​ 2019 Weighted-Average Remaining Lease Term ​ ​ ​ ​ ​ Operating leases 4.79 years ​ 4.91 years ​ ​ ​ ​ ​ ​ Weighted-Average Discount Rate ​ ​ ​ ​ ​ Operating leases 3.04 % ​ 3.71 % ​ The Company’s operating leases contain fixed and variable lease components and it has elected to account for all classes of underlying assets as a single lease component. Variable lease costs primarily represent common area maintenance and parking. The Company recognized lease costs in Occupancy and equipment expense in the accompanying Consolidated Statements of Income. The following table represents the Company’s net lease costs (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 ​ 2019 Lease Costs ​ ​ ​ ​ ​ Operating lease cost $ 3,162 ​ $ 3,186 Variable lease cost ​ 1,894 ​ ​ 1,513 Sublease income ​ (232) ​ ​ (397) Lease costs, net $ 4,824 ​ $ 4,302 ​ The following table presents a maturity analysis of the Company’s operating lease liabilities on an annual basis for each of the next five years and total amounts thereafter as of December 31, 2020. ​ ​ ​ ​ ​ Year Ended December 31, ​ Operating Leases 2021 ​ $ 3,323 2022 ​ 3,239 2023 ​ ​ 2,937 2024 ​ 2,785 2025 ​ 1,783 Thereafter ​ 867 Total future minimum lease payments ​ $ 14,934 Less: imputed interest ​ ​ (964) Present value of net future minimum lease payments ​ $ 13,970 ​

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2020
DEPOSITS
DEPOSITS	NOTE 9 - DEPOSITS The following presents the Company’s interest bearing deposits as of December 31, 2020 and 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2020 2019 Money market deposit accounts ​ $ 847,430 ​ $ 615,575 Time deposits ​ 172,682 ​ 134,913 Negotiable order of withdrawal accounts ​ 113,052 ​ 91,921 Savings accounts ​ 5,289 ​ 4,307 Total interest-bearing deposits ​ $ 1,138,453 ​ $ 846,716 Aggregate time deposits of $250,000 or greater ​ $ 73,401 ​ $ 61,596 ​ Deposits acquired through acquisitions during the year ended 2020 totaled $63.1 million. See Note 2 – Acquisitions for more information. Overdraft balances classified as loans totaled $0.1 million and an immaterial amount as of December 31, 2020 and 2019, respectively. The following presents the scheduled maturities of all time deposits for the next five years ending December 31 (in thousands): ​ ​ ​ ​ ​ Year Ending December 31, ​ Time Deposits 2021 ​ $ 125,238 2022 ​ 23,065 2023 ​ 20,115 2024 ​ 2,550 2025 ​ 1,691 Thereafter ​ 23 Total ​ $ 172,682 ​

BORROWINGS

BORROWINGS	12 Months Ended
	Dec. 31, 2020
BORROWINGS
BORROWINGS	NOTE 10 - BORROWINGS The Bank has executed a blanket pledge and security agreement with the FHLB that requires certain loans and securities be pledged as collateral for any outstanding borrowings under the agreement. The collateral pledged as of December 31, 2020 and December 31, 2019 amounted to $668.6 million and $515.5 million, respectively. Based on this collateral and the Company’s holdings of FHLB stock, the Company was eligible to borrow an additional $441.8 million as of December 31, 2020. Each advance is payable at its maturity date. The Company had the following required maturities on FHLB borrowings as of the dates noted (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, Maturity Date Rate % 2020 2019 August 26, 2020 ​ 1.94 ​ ​ — ​ ​ 10,000 April 22, 2022 ​ 0.37 ​ ​ 5,000 ​ ​ — May 5, 2023 ​ 0.76 ​ ​ 10,000 ​ ​ — Total ​ $ 15,000 ​ $ 10,000 ​ To bolster the effectiveness of the SBA’s PPP, the Federal Reserve is supplying liquidity to participating financial institutions through term financing collateralized by PPP loans to small businesses. The Paycheck Protection Program Liquidity Facility ("PPPLF") extends credit to eligible financial institutions that originate PPP loans, taking the loans as collateral at face value. As of December 31, 2020 the Company is utilizing $134.6 million under the PPPLF program which is included in the FHLB and Federal Reserve borrowings line of the Consolidated Balance Sheets. The Bank has borrowing capacity associated with three unsecured federal funds lines of credit up to $10.0 million, $19.0 million, and $25.0 million. As of December 31, 2020 and 2019, there were no amounts outstanding on any of the federal funds lines. As of December 31, 2020 and 2019, subordinated notes (the "2016 Sub Notes") issued to various investors totaled $6.6 million. The 2016 Sub Notes accrue interest at a rate of 7.25% per annum until December 31, 2021, at which time the rate will adjust each quarter to the then current 90 day LIBOR plus 587 basis points, mature on December 31, 2026, are redeemable at the option of the Company after January 1, 2022, and pay interest quarterly. 450 On November 25, 2020, the Company completed the issuance and sale of subordinated notes (the "November 2020 Sub Notes") totaling $10.0 million in aggregate principal amount. The issuance included $0.2 million of issuance costs resulting in a net balance of $9.8 million as of December 31, 2020 included in the Subordinated notes line of the Consolidated Balance Sheets. The November 2020 Sub Notes accrue interest at a rate of 4.25% per annum until December 1, 2025, at which time the rate will adjust each quarter to the then current three-month term SOFR, or an alternative rate determined in accordance with the terms of the November 2020 Sub Notes, plus 402 For the years ended December 31, 2020 and 2019, the Company recorded $0.8 million and $0.5 million, respectively, of interest expense related to the collective subordinated notes. The subordinated notes are included in Tier 2 capital under current regulatory guidelines and interpretations, subject to limitations. The Company’s borrowing facilities include various financial and other covenants, including, but not limited to, a requirement that the Bank maintains regulatory capital that is deemed "well capitalized" by federal banking agencies (see Note 23 – Regulatory Capital Matters). As of December 31, 2020 and 2019, the Company was in compliance with the covenant requirements. The Company had a Restated Revolving Credit Note (the "Credit Note") with a correspondent lending partner which matured on June 30, 2020 and was renewed under a new Business Loan Agreement and associated Promissory Note (the "Note") dated June 30, 2020. The Note is secured by stock of the Bank and bears interest at the one month ICE Benchmark Administration ("ICE") LIBOR plus 2.5%. As of December 31, 2020 and 2019, there were no amounts outstanding and the borrowing capacity associated with both facilities was $5.0 million.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2020
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 11 – COMMITMENTS AND CONTINGENCIES The Company is party to credit-related financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its clients. These financial instruments include commitments to extend credit. Such commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the Consolidated Balance Sheets. Commitments may expire without being utilized. The Company’s exposure to loan loss is represented by the contractual amount of these commitments, although material losses are not anticipated. The Company follows the same credit policies in making commitments as it does for on-balance sheet instruments. The following presents the Company’s financial instruments whose contract amounts represent credit risk, as of the dates noted (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ December 31, 2019 ​ Fixed Rate Variable Rate Fixed Rate Variable Rate Unused lines of credit ​ $ 78,506 ​ $ 360,883 ​ $ 32,896 ​ $ 290,653 Standby letters of credit ​ ​ 1,933 ​ ​ 17,524 ​ ​ 1,759 ​ ​ 24,197 Commitments to make loans to sell ​ ​ 370,512 ​ ​ — ​ ​ 47,354 ​ ​ — Commitments to make loans ​ $ 24,225 ​ $ 25,316 ​ $ — ​ $ — ​ Unused lines of credit are agreements to lend to a client 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 payment of a fee. Several of the commitments may expire without being drawn upon. Therefore, the total commitment amounts do not necessarily represent future cash requirements. The amount of collateral obtained, if it is deemed necessary by the Company, is based on management’s credit evaluation of the client. Unused lines of credit under commercial lines of credit, revolving credit lines and overdraft protection agreements are commitments for possible future extensions of credit to existing clients. These lines of credit are uncollateralized and usually do not contain a specified maturity date and may not be drawn upon to the total extent to which the Company is committed. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a client’s obligation to a third party. Those letters of credit are primarily issued to support public and private borrowing arrangements. Substantially all letters of credit issued have expiration dates within one year. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to clients. The Company holds collateral supporting those commitments if deemed necessary. Commitments to make loans to sell are agreements to sell a loan to an investor in the secondary market for which the interest rate has been locked with the client provided there is no violation of any condition within the contract with either party. Commitments to make loans to sell have fixed interest rates. Since commitments may expire without being extended, total commitment amounts may not necessarily represent cash requirements. Commitments to make loans are agreements to lend to a client, provided there is no violation of any condition within the contract. Commitments to make loans generally have fixed expiration dates or other termination clauses. Since commitments may expire without being extended, total commitment amounts may not necessarily represent cash requirements. Litigation, Claims and Settlements The Company is, from time to time, involved in various legal actions arising in the normal course of business. While the ultimate outcome of any such proceedings cannot be predicted with certainty, it is the opinion of management, based on advice from legal counsel, that no proceedings exist, either individually or in the aggregate, which, if determined adversely to the Company, would have a material effect on the Company’s consolidated financial statements. ​ Without admitting or denying the SEC’s findings, FWCM agreed on July 16, 2020 to settle claims that FWCM failed reasonably to supervise its investment adviser representatives who purchased securities sold in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), for advisory clients when the clients were not qualified institutional buyers in a Rule 144A transaction, and to adopt and implement written policies and procedures reasonably designed to prevent violations of the Investment Advisers Act of 1940 and the rules thereunder by the adviser and its supervised persons. The Company had since replaced the FWCM President and FWCM compliance team which were in place during that time. FWCM recognized and paid a fine of $0.2 million to the SEC in 2020.

SHAREHOLDERS EQUITY

SHAREHOLDERS EQUITY	12 Months Ended
	Dec. 31, 2020
SHAREHOLDERS EQUITY
SHAREHOLDERS EQUITY	NOTE 12 – SHAREHOLDERS’ EQUITY Common Stock The Company’s common stock has no par value and each holder of common stock is entitled to one vote for each share (though certain voting restrictions may exist on non-vested restricted stock) held. On June 14, 2019, the Company announced that its board of directors had authorized a share repurchase plan (the "2019 Repurchase Plan") under which the Company may repurchase up to 300,000 shares of its common stock and that the Board of Governors of the Federal Reserve System advised the Company that it had no objection to the Company’s 2019 Repurchase Plan. The 2019 Repurchase Plan authorizes the Company to purchase its common stock from time to time in privately negotiated transactions, in the open market, including pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 plan promulgated by the Securities and Exchange Commissions, or otherwise in a manner that complies with applicable federal securities laws. The 2019 Repurchase Plan was in effect for a one-year period, with the timing of purchases and the number of shares repurchased under the program dependent upon a variety of factors including price, trading volume, corporate and regulatory requirements and market conditions. The 2019 Repurchase Plan may be suspended or discontinued at any time without notice. During the years ended December 31, 2020 and 2019, the Company repurchased 22,679 shares at an average price of $16.50 and 43,698 shares at an average price of $16.51, respectively, under the authorization of the 2019 Repurchase Plan. The 2019 Repurchase Plan expired in June 2020. On November 3, 2020, the Company announced that its board of directors authorized the repurchase of up to 400,000 shares of the Company’s common stock, no par value, from time to time, within one year (the "2020 Repurchase Plan") and that the Board of Governors of the Federal Reserve System advised the Company that it has no objection to the Company’s 2020 Repurchase Plan. The Company may repurchase shares in privately negotiated transactions, in the open market, including pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 promulgated by the Securities and Exchange Commission, or otherwise in a manner that complies with applicable federal securities laws. The 2020 Repurchase Plan does not obligate the Company to acquire a specific dollar amount or number of shares and it may be extended, modified or discontinued at any time without notice. During the year ended December 31, 2020, the Company repurchased 426 shares at an average price of $17.30 under the authorization of the 2020 Repurchase Plan. During the years ended December 31, 2020 and 2019, the Company sold no shares of common stock. Restricted Stock Awards In 2017, the Company issued 105,264 shares of common stock ("Restricted Stock Awards") with a value of $3.0 million to the sole member of EMC Holdings, LLC ("EMC"), subject to forfeiture based on his continued employment with the Company. Half of the Restricted Stock Awards ($1.5 million or 52,632 shares) vests ratably over five-years. The remaining $1.5 million, or 52,632 shares, may be earned based on performance of the mortgage division of the Company. During the year ended December 31, 2020, the Company recognized compensation expense of $0.1 million, representing the remaining 14,114 shares, related to the performance based awards. During the year ended December 31, 2019, the Company recognized compensation expense of $0.6 million, representing 38,518 shares, related to the performance-based awards. The performance based awards fully vested in the second quarter of 2020. As of December 31, 2020 and 2019, the Restricted Stock Awards have a weighted-average grant date fair value of $28.50 per share. The Company has recognized compensation expense of $0.4 million and $0.9 million, respectively, for all the Restricted Stock Awards. As of December 31, 2020, the Company has $0.5 million of unrecognized stock-based compensation expense related to the shares issued, which is expected to be recognized over a weighted average period of 1.2 years. Restricted Stock Awards represented 40,614 shares that vested during the year ended December 31, 2020. Stock-Based Compensation Plans The 2008 Stock Incentive Plan (“the 2008 Plan”) was frozen in connection with the adoption of the 2016 Plan and no new awards may be granted under the 2008 Plan. As of December 31, 2020, there were a total of 458,947 shares available for issuance under the First Western Financial, Inc. 2016 Omnibus Incentive Plan ("the 2016 Plan"). If the Awards outstanding under the 2008 Plan or the 2016 Plan are forfeited, cancelled or terminated with no consideration paid to the Company, those amounts will increase the number of shares eligible to be granted under the 2016 Plan. Stock Options The Company did not grant any stock options during the years ended December 31, 2020 and 2019. During the years ended December 31, 2020 and 2019, the Company recognized stock-based compensation expense of $0.2 million and $0.3 million, respectively. As of December 31, 2020, the Company has an immaterial amount of unrecognized stock-based compensation expense related to stock options which are unvested. That cost is expected to be recognized over a weighted-average period of less than one year. The following summarizes activity for nonqualified stock options for the year ended December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ Number ​ Average ​ Remaining ​ Aggregate ​ ​ of ​ Exercise ​ Contractual ​ Intrinsic ​ Options Price Term Value Outstanding as of December 31, 2019 ​ 419,197 ​ $ 29.02 ​ ​ ​ ​ Granted ​ — ​ ​ — ​ ​ ​ ​ Exercised ​ — ​ ​ — ​ ​ ​ ​ Forfeited or expired ​ — ​ ​ — ​ ​ ​ ​ Outstanding as of December 31, 2020 ​ 419,197 ​ $ 29.02 ​ 2.5 ​ (1) Options fully vested / exercisable as of December 31, 2020 ​ 414,727 ​ $ 29.04 ​ 2.5 ​ (1) (a) Nonqualified stock options outstanding at the end of the period and those fully vested / exercisable had immaterial aggregate intrinsic values. As of December 31, 2020 and December 31, 2019, there were 414,727 and 394,020 options, respectively, that were exercisable. Exercise prices are between $20.00 and $40.00 per share, and the options are exercisable for a period of ten years from the original grant date and expire on various dates between 2022 and 2026. Restricted Stock Units Pursuant to the 2016 Plan, the Company can grant associates and non-associate directors long-term cash and stock-based compensation. During the year ended December 31, 2020, the Company granted certain associates restricted stock units which are earned over time or based on various performance measures and convert to common stock upon vesting, which are summarized here and expanded further below: The following summarizes the activity for the Time Vesting Units, the Financial Performance Units and the Market Performance Units for the year ended December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time ​ Financial ​ Market ​ ​ Vesting ​ Performance ​ Performance ​ Units Units Units Outstanding as of December 31, 2019 ​ 209,444 ​ 69,426 ​ 14,862 Granted ​ 132,775 ​ 84,027 ​ — Vested ​ (54,753) ​ — ​ — Forfeited ​ (2,414) ​ (1,023) ​ — Outstanding as of December 31, 2020 ​ 285,052 ​ 152,430 ​ 14,862 ​ During the year ended December 31, 2020, the Company issued 34,710 shares of common stock upon the settlement of Time Vesting Units. The remaining 20,043 shares were surrendered with a combined market value at the dates of settlement of $0.3 million to cover employee withholding taxes. During the year ended December 31, 2019, the Company issued 15,446 shares of common stock upon the settlement of Time Vesting Units. The remaining 7,835 shares were surrendered with a combined market value at the dates of settlement of $0.1 million to cover employee withholding taxes. Time Vesting Units The Time Vesting Units are granted to full-time associates and board members at the date approved by the Company’s board of directors. The Company granted 132,775 Time Vesting Units with a five-year service period during the year ended December 31, 2020, that vest in equal installments of 20% on the anniversary of the grant date, assuming continuous employment through the scheduled vesting dates. The Time Vesting Units granted in 2020 have a weighted-average grant-date fair value of $13.65 per unit. During the years ended December 31, 2020 and 2019, the Company recognized compensation expense of $1.4 million and $1.0 million, respectively, for the Time Vesting Units. As of December 31, 2020, there was $3.9 million of unrecognized compensation expense related to the Time Vesting Units, which is expected to be recognized over a weighted-average period of 1.9 years. Financial Performance Units Financial Performance Units are granted to certain key associates and are earned based on the Company achieving various financial performance metrics. If the Company achieves the financial metrics, which include various thresholds from 0% up to 150%, then the Financial Performance Units will have a subsequent vesting period. The following presents the Company’s existing Financial Performance Units as of December 31, 2020 (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Grant Period ​ Threshold accrual Maximum issuable shares at current threshold ​ Unrecognized compensation expense ​ Weighted-Average (1) ​ Financial metric end date ​ Vesting requirement end date Prior to May 1, 2019 ​ 50% on half; 100% on other half 10,035 ​ $ 79 ​ 1.0 years ​ December 31, 2019 ​ December 31, 2021 May 1, 2019 through April 30, 2020 ​ 150% 86,148 ​ ​ 527 ​ 3.1 years ​ December 31, 2021 ​ December 31, 2023 May 1, 2020 through December 31, 2020, excluding November 18, 2020 ​ 150% 87,675 ​ ​ 627 ​ 4.0 years ​ December 31, 2022 ​ December 31, 2023 On November 18, 2020 ​ 126% 29,268 ​ $ 397 ​ 3.9 years ​ December 31, 2022 ​ 50% November 18, 2023 & 2025 ________________ (1) The following presents the Company’s Financial Performance Units activity for the years noted December 31 (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Units Granted ​ Compensation expense recognized Grant Period ​ 2020 2019 ​ 2020 ​ 2019 Prior to May 1, 2019 ​ — — ​ $ 64 ​ $ * May 1, 2019 through April 30, 2020 ​ 1,866 62,569 ​ ​ 312 ​ ​ 110 May 1, 2020 through December 31, 2020, excluding November 18, 2020 ​ 58,993 — ​ ​ 156 ​ ​ — On November 18, 2020 ​ 23,168 — ​ $ 17 ​ $ — ________________ *Not meaningful Market Performance Units Market Performance Units were granted to certain key associates and are earned based on growth in the value of the Company’s common stock, and were dependent on the Company completing an initial public offering of stock during a defined period of time. On July 23, 2018, the Company completed its initial public offering and the Market Performance Units performance condition was met. Subsequent to the performance condition there is also a market condition as a vesting requirement for the Market Performance Units which affects the determination of the grant date fair value. The Company estimated the grant date fair value using various valuation assumptions. During years ended December 31, 2020 and 2019, the Company recognized an immaterial amount of compensation expense for the Market Performance Units. As of December 31, 2020, there was $0.4 million of unrecognized compensation expense related to the Market Performance Units which is expected to be recognized over a weighted-average period of 1.5 years. If the Company’s common stock is trading at or above certain prices, over a performance period which ended on June 30, 2020, the Market Performance Units would have been determined to be earned and vest following the completion of a subsequent service period ending on June 30, 2022. The Company’s common stock did not trade at or above the required prices over the performance period and as a result, no Market Performance Units are eligible to be earned.

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	12 Months Ended
	Dec. 31, 2020
EARNINGS PER COMMON SHARE
EARNINGS PER COMMON SHARE	NOTE 13 - EARNINGS PER COMMON SHARE The table below presents the calculation of basic and diluted earnings per common share for the periods indicated (amounts in thousands, except share and per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 2019 Earnings per common share - Basic ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ Net income ​ $ 24,534 $ 8,009 Net income available for common shareholders ​ $ 24,534 $ 8,009 ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ Basic weighted average shares ​ 7,899,278 7,890,266 Earnings per common share - basic ​ $ 3.11 ​ $ 1.02 ​ ​ ​ ​ ​ ​ ​ Earnings per common share - Diluted ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ Net income ​ $ 24,534 $ 8,009 Net income available for common shareholders ​ $ 24,534 $ 8,009 ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ Basic weighted average shares ​ ​ 7,899,278 ​ ​ 7,890,266 Diluted effect of common stock equivalents: ​ ​ ​ ​ ​ ​ Time Vesting Units ​ $ 32,995 ​ $ 9,315 Financial Performance Units ​ ​ 16,160 ​ ​ 2,071 Market Performance Units ​ ​ 13,471 ​ ​ 13,309 Total diluted effect of common stock equivalents ​ ​ 62,626 ​ ​ 24,695 Diluted weighted average shares ​ 7,961,904 7,914,961 Earnings per common share - diluted ​ $ 3.08 ​ $ 1.01 ​ Diluted earnings per share was computed without consideration to potentially dilutive instruments as their inclusion would have been anti-dilutive. For the years ended December 31, 2020 and 2019, potentially dilutive securities excluded from the diluted earnings per share calculation are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 ​ 2019 Stock options ​ 419,197 ​ ​ 433,572 Time Vesting Units ​ 88,121 ​ ​ 144,560 Financial Performance Units ​ 70,397 ​ ​ 35,256 Restricted Stock Awards ​ 36,401 ​ ​ 78,202 Total potentially dilutive securities ​ 614,116 ​ ​ 691,590 ​

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2020
INCOME TAXES
INCOME TAXES	​ NOTE 14 - INCOME TAXES The components of the Company’s income tax expense as of December 31 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Current: ​ ​ Federal ​ $ 7,970 ​ $ 3,076 State and local ​ 1,859 ​ 323 Total current tax expense ​ 9,829 ​ 3,399 Deferred: ​ ​ ​ ​ ​ ​ Federal ​ ​ (1,392) ​ ​ (1,338) State and local ​ (280) ​ 122 Valuation allowance ​ 372 ​ — Total deferred (benefit) tax ​ (1,300) ​ (1,216) Income tax expense ​ $ 8,529 ​ $ 2,183 ​ The following is a reconciliation of income taxes reflected on the Consolidated Statements of Income for the years ended December 31, 2020 and 2019 with income tax expense computed by applying the United States federal income tax rate of 21% to income before income taxes (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Income tax expense computed at 21% statutory rate ​ $ 6,943 ​ $ 2,140 Differences: ​ ​ Permanent differences ​ (57) ​ (30) State taxes, net of federal expense ​ 1,150 ​ 394 Low income housing investment ​ ​ (36) ​ ​ — Valuation allowance ​ ​ 372 ​ ​ — Other, net (1) ​ 157 ​ (321) Income tax expense ​ $ 8,529 ​ $ 2,183 (1) Includes the impact of R&D tax credits. The following were the principal components of the Company’s deferred tax items as of December 31 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Deferred tax assets: ​ ​ Net operating loss carryforwards ​ $ 577 ​ $ 545 Allowance for loan losses ​ 3,054 ​ 1,925 Deferred rent ​ 635 ​ 797 Stock-based compensation ​ 1,613 ​ 1,400 Provision on other real estate owned ​ 484 ​ 438 Other intangible assets ​ 615 ​ 723 Unrealized losses on securities, net ​ — ​ 55 Accrued bonuses ​ 898 ​ 474 Loan fees ​ 244 ​ 352 Other ​ 553 ​ 685 Total deferred tax assets ​ 8,673 ​ 7,394 Deferred tax liabilities: ​ ​ Goodwill ​ ​ (1,013) ​ ​ (1,354) Depreciation ​ ​ (904) ​ ​ (961) Unrealized gains on securities, net ​ ​ (236) ​ ​ — Other ​ (92) ​ (32) Total deferred tax liabilities ​ (2,245) ​ (2,347) Net operating loss valuation allowance ​ ​ (372) ​ ​ — Net deferred tax asset ​ $ 6,056 ​ $ 5,047 ​ The net operating loss ("NOL") carryforwards expire in tax years 2028 through 2032. As of December 31, 2020, the Company has $6.5 million of California NOLs available for utilization. In general, a corporation’s ability to utilize its NOL carryforwards may be substantially limited due to ownership changes that have occurred or that could occur in the future, as required by Section 382 of the Internal Revenue Code of 1986, as amended (the "Code"), as well as similar state provisions. These ownership changes may limit the amount of NOL carryforwards that can be utilized annually to offset future taxable income and tax. In general, an "ownership change," as defined by Section 382 of the Code, results from a transaction or series of transactions over a three-year period resulting in an ownership change of more than 50 percent of the capital (as defined) of a company by certain stockholders or public groups. During 2020, as a result of divestitures, the Company did not expect to realize the full NOL. As such, the Company recorded a $0.4 million valuation allowance related to the California NOLs. The Company identified no other material uncertain tax positions for which it is reasonably possible the total amount of unrecognized tax benefits will significantly increase or decrease within 12 months. The Company and its subsidiaries file tax returns for the United States and for multiple states and localities. The United States federal income tax returns of the Company are eligible to be examined for the years 2017 and forward. There are no federal or state tax examinations currently in progress.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2020
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS	NOTE 15 – EMPLOYEE BENEFIT PLANS The Company sponsors a 401(k) Plan, which is a defined contribution plan, in which substantially all associates are eligible to participate in and associates may contribute up to 100% of their compensation subject to certain limits based on federal tax laws. The Company may elect to make matching contributions as defined by the plan. For the years ended December 31, 2020 and 2019, the Company expensed matching contributions to the plan totaling $0.9 million and $0.7 million, respectively. The Company did not pay any expenses attributable to the plan during the years ended December 31, 2020 and 2019.

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2020
RELATED-PARTY TRANSACTIONS
RELATED-PARTY TRANSACTIONS	NOTE 16 – RELATED-PARTY TRANSACTIONS The Bank extends credit to certain covered parties including Company directors, executive officers and their affiliates. As of December 31, 2020 and December 31, 2019, there were no delinquent or non-performing loans to any executive officer or director of the Company. These covered parties, along with principal owners, management, immediate family of management or principal owners, a parent company and its subsidiaries, trusts for the benefit of employees, and other parties, may be considered related parties. The following presents a summary of related-party loan activity as of the dates noted (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 December 31, 2019 Balance, beginning of year ​ $ 5,675 ​ $ 2,659 Funded loans ​ 17,348 ​ 11,618 Payments collected ​ (8,702) ​ (8,602) Balance, end of year ​ $ 14,321 ​ $ 5,675 ​ Deposits from related parties held by the Bank as of December 31, 2020 and December 31, 2019 totaled $26.2 million and $28.5 million, respectively. The Company leases office spaces from entities controlled by one of the Company’s board members. During the years ended December 31, 2020 and 2019, the Company incurred $0.2 million and $0.3 million, respectively, of expense related to these leases. The Company earned trust and investment management fees of $0.2 million from related parties during the years ended December 31, 2020 and 2019. Assets under management for those related parties totaled $92.1 million and $137.1 million as of December 31, 2020 and 2019, respectively.

FAIR VALUE

FAIR VALUE	12 Months Ended
	Dec. 31, 2020
FAIR VALUE
FAIR VALUE	NOTE 17 - FAIR VALUE Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. ​ ​ Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. ​ ​ Level 3: Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. ​ The Company used the following methods and significant assumptions to estimate fair value: Investment Securities : Guarantee asset and liability : ​ Interest Rate Lock Commitments ( " IRLC " ) and Forward Sale Commitments ( " FSC " ) : IRLC and FSC’s are carried at fair value in the Company’s financial statements. Changes in the fair value of a IRLC and FSC’s are accounted for within the Consolidated Statements of Income. Other Real Estate Owned : Impaired Loans : Appraisals for both collateral-dependent impaired loans and other real estate owned are performed by certified general appraisers (for commercial properties) or certified residential appraisers (for residential properties) whose qualifications and licenses have been reviewed and verified by the Company. Once received, the Company reviews the assumptions and approaches utilized in the appraisal as well as the overall resulting fair value in comparison with independent data sources such as recent market data or industry-wide statistics. The following presents assets and liabilities measured on a recurring basis as of December 31, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Other ​ Significant ​ ​ ​ ​ ​ for Identical ​ Observable ​ Unobservable ​ ​ ​ ​ ​ Assets ​ Inputs ​ Inputs ​ Reported December 31, 2020 ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Balance Investment securities available-for-sale: ​ ​ ​ ​ U.S. Treasury debt ​ $ 254 ​ $ — ​ $ — ​ $ 254 Corporate bonds ​ ​ — ​ ​ 6,044 ​ ​ — ​ ​ 6,044 GNMA mortgage-backed securities - residential ​ ​ — ​ ​ 24,604 ​ ​ — ​ ​ 24,604 FNMA mortgage-backed securities - residential ​ ​ — ​ ​ 1,677 ​ ​ — ​ ​ 1,677 Corporate CMO and MBS ​ ​ — ​ ​ 4,087 ​ ​ — ​ ​ 4,087 Total securities available-for-sale ​ $ 254 ​ $ 36,412 ​ $ — ​ $ 36,666 Equity securities ​ $ 730 ​ $ — ​ $ — ​ $ 730 Guarantee asset ​ $ — ​ $ — ​ $ 232 ​ $ 232 IRLC and FSC, net ​ $ — ​ $ — ​ $ 9,752 ​ $ 9,752 Guarantee liability ​ $ — ​ $ — ​ $ (125) ​ $ (125) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Other ​ Significant ​ ​ ​ ​ ​ for Identical ​ Observable ​ Unobservable ​ ​ ​ ​ ​ Assets ​ Inputs ​ Inputs ​ Reported December 31, 2019 ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Balance Investment securities available-for-sale: ​ ​ ​ ​ U.S. Treasury debt ​ $ 254 ​ $ — ​ $ — ​ $ 254 GNMA mortgage-backed securities - residential ​ ​ — ​ ​ 45,312 ​ ​ — ​ ​ 45,312 FNMA mortgage-backed securities - residential ​ ​ — ​ ​ 2,917 ​ ​ — ​ ​ 2,917 Corporate CMO and MBS ​ ​ — ​ ​ 10,420 ​ ​ — ​ ​ 10,420 Total securities available-for-sale ​ $ 254 ​ $ 58,649 ​ $ — ​ $ 58,903 Equity securities ​ $ 713 ​ $ — ​ $ — ​ $ 713 IRLC and FSC, net ​ $ — ​ $ — ​ $ 1,184 ​ $ 1,184 ​ There were no transfers levels 2020 2 3 inputs The following presents a reconciliation for Level 3 instruments measured at fair value on a recurring basis (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2020 Guarantee Asset ​ IRLC and FSC, Net ​ Guarantee Liability Beginning balance ​ $ — ​ $ 1,184 ​ $ — Acquisitions ​ ​ — ​ ​ 44,763 ​ ​ — Originations ​ ​ — ​ ​ (39,985) ​ ​ — Sales ​ ​ 245 ​ ​ — ​ ​ 244 Gains (losses) in net income, net ​ ​ 55 ​ ​ 3,790 ​ ​ (119) Other settlements ​ ​ (68) ​ ​ — ​ ​ — Ending balance ​ $ 232 ​ $ 9,752 ​ $ 125 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2019 Guarantee Asset IRLC and FSC, Net Guarantee Liability Beginning balance ​ $ — ​ $ 421 ​ $ — Acquisitions ​ — ​ ​ 13,094 ​ ​ — Originations ​ — ​ ​ (10,009) ​ ​ — Losses in net income, net ​ ​ — ​ ​ (2,322) ​ ​ — Ending balance ​ $ — ​ $ 1,184 ​ $ — ​ Mutual funds and U.S. Treasury debt are reported at fair value utilizing Level 1 inputs. The remaining portfolio of securities are reported at fair value with Level 2 inputs provided by a pricing service. As of December 31, 2020 and December 31, 2019, the majority of the securities had credit support provided by the Federal Home Loan Mortgage Corporation, GNMA, and FNMA. Factors used to value the securities by the pricing service include: benchmark yields, reported trades, interest spreads, prepayments, and other market research. In addition, ratings and collateral quality are considered. As of December 31, 2020, equity securities, IRLC, and guarantee assets have been recorded at fair value within the Other assets line item and the FSC and guarantee liabilities have been recorded at fair value with the Other liabilities line item in the Consolidated Balance Sheets. All changes are recorded in the Other line item in the Consolidated Statement of Income. The following presents quantitative information about Level 3 assets measured on a recurring basis as of December 31, 2020 and 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements as of December 31, 2020 ​ ​ ​ ​ ​ Valuation ​ Significant ​ Range ​ ​ Fair Value ​ Technique ​ Unobservable Input ​ (Weighted Average) Guarantee asset ​ $ 232 ​ ​ Discounted cash flow ​ ​ Discount rate ​ ​ 3% (3%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ IRLC and FSC, net ​ ​ 9,752 ​ ​ Best execution model ​ ​ Pull through ​ ​ 55% - 100% (86%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Guarantee liability ​ $ (125) ​ ​ Discounted cash flow ​ ​ Discount rate ​ ​ 3% (3%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements as of December 31, 2019 ​ ​ ​ ​ ​ Valuation ​ Significant ​ Range ​ ​ Fair Value ​ Technique ​ Unobservable Input ​ (Weighted Average) IRLC and FSC, net ​ $ 1,184 ​ ​ Best execution model ​ ​ Pull through ​ ​ 75% - 100% (88%) ​ The following presents assets measured on a nonrecurring basis as of December 31, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Other ​ Significant ​ ​ ​ ​ ​ for Identical ​ Observable ​ Unobservable ​ ​ ​ ​ ​ Assets ​ Inputs ​ Inputs ​ Reported December 31, 2020 ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Balance Other real estate owned: ​ ​ ​ ​ Commercial properties ​ $ — ​ $ — ​ $ 194 ​ $ 194 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total impaired loans (1) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and Industrial ​ $ — ​ $ — ​ $ 1,800 ​ $ 1,800 ______________________________________ (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Other ​ Significant ​ ​ ​ ​ ​ for Identical ​ Observable ​ Unobservable ​ ​ ​ ​ ​ Assets ​ Inputs ​ Inputs ​ Reported December 31, 2019 ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Balance Other real estate owned: ​ ​ ​ ​ Commercial properties ​ $ — ​ $ — ​ $ 658 ​ $ 658 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total impaired loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and Industrial ​ $ — ​ $ — ​ $ 3,579 ​ $ 3,579 ​ The sales comparison approach was utilized for estimating the fair value of non-recurring assets. As of December 31, 2020, OREO had a carrying amount of $0.2 million, which is the cost basis of $2.1 million net of a valuation allowance of $1.9 million. As of December 31, 2019, OREO had a carrying amount of $0.7 million, which is the cost basis of $2.4 million net of a valuation allowance of $1.7 million. As of December 31, 2020, total impaired loans measured for impairment using the fair value of the collateral for collateral dependent loans had carrying values of $3.4 million with valuation allowances of $1.6 million and were classified as Level 3. As of December 31, 2019, impaired loans measured for impairment using the fair value of the collateral for collateral dependent loans had carrying values of $4.4 million with valuation allowances of $0.8 million and were classified as Level 3. Impaired loans accounted for specific reserves of $1.6 million and $0.8 million for the years ended December 31, 2020 and 2019. The Bank charged off an immaterial amount during the year ended December 31, 2020 from the specific reserve. The Bank charged off $0.2 million during the year ended December 31, 2019 from the specific reserve. The following presents quantitative information about the significant unobservable inputs used in the fair value measurement of recurring and nonrecurring non-financial instruments categorized within Level 3 of the fair value hierarchy as of December 31, 2020 and 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements as of December 31, 2020 ​ ​ ​ ​ ​ Valuation ​ Significant ​ Range ​ ​ Fair Value ​ Technique ​ Unobservable Input ​ (Weighted Average) Other real estate owned: ​ ​ ​ ​ Commercial properties ​ $ 194 ​ ​ Sales contract ​ ​ Commission, cost to sell, closing costs ​ ​ 5% (5%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total impaired loans (1) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and Industrial ​ $ 1,800 ​ ​ Sales comparison, Market approach - guideline transaction method ​ ​ Management discount for asset/property type ​ ​ 17% - 35% (26%) ______________________________________ (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements as of December 31, 2019 ​ ​ ​ ​ ​ Valuation ​ Significant ​ Range ​ ​ Fair Value ​ Technique ​ Unobservable Input ​ (Weighted Average) Other real estate owned: ​ ​ ​ ​ Commercial properties ​ $ 658 ​ ​ Appraisal value ​ ​ Discount rate ​ ​ 50% (50%) ​ ​ ​ ​ ​ ​ ​ ​ ​ Commission and cost to sell ​ ​ 1% - 10% (7%) Total impaired loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and Industrial ​ $ 3,579 ​ ​ Sales comparison, Market approach - guideline transaction method ​ ​ Management discount for asset/property type ​ ​ 0% - 50% (23%) ​ The following presents carrying amounts and estimated fair values for financial instruments not carried at fair value as of December 31, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Fair Value Measurements Using: December 31, 2020 Amount ​ Level 1 ​ Level 2 ​ Level 3 Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 155,989 ​ $ 155,989 ​ $ — ​ $ — Loans, net ​ ​ 1,520,294 ​ ​ — ​ ​ — ​ ​ 1,512,699 Mortgage loans held for sale ​ ​ 161,843 ​ ​ — ​ ​ 161,843 ​ ​ — Accrued interest receivable ​ ​ 6,618 ​ ​ — ​ ​ 6,618 ​ ​ — Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ ​ 1,619,910 ​ ​ — ​ ​ 1,621,648 ​ ​ — Borrowings: ​ ​ ​ ​ ​ ​ ​ ​ FHLB borrowings – fixed rate ​ ​ 15,000 ​ ​ — ​ ​ 15,099 ​ ​ — Federal Reserve borrowings – fixed rate ​ ​ 134,563 ​ ​ — ​ ​ 134,563 ​ ​ — Subordinated notes – fixed-to-floating rate ​ ​ 24,291 ​ ​ — ​ ​ — ​ ​ 25,750 Accrued interest payable ​ $ 453 ​ $ — ​ $ 453 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Fair Value Measurements Using: December 31, 2019 ​ Amount ​ Level 1 ​ Level 2 ​ Level 3 Assets: ​ ​ ​ ​ Cash and cash equivalents ​ $ 78,638 ​ $ 78,638 ​ $ — ​ $ — Loans, net ​ ​ 990,132 ​ ​ — ​ ​ — ​ ​ 974,142 Mortgage loans held for sale ​ ​ 48,312 ​ ​ — ​ ​ 48,312 ​ ​ — Accrued interest receivable ​ ​ 3,048 ​ ​ — ​ ​ 3,048 ​ ​ — Liabilities: ​ ​ ​ ​ ​ ​ ​ ​ Deposits ​ ​ 1,086,784 ​ ​ — ​ ​ 1,089,261 ​ ​ — Borrowings: ​ ​ ​ ​ ​ ​ ​ ​ FHLB borrowings – fixed rate ​ ​ 10,000 ​ ​ — ​ ​ 10,003 ​ ​ — Subordinated notes – fixed-to-floating rate ​ ​ 6,560 ​ ​ — ​ ​ — ​ ​ 6,004 Accrued interest payable ​ $ 299 ​ $ — ​ $ 299 ​ $ — ​ The fair value estimates presented and discussed above are based on pertinent information available to management as of the dates specified. The estimated fair value amounts are based on the exit price notion set forth by ASU 2016-01. Although management is not aware of any factors that would significantly affect the estimated fair values, such amounts have not been comprehensively revalued for purposes of these consolidated financial statements since the balance sheet dates. Therefore, current estimates of fair value may differ significantly from the amounts presented herein. The methods and assumptions, not previously presented, used to estimate fair values are described as follows. Cash and Cash Equivalents and Restricted Cash Loans, net Mortgage Loans Held for Sale Accrued Interest Receivable and Payable Deposits Borrowings: Fixed Rate Borrowings Fixed-to-Floating Rate Borrowings:

ASSETS AND OTHER LIABILITIES CL

ASSETS AND OTHER LIABILITIES CLASSIFIED AS HELD FOR SALE	12 Months Ended
	Dec. 31, 2020
ASSETS AND OTHER LIABILITIES CLASSIFIED AS HELD FOR SALE
ASSETS AND OTHER LIABILITIES CLASSIFIED AS HELD FOR SALE	NOTE 18 – ASSETS AND OTHER LIABILITIES CLASSIFIED AS HELD FOR SALE During the year ended December 31, 2019, the Company was actively seeking to sell its Los Angeles-based fixed income portfolio management team ("LA fixed income team") and certain advisory and sub-advisory arrangements. As such, the related assets and liabilities were classified as a disposal group held for sale and were presented separately in the Consolidated Balance Sheets for the year ended December 31, 2019. On November 13, 2020, the Company completed the sale of these assets. The Company has no assets or liabilities classified as a disposal group held for sale as of December 31, 2020. Intangible assets and other liabilities in disposal groups held for sale are as follows at the dates noted (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2020 ​ 2019 ASSETS ​ ​ ​ Goodwill ​ $ — ​ $ 3,553 Assets in disposal groups held for sale ​ $ — ​ $ 3,553 ​ ​ ​ ​ ​ ​ ​ LIABILITIES ​ ​ Other liabilities ​ $ — ​ $ 117 Liabilities in disposal groups held for sale ​ $ — ​ $ 117 ​

SEGMENT REPORTING

SEGMENT REPORTING	12 Months Ended
	Dec. 31, 2020
SEGMENT REPORTING
SEGMENT REPORTING	NOTE 19 - SEGMENT REPORTING The Company’s reportable segments consist of Wealth Management and Mortgage. The chief operating decision maker ("CODM") is the Chief Executive Officer. The measure of profit or loss used by the CODM to identify and measure the Company’s reportable segments is income before income tax. The Company completed the sale of its LA fixed income team in the fourth quarter 2020. The LA fixed income team and the related assets made up a majority of the previously reported Capital Management Segment. As a result of the sale the Company evaluated its reportable segments and determined the remaining assets following the sale in the Capital Management segment no longer meet the thresholds of income before income tax to be a reportable segment. The residual assets that remained in the Capital Management segment are now included in the Wealth Management segment. The Wealth Management segment consists of operations relative to the Company’s fully integrated wealth management products and services. Services provided include deposit, loan, insurance, and trust and investment management advisory products and services. The Mortgage segment consists of operations relative to the Company’s residential mortgage service offerings. Mortgage products and services are financial in nature for which premiums are recognized, net of expenses, upon the sale of mortgage loans to third parties. For all periods presented, the Wealth Management segment includes the previously reported key metrics of the previously reported Capital Management segment. The tables below present the financial information for each segment that is specifically identifiable or based on allocations using internal methods for the years ended December 31, 2020 and 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2020 ​ Wealth (1) ​ Mortgage ​ Consolidated Income Statement ​ ​ ​ ​ ​ ​ ​ ​ ​ Total interest income $ 53,334 $ — $ 53,334 Total interest expense ​ ​ 7,232 ​ ​ — ​ 7,232 Provision for loan losses ​ ​ 4,682 ​ ​ — ​ 4,682 Net interest income, after provision for loan losses ​ ​ 41,420 ​ ​ — ​ 41,420 Non-interest income ​ ​ 21,836 ​ ​ 29,344 ​ 51,180 Total income ​ ​ 63,256 ​ ​ 29,344 ​ 92,600 Depreciation and amortization expense ​ ​ 1,035 ​ ​ 70 ​ 1,105 All other non-interest expense ​ ​ 50,135 (2) ​ 8,297 ​ 58,432 Income before income tax ​ $ 12,086 ​ $ 20,977 $ 33,063 ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 24,191 ​ $ — $ 24,191 Total assets ​ $ 1,798,416 ​ $ 175,239 $ 1,973,655 ______________________________________ (1) Includes financial information previously reported under the Capital Management segment. (2) Includes loss on assets held for sale of $0.6 million and $0.2 million SEC penalty in the previously reported Capital Management segment. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2019 ​ Wealth (1) ​ Mortgage Consolidated Income Statement ​ ​ ​ ​ ​ ​ ​ ​ Total interest income $ 45,051 ​ $ — $ 45,051 Total interest expense ​ ​ 12,990 ​ ​ — ​ 12,990 Provision for loan losses ​ ​ 662 ​ ​ — ​ 662 Net interest income, after provision for loan losses ​ ​ 31,399 ​ ​ — ​ 31,399 Non-interest income ​ ​ 21,902 ​ ​ 10,675 ​ 32,577 Total income ​ ​ 53,301 ​ ​ 10,675 ​ 63,976 Depreciation and amortization expense ​ ​ 1,453 ​ ​ 218 ​ 1,671 All other non-interest expense ​ ​ 45,696 (2) ​ 6,417 ​ 52,113 Income (loss) before income tax ​ $ 6,152 ​ $ 4,040 $ 10,192 ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 19,686 ​ $ — $ 19,686 Assets held for sale ​ ​ 3,553 ​ ​ — ​ ​ 3,553 Total assets ​ $ 1,204,620 ​ $ 47,062 $ 1,251,682 _________________________________________________ (1) Includes financial information previously reported under the Capital Management segment. (2) Includes goodwill impairment charge of $1.6 million in the previously reported Capital Management segment.

LOW-INCOME HOUSING TAX CREDIT I

LOW-INCOME HOUSING TAX CREDIT INVESTMENT	12 Months Ended
	Dec. 31, 2020
Investments in Affordable Housing Projects [Abstract]
Low Income Housing Tax Credit Investment [Text Block]	NOTE 20 – LOW-INCOME HOUSING TAX CREDIT INVESTMENTS On December 19, 2019, the Company invested in a low-income housing tax credit ("LIHTC") investment. As of December 31, 2020 and 2019, the balance of the investment for LIHTC was $1.1 million and $0.9 million. These balances are reflected in the Other assets line item of the Consolidated Balance Sheets. Total unfunded commitments related to the investment in the LIHTC total $2.2 million and $2.5 million as of December 31, 2020 and 2019. The Company expects to fulfill these commitments during the year ending 2021. The Company uses the proportional amortization method to account for this investment. During the year ended December 31, 2020, the Company recognized amortization expense of $0.2 million, which was included within the Income tax expense line item of the Consolidated Statements of Income. The Company did not Additionally, during the year ended December 31, 2020, the Company recognized tax credits and other benefits from this investment in the LIHTC of $0.1 million. The Company did not

CONDENSED FINANCIAL STATEMENTS

CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY	12 Months Ended
	Dec. 31, 2020
CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY
CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY	NOTE 21 – CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY The tables below present condensed financial statements pertaining only to FWFI (in thousands). Investments in subsidiaries are stated using the equity method of accounting. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, Condensed Balance Sheets 2020 ​ 2019 ASSETS ​ ​ Cash and cash equivalents $ 14,270 $ 9,301 Investment in subsidiaries ​ ​ 157,377 ​ ​ 122,792 Loans, net ​ ​ 2,021 ​ ​ 2,091 Other assets ​ ​ 4,075 ​ ​ 597 Total assets ​ $ 177,743 ​ $ 134,781 LIABILITIES ​ ​ Subordinated notes ​ $ 24,291 ​ $ 6,560 Other liabilities (1) ​ (1,510) ​ 543 Total liabilities ​ 22,781 ​ 7,103 SHAREHOLDERS’ EQUITY ​ ​ Total shareholders’ equity ​ 154,962 ​ 127,678 Total liabilities and shareholders’ equity ​ $ 177,743 ​ $ 134,781 _________________________________________________ (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, Condensed Statements of Income 2020 ​ 2019 Income ​ ​ Interest income ​ $ 87 ​ $ 93 Non-interest income ​ ​ (1) ​ ​ — Total income ​ ​ 86 ​ ​ 93 Expense ​ ​ Interest expense ​ 854 ​ 476 Non-interest expense ​ ​ 355 ​ ​ 267 Total expense ​ 1,209 ​ 743 Loss before income tax and equity in undistributed income of subsidiaries ​ (1,123) ​ (650) Income tax benefit ​ (85) ​ 49 Loss before equity in undistributed income of subsidiaries ​ ​ (1,208) ​ ​ (601) Equity in undistributed income to subsidiaries ​ 25,742 ​ 8,610 Net income ​ $ 24,534 ​ $ 8,009 ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, Condensed Statements of Cash Flows ​ 2020 ​ 2019 Cash flows from operating activities ​ ​ Net income ​ $ 24,534 ​ $ 8,009 Adjustments: ​ ​ ​ ​ ​ ​ Current & deferred income tax (benefit)/expense ​ ​ (3,003) ​ ​ 282 Stock-based compensation ​ ​ 2,544 ​ ​ 2,291 Undistributed equity in subsidiaries ​ ​ (25,742) ​ ​ (8,610) Change in other assets ​ (32) ​ 665 Change in other liabilities ​ ​ (42) ​ ​ — Net cash (used in) provided by operating activities ​ (1,741) ​ 2,637 Cash flows from investing activities ​ ​ ​ ​ ​ ​ Investment in subsidiaries ​ ​ (10,453) ​ ​ (2,152) Loan and note receivable originations and principal collections ​ 70 ​ — Net cash used in investing activities ​ (10,383) ​ (2,152) Cash flows from financing activities ​ ​ Proceeds from subordinated notes ​ ​ 18,000 ​ ​ — Repurchase of common stock ​ ​ (377) ​ ​ (743) Settlement of restricted stock ​ ​ (261) ​ ​ (110) Recognition of capitalized subordinated notes issuance costs ​ ​ (269) ​ ​ — Net cash provided by (used in) financing activities ​ 17,093 ​ (853) ​ ​ ​ ​ ​ ​ ​ Net change in cash and cash equivalents ​ 4,969 ​ (368) Cash and cash equivalents, beginning of year ​ 9,301 ​ 9,669 Cash and cash equivalents, end of year ​ $ 14,270 ​ $ 9,301 ​ ​ ​ ​ ​ ​ ​ Supplemental cash flow information: ​ ​ ​ ​ ​ ​ Interest paid on borrowed funds ​ $ 854 ​ $ 476 Segment collapse impact to investment in subsidiary ​ ​ 2,454 ​ ​ — Segment collapse impact to deferred income tax (benefit)/expense ​ ​ 640 ​ ​ — Segment collapse impact to other assets ​ ​ (3,202) ​ ​ — Segment collapse impact to other liabilities ​ $ 108 ​ $ — ​

OTHER NON-INTEREST EXPENSE

OTHER NON-INTEREST EXPENSE	12 Months Ended
	Dec. 31, 2020
OTHER NON-INTEREST EXPENSE
OTHER NON-INTEREST EXPENSE	NOTE 22 – OTHER NON-INTEREST EXPENSE Other non-interest expense as shown in the Consolidated Statements of Income is detailed in the following schedule to the extent the components exceed one percent of the aggregate of total interest income and other non-interest income (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, Other non-interest expense ​ 2020 ​ 2019 Corporate development and related ​ $ 1,517 ​ $ 1,468 Loan and deposit related ​ ​ 1,453 ​ ​ 729 Office supplies and deliveries ​ ​ 277 ​ ​ 223 Other ​ ​ 205 ​ ​ 197 Total other non-interest expense ​ $ 3,452 ​ $ 2,617 ​

REGULATORY CAPITAL MATTERS

REGULATORY CAPITAL MATTERS	12 Months Ended
	Dec. 31, 2020
REGULATORY CAPITAL MATTERS
REGULATORY CAPITAL MATTERS	NOTE 23 - REGULATORY CAPITAL MATTERS First Western and the Bank are subject to various regulatory capital adequacy requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines and, additionally for banks, the regulatory framework for prompt corrective action, First Western and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. First Western and the Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators regarding components, risk weightings and other factors. The final rules implementing Basel Committee on Banking Supervision’s capital guidelines for U.S. banks ("Basel III rules") has been fully phased in. The net unrealized gain or loss on available-for-sale securities is not included in computing regulatory capital. During the year ended December 31, 2020, FWFI made a $10.0 million capital injection into the Bank. Management believes as of December 31, 2020, First Western and the Bank meet all capital adequacy requirements to which it is subject to. Prompt corrective action regulations for First Western and the Bank provide five classifications: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If adequately capitalized, regulatory approval is required to accept brokered deposits. If undercapitalized, capital distributions are limited, as is asset growth and expansion, and capital restoration plans are required. The standard ratios established by First Western and the Bank’s primary regulators to measure capital require First Western and the Bank to maintain minimum amounts and ratios, set forth in the following table. These ratios are common equity Tier 1 capital ("CET 1"), Tier 1 capital and total capital (as defined in the regulations) to risk-weighted assets (as defined), and Tier 1 capital (as defined) to average assets (as defined). The actual capital ratios of First Western and the Bank, along with the applicable regulatory capital requirements as of December 31, 2020, were calculated in accordance with the requirements of Basel III. The final rules of Basel III also established a "capital conservation buffer" of 2.5% above new regulatory minimum capital ratios, which are fully effective following minimum ratios: (i) a CET 1 ratio of 7.0%; (ii) a Tier 1 capital ratio of 8.5%; and (iii) a total capital ratio of 10.5%. Banks are subject to limitations on paying dividends, engaging in share repurchases, and paying discretionary bonuses if its capital level falls below the buffer amount. These limitations establish a maximum percentage of eligible retained income that can be utilized for such activities. As of December 31, 2020, required ratios including the capital conservation buffer were (i) CET 1 of 7.0%; (ii) a Tier 1 capital ratio of 8.5%; and (iii) a total capital ratio of 10.5%. As of December 31, 2020, the most recent filings with the FDIC categorized First Western and the Bank as well capitalized under the regulatory guidelines. To be categorized as well capitalized, an institution must maintain minimum CET 1 risk-based, Tier 1 risk-based, total risk-based, and Tier 1 leverage ratios as set forth in the following table. Management believes there are no conditions or events since December 31, 2020 that have changed the categorization of First Western and the Bank as well capitalized. Management believes First Western and the Bank met all capital adequacy requirements to which it is subject as of December 31, 2020 and December 31, 2019. The following presents the actual and required capital amounts and ratios as of December 31, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ To be Well Capitalized ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Under Prompt ​ ​ ​ ​ ​ ​ ​ Required for Capital ​ Corrective Action ​ ​ Actual ​ Adequacy Purposes (1) ​ Regulations December 31, 2020 Amount Ratio Amount Ratio Amount Ratio Tier 1 capital to risk-weighted assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ $ 133,963 10.22 % $ 78,660 6.0 % $ 104,880 8.0 % Consolidated ​ ​ 131,507 ​ 9.96 ​ ​ N/A ​ N/A ​ ​ N/A ​ N/A ​ CET1 to risk-weighted assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ ​ 133,963 10.22 ​ 58,995 4.5 ​ 85,215 6.5 ​ Consolidated ​ ​ 131,507 ​ 9.96 ​ ​ N/A ​ N/A ​ ​ N/A ​ N/A ​ Total capital to risk-weighted assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ ​ 146,853 11.20 ​ 104,880 8.0 ​ 131,100 10.0 ​ Consolidated ​ ​ 168,957 ​ 12.80 ​ ​ N/A ​ N/A ​ ​ N/A ​ N/A ​ Tier 1 capital to average assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ ​ 133,963 7.62 ​ 70,301 4.0 ​ 87,877 5.0 ​ Consolidated ​ $ 131,507 ​ 7.45 % $ N/A ​ N/A % $ N/A ​ N/A % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ To be Well Capitalized ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Under Prompt ​ ​ ​ ​ ​ ​ ​ Required for Capital ​ Corrective Action ​ ​ Actual ​ Adequacy Purposes (1) ​ Regulations December 31, 2019 ​ Amount Ratio ​ Amount ​ Ratio ​ Amount ​ Ratio Tier 1 capital to risk-weighted assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ $ 99,461 10.67 % $ 55,954 6.0 % $ 74,606 8.0 % Consolidated ​ ​ 105,821 ​ 11.31 ​ ​ N/A ​ N/A ​ ​ N/A ​ N/A ​ CET1 to risk-weighted assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ 99,461 10.67 ​ 41,966 4.5 ​ 60,617 6.5 ​ Consolidated ​ ​ 105,821 ​ 11.31 ​ ​ N/A ​ N/A ​ ​ N/A ​ N/A ​ Total capital to risk-weighted assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ ​ 107,509 11.53 ​ 74,606 8.0 ​ 93,257 10.0 ​ Consolidated ​ ​ 120,429 ​ 12.87 ​ ​ N/A ​ N/A ​ ​ N/A ​ N/A ​ Tier 1 capital to average assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ ​ 99,461 8.09 ​ 49,166 4.0 ​ 61,458 5.0 ​ Consolidated ​ $ 105,821 ​ 8.58 % $ N/A ​ N/A % $ N/A ​ N/A % ______________________________________ (1) Does not include capital conservation buffer .

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2020
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 24 – SUBSEQUENT EVENTS (Unaudited) On January 11, 2021 the SBA reopened the PPP, to First Draw PPP Loans and began accepting applications for Second Draw PPP Loans on January 13, 2021. The PPP is intended to provide loans to small businesses to pay their employees, rent, mortgage interest and utilities. The loans may be forgiven conditioned upon the client providing payroll documentation evidencing their compliant use of funds and otherwise complying with the terms of the program. The Bank is an approved SBA lender and began accepting applications for the reopened program on January 19, 2021. As of February 28, 2021, we had received 660 applications for PPP loans from borrowers for $91.4 million with an average loan size of $0.1 million; of the applications received 410 applications for $68.7 million have been approved and funded by the SBA. *****

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Business and Basis of Presentation	Business and Basis of Presentation FWFI is a bank holding company with financial holding company status registered with the Board of Governors of the Federal Reserve System. FWFI wholly owns the following subsidiaries: First Western Trust Bank (the "Bank") Ryder, Stilwell Inc. ("RSI"), and First Western Capital Management Company ("FWCM"). The Bank wholly owns the following subsidiaries, which are therefore indirectly wholly-owned by FWFI: First Western Merger Corporation ("Merger Corp."), and RRI, LLC ("RRI"). FWCM became inactive during the current year. RSI and RRI are also not active operating entities. The Company provides a fully-integrated suite of wealth management services including private banking, personal trust, investment management, mortgage loans, and institutional asset management services to individual and corporate clients principally in Colorado (metro Denver, Aspen, Boulder, Fort Collins and Vail Valley), Arizona (Phoenix and Scottsdale), California (Century City) and Wyoming (Jackson Hole and Laramie). The Company’s revenues are generated from its full range of product offerings as noted above, but principally from net interest income (the interest income earned on the Bank’s assets net of funding costs), fee-based wealth advisory, investment management, asset management and personal trust services, and net gains earned on mortgage loans. The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") for financial information, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"), and where applicable, reporting practices prescribed for the banking and investment advisory industries.
Consolidation	Consolidation On May 15, 2020, the Company completed a branch purchase and assumption transaction ("Branch Acquisition") with Simmons Bank ("Simmons"). Management concluded that the acquisition represented a business combination, which is accounted for using the acquisition method, with the results of operations included in the Company’s consolidated financial statements as of the acquisition date. For additional information, see Note 2.
Use of Estimates	Use of Estimates ​ The Company could experience a material adverse effect on its business as a result of the impact of the COVID-19 pandemic, and the resulting governmental actions to curtail its spread. It is at least reasonably possible that information which was available at the date of the financial statements will change in the near term due to the COVID-19 pandemic and that the effect of the change would be material to the financial statements. The extent to which the COVID-19 pandemic will impact our estimates and assumptions is highly uncertain.
Concentration of Credit Risk	Concentration of Credit Risk believe it has significant concentrations in any one industry or customer. As of December 31, 2020 and December 31, 2019, 66.9% and 71.7%, respectively, of the Company’s loan portfolio was secured by real estate collateral. Declines in real estate values in the primary markets the Company operates in could negatively impact the Company.
Cash and Cash Equivalents	Cash and Cash Equivalents
Investment Securities	Investment Securities The Company invests in projects to create affordable housing. These investments are classified as Other assets on the Consolidated Balance Sheets. Investments in affordable housing projects that qualify for low-income housing tax credits ("LIHTC") are accounted for using the proportional amortization method. Under the proportional amortization method, the initial cost of the investment is amortized in proportion to the tax credits and other benefits received and recognized as a component of applicable income tax expense in the Consolidated Statements of Income. Net purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities, without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Declines in the fair value of available-for-sale securities below their cost that are deemed to be other-than-temporary are recorded in earnings as realized losses in Non-interest income. ​ Management evaluates securities for other-than-temporary impairment ("OTTI") on a quarterly basis, or more frequently when economic or market conditions warrant such an evaluation. For securities in an unrealized loss position, management considers the extent and duration of the unrealized loss, and the financial condition and near-term prospects of the issuer. Management also assesses whether it intends to sell, or it is more likely than not that it will be required to sell, a security in an unrealized loss position before recovery of its amortized cost basis. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to loss on securities, which must be recognized in the income statement and 2) OTTI related to other factors, which is recognized in other comprehensive income (loss). The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost basis. As of December 31, 2020 and 2019, no securities were determined to be other-than-temporarily impaired. ​ Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method.
Correspondent Bank Stock	Correspondent Bank Stock
Mortgage Loans Held for Sale	Mortgage Loans Held for Sale
Loans	Loans ​ Past Due Loans Interest accrued but not collected is charged off against interest income at the time a loan is placed on non-accrual status. The interest collected on non-accrual loans is accounted for using the cost-recovery method, until qualifying for return to accrual. Under the cost-recovery method, interest income is not recognized until the loan balance is reduced to zero. Loans can be returned to accrual status when there is a sustained period of repayment performance (usually six-months or longer) and the collectability of future payments is reasonably assured. ​ Troubled Debt Restructurings ​ The loan terms which have been modified or restructured due to a borrower’s financial difficulty, include but are not limited to (i) a reduction in the stated interest rate of the loan, (ii) an extension of the maturity date of the loan at an interest rate below market, or (iii) a reduction of the accrued interest. ​ Loan modifications granted by the Company are reviewed on a case-by-case basis to determine if they should be considered a restructured loan. COVID-19 Loan Modifications: As a result of the COVID-19 pandemic, a loan modification program was designed and implemented to assist our clients experiencing financial stress resulting from the economic impacts caused by the global pandemic. The Company was offering loan extensions, temporary payment moratoriums, and financial covenant waivers for commercial and consumer borrowers impacted by the pandemic who have a pass risk rating and have not been delinquent over 30 days on payments in the last two years, primarily for a period of 180 days or less. During 2020, the Company’s loan portfolio included 89 loans totaling $160.8 million, which participated in the Company’s COVID-19 loan modification program. As of December 31, 2020, only two loans remain in their payment deferral term, including acquired loans, in the amount of $2.1 million, representing 0.13% of total loans.
COVID-19 and CARES Act	COVID-19 and CARES Act The CARES Act created the paycheck protection program ("PPP"), which is administered by the Small Business Administration ("SBA"). The PPP is intended to provide loans to small businesses to pay their employees, rent, mortgage interest and utilities. The loans may be forgiven conditioned upon the client providing payroll documentation evidencing their compliant use of funds and otherwise complying with the terms of the program. The Bank is an approved SBA lender and supported the community and clients by originating PPP loans during the year ended December 31, 2020. A second round of PPP funding was made available by the SBA in January 2021 and the Company is originating loans under the new round of funding. PPP loans are classified in the Cash, Securities and Other portion of the loan portfolio. See Note 5 - Loans and the Allowance for Loan Losses for further discussion on our PPP loans. The CARES Act provides banks optional, temporary relief from accounting for certain loan modifications as TDRs. The modifications must be related to the adverse effects of COVID-19, and certain other criteria are required to be met in order to apply the relief. Interagency guidance from Federal Reserve and the Federal Deposit Insurance Corporation ("FDIC") confirmed with the FASB that short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief, are not to be considered a TDR. We believe our loan modification program meets that definition and have not classified any of these modifications as a TDR as of December 31, 2020. In accordance with that guidance, the Company is recognizing interest income on all loans modified for temporary payment moratoriums. See Note 5 - Loans and the Allowance for Loan Losses for further discussion on our loan modification program. All loans modified in response to COVID-19 are classified as performing and pass rated as of December 31, 2020. These loans are included in the allowance for loan loss general reserve in accordance with ASC 450-20. Management has increased our loan level reviews and portfolio monitoring to address the changing environment. The Company continues to meet regularly with clients who could be more highly impacted by the recent COVID-19 pandemic. These are borrowers in industries we believe may be more impacted by the pandemic, for instance those loans where there may be a greater than 50% probability of a downgrade, covenant violation or 20% reduction in collateral position. Management believes the diversity of the loan portfolio is prudent and remains consistent with the credit culture and goals of the Bank. Interest accrued during the modification term on modified loans is deferred to the end of the loan term. As of December 31, 2020, no allowance for loan loss was deemed necessary on the accrued interest balances related to loan modifications. ​ The Company is a participant in the Federal Reserve’s Main Street Lending Program ("MSLP") to support lending to small and medium-sized for profit businesses and nonprofit organizations that were in sound financial condition before the onset of the COVID-19 pandemic. The Company may sell a 95% participation in a new MSLP loan to the Main Street Special Purpose Vehicle ("SPV") at par value. The Company must retain 5% of the MSLP loan until (i) it matures or (ii) neither the Main Street SPV nor a Governmental Assignee holds an interest in MSLP Loan in any capacity, whichever comes first. See Note 5 - Loans and the Allowance for Loan Losses for further discussion on our participation in the program.
Allowance for Loan Losses	Allowance for Loan Losses: ​ The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectability of the loans in light of historical experience, the nature and dollar volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral and prevailing economic conditions. Allocations of the allowance may be made for specific loans, but the entire allowance is available for any loan that, in management’s judgment, should be charged off. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. ​ We are closely monitoring the changing dynamics in the economy and the client impact driven by the COVID-19 pandemic. We have intensified our portfolio management, focusing on higher impacted industries and commercial property types. The portion of our credit exposure to the highest risk industries impacted by COVID-19, such as accommodations, transportation and restaurants, is less than 3.0% of our loan portfolio. The Company has increased our loan level reviews and portfolio monitoring to address the changing environment and continues to engage in more frequent communication with these borrowers to better understand the impact on our borrower’s cash flows and respond proactively. While the length of time some of these businesses are unable to operate or operate at full capacity is unknown, it could have a significant impact on many factors that impact our borrowers and our reserve requirement. During the year ended December 31, 2020, the Company increased its allowance to account for the additional variability surrounding the loan modifications and increased economic uncertainty related to the COVID-19 pandemic. ​ A loan is considered impaired when, based on current information and events, it is probable the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. ​ TDR and non-accrual loans are separately evaluated for impairment and included in the separately identified impairment disclosures. If cash flow dependent, TDR and non-accrual loans will be measured at the present value of estimated future cash flows using the loan’s effective rate at inception. If a TDR or non-accrual loan is considered to be a collateral dependent loan, the loan is reported, net, at the fair value of the collateral. For TDR and non-accrual loans that subsequently default, the Company determines the amount of reserve in accordance with the accounting policy for the allowance for loan losses on loans individually identified as impaired. ​ Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting all scheduled principal and interest payments. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. ​ The allowance for loan losses is comprised of specific loan loss reserves and general loan loss reserves. The impairment of a specific loan is measured based either on (i) the present value of expected future cash flows discounted at the loan’s effective interest rate, or (ii) the fair value of the underlying collateral, less costs to sell, if the repayment is expected to be provided predominantly by the sale of the underlying collateral. Specific impairments are measured on a loan-by-loan basis if risk characteristics are unique to an individual borrower. The general loan loss reserve covers non-impaired loans and is established by evaluating the incurred loss on homogenous pools of loans, not specifically reviewed for impairment as noted above, that have common risk characteristics. The general loan loss reserve is based on historical loss experiences adjusted for nine qualitative factors on all loans in the portfolio not considered impaired. Certain factors are applied to each pool and certain factors are applied to all non-individually reviewed loans. The nine qualitative factors the Company considers are: ​ 1. Changes in relevant economic and business conditions and developments that affect the collectability of the portfolio, including the condition of various market segments. 2. Levels and trends in net charge-offs. 3. The existence and effect of any concentrations of credit and changes in the level of such concentrations. 4. Changes in the nature or volume of the loan portfolio and in the terms of loans. 5. Changes in the experience, ability, and depth of lending management and other relevant staff. 6. Changes in the volume and severity of past due loans. 7. Changes in the quality of the loan review system and associated grading changes. 8. Change in the level of overdrafts. 9. Levels and status of loans modified as a result of COVID-19. The following portfolio segments have been identified: ​ ● Cash, Securities and Other— consists of consumer and commercial purpose loans that are primarily secured by securities managed and under custody with us, cash on deposit with us or life insurance policies. In addition, loans in this portfolio are collateralized with other sources of consumer collateral and an immaterial amount of each loan may be unsecured. This segment of our portfolio is affected by a variety of local and national economic factors affecting borrowers’ employment prospects, income levels, and overall economic sentiment. PPP loans that are fully guaranteed by the SBA are classified within this line item as of December 31, 2020. ● Construction and Development—consists of loans to finance the construction of residential and non-residential properties. These loans are dependent on the strength of the industries of the related borrowers and the risks consistent with construction projects. ● 1-4 Family Residential— consists of loans and home equity lines of credit secured by 1-4 family residential properties. These loans typically enable borrowers to purchase or refinance existing homes, most of which serve as the primary residence of the owner. In addition, some borrowers secure a commercial purpose loan with owner occupied or non-owner occupied 1-4 family residential properties. Loans in this segment are dependent on the industries tied to these loans as well as the national and local economies, and local residential and commercial real estate markets. ● Commercial Real Estate (" CRE ") , Owner Occupied and Non-Owner Occupied—consists of commercial loans collateralized by real estate. These loans may be collateralized by owner occupied or non-owner occupied real estate, as well as multi-family residential real estate. These loans are dependent on the strength of the industries of the related borrowers and the success of their businesses. ● Commercial and Industrial—consists of commercial and industrial loans, including working capital lines of credit, permanent working capital term loans, business asset loans, acquisition, expansion and development loans, and other loan products, primarily in our target markets. This portfolio primarily consists of term loans and lines of credit which are dependent on the strength of the industries of the related borrowers and the success of their businesses. This category includes MSLP loans as of December 31, 2020. The reserve for unfunded commitments represents the estimate for probable loan losses inherent in unfunded commitments to extend credit. Unfunded commitments to extend credit include commercial and standby letters of credit, unused lines of credit, and unfunded loan commitments expected to be funded. The process used to determine the reserve for unfunded commitments is consistent with the process for determining the allowance for loan losses, adjusted for estimated funding probabilities. Changes to the level of the reserve for unfunded commitments are recognized through the provision for loan losses for off-balance sheet credit exposures, included in the non-interest Other expense line of the Consolidated Statements of Income.
Transfers of Financial Assets	Transfers of Financial Assets
Premises and Equipment	Premises and Equipment software are
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets through its acquisition of financial services companies. Goodwill and other indefinite-lived intangible assets are not amortized, but are tested for impairment at the reporting unit level at least annually by applying a fair value-based test using discounted estimated future net cash flows. The Company has selected October 31 as the date to perform its annual impairment tests. Impairment exists when the carrying amount of the goodwill and other intangible assets exceeds their implied fair values. Impairment losses, if any, are recognized as a charge to non-interest expense and an adjustment to the carrying value of the goodwill or other intangible assets. Subsequent reversals of impairment charges are prohibited. Goodwill is the only intangible asset with an indefinite life on the Company’s Consolidated Balance Sheets. Other definite-lived intangible assets, including customer relationship intangibles, are amortized on a straight-line basis over periods representing the estimated remaining lives of the assets of one
Accounts Receivable	Accounts Receivable
Other Receivables	Other Receivables
Leases	Leases
Other Real Estate Owned	Other Real Estate Owned
Company-Owned Life Insurance	Company-Owned Life Insurance
Mortgage Banking Derivatives	Mortgage Banking Derivatives
Stock-Based Compensation	Stock-Based Compensation Compensation cost is recognized over the required service period, generally defined as the vesting period. For awards with graded vesting, compensation cost is recognized on a straight-line basis over the requisite service period for the entire award. The Company’s policy is to recognize forfeitures as they occur.
Income Taxes	Income Taxes The Company recognizes tax benefits from uncertain tax positions when it is more-likely-than-not, based on the technical merits of the position, the tax position will be sustained upon examination, including the resolution of any appeals or litigation. Tax benefits recognized in the consolidated financial statements from such a position are measured as the largest benefit that has a greater than fifty percent likelihood of being realized upon resolution. The Company may from time to time be assessed interest or penalties by major tax jurisdictions, although any such assessments have historically been minimal and immaterial to financial results. The Company classifies interest and penalties, if any, as a component of income tax expense.
Comprehensive Income	Comprehensive Income
Earnings per Common Share	Earnings per Common Share
Loan Commitments and Related Financial Instruments	Loan Commitments and Related Financial Instruments
Loss Contingencies	Loss Contingencies
Fair Value of Financial Instruments	Fair Value of Financial Instruments
Revenue Recognition	Revenue Recognition
Transition of LIBOR to an Alternative Reference Rate	Transition of LIBOR to an Alternative Reference Rate Certain of the Company’s assets and liabilities are indexed to LIBOR, with exposure extending past December 31, 2021. The Company is currently evaluating and planning for the eventual replacement of the LIBOR benchmark interest rate, including the possibility of SOFR as the dominant replacement. In general, the transition away from LIBOR may result in increased market risk, credit risk, operational risk and business risk for the Company. The Company has developed a LIBOR transition plan, which addresses governance, risk management, legal, operational, systems and operations, fallback language, and other aspects of planning. The Company has prepared a timeline to transition from LIBOR before the end of 2021.
Restrictions on Cash	Restrictions on Cash
Reclassifications	Reclassifications
Recently adopted accounting pronouncements and Recently issued accounting pronouncements, not yet adopted	Recently adopted accounting pronouncements In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement—Changes to the Disclosure Requirements for Fair Value Measurement (Topic 820) ("ASU 2018-13"). ASU 2018-13 modifies the disclosure requirements on fair value measurements by requiring that Level 3 fair value disclosures include the range and weighted average of significant unobservable inputs used to develop those fair value measurements. For certain unobservable inputs, an entity may disclose other quantitative information in lieu of the weighted average if the entity determines that other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop Level 3 fair value measurements. ASU 2018-13 was effective for the Company on January 1, 2020 and did not have a material impact on the Company’s financial statement disclosures. In April 2020, the FASB Reference Rate Reform (Topic 848): ASU 2020-04"), ASU 2020-04 is intended to provide relief for companies preparing for discontinuation of interest rates based on LIBOR. The ASU provides optional expedients and exceptions for applying GAAP to contract modifications and hedging relationships, subject to meeting certain criteria, that reference LIBOR or other reference rates expected to be discontinued. ASU 2020-04 also provides for a one-time sale and/or transfer to available-for-sale or trading to be made for held-to-maturity debt securities that both reference an eligible reference rate and were classified as held-to-maturity before January 1, 2020. ASU 2020-04 was effective for all entities as of March 12, 2020 and through December 31, 2022. Companies can apply the ASU as of the beginning of the interim period that includes March 12, 2020 or any date thereafter. The guidance requires companies to apply the guidance prospectively to contract modifications and hedging relationships while the one-time election to sell and/or transfer debt securities classified as held-to-maturity may be made any time after March 12, 2020. ASU 2020-04 ​ Recently issued accounting pronouncements, not yet adopted In February 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments, as amended ("ASU 2016-13"). ASU 2016-13 replaces the incurred loss model with an expected loss model, which is referred to as the current expected credit loss ("CECL") model. The CECL model is applicable to the measurement of credit losses on the financial assets measured at amortized cost, including loan receivables, held-to-maturity debt securities, and reinsurance receivables. It also applies to off-balance sheet credit exposures not accounted for as insurance (loan commitments, standby letters of credit, financial guarantees, and other similar instruments) and net investments in leases recognized by a lessor. For all other assets within the scope of CECL, a cumulative-effect adjustment will be recognized in retained earnings and the allowance for loan losses as of the beginning of the first reporting period in which the guidance is effective. ASU 2016-13 was set to be effective for most public companies on January 1, 2020. However, at the October 16, 2019 FASB meeting, the FASB voted unanimously to delay the effective date of CECL adoption for smaller reporting companies ("SRCs") to January 1, 2023. During the year ended December 31, 2020, the CECL committee of the Company continued to work through its implementation plan. The Company has integrated historical and current loan level data as required by CECL and is working with its third-party vendor solution to begin evaluating the methodologies available under the CECL model on its loan portfolios. The Company also continues to evaluate documentation requirements, internal control structure, relevant data sources, and system configurations. The Company has completed a successful integration of the required fields and historical data for key loan, client and collateral data within the third-party solution and has been able to run parallels of our current allowance for loan losses calculation in the software to compare to our internal calculation and reconcile known differences. The Company has started the process of selecting the methodologies to be used for each segment of its loan portfolio and started preliminarily testing to determine the impact of each methodology. Currently, we are unable to estimate the impact the adoption of this update will have on the consolidated financial statements and disclosures. However, the Company expects the impact of the adoption will be significantly influenced by the composition and characteristics of its loan portfolios along with economic conditions prevalent as of the date of adoption. The Company expects to implement the new standard beginning January 1, 2023. In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognizing an impairment charge of the amount by which the carrying amount exceeds the reporting unit’s fair value, not to exceed the total amount of goodwill allocated to that reporting unit. ASU 2017-04 was set to be effective for the Company on January 1, 2021. However, ASU 2019-10 amended the mandatory effective date for ASU 2014-07 to January 1, 2023 for SRC’s, with earlier adoption permitted. This update is not expected to have a significant impact on the financial statements and disclosures.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2020
ACQUISITIONS
Estimated fair value of assets acquired and liabilities assumed	​ ​ ​ ​ ​ ​ ​ May 15, Fair value of consideration transferred ​ 2020 Cash consideration ​ $ 61,599 Total fair value of consideration transferred ​ ​ 61,599 ​ ​ ​ ​ Assets acquired ​ ​ ​ Cash and due from banks ​ ​ 283 Loans, net ​ ​ 119,552 Core deposit intangible (1) ​ ​ 53 Accrued income and other assets ​ ​ 382 Total assets acquired ​ ​ 120,270 ​ ​ ​ ​ Liabilities assumed ​ ​ ​ Deposits ​ ​ 63,080 Accrued expenses and other liabilities ​ 96 Total liabilities assumed ​ ​ 63,176 Net assets acquired ​ ​ 57,094 Goodwill recognized ​ $ 4,505 _____________________________________ (1) The core deposit intangible was determined to have an estimated life of 10 years .
Schedule of composition of acquired loan portfolio	​ ​ ​ ​ ​ ​ ​ May 15, ​ 2020 Cash, Securities and Other (1) ​ $ 13,457 Construction and Development ​ 40,407 1-4 Family Residential ​ 7,252 Non-Owner Occupied CRE ​ 545 Owner Occupied CRE ​ ​ 321 Commercial and Industrial ​ ​ 58,660 Total gross loans ​ $ 120,642 _____________________________________ (1) Includes $12.9 million in PPP loans.

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2020
INVESTMENT SECURITIES
Schedule of the amortized cost and fair value of securities available for sale, with gross unrealized gains and losses recognized	The following presents the amortized cost and fair value of securities available-for-sale, with gross unrealized gains and losses recognized in accumulated other comprehensive income as of December 31, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair December 31, 2020 ​ Cost ​ Gains ​ Losses ​ Value Investment securities available-for-sale: ​ ​ ​ ​ U.S. Treasury debt ​ $ 250 ​ $ 4 ​ $ — ​ $ 254 Corporate bonds ​ ​ 6,000 ​ ​ 55 ​ ​ (11) ​ ​ 6,044 Government National Mortgage Association ("GNMA") mortgage-backed securities – residential ​ 23,806 ​ 798 ​ — ​ 24,604 Federal National Mortgage Association ("FNMA") mortgage-backed securities – residential ​ ​ 1,616 ​ ​ 61 ​ ​ — ​ ​ 1,677 Corporate collateralized mortgage obligations ("CMO") and mortgage-backed securities ("MBS") ​ 4,078 ​ 62 ​ (53) ​ 4,087 Total securities available-for-sale ​ $ 35,750 ​ $ 980 ​ $ (64) ​ $ 36,666 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair December 31, 2019 ​ Cost ​ Gains ​ Losses ​ Value Investment securities available-for-sale: ​ ​ ​ ​ U.S. Treasury debt ​ $ 250 ​ $ 4 ​ $ — ​ $ 254 GNMA mortgage-backed securities – residential ​ 45,490 ​ 157 ​ (335) ​ 45,312 FNMA mortgage-backed securities – residential ​ ​ 2,935 ​ 11 ​ (29) ​ ​ 2,917 CMO and MBS ​ 10,425 ​ 40 ​ (45) ​ 10,420 Total securities available-for-sale ​ $ 59,100 ​ $ 212 ​ $ (409) ​ $ 58,903
Summary of the amortized cost and estimated fair value of available for sale securities, excluding SBIC with contractual maturity dates	​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized Fair December 31, 2020 ​ Cost ​ Value Due within one year ​ $ 250 ​ $ 254 Due between one year and five years ​ ​ 1,250 ​ ​ 1,245 Due between five years and ten years ​ ​ 4,750 ​ ​ 4,799 Securities (agency, CMO, and MBS) ​ 29,500 ​ 30,368 Total ​ $ 35,750 ​ $ 36,666
Summary of securities with unrealized losses aggregated by major security type and length of time in a continuous unrealized loss position	The following table summarizes securities with unrealized losses as of December 31, 2020 and December 31, 2019, aggregated by major security type and length of time in a continuous unrealized loss position (in thousands, before tax): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months 12 Months or Longer Total ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized December 31, 2020 ​ Value ​ Losses ​ Value ​ Losses ​ Value Losses Corporate bonds ​ ​ 3,489 ​ ​ (11) ​ ​ — ​ ​ — ​ ​ 3,489 ​ (11) Corporate CMO and MBS ​ 880 ​ (40) ​ 566 ​ (13) ​ 1,446 ​ (53) Total ​ $ 4,369 ​ $ (51) ​ $ 566 ​ $ (13) ​ $ 4,935 ​ $ (64) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Less than 12 Months 12 Months or Longer Total ​ ​ Fair ​ Unrealized ​ Fair ​ Unrealized ​ Fair ​ Unrealized December 31, 2019 Value ​ Losses ​ Value ​ Losses Value Losses GNMA mortgage-backed securities - residential ​ $ 28,203 ​ $ (193) ​ $ 4,450 ​ $ (142) ​ $ 32,653 ​ $ (335) FNMA mortgage-backed securities - residential ​ ​ — ​ ​ — ​ ​ 2,347 ​ ​ (29) ​ ​ 2,347 ​ ​ (29) Corporate CMO and MBS ​ 7,780 ​ (45) ​ — ​ — ​ 7,780 ​ (45) Total ​ $ 35,983 ​ $ (238) ​ $ 6,797 ​ $ (171) ​ $ 42,780 ​ $ (409)

CORRESPONDENT BANK STOCK (Table

CORRESPONDENT BANK STOCK (Tables)	12 Months Ended
	Dec. 31, 2020
CORRESPONDENT BANK STOCK
Summary of company's investment in correspondent bank stock	The following presents the Company’s investments in correspondent bank stock, as of the dates noted (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2020 ​ 2019 FHLB ​ $ 2,522 ​ $ 559 BBW ​ 30 ​ 26 Total ​ $ 2,552 ​ $ 585

LOANS AND THE ALLOWANCE FOR L_2

LOANS AND THE ALLOWANCE FOR LOAN LOSSES (Tables)	12 Months Ended
	Dec. 31, 2020
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
Summary of the Company's loans	The following presents a summary of the Company’s loans as of the dates noted (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2020 2019 Cash, Securities and Other (1) ​ $ 357,020 ​ $ 146,701 Construction and Development ​ 131,111 ​ 28,120 1-4 Family Residential ​ 455,038 ​ 400,134 Non-Owner Occupied CRE ​ 281,943 ​ 165,179 Owner Occupied CRE ​ ​ 163,042 ​ ​ 127,968 Commercial and Industrial (2) ​ ​ 146,031 ​ ​ 128,457 Total loans held for investment ​ 1,534,185 ​ 996,559 Deferred costs (fees) and unamortized premiums/(unaccreted discounts), net ​ (1,352) ​ 1,448 Allowance for loan losses ​ (12,539) ​ (7,875) Loans, net ​ $ 1,520,294 ​ $ 990,132 ______________________________________ (1) (2)
Schedule of loan modifications	The following presents loans in their deferral period under the Company’s COVID-19 loan modification program as of December 31, 2020 (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Loans ​ # of Loans Modified ​ Outstanding Balance of Modified Loans ​ % of Total Loan Balance Modified ​ Cash, Securities and Other ​ $ 357,020 ​ ​ — ​ $ — ​ ​ — % Construction and Development ​ 131,111 ​ ​ — ​ ​ — ​ ​ — ​ 1-4 Family Residential ​ 455,038 ​ ​ 1 ​ ​ 346 ​ ​ 0.02 ​ Non-Owner Occupied CRE ​ ​ 281,943 ​ ​ — ​ ​ — ​ ​ — ​ Owner Occupied CRE ​ ​ 163,042 ​ ​ 1 ​ ​ 1,716 ​ ​ 0.11 ​ Commercial and Industrial ​ 146,031 ​ ​ — ​ ​ — ​ ​ — ​ Total Loans ​ $ 1,534,185 ​ ​ 2 ​ $ 2,062 ​ ​ 0.13 %
Summary of aging analysis of the recorded investments in loans past due	The following presents, by class, an aging analysis of the recorded investments (excluding accrued interest receivable, deferred costs (fees), and unamortized premiums/ (unaccreted discounts) which are not material) in loans past due as of December 31, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30-59 60-89 90 or Total ​ ​ Total ​ ​ Days ​ Days ​ More Days ​ Loans ​ ​ ​ ​ Recorded December 31, 2020 ​ Past Due ​ Past Due ​ Past Due ​ Past Due ​ Current ​ Investment Cash, Securities and Other ​ $ 752 ​ $ — ​ $ 48 ​ $ 800 ​ $ 356,220 ​ $ 357,020 Construction and Development ​ — ​ ​ — ​ ​ — ​ — ​ 131,111 ​ 131,111 1-4 Family Residential ​ 1,283 ​ ​ — ​ ​ — ​ 1,283 ​ 453,755 ​ 455,038 Non-Owner Occupied CRE ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 281,943 ​ ​ 281,943 Owner Occupied CRE ​ ​ 479 ​ ​ — ​ ​ — ​ ​ 479 ​ ​ 162,563 ​ ​ 163,042 Commercial and Industrial ​ 271 ​ ​ — ​ ​ 3,529 ​ 3,800 ​ 142,231 ​ 146,031 Total ​ $ 2,785 ​ $ — ​ $ 3,577 ​ $ 6,362 ​ $ 1,527,823 ​ $ 1,534,185 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30-59 60-89 90 or Total ​ ​ Total ​ ​ Days ​ Days ​ More Days ​ Loans ​ ​ ​ ​ Recorded December 31, 2019 ​ Past Due ​ Past Due ​ Past Due ​ Past Due ​ Current ​ Investment Cash, Securities and Other ​ $ 525 ​ $ — ​ $ — ​ $ 525 ​ $ 146,176 ​ $ 146,701 Construction and Development ​ — ​ — ​ — ​ — ​ 28,120 ​ 28,120 1-4 Family Residential ​ 5,688 ​ — ​ — ​ 5,688 ​ 394,446 ​ 400,134 Non-Owner Occupied CRE ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 165,179 ​ ​ 165,179 Owner Occupied CRE ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 127,968 ​ ​ 127,968 Commercial and Industrial ​ — ​ 3,110 ​ 907 ​ 4,017 ​ 124,440 ​ 128,457 Total ​ $ 6,213 ​ $ 3,110 ​ $ 907 ​ $ 10,230 ​ $ 986,329 ​ $ 996,559
Schedule of recorded investment in non accrual loans by class	The following presents the recorded investment in non-accrual loans by class as of the dates noted (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2020 2019 Cash, Securities and Other ​ $ 50 ​ $ 2,803 Owner Occupied CRE ​ ​ 479 ​ ​ — Commercial and Industrial ​ 3,529 ​ 4,412 Total ​ $ 4,058 ​ $ 7,215
Summary of the unpaid principal balance of loans classified as TDRs	The following presents a summary of the unpaid principal balance of loans classified as TDRs as of the dates noted (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2020 2019 Accruing ​ ​ ​ ​ ​ ​ Commercial and Industrial ​ $ — ​ $ 5,055 Non-accrual ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ ​ 48 ​ ​ 2,803 Commercial and Industrial ​ ​ 3,529 ​ ​ 4,412 Total ​ ​ 3,577 ​ ​ 12,270 Allowance for loan losses associated with TDR ​ (1,619) ​ (833) Net recorded investment ​ $ 1,958 ​ $ 11,437
Summary of impaired loans by portfolio and related valuation allowance	The following table presents impaired loans by portfolio and related valuation allowance as of the periods presented (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ December 31, 2019 ​ ​ ​ Unpaid Allowance ​ ​ ​ Unpaid Allowance ​ ​ Total ​ Contractual ​ for ​ Total ​ Contractual ​ for ​ ​ Recorded ​ Principal ​ Loan ​ Recorded ​ Principal ​ Loan ​ ​ Investment ​ Balance ​ Losses ​ Investment ​ Balance ​ Losses Impaired loans with a valuation allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 2 ​ $ 2 ​ $ 2 ​ $ — ​ $ — ​ $ — Commercial and Industrial ​ ​ 3,419 ​ ​ 3,419 ​ ​ 1,619 ​ ​ 4,412 ​ ​ 4,412 ​ ​ 833 Total ​ $ 3,421 ​ $ 3,421 ​ $ 1,621 ​ $ 4,412 ​ $ 4,412 ​ $ 833 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans with no related valuation allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 48 ​ $ 48 ​ $ — ​ $ 2,803 ​ $ 2,803 ​ $ — Owner Occupied CRE ​ ​ 479 ​ ​ 479 ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial and Industrial ​ ​ 110 ​ ​ 110 ​ ​ — ​ ​ 5,055 ​ ​ 5,055 ​ ​ — Total ​ $ 637 ​ $ 637 ​ $ — ​ $ 7,858 ​ $ 7,858 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total impaired loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 50 ​ $ 50 ​ $ 2 ​ $ 2,803 ​ $ 2,803 ​ $ — Owner Occupied CRE ​ ​ 479 ​ ​ 479 ​ ​ — ​ ​ — ​ ​ — ​ ​ — Commercial and Industrial ​ ​ 3,529 ​ ​ 3,529 ​ ​ 1,619 ​ ​ 9,467 ​ ​ 9,467 ​ ​ 833 Total ​ $ 4,058 ​ $ 4,058 ​ $ 1,621 ​ $ 12,270 ​ $ 12,270 ​ $ 833 The average balance of impaired loans and interest income recognized on impaired loans during the years ended December 31, 2020 and 2019 are included in the table below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2020 ​ 2019 ​ ​ Average ​ Interest ​ Average ​ Interest ​ ​ Recorded ​ Income ​ Recorded ​ Income ​ ​ Investment ​ Recognized ​ Investment ​ Recognized Impaired loans with a valuation allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 1 ​ $ — ​ $ — ​ $ — Commercial and Industrial ​ ​ 3,453 ​ ​ — ​ ​ 1,686 ​ ​ — Total ​ $ 3,454 ​ $ — ​ $ 1,686 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans with no related valuation allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 1,180 ​ $ — ​ $ 6,217 ​ $ — Owner Occupied CRE ​ ​ 96 ​ ​ — ​ ​ — ​ ​ — Commercial and Industrial ​ ​ 4,893 ​ ​ 336 ​ ​ 4,499 ​ ​ 427 Total ​ $ 6,169 ​ $ 336 ​ $ 10,716 ​ $ 427 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total impaired loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 1,181 ​ $ — ​ $ 6,217 ​ $ — Owner Occupied CRE ​ ​ 96 ​ ​ — ​ ​ — ​ ​ — Commercial and Industrial ​ ​ 8,346 ​ ​ 336 ​ ​ 6,185 ​ ​ 427 Total ​ $ 9,623 ​ $ 336 ​ $ 12,402 ​ $ 427
Schedule of activity in the Company's allowance for loan losses by portfolio class	Allocation of a portion of the allowance for loan losses to one category of loans does not preclude its availability to absorb losses in other categories. The following presents the activity in the Company’s allowance for loan losses by portfolio class for the periods presented (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, ​ Construction ​ 1-4 ​ Non-Owner ​ Owner ​ Commercial ​ ​ ​ ​ Securities ​ and ​ Family ​ Occupied ​ Occupied ​ and ​ ​ ​ and Other ​ Development ​ Residential ​ CRE ​ CRE ​ Industrial ​ Total Changes in allowance for loan losses for the year ended December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 1,058 ​ $ 200 ​ $ 2,850 ​ $ 1,176 ​ $ 911 ​ $ 1,680 ​ $ 7,875 Provision for loan losses ​ 1,539 ​ 732 ​ 383 ​ 828 ​ 248 ​ 952 ​ 4,682 Charge-offs ​ (31) ​ — ​ — ​ — ​ — ​ — ​ (31) Recoveries ​ 13 ​ — ​ — ​ — ​ — ​ — ​ 13 Ending balance ​ $ 2,579 ​ $ 932 ​ $ 3,233 ​ $ 2,004 ​ $ 1,159 ​ $ 2,632 ​ $ 12,539 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses as of December 31, 2020 allocated to loans evaluated for impairment: ​ ​ ​ ​ ​ ​ ​ Individually ​ $ 2 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,619 ​ $ 1,621 Collectively ​ 2,577 ​ 932 ​ 3,233 ​ 2,004 ​ 1,159 ​ 1,013 ​ 10,918 Ending balance ​ $ 2,579 ​ $ 932 ​ $ 3,233 ​ $ 2,004 ​ $ 1,159 ​ $ 2,632 ​ $ 12,539 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans as of December 31, 2020, evaluated for impairment: ​ ​ ​ ​ ​ ​ ​ Individually ​ $ 50 ​ $ — ​ $ — ​ $ 479 ​ $ — ​ $ 3,529 ​ $ 4,058 Collectively ​ 356,970 ​ 131,111 ​ 455,038 ​ 281,464 ​ 163,042 ​ 142,502 ​ 1,530,127 Ending balance ​ $ 357,020 ​ $ 131,111 ​ $ 455,038 ​ $ 281,943 ​ $ 163,042 ​ $ 146,031 ​ $ 1,534,185 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, ​ Construction ​ 1-4 ​ Non-Owner ​ Owner ​ Commercial ​ ​ ​ ​ Securities ​ and ​ Family ​ Occupied ​ Occupied ​ and ​ ​ ​ and Other ​ Development ​ Residential ​ CRE ​ CRE ​ Industrial ​ Total Changes in allowance for loan losses for the year ended December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 764 ​ $ 232 ​ $ 2,552 ​ $ 1,264 ​ $ 789 ​ $ 1,850 ​ $ 7,451 Provision for (recovery of) loan losses ​ 532 ​ (32) ​ 298 ​ (88) ​ 122 ​ (170) ​ 662 Charge-offs ​ (248) ​ — ​ — ​ — ​ — ​ — ​ (248) Recoveries ​ 10 ​ — ​ — ​ — ​ — ​ — ​ 10 Ending balance ​ $ 1,058 ​ $ 200 ​ $ 2,850 ​ $ 1,176 ​ $ 911 ​ $ 1,680 ​ $ 7,875 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses as of December 31, 2019 allocated to loans evaluated for impairment: ​ ​ ​ ​ ​ ​ ​ Individually ​ $ — ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 833 ​ $ 833 Collectively ​ 1,058 ​ 200 ​ 2,850 ​ 1,176 ​ 911 ​ 847 ​ 7,042 Ending balance ​ $ 1,058 ​ $ 200 ​ $ 2,850 ​ $ 1,176 ​ $ 911 ​ $ 1,680 ​ $ 7,875 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans as of December 31, 2019, evaluated for impairment: ​ ​ ​ ​ ​ ​ ​ Individually ​ $ 2,803 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 9,467 ​ $ 12,270 Collectively ​ 143,898 ​ 28,120 ​ 400,134 ​ 165,179 ​ 127,968 ​ 118,990 ​ 984,289 Ending balance ​ $ 146,701 ​ $ 28,120 ​ $ 400,134 ​ $ 165,179 ​ $ 127,968 ​ $ 128,457 ​ $ 996,559
Summary of recorded investment in the Company's loans by class and by credit quality indicator	Loans not meeting any of the three criteria above are considered to be pass-rated loans. The following presents, by class and by credit quality indicator, the recorded investment in the Company’s loans as of December 31, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ December 31, 2020 Pass Mention Substandard ​ Total Cash, Securities and Other ​ $ 356,970 ​ $ — ​ $ 50 ​ $ 357,020 Construction and Development ​ 131,111 ​ — ​ — ​ 131,111 1-4 Family Residential ​ ​ 451,918 ​ ​ — ​ ​ 3,120 ​ ​ 455,038 Non-Owner Occupied CRE ​ ​ 275,627 ​ ​ 6,316 ​ ​ — ​ ​ 281,943 Owner Occupied CRE ​ ​ 161,850 ​ ​ — ​ ​ 1,192 ​ ​ 163,042 Commercial and Industrial ​ 140,432 ​ — ​ 5,599 ​ 146,031 Total ​ $ 1,517,908 ​ $ 6,316 ​ $ 9,961 ​ $ 1,534,185 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ December 31, 2019 Pass Mention Substandard ​ Total Cash, Securities and Other ​ $ 143,898 ​ $ — ​ $ 2,803 ​ $ 146,701 Construction and Development ​ ​ 28,120 ​ — ​ — ​ ​ 28,120 1-4 Family Residential ​ ​ 395,224 ​ ​ — ​ ​ 4,910 ​ ​ 400,134 Non-Owner Occupied CRE ​ ​ 164,021 ​ ​ 1,158 ​ ​ — ​ ​ 165,179 Owner Occupied CRE ​ 127,968 ​ ​ — ​ ​ — ​ 127,968 Commercial and Industrial ​ 114,241 ​ — ​ 14,216 ​ 128,457 Total ​ $ 973,472 ​ $ 1,158 ​ $ 21,929 ​ $ 996,559

PREMISES AND EQUIPMENT, NET (Ta

PREMISES AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2020
PREMISES AND EQUIPMENT, NET
Schedule of premises and equipment	The following presents a summary of the cost and accumulated depreciation of premises and equipment as of December 31 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Leasehold improvements, including artwork ​ $ 9,440 ​ $ 10,174 Equipment and software ​ 5,504 ​ 4,658 Gross premise and equipment ​ 14,944 ​ 14,832 Less: accumulated depreciation ​ (9,624) ​ (9,614) Premises and equipment, net ​ $ 5,320 ​ $ 5,218

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2020
GOODWILL AND OTHER INTANGIBLE ASSETS
Schedule of changes in carrying amount of goodwill	Changes in the carrying amount of goodwill were as follows as of December 31 (in thousands): ​ ​ ​ ​ ​ ​ ​ 2020 ​ 2019 Beginning balance $ 19,686 ​ $ 24,811 Impairment (1) ​ — ​ ​ (1,572) Reclass to held for sale (1) ​ — ​ ​ (3,553) Acquisition activity ​ 4,505 ​ ​ — Ending balance $ 24,191 ​ $ 19,686 ______________________________________ (1)
Schedule of intangible assets and accumulated amortization	The following presents the Company’s intangible assets and related accumulated amortization as of December 31 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Other intangibles ​ $ 4,593 ​ $ 4,540 Less: accumulated amortization on other intangibles ​ (4,526) ​ (4,512) Other intangible assets, net ​ $ 67 ​ $ 28
Schedule of estimated amortization expense	​ ​ ​ ​ ​ Year ​ ​ Expense 2021 ​ $ 17 Thereafter ​ ​ 50 Total ​ $ 67

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2020
LEASES
Lease Balance Sheet Location	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ ​ ​ 2020 ​ 2019 Lease Right-of-Use Assets Classification ​ ​ ​ ​ ​ ​ Operating lease right-of-use assets Other assets ​ $ 11,341 ​ $ 10,308 ​ ​ ​ ​ ​ ​ ​ ​ Lease Liabilities Classification ​ ​ ​ ​ ​ ​ Operating lease liabilities Other liabilities ​ $ 13,970 ​ $ 13,480
Schedule Of Weighted Average Lease Term And Discount Rate	​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2020 ​ 2019 Weighted-Average Remaining Lease Term ​ ​ ​ ​ ​ Operating leases 4.79 years ​ 4.91 years ​ ​ ​ ​ ​ ​ Weighted-Average Discount Rate ​ ​ ​ ​ ​ Operating leases 3.04 % ​ 3.71 %
Lease Costs	​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 ​ 2019 Lease Costs ​ ​ ​ ​ ​ Operating lease cost $ 3,162 ​ $ 3,186 Variable lease cost ​ 1,894 ​ ​ 1,513 Sublease income ​ (232) ​ ​ (397) Lease costs, net $ 4,824 ​ $ 4,302 ​
Schedule of Minimum Lease Payments Due	The following table presents a maturity analysis of the Company’s operating lease liabilities on an annual basis for each of the next five years and total amounts thereafter as of December 31, 2020. ​ ​ ​ ​ ​ Year Ended December 31, ​ Operating Leases 2021 ​ $ 3,323 2022 ​ 3,239 2023 ​ ​ 2,937 2024 ​ 2,785 2025 ​ 1,783 Thereafter ​ 867 Total future minimum lease payments ​ $ 14,934 Less: imputed interest ​ ​ (964) Present value of net future minimum lease payments ​ $ 13,970

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2020
DEPOSITS
Schedule of interest bearing deposits	The following presents the Company’s interest bearing deposits as of December 31, 2020 and 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2020 2019 Money market deposit accounts ​ $ 847,430 ​ $ 615,575 Time deposits ​ 172,682 ​ 134,913 Negotiable order of withdrawal accounts ​ 113,052 ​ 91,921 Savings accounts ​ 5,289 ​ 4,307 Total interest-bearing deposits ​ $ 1,138,453 ​ $ 846,716 Aggregate time deposits of $250,000 or greater ​ $ 73,401 ​ $ 61,596
Schedule Of Time Deposit Maturities	The following presents the scheduled maturities of all time deposits for the next five years ending December 31 (in thousands): ​ ​ ​ ​ ​ Year Ending December 31, ​ Time Deposits 2021 ​ $ 125,238 2022 ​ 23,065 2023 ​ 20,115 2024 ​ 2,550 2025 ​ 1,691 Thereafter ​ 23 Total ​ $ 172,682

BORROWINGS (Tables)

BORROWINGS (Tables)	12 Months Ended
	Dec. 31, 2020
BORROWINGS
Schedule of borrowings from FHLB Topeka	The Company had the following required maturities on FHLB borrowings as of the dates noted (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, Maturity Date Rate % 2020 2019 August 26, 2020 ​ 1.94 ​ ​ — ​ ​ 10,000 April 22, 2022 ​ 0.37 ​ ​ 5,000 ​ ​ — May 5, 2023 ​ 0.76 ​ ​ 10,000 ​ ​ — Total ​ $ 15,000 ​ $ 10,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2020
COMMITMENTS AND CONTINGENCIES
Schedule of contract amounts represent credit risk	The following presents the Company’s financial instruments whose contract amounts represent credit risk, as of the dates noted (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ December 31, 2019 ​ Fixed Rate Variable Rate Fixed Rate Variable Rate Unused lines of credit ​ $ 78,506 ​ $ 360,883 ​ $ 32,896 ​ $ 290,653 Standby letters of credit ​ ​ 1,933 ​ ​ 17,524 ​ ​ 1,759 ​ ​ 24,197 Commitments to make loans to sell ​ ​ 370,512 ​ ​ — ​ ​ 47,354 ​ ​ — Commitments to make loans ​ $ 24,225 ​ $ 25,316 ​ $ — ​ $ —

SHAREHOLDERS EQUITY (Tables)

SHAREHOLDERS EQUITY (Tables)	12 Months Ended
	Dec. 31, 2020
SHAREHOLDERS EQUITY
Schedule of summarizes activity for nonqualified stock options	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ Number ​ Average ​ Remaining ​ Aggregate ​ ​ of ​ Exercise ​ Contractual ​ Intrinsic ​ Options Price Term Value Outstanding as of December 31, 2019 ​ 419,197 ​ $ 29.02 ​ ​ ​ ​ Granted ​ — ​ ​ — ​ ​ ​ ​ Exercised ​ — ​ ​ — ​ ​ ​ ​ Forfeited or expired ​ — ​ ​ — ​ ​ ​ ​ Outstanding as of December 31, 2020 ​ 419,197 ​ $ 29.02 ​ 2.5 ​ (1) Options fully vested / exercisable as of December 31, 2020 ​ 414,727 ​ $ 29.04 ​ 2.5 ​ (1) (a) Nonqualified stock options outstanding at the end of the period and those fully vested / exercisable had immaterial aggregate intrinsic values.
Schedule of summarizes the activity for the Time Vesting Units, the Financial Performance Units and the Market Performance Units	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time ​ Financial ​ Market ​ ​ Vesting ​ Performance ​ Performance ​ Units Units Units Outstanding as of December 31, 2019 ​ 209,444 ​ 69,426 ​ 14,862 Granted ​ 132,775 ​ 84,027 ​ — Vested ​ (54,753) ​ — ​ — Forfeited ​ (2,414) ​ (1,023) ​ — Outstanding as of December 31, 2020 ​ 285,052 ​ 152,430 ​ 14,862
Schedule of financial performance units activity	The following presents the Company’s existing Financial Performance Units as of December 31, 2020 (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Grant Period ​ Threshold accrual Maximum issuable shares at current threshold ​ Unrecognized compensation expense ​ Weighted-Average (1) ​ Financial metric end date ​ Vesting requirement end date Prior to May 1, 2019 ​ 50% on half; 100% on other half 10,035 ​ $ 79 ​ 1.0 years ​ December 31, 2019 ​ December 31, 2021 May 1, 2019 through April 30, 2020 ​ 150% 86,148 ​ ​ 527 ​ 3.1 years ​ December 31, 2021 ​ December 31, 2023 May 1, 2020 through December 31, 2020, excluding November 18, 2020 ​ 150% 87,675 ​ ​ 627 ​ 4.0 years ​ December 31, 2022 ​ December 31, 2023 On November 18, 2020 ​ 126% 29,268 ​ $ 397 ​ 3.9 years ​ December 31, 2022 ​ 50% November 18, 2023 & 2025 ________________ (1) The following presents the Company’s Financial Performance Units activity for the years noted December 31 (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Units Granted ​ Compensation expense recognized Grant Period ​ 2020 2019 ​ 2020 ​ 2019 Prior to May 1, 2019 ​ — — ​ $ 64 ​ $ * May 1, 2019 through April 30, 2020 ​ 1,866 62,569 ​ ​ 312 ​ ​ 110 May 1, 2020 through December 31, 2020, excluding November 18, 2020 ​ 58,993 — ​ ​ 156 ​ ​ — On November 18, 2020 ​ 23,168 — ​ $ 17 ​ $ — ________________ *Not meaningful

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	12 Months Ended
	Dec. 31, 2020
EARNINGS PER COMMON SHARE
Schedule of basic and diluted earning (loss) per share	The table below presents the calculation of basic and diluted earnings per common share for the periods indicated (amounts in thousands, except share and per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 2019 Earnings per common share - Basic ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ Net income ​ $ 24,534 $ 8,009 Net income available for common shareholders ​ $ 24,534 $ 8,009 ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ Basic weighted average shares ​ 7,899,278 7,890,266 Earnings per common share - basic ​ $ 3.11 ​ $ 1.02 ​ ​ ​ ​ ​ ​ ​ Earnings per common share - Diluted ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ Net income ​ $ 24,534 $ 8,009 Net income available for common shareholders ​ $ 24,534 $ 8,009 ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ Basic weighted average shares ​ ​ 7,899,278 ​ ​ 7,890,266 Diluted effect of common stock equivalents: ​ ​ ​ ​ ​ ​ Time Vesting Units ​ $ 32,995 ​ $ 9,315 Financial Performance Units ​ ​ 16,160 ​ ​ 2,071 Market Performance Units ​ ​ 13,471 ​ ​ 13,309 Total diluted effect of common stock equivalents ​ ​ 62,626 ​ ​ 24,695 Diluted weighted average shares ​ 7,961,904 7,914,961 Earnings per common share - diluted ​ $ 3.08 ​ $ 1.01
Schedule of Antidilutive securities	​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2020 ​ 2019 Stock options ​ 419,197 ​ ​ 433,572 Time Vesting Units ​ 88,121 ​ ​ 144,560 Financial Performance Units ​ 70,397 ​ ​ 35,256 Restricted Stock Awards ​ 36,401 ​ ​ 78,202 Total potentially dilutive securities ​ 614,116 ​ ​ 691,590

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2020
INCOME TAXES
Schedule of income tax expense (benefit)	The components of the Company’s income tax expense as of December 31 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Current: ​ ​ Federal ​ $ 7,970 ​ $ 3,076 State and local ​ 1,859 ​ 323 Total current tax expense ​ 9,829 ​ 3,399 Deferred: ​ ​ ​ ​ ​ ​ Federal ​ ​ (1,392) ​ ​ (1,338) State and local ​ (280) ​ 122 Valuation allowance ​ 372 ​ — Total deferred (benefit) tax ​ (1,300) ​ (1,216) Income tax expense ​ $ 8,529 ​ $ 2,183
Schedule of reconciliation of income tax (expense) benefit	The following is a reconciliation of income taxes reflected on the Consolidated Statements of Income for the years ended December 31, 2020 and 2019 with income tax expense computed by applying the United States federal income tax rate of 21% to income before income taxes (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Income tax expense computed at 21% statutory rate ​ $ 6,943 ​ $ 2,140 Differences: ​ ​ Permanent differences ​ (57) ​ (30) State taxes, net of federal expense ​ 1,150 ​ 394 Low income housing investment ​ ​ (36) ​ ​ — Valuation allowance ​ ​ 372 ​ ​ — Other, net (1) ​ 157 ​ (321) Income tax expense ​ $ 8,529 ​ $ 2,183 (1) Includes the impact of R&D tax credits.
Schedule of principal components of deferred tax assets (liabilities)	The following were the principal components of the Company’s deferred tax items as of December 31 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ 2020 2019 Deferred tax assets: ​ ​ Net operating loss carryforwards ​ $ 577 ​ $ 545 Allowance for loan losses ​ 3,054 ​ 1,925 Deferred rent ​ 635 ​ 797 Stock-based compensation ​ 1,613 ​ 1,400 Provision on other real estate owned ​ 484 ​ 438 Other intangible assets ​ 615 ​ 723 Unrealized losses on securities, net ​ — ​ 55 Accrued bonuses ​ 898 ​ 474 Loan fees ​ 244 ​ 352 Other ​ 553 ​ 685 Total deferred tax assets ​ 8,673 ​ 7,394 Deferred tax liabilities: ​ ​ Goodwill ​ ​ (1,013) ​ ​ (1,354) Depreciation ​ ​ (904) ​ ​ (961) Unrealized gains on securities, net ​ ​ (236) ​ ​ — Other ​ (92) ​ (32) Total deferred tax liabilities ​ (2,245) ​ (2,347) Net operating loss valuation allowance ​ ​ (372) ​ ​ — Net deferred tax asset ​ $ 6,056 ​ $ 5,047

RELATED-PARTY TRANSACTIONS (Tab

RELATED-PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2020
RELATED-PARTY TRANSACTIONS
Summary of related-party loan activity	​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 December 31, 2019 Balance, beginning of year ​ $ 5,675 ​ $ 2,659 Funded loans ​ 17,348 ​ 11,618 Payments collected ​ (8,702) ​ (8,602) Balance, end of year ​ $ 14,321 ​ $ 5,675

FAIR VALUE (Tables)

FAIR VALUE (Tables)	12 Months Ended
	Dec. 31, 2020
Schedule of fair value assets and liabilities measured on recurring basis	The following presents assets and liabilities measured on a recurring basis as of December 31, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Other ​ Significant ​ ​ ​ ​ ​ for Identical ​ Observable ​ Unobservable ​ ​ ​ ​ ​ Assets ​ Inputs ​ Inputs ​ Reported December 31, 2020 ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Balance Investment securities available-for-sale: ​ ​ ​ ​ U.S. Treasury debt ​ $ 254 ​ $ — ​ $ — ​ $ 254 Corporate bonds ​ ​ — ​ ​ 6,044 ​ ​ — ​ ​ 6,044 GNMA mortgage-backed securities - residential ​ ​ — ​ ​ 24,604 ​ ​ — ​ ​ 24,604 FNMA mortgage-backed securities - residential ​ ​ — ​ ​ 1,677 ​ ​ — ​ ​ 1,677 Corporate CMO and MBS ​ ​ — ​ ​ 4,087 ​ ​ — ​ ​ 4,087 Total securities available-for-sale ​ $ 254 ​ $ 36,412 ​ $ — ​ $ 36,666 Equity securities ​ $ 730 ​ $ — ​ $ — ​ $ 730 Guarantee asset ​ $ — ​ $ — ​ $ 232 ​ $ 232 IRLC and FSC, net ​ $ — ​ $ — ​ $ 9,752 ​ $ 9,752 Guarantee liability ​ $ — ​ $ — ​ $ (125) ​ $ (125) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Other ​ Significant ​ ​ ​ ​ ​ for Identical ​ Observable ​ Unobservable ​ ​ ​ ​ ​ Assets ​ Inputs ​ Inputs ​ Reported December 31, 2019 ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Balance Investment securities available-for-sale: ​ ​ ​ ​ U.S. Treasury debt ​ $ 254 ​ $ — ​ $ — ​ $ 254 GNMA mortgage-backed securities - residential ​ ​ — ​ ​ 45,312 ​ ​ — ​ ​ 45,312 FNMA mortgage-backed securities - residential ​ ​ — ​ ​ 2,917 ​ ​ — ​ ​ 2,917 Corporate CMO and MBS ​ ​ — ​ ​ 10,420 ​ ​ — ​ ​ 10,420 Total securities available-for-sale ​ $ 254 ​ $ 58,649 ​ $ — ​ $ 58,903 Equity securities ​ $ 713 ​ $ — ​ $ — ​ $ 713 IRLC and FSC, net ​ $ — ​ $ — ​ $ 1,184 ​ $ 1,184
Summary of assets and liability for level 3 instruments measured at fair value on recurring basis	The following presents a reconciliation for Level 3 instruments measured at fair value on a recurring basis (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2020 Guarantee Asset ​ IRLC and FSC, Net ​ Guarantee Liability Beginning balance ​ $ — ​ $ 1,184 ​ $ — Acquisitions ​ ​ — ​ ​ 44,763 ​ ​ — Originations ​ ​ — ​ ​ (39,985) ​ ​ — Sales ​ ​ 245 ​ ​ — ​ ​ 244 Gains (losses) in net income, net ​ ​ 55 ​ ​ 3,790 ​ ​ (119) Other settlements ​ ​ (68) ​ ​ — ​ ​ — Ending balance ​ $ 232 ​ $ 9,752 ​ $ 125 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2019 Guarantee Asset IRLC and FSC, Net Guarantee Liability Beginning balance ​ $ — ​ $ 421 ​ $ — Acquisitions ​ — ​ ​ 13,094 ​ ​ — Originations ​ — ​ ​ (10,009) ​ ​ — Losses in net income, net ​ ​ — ​ ​ (2,322) ​ ​ — Ending balance ​ $ — ​ $ 1,184 ​ $ —
Summary of assets measured at fair value on nonrecurring basis	The following presents assets measured on a nonrecurring basis as of December 31, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Other ​ Significant ​ ​ ​ ​ ​ for Identical ​ Observable ​ Unobservable ​ ​ ​ ​ ​ Assets ​ Inputs ​ Inputs ​ Reported December 31, 2020 ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Balance Other real estate owned: ​ ​ ​ ​ Commercial properties ​ $ — ​ $ — ​ $ 194 ​ $ 194 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total impaired loans (1) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and Industrial ​ $ — ​ $ — ​ $ 1,800 ​ $ 1,800 ______________________________________ (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Other ​ Significant ​ ​ ​ ​ ​ for Identical ​ Observable ​ Unobservable ​ ​ ​ ​ ​ Assets ​ Inputs ​ Inputs ​ Reported December 31, 2019 ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Balance Other real estate owned: ​ ​ ​ ​ Commercial properties ​ $ — ​ $ — ​ $ 658 ​ $ 658 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total impaired loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and Industrial ​ $ — ​ $ — ​ $ 3,579 ​ $ 3,579
Summary of assets and liabilities measured at fair value on a recurring or nonrecurring, the significant unobservable inputs	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements as of December 31, 2020 ​ ​ ​ ​ ​ Valuation ​ Significant ​ Range ​ ​ Fair Value ​ Technique ​ Unobservable Input ​ (Weighted Average) Other real estate owned: ​ ​ ​ ​ Commercial properties ​ $ 194 ​ ​ Sales contract ​ ​ Commission, cost to sell, closing costs ​ ​ 5% (5%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total impaired loans (1) : ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and Industrial ​ $ 1,800 ​ ​ Sales comparison, Market approach - guideline transaction method ​ ​ Management discount for asset/property type ​ ​ 17% - 35% (26%) ______________________________________ (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements as of December 31, 2019 ​ ​ ​ ​ ​ Valuation ​ Significant ​ Range ​ ​ Fair Value ​ Technique ​ Unobservable Input ​ (Weighted Average) Other real estate owned: ​ ​ ​ ​ Commercial properties ​ $ 658 ​ ​ Appraisal value ​ ​ Discount rate ​ ​ 50% (50%) ​ ​ ​ ​ ​ ​ ​ ​ ​ Commission and cost to sell ​ ​ 1% - 10% (7%) Total impaired loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and Industrial ​ $ 3,579 ​ ​ Sales comparison, Market approach - guideline transaction method ​ ​ Management discount for asset/property type ​ ​ 0% - 50% (23%)
Summary of carrying amounts and estimated fair values of financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements as of December 31, 2019 ​ ​ ​ ​ ​ Valuation ​ Significant ​ Range ​ ​ Fair Value ​ Technique ​ Unobservable Input ​ (Weighted Average) Other real estate owned: ​ ​ ​ ​ Commercial properties ​ $ 658 ​ ​ Appraisal value ​ ​ Discount rate ​ ​ 50% (50%) ​ ​ ​ ​ ​ ​ ​ ​ ​ Commission and cost to sell ​ ​ 1% - 10% (7%) Total impaired loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and Industrial ​ $ 3,579 ​ ​ Sales comparison, Market approach - guideline transaction method ​ ​ Management discount for asset/property type ​ ​ 0% - 50% (23%)
Recurring
Summary of assets and liabilities measured at fair value on a recurring or nonrecurring, the significant unobservable inputs	The following presents quantitative information about Level 3 assets measured on a recurring basis as of December 31, 2020 and 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements as of December 31, 2020 ​ ​ ​ ​ ​ Valuation ​ Significant ​ Range ​ ​ Fair Value ​ Technique ​ Unobservable Input ​ (Weighted Average) Guarantee asset ​ $ 232 ​ ​ Discounted cash flow ​ ​ Discount rate ​ ​ 3% (3%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ IRLC and FSC, net ​ ​ 9,752 ​ ​ Best execution model ​ ​ Pull through ​ ​ 55% - 100% (86%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Guarantee liability ​ $ (125) ​ ​ Discounted cash flow ​ ​ Discount rate ​ ​ 3% (3%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements as of December 31, 2019 ​ ​ ​ ​ ​ Valuation ​ Significant ​ Range ​ ​ Fair Value ​ Technique ​ Unobservable Input ​ (Weighted Average) IRLC and FSC, net ​ $ 1,184 ​ ​ Best execution model ​ ​ Pull through ​ ​ 75% - 100% (88%)

ASSETS AND OTHER LIABILITIES _2

ASSETS AND OTHER LIABILITIES CLASSIFIED AS HELD FOR SALE (Tables)	12 Months Ended
	Dec. 31, 2020
ASSETS AND OTHER LIABILITIES CLASSIFIED AS HELD FOR SALE
Schedule of assets and liabilities in disposal groups held for sale	Intangible assets and other liabilities in disposal groups held for sale are as follows at the dates noted (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ December 31, ​ 2020 ​ 2019 ASSETS ​ ​ ​ Goodwill ​ $ — ​ $ 3,553 Assets in disposal groups held for sale ​ $ — ​ $ 3,553 ​ ​ ​ ​ ​ ​ ​ LIABILITIES ​ ​ Other liabilities ​ $ — ​ $ 117 Liabilities in disposal groups held for sale ​ $ — ​ $ 117

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	12 Months Ended
	Dec. 31, 2020
SEGMENT REPORTING
Schedule of segment data	The tables below present the financial information for each segment that is specifically identifiable or based on allocations using internal methods for the years ended December 31, 2020 and 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2020 ​ Wealth (1) ​ Mortgage ​ Consolidated Income Statement ​ ​ ​ ​ ​ ​ ​ ​ ​ Total interest income $ 53,334 $ — $ 53,334 Total interest expense ​ ​ 7,232 ​ ​ — ​ 7,232 Provision for loan losses ​ ​ 4,682 ​ ​ — ​ 4,682 Net interest income, after provision for loan losses ​ ​ 41,420 ​ ​ — ​ 41,420 Non-interest income ​ ​ 21,836 ​ ​ 29,344 ​ 51,180 Total income ​ ​ 63,256 ​ ​ 29,344 ​ 92,600 Depreciation and amortization expense ​ ​ 1,035 ​ ​ 70 ​ 1,105 All other non-interest expense ​ ​ 50,135 (2) ​ 8,297 ​ 58,432 Income before income tax ​ $ 12,086 ​ $ 20,977 $ 33,063 ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 24,191 ​ $ — $ 24,191 Total assets ​ $ 1,798,416 ​ $ 175,239 $ 1,973,655 ______________________________________ (1) Includes financial information previously reported under the Capital Management segment. (2) Includes loss on assets held for sale of $0.6 million and $0.2 million SEC penalty in the previously reported Capital Management segment. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2019 ​ Wealth (1) ​ Mortgage Consolidated Income Statement ​ ​ ​ ​ ​ ​ ​ ​ Total interest income $ 45,051 ​ $ — $ 45,051 Total interest expense ​ ​ 12,990 ​ ​ — ​ 12,990 Provision for loan losses ​ ​ 662 ​ ​ — ​ 662 Net interest income, after provision for loan losses ​ ​ 31,399 ​ ​ — ​ 31,399 Non-interest income ​ ​ 21,902 ​ ​ 10,675 ​ 32,577 Total income ​ ​ 53,301 ​ ​ 10,675 ​ 63,976 Depreciation and amortization expense ​ ​ 1,453 ​ ​ 218 ​ 1,671 All other non-interest expense ​ ​ 45,696 (2) ​ 6,417 ​ 52,113 Income (loss) before income tax ​ $ 6,152 ​ $ 4,040 $ 10,192 ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 19,686 ​ $ — $ 19,686 Assets held for sale ​ ​ 3,553 ​ ​ — ​ ​ 3,553 Total assets ​ $ 1,204,620 ​ $ 47,062 $ 1,251,682 _________________________________________________ (1) Includes financial information previously reported under the Capital Management segment. (2) Includes goodwill impairment charge of $1.6 million in the previously reported Capital Management segment.

CONDENSED FINANCIAL STATEMENT_2

CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY (Tables)	12 Months Ended
	Dec. 31, 2020
CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY
Condensed Balance Sheets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, Condensed Balance Sheets 2020 ​ 2019 ASSETS ​ ​ Cash and cash equivalents $ 14,270 $ 9,301 Investment in subsidiaries ​ ​ 157,377 ​ ​ 122,792 Loans, net ​ ​ 2,021 ​ ​ 2,091 Other assets ​ ​ 4,075 ​ ​ 597 Total assets ​ $ 177,743 ​ $ 134,781 LIABILITIES ​ ​ Subordinated notes ​ $ 24,291 ​ $ 6,560 Other liabilities (1) ​ (1,510) ​ 543 Total liabilities ​ 22,781 ​ 7,103 SHAREHOLDERS’ EQUITY ​ ​ Total shareholders’ equity ​ 154,962 ​ 127,678 Total liabilities and shareholders’ equity ​ $ 177,743 ​ $ 134,781 _________________________________________________ (1)
Condensed Statements of Income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, Condensed Statements of Income 2020 ​ 2019 Income ​ ​ Interest income ​ $ 87 ​ $ 93 Non-interest income ​ ​ (1) ​ ​ — Total income ​ ​ 86 ​ ​ 93 Expense ​ ​ Interest expense ​ 854 ​ 476 Non-interest expense ​ ​ 355 ​ ​ 267 Total expense ​ 1,209 ​ 743 Loss before income tax and equity in undistributed income of subsidiaries ​ (1,123) ​ (650) Income tax benefit ​ (85) ​ 49 Loss before equity in undistributed income of subsidiaries ​ ​ (1,208) ​ ​ (601) Equity in undistributed income to subsidiaries ​ 25,742 ​ 8,610 Net income ​ $ 24,534 ​ $ 8,009
Condensed Statements of Cash Flows	​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, Condensed Statements of Cash Flows ​ 2020 ​ 2019 Cash flows from operating activities ​ ​ Net income ​ $ 24,534 ​ $ 8,009 Adjustments: ​ ​ ​ ​ ​ ​ Current & deferred income tax (benefit)/expense ​ ​ (3,003) ​ ​ 282 Stock-based compensation ​ ​ 2,544 ​ ​ 2,291 Undistributed equity in subsidiaries ​ ​ (25,742) ​ ​ (8,610) Change in other assets ​ (32) ​ 665 Change in other liabilities ​ ​ (42) ​ ​ — Net cash (used in) provided by operating activities ​ (1,741) ​ 2,637 Cash flows from investing activities ​ ​ ​ ​ ​ ​ Investment in subsidiaries ​ ​ (10,453) ​ ​ (2,152) Loan and note receivable originations and principal collections ​ 70 ​ — Net cash used in investing activities ​ (10,383) ​ (2,152) Cash flows from financing activities ​ ​ Proceeds from subordinated notes ​ ​ 18,000 ​ ​ — Repurchase of common stock ​ ​ (377) ​ ​ (743) Settlement of restricted stock ​ ​ (261) ​ ​ (110) Recognition of capitalized subordinated notes issuance costs ​ ​ (269) ​ ​ — Net cash provided by (used in) financing activities ​ 17,093 ​ (853) ​ ​ ​ ​ ​ ​ ​ Net change in cash and cash equivalents ​ 4,969 ​ (368) Cash and cash equivalents, beginning of year ​ 9,301 ​ 9,669 Cash and cash equivalents, end of year ​ $ 14,270 ​ $ 9,301 ​ ​ ​ ​ ​ ​ ​ Supplemental cash flow information: ​ ​ ​ ​ ​ ​ Interest paid on borrowed funds ​ $ 854 ​ $ 476 Segment collapse impact to investment in subsidiary ​ ​ 2,454 ​ ​ — Segment collapse impact to deferred income tax (benefit)/expense ​ ​ 640 ​ ​ — Segment collapse impact to other assets ​ ​ (3,202) ​ ​ — Segment collapse impact to other liabilities ​ $ 108 ​ $ —

OTHER NON-INTEREST EXPENSE (Tab

OTHER NON-INTEREST EXPENSE (Tables)	12 Months Ended
	Dec. 31, 2020
OTHER NON-INTEREST EXPENSE
Other Non-interest expense	Other non-interest expense as shown in the Consolidated Statements of Income is detailed in the following schedule to the extent the components exceed one percent of the aggregate of total interest income and other non-interest income (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, Other non-interest expense ​ 2020 ​ 2019 Corporate development and related ​ $ 1,517 ​ $ 1,468 Loan and deposit related ​ ​ 1,453 ​ ​ 729 Office supplies and deliveries ​ ​ 277 ​ ​ 223 Other ​ ​ 205 ​ ​ 197 Total other non-interest expense ​ $ 3,452 ​ $ 2,617

REGULATORY CAPITAL MATTERS (Tab

REGULATORY CAPITAL MATTERS (Tables)	12 Months Ended
	Dec. 31, 2020
REGULATORY CAPITAL MATTERS
Schedule of actual and required capital ratios	The following presents the actual and required capital amounts and ratios as of December 31, 2020 and December 31, 2019 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ To be Well Capitalized ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Under Prompt ​ ​ ​ ​ ​ ​ ​ Required for Capital ​ Corrective Action ​ ​ Actual ​ Adequacy Purposes (1) ​ Regulations December 31, 2020 Amount Ratio Amount Ratio Amount Ratio Tier 1 capital to risk-weighted assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ $ 133,963 10.22 % $ 78,660 6.0 % $ 104,880 8.0 % Consolidated ​ ​ 131,507 ​ 9.96 ​ ​ N/A ​ N/A ​ ​ N/A ​ N/A ​ CET1 to risk-weighted assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ ​ 133,963 10.22 ​ 58,995 4.5 ​ 85,215 6.5 ​ Consolidated ​ ​ 131,507 ​ 9.96 ​ ​ N/A ​ N/A ​ ​ N/A ​ N/A ​ Total capital to risk-weighted assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ ​ 146,853 11.20 ​ 104,880 8.0 ​ 131,100 10.0 ​ Consolidated ​ ​ 168,957 ​ 12.80 ​ ​ N/A ​ N/A ​ ​ N/A ​ N/A ​ Tier 1 capital to average assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ ​ 133,963 7.62 ​ 70,301 4.0 ​ 87,877 5.0 ​ Consolidated ​ $ 131,507 ​ 7.45 % $ N/A ​ N/A % $ N/A ​ N/A % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ To be Well Capitalized ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Under Prompt ​ ​ ​ ​ ​ ​ ​ Required for Capital ​ Corrective Action ​ ​ Actual ​ Adequacy Purposes (1) ​ Regulations December 31, 2019 ​ Amount Ratio ​ Amount ​ Ratio ​ Amount ​ Ratio Tier 1 capital to risk-weighted assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ $ 99,461 10.67 % $ 55,954 6.0 % $ 74,606 8.0 % Consolidated ​ ​ 105,821 ​ 11.31 ​ ​ N/A ​ N/A ​ ​ N/A ​ N/A ​ CET1 to risk-weighted assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ 99,461 10.67 ​ 41,966 4.5 ​ 60,617 6.5 ​ Consolidated ​ ​ 105,821 ​ 11.31 ​ ​ N/A ​ N/A ​ ​ N/A ​ N/A ​ Total capital to risk-weighted assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ ​ 107,509 11.53 ​ 74,606 8.0 ​ 93,257 10.0 ​ Consolidated ​ ​ 120,429 ​ 12.87 ​ ​ N/A ​ N/A ​ ​ N/A ​ N/A ​ Tier 1 capital to average assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ ​ 99,461 8.09 ​ 49,166 4.0 ​ 61,458 5.0 ​ Consolidated ​ $ 105,821 ​ 8.58 % $ N/A ​ N/A % $ N/A ​ N/A % ______________________________________ (1) Does not include capital conservation buffer .

ORGANIZATION AND SUMMARY OF S_3

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Concentration of Credit Risk (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)security	Dec. 31, 2019USD ($)security
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Number Of Securities Determined To Be Other Than Temporarily Impaired | security	0	0
Impairment Of Correspondent Bank Stock | $	$ 0	$ 0
Customer concentration | Loan portfolio
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Concentration risk (as a percent)	66.90%	71.70%

ORGANIZATION AND SUMMARY OF S_4

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Covid-19 Loan Modifications (Details)	12 Months Ended
	Dec. 31, 2020USD ($)loan
Number of loans modified | loan	2
Loan deferral amount	$ 2,100,000
Percentage of probability	50.00%
Percentage of reduction in collateral position	20.00%
Portion of loan portfolio exposed to high risk industries impacted by Covid-19	$ 3
COVID-19
# of Loans Modified | loan	89
Outstanding Balance of Modified Loans	$ 160,800,000
Number of loans modified | loan	2
Loan deferral amount	$ 2,062,000
% of Total Loan Balance Modified	0.13%

ORGANIZATION AND SUMMARY OF S_5

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Premises and Equipment (Details)	12 Months Ended
	Dec. 31, 2020
Minimum | Leasehold improvements, including artwork
PREMISES AND EQUIPMENT, NET
Property, Plant and Equipment, Useful Life	7 years
Minimum | Furniture/equipment [Member]
PREMISES AND EQUIPMENT, NET
Property, Plant and Equipment, Useful Life	3 years
Minimum | Software [Member]
PREMISES AND EQUIPMENT, NET
Property, Plant and Equipment, Useful Life	3 years
Maximum | Leasehold improvements, including artwork
PREMISES AND EQUIPMENT, NET
Property, Plant and Equipment, Useful Life	15 years
Maximum | Furniture/equipment [Member]
PREMISES AND EQUIPMENT, NET
Property, Plant and Equipment, Useful Life	7 years
Maximum | Software [Member]
PREMISES AND EQUIPMENT, NET
Property, Plant and Equipment, Useful Life	7 years

ORGANIZATION AND SUMMARY OF S_6

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Goodwill and Other Intangible Assets (Details)	12 Months Ended
	Dec. 31, 2020
Minimum
Finite-Lived Intangible Assets, Remaining Amortization Period	1 year
Maximum
Finite-Lived Intangible Assets, Remaining Amortization Period	15 years

ORGANIZATION AND SUMMARY OF S_7

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Operating Lease, Liability	$ 13,970	$ 13,480
Operating Lease, Right-of-Use Asset	$ 11,341	$ 10,308

ACQUISITIONS (Details)

ACQUISITIONS (Details)	May 15, 2020USD ($)	Sep. 30, 2020itemOffice	Dec. 31, 2020USD ($)	Feb. 10, 2020item	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Business Acquisition [Line Items]
Goodwill	$ 4,500,000		$ 24,191,000		$ 19,686,000	$ 24,811,000
Simmons Bank
Business Acquisition [Line Items]
Number of branches acquired | item				3
Number of branches closed | item		2
Loan production offices acquired | item				1
Loan production offices closed | Office		1
Purchase consideration	$ 61,599,000
Deposit premium	6.06%
Goodwill	$ 4,505,000
Loans, net	119,552,000
Contractual balance	120,600,000
Discount on loans	$ 1,100,000
Discount on loans (in percent)	0.90%
Allowance for Loan and Lease Losses, Loans Acquired	$ 0

ACQUISITIONS - Fair Value (Deta

ACQUISITIONS - Fair Value (Details) - USD ($) $ in Thousands	May 15, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Liabilities assumed
Deposits		$ 63,100
Goodwill	$ 4,500	24,191	$ 19,686	$ 24,811
Total gross loans		1,534,185	996,559
Cash, Securities and Other
Liabilities assumed
Total gross loans		357,020	146,701
Construction and Development
Liabilities assumed
Total gross loans		131,111	28,120
1-4 Family Residential
Liabilities assumed
Total gross loans		455,038	400,134
Non-Owner Occupied CRE
Liabilities assumed
Total gross loans		281,943	165,179
Owner Occupied CRE
Liabilities assumed
Total gross loans		163,042	127,968
Commercial and Industrial
Liabilities assumed
Total gross loans		146,031	$ 128,457
PPP Loans
Liabilities assumed
Total gross loans		142,900
Simmons Bank
Business Acquisition [Line Items]
Cash consideration	61,599
Total fair value of consideration transferred	61,599
Assets acquired
Cash and due from banks	283
Loans, net	119,552
Core deposit intangible	53
Accrued income and other assets	382
Total assets acquired	120,270
Liabilities assumed
Deposits	63,080
Accrued expenses and other liabilities	96
Total liabilities assumed	63,176
Net assets acquired	57,094
Goodwill	4,505
Total gross loans	120,642	127,200
Acquisition cost		$ 900
Simmons Bank | Cash, Securities and Other
Liabilities assumed
Total gross loans	13,457
Simmons Bank | Construction and Development
Liabilities assumed
Total gross loans	40,407
Simmons Bank | 1-4 Family Residential
Liabilities assumed
Total gross loans	7,252
Simmons Bank | Non-Owner Occupied CRE
Liabilities assumed
Total gross loans	545
Simmons Bank | Owner Occupied CRE
Liabilities assumed
Total gross loans	321
Simmons Bank | Commercial and Industrial
Liabilities assumed
Total gross loans	58,660
Simmons Bank | PPP Loans
Liabilities assumed
Total gross loans	$ 12,900
Core deposit
Liabilities assumed
Estimated life	10 years

INVESTMENT SECURITIES - Amortiz

INVESTMENT SECURITIES - Amortized cost and fair value of securities available-for-sale (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 35,750	$ 59,100
Gross Unrealized Gains	980	212
Gross Unrealized Losses	(64)	(409)
Fair Value	36,666	58,903
Amortization of Premium and discounts, net	400	200
U.S. Treasury debt
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	250	250
Gross Unrealized Gains	4	4
Fair Value	254	254
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	6,000
Gross Unrealized Gains	55
Gross Unrealized Losses	(11)
Fair Value	6,044
Association ("GNMA") mortgage-backed securities - residential
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	23,806	45,490
Gross Unrealized Gains	798	157
Gross Unrealized Losses		(335)
Fair Value	24,604	45,312
Federal National Mortgage Association ("FNMA") mortgage-backed securities - residential
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,616	2,935
Gross Unrealized Gains	61	11
Gross Unrealized Losses		(29)
Fair Value	1,677	2,917
Corporate collateralized mortgage obligations ("CMO") and mortgage-backed securities ("MBS")
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4,078	10,425
Gross Unrealized Gains	62	40
Gross Unrealized Losses	(53)	(45)
Fair Value	4,087	10,420
Small Business Investment Company
Debt Securities, Available-for-sale [Line Items]
Payments to Acquire Investments	500	400
Contractual Obligation	900
Other Assets [Member] | Small Business Investment Company
Debt Securities, Available-for-sale [Line Items]
Balance with SBIC included in other assets	$ 2,100	$ 1,600

INVESTMENT SECURITIES - Amort_2

INVESTMENT SECURITIES - Amortized cost and estimated fair value of available-for-sale securities excluding SBIC (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)security	Dec. 31, 2019USD ($)security
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 35,750	$ 59,100
Fair Value	36,666	58,903
Debt available for sale securities pledged as collateral	$ 3,700	$ 5,500
Threshold Percentage Of Shareholders Equity Amount Held As Securities By One Issuer	10.00%	10.00%
Unrealized loss	$ 64	$ 409
Number of securities in continuous unrealized loss position for more than twelve months | security	2
Available for sale securities, excluding SBIC
Debt Securities, Available-for-sale [Line Items]
Due within one year amortized cost	$ 250
Due between one year through five years amortized cost	1,250
Due between five years and ten years amortised cost	4,750
Due within one year fair value	254
Due after one year through five years fair value	1,245
Due between five years and ten years fair value	4,799
Mortgage-related securities, amortized cost	29,500
Mortgage-related securities, fair value	30,368
Amortized Cost	35,750
Fair Value	$ 36,666
Number of securities in unrealized loss position | security	7	26

INVESTMENT SECURITIES - Securit

INVESTMENT SECURITIES - Securities with unrealized losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	$ 4,369	$ 35,983
Less than 12 months, Unrealized Losses	(51)	(238)
12 months or Longer, Fair Value	566	6,797
12 months or Longer, Unrealized Losses	(13)	(171)
Total Fair Value	4,935	42,780
Total Unrealized Losses	(64)	(409)
Sales	0	7,506
Realized gains		100
Realized losses		0
Association ("GNMA") mortgage-backed securities - residential
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value		28,203
Less than 12 months, Unrealized Losses		(193)
12 months or Longer, Fair Value		4,450
12 months or Longer, Unrealized Losses		(142)
Total Fair Value		32,653
Total Unrealized Losses		(335)
Federal National Mortgage Association ("FNMA") mortgage-backed securities - residential
Debt Securities, Available-for-sale [Line Items]
12 months or Longer, Fair Value		2,347
12 months or Longer, Unrealized Losses		(29)
Total Fair Value		2,347
Total Unrealized Losses		(29)
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	3,489
Less than 12 months, Unrealized Losses	(11)
Total Fair Value	3,489
Total Unrealized Losses	(11)
Corporate collateralized mortgage obligations ("CMO") and mortgage-backed securities ("MBS")
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	880	7,780
Less than 12 months, Unrealized Losses	(40)	(45)
12 months or Longer, Fair Value	566
12 months or Longer, Unrealized Losses	(13)
Total Fair Value	1,446	7,780
Total Unrealized Losses	$ (53)	$ (45)

CORRESPONDENT BANK STOCK - CORR

CORRESPONDENT BANK STOCK - CORRESPONDENT BANK STOCK (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
CORRESPONDENT BANK STOCK
Correspondent bank stock, at cost	$ 2,552	$ 585
FHLB Topeka
CORRESPONDENT BANK STOCK
Correspondent bank stock, at cost	2,522	559
BBW
CORRESPONDENT BANK STOCK
Correspondent bank stock, at cost	$ 30	$ 26

LOANS AND THE ALLOWANCE FOR L_3

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Summary of loans (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)loan	May 15, 2020USD ($)	Dec. 31, 2019USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	$ 1,534,185		$ 996,559
Deferred costs, net	(1,352)		1,448
Allowance for loan losses	(12,539)		(7,875)
Net loans	1,520,294		990,132
Loans, net	1,520,294		990,132
Simmons Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	127,200	$ 120,642
Cash, Securities and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	357,020		146,701
Cash, Securities and Other | Simmons Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans		13,457
Construction and Development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	131,111		28,120
Construction and Development | Simmons Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans		40,407
1-4 Family Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	455,038		400,134
1-4 Family Residential | Simmons Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans		7,252
Non-Owner Occupied CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	281,943		165,179
Non-Owner Occupied CRE | Simmons Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans		545
Owner Occupied CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	163,042		127,968
Owner Occupied CRE | Simmons Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans		321
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	146,031		$ 128,457
Commercial and Industrial | Simmons Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans		58,660
PPP Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	142,900
PPP Loans | Simmons Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans		$ 12,900
PPP Loans | Cash, Securities and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	$ 142,900
Percent of Loans on Total Loan Segment	40.00%
MSLP loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	$ 6,600
Percent of Loans on Total Loan Segment	4.50%
COVID-19
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	$ 1,534,185
COVID-19 | Cash, Securities and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	357,020
COVID-19 | Construction and Development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	131,111
COVID-19 | 1-4 Family Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	455,038
COVID-19 | Non-Owner Occupied CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	281,943
COVID-19 | Owner Occupied CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	163,042
COVID-19 | Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	146,031
COVID-19 | MSLP loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Net loans	6,600
Loans, net	$ 6,600
Number of loans | loan	6

LOANS AND THE ALLOWANCE FOR L_4

LOANS AND THE ALLOWANCE FOR LOAN LOSSES -Loan Modifications (Details)	12 Months Ended
	Dec. 31, 2020USD ($)loan	Dec. 31, 2019USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	$ 1,534,185,000	$ 996,559,000
Number of loans modified | loan	2
Loan deferral amount	$ 2,100,000
Percentage of probability	50.00%
Percentage of reduction in collateral position	20.00%
Portion of loan portfolio exposed to high risk industries impacted by Covid-19	$ 3
COVID-19
Accounts, Notes, Loans and Financing Receivable [Line Items]
Delinquent over period	30 days
Payments Period	2 years
Total gross loans	$ 1,534,185,000
# of Loans Modified | loan	89
Outstanding Balance of Modified Loans	$ 160,800,000
% of Total Loan Balance Modified	0.13%
Number of loans modified | loan	2
Loan deferral amount	$ 2,062,000
Cash, Securities and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	357,020,000	146,701,000
Cash, Securities and Other | COVID-19
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	357,020,000
Construction and Development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	131,111,000	28,120,000
Construction and Development | COVID-19
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	131,111,000
1-4 Family Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	455,038,000	400,134,000
1-4 Family Residential | COVID-19
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	$ 455,038,000
% of Total Loan Balance Modified	0.02%
Number of loans modified | loan	1
Loan deferral amount	$ 346,000
Non-Owner Occupied CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	281,943,000	165,179,000
Non-Owner Occupied CRE | COVID-19
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	281,943,000
Owner Occupied CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	163,042,000	127,968,000
Owner Occupied CRE | COVID-19
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	$ 163,042,000
% of Total Loan Balance Modified	0.11%
Number of loans modified | loan	1
Loan deferral amount	$ 1,716,000
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	146,031,000	$ 128,457,000
Commercial and Industrial | COVID-19
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	$ 146,031,000

LOANS AND THE ALLOWANCE FOR L_5

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Aging analysis of recorded investments by class (Details)	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	$ 6,362,000	$ 10,230,000
Total current	1,527,823,000	986,329,000
Total Recorded Investment	$ 1,534,185,000	$ 996,559,000
Number of loans, 90 days delinquent and accruing interest	0	0
30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	$ 2,785,000	$ 6,213,000
60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due		3,110,000
90 or More Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	3,577,000	907,000
Cash, Securities and Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	800,000	525,000
Total current	356,220,000	146,176,000
Total Recorded Investment	357,020,000	146,701,000
Cash, Securities and Other | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	752,000	525,000
Cash, Securities and Other | 90 or More Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	48,000
Construction and Development
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total current	131,111,000	28,120,000
Total Recorded Investment	131,111,000	28,120,000
1-4 Family Residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	1,283,000	5,688,000
Total current	453,755,000	394,446,000
Total Recorded Investment	455,038,000	400,134,000
1-4 Family Residential | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	1,283,000	5,688,000
Non-Owner Occupied CRE
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total current	281,943,000	165,179,000
Total Recorded Investment	281,943,000	165,179,000
Owner Occupied CRE
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	479,000
Total current	162,563,000	127,968,000
Total Recorded Investment	163,042,000	127,968,000
Owner Occupied CRE | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	479,000
Commercial and Industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	3,800,000	4,017,000
Total current	142,231,000	124,440,000
Total Recorded Investment	146,031,000	128,457,000
Commercial and Industrial | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	271,000
Commercial and Industrial | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due		3,110,000
Commercial and Industrial | 90 or More Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	$ 3,529,000	$ 907,000

LOANS AND THE ALLOWANCE FOR L_6

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Recorded investment in non-accrual loans by class (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)loan	Dec. 31, 2019USD ($)loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans	$ 4,058	$ 7,215
Number of loans classified as TDRs | loan	1	2
Recorded investments	$ 3,600	$ 7,200
Cash, Securities and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans	50	2,803
Owner Occupied CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans	479
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans	$ 3,529	$ 4,412

LOANS AND THE ALLOWANCE FOR L_7

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Summary of unpaid principal balance of loans classified as TDRs (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)loan	Dec. 31, 2019USD ($)loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans classified as TDRs	$ 3,577
Total Recorded Investment	4,058	$ 12,270
Allowance for loan associated with TDR	(1,621)	(833)
Allowance for loan losses associated with TDR	(1,619)
Net recorded investment	$ 1,958	11,437
Additional funds to loans classified as TDRs		$ 200
Number of loans classified as TDRs | loan	1	2
Cash, Securities and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment	$ 50	$ 2,803
Allowance for loan associated with TDR	(2)
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment	3,529	9,467
Allowance for loan associated with TDR	(1,619)	(833)
Accrual Loans | Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment		5,055
Loans on nonaccrual status | Cash, Securities and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans classified as TDRs	48
Total Recorded Investment		2,803
Loans on nonaccrual status | Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans classified as TDRs	$ 3,529
Total Recorded Investment		$ 4,412

LOANS AND THE ALLOWANCE FOR L_8

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Recorded investment in impaired loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment With Allowance	$ 3,421	$ 4,412
Total Recorded Investment With No Allowance	637	7,858
Total Recorded Investment	4,058	12,270
Unpaid Contractual Principal Balance with a valuation Allowance	3,421	4,412
Unpaid Contractual Principal Balance with no related valuation Allowance	637	7,858
Unpaid Contractual Principal Balance	4,058	12,270
Allowance for Loan Losses	1,621	833
Average Recorded Investment with Allowance	3,454	1,686
Average Recorded Investment with No Allowance	6,169	10,716
Average Recorded Investment	9,623	12,402
Interest Income Recognized with No Allowance	336	427
Interest Income Recognized	336	427
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment With Allowance	3,419	4,412
Total Recorded Investment With No Allowance	110	5,055
Total Recorded Investment	3,529	9,467
Unpaid Contractual Principal Balance with a valuation Allowance	3,419	4,412
Unpaid Contractual Principal Balance with no related valuation Allowance	110	5,055
Unpaid Contractual Principal Balance	3,529	9,467
Allowance for Loan Losses	1,619	833
Average Recorded Investment with Allowance	3,453	1,686
Average Recorded Investment with No Allowance	4,893	4,499
Average Recorded Investment	8,346	6,185
Interest Income Recognized with No Allowance	336	427
Interest Income Recognized	336	427
Cash, Securities and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment With Allowance	2
Total Recorded Investment With No Allowance	48	2,803
Total Recorded Investment	50	2,803
Unpaid Contractual Principal Balance with a valuation Allowance	2
Unpaid Contractual Principal Balance with no related valuation Allowance	48	2,803
Unpaid Contractual Principal Balance	50	2,803
Allowance for Loan Losses	2
Average Recorded Investment with Allowance	1
Average Recorded Investment with No Allowance	1,180	6,217
Average Recorded Investment	1,181	$ 6,217
Owner Occupied CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment With No Allowance	479
Total Recorded Investment	479
Unpaid Contractual Principal Balance with no related valuation Allowance	479
Unpaid Contractual Principal Balance	479
Average Recorded Investment with No Allowance	96
Average Recorded Investment	$ 96

LOANS AND THE ALLOWANCE FOR L_9

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Allowance for loan losses by portfolio (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	$ 7,875	$ 7,451
Provision for (recovery of) credit losses	4,682	662
Charge-offs	(31)	(248)
Recoveries	13	10
Ending balance	12,539	7,875
Individually evaluated	1,621	833
Collectively evaluated	10,918	7,042
Loans individually evaluated	4,058	12,270
Loans collectively evaluated	1,530,127	984,289
Total Recorded Investment	1,534,185	996,559
Cash, Securities and Other
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	1,058	764
Provision for (recovery of) credit losses	1,539	532
Charge-offs	(31)	(248)
Recoveries	13	10
Ending balance	2,579	1,058
Individually evaluated	2
Collectively evaluated	2,577	1,058
Loans individually evaluated	50	2,803
Loans collectively evaluated	356,970	143,898
Total Recorded Investment	357,020	146,701
Construction and Development
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	200	232
Provision for (recovery of) credit losses	732	(32)
Ending balance	932	200
Collectively evaluated	932	200
Loans collectively evaluated	131,111	28,120
Total Recorded Investment	131,111	28,120
1-4 Family Residential
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	2,850	2,552
Provision for (recovery of) credit losses	383	298
Ending balance	3,233	2,850
Collectively evaluated	3,233	2,850
Loans collectively evaluated	455,038	400,134
Total Recorded Investment	455,038	400,134
Non-Owner Occupied CRE
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	1,176	1,264
Provision for (recovery of) credit losses	828	(88)
Ending balance	2,004	1,176
Collectively evaluated	2,004	1,176
Loans individually evaluated	479
Loans collectively evaluated	281,464	165,179
Total Recorded Investment	281,943	165,179
Owner Occupied CRE
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	911	789
Provision for (recovery of) credit losses	248	122
Ending balance	1,159	911
Collectively evaluated	1,159	911
Loans collectively evaluated	163,042	127,968
Total Recorded Investment	163,042	127,968
Commercial and Industrial
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	1,680	1,850
Provision for (recovery of) credit losses	952	(170)
Ending balance	2,632	1,680
Individually evaluated	1,619	833
Collectively evaluated	1,013	847
Loans individually evaluated	3,529	9,467
Loans collectively evaluated	142,502	118,990
Total Recorded Investment	$ 146,031	$ 128,457

LOANS AND THE ALLOWANCE FOR _10

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Recorded investment in company's loans (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	$ 1,534,185	$ 996,559
Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	1,517,908	973,472
Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	6,316	1,158
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	9,961	21,929
Cash, Securities and Other
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	357,020	146,701
Cash, Securities and Other | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	356,970	143,898
Cash, Securities and Other | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	50	2,803
Construction and Development
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	131,111	28,120
Construction and Development | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	131,111	28,120
1-4 Family Residential
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	455,038	400,134
1-4 Family Residential | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	451,918	395,224
1-4 Family Residential | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	3,120	4,910
Non-Owner Occupied CRE
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	281,943	165,179
Non-Owner Occupied CRE | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	275,627	164,021
Non-Owner Occupied CRE | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	6,316	1,158
Owner Occupied CRE
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	163,042	127,968
Owner Occupied CRE | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	161,850	127,968
Owner Occupied CRE | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	1,192
Commercial and Industrial
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	146,031	128,457
Commercial and Industrial | Pass
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	140,432	114,241
Commercial and Industrial | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total gross loans	$ 5,599	$ 14,216

PREMISES AND EQUIPMENT, NET - c

PREMISES AND EQUIPMENT, NET - cost and accumulated depreciation of premises and equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
PREMISES AND EQUIPMENT, NET
Gross Premise and equipment	$ 14,944	$ 14,832
Less accumulated depreciation	(9,624)	(9,614)
Premises and equipment, net	5,320	5,218
Depreciation expense	1,100	1,300
Asset retired	1,100	2,500
Leasehold improvements, including artwork
PREMISES AND EQUIPMENT, NET
Gross Premise and equipment	9,440	10,174
Equipment and software
PREMISES AND EQUIPMENT, NET
Gross Premise and equipment	$ 5,504	$ 4,658

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Roll Forward]
Beginning balance	$ 19,686	$ 24,811
Impairment		(1,572)
Reclass to held or sale		(3,553)
Acquisition activity	4,505
Ending balance	24,191	19,686
Change in goodwill	4,500
Wealth Management
Goodwill [Roll Forward]
Beginning balance	19,686
Ending balance	$ 24,191	19,686
Capital Management
Goodwill [Roll Forward]
Impairment		(1,600)
Reclass to held or sale		$ 3,600

GOODWILL - Goodwill, intangible

GOODWILL - Goodwill, intangible assets and related accumulated amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	May 15, 2020	Dec. 31, 2018
Goodwill [Line Items]
Goodwill	$ 24,191	$ 19,686	$ 4,500	$ 24,811
Impairment		(1,572)
Other intangibles	4,593	4,540
Reclass of goodwill held for sale		(3,553)
Less accumulated amortization on other intangibles	(4,526)	(4,512)
Other intangible assets, net	67	28
Amortization of intangible assets	14	374
Finite-Lived Intangible Assets:
2021	17
Thereafter	50
Other intangible assets, net	67	28
Capital Management
Goodwill [Line Items]
Impairment		(1,600)
Reclass of goodwill held for sale		$ 3,600
Amount of retired intangible assets	$ 4,800

LEASES - Leases Balance Sheets

LEASES - Leases Balance Sheets Location (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
LEASES
Operating lease right-of-use asset	$ 11,341	$ 10,308
Financial position	us-gaap:OtherAssets	us-gaap:OtherAssets
Operating lease liability	$ 13,970	$ 13,480
Financial position	us-gaap:OtherLiabilities	us-gaap:OtherLiabilities
Weighted-Average Remaining Lease Term - Operating leases	4 years 9 months 14 days	4 years 10 months 28 days
Weighted-Average Discount Rate - Operating leases	3.04%	3.71%

LEASES - Leases Costs (Details)

LEASES - Leases Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
LEASES
Operating lease cost	$ 3,162	$ 3,186
Variable lease cost	1,894	1,513
Sublease income	(232)	(397)
Lease costs, net	$ 4,824	$ 4,302

LEASES - Lease Maturity (Detail

LEASES - Lease Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
LEASES
2021	$ 3,323
2022	3,239
2023	2,937
2024	2,785
2025	1,783
Thereafter	867
Total future minimum lease payments	14,934
Less: Imputed interest	(964)
Present value of net future minimum lease payments	$ 13,970	$ 13,480

DEPOSITS (Details)

DEPOSITS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	May 15, 2020	Dec. 31, 2019
Time Deposits [Line Items]
Money market deposit accounts	$ 847,430		$ 615,575
Time deposits	172,682		134,913
Negotiable order of withdrawal accounts	113,052		91,921
Savings accounts	5,289		4,307
Total interest bearing deposits	1,138,453		846,716
Aggregate time deposits of $250,000 or greater	73,401		$ 61,596
Deposits acquired via acquisitions	63,100
Overdrafts balances classified As loans	$ 100
Simmons Bank
Time Deposits [Line Items]
Deposits acquired via acquisitions		$ 63,080

DEPOSITS - Time Deposits (Detai

DEPOSITS - Time Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Scheduled maturities of time deposits
2021	$ 125,238
2022	23,065
2023	20,115
2024	2,550
2025	1,691
Thereafter	23
Total	$ 172,682	$ 134,913

BORROWINGS (Details)

BORROWINGS (Details) $ in Thousands	Nov. 25, 2020USD ($)	Mar. 17, 2020USD ($)	Dec. 31, 2020USD ($)fund	Dec. 31, 2019USD ($)	Dec. 31, 2020USD ($)
BORROWINGS
Borrowings from FHLB			$ 15,000	$ 10,000	$ 15,000
Number of unsecured federal funds lines of credit | fund			3
Amount outstanding			$ 0	0	0
Interest expenses			800	500
Total gross loans			1,534,185	996,559	1,534,185
Federal Funds Lines of Credit One
BORROWINGS
Maximum borrowing capacity			10,000		10,000
Federal Funds Lines of Credit Two
BORROWINGS
Maximum borrowing capacity			19,000		19,000
Federal Funds Line of Credit Three
BORROWINGS
Maximum borrowing capacity			25,000		25,000
Subordinated Notes 2016 [Member]
BORROWINGS
Face amount			$ 6,600	6,600	$ 6,600
interest rate (as a percent)					7.25%
Subordinated Notes 2016 [Member] | 90 Day London Interbank Offered Rate [Member]
BORROWINGS
Basis spread (as a percent)			587.00%
Subordinated Notes March 2020
BORROWINGS
Face amount		$ 8,000
interest rate (as a percent)		5.125%
Issuance costs		$ 100
Net balance			$ 7,900		$ 7,900
Subordinated Notes March 2020 | 90 Day London Interbank Offered Rate [Member]
BORROWINGS
Basis spread (as a percent)		4.50%
Subordinated Notes November 2020
BORROWINGS
Face amount	$ 10,000
interest rate (as a percent)	4.25%
Issuance costs	$ 200
Net balance			9,800		9,800
Subordinated Notes November 2020 | 90 Day London Interbank Offered Rate [Member]
BORROWINGS
Basis spread (as a percent)	4.02%
Credit Note [Member]
BORROWINGS
Amount outstanding			0		0
Face amount			$ 5,000		5,000
interest rate (as a percent)			2.50%
PPP Loans
BORROWINGS
Face amount			$ 134,600		134,600
FHLB Topeka
BORROWINGS
Amount of collateral pledged			668,600	515,500	668,600
Available balance			$ 441,800		$ 441,800
August 26, 2020
BORROWINGS
Interest rate			1.94%		1.94%
Borrowings from FHLB				$ 10,000
April 22, 2022
BORROWINGS
Interest rate			0.37%		0.37%
Borrowings from FHLB			$ 5,000		$ 5,000
May 5, 2023
BORROWINGS
Interest rate			0.76%		0.76%
Borrowings from FHLB			$ 10,000		$ 10,000

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	Jul. 16, 2020	Dec. 31, 2020	Dec. 31, 2019
First Western Capital Management Company [Member]
COMMITMENTS AND CONTINGENCIES
Legally accrued	$ 200
Unused lines of credit-Fixed
COMMITMENTS AND CONTINGENCIES
Other commitment		$ 78,506	$ 32,896
Standby letters of credit-Fixed
COMMITMENTS AND CONTINGENCIES
Other commitment		1,933	1,759
Commitments to make loans to sell-Fixed
COMMITMENTS AND CONTINGENCIES
Other commitment		370,512	47,354
Commitments to make loans-Fixed
COMMITMENTS AND CONTINGENCIES
Other commitment		24,225
Unused lines of credit-Variable
COMMITMENTS AND CONTINGENCIES
Other commitment		360,883	290,653
Standby letters of credit-Variable
COMMITMENTS AND CONTINGENCIES
Other commitment		17,524	$ 24,197
Commitments to make loans-Variable
COMMITMENTS AND CONTINGENCIES
Other commitment		$ 25,316

SHAREHOLDERS EQUITY - Common St

SHAREHOLDERS EQUITY - Common Stock (Details) - $ / shares	Jun. 14, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Nov. 03, 2020
Class of Stock [Line Items]
Common stock par value		$ 0	$ 0	$ 0
Common Stock
Class of Stock [Line Items]
Common stock par value		$ 0		$ 0
Number of votes per each share		one
Effective term of program	1 year
Number of shares repurchased		22,679
Issuance of common stock (in shares)				0
Common Stock | 2019 Repurchase Plan
Class of Stock [Line Items]
Authorized share repurchase	300,000
Number of shares repurchased			43,698
Shares repurchased average price per share		$ 16.50	$ 16.51
Common Stock | 2020 Repurchase Plan
Class of Stock [Line Items]
Common stock par value					$ 0
Authorized share repurchase					400,000
Number of shares repurchased		426
Shares repurchased average price per share		$ 17.30

SHAREHOLDERS EQUITY - Stock bas

SHAREHOLDERS EQUITY - Stock based compensation - Restricted Stock Awards (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued			105,264
Value of shares issued			$ 3,000
Weighted-average grant date fair value (in dollars per share)	$ 28.50	$ 28.50
Recognized compensation expense	$ 400	$ 900
Unrecognized compensation expense	$ 500
Unrecognized compensation expense recognition period (in years)	1 year 2 months 12 days
Number of stock awards vested	40,614
Employee service period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued			52,632
Value of shares issued			$ 1,500
Vesting period (in years)			5 years
Performance of mortgage division
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued			52,632
Value of shares issued			$ 1,500
Recognized compensation expense	$ 100	$ 600
Shares non-vested	14,114	38,518
Financial Performance Units Granted From May 1, 2019 Through April 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized compensation expense	$ 312	$ 110
Unrecognized compensation expense	$ 527
Unrecognized compensation expense recognition period (in years)	3 years 1 month 6 days
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized compensation expense	$ 200	$ 300

SHAREHOLDERS EQUITY - Stock b_2

SHAREHOLDERS EQUITY - Stock based compensation - Stock Options (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 0.2	$ 0.3
Plan 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for issuance	458,947

SHAREHOLDERS EQUITY - Stock b_3

SHAREHOLDERS EQUITY - Stock based compensation - Stock Options Activity (Details) - Stock options - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of year (in shares)	419,197
Outstanding at end of period (in shares)	419,197
Options fully vested / exercisable at end of period (in shares)	414,727	394,020
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Beginning Balance	$ 29.02
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance	29.02
Options fully vested / exercisable at December 31, 2019	$ 29.04
Weighted Average Remaining Contractual Term
Outstanding at end of year	2 years 6 months
Options fully vested / exercisable at December 31, 2019	2 years 6 months
Aggregate Intrinsic Value
Exercise price low range	$ 20
Exercise price high range	$ 40
Expiry period	10 years

SHAREHOLDERS EQUITY - Stock b_4

SHAREHOLDERS EQUITY - Stock based compensation - Share Awards (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Stock issued (in shares)		15,446
Stock surrendered (in shares)	20,043	7,835
Stock surrendered to cover employee withholding taxes	$ 0.3	$ 0.1
Time Vesting Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at beginning of year	209,444
Granted (in shares)	132,775
Vested (in shares)	(54,753)
Forfeited (in shares)	(2,414)
Outstanding at end of year	285,052	209,444
Stock issued (in shares)	34,710
Financial Performance Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at beginning of year	69,426
Granted (in shares)	84,027
Forfeited (in shares)	(1,023)
Outstanding at end of year	152,430	69,426
Market Performance Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at beginning of year	14,862
Outstanding at end of year	14,862	14,862

SHAREHOLDERS EQUITY - Stock b_5

SHAREHOLDERS EQUITY - Stock based compensation - Time Vesting Units (Details) - Time Vesting Units - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value	$ 13.65
Granted (in shares)	132,775
Stock-based compensation expense	$ 1.4	$ 1
Unrecognized compensation expense	$ 3.9
Unrecognized compensation expense recognition period (in years)	1 year 10 months 24 days
Third and fifth anniversaries
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period (in years)	5 years
Anniversary of grant date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Percentage	20.00%
Granted (in shares)	132,775

SHAREHOLDERS EQUITY - Stock b_6

SHAREHOLDERS EQUITY - Stock based compensation - Financial Performance Units (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Financial Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	84,027
Financial Performance Units Granted Prior to May 1, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum percentage of shares can be issued	100.00%
Maximum number of shares can be issued	10,035
Stock-based compensation expense	$ 64
Unrecognized compensation expense	$ 79
Unrecognized compensation expense recognition period (in years)	1 year
Financial Performance Units Granted Prior to May 1, 2019 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Financial performance threshold percentage	150.00%
Financial Performance Units Granted Prior to May 1, 2019 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Financial performance threshold percentage	0.00%
Maximum percentage of shares can be issued	50.00%
Financial Performance Units Granted From May 1, 2019 Through April 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	1,866	62,569
Maximum percentage of shares can be issued	150.00%
Maximum number of shares can be issued	86,148
Stock-based compensation expense	$ 312	$ 110
Unrecognized compensation expense	$ 527
Unrecognized compensation expense recognition period (in years)	3 years 1 month 6 days
Financial Performance Units Granted From May 01, 2020 Through December 31 2020, Excluding November 18, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	58,993
Maximum percentage of shares can be issued	150.00%
Maximum number of shares can be issued	87,675
Stock-based compensation expense	$ 156
Unrecognized compensation expense	$ 627
Unrecognized compensation expense recognition period (in years)	4 years
Financial Performance Units Granted on November 18, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	23,168
Remainder threshold awards	50.00%
Maximum percentage of shares can be issued	126.00%
Maximum number of shares can be issued	29,268
Stock-based compensation expense	$ 17
Unrecognized compensation expense	$ 397
Unrecognized compensation expense recognition period (in years)	3 years 10 months 24 days

SHAREHOLDERS EQUITY - Stock b_7

SHAREHOLDERS EQUITY - Stock based compensation - Market Performance Units (Details) - Market Performance Units $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 0.4
Unrecognized compensation expense recognition period (in years)	1 year 6 months

EARNINGS PER COMMON SHARE (Deta

EARNINGS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Numerator:
Net income	$ 24,534	$ 8,009
Net income available for common shareholders	$ 24,534	$ 8,009
Denominator:
Basic weighted average shares	7,899,278	7,890,266
Earnings per common share - basic	$ 3.11	$ 1.02
Numerator:
Net income	$ 24,534	$ 8,009
Net income available for common shareholders	$ 24,534	$ 8,009
Denominator:
Basic weighted average shares	7,899,278	7,890,266
Diluted effect of common stock equivalents:
Total diluted effect of common stock equivalents	62,626	24,695
Diluted weighted average shares	7,961,904	7,914,961
Earnings per common share - diluted	$ 3.08	$ 1.01
Time Vesting Units
Diluted effect of common stock equivalents:
Diluted effect of common stock equivalents	32,995	9,315
Financial Performance Units
Diluted effect of common stock equivalents:
Diluted effect of common stock equivalents	16,160	2,071
Market Performance Units
Diluted effect of common stock equivalents:
Diluted effect of common stock equivalents	13,471	13,309

EARNINGS PER COMMON SHARE - Ant

EARNINGS PER COMMON SHARE - Anti-dilutive Securities (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
EARNINGS PER COMMON SHARE
Total potentially dilutive securities	614,116	691,590
Stock options
EARNINGS PER COMMON SHARE
Total potentially dilutive securities	419,197	433,572
Time Vesting Units
EARNINGS PER COMMON SHARE
Total potentially dilutive securities	88,121	144,560
Financial Performance Units
EARNINGS PER COMMON SHARE
Total potentially dilutive securities	70,397	35,256
Restricted Stock Awards
EARNINGS PER COMMON SHARE
Total potentially dilutive securities	36,401	78,202

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Unrecognized tax benefits	$ 0
Unrecognized tax benefits (in years)	12 months
Current & deferred income tax (benefit)/expense	$ 8,529	$ 2,183
California Franchise Tax Board
Net operating loss carryforwards	6,500
Net operating loss carryforwards valuation allowance	$ 400

INCOME TAXES - Income tax (bene

INCOME TAXES - Income tax (benefit) expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Current:
Federal	$ 7,970	$ 3,076
State and local	1,859	323
Total current tax expense	9,829	3,399
Deferred:
Federal	(1,392)	(1,338)
State and local	(280)	122
Valuation allowance	372
Total deferred (benefit) tax	(1,300)	(1,216)
Income tax expense	$ 8,529	$ 2,183
Effective income tax rate (as a percent)	21.00%	21.00%

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Income tax expense computed at 21% statutory rate	$ 6,943	$ 2,140
Permanent differences	(57)	(30)
State taxes, net of federal expense	1,150	394
Low income housing investment	(36)
Valuation allowance	372
Other, net	157	(321)
Income tax expense	$ 8,529	$ 2,183
Effective income tax rate (as a percent)	21.00%	21.00%

INCOME TAXES - Deferred tax ite

INCOME TAXES - Deferred tax items (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Net operating loss carryforwards	$ 577	$ 545
Allowance for loan losses	3,054	1,925
Deferred rent	635	797
Stock-based compensation	1,613	1,400
Provision on other real estate owned	484	438
Other intangible assets	615	723
Unrealized losses on securities, net		55
Accrued Bonuses	898	474
Loan fees	244	352
Other	553	685
Total deferred tax assets	8,673	7,394
Deferred tax liabilities:
Goodwill	(1,013)	(1,354)
Depreciation	(904)	(961)
Unrealized gains on securities, net	(236)
Other	(92)	(32)
Total deferred tax liabilities	(2,245)	(2,347)
Net operating loss valuation allowance	(372)
Net deferred tax asset	$ 6,056	$ 5,047

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
EMPLOYEE BENEFIT PLANS
Maximum employee contribution (as a percent)	100.00%
Matching contributions to plan	$ 0.9	$ 0.7
Expenses attributable to plan	$ 0	$ 0

RELATED-PARTY TRANSACTIONS (Det

RELATED-PARTY TRANSACTIONS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Summary of related party loan activity
Balance, beginning of year	$ 5,675,000	$ 2,659,000
Funded loans	17,348,000	11,618,000
Payments collected	(8,702,000)	(8,602,000)
Balance, end of year	14,321,000	5,675,000
Deposits from related parties	26,200,000	28,500,000
Related Party, Assets Under Management	92,100,000	137,100,000
Delinquent loans	6,362,000	10,230,000
Non-performing loans	4,058,000	12,270,000
Trust and investment management fees	19,022,000	18,935,000
Board Member
Summary of related party loan activity
Rent expense	200,000	300,000
Board of Directors Chairman
Summary of related party loan activity
Trust and investment management fees	200,000	200,000
Executive Officer Or Director [Member]
Summary of related party loan activity
Delinquent loans	0	0
Non-performing loans	$ 0	$ 0

FAIR VALUE - General (Details)

FAIR VALUE - General (Details)	12 Months Ended
	Dec. 31, 2020USD ($)
FAIR VALUE
Fair value, assets, level 1 to level 2 transfers, amount	$ 0
Fair value, assets, level 2 to level 1 transfers, amount	0
Fair value, liabilities, level 1 to level 2 transfers, amount	0
Fair value, liabilities, level 2 to level 1 transfers, amount	0
Transfer to level 3, assets, amount	0
Transfer from level 3, assets, amount	0
Transfer to level 3, liabilities, amount	$ 0

FAIR VALUE - Summary of assets

FAIR VALUE - Summary of assets measured at fair value on recurring basis (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	$ 36,666	$ 58,903
U.S. Treasury debt
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	254	254
Corporate bonds
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	6,044
Recurring
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	36,666	58,903
Equity securities	730	713
Guarantee asset	232
Guarantee liability	(125)
Recurring | U.S. Treasury debt
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	254	254
Recurring | Corporate bonds
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	6,044
Recurring | Corporate collateralized mortgage obligations and mortgage-backed securities
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	4,087	10,420
Recurring | IRLC and FSC, net
Summary of assets measured on a recurring and nonrecurring basis
Derivative asset, Fair value	9,752	1,184
Recurring | GNMA
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	24,604	45,312
Recurring | FNMA
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	1,677	2,917
Level 1 | Recurring
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	254	254
Equity securities	730	713
Level 1 | Recurring | U.S. Treasury debt
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	254	254
Level 2 | Recurring
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	36,412	58,649
Level 2 | Recurring | Corporate bonds
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	6,044
Level 2 | Recurring | Corporate collateralized mortgage obligations and mortgage-backed securities
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	4,087	10,420
Level 2 | Recurring | GNMA
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	24,604	45,312
Level 2 | Recurring | FNMA
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	1,677	2,917
Level 3 | Recurring
Summary of assets measured on a recurring and nonrecurring basis
Guarantee asset	232
Guarantee liability	(125)
Level 3 | Recurring | IRLC and FSC, net
Summary of assets measured on a recurring and nonrecurring basis
Derivative asset, Fair value	$ 9,752	$ 1,184

FAIR VALUE - Summary of asset_2

FAIR VALUE - Summary of assets measured at fair value on recurring basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Guarantee asset
Guarantee asset, Sales	$ 245
Guarantee asset, Gains (losses) in net income, net	55
Guarantee asset, Other settlements	(68)
Guarantee asset, Ending balance	232
IRLC and FSC, net
IRLC and FSC, net, Beginning balance	1,184	$ 421
IRLC and FSC, net, Acquisitions	44,763	13,094
IRLC and FSC, net, Originations	(39,985)	(10,009)
IRLC and FSC, net, Gains (losses) in net income, net	3,790	(2,322)
IRLC and FSC, net, Ending balance	9,752	$ 1,184
Guarantee liability
Guarantee liability, Sales	244
Guarantee liability, Gains (losses) in net income, net	(119)
Guarantee liability, Ending balance	$ 125

FAIR VALUE - Summary of asset_3

FAIR VALUE - Summary of assets measured at level 3 fair value on recurring basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	$ 36,666	$ 58,903
Other real estate owned valuation allowance	1,900	1,700
Impaired Financing Receivable, with Related Allowance, Recorded Investment	3,421	4,412
Loans and Leases Receivable, Allowance	12,539	7,875
Bank charged off		200
Other real estate owned, gross	2,100	2,400
Other real estate owned	194	658
Net recorded investment	1,958	11,437
U.S. Treasury debt
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	254	254
Recurring
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	36,666	58,903
Equity securities	730	713
Guarantee asset	232
Recurring | U.S. Treasury debt
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	254	254
Recurring | Corporate collateralized mortgage obligations and mortgage-backed securities
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	4,087	10,420
Recurring | IRLC and FSC, net
Summary of assets measured on a recurring and nonrecurring basis
Derivative asset, Fair value	9,752	1,184
Recurring | GNMA
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	24,604	45,312
Recurring | FNMA
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	1,677	2,917
Nonrecurring
Summary of assets measured on a recurring and nonrecurring basis
Other real estate owned		658
Level 1 | Recurring
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	254	254
Equity securities	730	713
Level 1 | Recurring | U.S. Treasury debt
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	254	254
Level 2 | Recurring
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	36,412	58,649
Level 2 | Recurring | Corporate collateralized mortgage obligations and mortgage-backed securities
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	4,087	10,420
Level 2 | Recurring | GNMA
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	24,604	45,312
Level 2 | Recurring | FNMA
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	1,677	2,917
Level 3
Summary of assets measured on a recurring and nonrecurring basis
Impaired Financing Receivable, with Related Allowance, Recorded Investment	3,400	4,400
Loans and Leases Receivable, Allowance	1,600	800
Provision for loan losses	1,600	800
Level 3 | Recurring
Summary of assets measured on a recurring and nonrecurring basis
Guarantee asset	232
Level 3 | Recurring | IRLC and FSC, net
Summary of assets measured on a recurring and nonrecurring basis
Derivative asset, Fair value	9,752	1,184
Level 3 | Nonrecurring
Summary of assets measured on a recurring and nonrecurring basis
Other real estate owned		658
Commercial properties | Nonrecurring
Summary of assets measured on a recurring and nonrecurring basis
Other real estate owned	194
Commercial properties | Level 3 | Nonrecurring
Summary of assets measured on a recurring and nonrecurring basis
Other real estate owned	194
Commercial and Industrial | Nonrecurring
Summary of assets measured on a recurring and nonrecurring basis
Net recorded investment	1,800	3,579
Commercial and Industrial | Level 3 | Nonrecurring
Summary of assets measured on a recurring and nonrecurring basis
Net recorded investment	$ 1,800	$ 3,579

FAIR VALUE - Summary of asset_4

FAIR VALUE - Summary of assets and liabilities measured at fair value on a recurring or nonrecurring, the significant unobservable inputs (Details) $ in Thousands	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Commercial properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Estimate	$ 194	$ 658
Commercial and Industrial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Estimate	$ 1,800	$ 3,579
Discount | Commercial properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount		0.50%
Discount | Level 3 | Commercial properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount	5.00%
Discount rate | Level 3 | Discounted cash flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantee asset	3
Maximum | Commission and Cost to Sell | Commercial properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of commission and cost to sell		0.10%
Maximum | Discount rate | Commercial and Industrial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount rate	0.35%	50.00%
Minimum | Commission and Cost to Sell | Commercial properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of commission and cost to sell		0.01%
Minimum | Discount rate | Commercial and Industrial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount rate	0.17%	0.00%
Weighted Average | Commission and Cost to Sell | Commercial properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of commission and cost to sell	0.05%	0.07%
Weighted Average | Discount rate | Commercial properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount rate		0.50%
Weighted Average | Discount rate | Commercial and Industrial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount rate	0.26%	23.00%
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantee asset, Fair Value	$ 232
Guarantee liability	(125)
Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantee asset, Fair Value	232
Guarantee liability	$ (125)
Recurring | Discount rate | Level 3 | Discounted cash flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantee liability	3
Recurring | Prepayment rate | Level 3 | Discounted cash flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantee asset, Fair Value	$ 232
Guarantee liability	$ (125)
Guarantee asset	25
Guarantee liability	25
Recurring | Pull through | Level 3 | Best execution model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
IRLC and FSC, net, Fair Value	$ 9,752	$ 1,184
Recurring | Maximum | Pull through | Level 3 | Best execution model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
IRLC and FSC, net	100	100
Recurring | Minimum | Pull through | Level 3 | Best execution model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
IRLC and FSC, net	55	75
Recurring | Weighted Average | Discount rate | Level 3 | Discounted cash flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantee asset	3
Guarantee liability	3
Recurring | Weighted Average | Prepayment rate | Level 3 | Discounted cash flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantee asset	25
Guarantee liability	25
Recurring | Weighted Average | Pull through | Level 3 | Best execution model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
IRLC and FSC, net	86	88
Recurring | IRLC and FSC, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
IRLC and FSC, net, Fair Value	$ 9,752	$ 1,184
Recurring | IRLC and FSC, net | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
IRLC and FSC, net, Fair Value	$ 9,752	$ 1,184

FAIR VALUE - Summary of carryin

FAIR VALUE - Summary of carrying amounts and estimated fair values for financial instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents	$ 155,989	$ 78,638	$ 73,357
Loans, net	1,520,294	990,132
Mortgage loans held for sale	161,843	48,312
Accrued interest receivable	6,618	3,048
Liabilities
Deposits	1,619,910	1,086,784
FHLB Topeka Borrowings - fixed rate	149,563	10,000
Subordinated notes - fixed-to-floating rate	24,291	6,560
Accrued interest payable	453	299
Carrying Amount
Assets
Cash and cash equivalents	155,989	78,638
Loans, net	1,520,294	990,132
Mortgage loans held for sale	161,843	48,312
Accrued interest receivable	6,618	3,048
Liabilities
Deposits	1,619,910	1,086,784
FHLB Topeka Borrowings - fixed rate	15,000	10,000
Federal Reserve Borrowings - fixed rate	134,563
Accrued interest payable	453	299
2016 Subordinated notes - fixed-to-floating rate | Carrying Amount
Liabilities
Subordinated notes - fixed-to-floating rate	24,291	6,560
Level 1 | Estimated Fair Value
Assets
Cash and cash equivalents	155,989	78,638
Level 2 | Estimated Fair Value
Assets
Mortgage loans held for sale	161,843	48,312
Accrued interest receivable	6,618	3,048
Liabilities
Deposits	1,621,648	1,089,261
FHLB Topeka Borrowings - fixed rate	15,099	10,003
Federal Reserve Borrowings - fixed rate	134,563
Accrued interest payable	453	299
Level 3 | Estimated Fair Value
Assets
Loans, net	1,512,699	974,142
Level 3 | 2016 Subordinated notes - fixed-to-floating rate | Estimated Fair Value
Liabilities
Subordinated notes - fixed-to-floating rate	$ 25,750	$ 6,004

ASSETS AND OTHER LIABILITIES _3

ASSETS AND OTHER LIABILITIES CLASSIFIED AS HELD FOR SALE (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
ASSETS
Assets in disposal groups held for sale	$ 0	$ 3,553
LIABILITIES
Liabilities in disposal groups held for sale	$ 0	117
Disposal Group, Held-for-sale, Not Discontinued Operations
ASSETS
Goodwill		3,553
Assets in disposal groups held for sale		3,553
LIABILITIES
Other liabilities		117
Liabilities in disposal groups held for sale		117
Wealth Management
ASSETS
Assets in disposal groups held for sale		$ 3,553

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	May 15, 2020	Dec. 31, 2018
Income Statement
Total interest income	$ 53,334	$ 45,051
Total interest expense	7,232	12,990
Provision for loan losses	4,682	662
Net interest income, after provision for loan losses	41,420	31,399
Non-interest income	51,180	32,577
Total income	92,600	63,976
Depreciation and amortization expense	1,105	1,671
All other non-interest expense	58,432	52,113
Income (loss) before income tax	33,063	10,192
Segment reporting
Goodwill	24,191	19,686	$ 4,500	$ 24,811
Assets held for sale	0	3,553
Total assets	1,973,655	1,251,682
Loss on intangibles held for sale	(553)
Goodwill impairment		1,572
Wealth Management
Income Statement
Total interest income	53,334	45,051
Total interest expense	7,232	12,990
Provision for loan losses	4,682	662
Net interest income, after provision for loan losses	41,420	31,399
Non-interest income	21,836	21,902
Total income	63,256	53,301
Depreciation and amortization expense	1,035	1,453
All other non-interest expense	50,135	45,696
Income (loss) before income tax	12,086	6,152
Segment reporting
Goodwill	24,191	19,686
Assets held for sale		3,553
Total assets	1,798,416	1,204,620
Capital Management
Segment reporting
SEC Penalty	200
Goodwill impairment		1,600
Mortgage
Income Statement
Non-interest income	29,344	10,675
Total income	29,344	10,675
Depreciation and amortization expense	70	218
All other non-interest expense	8,297	6,417
Income (loss) before income tax	20,977	4,040
Segment reporting
Total assets	$ 175,239	$ 47,062

LOW-INCOME HOUSING TAX CREDIT_2

LOW-INCOME HOUSING TAX CREDIT INVESTMENT (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Schedule of Investments [Line Items]
Unfunded commitments	$ 2.2	$ 2.5
Tax credits and other benefits	0.1	0
Impairment losses	0	0
Other Assets [Member]
Schedule of Investments [Line Items]
Investment balance	1.1	0.9
Income Tax Expense (Benefit)
Schedule of Investments [Line Items]
Amortization expense	$ 0.2	$ 0

CONDENSED FINANCIAL STATEMENT_3

CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY - Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents:	$ 155,989	$ 78,638	$ 73,357
Loans, net	1,520,294	990,132
Other assets	32,129	16,544
Total assets	1,973,655	1,251,682
LIABILITIES
Subordinated notes - fixed-to-floating rate	24,291	6,560
Total liabilities	1,818,693	1,124,004
SHAREHOLDERS' EQUITY
Total shareholders' equity	154,962	127,678	116,875
Total liabilities and shareholders' equity	1,973,655	1,251,682
First Western Financial, Inc
ASSETS
Cash and cash equivalents:	14,270	9,301	$ 9,669
Investment in subsidiaries	157,377	122,792
Loans, net	2,021	2,091
Other assets	4,075	597
Total assets	177,743	134,781
LIABILITIES
Subordinated notes - fixed-to-floating rate	24,291	6,560
Other liabilities	(1,510)	543
Total liabilities	22,781	7,103
SHAREHOLDERS' EQUITY
Total shareholders' equity	154,962	127,678
Total liabilities and shareholders' equity	$ 177,743	$ 134,781

CONDENSED FINANCIAL STATEMENT_4

CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY - Condensed Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income
Noninterest Income	$ 51,180	$ 32,577
Total interest and dividend income	53,334	45,051
Expense
Interest expense	7,232	12,990
Non-interest expense	59,537	53,784
Net income	24,534	8,009
First Western Financial, Inc
Income
Interest income	87	93
Noninterest Income	(1)
Total interest and dividend income	86	93
Expense
Interest expense	854	476
Non-interest expense	355	267
Total expense	1,209	743
Loss before income tax and equity in undistributed income of subsidiaries	(1,123)	(650)
Income tax benefit	(85)	49
Loss before equity in undistributed income of subsidiaries	(1,208)	(601)
Equity in undistributed income to subsidiaries	25,742	8,610
Net income	$ 24,534	$ 8,009

CONDENSED FINANCIAL STATEMENT_5

CONDENSED FINANCIAL STATEMENTS OF PARENT COMPANY - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net income	$ 24,534	$ 8,009
Adjustments:
Current & deferred income tax (benefit)/expense	8,529	2,183
Stock-based compensation	2,544	2,291
Net cash used in operating activities	(93,331)	(21,513)
Cash flows from investing activities
Net cash used in investing activities	(456,020)	(116,379)
Cash flows from financing activities
Proceeds from subordinated notes	18,000
Repurchase of common stock	(377)	(743)
Settlement of restricted stock	(261)	(110)
Recognition of capitalized subordinated notes issuance costs	(269)
Net cash provided by financing activities	626,702	143,173
Net change in cash and cash equivalents	77,351	5,281
Cash and cash equivalents, beginning of year	78,638	73,357
Cash and cash equivalents, end of year	155,989	78,638
First Western Financial, Inc
Cash flows from operating activities
Net income	24,534	8,009
Adjustments:
Current & deferred income tax (benefit)/expense	(3,003)	282
Stock-based compensation	2,544	2,291
Undistributed equity in subsidiaries	(25,742)	(8,610)
Change in other assets	(32)	665
Change in other liabilities	(42)
Net cash used in operating activities	(1,741)	2,637
Cash flows from investing activities
Investment in subsidiaries	(10,453)	(2,152)
Loan and note receivable originations and principal collections, net	70
Net cash used in investing activities	(10,383)	(2,152)
Cash flows from financing activities
Proceeds from subordinated notes	18,000
Repurchase of common stock	(377)	(743)
Settlement of restricted stock	(261)	(110)
Recognition of capitalized subordinated notes issuance costs	(269)
Net cash provided by financing activities	17,093	(853)
Net change in cash and cash equivalents	4,969	(368)
Cash and cash equivalents, beginning of year	9,301	9,669
Cash and cash equivalents, end of year	14,270	9,301
Supplemental noncash disclosures:
Interest paid on borrowed funds	854	$ 476
Segment collapse impact to investment in subsidiary	2,454
Segment collapse impact to deferred income tax (benefit)/expense	640
Segment collapse impact to other assets	(3,202)
Segment collapse impact to other liabilities	$ 108

OTHER NON-INTEREST EXPENSE (Det

OTHER NON-INTEREST EXPENSE (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
OTHER NON-INTEREST EXPENSE
Corporate development and related	$ 1,517	$ 1,468
Loan and deposit related	1,453	729
Office supplies and deliveries	277	223
Other	205	197
Total other non-interest expense	$ 3,452	$ 2,617

REGULATORY CAPITAL MATTERS (Det

REGULATORY CAPITAL MATTERS (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)item	Dec. 31, 2019USD ($)
REGULATORY CAPITAL MATTERS
Capital injection	$ 10,000
Common Equity Tier 1 capital ratio including capital conservation buffer (as a percent)	7.00%
Tier 1 capital ratio including capital conservation buffer (as a percent)	8.50%
Total capital ratio including capital conservation buffer (as a percent0	10.50%
Number of conditions or events to be performed | item	0
Common Equity Tier 1 (CET 1) to risk-weighted assets
Actual Amount	$ 131,507	$ 105,821
Actual Ratio (as a percent)	9.96%	11.31%
Tier 1 capital to risk-weighted assets
Actual Amount	$ 131,507	$ 105,821
Actual Ratio (as a percent)	9.96%	11.31%
Total capital to risk-weighted assets
Actual Amount	$ 168,957	$ 120,429
Actual Ratio (as a percent)	12.80%	12.87%
Tier 1 capital to average assets
Actual Amount	$ 131,507	$ 105,821
Actual Ratio (as a percent)	7.45%	8.58%
Bank
Common Equity Tier 1 (CET 1) to risk-weighted assets
Actual Amount	$ 133,963	$ 99,461
Actual Ratio (as a percent)	10.22%	10.67%
Required for Capital Adequacy Purposes Amount	$ 78,660	$ 55,954
Required for Capital Adequacy Purposes Ratio (as a percent)	6.00%	6.00%
To be Well Capitalized Under Prompt Corrective Action Regulations Amount	$ 104,880	$ 74,606
To be Well Capitalized Under Prompt Corrective Action Regulations Ratio (as a percent)	8.00%	8.00%
Tier 1 capital to risk-weighted assets
Actual Amount	$ 133,963	$ 99,461
Actual Ratio (as a percent)	10.22%	10.67%
Required for Capital Adequacy Purposes Amount	$ 58,995	$ 41,966
Required for Capital Adequacy Purposes Amount (as a percent)	4.50%	4.50%
To be Well Capitalized Under Prompt Corrective Action Regulations Amount	$ 85,215	$ 60,617
To be Well Capitalized Under Prompt Corrective Action Regulations Ratio (as a percent)	6.50%	6.50%
Total capital to risk-weighted assets
Actual Amount	$ 146,853	$ 107,509
Actual Ratio (as a percent)	11.20%	11.53%
Required for Capital Adequacy Purposes Amount	$ 104,880	$ 74,606
Required for Capital Adequacy Purposes Ratio (as a percent)	8.00%	8.00%
To be Well Capitalized Under Prompt Corrective Action Regulations Amount	$ 131,100	$ 93,257
To be Well Capitalized Under Prompt Corrective Action Regulations Ratio (as a percent)	10.00%	10.00%
Tier 1 capital to average assets
Actual Amount	$ 133,963	$ 99,461
Actual Ratio (as a percent)	7.62%	8.09%
Required for Capital Adequacy Purposes Amount	$ 70,301	$ 49,166
Required for Capital Adequacy Purposes Ratio (as a percent)	4.00%	4.00%
To be Well Capitalized Under Prompt Corrective Action Regulations Amount	$ 87,877	$ 61,458
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	5.00%	5.00%

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent events [Member] - PPP Loans $ in Millions	Feb. 28, 2021USD ($)item
SUBSEQUENT EVENTS
Number of application received for loans | item	660
Amount of loans in PPP	$ 91.4
Average amount of loans in PPP	$ 0.1
Number of application for loans approved and funded by SBA | item	410
Number of application for loans approved and funded by SBA amount	$ 68.7