First Western Financial (MYFW) 10-Q 5 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Nov. 01, 2021
Document And Entity Information Abstract
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
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 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 Common Stock, Shares Outstanding		8,032,457
Entity Central Index Key	0001327607
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Cash and cash equivalents:
Cash and due from banks	$ 2,829	$ 2,405
Interest-bearing deposits in other financial institutions	307,406	153,584
Total cash and cash equivalents	310,235	155,989
Available-for-sale securities, at fair value	32,233	36,666
Correspondent bank stock, at cost	1,772	2,552
Mortgage loans held for sale	51,309	161,843
Loans, net of allowance of $12,964 and $12,539	1,590,086	1,520,294
Premises and equipment, net	6,344	5,320
Accrued interest receivable	6,306	6,618
Accounts receivable	5,500	4,865
Other receivables	1,553	1,422
Other real estate owned, net		194
Goodwill and other intangible assets, net	24,246	24,258
Deferred tax assets, net	5,926	6,056
Company-owned life insurance	15,715	15,449
Other assets	25,047	32,129
Total assets	2,076,272	1,973,655
Deposits:
Noninterest-bearing	596,635	481,457
Interest-bearing	1,185,664	1,138,453
Total deposits	1,782,299	1,619,910
Borrowings:
Federal Home Loan Bank and Federal Reserve borrowings	58,564	149,563
Subordinated notes	39,010	24,291
Accrued interest payable	357	453
Other liabilities	20,913	24,476
Total liabilities	1,901,143	1,818,693
SHAREHOLDERS' EQUITY
Preferred stock - no par value; 10,000,000 shares authorized; 0 issued and outstanding
Common stock - no par value; 90,000,000 shares authorized; 8,002,874 and 7,951,773 shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively
Additional paid-in capital	146,380	144,703
Retained earnings	28,272	9,579
Accumulated other comprehensive income	477	680
Total shareholders' equity	175,129	154,962
Total liabilities and shareholders' equity	$ 2,076,272	$ 1,973,655

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
CONDENSED CONSOLIDATED BALANCE SHEETS
Allowance for loans	$ 12,964	$ 12,539
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	8,002,874	7,951,773
Common Stock, shares outstanding	8,002,874	7,951,773

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Interest and dividend income:
Loans, including fees	$ 15,861	$ 14,138	$ 45,360	$ 37,342
Investment securities	180	173	545	692
Interest-bearing deposits in other financial institutions	105	99	288	358
Total interest and dividend income	16,146	14,410	46,193	38,392
Interest expense:
Deposits	829	1,067	2,669	4,779
Other borrowed funds	471	425	1,402	968
Total interest expense	1,300	1,492	4,071	5,747
Net interest income	14,846	12,918	42,122	32,645
Less: Provision for loan losses	406	1,496	418	3,987
Net interest income, after provision for loan losses	14,440	11,422	41,704	28,658
Non-interest income:
Trust and investment management fees	5,167	4,814	15,023	14,154
Net gain on mortgage loans	4,480	12,304	13,590	24,958
Bank fees	458	340	1,225	929
Risk management and insurance fees	301	483	444	912
Income on company-owned life insurance	89	91	266	273
Other			60
Total non-interest income	10,495	18,032	30,608	41,226
Total income before non-interest expense	24,935	29,454	72,312	69,884
Non-interest expense:
Salaries and employee benefits	10,229	10,212	29,733	25,384
Occupancy and equipment	1,550	1,619	4,402	4,574
Professional services	1,660	1,288	4,309	3,542
Technology and information systems	945	1,032	2,791	2,994
Data processing	912	1,038	3,020	2,922
Marketing	397	395	1,116	1,063
Amortization of other intangible assets	5	4	13	44
Net loss on assets held for sale				553
Provision for other real estate owned		100		100
Other	771	944	2,235	2,747
Total non-interest expense	16,469	16,632	47,619	43,923
Income before income taxes	8,466	12,822	24,693	25,961
Income tax expense	2,049	3,192	6,000	6,301
Net income available to common shareholders	$ 6,417	$ 9,630	$ 18,693	$ 19,660
Earnings per common share:
Basic	$ 0.80	$ 1.22	$ 2.35	$ 2.49
Diluted	$ 0.78	$ 1.20	$ 2.28	$ 2.47

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 6,417	$ 9,630	$ 18,693	$ 19,660
Other comprehensive income items, net of tax effect:
Net change in unrealized (losses)/gains on available-for-sale securities	(32)	(21)	(203)	987
Comprehensive income	$ 6,385	$ 9,609	$ 18,490	$ 20,647

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive Income (loss)	Total
Balance at Beginning at Dec. 31, 2019		$ 142,797	$ (14,955)	$ (164)	$ 127,678
Balance at Beginning (in shares) at Dec. 31, 2019	7,940,168
Increase (Decrease) in Stockholders' Equity
Net income			19,660		19,660
Other comprehensive loss, net of tax				987	987
Settlement of share awards		(258)			(258)
Settlement of share awards (in shares)	34,260
Share repurchase		(370)			(370)
Share repurchase (in shares)	(22,679)
Stock-based compensation		1,879			1,879
Balance at Ending at Sep. 30, 2020		144,048	4,705	823	149,576
Balance at Ending (in shares) at Sep. 30, 2020	7,951,749
Balance at Beginning at Jun. 30, 2020		143,498	(4,925)	844	139,417
Balance at Beginning (in shares) at Jun. 30, 2020	7,939,024
Increase (Decrease) in Stockholders' Equity
Net income			9,630		9,630
Other comprehensive loss, net of tax				(21)	(21)
Settlement of share awards		(88)			(88)
Settlement of share awards (in shares)	12,725
Stock-based compensation		638			638
Balance at Ending at Sep. 30, 2020		144,048	4,705	823	149,576
Balance at Ending (in shares) at Sep. 30, 2020	7,951,749
Balance at Beginning at Dec. 31, 2020		144,703	9,579	680	154,962
Balance at Beginning (in shares) at Dec. 31, 2020	7,951,773
Increase (Decrease) in Stockholders' Equity
Net income			18,693		18,693
Other comprehensive loss, net of tax				(203)	(203)
Settlement of share awards		(452)			(452)
Settlement of share awards (in shares)	47,351
Options exercised		79			79
Options exercised (in shares)	3,750
Stock-based compensation		2,050			2,050
Balance at Ending at Sep. 30, 2021		146,380	28,272	477	175,129
Balance at Ending (in shares) at Sep. 30, 2021	8,002,874
Balance at Beginning at Jun. 30, 2021		145,622	21,855	509	167,986
Balance at Beginning (in shares) at Jun. 30, 2021	7,994,832
Increase (Decrease) in Stockholders' Equity
Net income			6,417		6,417
Other comprehensive loss, net of tax				(32)	(32)
Settlement of share awards		(46)			(46)
Settlement of share awards (in shares)	4,292
Options exercised		79			79
Options exercised (in shares)	3,750
Stock-based compensation		725			725
Balance at Ending at Sep. 30, 2021		$ 146,380	$ 28,272	$ 477	$ 175,129
Balance at Ending (in shares) at Sep. 30, 2021	8,002,874

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities
Net income	$ 18,693	$ 19,660
Adjustments to reconcile net income to net cash used in operating activities:
Net amortization of investment securities	411	346
Stock dividends received on correspondent bank stock	(60)	(12)
Provision for loan losses	418	3,987
Net gain on mortgage loans	(13,590)	(24,958)
Origination of mortgage loans held for sale	(1,066,612)	(917,524)
Proceeds from mortgage loans	1,195,896	889,208
Depreciation and amortization	877	832
Provision for other real estate owned		100
Deferred income tax expense/(benefits), net of valuation allowance	210	(1,699)
Increase in cash surrender value of company-owned life insurance	(266)	(273)
Loss on assets held for sale		553
Stock-based compensation	2,050	1,879
Net changes in operating assets and liabilities:
Change in accounts receivable	(21)	492
Change in accrued interest receivable and other assets	(248)	(5,531)
Change in accrued interest payable and other liabilities	(1,311)	3,394
Net cash provided by/(used in) operating activities	136,447	(29,546)
Activity in available-for-sale securities:
Maturities, prepayments, and calls	6,370	20,890
Purchases	(2,250)	(2,000)
Purchases of correspondent bank stock	(1)	(698)
Redemption of correspondent bank stock	841
Contributions to low-income housing tax credit investments	(2,087)
Loan and note receivable originations and principal collections, net	(69,115)	(388,048)
Purchases of premises and equipment	(1,844)	(708)
Proceeds from sale of premises and equipment		10
Proceeds from sale of other real estate owned	194
Net cash paid on acquisitions		(61,316)
Net cash used in investing activities	(67,892)	(431,870)
Cash flows from financing activities
Net change in deposits	162,389	413,808
Payments to Federal Home Loan Bank borrowings		(27,000)
Proceeds from Federal Home Loan Bank borrowings		35,000
Payments to Federal Reserve borrowings	(174,673)	(238)
Proceeds from Federal Reserve borrowings	83,674	204,313
Proceeds from subordinated notes, net of issuance costs	14,674	7,881
Proceeds from the exercise of stock options	79
Repurchase of common stock		(370)
Settlement of restricted stock	(452)	(258)
Net cash provided by financing activities	85,691	633,136
Net change in cash and cash equivalents	154,246	171,720
Cash and cash equivalents, beginning of year	155,989	78,638
Cash and cash equivalents, end of period	310,235	250,358
Supplemental cash flow information:
Interest paid on deposits and borrowed funds	4,167	5,699
Income tax payment, net of refunds received	3,852	6,417
Cash paid for amounts included in the measurement of lease liabilities	3,874	4,267
Supplemental noncash disclosures:
Reclass of held for sale assets, net of liabilities		10
Change in unrealized (loss)/gain on available-for-sale securities	(283)	1,305
Lease right-of-use-asset obtained in exchange for lease liabilities	$ 2,262	$ 649

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2021
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") and Ryder, Stilwell Inc. ("RSI"). 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"). RSI and RRI are 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 condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. The December 31, 2020 condensed consolidated balance sheet has been derived from the audited financial statements for the year ended December 31, 2020. In the opinion of management, all adjustments that were recurring in nature and considered necessary have been included for fair presentation of the Company’s financial position and results of operations. Operating results for the three and nine months ended September 30, 2021 are not necessarily indicative of results that may be expected for the full year ending December 31, 2021. In preparing the condensed consolidated financial statements, the Company is required to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could be significantly different from those estimates. The condensed consolidated financial statements and notes should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC. Consolidation Business Combinations and Divestitures 30, 2021, the Company has incurred $0.4 million in merger related expenses, which are included in the Professional services line of the Condensed Consolidated Statements of Income. ​ 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. Concentration of Credit Risk Mortgage Banking Derivatives In order to manage the interest rate risk on our uncommitted IRLC and mortgage loans held for sale pipeline, the Company enters into mortgage derivative financial instruments called To Be Announced ("TBA"), which we refer to as forward commitments. TBA agreements are forward contracts to purchase mortgage backed securities ("MBS") that will be issued by a US Government Sponsored Enterprise. The Bank purchases or sells these derivatives to offset the changes in value of our mortgage loans held for sale and IRLC adjusted pipeline where we have exposure to interest rate volatility. Changes in the fair values of these derivatives are included in the Net gain on mortgage loans line of the Condensed Consolidated Statements of Income. Revenue Recognition Transition of LIBOR to an Alternative Reference Rate The administrator of LIBOR has proposed to extend publication of the most commonly used U.S. Dollar LIBOR settings to June 30, 2023, and to cease publishing other LIBOR settings on December 31, 2021. Certain of the Company’s assets and liabilities are indexed to LIBOR, with exposure extending beyond 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, fallback language, and other aspects of planning. The Company has prepared a timeline to transition from LIBOR before the end of 2021. 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 since the program was created. PPP loans are classified in the Cash, Securities and Other portion of the loan portfolio. See Note 3 for further discussion on our PPP loans. 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 and had a risk rating of “pass” and had not been delinquent in making interest or principal payment by more than 30 days during the last two years. The CARES Act provides banks optional, temporary relief from accounting for certain loan modifications as troubled debt restructurings ("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 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 September 30, 2021. See Note 3 for further discussion on our loan modification program. 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 3 for further discussion on our participation in the program. Reclassifications Recently adopted accounting pronouncements In January 2021, the FASB issued ASU 2021-01, " Reference Rate Reform (Topic 848) Recently issued accounting pronouncements, not yet adopted In February 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326) ("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 credit 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 nine months ended September 30, 2021, 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 and lease losses ("ALLL") 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 ​

INVESTMENT SECURITIES

INVESTMENT SECURITIES	9 Months Ended
	Sep. 30, 2021
INVESTMENT SECURITIES
INVESTMENT SECURITIES	NOTE 2 - INVESTMENT SECURITIES The following presents the amortized cost and fair value of securities available-for-sale, with unrealized gains and losses recognized in accumulated other comprehensive income as of September 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair September 30, 2021 ​ Cost ​ Gains ​ Losses ​ Value Investment securities available-for-sale: ​ ​ ​ ​ U.S. Treasury debt ​ $ 250 ​ $ — ​ $ (1) ​ $ 249 Corporate bonds ​ ​ 8,117 ​ ​ 249 ​ ​ (10) ​ ​ 8,356 GNMA mortgage-backed securities – residential ​ 20,488 ​ 351 ​ (28) ​ 20,811 FNMA mortgage-backed securities – residential ​ ​ 1,102 ​ ​ 53 ​ ​ — ​ ​ 1,155 Corporate CMO and MBS ​ 1,645 ​ 35 ​ (18) ​ 1,662 Total securities available-for-sale ​ $ 31,602 ​ $ 688 ​ $ (57) ​ $ 32,233 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 GNMA mortgage-backed securities – residential ​ 23,806 ​ 798 ​ — ​ 24,604 FNMA mortgage-backed securities – residential ​ ​ 1,616 ​ ​ 61 ​ ​ — ​ ​ 1,677 Corporate CMO and MBS ​ 4,078 ​ 62 ​ (53) ​ 4,087 Total securities available-for-sale ​ $ 35,750 ​ $ 980 ​ $ (64) ​ $ 36,666 ​ As of September 30, 2021, 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 September 30, 2021 ​ Cost ​ Value Due within one year ​ $ — ​ $ — Due between one year and five years ​ ​ 250 ​ ​ 249 Due between five years and ten years ​ ​ 8,117 ​ ​ 8,356 Securities (agency, Corporate CMO, and MBS) ​ 23,235 ​ 23,628 Total ​ $ 31,602 ​ $ 32,233 ​ In 2014, the Company began investing in a small business investment company ("SBIC") fund administered by the Small Business Administration. During the nine months ended September 30, 2021, the Company did not make any contributions to the SBIC fund. During the year ended December 31, 2020, the Company invested $0.5 million in SBIC. As of September 30, 2021 and December 31, 2020, the Company held a balance of $2.1 million with SBIC, which is included in Other assets in the accompanying Condensed Consolidated Balance Sheets. The Company may be obligated to invest up to an additional $0.9 million in future SBIC investments. As of September 30, 2021 and December 31, 2020, securities with carrying values totaling $2.3 million and $3.7 million, respectively, were pledged to secure various public deposits and credit facilities of the Company. As of September 30, 2021 and December 31, 2020, 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 both September 30, 2021 and December 31, 2020, there were seven securities in an unrealized loss position, with unrealized losses totaling $0.1 million. Of the securities in an unrealized loss position as of September 30, 2021, one has 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 September 30, 2021. The following table summarizes securities with unrealized losses as of September 30, 2021 and December 31, 2020, 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 September 30, 2021 ​ Value ​ Losses ​ Value ​ Losses ​ Value Losses U.S. Treasury debt ​ $ 249 ​ $ (1) ​ $ — ​ $ — ​ $ 249 ​ $ (1) GNMA mortgage-backed securities – residential ​ ​ 7,555 ​ ​ (28) ​ ​ — ​ ​ — ​ ​ 7,555 ​ ​ (28) Corporate bonds ​ ​ 490 ​ ​ (10) ​ ​ — ​ ​ — ​ ​ 490 ​ ​ (10) Corporate CMO and MBS ​ — ​ — ​ 556 ​ (18) ​ 556 ​ (18) Total ​ $ 8,294 ​ $ (39) ​ $ 556 ​ $ (18) ​ $ 8,850 ​ $ (57) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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) ​ The Company did not sell any securities during the three and nine months ended September 30, 2021 or during the year ended December 31, 2020.

LOANS AND THE ALLOWANCE FOR LOA

LOANS AND THE ALLOWANCE FOR LOAN LOSSES	9 Months Ended
	Sep. 30, 2021
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
LOANS AND THE ALLOWANCE FOR LOAN LOSSES	NOTE 3 - LOANS AND THE ALLOWANCE FOR LOAN LOSSES The following presents a summary of the Company’s loans as of the dates noted (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2021 2020 Cash, Securities and Other (1) ​ $ 293,837 ​ $ 357,020 Construction and Development ​ 132,141 ​ 131,111 1-4 Family Residential ​ 502,439 ​ 455,038 Non-Owner Occupied CRE ​ 358,369 ​ 281,943 Owner Occupied CRE ​ ​ 167,638 ​ ​ 163,042 Commercial and Industrial (2) ​ ​ 148,959 ​ ​ 146,031 Total loans held for investment ​ 1,603,383 ​ 1,534,185 Deferred fees and unamortized premiums/(unaccreted discounts), net ​ (333) ​ (1,352) Allowance for loan losses ​ (12,964) ​ (12,539) Loans, net ​ $ 1,590,086 ​ $ 1,520,294 ______________________________________ (1) (2) As of September 30, 2021 and December 31, 2020, total loans held for investment included $117.4 million and $127.2 million, respectively, of performing loans purchased as part of the Branch Acquisition. 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 September 30, 2021, the Cash, Securities, and Other portion of the loan portfolio included $61.9 million of PPP loans, or 21.1% of the total category. 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 September 30, 2021, the Company’s Commercial and Industrial loans included six MSLP loans with the net carrying amount of $6.8 million, or 4.6% of the total category. As of December 31, 2020, the Company’s Commercial and Industrial loans included six MSLP loans 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. As of September 30, 2021, the deferral period has ended for all loans previously modified and payments have resumed under the original terms. As of September 30, 2021, the Company’s loan portfolio included 72 loans which were previously modified under the loan modification program, totaling $135.0 million. 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 recognized 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 as of September 30, 2021. 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 4.1% 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 September 30, 2021, 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 (fees) costs, and unamortized premiums/ (unaccreted discounts) which are not material) in loans past due as of September 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30-59 60-89 90 or Total ​ ​ Total ​ ​ Days ​ Days ​ More Days ​ Loans ​ ​ ​ ​ Recorded September 30, 2021 ​ Past Due ​ Past Due ​ Past Due ​ Past Due ​ Current ​ Investment Cash, Securities and Other ​ $ 727 ​ $ 14 ​ $ 40 ​ $ 781 ​ $ 293,056 ​ $ 293,837 Construction and Development ​ — ​ ​ 2,522 ​ ​ — ​ 2,522 ​ 129,619 ​ 132,141 1-4 Family Residential ​ 483 ​ ​ — ​ ​ 83 ​ 566 ​ 501,873 ​ 502,439 Non-Owner Occupied CRE ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 358,369 ​ ​ 358,369 Owner Occupied CRE ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 167,638 ​ ​ 167,638 Commercial and Industrial ​ — ​ ​ — ​ ​ 2,230 ​ 2,230 ​ 146,729 ​ 148,959 Total ​ $ 1,210 ​ $ 2,536 ​ $ 2,353 ​ $ 6,099 ​ $ 1,597,284 ​ $ 1,603,383 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ As of September 30, 2021 and December 31, 2020, 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2021 2020 Cash, Securities and Other ​ $ 41 ​ $ 50 1-4 Family Residential ​ ​ 83 ​ ​ — Owner Occupied CRE ​ ​ 1,250 ​ ​ 479 Commercial and Industrial ​ 2,984 ​ 3,529 Total ​ $ 4,358 ​ $ 4,058 ​ Non-accrual loans classified as TDRs accounted for $2.2 million of the recorded investment as of September 30, 2021 and $3.6 million as of December 31, 2020. 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2021 2020 Non-accrual ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 9 ​ $ 48 Commercial and Industrial ​ ​ 2,230 ​ ​ 3,529 Total ​ ​ 2,239 ​ ​ 3,577 Allowance for loan losses associated with TDR ​ (1,751) ​ (1,619) Net recorded investment ​ $ 488 ​ $ 1,958 ​ As of September 30, 2021 and December 31, 2020, the Company had not committed any additional funds to a borrower with a loan classified as a TDR. The Company did not modify any loans resulting in TDR status during the nine months ended September 30, 2021. The Company modified one loan resulting in TDR status 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 was paid off in full as of 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ December 31, 2020 ​ ​ ​ 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 ​ $ 32 ​ $ 32 ​ $ 32 ​ $ 2 ​ $ 2 ​ $ 2 Commercial and Industrial ​ ​ 2,230 ​ ​ 2,230 ​ ​ 1,751 ​ ​ 3,419 ​ ​ 3,419 ​ ​ 1,619 Total ​ $ 2,262 ​ $ 2,262 ​ $ 1,783 ​ $ 3,421 ​ $ 3,421 ​ $ 1,621 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans with no related valuation allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 9 ​ $ 9 ​ $ — ​ $ 48 ​ $ 48 ​ $ — 1-4 Family Residential ​ ​ 83 ​ ​ 83 ​ ​ — ​ ​ — ​ ​ — ​ ​ — Owner Occupied CRE ​ ​ 1,250 ​ ​ 1,250 ​ ​ — ​ ​ 479 ​ ​ 479 ​ ​ — Commercial and Industrial ​ ​ 754 ​ ​ 754 ​ ​ — ​ ​ 110 ​ ​ 110 ​ ​ — Total ​ $ 2,096 ​ $ 2,096 ​ $ — ​ $ 637 ​ $ 637 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total impaired loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 41 ​ $ 41 ​ $ 32 ​ $ 50 ​ $ 50 ​ $ 2 1-4 Family Residential ​ ​ 83 ​ ​ 83 ​ ​ — ​ ​ — ​ ​ — ​ ​ — Owner Occupied CRE ​ ​ 1,250 ​ ​ 1,250 ​ ​ — ​ ​ 479 ​ ​ 479 ​ ​ — Commercial and Industrial ​ ​ 2,984 ​ ​ 2,984 ​ ​ 1,751 ​ ​ 3,529 ​ ​ 3,529 ​ ​ 1,619 Total ​ $ 4,358 ​ $ 4,358 ​ $ 1,783 ​ $ 4,058 ​ $ 4,058 ​ $ 1,621 The recorded investment in loans in the previous tables excludes accrued interest, deferred (fees) costs, 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 three months ended September 30, 2021 and 2020 are included in the table below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ ​ 2021 ​ 2020 ​ ​ Average ​ Interest ​ Average ​ Interest ​ ​ Recorded ​ Income ​ Recorded ​ Income ​ ​ Investment ​ Recognized ​ Investment ​ Recognized Impaired loans with a valuation allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 18 ​ $ — ​ $ 1 ​ $ — Commercial and Industrial ​ ​ 2,635 ​ ​ — ​ ​ 3,427 ​ ​ — Total ​ $ 2,653 ​ $ — ​ $ 3,428 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans with no related valuation allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 10 ​ $ — ​ $ 779 ​ $ — Owner Occupied CRE ​ ​ 625 ​ ​ — ​ ​ — ​ ​ — Commercial and Industrial ​ ​ 410 ​ ​ 220 ​ ​ 6,462 ​ ​ 85 1-4 Family Residential ​ ​ 41 ​ ​ — ​ ​ — ​ ​ — Total ​ $ 1,086 ​ $ 220 ​ $ 7,241 ​ $ 85 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total impaired loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 28 ​ $ — ​ $ 780 ​ $ — Owner Occupied CRE ​ ​ 625 ​ ​ — ​ ​ — ​ ​ — Commercial and Industrial ​ ​ 3,045 ​ ​ 220 ​ ​ 9,889 ​ ​ 85 1-4 Family Residential ​ ​ 41 ​ ​ — ​ ​ — ​ ​ — Total ​ $ 3,739 ​ $ 220 ​ $ 10,669 ​ $ 85 ​ The average balance of impaired loans and interest income recognized on impaired loans during the nine months ended September 30, 2021 and 2020 are included in the table below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ ​ 2021 ​ 2020 ​ ​ Average ​ Interest ​ Average ​ Interest ​ ​ Recorded ​ Income ​ Recorded ​ Income ​ ​ Investment ​ Recognized ​ Investment ​ Recognized Impaired loans with a valuation allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 10 ​ $ — ​ $ 1 ​ $ — Commercial and Industrial ​ ​ 3,027 ​ ​ 21 ​ ​ 3,462 ​ ​ — Total ​ $ 3,037 ​ $ 21 ​ $ 3,463 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans with no related valuation allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 22 ​ $ — ​ $ 1,463 ​ $ — Owner Occupied CRE ​ ​ 313 ​ ​ 51 ​ ​ — ​ ​ — Commercial and Industrial ​ ​ 257 ​ ​ 220 ​ ​ 6,088 ​ ​ 250 1-4 Family Residential ​ ​ 21 ​ ​ — ​ ​ — ​ ​ — Total ​ $ 613 ​ $ 271 ​ $ 7,551 ​ $ 250 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total impaired loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 32 ​ $ — ​ $ 1,464 ​ $ — Owner Occupied CRE ​ ​ 313 ​ ​ 51 ​ ​ — ​ ​ — Commercial and Industrial ​ ​ 3,284 ​ ​ 241 ​ ​ 9,550 ​ ​ 250 1-4 Family Residential ​ ​ 21 ​ ​ — ​ ​ — ​ ​ — Total ​ $ 3,650 ​ $ 292 ​ $ 11,014 ​ $ 250 ​ 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 three months ended September 30, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 2,039 ​ $ 871 ​ $ 3,399 ​ $ 2,223 ​ $ 1,225 ​ $ 2,795 ​ $ 12,552 (Recovery of)/provision for loan losses ​ 85 ​ 48 ​ 97 ​ 271 ​ (67) ​ (28) ​ 406 Charge-offs ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ — Recoveries ​ 6 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ 6 Ending balance ​ $ 2,130 ​ $ 919 ​ $ 3,496 ​ $ 2,494 ​ $ 1,158 ​ $ 2,767 ​ $ 12,964 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Changes in allowance for loan losses for the nine months ended September 30, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 2,579 ​ $ 932 ​ $ 3,233 ​ $ 2,004 ​ $ 1,159 ​ $ 2,632 ​ $ 12,539 (Recovery of)/provision for loan losses ​ (456) ​ (13) ​ 263 ​ 490 ​ (1) ​ 135 ​ 418 Charge-offs ​ — ​ — ​ — ​ — ​ — ​ — ​ — Recoveries ​ 7 ​ — ​ — ​ — ​ — ​ — ​ 7 Ending balance ​ $ 2,130 ​ $ 919 ​ $ 3,496 ​ $ 2,494 ​ $ 1,158 ​ $ 2,767 ​ $ 12,964 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses as of September 30, 2021 allocated to loans evaluated for impairment: ​ ​ ​ ​ ​ ​ ​ Individually ​ $ 32 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,751 ​ $ 1,783 Collectively ​ 2,098 ​ 919 ​ 3,496 ​ 2,494 ​ 1,158 ​ 1,016 ​ 11,181 Ending balance ​ $ 2,130 ​ $ 919 ​ $ 3,496 ​ $ 2,494 ​ $ 1,158 ​ $ 2,767 ​ $ 12,964 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans as of September 30, 2021, evaluated for impairment: ​ ​ ​ ​ ​ ​ ​ Individually ​ $ 41 ​ $ — ​ $ 83 ​ $ — ​ $ 1,250 ​ $ 2,984 ​ $ 4,358 Collectively ​ 293,796 ​ 132,141 ​ 502,356 ​ 358,369 ​ 166,388 ​ 145,975 ​ 1,599,025 Ending balance ​ $ 293,837 ​ $ 132,141 ​ $ 502,439 ​ $ 358,369 ​ $ 167,638 ​ $ 148,959 ​ $ 1,603,383 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 three months ended September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 2,425 ​ $ 484 ​ $ 2,708 ​ $ 1,483 ​ $ 760 ​ $ 2,494 ​ $ 10,354 Provision for/(recovery of) loan losses ​ 192 ​ 249 ​ 392 ​ 207 ​ 309 ​ 147 ​ 1,496 Charge-offs ​ (6) ​ — ​ — ​ — ​ — ​ — ​ (6) Recoveries ​ 1 ​ — ​ — ​ — ​ — ​ — ​ 1 Ending balance ​ $ 2,612 ​ $ 733 ​ $ 3,100 ​ $ 1,690 ​ $ 1,069 ​ $ 2,641 ​ $ 11,845 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Changes in allowance for loan losses for the nine months ended September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 1,058 ​ $ 200 ​ $ 2,850 ​ $ 1,176 ​ $ 911 ​ $ 1,680 ​ $ 7,875 Provision for/(recovery of) loan losses ​ 1,571 ​ 533 ​ 250 ​ 514 ​ 158 ​ 961 ​ 3,987 Charge-offs ​ (30) ​ — ​ — ​ — ​ — ​ — ​ (30) Recoveries ​ 13 ​ — ​ — ​ — ​ — ​ — ​ 13 Ending balance ​ $ 2,612 ​ $ 733 ​ $ 3,100 ​ $ 1,690 ​ $ 1,069 ​ $ 2,641 ​ $ 11,845 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ 281,943 ​ ​ 162,563 ​ 142,502 ​ 1,530,127 Ending balance ​ $ 357,020 ​ $ 131,111 ​ $ 455,038 ​ $ 281,943 ​ $ 163,042 ​ $ 146,031 ​ $ 1,534,185 ​ 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 September 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ September 30, 2021 Pass Mention Substandard ​ Total Cash, Securities and Other ​ $ 293,796 ​ $ — ​ $ 41 ​ $ 293,837 Construction and Development ​ 129,618 ​ 2,523 ​ — ​ 132,141 1-4 Family Residential ​ ​ 502,356 ​ ​ — ​ ​ 83 ​ ​ 502,439 Non-Owner Occupied CRE ​ ​ 352,429 ​ ​ 5,940 ​ ​ — ​ ​ 358,369 Owner Occupied CRE ​ ​ 165,690 ​ ​ — ​ ​ 1,948 ​ ​ 167,638 Commercial and Industrial ​ 144,093 ​ — ​ 4,866 ​ 148,959 Total ​ $ 1,587,982 ​ $ 8,463 ​ $ 6,938 ​ $ 1,603,383 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ The Company had no loans graded doubtful as of September 30, 2021 and December 31, 2020.

GOODWILL

GOODWILL	9 Months Ended
	Sep. 30, 2021
Goodwill.
Goodwill	NOTE 4 - GOODWILL Changes in the carrying amount of goodwill were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2021 ​ 2020 Beginning balance $ 24,191 ​ $ 19,686 Acquisition activity ​ — ​ ​ 4,505 Ending balance $ 24,191 ​ $ 24,191 ​ 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. Goodwill is tested annually for impairment on October 31 or earlier upon the occurrence of certain events. Step 1 of the 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 required to perform the second step to the impairment test. As of September 30, 2021 and December 31, 2020, the Company's reporting unit 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 more likely than not that the fair value of the reporting unit exceeded the carrying value.

LEASES

LEASES	9 Months Ended
	Sep. 30, 2021
LEASES
LEASES	NOTE 5 - 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. 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 Condensed Consolidated Balance Sheets. The Company elected to not include short-term leases with initial terms of twelve months or less, on the Condensed Consolidated Balance Sheets, (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ ​ 2021 ​ 2020 Lease Right-of-Use Assets Classification ​ ​ ​ ​ ​ ​ Operating lease right-of-use assets Other assets ​ $ 11,450 ​ $ 11,341 ​ ​ ​ ​ ​ ​ ​ ​ Lease Liabilities Classification ​ ​ ​ ​ ​ ​ Operating lease liabilities Other liabilities ​ $ 14,608 ​ $ 13,970 ​ 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. ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2021 ​ 2020 Weighted-Average Remaining Lease Term ​ ​ ​ ​ ​ Operating leases 5.42 years ​ 4.79 years ​ ​ ​ ​ ​ ​ Weighted-Average Discount Rate ​ ​ ​ ​ ​ Operating leases 2.69 % ​ 3.04 % ​ 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 Condensed Consolidated Statements of Income. The following table represents the Company’s net lease costs, (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2021 ​ 2020 ​ 2021 ​ 2020 Lease Costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease cost $ 781 ​ $ 786 ​ $ 2,264 ​ $ 2,401 Variable lease cost ​ 488 ​ ​ 557 ​ ​ 1,316 ​ ​ 1,516 Sublease income ​ — ​ ​ (33) ​ ​ — ​ ​ (232) Lease costs, net $ 1,269 ​ $ 1,310 ​ $ 3,580 ​ $ 3,685 ​ 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 September 30, 2021(in thousands): ​ ​ ​ ​ Year Ending December 31, ​ Operating Leases 2021 (1) ​ $ 850 2022 ​ 3,450 2023 ​ ​ 3,210 2024 ​ 3,064 2025 ​ 2,073 Thereafter ​ 2,871 Total future minimum lease payments ​ ​ 15,518 Less: imputed interest ​ ​ (910) Present value of net future minimum lease payments ​ $ 14,608 ________________________________________ (1)

DEPOSITS

DEPOSITS	9 Months Ended
	Sep. 30, 2021
Deposits [Abstract]
DEPOSITS	NOTE 6 - DEPOSITS The following presents the Company’s interest-bearing deposits as of the dates noted (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2021 2020 Money market deposit accounts ​ $ 905,196 ​ $ 847,430 Time deposits ​ 137,015 ​ 172,682 Negotiable order of withdrawal accounts ​ 137,833 ​ 113,052 Savings accounts ​ 5,620 ​ 5,289 Total interest-bearing deposits ​ $ 1,185,664 ​ $ 1,138,453 Aggregate time deposits of $250,000 or greater ​ $ 64,902 ​ $ 73,401 ​ Deposits acquired through acquisitions during the year ended 2020 totaled $63.1 million. Overdraft balances classified as loans totaled $0.1 million as of September 30, 2021 and December 31, 2020. The following presents the scheduled maturities of all time deposits for the next five years ending September 30 (in thousands): ​ ​ ​ ​ Year Ending December 31, ​ Time Deposits 2021 (1) ​ $ 39,977 2022 ​ 63,709 2023 ​ 24,819 2024 ​ 2,635 2025 ​ 1,541 Thereafter ​ 4,334 Total ​ $ 137,015 ________________________________________ (1)

BORROWINGS

BORROWINGS	9 Months Ended
	Sep. 30, 2021
BORROWINGS
BORROWINGS	NOTE 7 - 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 September 30, 2021 and December 31, 2020 amounted to $767.8 million and $668.6 million, respectively. Based on this collateral and the Company’s holdings of FHLB stock, the Company was eligible to borrow an additional $504.7 million as of September 30, 2021. 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, Maturity Date Rate % 2021 2020 April 22, 2022 ​ 0.37 ​ $ 5,000 ​ $ 5,000 May 5, 2023 ​ 0.76 ​ ​ 10,000 ​ ​ 10,000 Total ​ $ 15,000 ​ $ 15,000 ​ 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 and bearing interest at 35 bps. The terms of the loans are directly tied to the underlying PPP loans, which were originated at 2 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 September 30, 2021 and December 31, 2020, there were no amounts outstanding on any of the federal funds lines. On October 28, 2020, the Company entered into a Business Loan Agreement and associated Promissory Note (the "Note"), dated June 30, 2020, with a correspondent lending partner. The Note is secured by stock of the Bank and bears interest at the one month ICE Benchmark Administration ("IBA") LIBOR plus 2.5%. As of December 31, 2020, there were no amounts outstanding and the borrowing capacity associated with this facility was $5.0 million. The Business Loan Agreement expired on June 30, 2021, in accordance with its terms, and was not renewed. On August 31, 2021, the Company completed the issuance and sale of subordinated notes (the "Notes") totaling $15.0 million in aggregate principal amount. The issuance included $0.3 million of issuance costs resulting in a net balance of $14.7 million as of September 30, 2021 included in the Subordinated notes line of the Condensed Consolidated Balance Sheets. The Notes accrue interest at a rate of 3.25% per annum until September 1, 2026, at which time the rate will adjust each quarter to the then current three-month SOFR, or an alternative rate determined in accordance with the terms of the Notes, plus 258 basis points; mature on September 1, 2031; are redeemable at the option of the Company on or after September 1, 2026; and pay interest quarterly. 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 16 – Regulatory Capital Matters). As of September 30, 2021 and December 31, 2020, the Company was in compliance with the covenant requirements.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2021
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 8 - 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 Condensed 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ December 31, 2020 ​ Fixed Rate Variable Rate Fixed Rate Variable Rate Unused lines of credit ​ $ 73,975 ​ $ 418,045 ​ $ 78,506 ​ $ 360,883 Standby letters of credit ​ ​ 3,540 ​ ​ 20,940 ​ ​ 1,933 ​ ​ 17,524 Commitments to make loans to sell ​ ​ 113,746 ​ ​ — ​ ​ 370,512 ​ ​ — Commitments to make loans ​ ​ 40,804 ​ ​ 15,236 ​ ​ 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 lend to a client which would then be sold 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 condensed consolidated financial statements.

SHAREHOLDERS EQUITY

SHAREHOLDERS EQUITY	9 Months Ended
	Sep. 30, 2021
SHAREHOLDERS EQUITY
SHAREHOLDERS EQUITY	NOTE 9 - 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 was in effect for a one-year 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 SEC, 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 three and nine months ended September 30, 2021, the Company did not repurchase any shares under the 2020 Repurchase Plan. During the the nine months ended September 30, 2021 and 2020, 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 As of September 30, 2021, the Restricted Stock Awards have a weighted-average grant date fair value of $28.50 per share. The Company recognized compensation expense of $0.1 million for the three months ended September 30, 2021 and 2020, for the Restricted Stock Awards. During the the nine months ended September 30, 2021 and 2020, the Company recognized compensation expense of $0.2 million and $0.3 million, respectively, for the Restricted Stock Awards. As of September 30, 2021, the Company has $ 0.3 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 September 30, 2021, there were a total of 398,934 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 nine months ended September 30, 2021 and 2020. During the three months ended September 30, 2021 and 2020, the Company recognized an immaterial amount and $0.1 million, respectively, of stock based compensation expense associated with stock options. During the nine months ended September 30, 2021 and 2020, the Company recognized an immaterial amount and $0.2 million, respectively, of stock based compensation expense associated with stock options. As of September 30, 2021, 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 nine months ended September 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ Number ​ Average ​ Remaining ​ Aggregate ​ ​ of ​ Exercise ​ Contractual ​ Intrinsic ​ Options Price Term Value Outstanding as of December 31, 2020 ​ 419,197 ​ $ 29.02 ​ ​ ​ ​ Granted ​ — ​ ​ — ​ ​ ​ ​ Exercised ​ (3,750) ​ ​ 21.00 ​ ​ ​ ​ Forfeited or expired ​ (36,050) ​ ​ 35.91 ​ ​ ​ ​ Outstanding as of September 30, 2021 ​ 379,397 ​ ​ 28.44 ​ 1.9 ​ (1) Options fully vested / exercisable as of September 30, 2021 ​ 375,827 ​ ​ 28.46 ​ 1.8 ​ (1) ______________________________________ (1) As of September 30, 2021, there were 375,827 options 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. Historically, the Company has 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 nine months ended September 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Time ​ Financial ​ Market ​ ​ Vesting ​ Performance ​ Performance ​ Units Units Units Outstanding as of December 31, 2020 ​ 285,052 ​ 152,430 ​ 14,862 Granted ​ 59,194 ​ 41,743 ​ — Vested ​ (66,453) ​ — ​ — Forfeited ​ (14,307) ​ (10,149) ​ (1,116) Outstanding as of September 30, 2021 ​ 263,486 ​ 184,024 ​ 13,746 ​ During the three months ended September 30, 2021, the Company issued 4,292 shares of common stock upon the settlement of Restricted Stock Units. The remaining 1,733 shares were surrendered with a combined market value at the dates of settlement of an immaterial amount to cover employee withholding taxes. During the nine months ended September 30, 2021, the Company issued 47,351 shares of common stock upon the settlement of Restricted Stock Units. The remaining 19,102 shares were surrendered with a combined market value at the dates of settlement of $0.5 million to cover employee withholding taxes. During the nine months ended September 30, 2020, the Company issued 34,260 shares of common stock upon the settlement of Restricted Stock Units. The remaining 19,852 shares were surrendered with a combined market value at the dates of settlement of $0.3 million to cover employee withholding taxes. Time Vesting Units 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 59,194 Time Vesting Units with a five-year service period during the the nine months ended September 30, 2021, that vest in equal installments of 20% on the anniversary of the grant date, assuming continuous employment through the scheduled vesting dates. During the three months ended September 30, 2021 and 2020, the Company recognized compensation expense of $0.4 million and $0.4 million, respectively, for the Time Vesting Units. During the nine months ended September 30, 2021 and 2020, the Company recognized compensation expense of $1.2 million and $1.0 million, respectively, for the Time Vesting Units. As of September 30, 2021, 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 1.8 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 September 30, 2021 (dollars in thousands, except share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 9,198 ​ $ 18 ​ 0.3 years ​ December 31, 2019 ​ December 31, 2021 May 1, 2019 through April 30, 2020 ​ 150% 80,255 ​ ​ 372 ​ 2.3 years ​ December 31, 2021 ​ December 31, 2023 May 1, 2020 through December 31, 2020, excluding November 18, 2020 ​ 150% 81,516 ​ ​ 474 ​ 3.3 years ​ December 31, 2022 ​ December 31, 2023 On November 18, 2020 ​ 150% 34,752 ​ ​ 346 ​ 3.1 years ​ December 31, 2022 ​ 50% November 18, 2023 & 2025 May 3, 2021 through August 11, 2021 ​ 150% 61,118 ​ ​ 970 ​ 4.3 years ​ December 31, 2023 ​ December 31, 2025 ______________________________________ (1) The following presents the Company’s Financial Performance Units activity for the nine months ended September 30 of the years noted (dollars in thousands, except share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Units Granted ​ Compensation Expense Recognized Grant Period ​ 2021 ​ 2020 ​ 2021 ​ 2020 Prior to May 1, 2019 ​ — ​ — ​ $ 23 ​ $ 49 May 1, 2019 through April 30, 2020 ​ — ​ 1,866 ​ ​ 154 ​ ​ 246 May 1, 2020 through December 31, 2020, excluding November 18, 2020 ​ — ​ 58,993 ​ ​ 153 ​ ​ 97 On November 18, 2020 ​ ​ ​ — ​ ​ 94 ​ ​ — May 3, 2021 through August 11, 2021 ​ 41,743 ​ — ​ ​ 140 ​ ​ — ​ 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 the three and nine months ended September 30, 2021 and 2020, the Company recognized an immaterial amount of compensation expense for the Market Performance Units. As of September 30, 2021, 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 less than one year. 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	9 Months Ended
	Sep. 30, 2021
EARNINGS PER COMMON SHARE
EARNINGS PER COMMON SHARE	NOTE 10 - EARNINGS PER COMMON SHARE The table below presents the calculation of basic and diluted earnings per common share for the periods indicated (dollars in thousands, except share and per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2021 2020 2021 2020 Earnings per common share - Basic ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income available for common shareholders ​ $ 6,417 $ 9,630 ​ $ 18,693 $ 19,660 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average shares ​ 7,979,869 7,911,871 ​ 7,959,268 7,888,675 Earnings per common share - basic ​ $ 0.80 ​ $ 1.22 ​ $ 2.35 ​ $ 2.49 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings per common share - Diluted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income available for common shareholders ​ $ 6,417 $ 9,630 ​ $ 18,693 $ 19,660 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average shares ​ ​ 7,979,869 ​ ​ 7,911,871 ​ ​ 7,959,268 ​ ​ 7,888,675 Diluted effect of common stock equivalents: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock options ​ ​ 35,428 ​ ​ — ​ ​ 25,400 ​ ​ — Time Vesting Units ​ ​ 144,479 ​ ​ 85,897 ​ ​ 126,231 ​ ​ 44,310 Financial Performance Units ​ ​ 73,135 ​ ​ 7,786 ​ ​ 64,542 ​ ​ 16,176 Market Performance Units ​ ​ 13,442 ​ ​ 13,453 ​ ​ 13,825 ​ ​ 13,347 Total diluted effect of common stock equivalents ​ ​ 266,484 ​ ​ 107,136 ​ ​ 229,998 ​ ​ 73,833 Diluted weighted average shares ​ 8,246,353 8,019,007 ​ 8,189,266 7,962,508 Earnings per common share - diluted ​ $ 0.78 ​ $ 1.20 ​ $ 2.28 ​ $ 2.47 ​ Diluted earnings per share was computed without consideration to potentially dilutive instruments as their inclusion would have been anti-dilutive. The table below presents potentially dilutive securities excluded from the diluted earnings per share calculation for the periods indicated: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ 2021 ​ 2020 ​ 2021 ​ 2020 Stock options ​ ​ 139,639 ​ ​ 419,197 ​ 186,462 ​ ​ 419,197 Time Vesting Units ​ ​ — ​ ​ 82,600 ​ 1,327 ​ ​ 87,304 Financial Performance Units ​ ​ 40,745 ​ ​ 116,051 ​ 30,216 ​ ​ 70,769 Restricted Stock Awards ​ ​ 10,527 ​ ​ 21,054 ​ 10,527 ​ ​ 41,517 Total potentially dilutive securities ​ ​ 190,911 ​ ​ 638,902 ​ 228,532 ​ ​ 618,787 ​

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2021
INCOME TAXES
INCOME TAXES	NOTE 11 - INCOME TAXES During the three and nine months ended September 30, 2021, the Company recorded an income tax provision of $2.0 million and $6.0 million, respectively, reflecting an effective tax rate of 24.2% and 24.3%, respectively. During the three and nine months ended September 30, 2020, the Company recorded an income tax provision of $3.2 million and $6.3 million, respectively, reflecting an effective tax rate of 24.9% and 24.3%, respectively.

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2021
RELATED-PARTY TRANSACTIONS
RELATED-PARTY TRANSACTIONS	​ ​ NOTE 12 - RELATED-PARTY TRANSACTIONS The Bank extends credit to certain covered parties including Company directors, executive officers and their affiliates. As of September 30, 2021 and December 31, 2020, 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): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 December 31, 2020 Balance, beginning of year ​ $ 14,321 ​ $ 5,675 Funded loans ​ 6,172 ​ 17,348 Payments collected ​ (7,381) ​ (8,702) Balance, end of period ​ $ 13,112 ​ $ 14,321 ​ Deposits from related parties held by the Bank as of September 30, 2021 and December 31, 2020 totaled $39.9 million and $26.2 million, respectively. The Company leases office spaces from entities controlled by one of the Company’s board members. During the nine months ended September 30, 2021 and 2020, the Company incurred $0.2 million and $0.1 million, respectively, of expenses related to these leases.

FAIR VALUE

FAIR VALUE	9 Months Ended
	Sep. 30, 2021
FAIR VALUE
FAIR VALUE	NOTE 13 - 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 : Mortgage Related Derivatives : The fair value estimate of the forward commitments is based on market prices of similar securities to the underlying MBS (Level 2). Our mortgage derivatives are carried at fair value in the Company’s financial statements with changes in the fair value accounted for within the Condensed Consolidated Statements of Income. Mortgage Loans Held for Sale : 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 September 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Other ​ Significant ​ ​ ​ ​ ​ for Identical ​ Observable ​ Unobservable ​ ​ ​ ​ ​ Assets ​ Inputs ​ Inputs ​ Reported September 30, 2021 ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Balance Investment securities available-for-sale: ​ ​ ​ ​ U.S. Treasury debt ​ $ 249 ​ $ — ​ $ — ​ $ 249 Corporate bonds ​ ​ — ​ ​ 8,356 ​ ​ — ​ ​ 8,356 GNMA mortgage-backed securities - residential ​ — ​ 20,811 ​ — ​ 20,811 FNMA mortgage-backed securities - residential ​ ​ — ​ ​ 1,155 ​ ​ — ​ ​ 1,155 Corporate CMO and MBS ​ — ​ 1,662 ​ — ​ 1,662 Total securities available-for-sale ​ $ 249 ​ $ 31,984 ​ $ — ​ $ 32,233 Equity securities ​ $ 716 ​ $ — ​ $ — ​ $ 716 Guarantee asset ​ $ — ​ $ — ​ $ 231 ​ $ 231 IRLC, net ​ $ — ​ $ — ​ $ 2,185 ​ $ 2,185 Forward commitments and FSC ​ $ — ​ $ 498 ​ $ (17) ​ $ 481 Mortgage loans held for sale ​ $ — ​ $ 51,309 ​ $ — ​ $ 51,309 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, net ​ $ — ​ $ — ​ $ 9,841 ​ $ 9,841 Forward commitments and FSC ​ $ — ​ $ (2,534) ​ $ (89) ​ $ (2,623) Mortgage loans held for sale ​ $ — ​ $ 161,843 ​ $ — ​ $ 161,843 ​ The following presents a reconciliation for Level 3 instruments measured at fair value on a recurring basis (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, 2021 Guarantee Asset IRLC FSC Beginning balance ​ $ 196 ​ $ 2,809 ​ $ — Acquisitions ​ — ​ ​ 6,617 ​ ​ (17) Originations ​ — ​ ​ (7,705) ​ ​ — Gains (losses) in net income, net ​ ​ 35 ​ ​ 464 ​ ​ — Ending balance ​ $ 231 ​ $ 2,185 ​ $ (17) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, 2020 Guarantee Asset IRLC FSC Beginning balance ​ $ 222 ​ $ 7,566 ​ $ (84) Acquisitions ​ — ​ ​ 9,546 ​ ​ (89) Originations ​ — ​ ​ (6,466) ​ ​ — Gains (losses) in net income, net ​ ​ 23 ​ ​ 1,065 ​ ​ 84 Ending balance ​ $ 245 ​ $ 11,711 ​ $ (89) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2021 Guarantee Asset IRLC FSC Beginning balance ​ $ 232 ​ $ 9,841 ​ $ (89) Acquisitions ​ — ​ ​ 15,123 ​ ​ (190) Originations ​ 2 ​ ​ (20,702) ​ ​ — Gains (losses) in net income, net ​ ​ (3) ​ ​ (2,077) ​ ​ 262 Ending balance ​ $ 231 ​ $ 2,185 ​ $ (17) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2020 Guarantee Asset IRLC FSC Beginning balance ​ $ — ​ $ 1,184 ​ $ — Acquisitions ​ — ​ ​ 26,264 ​ ​ (189) Originations ​ — ​ ​ (17,449) ​ ​ — Sales ​ 245 ​ ​ — ​ ​ — Gains (losses) in net income, net ​ ​ — ​ ​ 1,712 ​ ​ 100 Ending balance ​ $ 245 ​ $ 11,711 ​ $ (89) ​ U.S. Treasury debt is 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 September 30, 2021 and December 31, 2020, 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 September 30, 2021, equity securities, IRLC, and guarantee assets have been recorded at fair value within the Other assets line item and the FSC have been recorded at fair value within the Other liabilities line item in the Condensed Consolidated Balance Sheets. All changes are recorded in the Other line item in the Condensed Consolidated Statements of Income. The following presents quantitative information about Level 3 assets measured on a recurring basis as of September 30, 2021 and December 31, 2020 (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements as of September 30, 2021 ​ ​ ​ ​ ​ Valuation ​ Significant ​ Range ​ ​ Fair Value ​ Technique ​ Unobservable Input ​ (Weighted Average) Guarantee asset ​ $ 231 ​ ​ Discounted cash flow ​ ​ Discount rate ​ ​ 3% (3%) 19% (19%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ IRLC, net ​ ​ 2,185 ​ ​ Best execution model ​ ​ Pull through ​ ​ 72% to 100% (90%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FSC ​ ​ (17) ​ ​ Internal pricing model ​ ​ Market Differential ​ ​ -84bps to -50bps (-75bps) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, net ​ ​ 9,841 ​ ​ Best execution model ​ ​ Pull through ​ ​ 55% to 100% (86%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FSC ​ ​ (89) ​ ​ Internal pricing model ​ ​ Market Differential ​ ​ -59bps to -17bps (- ​ The following presents assets measured on a nonrecurring basis as of September 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ Prices in ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Other ​ Significant ​ ​ ​ ​ ​ for Identical ​ Observable ​ Unobservable ​ ​ ​ ​ ​ Assets ​ Inputs ​ Inputs ​ Reported September 30, 2021 ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Balance Impaired loans (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and Industrial ​ $ — ​ $ — ​ $ 479 ​ $ 479 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and Industrial ​ $ — ​ $ — ​ $ 1,800 ​ $ 1,800 ______________________________________ (1) The sales comparison approach was utilized for estimating the fair value of non-recurring assets. As of September 30, 2021, the Company did not own any OREO properties. 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 September 30, 2021, total impaired loans measured for impairment using the fair value of the collateral for collateral dependent loans had carrying values of $2.3 million with valuation allowances of $1.8 million and were classified as Level 3. As of December 31, 2020, 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. Impaired loans accounted for specific reserves of $1.8 million and $1.6 million as of September 30, 2021 and December 31, 2020. The Company did not have any charge offs during the nine months ended September 30, 2021 from the specific reserve. The Company charged off an immaterial amount during the year ended December 31, 2020 from the specific reserve. The following presents quantitative information about the significant unobservable inputs used in the fair value measurement of nonrecurring assets categorized within Level 3 of the fair value hierarchy as of September 30, 2021 and December 31, 2020 (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements as of September 30, 2021 ​ ​ ​ ​ ​ Valuation ​ Significant ​ Range ​ ​ Fair Value ​ Technique ​ Unobservable Input ​ (Weighted Average) Impaired loans (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and Industrial ​ $ 479 ​ ​ Sales comparison, Market approach - guideline transaction method ​ ​ Management discount for asset/property type ​ ​ 17% - 45% (39%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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) The following presents carrying amounts and estimated fair values for financial instruments not carried at fair value as of September 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Fair Value Measurements Using: September 30, 2021 Amount Level 1 Level 2 Level 3 Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 310,235 ​ $ 310,235 ​ $ — ​ $ — Loans, net ​ 1,590,086 ​ — ​ — ​ 1,577,103 Accrued interest receivable ​ 6,306 ​ — ​ 20 ​ 6,286 Liabilities: ​ ​ ​ ​ Deposits ​ ​ 1,782,299 ​ ​ — ​ ​ 1,783,610 ​ ​ — Borrowings: ​ ​ ​ ​ FHLB borrowings – fixed rate ​ 15,000 ​ — ​ 15,056 ​ — Federal Reserve borrowings – fixed rate ​ 43,564 ​ — ​ 43,564 ​ — Subordinated notes – fixed-to-floating rate ​ 39,010 ​ — ​ — ​ 40,313 Accrued interest payable ​ ​ 357 ​ ​ — ​ ​ 173 ​ ​ 184 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 Accrued interest receivable ​ 6,618 ​ — ​ 90 ​ 6,528 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 ​ ​ — ​ ​ 124 ​ ​ 329 ​ 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 Accrued Interest Receivable and Payable Deposits Fixed Rate Borrowings Fixed-to-Floating Rate Borrowings

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
	Sep. 30, 2021
SEGMENT REPORTING
SEGMENT REPORTING	NOTE 14 - 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 2020 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 as of or for the three and nine months ended September 30, 2021 and 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of and for the three months ended September 30, 2021 ​ Wealth ​ Mortgage ​ Consolidated Income Statement ​ ​ ​ ​ ​ ​ ​ ​ ​ Total interest income $ 16,146 $ — $ 16,146 Total interest expense ​ ​ 1,300 ​ ​ — ​ ​ 1,300 Provision for loan losses ​ ​ 406 ​ ​ — ​ ​ 406 Net interest income, after provision for loan losses ​ ​ 14,440 ​ ​ — ​ ​ 14,440 Non-interest income ​ ​ 5,998 ​ ​ 4,497 ​ ​ 10,495 Total income before non-interest expense ​ ​ 20,438 ​ ​ 4,497 ​ ​ 24,935 Depreciation and amortization expense ​ ​ 272 ​ 13 ​ 285 All other non-interest expense ​ ​ 13,967 ​ ​ 2,217 ​ ​ 16,184 Income before income taxes ​ $ 6,199 ​ $ 2,267 ​ $ 8,466 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 24,191 $ — $ 24,191 Total assets ​ ​ 2,020,896 ​ 55,376 ​ 2,076,272 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of and for the three months ended September 30, 2020 ​ Wealth ​ Mortgage Consolidated Income Statement ​ ​ ​ ​ ​ ​ ​ ​ Total interest income $ 14,410 ​ $ — $ 14,410 Total interest expense ​ ​ 1,492 ​ ​ — ​ 1,492 Provision for loan losses ​ ​ 1,496 ​ ​ — ​ 1,496 Net interest income, after provision for loan losses ​ ​ 11,422 ​ ​ — ​ 11,422 Non-interest income ​ ​ 5,709 ​ ​ 12,323 ​ 18,032 Total income before non-interest expense ​ ​ 17,131 ​ ​ 12,323 ​ 29,454 Depreciation and amortization expense ​ ​ 260 ​ ​ 14 ​ 274 All other non-interest expense ​ ​ 14,291 ​ ​ 2,067 ​ 16,358 Income before income taxes ​ $ 2,580 ​ $ 10,242 $ 12,822 ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 24,191 ​ $ — $ 24,191 Assets held for sale ​ ​ 3,000 ​ ​ — ​ ​ 3,000 Total assets ​ ​ 1,867,748 ​ ​ 105,149 ​ 1,972,897 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of and for the nine months ended September 30, 2021 ​ Wealth ​ Mortgage ​ Consolidated Income Statement ​ ​ ​ ​ ​ ​ ​ ​ ​ Total interest income $ 46,193 $ — $ 46,193 Total interest expense ​ ​ 4,071 ​ ​ — ​ 4,071 Provision for loan losses ​ ​ 418 ​ ​ — ​ 418 Net interest income, after provision for loan losses ​ ​ 41,704 ​ ​ — ​ 41,704 Non-interest income ​ ​ 16,987 ​ ​ 13,621 ​ 30,608 Total income before non-interest expense ​ ​ 58,691 ​ ​ 13,621 ​ 72,312 Depreciation and amortization expense ​ ​ 792 ​ ​ 40 ​ 832 All other non-interest expense ​ ​ 38,800 ​ ​ 7,987 ​ 46,787 Income before income taxes ​ $ 19,099 ​ $ 5,594 $ 24,693 ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 24,191 ​ $ — $ 24,191 Total assets ​ ​ 2,020,896 ​ ​ 55,376 ​ 2,076,272 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of and for the nine months ended September 30, 2020 ​ Wealth ​ Mortgage Consolidated Income Statement ​ ​ ​ ​ ​ ​ ​ ​ Total interest income $ 38,392 ​ $ — $ 38,392 Total interest expense ​ ​ 5,747 ​ ​ — ​ 5,747 Provision for loan losses ​ ​ 3,987 ​ ​ — ​ 3,987 Net interest income, after provision for loan losses ​ ​ 28,658 ​ ​ — ​ 28,658 Non-interest income ​ ​ 16,202 ​ ​ 25,024 ​ 41,226 Total income before non-interest expense ​ ​ 44,860 ​ ​ 25,024 ​ 69,884 Depreciation and amortization expense ​ ​ 770 ​ ​ 56 ​ 826 All other non-interest expense ​ ​ 37,391 (1) ​ 5,706 ​ 43,097 Income before income taxes ​ $ 6,699 ​ $ 19,262 $ 25,961 ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 24,191 ​ $ — $ 24,191 Assets held for sale ​ ​ 3,000 ​ ​ — ​ ​ 3,000 Total assets ​ ​ 1,867,748 ​ ​ 105,149 ​ 1,972,897 ______________________________________ (1)

LOW-INCOME HOUSING TAX CREDIT I

LOW-INCOME HOUSING TAX CREDIT INVESTMENT	9 Months Ended
	Sep. 30, 2021
LOW-INCOME HOUSING TAX CREDIT INVESTMENTS
LOW-INCOME HOUSING TAX CREDIT INVESTMENTS	NOTE 15 – LOW-INCOME HOUSING TAX CREDIT INVESTMENTS On December 19, 2019, the Company invested in a low-income housing tax credit ("LIHTC") investment. As of September 30, 2021 and December 31, 2020, the balance of the investment for LIHTC was $2.8 million and $1.1 million, respectively. These balances are reflected in the Other assets line item of the Condensed Consolidated Balance Sheets. Total unfunded commitments related to the investment in the LIHTC total $0.2 million and $2.2 million as of September 30, 2021 and December 31, 2020, respectively. 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 three and nine months ended September 30, 2021, the Company recognized amortization expense of $0.1 million and $0.3 million, respectively, which was included within the Income tax expense line item of the Condensed Consolidated Statements of Income. The Company did not recognize any related amortization expense during the three and nine months ended September 30, 2020. Additionally, during the three and nine months ended September 30, 2021, the Company recognized $0.1 million and $0.3 million of tax credits and other benefits from this investment in the LIHTC. The Company did not recognize any related tax credits or other benefits during the three and nine months ended September 30, 2020. During the three and nine months ended September 30, 2021 and 2020, the Company did not incur any impairment losses.

REGULATORY CAPITAL MATTERS

REGULATORY CAPITAL MATTERS	9 Months Ended
	Sep. 30, 2021
REGULATORY CAPITAL MATTERS
REGULATORY CAPITAL MATTERS	NOTE 16 - 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. Management believes as of September 30, 2021, First Western and the Bank meet all capital adequacy requirements to which they are 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 ("CET1"), 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 September 30, 2021, 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 CET1 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 September 30, 2021 and 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 CET1 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 September 30, 2021, 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 was subject as of September 30, 2021 and December 31, 2020. The following presents the actual and required capital amounts and ratios as of September 30, 2021 and December 31, 2020 (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ To be Well Capitalized ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Under Prompt ​ ​ ​ ​ ​ ​ ​ ​ Required for Capital ​ ​ Corrective Action ​ ​ Actual ​ ​ Adequacy Purposes (1) ​ ​ Regulations September 30, 2021 Amount Ratio ​ Amount Ratio ​ Amount Ratio Tier 1 capital to risk-weighted assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ $ 156,136 11.02 % ​ $ 85,019 6.0 % ​ $ 113,359 ​ 8.0 % Consolidated ​ ​ 151,950 ​ 10.66 ​ ​ ​ N/A ​ N/A ​ ​ ​ N/A ​ N/A ​ CET1 to risk-weighted assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ ​ 156,136 11.02 ​ ​ ​ 63,764 4.5 ​ ​ ​ 92,104 6.5 ​ Consolidated ​ ​ 151,950 ​ 10.66 ​ ​ ​ N/A ​ N/A ​ ​ ​ N/A ​ N/A ​ Total capital to risk-weighted assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ ​ 169,435 11.96 ​ ​ 113,359 8.0 ​ ​ 141,699 10.0 ​ Consolidated ​ ​ 204,809 ​ 14.37 ​ ​ ​ N/A ​ N/A ​ ​ ​ N/A ​ N/A ​ Tier 1 capital to average assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ ​ 156,136 8.11 ​ ​ 77,047 4.0 ​ ​ 96,308 5.0 ​ Consolidated ​ ​ 151,950 ​ 7.86 ​ ​ ​ 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, 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 ​ ______________________________________ (1) .

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2021
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") and Ryder, Stilwell Inc. ("RSI"). 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"). RSI and RRI are 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 condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission ("SEC"). Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. The December 31, 2020 condensed consolidated balance sheet has been derived from the audited financial statements for the year ended December 31, 2020. In the opinion of management, all adjustments that were recurring in nature and considered necessary have been included for fair presentation of the Company’s financial position and results of operations. Operating results for the three and nine months ended September 30, 2021 are not necessarily indicative of results that may be expected for the full year ending December 31, 2021. In preparing the condensed consolidated financial statements, the Company is required to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could be significantly different from those estimates. The condensed consolidated financial statements and notes should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC.
Consolidation	Consolidation
Acquisitions	Business Combinations and Divestitures 30, 2021, the Company has incurred $0.4 million in merger related expenses, which are included in the Professional services line of the Condensed Consolidated Statements of Income. ​
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.
Concentration of Credit Risk	Concentration of Credit Risk
Mortgage Banking Derivatives	Mortgage Banking Derivatives In order to manage the interest rate risk on our uncommitted IRLC and mortgage loans held for sale pipeline, the Company enters into mortgage derivative financial instruments called To Be Announced ("TBA"), which we refer to as forward commitments. TBA agreements are forward contracts to purchase mortgage backed securities ("MBS") that will be issued by a US Government Sponsored Enterprise. The Bank purchases or sells these derivatives to offset the changes in value of our mortgage loans held for sale and IRLC adjusted pipeline where we have exposure to interest rate volatility. Changes in the fair values of these derivatives are included in the Net gain on mortgage loans line of the Condensed Consolidated Statements of Income.
Revenue Recognition	Revenue Recognition
Transition of LIBOR to an Alternative Reference Rate	Transition of LIBOR to an Alternative Reference Rate The administrator of LIBOR has proposed to extend publication of the most commonly used U.S. Dollar LIBOR settings to June 30, 2023, and to cease publishing other LIBOR settings on December 31, 2021. Certain of the Company’s assets and liabilities are indexed to LIBOR, with exposure extending beyond 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, fallback language, and other aspects of planning. The Company has prepared a timeline to transition from LIBOR before the end of 2021.
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 since the program was created. PPP loans are classified in the Cash, Securities and Other portion of the loan portfolio. See Note 3 for further discussion on our PPP loans. 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 and had a risk rating of “pass” and had not been delinquent in making interest or principal payment by more than 30 days during the last two years. The CARES Act provides banks optional, temporary relief from accounting for certain loan modifications as troubled debt restructurings ("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 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 September 30, 2021. See Note 3 for further discussion on our loan modification program. 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 3 for further discussion on our participation in the program.
Reclassifications	Reclassifications
Recently adopted accounting pronouncements and Recently issued accounting pronouncements, not yet adopted	Recently adopted accounting pronouncements In January 2021, the FASB issued ASU 2021-01, " Reference Rate Reform (Topic 848) Recently issued accounting pronouncements, not yet adopted In February 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326) ("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 credit 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 nine months ended September 30, 2021, 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 and lease losses ("ALLL") 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

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2021
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 unrealized gains and losses recognized in accumulated other comprehensive income as of September 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Gross ​ Gross ​ ​ ​ ​ ​ Amortized ​ Unrealized ​ Unrealized ​ Fair September 30, 2021 ​ Cost ​ Gains ​ Losses ​ Value Investment securities available-for-sale: ​ ​ ​ ​ U.S. Treasury debt ​ $ 250 ​ $ — ​ $ (1) ​ $ 249 Corporate bonds ​ ​ 8,117 ​ ​ 249 ​ ​ (10) ​ ​ 8,356 GNMA mortgage-backed securities – residential ​ 20,488 ​ 351 ​ (28) ​ 20,811 FNMA mortgage-backed securities – residential ​ ​ 1,102 ​ ​ 53 ​ ​ — ​ ​ 1,155 Corporate CMO and MBS ​ 1,645 ​ 35 ​ (18) ​ 1,662 Total securities available-for-sale ​ $ 31,602 ​ $ 688 ​ $ (57) ​ $ 32,233 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 GNMA mortgage-backed securities – residential ​ 23,806 ​ 798 ​ — ​ 24,604 FNMA mortgage-backed securities – residential ​ ​ 1,616 ​ ​ 61 ​ ​ — ​ ​ 1,677 Corporate CMO and MBS ​ 4,078 ​ 62 ​ (53) ​ 4,087 Total securities available-for-sale ​ $ 35,750 ​ $ 980 ​ $ (64) ​ $ 36,666
Summary of the amortized cost and estimated fair value of available for sale securities, excluding SBIC with contractual maturity dates	As of September 30, 2021, the amortized cost and estimated fair value of available-for-sale securities have contractual maturity dates shown in the table below (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortized Fair September 30, 2021 ​ Cost ​ Value Due within one year ​ $ — ​ $ — Due between one year and five years ​ ​ 250 ​ ​ 249 Due between five years and ten years ​ ​ 8,117 ​ ​ 8,356 Securities (agency, Corporate CMO, and MBS) ​ 23,235 ​ 23,628 Total ​ $ 31,602 ​ $ 32,233
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 September 30, 2021 and December 31, 2020, 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 September 30, 2021 ​ Value ​ Losses ​ Value ​ Losses ​ Value Losses U.S. Treasury debt ​ $ 249 ​ $ (1) ​ $ — ​ $ — ​ $ 249 ​ $ (1) GNMA mortgage-backed securities – residential ​ ​ 7,555 ​ ​ (28) ​ ​ — ​ ​ — ​ ​ 7,555 ​ ​ (28) Corporate bonds ​ ​ 490 ​ ​ (10) ​ ​ — ​ ​ — ​ ​ 490 ​ ​ (10) Corporate CMO and MBS ​ — ​ — ​ 556 ​ (18) ​ 556 ​ (18) Total ​ $ 8,294 ​ $ (39) ​ $ 556 ​ $ (18) ​ $ 8,850 ​ $ (57) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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)

LOANS AND THE ALLOWANCE FOR L_2

LOANS AND THE ALLOWANCE FOR LOAN LOSSES (Tables)	9 Months Ended
	Sep. 30, 2021
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): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2021 2020 Cash, Securities and Other (1) ​ $ 293,837 ​ $ 357,020 Construction and Development ​ 132,141 ​ 131,111 1-4 Family Residential ​ 502,439 ​ 455,038 Non-Owner Occupied CRE ​ 358,369 ​ 281,943 Owner Occupied CRE ​ ​ 167,638 ​ ​ 163,042 Commercial and Industrial (2) ​ ​ 148,959 ​ ​ 146,031 Total loans held for investment ​ 1,603,383 ​ 1,534,185 Deferred fees and unamortized premiums/(unaccreted discounts), net ​ (333) ​ (1,352) Allowance for loan losses ​ (12,964) ​ (12,539) Loans, net ​ $ 1,590,086 ​ $ 1,520,294 ______________________________________ (1) (2)
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 (fees) costs, and unamortized premiums/ (unaccreted discounts) which are not material) in loans past due as of September 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 30-59 60-89 90 or Total ​ ​ Total ​ ​ Days ​ Days ​ More Days ​ Loans ​ ​ ​ ​ Recorded September 30, 2021 ​ Past Due ​ Past Due ​ Past Due ​ Past Due ​ Current ​ Investment Cash, Securities and Other ​ $ 727 ​ $ 14 ​ $ 40 ​ $ 781 ​ $ 293,056 ​ $ 293,837 Construction and Development ​ — ​ ​ 2,522 ​ ​ — ​ 2,522 ​ 129,619 ​ 132,141 1-4 Family Residential ​ 483 ​ ​ — ​ ​ 83 ​ 566 ​ 501,873 ​ 502,439 Non-Owner Occupied CRE ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 358,369 ​ ​ 358,369 Owner Occupied CRE ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 167,638 ​ ​ 167,638 Commercial and Industrial ​ — ​ ​ — ​ ​ 2,230 ​ 2,230 ​ 146,729 ​ 148,959 Total ​ $ 1,210 ​ $ 2,536 ​ $ 2,353 ​ $ 6,099 ​ $ 1,597,284 ​ $ 1,603,383 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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
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): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2021 2020 Cash, Securities and Other ​ $ 41 ​ $ 50 1-4 Family Residential ​ ​ 83 ​ ​ — Owner Occupied CRE ​ ​ 1,250 ​ ​ 479 Commercial and Industrial ​ 2,984 ​ 3,529 Total ​ $ 4,358 ​ $ 4,058
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): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2021 2020 Non-accrual ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 9 ​ $ 48 Commercial and Industrial ​ ​ 2,230 ​ ​ 3,529 Total ​ ​ 2,239 ​ ​ 3,577 Allowance for loan losses associated with TDR ​ (1,751) ​ (1,619) Net recorded investment ​ $ 488 ​ $ 1,958
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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ December 31, 2020 ​ ​ ​ 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 ​ $ 32 ​ $ 32 ​ $ 32 ​ $ 2 ​ $ 2 ​ $ 2 Commercial and Industrial ​ ​ 2,230 ​ ​ 2,230 ​ ​ 1,751 ​ ​ 3,419 ​ ​ 3,419 ​ ​ 1,619 Total ​ $ 2,262 ​ $ 2,262 ​ $ 1,783 ​ $ 3,421 ​ $ 3,421 ​ $ 1,621 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans with no related valuation allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 9 ​ $ 9 ​ $ — ​ $ 48 ​ $ 48 ​ $ — 1-4 Family Residential ​ ​ 83 ​ ​ 83 ​ ​ — ​ ​ — ​ ​ — ​ ​ — Owner Occupied CRE ​ ​ 1,250 ​ ​ 1,250 ​ ​ — ​ ​ 479 ​ ​ 479 ​ ​ — Commercial and Industrial ​ ​ 754 ​ ​ 754 ​ ​ — ​ ​ 110 ​ ​ 110 ​ ​ — Total ​ $ 2,096 ​ $ 2,096 ​ $ — ​ $ 637 ​ $ 637 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total impaired loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 41 ​ $ 41 ​ $ 32 ​ $ 50 ​ $ 50 ​ $ 2 1-4 Family Residential ​ ​ 83 ​ ​ 83 ​ ​ — ​ ​ — ​ ​ — ​ ​ — Owner Occupied CRE ​ ​ 1,250 ​ ​ 1,250 ​ ​ — ​ ​ 479 ​ ​ 479 ​ ​ — Commercial and Industrial ​ ​ 2,984 ​ ​ 2,984 ​ ​ 1,751 ​ ​ 3,529 ​ ​ 3,529 ​ ​ 1,619 Total ​ $ 4,358 ​ $ 4,358 ​ $ 1,783 ​ $ 4,058 ​ $ 4,058 ​ $ 1,621 The recorded investment in loans in the previous tables excludes accrued interest, deferred (fees) costs, 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 three months ended September 30, 2021 and 2020 are included in the table below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ ​ 2021 ​ 2020 ​ ​ Average ​ Interest ​ Average ​ Interest ​ ​ Recorded ​ Income ​ Recorded ​ Income ​ ​ Investment ​ Recognized ​ Investment ​ Recognized Impaired loans with a valuation allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 18 ​ $ — ​ $ 1 ​ $ — Commercial and Industrial ​ ​ 2,635 ​ ​ — ​ ​ 3,427 ​ ​ — Total ​ $ 2,653 ​ $ — ​ $ 3,428 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans with no related valuation allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 10 ​ $ — ​ $ 779 ​ $ — Owner Occupied CRE ​ ​ 625 ​ ​ — ​ ​ — ​ ​ — Commercial and Industrial ​ ​ 410 ​ ​ 220 ​ ​ 6,462 ​ ​ 85 1-4 Family Residential ​ ​ 41 ​ ​ — ​ ​ — ​ ​ — Total ​ $ 1,086 ​ $ 220 ​ $ 7,241 ​ $ 85 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total impaired loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 28 ​ $ — ​ $ 780 ​ $ — Owner Occupied CRE ​ ​ 625 ​ ​ — ​ ​ — ​ ​ — Commercial and Industrial ​ ​ 3,045 ​ ​ 220 ​ ​ 9,889 ​ ​ 85 1-4 Family Residential ​ ​ 41 ​ ​ — ​ ​ — ​ ​ — Total ​ $ 3,739 ​ $ 220 ​ $ 10,669 ​ $ 85 ​ The average balance of impaired loans and interest income recognized on impaired loans during the nine months ended September 30, 2021 and 2020 are included in the table below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, ​ ​ 2021 ​ 2020 ​ ​ Average ​ Interest ​ Average ​ Interest ​ ​ Recorded ​ Income ​ Recorded ​ Income ​ ​ Investment ​ Recognized ​ Investment ​ Recognized Impaired loans with a valuation allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 10 ​ $ — ​ $ 1 ​ $ — Commercial and Industrial ​ ​ 3,027 ​ ​ 21 ​ ​ 3,462 ​ ​ — Total ​ $ 3,037 ​ $ 21 ​ $ 3,463 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans with no related valuation allowance: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 22 ​ $ — ​ $ 1,463 ​ $ — Owner Occupied CRE ​ ​ 313 ​ ​ 51 ​ ​ — ​ ​ — Commercial and Industrial ​ ​ 257 ​ ​ 220 ​ ​ 6,088 ​ ​ 250 1-4 Family Residential ​ ​ 21 ​ ​ — ​ ​ — ​ ​ — Total ​ $ 613 ​ $ 271 ​ $ 7,551 ​ $ 250 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total impaired loans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Securities, and Other ​ $ 32 ​ $ — ​ $ 1,464 ​ $ — Owner Occupied CRE ​ ​ 313 ​ ​ 51 ​ ​ — ​ ​ — Commercial and Industrial ​ ​ 3,284 ​ ​ 241 ​ ​ 9,550 ​ ​ 250 1-4 Family Residential ​ ​ 21 ​ ​ — ​ ​ — ​ ​ — Total ​ $ 3,650 ​ $ 292 ​ $ 11,014 ​ $ 250
Schedule of activity in the Company's allowance for loan losses by portfolio class	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 three months ended September 30, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 2,039 ​ $ 871 ​ $ 3,399 ​ $ 2,223 ​ $ 1,225 ​ $ 2,795 ​ $ 12,552 (Recovery of)/provision for loan losses ​ 85 ​ 48 ​ 97 ​ 271 ​ (67) ​ (28) ​ 406 Charge-offs ​ — ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ — Recoveries ​ 6 ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ 6 Ending balance ​ $ 2,130 ​ $ 919 ​ $ 3,496 ​ $ 2,494 ​ $ 1,158 ​ $ 2,767 ​ $ 12,964 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Changes in allowance for loan losses for the nine months ended September 30, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 2,579 ​ $ 932 ​ $ 3,233 ​ $ 2,004 ​ $ 1,159 ​ $ 2,632 ​ $ 12,539 (Recovery of)/provision for loan losses ​ (456) ​ (13) ​ 263 ​ 490 ​ (1) ​ 135 ​ 418 Charge-offs ​ — ​ — ​ — ​ — ​ — ​ — ​ — Recoveries ​ 7 ​ — ​ — ​ — ​ — ​ — ​ 7 Ending balance ​ $ 2,130 ​ $ 919 ​ $ 3,496 ​ $ 2,494 ​ $ 1,158 ​ $ 2,767 ​ $ 12,964 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Allowance for loan losses as of September 30, 2021 allocated to loans evaluated for impairment: ​ ​ ​ ​ ​ ​ ​ Individually ​ $ 32 ​ $ — ​ $ — ​ $ — ​ $ — ​ $ 1,751 ​ $ 1,783 Collectively ​ 2,098 ​ 919 ​ 3,496 ​ 2,494 ​ 1,158 ​ 1,016 ​ 11,181 Ending balance ​ $ 2,130 ​ $ 919 ​ $ 3,496 ​ $ 2,494 ​ $ 1,158 ​ $ 2,767 ​ $ 12,964 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Loans as of September 30, 2021, evaluated for impairment: ​ ​ ​ ​ ​ ​ ​ Individually ​ $ 41 ​ $ — ​ $ 83 ​ $ — ​ $ 1,250 ​ $ 2,984 ​ $ 4,358 Collectively ​ 293,796 ​ 132,141 ​ 502,356 ​ 358,369 ​ 166,388 ​ 145,975 ​ 1,599,025 Ending balance ​ $ 293,837 ​ $ 132,141 ​ $ 502,439 ​ $ 358,369 ​ $ 167,638 ​ $ 148,959 ​ $ 1,603,383 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 three months ended September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 2,425 ​ $ 484 ​ $ 2,708 ​ $ 1,483 ​ $ 760 ​ $ 2,494 ​ $ 10,354 Provision for/(recovery of) loan losses ​ 192 ​ 249 ​ 392 ​ 207 ​ 309 ​ 147 ​ 1,496 Charge-offs ​ (6) ​ — ​ — ​ — ​ — ​ — ​ (6) Recoveries ​ 1 ​ — ​ — ​ — ​ — ​ — ​ 1 Ending balance ​ $ 2,612 ​ $ 733 ​ $ 3,100 ​ $ 1,690 ​ $ 1,069 ​ $ 2,641 ​ $ 11,845 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Changes in allowance for loan losses for the nine months ended September 30, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Beginning balance ​ $ 1,058 ​ $ 200 ​ $ 2,850 ​ $ 1,176 ​ $ 911 ​ $ 1,680 ​ $ 7,875 Provision for/(recovery of) loan losses ​ 1,571 ​ 533 ​ 250 ​ 514 ​ 158 ​ 961 ​ 3,987 Charge-offs ​ (30) ​ — ​ — ​ — ​ — ​ — ​ (30) Recoveries ​ 13 ​ — ​ — ​ — ​ — ​ — ​ 13 Ending balance ​ $ 2,612 ​ $ 733 ​ $ 3,100 ​ $ 1,690 ​ $ 1,069 ​ $ 2,641 ​ $ 11,845 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ 281,943 ​ ​ 162,563 ​ 142,502 ​ 1,530,127 Ending balance ​ $ 357,020 ​ $ 131,111 ​ $ 455,038 ​ $ 281,943 ​ $ 163,042 ​ $ 146,031 ​ $ 1,534,185
Summary of recorded investment in the Company's loans by class and by credit quality indicator	The following presents, by class and by credit quality indicator, the recorded investment in the Company’s loans as of September 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Special ​ ​ ​ ​ ​ September 30, 2021 Pass Mention Substandard ​ Total Cash, Securities and Other ​ $ 293,796 ​ $ — ​ $ 41 ​ $ 293,837 Construction and Development ​ 129,618 ​ 2,523 ​ — ​ 132,141 1-4 Family Residential ​ ​ 502,356 ​ ​ — ​ ​ 83 ​ ​ 502,439 Non-Owner Occupied CRE ​ ​ 352,429 ​ ​ 5,940 ​ ​ — ​ ​ 358,369 Owner Occupied CRE ​ ​ 165,690 ​ ​ — ​ ​ 1,948 ​ ​ 167,638 Commercial and Industrial ​ 144,093 ​ — ​ 4,866 ​ 148,959 Total ​ $ 1,587,982 ​ $ 8,463 ​ $ 6,938 ​ $ 1,603,383 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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

GOODWILL (Tables)

GOODWILL (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill.
Schedule of changes in carrying amount of goodwill	Changes in the carrying amount of goodwill were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2021 ​ 2020 Beginning balance $ 24,191 ​ $ 19,686 Acquisition activity ​ — ​ ​ 4,505 Ending balance $ 24,191 ​ $ 24,191

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2021
LEASES
Lease Balance Sheet Location	The Company elected to not include short-term leases with initial terms of twelve months or less, on the Condensed Consolidated Balance Sheets, (in thousands). ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ ​ ​ 2021 ​ 2020 Lease Right-of-Use Assets Classification ​ ​ ​ ​ ​ ​ Operating lease right-of-use assets Other assets ​ $ 11,450 ​ $ 11,341 ​ ​ ​ ​ ​ ​ ​ ​ Lease Liabilities Classification ​ ​ ​ ​ ​ ​ Operating lease liabilities Other liabilities ​ $ 14,608 ​ $ 13,970
Schedule Of Weighted Average Lease Term And Discount Rate	​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2021 ​ 2020 Weighted-Average Remaining Lease Term ​ ​ ​ ​ ​ Operating leases 5.42 years ​ 4.79 years ​ ​ ​ ​ ​ ​ Weighted-Average Discount Rate ​ ​ ​ ​ ​ Operating leases 2.69 % ​ 3.04 %
Lease Costs	The following table represents the Company’s net lease costs, (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2021 ​ 2020 ​ 2021 ​ 2020 Lease Costs ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating lease cost $ 781 ​ $ 786 ​ $ 2,264 ​ $ 2,401 Variable lease cost ​ 488 ​ ​ 557 ​ ​ 1,316 ​ ​ 1,516 Sublease income ​ — ​ ​ (33) ​ ​ — ​ ​ (232) Lease costs, net $ 1,269 ​ $ 1,310 ​ $ 3,580 ​ $ 3,685
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 September 30, 2021(in thousands): ​ ​ ​ ​ Year Ending December 31, ​ Operating Leases 2021 (1) ​ $ 850 2022 ​ 3,450 2023 ​ ​ 3,210 2024 ​ 3,064 2025 ​ 2,073 Thereafter ​ 2,871 Total future minimum lease payments ​ ​ 15,518 Less: imputed interest ​ ​ (910) Present value of net future minimum lease payments ​ $ 14,608 ________________________________________ (1)

DEPOSITS (Tables)

DEPOSITS (Tables)	9 Months Ended
	Sep. 30, 2021
Deposits [Abstract]
Schedule of interest bearing deposits	The following presents the Company’s interest-bearing deposits as of the dates noted (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, ​ 2021 2020 Money market deposit accounts ​ $ 905,196 ​ $ 847,430 Time deposits ​ 137,015 ​ 172,682 Negotiable order of withdrawal accounts ​ 137,833 ​ 113,052 Savings accounts ​ 5,620 ​ 5,289 Total interest-bearing deposits ​ $ 1,185,664 ​ $ 1,138,453 Aggregate time deposits of $250,000 or greater ​ $ 64,902 ​ $ 73,401
Schedule Of Time Deposit Maturities	The following presents the scheduled maturities of all time deposits for the next five years ending September 30 (in thousands): ​ ​ ​ ​ Year Ending December 31, ​ Time Deposits 2021 (1) ​ $ 39,977 2022 ​ 63,709 2023 ​ 24,819 2024 ​ 2,635 2025 ​ 1,541 Thereafter ​ 4,334 Total ​ $ 137,015 ________________________________________ (1)

BORROWINGS (Tables)

BORROWINGS (Tables)	9 Months Ended
	Sep. 30, 2021
BORROWINGS
Schedule of borrowings from FHLB Topeka	The Company had the following required maturities on FHLB borrowings as of the dates noted (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, ​ December 31, Maturity Date Rate % 2021 2020 April 22, 2022 ​ 0.37 ​ $ 5,000 ​ $ 5,000 May 5, 2023 ​ 0.76 ​ ​ 10,000 ​ ​ 10,000 Total ​ $ 15,000 ​ $ 15,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2021
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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ December 31, 2020 ​ Fixed Rate Variable Rate Fixed Rate Variable Rate Unused lines of credit ​ $ 73,975 ​ $ 418,045 ​ $ 78,506 ​ $ 360,883 Standby letters of credit ​ ​ 3,540 ​ ​ 20,940 ​ ​ 1,933 ​ ​ 17,524 Commitments to make loans to sell ​ ​ 113,746 ​ ​ — ​ ​ 370,512 ​ ​ — Commitments to make loans ​ ​ 40,804 ​ ​ 15,236 ​ ​ 24,225 ​ ​ 25,316

SHAREHOLDERS EQUITY (Tables)

SHAREHOLDERS EQUITY (Tables)	9 Months Ended
	Sep. 30, 2021
SHAREHOLDERS EQUITY
Schedule of summarizes activity for nonqualified stock options	The following summarizes activity for nonqualified stock options for the nine months ended September 30, 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ Number ​ Average ​ Remaining ​ Aggregate ​ ​ of ​ Exercise ​ Contractual ​ Intrinsic ​ Options Price Term Value Outstanding as of December 31, 2020 ​ 419,197 ​ $ 29.02 ​ ​ ​ ​ Granted ​ — ​ ​ — ​ ​ ​ ​ Exercised ​ (3,750) ​ ​ 21.00 ​ ​ ​ ​ Forfeited or expired ​ (36,050) ​ ​ 35.91 ​ ​ ​ ​ Outstanding as of September 30, 2021 ​ 379,397 ​ ​ 28.44 ​ 1.9 ​ (1) Options fully vested / exercisable as of September 30, 2021 ​ 375,827 ​ ​ 28.46 ​ 1.8 ​ (1) ______________________________________ (1)
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, 2020 ​ 285,052 ​ 152,430 ​ 14,862 Granted ​ 59,194 ​ 41,743 ​ — Vested ​ (66,453) ​ — ​ — Forfeited ​ (14,307) ​ (10,149) ​ (1,116) Outstanding as of September 30, 2021 ​ 263,486 ​ 184,024 ​ 13,746
Schedule of financial performance units activity	The following presents the Company’s existing Financial Performance Units as of September 30, 2021 (dollars in thousands, except share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 9,198 ​ $ 18 ​ 0.3 years ​ December 31, 2019 ​ December 31, 2021 May 1, 2019 through April 30, 2020 ​ 150% 80,255 ​ ​ 372 ​ 2.3 years ​ December 31, 2021 ​ December 31, 2023 May 1, 2020 through December 31, 2020, excluding November 18, 2020 ​ 150% 81,516 ​ ​ 474 ​ 3.3 years ​ December 31, 2022 ​ December 31, 2023 On November 18, 2020 ​ 150% 34,752 ​ ​ 346 ​ 3.1 years ​ December 31, 2022 ​ 50% November 18, 2023 & 2025 May 3, 2021 through August 11, 2021 ​ 150% 61,118 ​ ​ 970 ​ 4.3 years ​ December 31, 2023 ​ December 31, 2025 ______________________________________ (1) The following presents the Company’s Financial Performance Units activity for the nine months ended September 30 of the years noted (dollars in thousands, except share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Units Granted ​ Compensation Expense Recognized Grant Period ​ 2021 ​ 2020 ​ 2021 ​ 2020 Prior to May 1, 2019 ​ — ​ — ​ $ 23 ​ $ 49 May 1, 2019 through April 30, 2020 ​ — ​ 1,866 ​ ​ 154 ​ ​ 246 May 1, 2020 through December 31, 2020, excluding November 18, 2020 ​ — ​ 58,993 ​ ​ 153 ​ ​ 97 On November 18, 2020 ​ ​ ​ — ​ ​ 94 ​ ​ — May 3, 2021 through August 11, 2021 ​ 41,743 ​ — ​ ​ 140 ​ ​ —

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	9 Months Ended
	Sep. 30, 2021
EARNINGS PER COMMON SHARE
Schedule of basic and diluted earnings per share	The table below presents the calculation of basic and diluted earnings per common share for the periods indicated (dollars in thousands, except share and per share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ 2021 2020 2021 2020 Earnings per common share - Basic ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income available for common shareholders ​ $ 6,417 $ 9,630 ​ $ 18,693 $ 19,660 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average shares ​ 7,979,869 7,911,871 ​ 7,959,268 7,888,675 Earnings per common share - basic ​ $ 0.80 ​ $ 1.22 ​ $ 2.35 ​ $ 2.49 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Earnings per common share - Diluted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Numerator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net income available for common shareholders ​ $ 6,417 $ 9,630 ​ $ 18,693 $ 19,660 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Denominator: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic weighted average shares ​ ​ 7,979,869 ​ ​ 7,911,871 ​ ​ 7,959,268 ​ ​ 7,888,675 Diluted effect of common stock equivalents: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Stock options ​ ​ 35,428 ​ ​ — ​ ​ 25,400 ​ ​ — Time Vesting Units ​ ​ 144,479 ​ ​ 85,897 ​ ​ 126,231 ​ ​ 44,310 Financial Performance Units ​ ​ 73,135 ​ ​ 7,786 ​ ​ 64,542 ​ ​ 16,176 Market Performance Units ​ ​ 13,442 ​ ​ 13,453 ​ ​ 13,825 ​ ​ 13,347 Total diluted effect of common stock equivalents ​ ​ 266,484 ​ ​ 107,136 ​ ​ 229,998 ​ ​ 73,833 Diluted weighted average shares ​ 8,246,353 8,019,007 ​ 8,189,266 7,962,508 Earnings per common share - diluted ​ $ 0.78 ​ $ 1.20 ​ $ 2.28 ​ $ 2.47
Schedule of Antidilutive securities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ 2021 ​ 2020 ​ 2021 ​ 2020 Stock options ​ ​ 139,639 ​ ​ 419,197 ​ 186,462 ​ ​ 419,197 Time Vesting Units ​ ​ — ​ ​ 82,600 ​ 1,327 ​ ​ 87,304 Financial Performance Units ​ ​ 40,745 ​ ​ 116,051 ​ 30,216 ​ ​ 70,769 Restricted Stock Awards ​ ​ 10,527 ​ ​ 21,054 ​ 10,527 ​ ​ 41,517 Total potentially dilutive securities ​ ​ 190,911 ​ ​ 638,902 ​ 228,532 ​ ​ 618,787

RELATED-PARTY TRANSACTIONS (Tab

RELATED-PARTY TRANSACTIONS (Tables)	9 Months Ended
	Sep. 30, 2021
RELATED-PARTY TRANSACTIONS
Summary of related-party loan activity	The following presents a summary of related-party loan activity as of the dates noted (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 December 31, 2020 Balance, beginning of year ​ $ 14,321 ​ $ 5,675 Funded loans ​ 6,172 ​ 17,348 Payments collected ​ (7,381) ​ (8,702) Balance, end of period ​ $ 13,112 ​ $ 14,321

FAIR VALUE (Tables)

FAIR VALUE (Tables)	9 Months Ended
	Sep. 30, 2021
Schedule of fair value assets and liabilities measured on recurring basis	The following presents assets and liabilities measured on a recurring basis as of September 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ ​ ​ ​ Prices in ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Other ​ Significant ​ ​ ​ ​ ​ for Identical ​ Observable ​ Unobservable ​ ​ ​ ​ ​ Assets ​ Inputs ​ Inputs ​ Reported September 30, 2021 ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Balance Investment securities available-for-sale: ​ ​ ​ ​ U.S. Treasury debt ​ $ 249 ​ $ — ​ $ — ​ $ 249 Corporate bonds ​ ​ — ​ ​ 8,356 ​ ​ — ​ ​ 8,356 GNMA mortgage-backed securities - residential ​ — ​ 20,811 ​ — ​ 20,811 FNMA mortgage-backed securities - residential ​ ​ — ​ ​ 1,155 ​ ​ — ​ ​ 1,155 Corporate CMO and MBS ​ — ​ 1,662 ​ — ​ 1,662 Total securities available-for-sale ​ $ 249 ​ $ 31,984 ​ $ — ​ $ 32,233 Equity securities ​ $ 716 ​ $ — ​ $ — ​ $ 716 Guarantee asset ​ $ — ​ $ — ​ $ 231 ​ $ 231 IRLC, net ​ $ — ​ $ — ​ $ 2,185 ​ $ 2,185 Forward commitments and FSC ​ $ — ​ $ 498 ​ $ (17) ​ $ 481 Mortgage loans held for sale ​ $ — ​ $ 51,309 ​ $ — ​ $ 51,309 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, net ​ $ — ​ $ — ​ $ 9,841 ​ $ 9,841 Forward commitments and FSC ​ $ — ​ $ (2,534) ​ $ (89) ​ $ (2,623) Mortgage loans held for sale ​ $ — ​ $ 161,843 ​ $ — ​ $ 161,843
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): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, 2021 Guarantee Asset IRLC FSC Beginning balance ​ $ 196 ​ $ 2,809 ​ $ — Acquisitions ​ — ​ ​ 6,617 ​ ​ (17) Originations ​ — ​ ​ (7,705) ​ ​ — Gains (losses) in net income, net ​ ​ 35 ​ ​ 464 ​ ​ — Ending balance ​ $ 231 ​ $ 2,185 ​ $ (17) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, 2020 Guarantee Asset IRLC FSC Beginning balance ​ $ 222 ​ $ 7,566 ​ $ (84) Acquisitions ​ — ​ ​ 9,546 ​ ​ (89) Originations ​ — ​ ​ (6,466) ​ ​ — Gains (losses) in net income, net ​ ​ 23 ​ ​ 1,065 ​ ​ 84 Ending balance ​ $ 245 ​ $ 11,711 ​ $ (89) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2021 Guarantee Asset IRLC FSC Beginning balance ​ $ 232 ​ $ 9,841 ​ $ (89) Acquisitions ​ — ​ ​ 15,123 ​ ​ (190) Originations ​ 2 ​ ​ (20,702) ​ ​ — Gains (losses) in net income, net ​ ​ (3) ​ ​ (2,077) ​ ​ 262 Ending balance ​ $ 231 ​ $ 2,185 ​ $ (17) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine Months Ended September 30, 2020 Guarantee Asset IRLC FSC Beginning balance ​ $ — ​ $ 1,184 ​ $ — Acquisitions ​ — ​ ​ 26,264 ​ ​ (189) Originations ​ — ​ ​ (17,449) ​ ​ — Sales ​ 245 ​ ​ — ​ ​ — Gains (losses) in net income, net ​ ​ — ​ ​ 1,712 ​ ​ 100 Ending balance ​ $ 245 ​ $ 11,711 ​ $ (89)
Summary of assets measured at fair value on nonrecurring basis	The following presents assets measured on a nonrecurring basis as of September 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted ​ ​ ​ ​ ​ Prices in ​ Significant ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ Other ​ Significant ​ ​ ​ ​ ​ for Identical ​ Observable ​ Unobservable ​ ​ ​ ​ ​ Assets ​ Inputs ​ Inputs ​ Reported September 30, 2021 ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Balance Impaired loans (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and Industrial ​ $ — ​ $ — ​ $ 479 ​ $ 479 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Impaired loans (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and Industrial ​ $ — ​ $ — ​ $ 1,800 ​ $ 1,800 ______________________________________ (1)
Summary of assets and liabilities measured at fair value on a recurring or nonrecurring, the significant unobservable inputs	The following presents quantitative information about the significant unobservable inputs used in the fair value measurement of nonrecurring assets categorized within Level 3 of the fair value hierarchy as of September 30, 2021 and December 31, 2020 (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements as of September 30, 2021 ​ ​ ​ ​ ​ Valuation ​ Significant ​ Range ​ ​ Fair Value ​ Technique ​ Unobservable Input ​ (Weighted Average) Impaired loans (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Commercial and Industrial ​ $ 479 ​ ​ Sales comparison, Market approach - guideline transaction method ​ ​ Management discount for asset/property type ​ ​ 17% - 45% (39%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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)
Summary of carrying amounts and estimated fair values of financial instruments	The following presents carrying amounts and estimated fair values for financial instruments not carried at fair value as of September 30, 2021 and December 31, 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Fair Value Measurements Using: September 30, 2021 Amount Level 1 Level 2 Level 3 Assets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash and cash equivalents ​ $ 310,235 ​ $ 310,235 ​ $ — ​ $ — Loans, net ​ 1,590,086 ​ — ​ — ​ 1,577,103 Accrued interest receivable ​ 6,306 ​ — ​ 20 ​ 6,286 Liabilities: ​ ​ ​ ​ Deposits ​ ​ 1,782,299 ​ ​ — ​ ​ 1,783,610 ​ ​ — Borrowings: ​ ​ ​ ​ FHLB borrowings – fixed rate ​ 15,000 ​ — ​ 15,056 ​ — Federal Reserve borrowings – fixed rate ​ 43,564 ​ — ​ 43,564 ​ — Subordinated notes – fixed-to-floating rate ​ 39,010 ​ — ​ — ​ 40,313 Accrued interest payable ​ ​ 357 ​ ​ — ​ ​ 173 ​ ​ 184 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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 Accrued interest receivable ​ 6,618 ​ — ​ 90 ​ 6,528 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 ​ ​ — ​ ​ 124 ​ ​ 329
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 September 30, 2021 and December 31, 2020 (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quantitative Information about Level 3 Fair Value Measurements as of September 30, 2021 ​ ​ ​ ​ ​ Valuation ​ Significant ​ Range ​ ​ Fair Value ​ Technique ​ Unobservable Input ​ (Weighted Average) Guarantee asset ​ $ 231 ​ ​ Discounted cash flow ​ ​ Discount rate ​ ​ 3% (3%) 19% (19%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ IRLC, net ​ ​ 2,185 ​ ​ Best execution model ​ ​ Pull through ​ ​ 72% to 100% (90%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FSC ​ ​ (17) ​ ​ Internal pricing model ​ ​ Market Differential ​ ​ -84bps to -50bps (-75bps) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 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, net ​ ​ 9,841 ​ ​ Best execution model ​ ​ Pull through ​ ​ 55% to 100% (86%) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ FSC ​ ​ (89) ​ ​ Internal pricing model ​ ​ Market Differential ​ ​ -59bps to -17bps (-

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
	Sep. 30, 2021
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 as of or for the three and nine months ended September 30, 2021 and 2020 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of and for the three months ended September 30, 2021 ​ Wealth ​ Mortgage ​ Consolidated Income Statement ​ ​ ​ ​ ​ ​ ​ ​ ​ Total interest income $ 16,146 $ — $ 16,146 Total interest expense ​ ​ 1,300 ​ ​ — ​ ​ 1,300 Provision for loan losses ​ ​ 406 ​ ​ — ​ ​ 406 Net interest income, after provision for loan losses ​ ​ 14,440 ​ ​ — ​ ​ 14,440 Non-interest income ​ ​ 5,998 ​ ​ 4,497 ​ ​ 10,495 Total income before non-interest expense ​ ​ 20,438 ​ ​ 4,497 ​ ​ 24,935 Depreciation and amortization expense ​ ​ 272 ​ 13 ​ 285 All other non-interest expense ​ ​ 13,967 ​ ​ 2,217 ​ ​ 16,184 Income before income taxes ​ $ 6,199 ​ $ 2,267 ​ $ 8,466 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 24,191 $ — $ 24,191 Total assets ​ ​ 2,020,896 ​ 55,376 ​ 2,076,272 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of and for the three months ended September 30, 2020 ​ Wealth ​ Mortgage Consolidated Income Statement ​ ​ ​ ​ ​ ​ ​ ​ Total interest income $ 14,410 ​ $ — $ 14,410 Total interest expense ​ ​ 1,492 ​ ​ — ​ 1,492 Provision for loan losses ​ ​ 1,496 ​ ​ — ​ 1,496 Net interest income, after provision for loan losses ​ ​ 11,422 ​ ​ — ​ 11,422 Non-interest income ​ ​ 5,709 ​ ​ 12,323 ​ 18,032 Total income before non-interest expense ​ ​ 17,131 ​ ​ 12,323 ​ 29,454 Depreciation and amortization expense ​ ​ 260 ​ ​ 14 ​ 274 All other non-interest expense ​ ​ 14,291 ​ ​ 2,067 ​ 16,358 Income before income taxes ​ $ 2,580 ​ $ 10,242 $ 12,822 ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 24,191 ​ $ — $ 24,191 Assets held for sale ​ ​ 3,000 ​ ​ — ​ ​ 3,000 Total assets ​ ​ 1,867,748 ​ ​ 105,149 ​ 1,972,897 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of and for the nine months ended September 30, 2021 ​ Wealth ​ Mortgage ​ Consolidated Income Statement ​ ​ ​ ​ ​ ​ ​ ​ ​ Total interest income $ 46,193 $ — $ 46,193 Total interest expense ​ ​ 4,071 ​ ​ — ​ 4,071 Provision for loan losses ​ ​ 418 ​ ​ — ​ 418 Net interest income, after provision for loan losses ​ ​ 41,704 ​ ​ — ​ 41,704 Non-interest income ​ ​ 16,987 ​ ​ 13,621 ​ 30,608 Total income before non-interest expense ​ ​ 58,691 ​ ​ 13,621 ​ 72,312 Depreciation and amortization expense ​ ​ 792 ​ ​ 40 ​ 832 All other non-interest expense ​ ​ 38,800 ​ ​ 7,987 ​ 46,787 Income before income taxes ​ $ 19,099 ​ $ 5,594 $ 24,693 ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 24,191 ​ $ — $ 24,191 Total assets ​ ​ 2,020,896 ​ ​ 55,376 ​ 2,076,272 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of and for the nine months ended September 30, 2020 ​ Wealth ​ Mortgage Consolidated Income Statement ​ ​ ​ ​ ​ ​ ​ ​ Total interest income $ 38,392 ​ $ — $ 38,392 Total interest expense ​ ​ 5,747 ​ ​ — ​ 5,747 Provision for loan losses ​ ​ 3,987 ​ ​ — ​ 3,987 Net interest income, after provision for loan losses ​ ​ 28,658 ​ ​ — ​ 28,658 Non-interest income ​ ​ 16,202 ​ ​ 25,024 ​ 41,226 Total income before non-interest expense ​ ​ 44,860 ​ ​ 25,024 ​ 69,884 Depreciation and amortization expense ​ ​ 770 ​ ​ 56 ​ 826 All other non-interest expense ​ ​ 37,391 (1) ​ 5,706 ​ 43,097 Income before income taxes ​ $ 6,699 ​ $ 19,262 $ 25,961 ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ $ 24,191 ​ $ — $ 24,191 Assets held for sale ​ ​ 3,000 ​ ​ — ​ ​ 3,000 Total assets ​ ​ 1,867,748 ​ ​ 105,149 ​ 1,972,897 ______________________________________ (1)

REGULATORY CAPITAL MATTERS (Tab

REGULATORY CAPITAL MATTERS (Tables)	9 Months Ended
	Sep. 30, 2021
REGULATORY CAPITAL MATTERS
Schedule of actual and required capital ratios	The following presents the actual and required capital amounts and ratios as of September 30, 2021 and December 31, 2020 (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ To be Well Capitalized ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Under Prompt ​ ​ ​ ​ ​ ​ ​ ​ Required for Capital ​ ​ Corrective Action ​ ​ Actual ​ ​ Adequacy Purposes (1) ​ ​ Regulations September 30, 2021 Amount Ratio ​ Amount Ratio ​ Amount Ratio Tier 1 capital to risk-weighted assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ $ 156,136 11.02 % ​ $ 85,019 6.0 % ​ $ 113,359 ​ 8.0 % Consolidated ​ ​ 151,950 ​ 10.66 ​ ​ ​ N/A ​ N/A ​ ​ ​ N/A ​ N/A ​ CET1 to risk-weighted assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ ​ 156,136 11.02 ​ ​ ​ 63,764 4.5 ​ ​ ​ 92,104 6.5 ​ Consolidated ​ ​ 151,950 ​ 10.66 ​ ​ ​ N/A ​ N/A ​ ​ ​ N/A ​ N/A ​ Total capital to risk-weighted assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ ​ 169,435 11.96 ​ ​ 113,359 8.0 ​ ​ 141,699 10.0 ​ Consolidated ​ ​ 204,809 ​ 14.37 ​ ​ ​ N/A ​ N/A ​ ​ ​ N/A ​ N/A ​ Tier 1 capital to average assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Bank ​ ​ 156,136 8.11 ​ ​ 77,047 4.0 ​ ​ 96,308 5.0 ​ Consolidated ​ ​ 151,950 ​ 7.86 ​ ​ ​ 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, 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 ​ ______________________________________ (1) .

ORGANIZATION AND SUMMARY OF S_3

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Concentration of Credit Risk (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Jun. 30, 2021	Nov. 13, 2020
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Contingent consideration asset with an initial fair value							$ 3,100
Business Combination Period Of Quarterly Payments			3 years
Merger related expenses	$ 1,660	$ 1,288	$ 4,309	$ 3,542
Performance based incentive fees	$ 0		$ 0
Collateral concentration risk | Loan portfolio | Real estate
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Concentration risk (as a percent)			72.40%		66.90%
Teton Financial Services
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total assets						$ 420,700
Total Deposit						374,600
Total loans						$ 267,900
Merger related expenses			$ 400

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	Sep. 30, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 35,750	$ 31,602
Gross Unrealized Gains	980	688
Gross Unrealized Losses	(64)	(57)
Fair Value	36,666	32,233
U.S. Treasury debt
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	250	250
Gross Unrealized Gains	4
Gross Unrealized Losses		(1)
Fair Value	254	249
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	6,000	8,117
Gross Unrealized Gains	55	249
Gross Unrealized Losses	(11)	(10)
Fair Value	6,044	8,356
Government National Mortgage Association ("GNMA") mortgage-backed securities - residential
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	23,806	20,488
Gross Unrealized Gains	798	351
Gross Unrealized Losses		(28)
Fair Value	24,604	20,811
Federal National Mortgage Association ("FNMA") mortgage-backed securities - residential
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,616	1,102
Gross Unrealized Gains	61	53
Fair Value	1,677	1,155
Corporate collateralized mortgage obligations ("CMO") and MBS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4,078	1,645
Gross Unrealized Gains	62	35
Gross Unrealized Losses	(53)	(18)
Fair Value	4,087	1,662
Small Business Investment Company ("SBIC")
Debt Securities, Available-for-sale [Line Items]
Payments to Acquire Investments	500
Contractual Obligation		900
Other Assets [Member] | Small Business Investment Company ("SBIC")
Debt Securities, Available-for-sale [Line Items]
Balance with SBIC included in other assets	$ 2,100	$ 2,100

INVESTMENT SECURITIES - Amort_2

INVESTMENT SECURITIES - Amortized cost and estimated fair value of available-for-sale securities excluding SBIC (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021USD ($)security	Dec. 31, 2020USD ($)security
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 31,602	$ 35,750
Fair Value	32,233	36,666
Debt available for sale securities pledged as collateral	$ 2,300	$ 3,700
Threshold Percentage Of Shareholders Equity Amount Held As Securities By One Issuer	10.00%	10.00%
Unrealized loss	$ 57	$ 64
Number of securities in continuous unrealized loss position for more than twelve months | security	1
Available for sale securities, excluding SBIC
Debt Securities, Available-for-sale [Line Items]
Due between one year and five years amortized cost	$ 250
Due between five years and ten years amortized cost	8,117
Due between one year and five years fair value	249
Due between five years and ten years fair value	8,356
Securities, amortized cost	23,235
Securities, fair value	23,628
Amortized Cost	31,602
Fair Value	32,233
Unrealized loss	$ 100	$ 100
Number of securities in unrealized loss position | security	7	7

INVESTMENT SECURITIES - Securit

INVESTMENT SECURITIES - Securities with unrealized losses (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	$ 8,294	$ 4,369
Less than 12 months, Unrealized Losses	(39)	(51)
12 months or Longer, Fair Value	556	566
12 months or Longer, Unrealized Losses	(18)	(13)
Total Fair Value	8,850	4,935
Total Unrealized Losses	(57)	(64)
U.S. Treasury debt
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	249
Less than 12 months, Unrealized Losses	(1)
Total Fair Value	249
Total Unrealized Losses	(1)
Government National Mortgage Association ("GNMA") mortgage-backed securities - residential
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	7,555
Less than 12 months, Unrealized Losses	(28)
Total Fair Value	7,555
Total Unrealized Losses	(28)
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	490	3,489
Less than 12 months, Unrealized Losses	(10)	(11)
Total Fair Value	490	3,489
Total Unrealized Losses	(10)	(11)
Corporate collateralized mortgage obligations ("CMO") and MBS
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value		880
Less than 12 months, Unrealized Losses		(40)
12 months or Longer, Fair Value	556	566
12 months or Longer, Unrealized Losses	(18)	(13)
Total Fair Value	556	1,446
Total Unrealized Losses	$ (18)	$ (53)

LOANS AND THE ALLOWANCE FOR L_3

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Summary of loans (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021USD ($)loan	Dec. 31, 2020USD ($)loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	$ 1,603,383	$ 1,534,185
Deferred fees and unamortized premiums/(unaccreted discounts), net	(333)	(1,352)
Allowance for loan losses	(12,964)	(12,539)
Loans, net	1,590,086	1,520,294
Simmons Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	117,400	127,200
Cash, Securities and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	293,837	357,020
Construction and Development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	132,141	131,111
1-4 Family Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	502,439	455,038
Non-Owner Occupied CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	358,369	281,943
Owner Occupied CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	167,638	163,042
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	148,959	146,031
PPP Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	61,900	142,900
PPP Loans | Cash, Securities and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	$ 61,900	$ 142,900
Percent of Loans on Total Loan Segment	21.10%	40.00%
MSLP loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	$ 6,800	$ 6,600
COVID-19 | MSLP loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net	$ 6,800	$ 6,600
Percent of Loans on Total Loan Segment	4.60%	4.50%
Number of loans | loan	6	6

LOANS AND THE ALLOWANCE FOR L_4

LOANS AND THE ALLOWANCE FOR LOAN LOSSES -Loan Modifications (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
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	4.10%
COVID-19
Accounts, Notes, Loans and Financing Receivable [Line Items]
Delinquent over period	30 days
Payments Period	2 years
# of Loans Modified | loan	72
Outstanding Balance of Modified Loans | $	$ 135
Loans modified for temporary payment	180 days

LOANS AND THE ALLOWANCE FOR L_5

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Aging analysis of recorded investments by class (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	$ 6,099	$ 6,362
Total current	1,597,284	1,527,823
Total Recorded Investment	1,603,383	1,534,185
90 days past due and accruing interest	0	0
30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	1,210	2,785
60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	2,536
90 or More Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	2,353	3,577
Cash, Securities and Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	781	800
Total current	293,056	356,220
Total Recorded Investment	293,837	357,020
Cash, Securities and Other | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	727	752
Cash, Securities and Other | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	14
Cash, Securities and Other | 90 or More Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	40	48
Construction and Development
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	2,522
Total current	129,619	131,111
Total Recorded Investment	132,141	131,111
Construction and Development | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	2,522
1-4 Family Residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	566	1,283
Total current	501,873	453,755
Total Recorded Investment	502,439	455,038
1-4 Family Residential | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	483	1,283
1-4 Family Residential | 90 or More Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	83
Non-Owner Occupied CRE
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total current	358,369	281,943
Total Recorded Investment	358,369	281,943
Owner Occupied CRE
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due		479
Total current	167,638	162,563
Total Recorded Investment	167,638	163,042
Owner Occupied CRE | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due		479
Commercial and Industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	2,230	3,800
Total current	146,729	142,231
Total Recorded Investment	148,959	146,031
Commercial and Industrial | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due		271
Commercial and Industrial | 90 or More Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	$ 2,230	$ 3,529

LOANS AND THE ALLOWANCE FOR L_6

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Recorded investment in non-accrual loans by class (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans	$ 4,358	$ 4,058
Recorded investments	2,200	3,600
Cash, Securities and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans	41	50
1-4 Family Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans	83
Owner Occupied CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans	1,250	479
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans	$ 2,984	$ 3,529

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)	12 Months Ended
	Dec. 31, 2020USD ($)loan	Sep. 30, 2021USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment	$ 4,058,000	$ 4,358,000
Allowance for loan associated with TDR	(1,621,000)	(1,783,000)
Net recorded investment	1,958,000	488,000
Additional funds to loans classified as TDRs	$ 0	0
Number of contracts modified | loan	1
Cash, Securities and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment	$ 50,000	41,000
Allowance for loan associated with TDR	(2,000)	(32,000)
1-4 Family Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment		83,000
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment	3,529,000	2,984,000
Allowance for loan associated with TDR	(1,619,000)	(1,751,000)
Loans on nonaccrual status
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans classified as TDRs		2,239,000
Total Recorded Investment	3,577,000
Loans on nonaccrual status | Cash, Securities and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment	48,000	9,000
Loans on nonaccrual status | Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment	$ 3,529,000	$ 2,230,000

LOANS AND THE ALLOWANCE FOR L_8

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Recorded investment in impaired loans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment With Allowance	$ 2,262		$ 2,262		$ 3,421
Total Recorded Investment With No Allowance	2,096		2,096		637
Total Recorded Investment	4,358		4,358		4,058
Unpaid Contractual Principal Balance with a valuation Allowance	2,262		2,262		3,421
Unpaid Contractual Principal Balance with no related valuation Allowance	2,096		2,096		637
Unpaid Contractual Principal Balance	4,358		4,358		4,058
Allowance for Loan Losses	1,783		1,783		1,621
Average Recorded Investment with Allowance	2,653	$ 3,428	3,037	$ 3,463
Average Recorded Investment with No Allowance	1,086	7,241	613	7,551
Average Recorded Investment	3,739	10,669	3,650	11,014
Interest Income Recognized with Allowance			21
Interest Income Recognized with No Allowance	220	85	271	250
Interest Income Recognized	220	85	292	250
Cash, Securities and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment With Allowance	32		32		2
Total Recorded Investment With No Allowance	9		9		48
Total Recorded Investment	41		41		50
Unpaid Contractual Principal Balance with a valuation Allowance	32		32		2
Unpaid Contractual Principal Balance with no related valuation Allowance	9		9		48
Unpaid Contractual Principal Balance	41		41		50
Allowance for Loan Losses	32		32		2
Average Recorded Investment with Allowance	18	1	10	1
Average Recorded Investment with No Allowance	10	779	22	1,463
Average Recorded Investment	28	780	32	1,464
1-4 Family Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment With No Allowance	83		83
Total Recorded Investment	83		83
Unpaid Contractual Principal Balance with no related valuation Allowance	83		83
Unpaid Contractual Principal Balance	83		83
Average Recorded Investment with No Allowance	41		21
Average Recorded Investment	41		21
Owner Occupied CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment With No Allowance	1,250		1,250		479
Total Recorded Investment	1,250		1,250		479
Unpaid Contractual Principal Balance with no related valuation Allowance	1,250		1,250		479
Unpaid Contractual Principal Balance	1,250		1,250		479
Average Recorded Investment with No Allowance	625		313
Average Recorded Investment	625		313
Interest Income Recognized with No Allowance			51
Interest Income Recognized			51
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment With Allowance	2,230		2,230		3,419
Total Recorded Investment With No Allowance	754		754		110
Total Recorded Investment	2,984		2,984		3,529
Unpaid Contractual Principal Balance with a valuation Allowance	2,230		2,230		3,419
Unpaid Contractual Principal Balance with no related valuation Allowance	754		754		110
Unpaid Contractual Principal Balance	2,984		2,984		3,529
Allowance for Loan Losses	1,751		1,751		$ 1,619
Average Recorded Investment with Allowance	2,635	3,427	3,027	3,462
Average Recorded Investment with No Allowance	410	6,462	257	6,088
Average Recorded Investment	3,045	9,889	3,284	9,550
Interest Income Recognized with Allowance			21
Interest Income Recognized with No Allowance	220	85	220	250
Interest Income Recognized	$ 220	$ 85	$ 241	$ 250

LOANS AND THE ALLOWANCE FOR L_9

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Allowance for loan losses by portfolio (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	$ 12,552	$ 10,354	$ 12,539	$ 7,875
(Recovery of) provision for loan losses	406	1,496	418	3,987
Charge-offs		(6)		(30)
Recoveries	6	1	7	13
Ending balance	12,964	11,845	12,964	11,845
Individually evaluated	1,783		1,783		$ 1,621
Collectively evaluated	11,181		11,181		10,918
Loans individually evaluated	4,358		4,358		4,058
Loans collectively evaluated	1,599,025		1,599,025		1,530,127
Total Recorded Investment	1,603,383		1,603,383		1,534,185
Cash, Securities and Other
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	2,039	2,425	2,579	1,058
(Recovery of) provision for loan losses	85	192	(456)	1,571
Charge-offs		(6)		(30)
Recoveries	6	1	7	13
Ending balance	2,130	2,612	2,130	2,612
Individually evaluated	32		32		2
Collectively evaluated	2,098		2,098		2,577
Loans individually evaluated	41		41		50
Loans collectively evaluated	293,796		293,796		356,970
Total Recorded Investment	293,837		293,837		357,020
Construction and Development
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	871	484	932	200
(Recovery of) provision for loan losses	48	249	(13)	533
Ending balance	919	733	919	733
Collectively evaluated	919		919		932
Loans collectively evaluated	132,141		132,141		131,111
Total Recorded Investment	132,141		132,141		131,111
1-4 Family Residential
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	3,399	2,708	3,233	2,850
(Recovery of) provision for loan losses	97	392	263	250
Ending balance	3,496	3,100	3,496	3,100
Collectively evaluated	3,496		3,496		3,233
Loans individually evaluated	83		83
Loans collectively evaluated	502,356		502,356		455,038
Total Recorded Investment	502,439		502,439		455,038
Non-Owner Occupied CRE
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	2,223	1,483	2,004	1,176
(Recovery of) provision for loan losses	271	207	490	514
Ending balance	2,494	1,690	2,494	1,690
Collectively evaluated	2,494		2,494		2,004
Loans collectively evaluated	358,369		358,369		281,943
Total Recorded Investment	358,369		358,369		281,943
Owner Occupied CRE
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	1,225	760	1,159	911
(Recovery of) provision for loan losses	(67)	309	(1)	158
Ending balance	1,158	1,069	1,158	1,069
Collectively evaluated	1,158		1,158		1,159
Loans individually evaluated	1,250		1,250		479
Loans collectively evaluated	166,388		166,388		162,563
Total Recorded Investment	167,638		167,638		163,042
Commercial and Industrial
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	2,795	2,494	2,632	1,680
(Recovery of) provision for loan losses	(28)	147	135	961
Ending balance	2,767	$ 2,641	2,767	$ 2,641
Individually evaluated	1,751		1,751		1,619
Collectively evaluated	1,016		1,016		1,013
Loans individually evaluated	2,984		2,984		3,529
Loans collectively evaluated	145,975		145,975		142,502
Total Recorded Investment	$ 148,959		$ 148,959		$ 146,031

LOANS AND THE ALLOWANCE FOR _10

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Recorded investment in company's loans (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	$ 1,603,383,000	$ 1,534,185,000
Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	1,587,982,000	1,517,908,000
Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	8,463,000	6,316,000
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	6,938,000	9,961,000
Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	0	0
Cash, Securities and Other
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	293,837,000	357,020,000
Cash, Securities and Other | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	293,796,000	356,970,000
Cash, Securities and Other | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	41,000	50,000
Construction and Development
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	132,141,000	131,111,000
Construction and Development | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	129,618,000	131,111,000
Construction and Development | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	2,523,000
1-4 Family Residential
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	502,439,000	455,038,000
1-4 Family Residential | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	502,356,000	451,918,000
1-4 Family Residential | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	83,000	3,120,000
Non-Owner Occupied CRE
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	358,369,000	281,943,000
Non-Owner Occupied CRE | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	352,429,000	275,627,000
Non-Owner Occupied CRE | Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	5,940,000	6,316,000
Owner Occupied CRE
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	167,638,000	163,042,000
Owner Occupied CRE | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	165,690,000	161,850,000
Owner Occupied CRE | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	1,948,000	1,192,000
Commercial and Industrial
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	148,959,000	146,031,000
Commercial and Industrial | Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	144,093,000	140,432,000
Commercial and Industrial | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	$ 4,866,000	$ 5,599,000

GOODWILL (Details)

GOODWILL (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 19,686
Acquisition activity	4,505
Ending balance	24,191
Change in goodwill	$ 4,500

LEASES - Leases Balance Sheets

LEASES - Leases Balance Sheets Location (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
LEASES
Operating lease right-of-use asset	$ 11,450	$ 11,341
Operating lease liability	$ 14,608	$ 13,970
Weighted-Average Remaining Lease Term - Operating leases	5 years 5 months 1 day	4 years 9 months 14 days
Weighted-Average Discount Rate - Operating leases	2.69%	3.04%

LEASES - Leases Costs (Details)

LEASES - Leases Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
LEASES
Operating lease cost	$ 781	$ 786	$ 2,264	$ 2,401
Variable lease cost	488	557	1,316	1,516
Sublease income		(33)		(232)
Lease costs, net	$ 1,269	$ 1,310	$ 3,580	$ 3,685

LEASES - Lease Maturity (Detail

LEASES - Lease Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
LEASES
2021	$ 850
2022	3,450
2023	3,210
2024	3,064
2025	2,073
Thereafter	2,871
Total future minimum lease payments	15,518
Less: Imputed interest	(910)
Present value of net future minimum lease payments	$ 14,608	$ 13,970

DEPOSITS (Details)

DEPOSITS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Sep. 30, 2021
Money market deposit accounts	$ 847,430	$ 905,196
Time deposits	172,682	137,015
Negotiable order of withdrawal accounts	113,052	137,833
Savings accounts	5,289	5,620
Total interest bearing deposits	1,138,453	1,185,664
Aggregate time deposits of $250,000 or greater	73,401	64,902
Overdrafts balances classified As loans	100	$ 100
Simmons Bank
Deposits acquired via acquisitions	$ 63,100

DEPOSITS - Time Deposits (Detai

DEPOSITS - Time Deposits (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Scheduled maturities of time deposits
2021	$ 39,977
2022	63,709
2023	24,819
2024	2,635
2025	1,541
Thereafter	4,334
Total	$ 137,015	$ 172,682

BORROWINGS (Details)

BORROWINGS (Details)	Aug. 31, 2021USD ($)	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
BORROWINGS
Borrowings from FHLB		$ 15,000,000	$ 15,000,000
Number of unsecured federal funds lines of credit		3	3
Total loans held for investment		$ 1,603,383,000	$ 1,534,185,000
Federal Funds Lines of Credit One
BORROWINGS
Maximum borrowing capacity		10,000,000	10,000,000
Amount outstanding		0	0
Federal Funds Lines of Credit Two
BORROWINGS
Maximum borrowing capacity		19,000,000	19,000,000
Federal Funds Line of Credit Three
BORROWINGS
Maximum borrowing capacity		25,000,000	25,000,000
Subordinated Notes
BORROWINGS
Face amount	$ 15,000,000
interest rate (as a percent)	3.25%
Basis spread (as a percent)	2.58%
Issuance costs	$ 300,000
Net balance		14,700,000
Credit Note
BORROWINGS
Amount outstanding		0	0
Face amount		$ 5,000,000	5,000,000
interest rate (as a percent)		2.50%
PPP Loans
BORROWINGS
Total loans held for investment		$ 43,600,000	134,600,000
PPPLF
BORROWINGS
Interest bearing rate		0.35%
PPPLF | Minimum
BORROWINGS
Debt term		2 years
PPPLF | Maximum
BORROWINGS
Debt term		5 years
FHLB Topeka
BORROWINGS
Amount of collateral pledged		$ 767,800,000	668,600,000
Available balance		$ 504,700,000
April 22, 2022
BORROWINGS
Interest rate		0.37%
Borrowings from FHLB		$ 5,000,000	5,000,000
May 5, 2023
BORROWINGS
Interest rate		0.76%
Borrowings from FHLB		$ 10,000,000	$ 10,000,000

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Unused lines of credit-Fixed
COMMITMENTS AND CONTINGENCIES
Other commitment	$ 73,975	$ 78,506
Standby letters of credit-Fixed
COMMITMENTS AND CONTINGENCIES
Other commitment	3,540	1,933
Commitments to make loans to sell-Fixed
COMMITMENTS AND CONTINGENCIES
Other commitment	113,746	370,512
Commitments to make loans-Fixed
COMMITMENTS AND CONTINGENCIES
Other commitment	40,804	24,225
Unused lines of credit-Variable
COMMITMENTS AND CONTINGENCIES
Other commitment	418,045	360,883
Standby letters of credit-Variable
COMMITMENTS AND CONTINGENCIES
Other commitment	20,940	17,524
Commitments to make loans-Variable
COMMITMENTS AND CONTINGENCIES
Other commitment	$ 15,236	$ 25,316

SHAREHOLDERS EQUITY - Common St

SHAREHOLDERS EQUITY - Common Stock (Details) - $ / shares	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Jun. 14, 2020	Dec. 31, 2020	Nov. 03, 2020	Jun. 14, 2019
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
Issuance of common stock (in shares)		0	0
Common Stock | 2019 Repurchase Plan
Class of Stock [Line Items]
Authorized share repurchase							300,000
Number of shares repurchased			22,679
Shares repurchased average price per share			$ 16.50
Common Stock | 2020 Repurchase Plan
Class of Stock [Line Items]
Common stock par value						$ 0
Authorized share repurchase						400,000
Number of shares repurchased	0	0

SHAREHOLDERS EQUITY - Stock bas

SHAREHOLDERS EQUITY - Stock based compensation - Restricted Stock Awards (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended			9 Months Ended		12 Months Ended
	Jun. 30, 2021	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2017
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
Weighted-average grant date fair value (in dollars per share)				$ 28.50
Recognized compensation expense	$ 0.1		$ 0.1	$ 0.2	$ 0.3
Number of stock awards vested				10,526	10,527
Unrecognized compensation expense				$ 0.3
Unrecognized compensation expense recognition period (in years)				1 year
Employee service period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued						52,632
Value of shares issued						$ 1.5
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						$ 1.5
Recognized compensation expense					$ 0.1
Shares non-vested		14,114			14,114
Performance based Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock awards vested					30,088
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized compensation expense		$ 0.1			$ 0.2
Unrecognized compensation expense recognition period (in years)				1 year

SHAREHOLDERS EQUITY - Stock b_2

SHAREHOLDERS EQUITY - Stock based compensation - Stock Options (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		0	0
Stock-based compensation expense	$ 0.1		$ 0.2
Unrecognized compensation expense recognition period (in years)		1 year
2016 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for issuance		398,934

SHAREHOLDERS EQUITY - Stock b_3

SHAREHOLDERS EQUITY - Stock based compensation - Stock Options Activity (Details) - Stock options	9 Months Ended
	Sep. 30, 2021$ / sharesshares	Sep. 30, 2020shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of year (in shares) | shares	419,197
Granted (in shares) | shares	0	0
Exercised (in shares) | shares	(3,750)
Forfeited or expired (in shares) | shares	(36,050)
Outstanding at end of period (in shares) | shares	379,397
Options fully vested / exercisable at end of period (in shares) | shares	375,827
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options, Outstanding, Weighted Average Exercise Price, Beginning Balance	$ 29.02
Exercised (in dollars per share)	21
Forfeited or expired (in dollars per share)	35.91
Options, Outstanding, Weighted Average Exercise Price, Ending Balance	28.44
Options fully vested / exercisable	$ 28.46
Weighted Average Remaining Contractual Term
Outstanding at end of year	1 year 10 months 24 days
Options fully vested / exercisable	1 year 9 months 18 days
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	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Stock issued (in shares)	4,292		47,351	34,260
Stock surrendered (in shares)	1,733		19,102	19,852
Stock surrendered to cover employee withholding taxes			$ 0.5	$ 0.3
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			285,052
Granted (in shares)			59,194
Vested (in shares)			(66,453)
Forfeited (in shares)			(14,307)
Outstanding at end of year	263,486		263,486
Stock-based compensation expense	$ 0.4	$ 0.4	$ 1.2	$ 1
Unrecognized compensation expense	$ 3.9		$ 3.9
Unrecognized compensation expense recognition period (in years)			1 year 9 months 18 days
Time Vesting Units | Third and fifth anniversaries
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Service period (in years)			5 years
Time Vesting Units | Anniversary of grant date
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Vesting Percentage			20.00%
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			152,430
Granted (in shares)			41,743
Forfeited (in shares)			(10,149)
Outstanding at end of year	184,024		184,024
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
Forfeited (in shares)			(1,116)
Outstanding at end of year	13,746		13,746
Unrecognized compensation expense	$ 0.4		$ 0.4
Unrecognized compensation expense recognition period (in years)			1 year

SHAREHOLDERS EQUITY - Stock b_5

SHAREHOLDERS EQUITY - Stock based compensation - Financial Performance Units (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Financial Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	41,743
Financial Performance Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Financial performance threshold percentage	150.00%
Financial Performance Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Financial performance threshold percentage	0.00%
Financial Performance Units Granted Prior to May 1, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares can be issued	9,198
Unrecognized compensation expense	$ 18
Unrecognized compensation expense recognition period (in years)	3 months 18 days
Stock-based compensation expense	$ 23	$ 49
Financial Performance Units Granted Prior to May 1, 2019 | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target threshold of awards	100.00%
Financial Performance Units Granted Prior to May 1, 2019 | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target threshold of awards	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]
Percent of awards accruing at maximum threshold	150.00%
Maximum number of shares can be issued	80,255
Unrecognized compensation expense	$ 372
Unrecognized compensation expense recognition period (in years)	2 years 3 months 18 days
Granted (in shares)		1,866
Stock-based compensation expense	$ 154	$ 246
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]
Percent of awards accruing at maximum threshold	150.00%
Remainder threshold awards	50.00%
Maximum number of shares can be issued	81,516
Unrecognized compensation expense	$ 474
Unrecognized compensation expense recognition period (in years)	3 years 3 months 18 days
Granted (in shares)		58,993
Stock-based compensation expense	$ 153	$ 97
Financial Performance Units Granted on November 18, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of awards accruing at maximum threshold	150.00%
Maximum number of shares can be issued	34,752
Unrecognized compensation expense	$ 346
Unrecognized compensation expense recognition period (in years)	3 years 1 month 6 days
Stock-based compensation expense	$ 94
Financial Performance Units Granted From May 3 2021 Through August 11,2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of awards accruing at maximum threshold	150.00%
Maximum number of shares can be issued	61,118
Unrecognized compensation expense	$ 970
Unrecognized compensation expense recognition period (in years)	4 years 3 months 18 days
Granted (in shares)	41,743
Stock-based compensation expense	$ 140

SHAREHOLDERS EQUITY - Stock b_6

SHAREHOLDERS EQUITY - Stock based compensation - Market Performance Units (Details) - Market Performance Units $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
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

EARNINGS PER COMMON SHARE (Deta

EARNINGS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator:
Net income available for common shareholders	$ 6,417	$ 9,630	$ 18,693	$ 19,660
Denominator:
Basic weighted average shares	7,979,869	7,911,871	7,959,268	7,888,675
Earnings per common share - basic	$ 0.80	$ 1.22	$ 2.35	$ 2.49
Numerator:
Net income	$ 6,417	$ 9,630	$ 18,693	$ 19,660
Denominator:
Basic weighted average shares	7,979,869	7,911,871	7,959,268	7,888,675
Diluted effect of common stock equivalents:
Total diluted effect of common stock equivalents	266,484	107,136	229,998	73,833
Diluted weighted average shares	8,246,353	8,019,007	8,189,266	7,962,508
Earnings per common share - diluted	$ 0.78	$ 1.20	$ 2.28	$ 2.47
Stock options
Diluted effect of common stock equivalents:
Diluted effect of common stock equivalents	35,428		25,400
Time Vesting Units
Diluted effect of common stock equivalents:
Diluted effect of common stock equivalents	144,479	85,897	126,231	44,310
Financial Performance Units
Diluted effect of common stock equivalents:
Diluted effect of common stock equivalents	73,135	7,786	64,542	16,176
Market Performance Units
Diluted effect of common stock equivalents:
Diluted effect of common stock equivalents	13,442	13,453	13,825	13,347

EARNINGS PER COMMON SHARE - Ant

EARNINGS PER COMMON SHARE - Anti-dilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
EARNINGS PER COMMON SHARE
Total potentially dilutive securities	190,911	638,902	228,532	618,787
Stock options
EARNINGS PER COMMON SHARE
Total potentially dilutive securities	139,639	419,197	186,462	419,197
Time Vesting Units
EARNINGS PER COMMON SHARE
Total potentially dilutive securities		82,600	1,327	87,304
Financial Performance Units
EARNINGS PER COMMON SHARE
Total potentially dilutive securities	40,745	116,051	30,216	70,769
Restricted Stock Awards
EARNINGS PER COMMON SHARE
Total potentially dilutive securities	10,527	21,054	10,527	41,517

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
INCOME TAXES
Income tax provision	$ 2,049	$ 3,192	$ 6,000	$ 6,301
Effective income tax rate	24.20%	24.90%	24.30%	24.30%

RELATED-PARTY TRANSACTIONS (Det

RELATED-PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Summary of related party loan activity
Balance, beginning of year	$ 14,321	$ 5,675	$ 5,675
Funded loans	6,172		17,348
Payments collected	(7,381)		(8,702)
Balance, end of year	13,112		14,321
Deposits from related parties	39,900		$ 26,200
Board Member
Summary of related party loan activity
Rent expense	$ 200	$ 100

FAIR VALUE - Summary of assets

FAIR VALUE - Summary of assets measured at fair value on recurring basis (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	$ 32,233	$ 36,666
Mortgage loans held for sale	51,309	161,843
U.S. Treasury debt
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	249	254
Corporate bonds
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	8,356	6,044
Recurring
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	32,233	36,666
Equity securities	716	730
Guarantee asset	231	232
Mortgage loans held for sale	51,309	161,843
Recurring | U.S. Treasury debt
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	249	254
Recurring | Corporate bonds
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	8,356	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	1,662	4,087
Recurring | IRLC,net
Summary of assets measured on a recurring and nonrecurring basis
Derivative asset, Fair value	2,185	9,841
Recurring | Forward Commitment
Summary of assets measured on a recurring and nonrecurring basis
Derivative asset, Fair value	481	(2,623)
Recurring | GNMA | mortgage-backed securities - residential
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	20,811	24,604
Recurring | FNMA | mortgage-backed securities - residential
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	1,155	1,677
Level 1 | Recurring
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	249	254
Equity securities	716	730
Level 1 | Recurring | U.S. Treasury debt
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	249	254
Level 2 | Recurring
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	31,984	36,412
Mortgage loans held for sale	51,309	161,843
Level 2 | Recurring | Corporate bonds
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	8,356	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	1,662	4,087
Level 2 | Recurring | Forward Commitment
Summary of assets measured on a recurring and nonrecurring basis
Derivative asset, Fair value	498	(2,534)
Level 2 | Recurring | GNMA | mortgage-backed securities - residential
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	20,811	24,604
Level 2 | Recurring | FNMA | mortgage-backed securities - residential
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	1,155	1,677
Level 3 | Recurring
Summary of assets measured on a recurring and nonrecurring basis
Guarantee asset	231	232
Level 3 | Recurring | IRLC,net
Summary of assets measured on a recurring and nonrecurring basis
Derivative asset, Fair value	2,185	9,841
Level 3 | Recurring | Forward Commitment
Summary of assets measured on a recurring and nonrecurring basis
Derivative asset, Fair value	$ (17)	$ (89)

FAIR VALUE - Summary of asset_2

FAIR VALUE - Summary of assets measured at fair value on recurring basis (Details) - Level 3 - Recurring - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Guarantee Asset
Guarantee asset
Guarantee asset, Beginning balance	$ 196	$ 222	$ 232
Guarantee asset, Originations			2
Guarantee asset, Sales				$ 245
Guarantee asset, Gains (losses) in net income, net	35	23	(3)
Guarantee asset, Ending balance	231	245	231	245
IRLC,net
Fair value on a recurring basis
Beginning balance	2,809	7,566	9,841	1,184
Acquisitions	6,617	9,546	15,123	26,264
Originations	(7,705)	(6,466)	(20,702)	(17,449)
Gains (losses) in net income, net	464	1,065	(2,077)	1,712
Ending balance	2,185	11,711	2,185	11,711
Forward Commitment
Forward Commitments
Forward Commitments, Beginning balance		(84)	(89)
Forward Commitments, Acquisitions	(17)	(89)	(190)	(189)
Forward Commitments, Gains (losses) in net income, net		84	262	100
Forward Commitments, Ending balance	$ (17)	$ (89)	$ (17)	$ (89)

FAIR VALUE - Summary of asset_3

FAIR VALUE - Summary of assets and liabilities measured at fair value on a recurring or nonrecurring, the significant unobservable inputs (Details) $ in Thousands	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Commercial properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Estimate		$ 194
Commercial and Industrial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Estimate	$ 479	$ 1,800
Discount | Commercial properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount		5.00%
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	17.00%	17.00%
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	45.00%	35.00%
Weighted Average | Discount | Commercial properties
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount		5.00%
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	39.00%	26.00%
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantee asset, Fair Value	$ 231	$ 232
Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantee asset, Fair Value	231	232
Recurring | Level 3 | Discounted cash flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantee asset, Fair Value	$ 231	$ 232
Recurring | Discount rate | Level 3 | Discounted cash flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantee asset	3	3
Recurring | Prepayment rate | Level 3 | Discounted cash flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantee asset	19	25
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	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	19	25
Recurring | IRLC,net | Pull through | Level 3 | Best execution model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, Fair Value	$ 2,185	$ 9,841
Recurring | IRLC,net | Minimum | Pull through | Level 3 | Best execution model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	72	55
Recurring | IRLC,net | Maximum | Pull through | Level 3 | Best execution model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	100	100
Recurring | IRLC,net | Weighted Average | Pull through | Level 3 | Best execution model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	90	86
Recurring | Forward Commitment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, Fair Value	$ 481	$ (2,623)
Recurring | Forward Commitment | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, Fair Value	(17)	(89)
Recurring | Forward Commitment | Market Differential | Level 3 | Internal Pricing Model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, Fair Value	$ (17)	$ (89)
Recurring | Forward Commitment | Minimum | Market Differential | Level 3 | Internal Pricing Model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0.84	0.59
Recurring | Forward Commitment | Maximum | Market Differential | Level 3 | Internal Pricing Model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0.50	0.17
Recurring | Forward Commitment | Weighted Average | Market Differential | Level 3 | Internal Pricing Model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0.75	0.31

FAIR VALUE - Summary of asset_4

FAIR VALUE - Summary of assets measured at level 3 fair value on recurring basis (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Summary of assets measured on a recurring and nonrecurring basis
Other real estate owned valuation allowance		$ 1,900
Impaired Financing Receivable, with Related Allowance, Recorded Investment	$ 2,262	3,421
Loans and Leases Receivable, Allowance	12,964	12,539
Other real estate owned, gross		2,100
Other real estate owned		194
Net recorded investment	488	1,958
Level 3
Summary of assets measured on a recurring and nonrecurring basis
Impaired Financing Receivable, with Related Allowance, Recorded Investment	2,300	3,400
Loans and Leases Receivable, Allowance	1,800	1,600
Provision for loan losses	1,800	1,600
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	479	1,800
Commercial and Industrial | Level 3 | Nonrecurring
Summary of assets measured on a recurring and nonrecurring basis
Net recorded investment	$ 479	$ 1,800

FAIR VALUE - Summary of carryin

FAIR VALUE - Summary of carrying amounts and estimated fair values for financial instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 310,235	$ 155,989	$ 250,358	$ 78,638
Loans, net	1,590,086	1,520,294
Accrued interest receivable	6,306	6,618
Liabilities
Deposits	1,782,299	1,619,910
FHLB Topeka Borrowings - fixed rate	58,564	149,563
Subordinated notes	39,010	24,291
Accrued interest payable	357	453
Carrying Amount
Assets
Cash and cash equivalents	310,235	155,989
Loans, net	1,590,086	1,520,294
Accrued interest receivable	6,306	6,618
Liabilities
Deposits	1,782,299	1,619,910
FHLB Topeka Borrowings - fixed rate	15,000	15,000
Federal Reserve Borrowings - fixed rate	43,564	134,563
Accrued interest payable	357	453
Subordinated notes - fixed-to-floating rate | Carrying Amount
Liabilities
Subordinated notes	39,010	24,291
Level 1 | Estimated Fair Value
Assets
Cash and cash equivalents	310,235	155,989
Level 2 | Estimated Fair Value
Assets
Accrued interest receivable	20	90
Liabilities
Deposits	1,783,610	1,621,648
FHLB Topeka Borrowings - fixed rate	15,056	15,099
Federal Reserve Borrowings - fixed rate	43,564	134,563
Accrued interest payable	173	124
Level 3 | Estimated Fair Value
Assets
Loans, net	1,577,103	1,512,699
Accrued interest receivable	6,286	6,528
Liabilities
Accrued interest payable	184	329
Level 3 | Subordinated notes - fixed-to-floating rate | Estimated Fair Value
Liabilities
Subordinated notes	$ 40,313	$ 25,750

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Income Statement
Total interest income	$ 16,146	$ 14,410	$ 46,193	$ 38,392
Total interest expense	1,300	1,492	4,071	5,747
Provision for loan losses	406	1,496	418	3,987
Net interest income, after provision for loan losses	14,440	11,422	41,704	28,658
Non-interest income	10,495	18,032	30,608	41,226
Total income	24,935	29,454	72,312	69,884
Depreciation and amortization expense	285	274	832	826
All other non-interest expense	16,184	16,358	46,787	43,097
Income before income taxes	8,466	12,822	24,693	25,961
Segment reporting
Goodwill	24,191	24,191	24,191	24,191	$ 24,191	$ 19,686
Assets held for sale		3,000		3,000
Total assets	2,076,272	1,972,897	2,076,272	1,972,897	$ 1,973,655
Loss on intangibles held for sale				(553)
SEC Penalty				200
Wealth Management
Income Statement
Total interest income	16,146	14,410	46,193	38,392
Total interest expense	1,300	1,492	4,071	5,747
Provision for loan losses	406	1,496	418	3,987
Net interest income, after provision for loan losses	14,440	11,422	41,704	28,658
Non-interest income	5,998	5,709	16,987	16,202
Total income	20,438	17,131	58,691	44,860
Depreciation and amortization expense	272	260	792	770
All other non-interest expense	13,967	14,291	38,800	37,391
Income before income taxes	6,199	2,580	19,099	6,699
Segment reporting
Goodwill	24,191	24,191	24,191	24,191
Assets held for sale		3,000		3,000
Total assets	2,020,896	1,867,748	2,020,896	1,867,748
Loss on intangibles held for sale				600
Mortgage
Income Statement
Non-interest income	4,497	12,323	13,621	25,024
Total income	4,497	12,323	13,621	25,024
Depreciation and amortization expense	13	14	40	56
All other non-interest expense	2,217	2,067	7,987	5,706
Income before income taxes	2,267	10,242	5,594	19,262
Segment reporting
Total assets	$ 55,376	$ 105,149	$ 55,376	$ 105,149

LOW-INCOME HOUSING TAX CREDIT_2

LOW-INCOME HOUSING TAX CREDIT INVESTMENT (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Schedule of Investments [Line Items]
Unfunded commitments	$ 0.2		$ 0.2		$ 2.2
Tax credits and other benefits	0.1	$ 0	0.3	$ 0
Impairment losses	0	0	0	0
Other Assets [Member]
Schedule of Investments [Line Items]
Investment balance	2.8		2.8		$ 1.1
Income Tax Expense (Benefit)
Schedule of Investments [Line Items]
Amortization expense	$ 0.1	$ 0	$ 0.3	$ 0

REGULATORY CAPITAL MATTERS (Det

REGULATORY CAPITAL MATTERS (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)item	Dec. 31, 2020USD ($)
REGULATORY CAPITAL MATTERS
Capital conservation buffer	2.50%
Common Equity Tier 1 capital ratio including capital conservation buffer (as a percent)	7.00%
Number of conditions or events to be performed | item	0
Common Equity Tier 1 (CET 1) to risk-weighted assets
Actual Amount	$ 151,950	$ 131,507
Actual Ratio (as a percent)	10.66%	9.96%
Tier 1 capital to risk-weighted assets
Actual Amount	$ 151,950	$ 131,507
Actual Ratio (as a percent)	10.66	9.96
Required for Capital Adequacy Purposes Amount (as a percent)	8.5
Total capital to risk-weighted assets
Actual Amount	$ 204,809	$ 168,957
Actual Ratio (as a percent)	14.37	12.80
Required for Capital Adequacy Purposes Ratio (as a percent)	10.5
Tier 1 capital to average assets
Actual Amount	$ 151,950	$ 131,507
Actual Ratio (as a percent)	7.86	7.45
Bank
Common Equity Tier 1 (CET 1) to risk-weighted assets
Actual Amount	$ 156,136	$ 133,963
Actual Ratio (as a percent)	11.02%	10.22%
Required for Capital Adequacy Purposes Amount	$ 63,764	$ 58,995
Required for Capital Adequacy Purposes Ratio (as a percent)	4.50%	4.50%
To be Well Capitalized Under Prompt Corrective Action Regulations Amount	$ 92,104	$ 85,215
To be Well Capitalized Under Prompt Corrective Action Regulations Ratio (as a percent)	6.50%	6.50%
Tier 1 capital to risk-weighted assets
Actual Amount	$ 156,136	$ 133,963
Actual Ratio (as a percent)	11.02	10.22
Required for Capital Adequacy Purposes Amount	$ 85,019	$ 78,660
Required for Capital Adequacy Purposes Amount (as a percent)	6	6
To be Well Capitalized Under Prompt Corrective Action Regulations Amount	$ 113,359	$ 104,880
To be Well Capitalized Under Prompt Corrective Action Regulations Ratio (as a percent)	8	8
Total capital to risk-weighted assets
Actual Amount	$ 169,435	$ 146,853
Actual Ratio (as a percent)	11.96	11.20
Required for Capital Adequacy Purposes Amount	$ 113,359	$ 104,880
Required for Capital Adequacy Purposes Ratio (as a percent)	8	8
To be Well Capitalized Under Prompt Corrective Action Regulations Amount	$ 141,699	$ 131,100
To be Well Capitalized Under Prompt Corrective Action Regulations Ratio (as a percent)	10	10
Tier 1 capital to average assets
Actual Amount	$ 156,136	$ 133,963
Actual Ratio (as a percent)	8.11	7.62
Required for Capital Adequacy Purposes Amount	$ 77,047	$ 70,301
Required for Capital Adequacy Purposes Ratio (as a percent)	4	4
To be Well Capitalized Under Prompt Corrective Action Regulations Amount	$ 96,308	$ 87,877
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	5	5