First Western Financial (MYFW) 10-Q6 May 222022 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2022	May 02, 2022
Document And Entity Information Abstract
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
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		9,466,585
Entity Central Index Key	0001327607
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Cash and cash equivalents:
Cash and due from banks	$ 5,961	$ 6,487
Federal funds sold	1,273	1,491
Interest-bearing deposits in other financial institutions	446,865	379,005
Total cash and cash equivalents	454,099	386,983
Available-for-sale securities, at fair value	58,727	55,562
Correspondent bank stock, at cost	1,617	2,584
Mortgage loans held for sale, at fair value	33,663	30,620
Loans (includes $6,380 and $0 measured at fair value, respectively)	1,923,825	1,949,137
Allowance for loan losses	(13,885)	(13,732)
Loans, net	1,909,940	1,935,405
Premises and equipment, net	23,539	23,976
Accrued interest receivable	6,969	7,151
Accounts receivable	6,445	5,267
Other receivables	2,841	1,949
Goodwill and other intangible assets, net	32,335	31,902
Deferred tax assets, net	7,540	6,845
Company-owned life insurance	15,889	15,803
Other assets	22,940	23,327
Assets held for sale	117	115
Total assets	2,576,661	2,527,489
Deposits:
Noninterest-bearing	654,401	636,304
Interest-bearing	1,617,711	1,569,399
Total deposits	2,272,112	2,205,703
Borrowings:
Federal Home Loan Bank and Federal Reserve borrowings	27,576	38,629
Subordinated notes	32,523	39,031
Accrued interest payable	312	355
Other liabilities	20,872	24,730
Total liabilities	2,353,395	2,308,448
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; 9,430,007 and 9,419,271 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively
Additional paid-in capital	189,283	188,629
Retained earnings	35,713	30,189
Accumulated other comprehensive income	(1,730)	223
Total shareholders' equity	223,266	219,041
Total liabilities and shareholders' equity	$ 2,576,661	$ 2,527,489

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
CONDENSED CONSOLIDATED BALANCE SHEETS
Loan measured at fair value	$ 6,380	$ 0
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	9,430,007	9,419,271
Common Stock, shares outstanding	9,430,007	9,419,271

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Interest and dividend income:
Loans, including fees	$ 19,096	$ 14,212
Investment securities	337	196
Interest-bearing deposits in other financial institutions	232	91
Total interest and dividend income	19,665	14,499
Interest expense:
Deposits	943	974
Other borrowed funds	438	472
Total interest expense	1,381	1,446
Net interest income	18,284	13,053
Less: Provision for loan losses	210
Net interest income, after provision for loan losses	18,074	13,053
Non-interest income:
Trust and investment management fees	5,168	4,847
Net gain on mortgage loans	2,494	5,196
Bank fees	690	373
Risk management and insurance fees	109	51
Income on company-owned life insurance	86	88
Net gain on equity interests	1
Other	85	60
Total non-interest income	8,633	10,615
Total income before non-interest expense	26,707	23,668
Non-interest expense:
Salaries and employee benefits	12,058	9,861
Occupancy and equipment	1,882	1,409
Professional services	1,526	1,279
Technology and information systems	1,046	942
Data processing	1,187	1,015
Marketing	557	321
Amortization of other intangible assets	77	4
Net (gain)/loss on assets held for sale	(1)
Other	1,059	798
Total non-interest expense	19,391	15,629
Income before income taxes	7,316	8,039
Income tax expense	1,792	2,040
Net income available to common shareholders	$ 5,524	$ 5,999
Earnings per common share:
Basic	$ 0.59	$ 0.76
Diluted	$ 0.57	$ 0.74

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 5,524	$ 5,999
Other comprehensive income items, net of tax effect:
Net change in unrealized losses on available-for-sale securities	(1,953)	(101)
Comprehensive income	$ 3,571	$ 5,898

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (loss)	Total
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			5,999		5,999
Other comprehensive loss, net of tax				(101)	(101)
Settlement of share awards		(34)			(34)
Settlement of share awards (in shares)	6,127
Stock-based compensation		613			613
Balance at Ending at Mar. 31, 2021		145,282	15,578	579	161,439
Balance at Ending (in shares) at Mar. 31, 2021	7,957,900
Balance at Beginning at Dec. 31, 2021		188,629	30,189	223	219,041
Balance at Beginning (in shares) at Dec. 31, 2021	9,419,271
Increase (Decrease) in Stockholders' Equity
Net income			5,524		5,524
Other comprehensive loss, net of tax				(1,953)	(1,953)
Settlement of share awards		(131)			(131)
Settlement of share awards (in shares)	8,225
Options exercised		58			58
Options exercised (in shares)	2,511
Stock-based compensation		727			727
Balance at Ending at Mar. 31, 2022		$ 189,283	$ 35,713	$ (1,730)	$ 223,266
Balance at Ending (in shares) at Mar. 31, 2022	9,430,007

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities
Net income	$ 5,524	$ 5,999
Adjustments to reconcile net income to net cash used in operating activities:
Net amortization of investment securities	27	145
Stock dividends received on correspondent bank stock	(19)	(23)
Provision for loan losses	210
Net gain on mortgage loans	(2,494)	(5,196)
Origination of mortgage loans held for sale	(148,647)	(490,783)
Proceeds from mortgage loans	147,618	482,058
Depreciation and amortization	626	284
Deferred income tax benefits, net of valuation allowance	14	30
Increase in cash surrender value of company-owned life insurance	(86)	(88)
Stock-based compensation	727	613
Net changes in operating assets and liabilities:
Change in accounts receivable	288	172
Change in accrued interest receivable and other assets	(1,591)	(2,473)
Change in accrued interest payable and other liabilities	(3,183)	(1,829)
Net cash used in operating activities	(986)	(11,091)
Activity in available-for-sale securities:
Maturities, prepayments, and calls	3,218	5,673
Purchases	(9,000)
Purchases of correspondent bank stock		(1)
Redemption of correspondent bank stock	986
Contributions to low-income housing tax credit investments	(214)
Loan and note receivable originations and principal collections, net	30,800	(10,406)
Purchases of premises and equipment	(45)	(725)
Purchases of loans	(6,380)
Proceeds from sale of other real estate owned		194
Net cash provided by/(used in) investing activities	19,365	(5,265)
Cash flows from financing activities
Net change in deposits	66,438	187,915
Payments to Federal Reserve borrowings	(11,053)	(28,513)
Proceeds from Federal Reserve borrowings		76,991
Payments on subordinated notes	(6,575)
Proceeds from subordinated notes, net of issuance costs		(56)
Proceeds from the exercise of stock options	58
Settlement of restricted stock	(131)	(34)
Net cash provided by financing activities	48,737	236,303
Net change in cash and cash equivalents	67,116	219,947
Cash and cash equivalents, beginning of year	386,983	155,989
Cash and cash equivalents, end of period	454,099	375,936
Supplemental cash flow information:
Interest paid on deposits and borrowed funds	1,424	1,287
Cash paid for lease liabilities	1,462	1,300
Supplemental noncash disclosures:
Change in unrealized loss on available-for-sale securities	$ (2,591)	$ (148)

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2022
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, Laramie, Pinedale, and Rock Springs). 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, 2021 condensed consolidated balance sheet has been derived from the audited financial statements for the year ended December 31, 2021. 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 months ended March 31, 2022 are not necessarily indicative of results that may be expected for the full year ending December 31, 2022. 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, 2021 as filed with the SEC. Consolidation Business Combinations and Divestitures Use of Estimates 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 extended publication of the most commonly used U.S. Dollar LIBOR settings to June 30, 2023, and ceased 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 no longer originates LIBOR indexed loans. Existing LIBOR indexed commercial loans are expected to be transitioned to SOFR by June 30, 2022. Consumer indexed loans are being managed in accordance with Interagency Guidance. 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 4 – Loans and the Allowance for Loan Losses 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 March 31, 2022. See Note 4 – Loans and the Allowance for Loan Losses 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 4 – Loans and the Allowance for Loan Losses for further discussion on our participation in the program. Reclassifications Recently adopted accounting pronouncements In January 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment 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 three months ended March 31, 2022, the CECL committee of the Company continued to work through its implementation plan. The Company has selected a champion quantitative model to approximate expected losses by call code segment using regional and other appropriate peers. The Company has selected qualitative factors and evaluated those factors for each loan segment for the quarter ended March, 31, 2022. The Company has begun to document policies and procedures, internal control structure, and process flows. Using this information, the Company successfully ran parallel models for the quarter in order for management to review and compare results between the initial CECL model and existing ALLL model. Currently, we are unable to estimate the impact the adoption of this update will have on the condensed 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.

ACQUISITIONS

ACQUISITIONS	3 Months Ended
ACQUISITIONS	Mar. 31, 2022
ACQUISITIONS
ACQUISITIONS	NOTE 2 – ACQUISITIONS On July 22, 2021, the Company entered into the Merger Agreement with Teton, parent company of Rocky Mountain Bank, a Wyoming-chartered bank headquartered in Jackson, Wyoming. The Merger Agreement provided that, subject to the terms and conditions set forth in the Merger Agreement, Teton would merge into the Company, with the Company continuing as the surviving corporation. The Merger Agreement also provided that following the merger, Rocky Mountain Bank would merge with and into the Bank, with the Bank surviving the bank merger. The transaction closed on December 31, 2021 with an aggregate purchase price of $51.3 million. As part of its long-term growth strategy, the Teton Acquisition expands First Western’s presence in Wyoming and allows the Bank to deliver its unique approach to private and commercial banking to more clients in the region. The Teton Acquisition was accounted for under the acquisition method of accounting and therefore all assets and liabilities have been measured and recorded at their provisional fair values as of the acquisition close date of December 31, 2021 with final measurement period adjustments made as of March 31, 2022. All non-equity acquisition related costs were expensed as incurred. Certain acquisition costs related to the issuance of equity were capitalized as of December 31, 2021. Market value adjustments for assets acquired and liabilities assumed are amortized or accreted on a level yield basis over the estimated life of the asset or liability. Loans acquired were recorded at their estimated fair value and therefore no allowance for loan and lease losses was recorded at the date of acquisition. Additionally, core deposit intangible assets were identified and recorded at their estimated fair values and are amortized over their estimated useful life. On August 31, 2021, the Company completed the issuance and sale of subordinated notes, which provided partial funding of the transaction. See Note 8 – Borrowings for more information. During the three months ended March 31, 2022, the Company finalized its application of purchase accounting. The following presents the final valuation of the assets acquired and liabilities assumed in the transaction with Teton as of December 31, 2021, including the measurement period adjustments to the provisional estimates (dollars in thousands): As of December 31, 2021 Provisional Measurement Period Acquired Fair value of consideration transferred Estimates Adjustments Balances Cash consideration $ 11,501 $ — $ 11,501 Common stock issued 39,818 — 39,818 Total fair value of consideration transferred 51,319 — 51,319 Assets acquired Cash and cash equivalents 132,498 — 132,498 Available-for-sale securities, at fair value 18,058 — 18,058 Correspondent bank stock, at cost 928 — 928 Mortgage loans held for sale 840 — 840 Loans 252,275 (857) 251,418 Premises and equipment 17,758 — 17,758 Accrued interest receivable 923 — 923 Accounts receivable 95 — 95 Other receivable 520 — 520 Core deposit intangible (1) 1,264 698 1,962 Other assets 226 242 468 Assets held for sale 115 5 120 Total assets acquired 425,500 88 425,588 Liabilities assumed Deposits 379,227 (29) 379,198 Accrued interest payable 26 — 26 Other liabilities 1,283 — 1,283 Deferred tax liabilities/(assets), net 42 (71) (29) Total liabilities assumed 380,578 (100) 380,478 Net assets acquired 44,922 188 45,110 Goodwill recognized $ 6,397 $ (188) $ 6,209 _____________________________________ (1) The core deposit intangible was determined to have an estimated life of 10 years . The Company incurred $0.5 million in expenses related to the acquisition during the three months ended March 31, 2022. The following presents the acquisition expenses within Non-interest expense of the Condensed Consolidated Statements of Income as of the date noted (dollars in thousands): Three Months Ended March 31, 2022 Mergers and acquisitions expense: Salaries and employee benefits $ 229 Professional services 112 Marketing 70 Data processing 115 Other 1 Total mergers and acquisitions expense $ 527 The following table presents pro forma information for the three months ended March 31, 2022 and 2021, as if the Teton Acquisition had occurred on January 1, 2021. This table has been prepared for comparative purposes only, and is not indicative of the actual results that would have been attained had the acquisitions occurred as of the beginning of the periods presented, nor is it indicative of future results (in thousands, except per share data): Pro Forma Three Months Ended March 31, 2022 2021 Net interest income after provision for loan losses $ 18,074 $ 16,456 Noninterest income 8,633 11,320 Net income 5,524 3,656 Pro forma earnings per share: Basic 0.59 0.39 Diluted 0.57 0.39

INVESTMENT SECURITIES

INVESTMENT SECURITIES	3 Months Ended
INVESTMENT SECURITIES	Mar. 31, 2022
INVESTMENT SECURITIES
INVESTMENT SECURITIES	NOTE 3 - 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 the dates noted (dollars in thousands): Gross Gross Amortized Unrealized Unrealized Fair March 31, 2022 Cost Gains Losses Value Investment securities available-for-sale: U.S. Treasury debt $ 250 $ — $ (11) $ 239 U.S. Government Agency 2,959 — (92) 2,867 Corporate bonds 17,110 142 (169) 17,083 GNMA mortgage-backed securities – residential 24,890 4 (1,352) 23,542 FNMA mortgage-backed securities – residential 13,779 3 (780) 13,002 Government CMO and MBS - commercial 672 — (14) 658 Corporate CMO and MBS 1,362 — (26) 1,336 Total securities available-for-sale $ 61,022 $ 149 $ (2,444) $ 58,727 Gross Gross Amortized Unrealized Unrealized Fair December 31, 2021 Cost Gains Losses Value Investment securities available-for-sale: U.S. Treasury debt $ 250 $ — $ (3) $ 247 U.S. Government Agency 3,522 — — 3,522 Corporate bonds 8,113 227 (15) 8,325 GNMA mortgage-backed securities – residential 26,611 185 (146) 26,650 FNMA mortgage-backed securities – residential 14,400 43 — 14,443 Government CMO and MBS - commercial 878 — — 878 Corporate CMO and MBS 1,492 23 (18) 1,497 Total securities available-for-sale $ 55,266 $ 478 $ (182) $ 55,562 As of March 31, 2022, the amortized cost and estimated fair value of available-for-sale securities have contractual maturity dates shown in the table below (dollars 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 March 31, 2022 Cost Value Due within one year $ 254 $ 252 Due between one year and five years 374 361 Due between five years and ten years 18,207 18,146 Due after ten years 1,484 1,430 Securities (CMO and MBS) 40,703 38,538 Total $ 61,022 $ 58,727 In the first quarter of 2022, the Company committed $3.0 million in capital to a bank technology fund. During the three months ended March 31, 2022, the Company made $0.4 million in contributions to the partnership. As of March 31, 2022, the Company held a balance of $0.4 million, which is included in Other assets in the accompanying Condensed Consolidated Balance Sheets. The Company may be obligated to invest up to an additional $2.5 million in future contributions. In 2014, the Company began investing in a small business investment company ("SBIC") fund administered by the Small Business Administration. The Company did not make any contributions to the SBIC fund during the three months ended March 31, 2022 or the year ended December 31, 2021 and received a $0.1 million return of capital during each period. As of March 31, 2022 and December 31, 2021, the Company held a balance of $2.0 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 $1.0 million in future SBIC investments. As of March 31, 2022 and December 31, 2021, securities with carrying values totaling $15.2 million and $17.3 million, respectively, were pledged to secure various public deposits and credit facilities of the Company. As of March 31, 2022 and December 31, 2021, 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 March 31, 2022 and December 31, 2021, ninety securities and ten securities were in an unrealized loss position, with unrealized losses totaling $2.4 million and $0.2 million, respectively. Of the securities in an unrealized loss position as of March 31, 2022, two have been in a continuous unrealized loss position for more than twelve months and the remaining have been in a continuous unrealized loss position for less than twelve months. The unrealized loss positions were caused primarily by interest rate changes and market assumptions about prepayments of principal and interest on the underlying mortgages. Because the decline in market value is attributable to market conditions, not credit quality, and because the Company has the ability and intent to hold these investments until a recovery of fair value, which may be near or at maturity, the Company does not consider these investments to be other-than-temporarily impaired as of March 31, 2022. The following presents securities with unrealized losses aggregated by major security type and length of time in a continuous unrealized loss position as of the dates noted (dollars in thousands, before tax): Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2022 Value Losses Value Losses Value Losses U.S. Treasury debt $ 239 $ (11) $ — $ — $ 239 $ (11) U.S. Government Agency 2,867 (92) — — 2,867 (92) Corporate bonds 7,112 (138) 469 (31) 7,581 (169) GNMA mortgage-backed securities – residential 23,132 (1,352) — — 23,132 (1,352) FNMA mortgage-backed securities – residential 12,802 (780) — — 12,802 (780) Government CMO and MBS - commercial 658 (14) — — 658 (14) Corporate CMO and MBS 647 (4) 485 (22) 1,132 (26) Total $ 47,457 $ (2,391) $ 954 $ (53) $ 48,411 $ (2,444) Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2021 Value Losses Value Losses Value Losses U.S. Treasury debt $ 247 $ (3) $ — $ — $ 247 $ (3) Corporate bonds 485 (15) — — 485 (15) GNMA mortgage-backed securities – residential 17,205 (146) — — 17,205 (146) Corporate CMO and MBS — — 521 (18) 521 (18) Total $ 17,937 $ (164) $ 521 $ (18) $ 18,458 $ (182) The Company did not sell any securities during the three months ended March 31, 2022 or during the year ended December 31, 2021.

LOANS AND THE ALLOWANCE FOR LOA

LOANS AND THE ALLOWANCE FOR LOAN LOSSES	3 Months Ended
LOANS AND THE ALLOWANCE FOR LOAN LOSSES	Mar. 31, 2022
LOANS AND THE ALLOWANCE FOR LOAN LOSSES
LOANS AND THE ALLOWANCE FOR LOAN LOSSES	NOTE 4 - LOANS AND THE ALLOWANCE FOR LOAN LOSSES The following presents a summary of the Company’s loans as of the dates noted (dollars in thousands): March 31, December 31, 2022 2021 Cash, Securities, and Other (1) $ 271,811 $ 295,948 Construction and Development 151,651 178,716 1-4 Family Residential 602,412 580,872 Non-Owner Occupied CRE 455,715 482,622 Owner Occupied CRE 212,401 212,426 Commercial and Industrial (2) 237,144 203,584 Total loans held for investment 1,931,134 1,954,168 Deferred fees and unamortized premiums/(unaccreted discounts), net (7,309) (5,031) Allowance for loan losses (13,885) (13,732) Loans, net $ 1,909,940 $ 1,935,405 ______________________________________ (1) 2022 and December 31, 2021, respectively. Includes (2) As of March 31, 2022 and December 31, 2021, total loans held for investment included $323.6 million and $356.7 million, respectively, of performing loans purchased through mergers or acquisitions. As of March 31, 2022 and December 31, 2021, Cash, Securities, and Other included $6.4 million and $0.0 million, respectively, of loans held for investment measured at fair value. See Note 14 – Fair Value Option. 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 March 31, 2022, the Cash, Securities, and Other portion of the loan portfolio included $16.7 million of PPP loans, or 6.1% of the total category. As of December 31, 2021, the Cash, Securities, and Other portion of the loan portfolio included $46.8 million of PPP loans, or 15.8% 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 March 31, 2022, the Company’s Commercial and Industrial loans included five MSLP loans with the net carrying amount of $6.8 million, or 2.9% of the total category. As of December 31, 2021, the Company’s Commercial and Industrial loans included five MSLP loans with the net carrying amount of $6.8 million, or 3.3% 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. In 2021, the deferral period ended for all non-acquired loans previously modified and payments resumed under the original terms. As of March 31, 2022, the Company’s loan portfolio included 69 non-acquired loans which were previously modified under the loan modification program, totaling $109.8 million. Through the Teton Acquisition, the Company acquired 18 loans totaling $8.3 million as of March 31, 2022, which were previously modified and are still in their deferral period. 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 and pass rated as of March 31, 2022. 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. 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 March 31, 2022, 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, and unamortized premiums/(unaccreted discounts) which are not material) in loans past due as of the dates noted (dollars in thousands): 30-59 60-89 90 or Total Total Days Days More Days Loans Recorded March 31, 2022 Past Due Past Due Past Due Past Due Current Investment Cash, Securities and Other $ 321 $ 351 $ 36 $ 708 $ 271,103 $ 271,811 Construction and Development 2,069 — — 2,069 149,582 151,651 1-4 Family Residential 3,575 — — 3,575 598,837 602,412 Non-Owner Occupied CRE — 509 — 509 455,206 455,715 Owner Occupied CRE — — — — 212,401 212,401 Commercial and Industrial 11,145 — 2,190 13,335 223,809 237,144 Total $ 17,110 $ 860 $ 2,226 $ 20,196 $ 1,910,938 $ 1,931,134 30-59 60-89 90 or Total Total Days Days More Days Loans Recorded December 31, 2021 Past Due Past Due Past Due Past Due Current Investment Cash, Securities and Other $ 1,199 $ — $ 8 $ 1,207 $ 294,741 $ 295,948 Construction and Development 2,758 — — 2,758 175,958 178,716 1-4 Family Residential 1,449 — — 1,449 579,423 580,872 Non-Owner Occupied CRE — 2,548 — 2,548 480,074 482,622 Owner Occupied CRE 1,419 — — 1,419 211,007 212,426 Commercial and Industrial 748 — 2,200 2,948 200,636 203,584 Total $ 7,573 $ 2,548 $ 2,208 $ 12,329 $ 1,941,839 $ 1,954,168 As of March 31, 2022, the Company had eleven loans, totaling an immaterial amount, in the Cash, Securities and Other portfolio that were more than 90 days delinquent and accruing interest. As of December 31, 2021, the Company had one loan, totaling an immaterial amount, in the Commercial and Industrial portfolio that was 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 (dollars in thousands): March 31, December 31, 2022 2021 Cash, Securities and Other $ 6 $ 8 1-4 Family Residential 72 75 Owner Occupied CRE 1,222 1,241 Commercial and Industrial 2,926 2,938 Total $ 4,226 $ 4,262 Non-accrual loans classified as TDRs accounted for $4.2 million of the recorded investment as of March 31, 2022 and $4.3 million as of December 31, 2021. 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 (dollars in thousands): March 31, December 31, 2022 2021 Accruing Non-Owner Occupied CRE $ 51 $ 55 Non-accrual Cash, Securities, and Other 4 6 1-4 Family Residential 72 75 Owner Occupied CRE 1,222 1,241 Commercial and Industrial 2,926 2,938 Total 4,275 4,315 Allowance for loan losses associated with TDR (1,751) (1,751) Net recorded investment $ 2,524 $ 2,564 As of March 31, 2022 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 three months ended March 31, 2022. The Company modified three loans resulting in TDR status during the year ended December 31, 2021. The first loan was a small mortgage with a remaining balance of $0.1 million where the borrower was unable to make payments or obtain additional financing to pay off the mortgage. As a result, we have modified the loan at the maturity date with a one-year renewal to allow the borrower time to seek a refinance. As of December 31, 2021, this loan remains current under the terms of the modification. The second and third loans modified are in relation to one borrower who has two loans, one Commercial Real Estate Loan in the amount of $1.2 million, which is the space where the related business operates, and a Commercial loan with a balance of $0.7 million. The borrower has experienced a reduction in cash flow through ongoing impact from the pandemic and related shut downs and hiring shortages. As a result, the Company modified both loans allowing for a six month interest only period to provide cash flow relief. The Company obtained a reduced term on the business loan as well as additional collateral from the Borrower. All three of the loans modified during 2021 were sufficiently collateralized and therefore did not require any specific reserve. 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 presents impaired loans by portfolio and related valuation allowance during the periods presented (dollars in thousands): March 31, 2022 December 31, 2021 Unpaid Allowance Unpaid Allowance Total Contractual for Total Contractual for Recorded Principal Loan Recorded Principal Loan Investment Balance Losses Investment Balance Losses Impaired loans with a valuation allowance: Cash, Securities, and Other $ 2 $ 2 $ 2 $ 2 $ 2 $ 2 Commercial and Industrial 2,190 2,190 1,751 2,190 2,190 1,751 Total $ 2,192 $ 2,192 $ 1,753 $ 2,192 $ 2,192 $ 1,753 Impaired loans with no related valuation allowance: Cash, Securities, and Other $ 4 $ 4 $ — $ 6 $ 6 $ — 1-4 Family Residential 72 72 — 75 75 — Owner Occupied CRE 1,222 1,222 — 1,241 1,241 — Commercial and Industrial 736 736 — 748 748 — Total $ 2,034 $ 2,034 $ — $ 2,070 $ 2,070 $ — Total impaired loans: Cash, Securities, and Other $ 6 $ 6 $ 2 $ 8 $ 8 $ 2 1-4 Family Residential 72 72 — 75 75 — Owner Occupied CRE 1,222 1,222 — 1,241 1,241 — Commercial and Industrial 2,926 2,926 1,751 2,938 2,938 1,751 Total $ 4,226 $ 4,226 $ 1,753 $ 4,262 $ 4,262 $ 1,753 The recorded investment in loans in the previous tables excludes accrued interest, deferred fees, and unamortized premiums/(unaccreted discounts), which are not material. Interest income, if any, was recognized on the cash basis on non-accrual loans. The following presents the average balance of impaired loans and interest income recognized on impaired loans during the periods presented (dollars in thousands): Three Months Ended March 31, 2022 2021 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized Impaired loans with a valuation allowance: Cash, Securities, and Other $ 2 $ — $ 3 $ — Commercial and Industrial 2,190 — 3,419 — Total $ 2,192 $ — $ 3,422 $ — Impaired loans with no related valuation allowance: Cash, Securities, and Other $ 5 $ — $ 34 $ — Owner Occupied CRE 1,231 — 479 — Commercial and Industrial 742 — 105 — 1-4 Family Residential 74 — — — Total $ 2,052 $ — $ 618 $ — Total impaired loans: Cash, Securities, and Other $ 7 $ — $ 37 $ — Owner Occupied CRE 1,231 — 479 — Commercial and Industrial 2,932 — 3,524 — 1-4 Family Residential 74 — — — Total $ 4,244 $ — $ 4,040 $ — 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 during the periods presented (dollars 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 March 31, 2022 Beginning balance $ 1,864 $ 1,092 $ 3,553 $ 2,952 $ 1,292 $ 2,979 $ 13,732 (Release)/provision for loan losses (84) (138) 236 (85) 36 245 210 Charge-offs (97) — — — — — (97) Recoveries 40 — — — — — 40 Ending balance $ 1,723 $ 954 $ 3,789 $ 2,867 $ 1,328 $ 3,224 $ 13,885 Allowance for loan losses as of March 31, 2022 allocated to loans evaluated for impairment: Individually $ 2 $ — $ — $ — $ — $ 1,751 $ 1,753 Collectively 1,721 954 3,789 2,867 1,328 1,473 12,132 Ending balance $ 1,723 $ 954 $ 3,789 $ 2,867 $ 1,328 $ 3,224 $ 13,885 Loans as of March 31, 2022: Individually evaluated for impairment $ 6 $ — $ 72 $ — $ 1,222 $ 2,926 $ 4,226 Collectively evaluated for impairment 265,425 151,651 602,340 455,715 211,179 234,218 1,920,528 Measured at fair value 6,380 — — — — — 6,380 Ending balance $ 271,811 $ 151,651 $ 602,412 $ 455,715 $ 212,401 $ 237,144 $ 1,931,134 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 March 31, 2021 Beginning balance $ 2,579 $ 932 $ 3,233 $ 2,004 $ 1,159 $ 2,632 $ 12,539 (Release)/provision for loan losses (6) (166) (81) 207 (36) 82 — Charge-offs — — — — — — — Recoveries — — — — — — — Ending balance $ 2,573 $ 766 $ 3,152 $ 2,211 $ 1,123 $ 2,714 $ 12,539 Allowance for loan losses as of December 31, 2021 allocated to loans evaluated for impairment: Individually $ 2 $ — $ — $ — $ — $ 1,751 $ 1,753 Collectively 1,862 1,092 3,553 2,952 1,292 1,228 11,979 Ending balance $ 1,864 $ 1,092 $ 3,553 $ 2,952 $ 1,292 $ 2,979 $ 13,732 Loans as of December 31, 2021: Individually evaluated for impairment $ 8 $ — $ 75 $ — $ 1,241 $ 2,938 $ 4,262 Collectively evaluated for impairment 295,940 178,716 580,797 482,622 211,185 200,646 1,949,906 Ending balance $ 295,948 $ 178,716 $ 580,872 $ 482,622 $ 212,426 $ 203,584 $ 1,954,168 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 accounted for under the fair value option are not rated. 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 the dates noted (dollars in thousands): Special March 31, 2022 Pass Mention Substandard Not Rated Total Cash, Securities and Other $ 265,425 $ — $ 6 $ 6,380 $ 271,811 Construction and Development 151,651 — — — 151,651 1-4 Family Residential 602,340 — 72 — 602,412 Non-Owner Occupied CRE 449,811 5,904 — — 455,715 Owner Occupied CRE 210,492 — 1,909 — 212,401 Commercial and Industrial 231,938 393 4,813 — 237,144 Total $ 1,911,657 $ 6,297 $ 6,800 $ 6,380 $ 1,931,134 Special December 31, 2021 Pass Mention Substandard Not Rated Total Cash, Securities and Other $ 295,940 $ — $ 8 $ — $ 295,948 Construction and Development 176,194 2,522 — — 178,716 1-4 Family Residential 580,797 — 75 — 580,872 Non-Owner Occupied CRE 476,670 5,952 — — 482,622 Owner Occupied CRE 210,493 — 1,933 — 212,426 Commercial and Industrial 198,368 401 4,815 — 203,584 Total $ 1,938,462 $ 8,875 $ 6,831 $ — $ 1,954,168 The Company had no loans graded doubtful as of March 31, 2022 and December 31, 2021.

GOODWILL

GOODWILL	3 Months Ended
GOODWILL	Mar. 31, 2022
Goodwill.
Goodwill	NOTE 5 - GOODWILL The following presents changes in the carrying amount of goodwill as of the dates noted (dollars in thousands): March 31, December 31, 2022 2021 Beginning balance $ 30,588 $ 24,191 Acquisition activity (188) 6,397 Ending balance $ 30,400 $ 30,588 During the year ended December 31, 2021, the Company recorded $6.4 million of goodwill as a result of the Teton Acquisition on December 31, 2021. During the three months ended March 31, 2022, goodwill was adjusted by ($0.2) million as a result of the measurement period adjustments. See Note 2 – Acquisitions for more information. Goodwill is tested annually for impairment on October 31 or earlier upon the occurrence of certain events. 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 implied fair value of goodwill is lower than its carrying amount, goodwill impairment is indicated and goodwill is written down to its implied fair value. As of March 31, 2022, there has not been any impairment of goodwill identified or recorded. Goodwill totaled $30.4 million and $30.6 million as of March 31, 2022 and December 31, 2021, respectively.

LEASES

LEASES	3 Months Ended
LEASES	Mar. 31, 2022
LEASES
LEASES	NOTE 6 - 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. In accordance with ASC 842, operating leases are required to be recognized as a right-of-use asset with a corresponding lease liability. The Company elected to not include short-term leases with initial terms of twelve months or less on the Condensed Consolidated Balance Sheets. The following presents the classification of the right-of-use assets and corresponding liabilities within the Condensed Consolidated Balance Sheets, as of the dates noted (dollars in thousands). March 31, December 31, 2022 2021 Lease Right-of-Use Assets Classification Operating lease right-of-use assets Other assets $ 10,071 $ 10,720 Lease Liabilities Classification Operating lease liabilities Other liabilities $ 13,090 $ 13,863 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. March 31, December 31, 2022 2021 Weighted-Average Remaining Lease Term Operating leases 5.12 years 5.26 years Weighted-Average Discount Rate Operating leases 2.63 % 2.67 % 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 presents the Company’s net lease costs during the periods presented (dollars in thousands): Three Months Ended March 31, 2022 2021 Lease Costs Operating lease cost $ 795 $ 752 Variable lease cost 558 412 Lease costs, net $ 1,353 $ 1,164 The following 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 the date noted (dollars in thousands): Year Ending December 31, Operating Leases 2022 (1) $ 2,601 2023 3,210 2024 3,064 2025 2,073 2026 703 Thereafter 2,168 Total future minimum lease payments 13,819 Less: imputed interest (729) Present value of net future minimum lease payments $ 13,090 ________________________________________ (1) Year Ending December 31, Undiscounted Operating Lease Income 2022 (1) $ 205 2023 221 2024 199 2025 — 2026 — Thereafter — Total undiscounted operating lease income $ 625 ________________________________________ (1)

DEPOSITS

DEPOSITS	3 Months Ended
DEPOSITS	Mar. 31, 2022
DEPOSITS
DEPOSITS	NOTE 7 - DEPOSITS The following presents the Company’s interest-bearing deposits as of the dates noted (dollars in thousands): March 31, December 31, 2022 2021 Money market deposit accounts $ 1,108,315 $ 1,056,669 Time deposits 156,678 170,491 Negotiable order of withdrawal accounts 319,648 309,940 Savings accounts 33,070 32,299 Total interest-bearing deposits $ 1,617,711 $ 1,569,399 Aggregate time deposits of $250 or greater $ 73,602 $ 75,747 Overdraft balances classified as loans totaled an immaterial amount as of March 31, 2022 and December 31, 2021. The following presents the scheduled maturities of all time deposits for the next five years ending March 31 (dollars in thousands): Time Deposits 2022 (1) $ 89,023 2023 36,661 2024 6,382 2025 2,590 2026 17,137 Thereafter 4,885 Total $ 156,678 ________________________________________ (1)

BORROWINGS

BORROWINGS	3 Months Ended
BORROWINGS	Mar. 31, 2022
BORROWINGS
BORROWINGS	NOTE 8 - 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 March 31, 2022 and December 31, 2021 amounted to $815.5 million and $771.4 million, respectively. Based on this collateral and the Company’s holdings of FHLB stock, the Company was eligible to borrow an additional $541.2 million as of March 31, 2022. Each advance is payable at its maturity date. The following presents the Company’s required maturities on FHLB borrowings as of the dates noted (dollars in thousands): March 31, December 31, Maturity Date Rate % 2022 2021 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 March 31, 2022 and December 31, 2021, there were no amounts outstanding on any of the federal funds lines. 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 and as of March 31, 2022, a net balance of $14.8 million is 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. On November 25, 2020, the Company completed the issuance and sale of subordinated notes (the "November 2020 Sub Notes") totaling $10.0 million in aggregate principal amount. The issuance included $0.2 million of issuance costs and as of March 31, 2022, a net balance of $9.8 million is included in the Subordinated notes line of the Condensed Consolidated Balance Sheets. The November 2020 Sub Notes accrue interest at a rate of 4.25% per annum until December 1, 2025, at which time the rate will adjust each quarter to the then current three-month term SOFR, or an alternative rate determined in accordance with the terms of the November 2020 Sub Notes, plus 402 basis points; mature on December 1, 2030; are redeemable at the option of the Company on or after December 1, 2025; and pay interest semi-annually prior to December 1, 2025 and quarterly after December 1, 2025. On March 17, 2020, the Company completed the issuance and sale of subordinated notes (the ‘March 2020 Sub Notes”) totaling $8.0 million in aggregate principal amount. The issuance included $0.1 million of issuance costs and as of March 31, 2022, a net balance of $7.9 million is included in the Subordinated notes line of the Condensed Consolidated Balance Sheets. The March 2020 Sub Notes accrue interest at a rate of 5.125% per annum until March 31, 2025, at which time the rate will adjust each quarter to the then current three-month LIBOR, or an alternative rate determined in accordance with the terms of the March 2020 Sub Notes, plus 450 basis points; mature on March 31, 2030; are redeemable at the option of the Company on or after March 31, 2025; 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 17 – Regulatory Capital Matters for additional information. As of March 31, 2022 and December 31, 2021, the Company was in compliance with the covenant requirements.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2022
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 9 - 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 (dollars in thousands): March 31, 2022 December 31, 2021 Fixed Rate Variable Rate Fixed Rate Variable Rate Unused lines of credit $ 118,953 $ 509,677 $ 136,289 $ 442,035 Standby letters of credit 5,696 22,035 2,420 20,940 Commitments to make loans to sell 79,178 — 60,529 — Commitments to make loans 46,354 12,626 16,256 14,920 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	3 Months Ended
SHAREHOLDERS EQUITY	Mar. 31, 2022
SHAREHOLDERS EQUITY
SHAREHOLDERS EQUITY	NOTE 10 - 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 January 6, 2022, the Company filed a Form S-3 Registration Statement with the SEC providing that the Company may offer and sell from time to time, separately or together, in multiple series or in one or more offerings, any combination of common stock, preferred stock, debt securities, warrants, depository shares and units, up to a maximum aggregate offer price of $100 million. 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 (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 2020 Repurchase Plan was in effect for a one-year During the three months ended March 31, 2022 and 2021, 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 March 31, 2022, the Restricted Stock Awards have a weighted-average grant date fair value of $28.50 per share. During the three months ended March 31, 2022 and 2021, the Company recognized compensation expense of $0.1 million for the Restricted Stock Awards. As of March 31, 2022, the Company has $ 0.1 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 March 31, 2022, there were a total of 338,950 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 three months ended March 31, 2022 and 2021. During the three months ended March 31, 2022, the Company recognized no stock based compensation expense associated with stock options. During the three months ended March 31, 2021, the Company recognized an immaterial amount of stock based compensation expense. As of March 31, 2022, the Company has no unrecognized stock-based compensation expense related to stock options. The following presents activity for nonqualified stock options during the three months ended March 31, 2022: Weighted Weighted Average Number Average Remaining Aggregate of Exercise Contractual Intrinsic Options Price Term Value Outstanding as of December 31, 2021 308,574 $ 29.21 Granted — — Exercised (2,511) 23.01 Forfeited or expired (116,100) 40.00 Outstanding as of March 31, 2022 189,963 22.70 2.8 (1) Options fully vested / exercisable as of March 31, 2022 189,963 22.70 2.8 (1) ______________________________________ (1) As of March 31, 2022, there were 189,963 options that were exercisable. Exercise prices are between $20.00 and $27.00 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 presents the activity for the Time Vesting Units, the Financial Performance Units, and the Market Performance Units during the three months ended March 31, 2022: Time Financial Market Vesting Performance Performance Units Units Units Outstanding as of December 31, 2021 249,821 183,483 13,746 Granted — — — Vested (414) (12,100) — Forfeited (1,967) (671) — Outstanding as of March 31, 2022 247,440 170,712 13,746 During the three months ended March 31, 2022, the Company issued 8,225 shares of common stock upon the settlement of Restricted Stock Units. The remaining 4,289 shares were surrendered with a combined market value at the dates of settlement of $0.1 million to cover employee withholding taxes. During the three months ended March 31, 2021, the Company issued 6,127 shares of common stock upon the settlement of Restricted Stock Units. The remaining 2,824 shares were surrendered with a combined market value at the dates of settlement of $0.1 million to cover employee withholding taxes. Time Vesting Units 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 did not grant any Time Vesting Units during the three months ended March 31, 2022. During the three months ended March 31, 2022 and 2021, the Company recognized compensation expense of $0.4 million for the Time Vesting Units. As of March 31, 2022, there was $3.0 million of unrecognized compensation expense related to the Time Vesting Units, which is expected to be recognized over a weighted-average period of 1.4 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 March 31, 2022 (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 May 1, 2019 through April 30, 2020 150% 80,255 $ 292 1.8 years December 31, 2021 December 31, 2023 May 1, 2020 through December 31, 2020, excluding November 18, 2020 150% 81,099 400 2.8 years December 31, 2022 December 31, 2023 On November 18, 2020 150% 34,752 313 2.6 years December 31, 2022 50% November 18, 2023 & 2025 May 3, 2021 through August 11, 2021 150% 59,963 840 3.8 years December 31, 2023 December 31, 2025 ______________________________________ (1) The following presents the Company’s Financial Performance Units activity for the three months ended March 31 (dollars in thousands, except share amounts): Units Granted Compensation Expense Recognized Grant Period 2022 2021 2022 2021 Prior to May 1, 2019 — — $ — $ 15 May 1, 2019 through April 30, 2020 — — 61 56 May 1, 2020 through December 31, 2020, excluding November 18, 2020 — — 53 55 On November 18, 2020 — 30 34 May 3, 2021 through August 11, 2021 — — 81 — 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 months ended March 31, 2022 and 2021, the Company recognized an immaterial amount of compensation expense for the Market Performance Units. As of March 31, 2022, there was an immaterial amount 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	3 Months Ended
EARNINGS PER COMMON SHARE	Mar. 31, 2022
EARNINGS PER COMMON SHARE
EARNINGS PER COMMON SHARE	NOTE 11 - EARNINGS PER COMMON SHARE The following presents the calculation of basic and diluted earnings per common share during the periods presented (dollars in thousands, except share and per share amounts): Three Months Ended March 31, 2022 2021 Earnings per common share - Basic Numerator: Net income available for common shareholders $ 5,524 $ 5,999 Denominator: Basic weighted average shares 9,418,318 7,935,664 Earnings per common share - basic $ 0.59 $ 0.76 Earnings per common share - Diluted Numerator: Net income available for common shareholders $ 5,524 $ 5,999 Denominator: Basic weighted average shares 9,418,318 7,935,664 Diluted effect of common stock equivalents: Stock options 57,139 4,923 Time Vesting Units 189,538 102,530 Financial Performance Units 83,954 46,289 Market Performance Units 13,653 14,197 Total diluted effect of common stock equivalents 344,284 167,939 Diluted weighted average shares 9,762,602 8,103,603 Earnings per common share - diluted $ 0.57 $ 0.74 Diluted earnings per share was computed without consideration to potentially dilutive instruments as their inclusion would have been anti-dilutive. The following presents potentially dilutive securities excluded from the diluted earnings per share calculation during the periods presented: Three Months Ended March 31, 2022 2021 Stock options — 278,109 Time Vesting Units — 3,982 Financial Performance Units — 23,168 Restricted Stock Awards — 21,054 Total potentially dilutive securities — 326,313

INCOME TAXES

INCOME TAXES	3 Months Ended
INCOME TAXES	Mar. 31, 2022
INCOME TAXES
INCOME TAXES	NOTE 12 - INCOME TAXES During the three months ended March 31, 2022 and 2021, the Company recorded an income tax provision of $1.8 million and $2.0 million, respectively, reflecting an effective tax rate of 24.5% and 25.4%, respectively.

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	3 Months Ended
RELATED-PARTY TRANSACTIONS	Mar. 31, 2022
RELATED-PARTY TRANSACTIONS
RELATED-PARTY TRANSACTIONS	NOTE 13 - RELATED-PARTY TRANSACTIONS The Bank extends credit to certain covered parties including Company directors, executive officers and their affiliates. As of March 31, 2022 and December 31, 2021, 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 (dollars in thousands): March 31, 2022 December 31, 2021 Balance, beginning of year $ 12,833 $ 14,321 Funded loans 2,284 11,294 Payments collected (3,063) (12,782) Balance, end of period $ 12,054 $ 12,833 Deposits from related parties held by the Bank as of March 31, 2022 and December 31, 2021 totaled $46.5 million and $51.0 million, respectively. The Company leases office spaces from entities controlled by one of the Company’s board members. During the three months ended March 31, 2022 and 2021, the Company incurred an immaterial amount and $0.1 million, respectively, of expenses related to these leases.

FAIR VALUE

FAIR VALUE	3 Months Ended
FAIR VALUE	Mar. 31, 2022
FAIR VALUE
FAIR VALUE	NOTE 14 - 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. Recurring Fair Value Investment Securities : Equity Securities Equity Warrants Guarantee Asset and Liability : Mortgage Related Derivatives : Loans Held for Investment Mortgage Loans Held for Sale : The following presents assets and liabilities measured on a recurring basis as of the dates noted (dollars in thousands): Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Assets Inputs Inputs Reported March 31, 2022 (Level 1) (Level 2) (Level 3) Balance Investment securities available-for-sale: U.S. Treasury debt $ 239 $ — $ — $ 239 U.S. Government Agency — 2,867 — 2,867 Corporate bonds — 10,868 6,215 17,083 GNMA mortgage-backed securities - residential — 23,542 — 23,542 FNMA mortgage-backed securities - residential — 13,002 — 13,002 Government CMO and MBS — 658 — 658 Corporate CMO and MBS — 1,336 — 1,336 Total securities available-for-sale $ 239 $ 52,273 $ 6,215 $ 58,727 Mortgage loans held for sale $ — $ 33,663 $ — $ 33,663 Loans held at fair value $ — $ — $ 6,380 $ 6,380 Forward commitments and FSC $ — $ 1,478 $ — $ 1,478 Equity securities $ 676 $ 122 $ — $ 798 Guarantee asset $ — $ — $ 206 $ 206 IRLC, net $ — $ — $ 990 $ 990 Equity warrants $ — $ — $ 402 $ 402 Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Assets Inputs Inputs Reported December 31, 2021 (Level 1) (Level 2) (Level 3) Balance Investment securities available-for-sale: U.S. Treasury debt $ 247 $ — $ — $ 247 U.S. Government Agency — 3,522 — 3,522 Corporate bonds — 6,212 2,113 8,325 GNMA mortgage-backed securities - residential — 26,650 — 26,650 FNMA mortgage-backed securities - residential — 14,443 — 14,443 Government CMO and MBS — 878 — 878 Corporate CMO and MBS — 1,497 — 1,497 Total securities available-for-sale $ 247 $ 53,202 $ 2,113 $ 55,562 Mortgage loans held for sale $ — $ 30,620 $ — $ 30,620 Forward commitments and FSC $ — $ (65) $ (9) $ (74) Equity securities $ 709 $ 489 $ — $ 1,198 Guarantee asset $ — $ — $ 237 $ 237 IRLC, net $ — $ — $ 1,473 $ 1,473 Equity warrants $ — $ — $ 160 $ 160 There were no transfers between levels during the three months ended March 31, 2022 or year ended December 31, 2021. U.S. Treasury debt is reported at fair value utilizing Level 1 inputs. Three Corporate bonds are reported at fair value utilizing Level 3 inputs. The remaining portfolio of securities are reported at fair value with Level 2 inputs provided by a pricing service. As of March 31, 2022 and December 31, 2021, 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 March 31, 2022, equity securities, equity warrants, IRLC, and guarantee assets have been recorded at fair value within the Other assets line item in the Condensed Consolidated Balance Sheets. All changes are recorded in the Other line item in the Condensed Consolidated Statements of Income. Fair Value Option March 31, 2022 Total Loans Non Accruals 90 Days or More Past Due Fair Value Carrying Amount Unpaid Principal Balance Difference Fair Value Carrying Amount Unpaid Principal Balance Difference Fair Value Carrying Amount Unpaid Principal Balance Difference Loans held for sale $ 33,663 $ 33,713 $ (50) $ — $ — $ — $ — $ — $ — Loans held for investment 6,380 6,368 12 — — — — — — $ 40,043 $ 40,081 $ (38) $ — $ — $ — $ — $ — $ — December 31, 2021 Total Loans Non Accruals 90 Days or More Past Due Fair Value Carrying Amount Unpaid Principal Balance Difference Fair Value Carrying Amount Unpaid Principal Balance Difference Fair Value Carrying Amount Unpaid Principal Balance Difference Loans held for sale $ 30,620 $ 29,857 $ 763 $ — $ — $ — $ — $ — $ — Loans held for investment — — — — — — — — — $ 30,620 $ 29,857 $ 763 $ — $ — $ — $ — $ — $ — Three Months Ended March 31, 2022 2021 Loans held for sale $ (1,911) $ 125 Loans held for investment — — $ (1,911) $ 125 Three Months Ended March 31, Loans held for sale 2022 2021 Balance at beginning of period $ 30,620 $ 161,843 Loans originated 191,081 525,814 Loans acquired — — Fair value changes 667 5,969 Sales (188,666) (514,556) Settlements (39) (2,426) Balance at end of period $ 33,663 $ 176,644 Three Months Ended March 31, Loans held for investment 2022 2021 Balance at beginning of period $ — $ — Loans originated — — Loans acquired 6,380 — Fair value changes — — Sales — — Settlements — — Balance at end of period $ 6,380 $ — Nonrecurring Fair Value 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 measured on a nonrecurring basis as of the dates noted (dollars in thousands): Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Assets Inputs Inputs Reported March 31, 2022 (Level 1) (Level 2) (Level 3) Balance Impaired loans (1) Commercial and Industrial $ — $ — $ 439 $ 439 Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Assets Inputs Inputs Reported December 31, 2021 (Level 1) (Level 2) (Level 3) Balance Impaired loans (1) Commercial and Industrial $ — $ — $ 439 $ 439 ______________________________________ (1) The sales comparison approach was utilized for estimating the fair value of non-recurring assets. As of March 31, 2022 and December 31, 2021, the Company did not own any OREO properties. As of March 31, 2022 and December 31, 2021, total impaired loans measured for impairment using the fair value of the collateral for collateral dependent loans had carrying values of $2.2 million with valuation allowances of $1.8 million and were classified as Level 3. Impaired loans accounted for specific reserves of $1.8 million as of March 31, 2022 and December 31, 2021. The Company did not have any charge offs during the three months ended March 31, 2022 from the specific reserve. The Company charged off an immaterial amount during the year ended December 31, 2021 from the specific reserve. Level 3 Analysis The following presents a reconciliation for Level 3 instruments measured at fair value on a recurring basis as of the dates noted (dollars in thousands): Three Months Ended March 31, 2022 Corporate Bonds Loans Held at Fair Value FSC Guarantee Asset IRLC Equity Warrants Beginning balance $ 2,113 $ 6,380 $ (9) $ 237 $ 1,473 $ 160 Acquisitions 4,000 — 9 — 1,614 242 Originations — — — — (1,354) — Losses in net income, net — — — (31) (743) — Unrealized gains, net 102 — — — — — Ending balance $ 6,215 $ 6,380 $ — $ 206 $ 990 $ 402 Three Months Ended March 31, 2021 Corporate Bonds Loans Held at Fair Value FSC Guarantee Asset IRLC Equity Warrants Beginning balance $ — $ — $ (89) $ 232 $ 9,841 $ — Acquisitions — — — — 2,684 — Originations — — — — (7,016) — Losses in net income, net — — (84) (44) (3,404) — Unrealized gains/(losses), net — — — — — — Ending balance $ — $ — $ (173) $ 188 $ 2,105 $ — The following presents quantitative information about Level 3 assets measured on a recurring and nonrecurring basis as of the dates noted (dollars in thousands): Quantitative Information about Level 3 Fair Value Measurements as of March 31, 2022 Valuation Significant Range Fair Value Technique Unobservable Input (Weighted Average) Recurring fair value Corporate Bonds $ 6,215 Discounted cash flow Discount rate 5% (5%) Loans held at fair value 6,380 Discounted cash flow Discount rate 19 bps (19 bps) Guarantee asset 206 Discounted cash flow Discount rate 3% (3%) IRLC, net 990 Best execution model Pull through 67% to 100% (93%) Equity warrants 402 Black-Scholes option pricing model Volatility 24% to 37% (32%) Nonrecurring fair value Impaired loans (1) Commercial and Industrial 439 Sales comparison, Market approach - guideline transaction method Management discount for asset/property type 7% - 45% (38%) Quantitative Information about Level 3 Fair Value Measurements as of December 31, 2021 Valuation Significant Range Fair Value Technique Unobservable Input (Weighted Average) Recurring fair value Corporate Bonds $ 2,113 Discounted cash flow Discount rate 7% (7%) FSC (9) Internal pricing model Market Differential -14bps to -2 bps Guarantee asset 237 Discounted cash flow Discount rate 3% (3%) IRLC, net 1,473 Best execution model Pull through 71% to 100% (88%) Equity warrants 160 Black-Scholes option pricing model Volatility 24% to 37% (32%) Nonrecurring fair value Impaired loans (1) Commercial and Industrial 439 Sales comparison, Market approach - guideline transaction method Management discount for asset/property type 17% - 45% (39%) ______________________________________ (1) Estimated Fair Value of Other Financial Instruments The following presents carrying amounts and estimated fair values for financial instruments not carried at fair value as of the dates noted (dollars in thousands): Carrying Fair Value Measurements Using: March 31, 2022 Amount Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 454,099 $ 454,099 $ — $ — Loans, net 1,909,940 — — 1,902,433 Accrued interest receivable 6,969 2 299 6,668 Liabilities: Deposits 2,272,112 — 2,273,766 — Borrowings: FHLB borrowings – fixed rate 15,000 — 14,817 — Federal Reserve borrowings – fixed rate 12,576 — 12,576 — Subordinated notes – fixed-to-floating rate 32,523 — — 35,573 Accrued interest payable 312 — 130 182 Carrying Fair Value Measurements Using: December 31, 2021 Amount Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 386,983 $ 386,983 $ — $ — Loans, net 1,935,405 — — 1,919,625 Accrued interest receivable 7,151 2 203 6,946 Liabilities: Deposits 2,205,703 — 2,207,452 — Borrowings: FHLB borrowings – fixed rate 15,000 — 14,990 — Federal Reserve borrowings – fixed rate 23,629 — 23,629 — Subordinated notes – fixed-to-floating rate 39,031 — — 40,325 Accrued interest payable 355 — 156 199 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 condensed 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	3 Months Ended
SEGMENT REPORTING	Mar. 31, 2022
SEGMENT REPORTING
SEGMENT REPORTING	NOTE 15 - 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 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. The following presents the financial information for each segment that is specifically identifiable or based on allocations using internal methods as of or for the three months ended March 31, 2022 and 2021 (dollars in thousands): As of or for the three months ended March 31, 2022 Wealth Management Mortgage Consolidated Income Statement Total interest income $ 19,665 $ — $ 19,665 Total interest expense 1,381 — 1,381 Provision for loan losses 210 — 210 Net interest income, after provision for loan losses 18,074 — 18,074 Non-interest income 6,115 2,518 8,633 Total income before non-interest expense 24,189 2,518 26,707 Depreciation and amortization expense 548 12 560 Net (gain)/loss on assets held for sale (1) — (1) All other non-interest expense 16,631 2,201 18,832 Income before income taxes $ 7,011 $ 305 $ 7,316 Goodwill $ 30,400 $ — $ 30,400 Total assets 2,539,473 37,188 2,576,661 As of or for the three months ended March 31, 2021 Wealth Management Mortgage Consolidated Income Statement Total interest income $ 14,499 $ — $ 14,499 Total interest expense 1,446 — 1,446 Provision for loan losses — — — Net interest income, after provision for loan losses 13,053 — 13,053 Non-interest income 5,418 5,197 10,615 Total income before non-interest expense 18,471 5,197 23,668 Depreciation and amortization expense 258 14 272 All other non-interest expense 12,296 3,061 15,357 Income before income taxes $ 5,917 $ 2,122 $ 8,039 Goodwill $ 24,191 $ — $ 24,191 Total assets 2,025,720 185,858 2,211,578

LOW-INCOME HOUSING TAX CREDIT I

LOW-INCOME HOUSING TAX CREDIT INVESTMENT	3 Months Ended
LOW-INCOME HOUSING TAX CREDIT INVESTMENT	Mar. 31, 2022
LOW-INCOME HOUSING TAX CREDIT INVESTMENTS
LOW-INCOME HOUSING TAX CREDIT INVESTMENTS	NOTE 16 – LOW-INCOME HOUSING TAX CREDIT INVESTMENTS On December 19, 2019, the Company invested in a low-income housing tax credit ("LIHTC") investment. As of March 31, 2022 and December 31, 2021, the balance of the investment for LIHTC was $2.7 million and $2.6 million, respectively. These balances are reflected in the Other assets line item of the Condensed Consolidated Balance Sheets. There were no unfunded commitments related to the investment in the LIHTC as of March 31, 2022. As of December 31, 2021, total unfunded commitments were $0.2 million. The Company uses the proportional amortization method to account for this investment. During the three months ended March 31, 2022 and 2021, the Company recognized amortization expense of $0.1 million which was included within the Income tax expense line item of the Condensed Consolidated Statements of Income. Additionally, during the three months ended March 31, 2022 and 2021, the Company recognized $0.1 million of tax credits and other benefits from this investment in the LIHTC. During the three months ended March 31, 2022 and 2021, the Company did not incur any impairment losses.

REGULATORY CAPITAL MATTERS

REGULATORY CAPITAL MATTERS	3 Months Ended
REGULATORY CAPITAL MATTERS	Mar. 31, 2022
REGULATORY CAPITAL MATTERS
REGULATORY CAPITAL MATTERS	NOTE 17 - 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 condensed consolidated financial statements. Under capital adequacy guidelines and, additionally for banks, the regulatory framework for prompt corrective action, First Western and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. First Western and the Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators regarding components, risk weightings, and other factors. The final rules implementing Basel Committee on Banking Supervision’s capital guidelines for U.S. banks ("Basel III rules") has been fully phased in. The net unrealized gain or loss on available-for-sale securities is not included in computing regulatory capital. During the year ended December 31, 2021, First Western made a capital injection of $2.9 million into the Bank. Management believes as of March 31, 2022, 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 March 31, 2022, 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 March 31, 2022 and December 31, 2021, 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 March 31, 2022, 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 March 31, 2022 and December 31, 2021. The following presents the actual and required capital amounts and ratios as of dates noted (dollars in thousands): To be Well Capitalized Under Prompt Required for Capital Corrective Action Actual Adequacy Purposes (1) Regulations March 31, 2022 Amount Ratio Amount Ratio Amount Ratio Tier 1 capital to risk-weighted assets Bank $ 209,428 12.01 % $ 104,663 6.0 % $ 139,551 8.0 % Consolidated 194,605 11.11 N/A N/A N/A N/A CET1 to risk-weighted assets Bank 209,428 12.01 78,497 4.5 113,385 6.5 Consolidated 194,605 11.11 N/A N/A N/A N/A Total capital to risk-weighted assets Bank 223,664 12.82 139,551 8.0 174,439 10.0 Consolidated 241,841 13.81 N/A N/A N/A N/A Tier 1 capital to average assets Bank 209,428 8.27 101,264 4.0 126,581 5.0 Consolidated 194,605 7.67 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, 2021 Amount Ratio Amount Ratio Amount Ratio Tier 1 capital to risk-weighted assets Bank $ 203,164 11.40 % $ 106,945 6.0 % $ 142,594 8.0 % Consolidated 188,777 10.54 N/A N/A N/A N/A CET1 to risk-weighted assets Bank 203,164 11.40 80,209 4.5 115,858 6.5 Consolidated 188,777 10.54 N/A N/A N/A N/A Total capital to risk-weighted assets Bank 217,215 12.19 142,594 8.0 178,242 10.0 Consolidated 242,388 13.54 N/A N/A N/A N/A Tier 1 capital to average assets Bank 203,164 10.05 80,887 4.0 101,108 5.0 Consolidated 188,777 9.31 N/A N/A N/A N/A ______________________________________ (1)

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
SUBSEQUENT EVENTS	Mar. 31, 2022
SUBSEQUENT EVENTS.
SUBSEQUENT EVENTS	NOTE 18 – SUBSEQUENT EVENTS On April 1, 2022, the Company elected to transfer all securities classified as available for sale to held to maturity. The Company determined, based on strong liquidity and history of not selling securities, that the held to maturity classification more appropriately reflects management’s intent for the securities.

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2022
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, Laramie, Pinedale, and Rock Springs). 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, 2021 condensed consolidated balance sheet has been derived from the audited financial statements for the year ended December 31, 2021. 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 months ended March 31, 2022 are not necessarily indicative of results that may be expected for the full year ending December 31, 2022. 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, 2021 as filed with the SEC.
Consolidation	Consolidation
Business Combinations and Divestitures	Business Combinations and Divestitures
Use of Estimates	Use of Estimates
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 extended publication of the most commonly used U.S. Dollar LIBOR settings to June 30, 2023, and ceased 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 no longer originates LIBOR indexed loans. Existing LIBOR indexed commercial loans are expected to be transitioned to SOFR by June 30, 2022. Consumer indexed loans are being managed in accordance with Interagency Guidance.
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 4 – Loans and the Allowance for Loan Losses 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 March 31, 2022. See Note 4 – Loans and the Allowance for Loan Losses 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 4 – Loans and the Allowance for Loan Losses 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 2017, the FASB issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment 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 three months ended March 31, 2022, the CECL committee of the Company continued to work through its implementation plan. The Company has selected a champion quantitative model to approximate expected losses by call code segment using regional and other appropriate peers. The Company has selected qualitative factors and evaluated those factors for each loan segment for the quarter ended March, 31, 2022. The Company has begun to document policies and procedures, internal control structure, and process flows. Using this information, the Company successfully ran parallel models for the quarter in order for management to review and compare results between the initial CECL model and existing ALLL model. Currently, we are unable to estimate the impact the adoption of this update will have on the condensed 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.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	3 Months Ended
ACQUISITIONS (Tables)	Mar. 31, 2022
ACQUISITIONS
Estimated fair value of assets acquired and liabilities assumed	During the three months ended March 31, 2022, the Company finalized its application of purchase accounting. The following presents the final valuation of the assets acquired and liabilities assumed in the transaction with Teton as of December 31, 2021, including the measurement period adjustments to the provisional estimates (dollars in thousands): As of December 31, 2021 Provisional Measurement Period Acquired Fair value of consideration transferred Estimates Adjustments Balances Cash consideration $ 11,501 $ — $ 11,501 Common stock issued 39,818 — 39,818 Total fair value of consideration transferred 51,319 — 51,319 Assets acquired Cash and cash equivalents 132,498 — 132,498 Available-for-sale securities, at fair value 18,058 — 18,058 Correspondent bank stock, at cost 928 — 928 Mortgage loans held for sale 840 — 840 Loans 252,275 (857) 251,418 Premises and equipment 17,758 — 17,758 Accrued interest receivable 923 — 923 Accounts receivable 95 — 95 Other receivable 520 — 520 Core deposit intangible (1) 1,264 698 1,962 Other assets 226 242 468 Assets held for sale 115 5 120 Total assets acquired 425,500 88 425,588 Liabilities assumed Deposits 379,227 (29) 379,198 Accrued interest payable 26 — 26 Other liabilities 1,283 — 1,283 Deferred tax liabilities/(assets), net 42 (71) (29) Total liabilities assumed 380,578 (100) 380,478 Net assets acquired 44,922 188 45,110 Goodwill recognized $ 6,397 $ (188) $ 6,209 _____________________________________ (1) The core deposit intangible was determined to have an estimated life of 10 years .
Schedule of acquisition expenses within Non-interest expense	The following presents the acquisition expenses within Non-interest expense of the Condensed Consolidated Statements of Income as of the date noted (dollars in thousands): Three Months Ended March 31, 2022 Mergers and acquisitions expense: Salaries and employee benefits $ 229 Professional services 112 Marketing 70 Data processing 115 Other 1 Total mergers and acquisitions expense $ 527
Schedule of business acquisition, pro forma information	The following table presents pro forma information for the three months ended March 31, 2022 and 2021, as if the Teton Acquisition had occurred on January 1, 2021. This table has been prepared for comparative purposes only, and is not indicative of the actual results that would have been attained had the acquisitions occurred as of the beginning of the periods presented, nor is it indicative of future results (in thousands, except per share data): Pro Forma Three Months Ended March 31, 2022 2021 Net interest income after provision for loan losses $ 18,074 $ 16,456 Noninterest income 8,633 11,320 Net income 5,524 3,656 Pro forma earnings per share: Basic 0.59 0.39 Diluted 0.57 0.39

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	3 Months Ended
INVESTMENT SECURITIES (Tables)	Mar. 31, 2022
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 the dates noted (dollars in thousands): Gross Gross Amortized Unrealized Unrealized Fair March 31, 2022 Cost Gains Losses Value Investment securities available-for-sale: U.S. Treasury debt $ 250 $ — $ (11) $ 239 U.S. Government Agency 2,959 — (92) 2,867 Corporate bonds 17,110 142 (169) 17,083 GNMA mortgage-backed securities – residential 24,890 4 (1,352) 23,542 FNMA mortgage-backed securities – residential 13,779 3 (780) 13,002 Government CMO and MBS - commercial 672 — (14) 658 Corporate CMO and MBS 1,362 — (26) 1,336 Total securities available-for-sale $ 61,022 $ 149 $ (2,444) $ 58,727 Gross Gross Amortized Unrealized Unrealized Fair December 31, 2021 Cost Gains Losses Value Investment securities available-for-sale: U.S. Treasury debt $ 250 $ — $ (3) $ 247 U.S. Government Agency 3,522 — — 3,522 Corporate bonds 8,113 227 (15) 8,325 GNMA mortgage-backed securities – residential 26,611 185 (146) 26,650 FNMA mortgage-backed securities – residential 14,400 43 — 14,443 Government CMO and MBS - commercial 878 — — 878 Corporate CMO and MBS 1,492 23 (18) 1,497 Total securities available-for-sale $ 55,266 $ 478 $ (182) $ 55,562
Summary of the amortized cost and estimated fair value of available for sale securities, excluding SBIC with contractual maturity dates	Gross Amortized Fair March 31, 2022 Cost Value Due within one year $ 254 $ 252 Due between one year and five years 374 361 Due between five years and ten years 18,207 18,146 Due after ten years 1,484 1,430 Securities (CMO and MBS) 40,703 38,538 Total $ 61,022 $ 58,727
Summary of securities with unrealized losses aggregated by major security type and length of time in a continuous unrealized loss position	The following presents securities with unrealized losses aggregated by major security type and length of time in a continuous unrealized loss position as of the dates noted (dollars in thousands, before tax): Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized March 31, 2022 Value Losses Value Losses Value Losses U.S. Treasury debt $ 239 $ (11) $ — $ — $ 239 $ (11) U.S. Government Agency 2,867 (92) — — 2,867 (92) Corporate bonds 7,112 (138) 469 (31) 7,581 (169) GNMA mortgage-backed securities – residential 23,132 (1,352) — — 23,132 (1,352) FNMA mortgage-backed securities – residential 12,802 (780) — — 12,802 (780) Government CMO and MBS - commercial 658 (14) — — 658 (14) Corporate CMO and MBS 647 (4) 485 (22) 1,132 (26) Total $ 47,457 $ (2,391) $ 954 $ (53) $ 48,411 $ (2,444) Less than 12 Months 12 Months or Longer Total Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2021 Value Losses Value Losses Value Losses U.S. Treasury debt $ 247 $ (3) $ — $ — $ 247 $ (3) Corporate bonds 485 (15) — — 485 (15) GNMA mortgage-backed securities – residential 17,205 (146) — — 17,205 (146) Corporate CMO and MBS — — 521 (18) 521 (18) Total $ 17,937 $ (164) $ 521 $ (18) $ 18,458 $ (182)

LOANS AND THE ALLOWANCE FOR L_2

LOANS AND THE ALLOWANCE FOR LOAN LOSSES (Tables)	3 Months Ended
LOANS AND THE ALLOWANCE FOR LOAN LOSSES (Tables)	Mar. 31, 2022
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 (dollars in thousands): March 31, December 31, 2022 2021 Cash, Securities, and Other (1) $ 271,811 $ 295,948 Construction and Development 151,651 178,716 1-4 Family Residential 602,412 580,872 Non-Owner Occupied CRE 455,715 482,622 Owner Occupied CRE 212,401 212,426 Commercial and Industrial (2) 237,144 203,584 Total loans held for investment 1,931,134 1,954,168 Deferred fees and unamortized premiums/(unaccreted discounts), net (7,309) (5,031) Allowance for loan losses (13,885) (13,732) Loans, net $ 1,909,940 $ 1,935,405 ______________________________________ (1) 2022 and December 31, 2021, respectively. Includes (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, and unamortized premiums/(unaccreted discounts) which are not material) in loans past due as of the dates noted (dollars in thousands): 30-59 60-89 90 or Total Total Days Days More Days Loans Recorded March 31, 2022 Past Due Past Due Past Due Past Due Current Investment Cash, Securities and Other $ 321 $ 351 $ 36 $ 708 $ 271,103 $ 271,811 Construction and Development 2,069 — — 2,069 149,582 151,651 1-4 Family Residential 3,575 — — 3,575 598,837 602,412 Non-Owner Occupied CRE — 509 — 509 455,206 455,715 Owner Occupied CRE — — — — 212,401 212,401 Commercial and Industrial 11,145 — 2,190 13,335 223,809 237,144 Total $ 17,110 $ 860 $ 2,226 $ 20,196 $ 1,910,938 $ 1,931,134 30-59 60-89 90 or Total Total Days Days More Days Loans Recorded December 31, 2021 Past Due Past Due Past Due Past Due Current Investment Cash, Securities and Other $ 1,199 $ — $ 8 $ 1,207 $ 294,741 $ 295,948 Construction and Development 2,758 — — 2,758 175,958 178,716 1-4 Family Residential 1,449 — — 1,449 579,423 580,872 Non-Owner Occupied CRE — 2,548 — 2,548 480,074 482,622 Owner Occupied CRE 1,419 — — 1,419 211,007 212,426 Commercial and Industrial 748 — 2,200 2,948 200,636 203,584 Total $ 7,573 $ 2,548 $ 2,208 $ 12,329 $ 1,941,839 $ 1,954,168
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 (dollars in thousands): March 31, December 31, 2022 2021 Cash, Securities and Other $ 6 $ 8 1-4 Family Residential 72 75 Owner Occupied CRE 1,222 1,241 Commercial and Industrial 2,926 2,938 Total $ 4,226 $ 4,262
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 (dollars in thousands): March 31, December 31, 2022 2021 Accruing Non-Owner Occupied CRE $ 51 $ 55 Non-accrual Cash, Securities, and Other 4 6 1-4 Family Residential 72 75 Owner Occupied CRE 1,222 1,241 Commercial and Industrial 2,926 2,938 Total 4,275 4,315 Allowance for loan losses associated with TDR (1,751) (1,751) Net recorded investment $ 2,524 $ 2,564
Summary of impaired loans by portfolio and related valuation allowance	The following presents impaired loans by portfolio and related valuation allowance during the periods presented (dollars in thousands): March 31, 2022 December 31, 2021 Unpaid Allowance Unpaid Allowance Total Contractual for Total Contractual for Recorded Principal Loan Recorded Principal Loan Investment Balance Losses Investment Balance Losses Impaired loans with a valuation allowance: Cash, Securities, and Other $ 2 $ 2 $ 2 $ 2 $ 2 $ 2 Commercial and Industrial 2,190 2,190 1,751 2,190 2,190 1,751 Total $ 2,192 $ 2,192 $ 1,753 $ 2,192 $ 2,192 $ 1,753 Impaired loans with no related valuation allowance: Cash, Securities, and Other $ 4 $ 4 $ — $ 6 $ 6 $ — 1-4 Family Residential 72 72 — 75 75 — Owner Occupied CRE 1,222 1,222 — 1,241 1,241 — Commercial and Industrial 736 736 — 748 748 — Total $ 2,034 $ 2,034 $ — $ 2,070 $ 2,070 $ — Total impaired loans: Cash, Securities, and Other $ 6 $ 6 $ 2 $ 8 $ 8 $ 2 1-4 Family Residential 72 72 — 75 75 — Owner Occupied CRE 1,222 1,222 — 1,241 1,241 — Commercial and Industrial 2,926 2,926 1,751 2,938 2,938 1,751 Total $ 4,226 $ 4,226 $ 1,753 $ 4,262 $ 4,262 $ 1,753 The recorded investment in loans in the previous tables excludes accrued interest, deferred fees, and unamortized premiums/(unaccreted discounts), which are not material. Interest income, if any, was recognized on the cash basis on non-accrual loans. The following presents the average balance of impaired loans and interest income recognized on impaired loans during the periods presented (dollars in thousands): Three Months Ended March 31, 2022 2021 Average Interest Average Interest Recorded Income Recorded Income Investment Recognized Investment Recognized Impaired loans with a valuation allowance: Cash, Securities, and Other $ 2 $ — $ 3 $ — Commercial and Industrial 2,190 — 3,419 — Total $ 2,192 $ — $ 3,422 $ — Impaired loans with no related valuation allowance: Cash, Securities, and Other $ 5 $ — $ 34 $ — Owner Occupied CRE 1,231 — 479 — Commercial and Industrial 742 — 105 — 1-4 Family Residential 74 — — — Total $ 2,052 $ — $ 618 $ — Total impaired loans: Cash, Securities, and Other $ 7 $ — $ 37 $ — Owner Occupied CRE 1,231 — 479 — Commercial and Industrial 2,932 — 3,524 — 1-4 Family Residential 74 — — — Total $ 4,244 $ — $ 4,040 $ —
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 during the periods presented (dollars 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 March 31, 2022 Beginning balance $ 1,864 $ 1,092 $ 3,553 $ 2,952 $ 1,292 $ 2,979 $ 13,732 (Release)/provision for loan losses (84) (138) 236 (85) 36 245 210 Charge-offs (97) — — — — — (97) Recoveries 40 — — — — — 40 Ending balance $ 1,723 $ 954 $ 3,789 $ 2,867 $ 1,328 $ 3,224 $ 13,885 Allowance for loan losses as of March 31, 2022 allocated to loans evaluated for impairment: Individually $ 2 $ — $ — $ — $ — $ 1,751 $ 1,753 Collectively 1,721 954 3,789 2,867 1,328 1,473 12,132 Ending balance $ 1,723 $ 954 $ 3,789 $ 2,867 $ 1,328 $ 3,224 $ 13,885 Loans as of March 31, 2022: Individually evaluated for impairment $ 6 $ — $ 72 $ — $ 1,222 $ 2,926 $ 4,226 Collectively evaluated for impairment 265,425 151,651 602,340 455,715 211,179 234,218 1,920,528 Measured at fair value 6,380 — — — — — 6,380 Ending balance $ 271,811 $ 151,651 $ 602,412 $ 455,715 $ 212,401 $ 237,144 $ 1,931,134 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 March 31, 2021 Beginning balance $ 2,579 $ 932 $ 3,233 $ 2,004 $ 1,159 $ 2,632 $ 12,539 (Release)/provision for loan losses (6) (166) (81) 207 (36) 82 — Charge-offs — — — — — — — Recoveries — — — — — — — Ending balance $ 2,573 $ 766 $ 3,152 $ 2,211 $ 1,123 $ 2,714 $ 12,539 Allowance for loan losses as of December 31, 2021 allocated to loans evaluated for impairment: Individually $ 2 $ — $ — $ — $ — $ 1,751 $ 1,753 Collectively 1,862 1,092 3,553 2,952 1,292 1,228 11,979 Ending balance $ 1,864 $ 1,092 $ 3,553 $ 2,952 $ 1,292 $ 2,979 $ 13,732 Loans as of December 31, 2021: Individually evaluated for impairment $ 8 $ — $ 75 $ — $ 1,241 $ 2,938 $ 4,262 Collectively evaluated for impairment 295,940 178,716 580,797 482,622 211,185 200,646 1,949,906 Ending balance $ 295,948 $ 178,716 $ 580,872 $ 482,622 $ 212,426 $ 203,584 $ 1,954,168
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 the dates noted (dollars in thousands): Special March 31, 2022 Pass Mention Substandard Not Rated Total Cash, Securities and Other $ 265,425 $ — $ 6 $ 6,380 $ 271,811 Construction and Development 151,651 — — — 151,651 1-4 Family Residential 602,340 — 72 — 602,412 Non-Owner Occupied CRE 449,811 5,904 — — 455,715 Owner Occupied CRE 210,492 — 1,909 — 212,401 Commercial and Industrial 231,938 393 4,813 — 237,144 Total $ 1,911,657 $ 6,297 $ 6,800 $ 6,380 $ 1,931,134 Special December 31, 2021 Pass Mention Substandard Not Rated Total Cash, Securities and Other $ 295,940 $ — $ 8 $ — $ 295,948 Construction and Development 176,194 2,522 — — 178,716 1-4 Family Residential 580,797 — 75 — 580,872 Non-Owner Occupied CRE 476,670 5,952 — — 482,622 Owner Occupied CRE 210,493 — 1,933 — 212,426 Commercial and Industrial 198,368 401 4,815 — 203,584 Total $ 1,938,462 $ 8,875 $ 6,831 $ — $ 1,954,168

GOODWILL (Tables)

GOODWILL (Tables)	3 Months Ended
GOODWILL (Tables)	Mar. 31, 2022
Goodwill.
Schedule of changes in carrying amount of goodwill	The following presents changes in the carrying amount of goodwill as of the dates noted (dollars in thousands): March 31, December 31, 2022 2021 Beginning balance $ 30,588 $ 24,191 Acquisition activity (188) 6,397 Ending balance $ 30,400 $ 30,588

LEASES (Tables)

LEASES (Tables)	3 Months Ended
LEASES (Tables)	Mar. 31, 2022
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. The following presents the classification of the right-of-use assets and corresponding liabilities within the Condensed Consolidated Balance Sheets, as of the dates noted (dollars in thousands). March 31, December 31, 2022 2021 Lease Right-of-Use Assets Classification Operating lease right-of-use assets Other assets $ 10,071 $ 10,720 Lease Liabilities Classification Operating lease liabilities Other liabilities $ 13,090 $ 13,863
Schedule Of Weighted Average Lease Term And Discount Rate	March 31, December 31, 2022 2021 Weighted-Average Remaining Lease Term Operating leases 5.12 years 5.26 years Weighted-Average Discount Rate Operating leases 2.63 % 2.67 %
Lease Costs	The following presents the Company’s net lease costs during the periods presented (dollars in thousands): Three Months Ended March 31, 2022 2021 Lease Costs Operating lease cost $ 795 $ 752 Variable lease cost 558 412 Lease costs, net $ 1,353 $ 1,164
Schedule of Minimum Lease Payments Due	The following 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 the date noted (dollars in thousands): Year Ending December 31, Operating Leases 2022 (1) $ 2,601 2023 3,210 2024 3,064 2025 2,073 2026 703 Thereafter 2,168 Total future minimum lease payments 13,819 Less: imputed interest (729) Present value of net future minimum lease payments $ 13,090 ________________________________________ (1)
Summary of maturity analysis of the Company's operating payments to be received	Year Ending December 31, Undiscounted Operating Lease Income 2022 (1) $ 205 2023 221 2024 199 2025 — 2026 — Thereafter — Total undiscounted operating lease income $ 625 ________________________________________ (1)

DEPOSITS (Tables)

DEPOSITS (Tables)	3 Months Ended
DEPOSITS (Tables)	Mar. 31, 2022
DEPOSITS
Schedule of interest bearing deposits	The following presents the Company’s interest-bearing deposits as of the dates noted (dollars in thousands): March 31, December 31, 2022 2021 Money market deposit accounts $ 1,108,315 $ 1,056,669 Time deposits 156,678 170,491 Negotiable order of withdrawal accounts 319,648 309,940 Savings accounts 33,070 32,299 Total interest-bearing deposits $ 1,617,711 $ 1,569,399 Aggregate time deposits of $250 or greater $ 73,602 $ 75,747
Schedule Of Time Deposit Maturities	The following presents the scheduled maturities of all time deposits for the next five years ending March 31 (dollars in thousands): Time Deposits 2022 (1) $ 89,023 2023 36,661 2024 6,382 2025 2,590 2026 17,137 Thereafter 4,885 Total $ 156,678 ________________________________________ (1)

BORROWINGS (Tables)

BORROWINGS (Tables)	3 Months Ended
BORROWINGS (Tables)	Mar. 31, 2022
BORROWINGS
Schedule of borrowings from FHLB Topeka	The following presents the Company’s required maturities on FHLB borrowings as of the dates noted (dollars in thousands): March 31, December 31, Maturity Date Rate % 2022 2021 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)	3 Months Ended
COMMITMENTS AND CONTINGENCIES (Tables)	Mar. 31, 2022
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 (dollars in thousands): March 31, 2022 December 31, 2021 Fixed Rate Variable Rate Fixed Rate Variable Rate Unused lines of credit $ 118,953 $ 509,677 $ 136,289 $ 442,035 Standby letters of credit 5,696 22,035 2,420 20,940 Commitments to make loans to sell 79,178 — 60,529 — Commitments to make loans 46,354 12,626 16,256 14,920

SHAREHOLDERS EQUITY (Tables)

SHAREHOLDERS EQUITY (Tables)	3 Months Ended
SHAREHOLDERS EQUITY (Tables)	Mar. 31, 2022
SHAREHOLDERS EQUITY
Schedule of summarizes activity for nonqualified stock options	The following presents activity for nonqualified stock options during the three months ended March 31, 2022: Weighted Weighted Average Number Average Remaining Aggregate of Exercise Contractual Intrinsic Options Price Term Value Outstanding as of December 31, 2021 308,574 $ 29.21 Granted — — Exercised (2,511) 23.01 Forfeited or expired (116,100) 40.00 Outstanding as of March 31, 2022 189,963 22.70 2.8 (1) Options fully vested / exercisable as of March 31, 2022 189,963 22.70 2.8 (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, 2021 249,821 183,483 13,746 Granted — — — Vested (414) (12,100) — Forfeited (1,967) (671) — Outstanding as of March 31, 2022 247,440 170,712 13,746
Schedule of financial performance units activity	The following presents the Company’s existing Financial Performance Units as of March 31, 2022 (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 May 1, 2019 through April 30, 2020 150% 80,255 $ 292 1.8 years December 31, 2021 December 31, 2023 May 1, 2020 through December 31, 2020, excluding November 18, 2020 150% 81,099 400 2.8 years December 31, 2022 December 31, 2023 On November 18, 2020 150% 34,752 313 2.6 years December 31, 2022 50% November 18, 2023 & 2025 May 3, 2021 through August 11, 2021 150% 59,963 840 3.8 years December 31, 2023 December 31, 2025 ______________________________________ (1) The following presents the Company’s Financial Performance Units activity for the three months ended March 31 (dollars in thousands, except share amounts): Units Granted Compensation Expense Recognized Grant Period 2022 2021 2022 2021 Prior to May 1, 2019 — — $ — $ 15 May 1, 2019 through April 30, 2020 — — 61 56 May 1, 2020 through December 31, 2020, excluding November 18, 2020 — — 53 55 On November 18, 2020 — 30 34 May 3, 2021 through August 11, 2021 — — 81 —

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	3 Months Ended
EARNINGS PER COMMON SHARE (Tables)	Mar. 31, 2022
EARNINGS PER COMMON SHARE
Schedule of basic and diluted earnings per share	The following presents the calculation of basic and diluted earnings per common share during the periods presented (dollars in thousands, except share and per share amounts): Three Months Ended March 31, 2022 2021 Earnings per common share - Basic Numerator: Net income available for common shareholders $ 5,524 $ 5,999 Denominator: Basic weighted average shares 9,418,318 7,935,664 Earnings per common share - basic $ 0.59 $ 0.76 Earnings per common share - Diluted Numerator: Net income available for common shareholders $ 5,524 $ 5,999 Denominator: Basic weighted average shares 9,418,318 7,935,664 Diluted effect of common stock equivalents: Stock options 57,139 4,923 Time Vesting Units 189,538 102,530 Financial Performance Units 83,954 46,289 Market Performance Units 13,653 14,197 Total diluted effect of common stock equivalents 344,284 167,939 Diluted weighted average shares 9,762,602 8,103,603 Earnings per common share - diluted $ 0.57 $ 0.74
Schedule of Antidilutive securities	Three Months Ended March 31, 2022 2021 Stock options — 278,109 Time Vesting Units — 3,982 Financial Performance Units — 23,168 Restricted Stock Awards — 21,054 Total potentially dilutive securities — 326,313

RELATED-PARTY TRANSACTIONS (Tab

RELATED-PARTY TRANSACTIONS (Tables)	3 Months Ended
RELATED-PARTY TRANSACTIONS (Tables)	Mar. 31, 2022
RELATED-PARTY TRANSACTIONS
Summary of related-party loan activity	The following presents a summary of related-party loan activity as of the dates noted (dollars in thousands): March 31, 2022 December 31, 2021 Balance, beginning of year $ 12,833 $ 14,321 Funded loans 2,284 11,294 Payments collected (3,063) (12,782) Balance, end of period $ 12,054 $ 12,833

FAIR VALUE (Tables)

FAIR VALUE (Tables)	3 Months Ended
FAIR VALUE (Tables)	Mar. 31, 2022
FAIR VALUE
Schedule of fair value assets and liabilities measured on recurring basis	The following presents assets and liabilities measured on a recurring basis as of the dates noted (dollars in thousands): Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Assets Inputs Inputs Reported March 31, 2022 (Level 1) (Level 2) (Level 3) Balance Investment securities available-for-sale: U.S. Treasury debt $ 239 $ — $ — $ 239 U.S. Government Agency — 2,867 — 2,867 Corporate bonds — 10,868 6,215 17,083 GNMA mortgage-backed securities - residential — 23,542 — 23,542 FNMA mortgage-backed securities - residential — 13,002 — 13,002 Government CMO and MBS — 658 — 658 Corporate CMO and MBS — 1,336 — 1,336 Total securities available-for-sale $ 239 $ 52,273 $ 6,215 $ 58,727 Mortgage loans held for sale $ — $ 33,663 $ — $ 33,663 Loans held at fair value $ — $ — $ 6,380 $ 6,380 Forward commitments and FSC $ — $ 1,478 $ — $ 1,478 Equity securities $ 676 $ 122 $ — $ 798 Guarantee asset $ — $ — $ 206 $ 206 IRLC, net $ — $ — $ 990 $ 990 Equity warrants $ — $ — $ 402 $ 402 Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Assets Inputs Inputs Reported December 31, 2021 (Level 1) (Level 2) (Level 3) Balance Investment securities available-for-sale: U.S. Treasury debt $ 247 $ — $ — $ 247 U.S. Government Agency — 3,522 — 3,522 Corporate bonds — 6,212 2,113 8,325 GNMA mortgage-backed securities - residential — 26,650 — 26,650 FNMA mortgage-backed securities - residential — 14,443 — 14,443 Government CMO and MBS — 878 — 878 Corporate CMO and MBS — 1,497 — 1,497 Total securities available-for-sale $ 247 $ 53,202 $ 2,113 $ 55,562 Mortgage loans held for sale $ — $ 30,620 $ — $ 30,620 Forward commitments and FSC $ — $ (65) $ (9) $ (74) Equity securities $ 709 $ 489 $ — $ 1,198 Guarantee asset $ — $ — $ 237 $ 237 IRLC, net $ — $ — $ 1,473 $ 1,473 Equity warrants $ — $ — $ 160 $ 160
Schedule of loans measured at fair value under fair value option	March 31, 2022 Total Loans Non Accruals 90 Days or More Past Due Fair Value Carrying Amount Unpaid Principal Balance Difference Fair Value Carrying Amount Unpaid Principal Balance Difference Fair Value Carrying Amount Unpaid Principal Balance Difference Loans held for sale $ 33,663 $ 33,713 $ (50) $ — $ — $ — $ — $ — $ — Loans held for investment 6,380 6,368 12 — — — — — — $ 40,043 $ 40,081 $ (38) $ — $ — $ — $ — $ — $ — December 31, 2021 Total Loans Non Accruals 90 Days or More Past Due Fair Value Carrying Amount Unpaid Principal Balance Difference Fair Value Carrying Amount Unpaid Principal Balance Difference Fair Value Carrying Amount Unpaid Principal Balance Difference Loans held for sale $ 30,620 $ 29,857 $ 763 $ — $ — $ — $ — $ — $ — Loans held for investment — — — — — — — — — $ 30,620 $ 29,857 $ 763 $ — $ — $ — $ — $ — $ —
Schedule of gain or loss on fair value of loans	Three Months Ended March 31, 2022 2021 Loans held for sale $ (1,911) $ 125 Loans held for investment — — $ (1,911) $ 125
Summary of activity pertaining to loans under fair value option	Three Months Ended March 31, Loans held for sale 2022 2021 Balance at beginning of period $ 30,620 $ 161,843 Loans originated 191,081 525,814 Loans acquired — — Fair value changes 667 5,969 Sales (188,666) (514,556) Settlements (39) (2,426) Balance at end of period $ 33,663 $ 176,644 Three Months Ended March 31, Loans held for investment 2022 2021 Balance at beginning of period $ — $ — Loans originated — — Loans acquired 6,380 — Fair value changes — — Sales — — Settlements — — Balance at end of period $ 6,380 $ —
Summary of assets measured at fair value on nonrecurring basis	The following presents assets measured on a nonrecurring basis as of the dates noted (dollars in thousands): Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Assets Inputs Inputs Reported March 31, 2022 (Level 1) (Level 2) (Level 3) Balance Impaired loans (1) Commercial and Industrial $ — $ — $ 439 $ 439 Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Assets Inputs Inputs Reported December 31, 2021 (Level 1) (Level 2) (Level 3) Balance Impaired loans (1) Commercial and Industrial $ — $ — $ 439 $ 439 ______________________________________ (1)
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 as of the dates noted (dollars in thousands): Three Months Ended March 31, 2022 Corporate Bonds Loans Held at Fair Value FSC Guarantee Asset IRLC Equity Warrants Beginning balance $ 2,113 $ 6,380 $ (9) $ 237 $ 1,473 $ 160 Acquisitions 4,000 — 9 — 1,614 242 Originations — — — — (1,354) — Losses in net income, net — — — (31) (743) — Unrealized gains, net 102 — — — — — Ending balance $ 6,215 $ 6,380 $ — $ 206 $ 990 $ 402 Three Months Ended March 31, 2021 Corporate Bonds Loans Held at Fair Value FSC Guarantee Asset IRLC Equity Warrants Beginning balance $ — $ — $ (89) $ 232 $ 9,841 $ — Acquisitions — — — — 2,684 — Originations — — — — (7,016) — Losses in net income, net — — (84) (44) (3,404) — Unrealized gains/(losses), net — — — — — — Ending balance $ — $ — $ (173) $ 188 $ 2,105 $ —
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 and nonrecurring basis as of the dates noted (dollars in thousands): Quantitative Information about Level 3 Fair Value Measurements as of March 31, 2022 Valuation Significant Range Fair Value Technique Unobservable Input (Weighted Average) Recurring fair value Corporate Bonds $ 6,215 Discounted cash flow Discount rate 5% (5%) Loans held at fair value 6,380 Discounted cash flow Discount rate 19 bps (19 bps) Guarantee asset 206 Discounted cash flow Discount rate 3% (3%) IRLC, net 990 Best execution model Pull through 67% to 100% (93%) Equity warrants 402 Black-Scholes option pricing model Volatility 24% to 37% (32%) Nonrecurring fair value Impaired loans (1) Commercial and Industrial 439 Sales comparison, Market approach - guideline transaction method Management discount for asset/property type 7% - 45% (38%) Quantitative Information about Level 3 Fair Value Measurements as of December 31, 2021 Valuation Significant Range Fair Value Technique Unobservable Input (Weighted Average) Recurring fair value Corporate Bonds $ 2,113 Discounted cash flow Discount rate 7% (7%) FSC (9) Internal pricing model Market Differential -14bps to -2 bps Guarantee asset 237 Discounted cash flow Discount rate 3% (3%) IRLC, net 1,473 Best execution model Pull through 71% to 100% (88%) Equity warrants 160 Black-Scholes option pricing model Volatility 24% to 37% (32%) Nonrecurring fair value Impaired loans (1) Commercial and Industrial 439 Sales comparison, Market approach - guideline transaction method Management discount for asset/property type 17% - 45% (39%)
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 the dates noted (dollars in thousands): Carrying Fair Value Measurements Using: March 31, 2022 Amount Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 454,099 $ 454,099 $ — $ — Loans, net 1,909,940 — — 1,902,433 Accrued interest receivable 6,969 2 299 6,668 Liabilities: Deposits 2,272,112 — 2,273,766 — Borrowings: FHLB borrowings – fixed rate 15,000 — 14,817 — Federal Reserve borrowings – fixed rate 12,576 — 12,576 — Subordinated notes – fixed-to-floating rate 32,523 — — 35,573 Accrued interest payable 312 — 130 182 Carrying Fair Value Measurements Using: December 31, 2021 Amount Level 1 Level 2 Level 3 Assets: Cash and cash equivalents $ 386,983 $ 386,983 $ — $ — Loans, net 1,935,405 — — 1,919,625 Accrued interest receivable 7,151 2 203 6,946 Liabilities: Deposits 2,205,703 — 2,207,452 — Borrowings: FHLB borrowings – fixed rate 15,000 — 14,990 — Federal Reserve borrowings – fixed rate 23,629 — 23,629 — Subordinated notes – fixed-to-floating rate 39,031 — — 40,325 Accrued interest payable 355 — 156 199

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	3 Months Ended
SEGMENT REPORTING (Tables)	Mar. 31, 2022
SEGMENT REPORTING
Schedule of segment data	The following presents the financial information for each segment that is specifically identifiable or based on allocations using internal methods as of or for the three months ended March 31, 2022 and 2021 (dollars in thousands): As of or for the three months ended March 31, 2022 Wealth Management Mortgage Consolidated Income Statement Total interest income $ 19,665 $ — $ 19,665 Total interest expense 1,381 — 1,381 Provision for loan losses 210 — 210 Net interest income, after provision for loan losses 18,074 — 18,074 Non-interest income 6,115 2,518 8,633 Total income before non-interest expense 24,189 2,518 26,707 Depreciation and amortization expense 548 12 560 Net (gain)/loss on assets held for sale (1) — (1) All other non-interest expense 16,631 2,201 18,832 Income before income taxes $ 7,011 $ 305 $ 7,316 Goodwill $ 30,400 $ — $ 30,400 Total assets 2,539,473 37,188 2,576,661 As of or for the three months ended March 31, 2021 Wealth Management Mortgage Consolidated Income Statement Total interest income $ 14,499 $ — $ 14,499 Total interest expense 1,446 — 1,446 Provision for loan losses — — — Net interest income, after provision for loan losses 13,053 — 13,053 Non-interest income 5,418 5,197 10,615 Total income before non-interest expense 18,471 5,197 23,668 Depreciation and amortization expense 258 14 272 All other non-interest expense 12,296 3,061 15,357 Income before income taxes $ 5,917 $ 2,122 $ 8,039 Goodwill $ 24,191 $ — $ 24,191 Total assets 2,025,720 185,858 2,211,578

REGULATORY CAPITAL MATTERS (Tab

REGULATORY CAPITAL MATTERS (Tables)	3 Months Ended
REGULATORY CAPITAL MATTERS (Tables)	Mar. 31, 2022
REGULATORY CAPITAL MATTERS
Schedule of actual and required capital ratios	The following presents the actual and required capital amounts and ratios as of dates noted (dollars in thousands): To be Well Capitalized Under Prompt Required for Capital Corrective Action Actual Adequacy Purposes (1) Regulations March 31, 2022 Amount Ratio Amount Ratio Amount Ratio Tier 1 capital to risk-weighted assets Bank $ 209,428 12.01 % $ 104,663 6.0 % $ 139,551 8.0 % Consolidated 194,605 11.11 N/A N/A N/A N/A CET1 to risk-weighted assets Bank 209,428 12.01 78,497 4.5 113,385 6.5 Consolidated 194,605 11.11 N/A N/A N/A N/A Total capital to risk-weighted assets Bank 223,664 12.82 139,551 8.0 174,439 10.0 Consolidated 241,841 13.81 N/A N/A N/A N/A Tier 1 capital to average assets Bank 209,428 8.27 101,264 4.0 126,581 5.0 Consolidated 194,605 7.67 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, 2021 Amount Ratio Amount Ratio Amount Ratio Tier 1 capital to risk-weighted assets Bank $ 203,164 11.40 % $ 106,945 6.0 % $ 142,594 8.0 % Consolidated 188,777 10.54 N/A N/A N/A N/A CET1 to risk-weighted assets Bank 203,164 11.40 80,209 4.5 115,858 6.5 Consolidated 188,777 10.54 N/A N/A N/A N/A Total capital to risk-weighted assets Bank 217,215 12.19 142,594 8.0 178,242 10.0 Consolidated 242,388 13.54 N/A N/A N/A N/A Tier 1 capital to average assets Bank 203,164 10.05 80,887 4.0 101,108 5.0 Consolidated 188,777 9.31 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	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Collateral concentration risk \| Loan portfolio \| Real estate
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Concentration risk (as a percent)	74.30%	76.10%
Teton Financial Services
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Total assets acquired		$ 425,588

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
ACQUISITIONS - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill	$ 30,400	$ 30,588	$ 24,191	$ 24,191
Acquisition cost	$ 500
Teton Financial Services
Business Acquisition [Line Items]
Purchase consideration		51,319
Goodwill		$ 6,209

ACQUISITIONS - Fair Value (Deta

ACQUISITIONS - Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Liabilities assumed
Goodwill	$ 30,400	$ 30,588	$ 24,191	$ 24,191
Total loans held for investment	1,931,134	1,954,168
Acquisition cost	500
Cash, Securities and Other
Liabilities assumed
Total loans held for investment	271,811	295,948
Construction and Development
Liabilities assumed
Total loans held for investment	151,651	178,716
1-4 Family Residential
Liabilities assumed
Total loans held for investment	602,412	580,872
Non-Owner Occupied CRE
Liabilities assumed
Total loans held for investment	455,715	482,622
Owner Occupied CRE
Liabilities assumed
Total loans held for investment	212,401	212,426
Commercial. and Industrial.
Liabilities assumed
Total loans held for investment	237,144	203,584
PPP Loans
Liabilities assumed
Total loans held for investment	16,700	46,800
Simmons Bank
Liabilities assumed
Total loans held for investment	$ 323,600	356,700
Teton Financial Services
Business Acquisition [Line Items]
Cash consideration		11,501
Common stock issued		39,818
Total fair value of consideration transferred		51,319
Assets acquired
Cash and cash equivalents		132,498
Available-for-sale securities, at fair value		18,058
Coorespondant bank stock, at cost		928
Mortgage loans held for sale		840
Loans, net		251,418
Premises and equipment		17,758
Accrued interest receivable		923
Accounts receivable		95
Other receivable		520
Core deposit intangible		1,962
Other assets		468
Assets held for sale		120
Total assets acquired		425,588
Liabilities assumed
Deposits		379,198
Accrued interest payable		26
Other liabilities		1,283
Deferred tax liabilities/(assets), net		(29)
Total liabilities assumed		380,478
Net assets acquired		45,110
Goodwill		6,209
Teton Financial Services \| Provisional Estimates
Business Acquisition [Line Items]
Cash consideration		11,501
Common stock issued		39,818
Total fair value of consideration transferred		51,319
Assets acquired
Cash and cash equivalents		132,498
Available-for-sale securities, at fair value		18,058
Coorespondant bank stock, at cost		928
Mortgage loans held for sale		840
Loans, net		252,275
Premises and equipment		17,758
Accrued interest receivable		923
Accounts receivable		95
Other receivable		520
Core deposit intangible		1,264
Other assets		226
Assets held for sale		115
Total assets acquired		425,500
Liabilities assumed
Deposits		379,227
Accrued interest payable		26
Other liabilities		1,283
Deferred tax liabilities/(assets), net		42
Total liabilities assumed		380,578
Net assets acquired		44,922
Goodwill		6,397
Teton Financial Services \| Measurement Period Adjustments
Assets acquired
Loans, net		(857)
Core deposit intangible		698
Other assets		242
Assets held for sale		5
Total assets acquired		88
Liabilities assumed
Deposits		(29)
Deferred tax liabilities/(assets), net		(71)
Total liabilities assumed		(100)
Net assets acquired		188
Goodwill		$ (188)
Core deposit
Liabilities assumed
Estimated life	10 years

ACQUISITIONS - Acquisition expe

ACQUISITIONS - Acquisition expenses (Details) $ in Thousands	Mar. 31, 2022USD ($)
Business Acquisition [Line Items]
Total mergers and acquisitions expense	$ 527
Salaries and employee benefits
Business Acquisition [Line Items]
Total mergers and acquisitions expense	229
Professional services
Business Acquisition [Line Items]
Total mergers and acquisitions expense	112
Marketing
Business Acquisition [Line Items]
Total mergers and acquisitions expense	70
Data processing
Business Acquisition [Line Items]
Total mergers and acquisitions expense	115
Other.
Business Acquisition [Line Items]
Total mergers and acquisitions expense	$ 1

ACQUISITIONS - Pro forma inform

ACQUISITIONS - Pro forma information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
ACQUISITIONS
Net interest income after provision for loan losses	$ 18,074	$ 16,456
Noninterest income	8,633	11,320
Net income	$ 5,524	$ 3,656
Pro forma earnings per share, Basic	$ 0.59	$ 0.39
Pro forma earnings per share, Diluted	$ 0.57	$ 0.39

INVESTMENT SECURITIES - Amortiz

INVESTMENT SECURITIES - Amortized cost and fair value of securities available-for-sale (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 61,022	$ 55,266
Gross Unrealized Gains	149	478
Gross Unrealized Losses	(2,444)	(182)
Fair Value	58,727	55,562
U.S. Treasury debt
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	250	250
Gross Unrealized Losses	(11)	(3)
Fair Value	239	247
U.S. Government Agency
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,959	3,522
Gross Unrealized Losses	(92)
Fair Value	2,867	3,522
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	17,110	8,113
Gross Unrealized Gains	142	227
Gross Unrealized Losses	(169)	(15)
Fair Value	17,083	8,325
Government National Mortgage Association ("GNMA") mortgage-backed securities - residential
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	24,890	26,611
Gross Unrealized Gains	4	185
Gross Unrealized Losses	(1,352)	(146)
Fair Value	23,542	26,650
Federal National Mortgage Association ("FNMA") mortgage-backed securities - residential
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	13,779	14,400
Gross Unrealized Gains	3	43
Gross Unrealized Losses	(780)
Fair Value	13,002	14,443
Government CMO and MBS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	672	878
Gross Unrealized Losses	(14)
Fair Value	658	878
Corporate CMO and MBS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,362	1,492
Gross Unrealized Gains		23
Gross Unrealized Losses	(26)	(18)
Fair Value	1,336	1,497
Bank Technology Fund [Member]
Debt Securities, Available-for-sale [Line Items]
Payments To Partnership Fund	400
Investment balance included in other assets	400
Contractual Obligation	3,000
Potential Future Contribution Obligation	2,500
Small Business Investment Company ("SBIC")
Debt Securities, Available-for-sale [Line Items]
Contractual Obligation	1,000
Return of capital, received	100	100
Other Assets [Member] \| Small Business Investment Company ("SBIC")
Debt Securities, Available-for-sale [Line Items]
Investment balance included in other assets	$ 2,000	$ 2,000

INVESTMENT SECURITIES - Amort_2

INVESTMENT SECURITIES - Amortized cost and estimated fair value of available-for-sale securities excluding SBIC (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022USD ($)security	Dec. 31, 2021USD ($)security
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 61,022	$ 55,266
Fair Value	58,727	55,562
Debt available for sale securities pledged as collateral	$ 15,200	$ 17,300
Threshold Percentage Of Shareholders Equity Amount Held As Securities By One Issuer	10.00%	10.00%
Unrealized loss	$ 2,444	$ 182
Available for sale securities, excluding SBIC
Debt Securities, Available-for-sale [Line Items]
Due within one year amortized cost	254
Due between one year and five years amortized cost	374
Due between five years and ten years amortized cost	18,207
Due after ten years, amortized cost	1,484
Securities (CMO and MBS), amortized cost	40,703
Amortized Cost	61,022
Due within one year fair value	252
Due between one year and five years fair value	361
Due between five years and ten years fair value	18,146
Due after ten years, fair value	1,430
Securities (CMO and MBS), fair value	38,538
Fair Value	$ 58,727
Number of securities in unrealized loss position \| security	90	10
Number of securities in continuous unrealized loss position for more than twelve months \| security	2

INVESTMENT SECURITIES - Securit

INVESTMENT SECURITIES - Securities with unrealized losses (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	$ 47,457	$ 17,937
Less than 12 months, Unrealized Losses	(2,391)	(164)
12 months or Longer, Fair Value	954	521
12 months or Longer, Unrealized Losses	(53)	(18)
Total Fair Value	48,411	18,458
Total Unrealized Losses	(2,444)	(182)
U.S. Treasury debt
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	239	247
Less than 12 months, Unrealized Losses	(11)	(3)
Total Fair Value	239	247
Total Unrealized Losses	(11)	(3)
U.S. Government Agency
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	2,867
Less than 12 months, Unrealized Losses	(92)
Total Fair Value	2,867
Total Unrealized Losses	(92)
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	7,112	485
Less than 12 months, Unrealized Losses	(138)	(15)
12 months or Longer, Fair Value	469
12 months or Longer, Unrealized Losses	(31)
Total Fair Value	7,581	485
Total Unrealized Losses	(169)	(15)
Government National Mortgage Association ("GNMA") mortgage-backed securities - residential
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	23,132	17,205
Less than 12 months, Unrealized Losses	(1,352)	(146)
Total Fair Value	23,132	17,205
Total Unrealized Losses	(1,352)	(146)
Federal National Mortgage Association ("FNMA") mortgage-backed securities - residential
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	12,802
Less than 12 months, Unrealized Losses	(780)
Total Fair Value	12,802
Total Unrealized Losses	(780)
Government CMO and MBS
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	658
Less than 12 months, Unrealized Losses	(14)
Total Fair Value	658
Total Unrealized Losses	(14)
Corporate CMO and MBS
Debt Securities, Available-for-sale [Line Items]
Less than 12 months, Fair Value	647
Less than 12 months, Unrealized Losses	(4)
12 months or Longer, Fair Value	485	521
12 months or Longer, Unrealized Losses	(22)	(18)
Total Fair Value	1,132	521
Total Unrealized Losses	$ (26)	$ (18)

LOANS AND THE ALLOWANCE FOR L_3

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Summary of loans (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022USD ($)loan	Dec. 31, 2021USD ($)loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	$ 1,931,134	$ 1,954,168
Deferred fees and unamortized premiums/(unaccreted discounts), net	(7,309)	(5,031)
Allowance for loan losses	(13,885)	(13,732)
Loans, net	1,909,940	1,935,405
Loan measured at fair value	6,380	0
Simmons Bank
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	323,600	356,700
Cash, Securities and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan measured at fair value	6,400	0
Cash, Securities and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	271,811	295,948
Loan measured at fair value	6,400
Construction and Development
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	151,651	178,716
1-4 Family Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	602,412	580,872
Non-Owner Occupied CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	455,715	482,622
Owner Occupied CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	212,401	212,426
Commercial. and Industrial.
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	237,144	203,584
PPP Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	16,700	46,800
PPP Loans \| Cash, Securities and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	$ 16,700	$ 46,800
Percent of Loans on Total Loan Segment	6.10%	15.80%
MSLP loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans held for investment	$ 6,800	$ 6,800
COVID-19 \| MSLP loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans, net	$ 6,800	$ 6,800
Percent of Loans on Total Loan Segment	2.90%	3.30%
Number of loans \| loan	5	5

LOANS AND THE ALLOWANCE FOR L_4

LOANS AND THE ALLOWANCE FOR LOAN LOSSES -Loan Modifications (Details) - COVID-19 $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Delinquent over period	30 days
Payments Period	2 years
Number of Loans Modified \| loan	69
Outstanding Balance of Modified Loans \| $	$ 109.8
Loans modified for temporary payment	180 days
Number of loans modified \| loan	18
Loan deferral amount \| $	$ 8.3

LOANS AND THE ALLOWANCE FOR L_5

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Aging analysis of recorded investments by class (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022USD ($)loan	Dec. 31, 2021USD ($)loan
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	$ 20,196	$ 12,329
Current	1,910,938	1,941,839
Total Recorded Investment	1,931,134	1,954,168
30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	17,110	7,573
60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	860	2,548
90 or More Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	2,226	2,208
Cash, Securities and Other
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	708	1,207
Current	271,103	294,741
Total Recorded Investment	271,811	295,948
Cash, Securities and Other \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	321	1,199
Cash, Securities and Other \| 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	351
Cash, Securities and Other \| 90 or More Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	36	8
Construction and Development
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	2,069	2,758
Current	149,582	175,958
Total Recorded Investment	151,651	178,716
Construction and Development \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	2,069	2,758
1-4 Family Residential
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	3,575	1,449
Current	598,837	579,423
Total Recorded Investment	602,412	580,872
1-4 Family Residential \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	3,575	1,449
Non-Owner Occupied CRE
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	509	2,548
Current	455,206	480,074
Total Recorded Investment	455,715	482,622
Non-Owner Occupied CRE \| 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	509	2,548
Owner Occupied CRE
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due		1,419
Current	212,401	211,007
Total Recorded Investment	212,401	212,426
Owner Occupied CRE \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due		1,419
Commercial. and Industrial.
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	13,335	2,948
Current	223,809	200,636
Total Recorded Investment	$ 237,144	$ 203,584
Number of loans, 90 days delinquent and accruing interest \| loan	11	1
Commercial. and Industrial. \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	$ 11,145	$ 748
Commercial. and Industrial. \| 90 or More Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total past due	$ 2,190	$ 2,200

LOANS AND THE ALLOWANCE FOR L_6

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Recorded investment in non-accrual loans by class (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)loan	Mar. 31, 2022USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans	$ 4,262	$ 4,226
Number of loans classified as TDRs \| loan	3
Recorded investments	$ 4,300	4,200
Cash, Securities and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans	8	6
1-4 Family Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans	75	72
Owner Occupied CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans	1,241	1,222
Commercial. and Industrial.
Accounts, Notes, Loans and Financing Receivable [Line Items]
Non-accrual loans	$ 2,938	$ 2,926

LOANS AND THE ALLOWANCE FOR L_7

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Summary of unpaid principal balance of loans classified as TDRs (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment	$ 4,226	$ 4,262
Allowance for loan associated with TDR	(1,753)	(1,753)
Net recorded investment	2,524	2,564
Additional funds to loans classified as TDRs	$ 0	$ 0
Modified Loan Maturity Period	1 year
Number of loans classified as TDRs \| loan		3
Recorded investments	$ 4,200	$ 4,300
Interest only payment period for modified loans		6 months
Cash, Securities and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment	6	$ 8
Allowance for loan associated with TDR	(2)	(2)
1-4 Family Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment	72	75
Owner Occupied CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment	1,222	1,241
Commercial. and Industrial.
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment	2,926	2,938
Allowance for loan associated with TDR	(1,751)	(1,751)
Allowance for loan losses associated with TDR	(1,751)	(1,751)
Small Mortgage Loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded investments		100
Commercial and Real Estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded investments		1,200
Commercial Loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded investments		700
Accrual Loans \| Non-Owner Occupied CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans classified as TDRs	51	55
Loans on nonaccrual status
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans classified as TDRs	4,275	4,315
Loans on nonaccrual status \| Cash, Securities and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment	4	6
Loans on nonaccrual status \| 1-4 Family Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans classified as TDRs	72	75
Loans on nonaccrual status \| Owner Occupied CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans classified as TDRs	1,222	1,241
Loans on nonaccrual status \| Commercial. and Industrial.
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment	$ 2,926	$ 2,938

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
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment With Allowance	$ 2,192		$ 2,192
Total Recorded Investment With No Allowance	2,034		2,070
Total Recorded Investment	4,226		4,262
Unpaid Contractual Principal Balance with a valuation Allowance	2,192		2,192
Unpaid Contractual Principal Balance with no related valuation Allowance	2,034		2,070
Unpaid Contractual Principal Balance	4,226		4,262
Allowance for Loan Losses	1,753		1,753
Average Recorded Investment with Allowance	2,192	$ 3,422
Average Recorded Investment with No Allowance	2,052	618
Average Recorded Investment	4,244	4,040
Cash, Securities and Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment With Allowance	2		2
Total Recorded Investment With No Allowance	4		6
Total Recorded Investment	6		8
Unpaid Contractual Principal Balance with a valuation Allowance	2		2
Unpaid Contractual Principal Balance with no related valuation Allowance	4		6
Unpaid Contractual Principal Balance	6		8
Allowance for Loan Losses	2		2
Average Recorded Investment with Allowance	2	3
Average Recorded Investment with No Allowance	5	34
Average Recorded Investment	7	37
1-4 Family Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment With No Allowance	72		75
Total Recorded Investment	72		75
Unpaid Contractual Principal Balance with no related valuation Allowance	72		75
Unpaid Contractual Principal Balance	72		75
Average Recorded Investment with No Allowance	74
Average Recorded Investment	74
Owner Occupied CRE
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment With No Allowance	1,222		1,241
Total Recorded Investment	1,222		1,241
Unpaid Contractual Principal Balance with no related valuation Allowance	1,222		1,241
Unpaid Contractual Principal Balance	1,222		1,241
Average Recorded Investment with No Allowance	1,231	479
Average Recorded Investment	1,231	479
Commercial. and Industrial.
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Recorded Investment With Allowance	2,190		2,190
Total Recorded Investment With No Allowance	736		748
Total Recorded Investment	2,926		2,938
Unpaid Contractual Principal Balance with a valuation Allowance	2,190		2,190
Unpaid Contractual Principal Balance with no related valuation Allowance	736		748
Unpaid Contractual Principal Balance	2,926		2,938
Allowance for Loan Losses	1,751		$ 1,751
Average Recorded Investment with Allowance	2,190	3,419
Average Recorded Investment with No Allowance	742	105
Average Recorded Investment	$ 2,932	$ 3,524

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
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	$ 13,732	$ 12,539
(Recovery of) provision for loan losses	210
Charge-offs	(97)
Recoveries	40
Ending balance	13,885	12,539
Individually evaluated	1,753		$ 1,753
Collectively evaluated	12,132		11,979
Loans individually evaluated	4,226		4,262
Loans collectively evaluated	1,920,528		1,949,906
Measured at fair value	6,380
Total Recorded Investment	1,931,134		1,954,168
Cash, Securities and Other
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	1,864	2,579
(Recovery of) provision for loan losses	(84)	(6)
Charge-offs	(97)
Recoveries	40
Ending balance	1,723	2,573
Individually evaluated	2		2
Collectively evaluated	1,721		1,862
Loans individually evaluated	6		8
Loans collectively evaluated	265,425		295,940
Measured at fair value	6,380
Total Recorded Investment	271,811		295,948
Construction and Development
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	1,092	932
(Recovery of) provision for loan losses	(138)	(166)
Ending balance	954	766
Collectively evaluated	954		1,092
Loans collectively evaluated	151,651		178,716
Total Recorded Investment	151,651		178,716
1-4 Family Residential
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	3,553	3,233
(Recovery of) provision for loan losses	236	(81)
Ending balance	3,789	3,152
Collectively evaluated	3,789		3,553
Loans individually evaluated	72		75
Loans collectively evaluated	602,340		580,797
Total Recorded Investment	602,412		580,872
Non-Owner Occupied CRE
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	2,952	2,004
(Recovery of) provision for loan losses	(85)	207
Ending balance	2,867	2,211
Collectively evaluated	2,867		2,952
Loans collectively evaluated	455,715		482,622
Total Recorded Investment	455,715		482,622
Owner Occupied CRE
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	1,292	1,159
(Recovery of) provision for loan losses	36	(36)
Ending balance	1,328	1,123
Collectively evaluated	1,328		1,292
Loans individually evaluated	1,222		1,241
Loans collectively evaluated	211,179		211,185
Total Recorded Investment	212,401		212,426
Commercial. and Industrial.
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance	2,979	2,632
(Recovery of) provision for loan losses	245	82
Ending balance	3,224	$ 2,714
Individually evaluated	1,751		1,751
Collectively evaluated	1,473		1,228
Loans individually evaluated	2,926		2,938
Loans collectively evaluated	234,218		200,646
Total Recorded Investment	$ 237,144		$ 203,584

LOANS AND THE ALLOWANCE FOR _10

LOANS AND THE ALLOWANCE FOR LOAN LOSSES - Recorded investment in company's loans (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	$ 1,931,134,000	$ 1,954,168,000
Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	1,911,657,000	1,938,462,000
Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	6,297,000	8,875,000
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	6,800,000	6,831,000
Not Rated
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	6,380,000
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	271,811,000	295,948,000
Cash, Securities and Other \| Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	265,425,000	295,940,000
Cash, Securities and Other \| Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	6,000	8,000
Cash, Securities and Other \| Not Rated
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	6,380,000
Construction and Development
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	151,651,000	178,716,000
Construction and Development \| Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	151,651,000	176,194,000
Construction and Development \| Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment		2,522,000
1-4 Family Residential
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	602,412,000	580,872,000
1-4 Family Residential \| Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	602,340,000	580,797,000
1-4 Family Residential \| Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	72,000	75,000
Non-Owner Occupied CRE
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	455,715,000	482,622,000
Non-Owner Occupied CRE \| Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	449,811,000	476,670,000
Non-Owner Occupied CRE \| Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	5,904,000	5,952,000
Owner Occupied CRE
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	212,401,000	212,426,000
Owner Occupied CRE \| Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	210,492,000	210,493,000
Owner Occupied CRE \| Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	1,909,000	1,933,000
Commercial. and Industrial.
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	237,144,000	203,584,000
Commercial. and Industrial. \| Pass
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	231,938,000	198,368,000
Commercial. and Industrial. \| Special Mention
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	393,000	401,000
Commercial. and Industrial. \| Substandard
Financing Receivable, Recorded Investment [Line Items]
Total loans held for investment	$ 4,813,000	$ 4,815,000

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
GOODWILL (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Goodwill [Roll Forward]
Beginning balance	$ 30,588	$ 24,191
Acquisition activity		6,397
Acquisition activity	(188)
Ending balance	30,400	30,588
Change in goodwill		$ 6,400
Goodwill adjustments	$ (200)

LEASES - Leases Balance Sheets

LEASES - Leases Balance Sheets Location (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
LEASES
Operating lease right-of-use asset	$ 10,071	$ 10,720
Operating lease liability	$ 13,090	$ 13,863
Weighted-Average Remaining Lease Term - Operating leases	5 years 1 month 13 days	5 years 3 months 3 days
Weighted-Average Discount Rate - Operating leases	2.63%	2.67%

LEASES - Leases Costs (Details)

LEASES - Leases Costs (Details) - USD ($) $ in Thousands	3 Months Ended
LEASES - Leases Costs (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
LEASES
Operating lease cost	$ 795	$ 752
Variable lease cost	558	412
Lease costs, net	$ 1,353	$ 1,164

LEASES - Lease Maturity (Detail

LEASES - Lease Maturity (Details) - USD ($) $ in Thousands	3 Months Ended
LEASES - Lease Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
LEASES
2022	$ 2,601
2023	3,210
2024	3,064
2025	2,073
2026	703
Thereafter	2,168
Total future minimum lease payments	13,819
Less: imputed interest	(729)
Present value of net future minimum lease payments	13,090	$ 13,863
Lease income	$ 100

LEASES - Expected Amortization

LEASES - Expected Amortization Expense (Details) $ in Thousands	Mar. 31, 2022USD ($)
LEASES
2022	$ 205
2023	221
2024	199
Total undiscounted operating lease income	$ 625

DEPOSITS (Details)

DEPOSITS (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
DEPOSITS
Money market deposit accounts	$ 1,108,315	$ 1,056,669
Time deposits	156,678	170,491
Negotiable order of withdrawal accounts	319,648	309,940
Savings accounts	33,070	32,299
Total interest bearing deposits	1,617,711	1,569,399
Aggregate time deposits of $250,000 or greater	$ 73,602	$ 75,747

DEPOSITS - Time Deposits (Detai

DEPOSITS - Time Deposits (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Scheduled maturities of time deposits
2022	$ 89,023
2023	36,661
2024	6,382
2025	2,590
2026	17,137
Thereafter	4,885
Total	$ 156,678	$ 170,491

BORROWINGS (Details)

BORROWINGS (Details)	Jan. 01, 2022USD ($)	Aug. 31, 2021USD ($)	Nov. 25, 2020USD ($)	Mar. 17, 2020USD ($)	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)	Jan. 06, 2022USD ($)
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					$ 1,931,134,000	$ 1,954,168,000
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 March 2020
BORROWINGS
Face amount				$ 8,000,000
interest rate (as a percent)				5.125%
Issuance costs				$ 100,000
Net balance					7,900,000
Subordinated Notes March 2020 \| 90 Day London Interbank Offered Rate [Member]
BORROWINGS
Basis spread (as a percent)				4.50%
Subordinated Notes November 2020
BORROWINGS
Face amount			$ 10,000,000
interest rate (as a percent)			4.25%
Issuance costs			$ 200,000
Net balance					9,800,000
Subordinated Notes November 2020 \| 90 Day London Interbank Offered Rate [Member]
BORROWINGS
Basis spread (as a percent)			4.02%
Subordinated Notes 2026 [Member]
BORROWINGS
Maximum offering price							$ 100,000,000
Principle amount outstanding	$ 6,600,000
Redemption percentage	100.00%
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					14,800,000
PPPLF
BORROWINGS
Advances from Federal Home Loan Banks					$ 12,600,000	23,600,000
Interest bearing rate					0.35%
PPPLF \| Minimum
BORROWINGS
Debt term					2 years
PPPLF \| Maximum
BORROWINGS
Debt term					5 years
FHLB
BORROWINGS
Amount of collateral pledged					$ 815,500,000	771,400,000
Available balance					$ 541,200,000
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	Mar. 31, 2022	Dec. 31, 2021
Unused lines of credit-Fixed
COMMITMENTS AND CONTINGENCIES
Other commitment	$ 118,953	$ 136,289
Standby letters of credit-Fixed
COMMITMENTS AND CONTINGENCIES
Other commitment	5,696	2,420
Commitments to make loans to sell-Fixed
COMMITMENTS AND CONTINGENCIES
Other commitment	79,178	60,529
Commitments to make loans-Fixed
COMMITMENTS AND CONTINGENCIES
Other commitment	46,354	16,256
Unused lines of credit-Variable
COMMITMENTS AND CONTINGENCIES
Other commitment	509,677	442,035
Standby letters of credit-Variable
COMMITMENTS AND CONTINGENCIES
Other commitment	22,035	20,940
Commitments to make loans-Variable
COMMITMENTS AND CONTINGENCIES
Other commitment	$ 12,626	$ 14,920

SHAREHOLDERS EQUITY - Common St

SHAREHOLDERS EQUITY - Common Stock (Details) - $ / shares	3 Months Ended
SHAREHOLDERS EQUITY - Common Stock (Details) - $ / shares	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Nov. 03, 2020
Class of Stock [Line Items]
Common stock par value	$ 0		$ 0
Common Stock
Class of Stock [Line Items]
Common stock par value	$ 0
Number of votes per each share	one
Effective term of program	1 year
Issuance of common stock for Teton Acquisition (in shares)	0	0
Common Stock \| 2020 Repurchase Plan
Class of Stock [Line Items]
Common stock par value				$ 0
Authorized share repurchase				400,000

SHAREHOLDERS EQUITY - Stock bas

SHAREHOLDERS EQUITY - Stock based compensation - Restricted Stock Awards (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	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
Number of stock awards vested	0	0
Unrecognized compensation expense	$ 0.1
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
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized compensation expense	$ 0

SHAREHOLDERS EQUITY - Stock b_2

SHAREHOLDERS EQUITY - Stock based compensation - Stock Options (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	0	0
Stock-based compensation expense	$ 0
Unrecognized stock-based compensation expense	$ 0
2016 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for issuance	338,950

SHAREHOLDERS EQUITY - Stock b_3

SHAREHOLDERS EQUITY - Stock based compensation - Stock Options Activity (Details) - Stock options - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding at beginning of year (in shares)	308,574
Granted (in shares)	0	0
Exercised (in shares)	(2,511)
Forfeited or expired (in shares)	(116,100)
Outstanding at end of period (in shares)	189,963
Options fully vested / exercisable at end of period (in shares)	189,963
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options, Outstanding, Weighted Average Exercise Price, Beginning Balance	$ 29.21
Exercised (in dollars per share)	23.01
Forfeited or expired (in dollars per share)	40
Options, Outstanding, Weighted Average Exercise Price, Ending Balance	22.70
Options fully vested / exercisable	$ 22.70
Weighted Average Remaining Contractual Term
Outstanding at end of year	2 years 9 months 18 days
Options fully vested / exercisable	2 years 9 months 18 days
Aggregate Intrinsic Value
Exercise price low range	$ 20
Exercise price high range	$ 27
Expiry period	10 years

SHAREHOLDERS EQUITY - Stock b_4

SHAREHOLDERS EQUITY - Stock based compensation - Share Awards (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Stock issued (in shares)	8,225	6,127
Stock surrendered (in shares)	4,289	2,824
Stock surrendered to cover employee withholding taxes	$ 0.1	$ 0.1
Time Vesting Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at beginning of year	249,821
Vested (in shares)	(414)
Forfeited (in shares)	(1,967)
Outstanding at end of year	247,440
Stock-based compensation expense		$ 0.4
Unrecognized compensation expense	$ 3
Unrecognized compensation expense recognition period (in years)	1 year 4 months 24 days
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	183,483
Vested (in shares)	(12,100)
Forfeited (in shares)	(671)
Outstanding at end of year	170,712
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	13,746
Outstanding at end of year	13,746
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	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
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]
Stock-based compensation expense		$ 15
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	$ 292
Unrecognized compensation expense recognition period (in years)	1 year 9 months 18 days
Stock-based compensation expense	$ 61	56
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%
Maximum number of shares can be issued	81,099
Unrecognized compensation expense	$ 400
Unrecognized compensation expense recognition period (in years)	2 years 9 months 18 days
Stock-based compensation expense	$ 53	55
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%
Remainder threshold awards	50.00%
Maximum number of shares can be issued	34,752
Unrecognized compensation expense	$ 313
Unrecognized compensation expense recognition period (in years)	2 years 7 months 6 days
Stock-based compensation expense	$ 30	$ 34
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	59,963
Unrecognized compensation expense	$ 840
Unrecognized compensation expense recognition period (in years)	3 years 9 months 18 days
Stock-based compensation expense	$ 81

SHAREHOLDERS EQUITY - Stock b_6

SHAREHOLDERS EQUITY - Stock based compensation - Market Performance Units (Details)	3 Months Ended
	Mar. 31, 2022
Market Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
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
	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net income available for common shareholders	$ 5,524	$ 5,999
Denominator:
Basic weighted average shares	9,418,318	7,935,664
Earnings per common share - basic	$ 0.59	$ 0.76
Numerator:
Net income	$ 5,524	$ 5,999
Denominator:
Basic weighted average shares	9,418,318	7,935,664
Diluted effect of common stock equivalents:
Total diluted effect of common stock equivalents	344,284	167,939
Diluted weighted average shares	9,762,602	8,103,603
Earnings per common share - diluted	$ 0.57	$ 0.74
Stock options
Diluted effect of common stock equivalents:
Diluted effect of common stock equivalents	57,139	4,923
Time Vesting Units
Diluted effect of common stock equivalents:
Diluted effect of common stock equivalents	189,538	102,530
Financial Performance Units
Diluted effect of common stock equivalents:
Diluted effect of common stock equivalents	83,954	46,289
Market Performance Units
Diluted effect of common stock equivalents:
Diluted effect of common stock equivalents	13,653	14,197

EARNINGS PER COMMON SHARE - Ant

EARNINGS PER COMMON SHARE - Anti-dilutive Securities (Details)	3 Months Ended
	Mar. 31, 2021shares
EARNINGS PER COMMON SHARE
Total potentially dilutive securities	326,313
Stock options
EARNINGS PER COMMON SHARE
Total potentially dilutive securities	278,109
Time Vesting Units
EARNINGS PER COMMON SHARE
Total potentially dilutive securities	3,982
Financial Performance Units
EARNINGS PER COMMON SHARE
Total potentially dilutive securities	23,168
Restricted Stock Awards
EARNINGS PER COMMON SHARE
Total potentially dilutive securities	21,054

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
INCOME TAXES
Income tax provision	$ 1,792	$ 2,040
Effective income tax rate	24.50%	25.40%

RELATED-PARTY TRANSACTIONS (Det

RELATED-PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Summary of related party loan activity
Balance, beginning of year	$ 12,833	$ 14,321	$ 14,321
Funded loans	2,284		11,294
Payments collected	(3,063)		(12,782)
Balance, end of year	12,054		12,833
Deposits from related parties	46,500		51,000
Impaired Financing Receivable, Recorded Investment	4,226		$ 4,262
Trust and investment management fees	5,168	4,847
Board Member
Summary of related party loan activity
Rental income	$ 100	$ 100

FAIR VALUE - Summary of assets

FAIR VALUE - Summary of assets measured at fair value on recurring basis (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	$ 58,727	$ 55,562
Mortgage loans held for sale, at fair value	33,663	30,620
U.S. Treasury debt
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	239	247
U.S. Government Agency
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	2,867	3,522
Corporate bonds
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	17,083	8,325
Government CMO and MBS
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	658	878
Corporate CMO and MBS
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	1,336	1,497
Recurring
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	58,727	55,562
Loans held at fair value	6,380
Equity securities	798	1,198
Guarantee asset	206	237
Equity warrants	402	160
Mortgage loans held for sale, at fair value	33,663	30,620
Recurring \| U.S. Treasury debt
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	239	247
Recurring \| U.S. Government Agency
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	2,867	3,522
Recurring \| Corporate bonds
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	17,083	8,325
Recurring \| Government CMO and MBS
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	658	878
Recurring \| Corporate CMO and MBS
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	1,336	1,497
Recurring \| IRLC,net
Summary of assets measured on a recurring and nonrecurring basis
Derivative asset, Fair value	990	1,473
Recurring \| Forward Commitment
Summary of assets measured on a recurring and nonrecurring basis
Derivative asset, Fair value	1,478	(74)
Recurring \| GNMA \| mortgage-backed securities - residential
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	23,542	26,650
Recurring \| FNMA \| mortgage-backed securities - residential
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	13,002	14,443
Level 1 \| Recurring
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	239	247
Equity securities	676	709
Level 1 \| Recurring \| U.S. Treasury debt
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	239	247
Level 2 \| Recurring
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	52,273	53,202
Equity securities	122	489
Mortgage loans held for sale, at fair value	33,663	30,620
Level 2 \| Recurring \| U.S. Government Agency
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	2,867	3,522
Level 2 \| Recurring \| Corporate bonds
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	10,868	6,212
Level 2 \| Recurring \| Government CMO and MBS
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	658	878
Level 2 \| Recurring \| Corporate CMO and MBS
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	1,336	1,497
Level 2 \| Recurring \| Forward Commitment
Summary of assets measured on a recurring and nonrecurring basis
Derivative asset, Fair value	1,478	(65)
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	23,542	26,650
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	13,002	14,443
Level 3 \| Recurring
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	6,215	2,113
Loans held at fair value	6,380
Guarantee asset	206	237
Equity warrants	402	160
Level 3 \| Recurring \| Corporate bonds
Summary of assets measured on a recurring and nonrecurring basis
Available-for-sale securities, at fair value	6,215	2,113
Level 3 \| Recurring \| IRLC,net
Summary of assets measured on a recurring and nonrecurring basis
Derivative asset, Fair value	$ 990	1,473
Level 3 \| Recurring \| Forward Commitment
Summary of assets measured on a recurring and nonrecurring basis
Derivative asset, Fair value		$ (9)

FAIR VALUE - Loans measured at

FAIR VALUE - Loans measured at fair value under fair value option (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total loans, fair value	$ 40,043,000	$ 30,620,000
Total loans, unpaid principal balance	40,081,000	29,857,000
Total loans, difference	(38,000)	763,000
Non-accruals, fair value	0	0
90 days or more past due, fair value	0	0
Loans Held for Sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total loans, fair value	33,663,000	30,620,000
Total loans, unpaid principal balance	33,713,000	29,857,000
Total loans, difference	(50,000)	$ 763,000
Loan Held for Investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total loans, fair value	6,380,000
Total loans, unpaid principal balance	6,368,000
Total loans, difference	$ 12,000

FAIR VALUE - Schedule of gain o

FAIR VALUE - Schedule of gain or loss on fair value of loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain or loss on loans	$ (1,911)	$ 125
Loans Held for Sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain or loss on loans	$ (1,911)	$ 125

FAIR VALUE - Summary of activit

FAIR VALUE - Summary of activity pertaining to loans under fair value option (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Loans Held for Sale
Guarantee asset
Beginning balance	$ 30,620	$ 161,843
Loans originated	191,081	525,814
Fair value changes	667	5,969
Sales	(188,666)	(514,556)
Settlements	(39)	(2,426)
Ending balance	33,663	$ 176,644
Loan Held for Investment
Guarantee asset
Loans acquired	6,380
Ending balance	$ 6,380

FAIR VALUE - Summary of asset_2

FAIR VALUE - Summary of assets measured at level 3 fair value on recurring basis (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022USD ($)loan	Dec. 31, 2021USD ($)loan
Summary of assets measured on a recurring and nonrecurring basis
Impaired Financing Receivable, with Related Allowance, Recorded Investment	$ 2,192	$ 2,192
Loans and Leases Receivable, Allowance	13,885	13,732
Net recorded investment	$ 2,524	$ 2,564
Cash, Securities and Other
Summary of assets measured on a recurring and nonrecurring basis
Loan Reserved For Specific Allowance \| loan	1	1
Impaired Financing Receivable, with Related Allowance, Recorded Investment	$ 2	$ 2
Level 3
Summary of assets measured on a recurring and nonrecurring basis
Impaired Financing Receivable, with Related Allowance, Recorded Investment	2,200
Loans and Leases Receivable, Allowance	1,800
Provision for loan losses	1,800	1,800
Commercial and Industrial \| Nonrecurring
Summary of assets measured on a recurring and nonrecurring basis
Net recorded investment	439	439
Commercial and Industrial \| Level 3 \| Nonrecurring
Summary of assets measured on a recurring and nonrecurring basis
Net recorded investment	$ 439	$ 439

FAIR VALUE - Summary of asset_3

FAIR VALUE - Summary of assets measured at fair value on recurring basis (Details) - Level 3 - Recurring - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Corporate bonds
Guarantee asset
Beginning balance	$ 2,113
Acquisitions	4,000
Unrealized gains/(losses), net	102
Ending balance	6,215
Loans Held at Fair Value
Guarantee asset
Beginning balance	6,380
Ending balance	6,380
Forward Commitment
Guarantee asset
Beginning balance	(9)	$ (89)
Acquisitions	9
Gains (losses) in net income, net		(84)
Ending balance		(173)
Guarantee Asset
Guarantee asset
Beginning balance	237	232
Gains (losses) in net income, net	(31)	(44)
Ending balance	206	188
IRLC,net
Guarantee asset
Beginning balance	1,473	9,841
Acquisitions	1,614	2,684
Originations	(1,354)	(7,016)
Gains (losses) in net income, net	(743)	(3,404)
Ending balance	990	$ 2,105
Equity Warrants
Guarantee asset
Beginning balance	160
Acquisitions	242
Ending balance	$ 402

FAIR VALUE - Summary of asset_4

FAIR VALUE - Summary of assets and liabilities measured at fair value on a recurring or nonrecurring, the significant unobservable inputs (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, at fair value	$ 58,727	$ 55,562
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, at fair value	17,083	8,325
Nonrecurring \| Level 3 \| Commercial and Industrial
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Estimate	$ 439
Nonrecurring \| Management discount for asset/property type \| Level 3 \| Commercial and Industrial \| Sales Comparison, Market Approach [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, Fair Value		$ 439
Nonrecurring \| Minimum \| Management discount for asset/property type \| Level 3 \| Commercial and Industrial \| Sales Comparison, Market Approach [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount rate	7.00%	17.00%
Nonrecurring \| Maximum \| Management discount for asset/property type \| Level 3 \| Commercial and Industrial \| Sales Comparison, Market Approach [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount rate	45.00%	45.00%
Nonrecurring \| Weighted Average \| Management discount for asset/property type \| Level 3 \| Commercial and Industrial \| Sales Comparison, Market Approach [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount rate	38.00%	39.00%
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, at fair value	$ 58,727	$ 55,562
Loans held at fair value, Fair value	6,380
Guarantee asset, Fair Value	206	237
Equity warrants, Fair value	402	160
Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, at fair value	6,215	2,113
Loans held at fair value, Fair value	6,380
Guarantee asset, Fair Value	206	237
Equity warrants, Fair value	$ 402	$ 160
Recurring \| Discount rate \| Level 3 \| Discounted cash flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount rate	3.00%	3.00%
Recurring \| Prepayment rate \| Level 3 \| Discounted cash flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount rate	11.00%	18.00%
Recurring \| Weighted Average \| Discount rate \| Level 3 \| Discounted cash flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount rate	3.00%	3.00%
Recurring \| Weighted Average \| Prepayment rate \| Level 3 \| Discounted cash flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount rate	11.00%	18.00%
Recurring \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, at fair value	$ 17,083	$ 8,325
Recurring \| Corporate bonds \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, at fair value	6,215	2,113
Recurring \| Corporate bonds \| Discount rate \| Level 3 \| Discounted cash flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, at fair value	$ 6,215
Derivative assets, Fair Value		$ 2,113
Range and weighted average of discount rate	5.00%	7.00%
Recurring \| Corporate bonds \| Weighted Average \| Discount rate \| Level 3 \| Discounted cash flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount rate		7.00%
Recurring \| Loans Held at Fair Value \| Level 3 \| Discounted cash flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held at fair value, Fair value	$ 6,380
Recurring \| Loans Held at Fair Value \| Discount rate \| Discounted cash flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount	19.00%
Recurring \| Loans Held at Fair Value \| Weighted Average \| Discount rate \| Level 3 \| Discounted cash flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount	19.00%
Recurring \| Guarantee Asset \| Prepayment rate \| Level 3 \| Discounted cash flow
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Guarantee asset, Fair Value	$ 206	$ 237
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	$ 990	$ 1,473
Range and weighted average of discount rate	93.00%
Recurring \| IRLC,net \| Minimum \| Pull through \| Level 3 \| Best execution model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount rate	67.00%	71.00%
Recurring \| IRLC,net \| Maximum \| Pull through \| Level 3 \| Best execution model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount rate	100.00%	100.00%
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]
Range and weighted average of discount rate		88.00%
Recurring \| IRLC,net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, Fair Value	$ 990	$ 1,473
Recurring \| IRLC,net \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, Fair Value	$ 990	1,473
Recurring \| Equity Warrants \| Volatility \| Level 3 \| Black-Scholes option pricing model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, Fair Value		$ 160
Range and weighted average of discount rate	32.00%
Recurring \| Equity Warrants \| Risk-free interest rate \| Level 3 \| Black-Scholes option pricing model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity warrants, Fair value	$ 402
Range and weighted average of discount rate		1.10%
Recurring \| Equity Warrants \| Minimum \| Level 3 \| Black-Scholes option pricing model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range term		0 years
Recurring \| Equity Warrants \| Minimum \| Volatility \| Level 3 \| Black-Scholes option pricing model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount rate	24.00%	24.00%
Recurring \| Equity Warrants \| Minimum \| Risk-free interest rate \| Level 3 \| Black-Scholes option pricing model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount rate	0.30%
Recurring \| Equity Warrants \| Minimum \| Remaining life \| Level 3 \| Black-Scholes option pricing model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range term	0 years
Recurring \| Equity Warrants \| Maximum \| Level 3 \| Black-Scholes option pricing model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range term		4 years
Recurring \| Equity Warrants \| Maximum \| Volatility \| Level 3 \| Black-Scholes option pricing model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount rate	37.00%	37.00%
Recurring \| Equity Warrants \| Maximum \| Risk-free interest rate \| Level 3 \| Black-Scholes option pricing model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount rate	1.10%	0.30%
Recurring \| Equity Warrants \| Maximum \| Remaining life \| Level 3 \| Black-Scholes option pricing model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range term	4 years
Recurring \| Equity Warrants \| Weighted Average \| Volatility \| Level 3 \| Black-Scholes option pricing model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount rate		32.00%
Recurring \| Equity Warrants \| Weighted Average \| Risk-free interest rate \| Level 3 \| Black-Scholes option pricing model
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Range and weighted average of discount rate	0.97%	0.97%
Recurring \| Forward Commitment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, Fair Value	$ 1,478	$ (74)
Recurring \| Forward Commitment \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, Fair Value		(9)
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		$ (9)
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		(0.14)
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		(0.02)
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		(0.06)

FAIR VALUE - Summary of carryin

FAIR VALUE - Summary of carrying amounts and estimated fair values for financial instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents	$ 454,099	$ 386,983	$ 375,936	$ 155,989
Loans, net	1,909,940	1,935,405
Accrued interest receivable	6,969	7,151
Liabilities
Deposits	2,272,112	2,205,703
FHLB borrowings - fixed rate	27,576	38,629
Subordinated notes	32,523	39,031
Accrued interest payable	312	355
Carrying Amount
Assets
Cash and cash equivalents	454,099	386,983
Loans, net	1,909,940	1,935,405
Accrued interest receivable	6,969	7,151
Liabilities
Deposits	2,272,112	2,205,703
FHLB borrowings - fixed rate	15,000	15,000
Federal Reserve Borrowings - fixed rate	12,576	23,629
Accrued interest payable	312	355
Subordinated notes - fixed-to-floating rate \| Carrying Amount
Liabilities
Subordinated notes	32,523	39,031
Level 1 \| Estimated Fair Value
Assets
Cash and cash equivalents	454,099	386,983
Accrued interest receivable	2	2
Level 2 \| Estimated Fair Value
Assets
Accrued interest receivable	299	203
Liabilities
Deposits	2,273,766	2,207,452
FHLB borrowings - fixed rate	14,817	14,990
Federal Reserve Borrowings - fixed rate	12,576	23,629
Accrued interest payable	130	156
Level 3 \| Estimated Fair Value
Assets
Loans, net	1,902,433	1,919,625
Accrued interest receivable	6,668	6,946
Liabilities
Accrued interest payable	182	199
Level 3 \| Subordinated notes - fixed-to-floating rate \| Estimated Fair Value
Liabilities
Subordinated notes	$ 35,573	$ 40,325

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) - USD ($) $ in Thousands	3 Months Ended
SEGMENT REPORTING (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Income Statement
Total interest income	$ 19,665	$ 14,499
Total interest expense	1,381	1,446
Provision for loan losses	210
Net interest income, after provision for loan losses	18,074	13,053
Non-interest income	8,633	10,615
Total income	26,707	23,668
Depreciation and amortization expense	560	272
Net (gain)/loss on assets held for sale	(1)
All other non-interest expense	18,832	15,357
Income before income taxes	7,316	8,039
Segment reporting
Goodwill	30,400	24,191	$ 30,588	$ 24,191
Assets held for sale	117		115
Total assets	2,576,661	2,211,578	$ 2,527,489
Wealth Management
Income Statement
Total interest income	19,665	14,499
Total interest expense	1,381	1,446
Provision for loan losses	210
Net interest income, after provision for loan losses	18,074	13,053
Non-interest income	6,115	5,418
Total income	24,189	18,471
Depreciation and amortization expense	548	258
Net (gain)/loss on assets held for sale	(1)
All other non-interest expense	16,631	12,296
Income before income taxes	7,011	5,917
Segment reporting
Goodwill	30,400	24,191
Total assets	2,539,473	2,025,720
Mortgage
Income Statement
Non-interest income	2,518	5,197
Total income	2,518	5,197
Depreciation and amortization expense	12	14
All other non-interest expense	2,201	3,061
Income before income taxes	305	2,122
Segment reporting
Total assets	$ 37,188	$ 185,858

LOW-INCOME HOUSING TAX CREDIT_2

LOW-INCOME HOUSING TAX CREDIT INVESTMENT (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Schedule of Investments [Line Items]
Unfunded commitments	$ 0		$ 0.2
Tax credits and other benefits	0.1
Impairment losses	0	$ 0
Other Assets [Member]
Schedule of Investments [Line Items]
Investment balance	2.7		$ 2.6
Income Tax Expense (Benefit).
Schedule of Investments [Line Items]
Amortization expense	$ 0.1	$ 0.1

REGULATORY CAPITAL MATTERS (Det

REGULATORY CAPITAL MATTERS (Details) $ in Thousands	3 Months Ended	12 Months Ended
REGULATORY CAPITAL MATTERS (Details) $ in Thousands	Mar. 31, 2022USD ($)item	Dec. 31, 2021USD ($)
REGULATORY CAPITAL MATTERS
Capital injection		$ 2,900
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	$ 194,605	$ 188,777
Actual Ratio (as a percent)	11.11%	10.54%
Tier 1 capital to risk-weighted assets
Actual Amount	$ 194,605	$ 188,777
Actual Ratio (as a percent)	11.11	10.54
Required for Capital Adequacy Purposes Amount (as a percent)	8.5
Total capital to risk-weighted assets
Actual Amount	$ 241,841	$ 242,388
Actual Ratio (as a percent)	13.81	13.54
Required for Capital Adequacy Purposes Ratio (as a percent)	10.5
Tier 1 capital to average assets
Actual Amount	$ 194,605	$ 188,777
Actual Ratio (as a percent)	7.67	9.31
Bank
Common Equity Tier 1 (CET 1) to risk-weighted assets
Actual Amount	$ 209,428	$ 203,164
Actual Ratio (as a percent)	12.01%	11.40%
Required for Capital Adequacy Purposes Amount	$ 78,497	$ 80,209
Required for Capital Adequacy Purposes Ratio (as a percent)	4.50%	4.50%
To be Well Capitalized Under Prompt Corrective Action Regulations Amount	$ 113,385	$ 115,858
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	$ 209,428	$ 203,164
Actual Ratio (as a percent)	12.01	11.40
Required for Capital Adequacy Purposes Amount	$ 104,663	$ 106,945
Required for Capital Adequacy Purposes Amount (as a percent)	6	6
To be Well Capitalized Under Prompt Corrective Action Regulations Amount	$ 139,551	$ 142,594
To be Well Capitalized Under Prompt Corrective Action Regulations Ratio (as a percent)	8	8
Total capital to risk-weighted assets
Actual Amount	$ 223,664	$ 217,215
Actual Ratio (as a percent)	12.82	12.19
Required for Capital Adequacy Purposes Amount	$ 139,551	$ 142,594
Required for Capital Adequacy Purposes Ratio (as a percent)	8	8
To be Well Capitalized Under Prompt Corrective Action Regulations Amount	$ 174,439	$ 178,242
To be Well Capitalized Under Prompt Corrective Action Regulations Ratio (as a percent)	10	10
Tier 1 capital to average assets
Actual Amount	$ 209,428	$ 203,164
Actual Ratio (as a percent)	8.27	10.05
Required for Capital Adequacy Purposes Amount	$ 101,264	$ 80,887
Required for Capital Adequacy Purposes Ratio (as a percent)	4	4
To be Well Capitalized Under Prompt Corrective Action Regulations Amount	$ 126,581	$ 101,108
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	5	5