AmeriServ Financial (ASRV) 10-K 10 Mar 21 2020 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 28, 2021	Jun. 30, 2020
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Registrant Name	AMERISERV FINANCIAL INC /PA/
Entity Central Index Key	0000707605
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding		17,066,164
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
ICFR Auditor Attestation Flag	false
Entity Public Float			$ 47,804,311
COMMON STOCK
Document Information [Line Items]
Trading Symbol	ASRV
Title of 12(b) Security	Common Stock
Security Exchange Name	NASDAQ
Beneficial Unsecured Securities
Document Information [Line Items]
Trading Symbol	ASRVP
Title of 12(b) Security	Beneficial Unsecured Securities
Security Exchange Name	NASDAQ

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Dec. 31, 2020	Dec. 31, 2019
ASSETS
Cash and due from depository institutions	$ 20,427,000	$ 15,642,000
Interest bearing deposits	2,585,000	2,755,000
Short-term investments	8,492,000	3,771,000
Cash and cash equivalents	31,504,000	22,168,000
Investment securities:
Available for sale, at fair value	144,165,000	141,749,000
Held to maturity (fair value $47,106 on December 31, 2020 and $41,082 on December 31, 2019)	44,222,000	39,936,000
Loans held for sale	6,250,000	4,868,000
Loans	973,297,000	883,090,000
Less: Unearned income	1,202,000	384,000
Less: Allowance for loan losses	11,345,000	9,279,000
Net loans	960,750,000	873,427,000
Premises and equipment:
Operating lease right-of-use asset	758,000	846,000
Financing lease right-of-use asset	2,956,000	3,078,000
Other premises and equipment, net	14,336,000	14,643,000
Accrued interest income receivable	5,068,000	3,449,000
Goodwill	11,944,000	11,944,000
Bank owned life insurance	39,033,000	38,916,000
Net deferred tax asset	1,572,000	3,976,000
Federal Home Loan Bank stock	4,821,000	3,985,000
Federal Reserve Bank stock	2,125,000	2,125,000
Other assets	10,209,000	6,074,000
TOTAL ASSETS	1,279,713,000	1,171,184,000
LIABILITIES
Non-interest bearing deposits	177,533,000	136,462,000
Interest bearing deposits	877,387,000	824,051,000
Total deposits	1,054,920,000	960,513,000
Short-term borrowings	24,702,000	22,412,000
Advances from Federal Home Loan Bank	64,989,000	53,668,000
Operating lease liabilities	776,000	865,000
Financing lease liabilities	3,109,000	3,163,000
Guaranteed junior subordinated deferrable interest debentures	12,970,000	12,955,000
Subordinated debt	7,534,000	7,511,000
Total borrowed funds	114,080,000	100,574,000
Other liabilities	6,314,000	11,483,000
TOTAL LIABILITIES	1,175,314,000	1,072,570,000
SHAREHOLDERS’ EQUITY
Common stock, par value $0.01 per share; 30,000,000 shares authorized; 26,688,963 shares issued and 17,060,144 shares outstanding on December 31, 2020; 26,650,728 shares issued and 17,057,871 shares outstanding on December 31, 2019	267,000	267,000
Treasury stock at cost, 9,628,819 shares on December 31, 2020 and 9,592,857 shares on December 31, 2019	(83,280,000)	(83,129,000)
Capital surplus	145,969,000	145,888,000
Retained earnings	54,641,000	51,759,000
Accumulated other comprehensive loss, net	(13,198,000)	(16,171,000)
TOTAL SHAREHOLDERS’ EQUITY	104,399,000	98,614,000
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 1,279,713,000	$ 1,171,184,000

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
CONSOLIDATED BALANCE SHEETS
Held to maturity securities, fair value	$ 47,106	$ 41,082
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	30,000,000	30,000,000
Common stock, shares issued	26,688,963	26,650,728
Common stock, shares outstanding	17,060,144	17,057,871
Treasury stock, shares	9,628,819	9,592,857

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Interest and fees on loans:
Taxable	$ 40,518,000	$ 42,832,000	$ 40,938,000
Tax exempt	110,000	101,000	90,000
Interest bearing deposits	15,000	24,000	20,000
Short-term investments	231,000	293,000	201,000
Investment securities:
Available for sale	4,591,000	5,090,000	4,527,000
Held to maturity	1,417,000	1,427,000	1,318,000
Total Interest Income	46,882,000	49,767,000	47,094,000
INTEREST EXPENSE
Deposits	7,634,000	11,189,000	8,443,000
Short-term borrowings	29,000	288,000	720,000
Advances from Federal Home Loan Bank	1,099,000	1,090,000	797,000
Financing lease liabilities	112,000	117,000
Guaranteed junior subordinated deferrable interest debentures	1,121,000	1,121,000	1,120,000
Subordinated debt	520,000	520,000	520,000
Total Interest Expense	10,515,000	14,325,000	11,600,000
Net Interest Income	36,367,000	35,442,000	35,494,000
Provision (credit) for loan losses	2,375,000	800,000	(600,000)
Net Interest Income after Provision (Credit) for Loan Losses	33,992,000	34,642,000	36,094,000
NON-INTEREST INCOME
Non-interest income	12,823,000	12,760,000	12,799,000
Net gains on loans held for sale	1,523,000	865,000	489,000
Mortgage related fees	559,000	302,000	196,000
Net realized gains (losses) on investment securities		118,000	(439,000)
Impairment charge on other investments	0	(500,000)	0
Bank owned life insurance	782,000	521,000	536,000
Other income	2,296,000	2,466,000	2,363,000
Total Non-Interest Income	16,275,000	14,773,000	14,224,000
NON-INTEREST EXPENSE
Salaries and employee benefits	27,390,000	25,429,000	24,358,000
Net occupancy expense	2,510,000	2,497,000	2,462,000
Equipment expense	1,559,000	1,510,000	1,464,000
Professional fees	5,219,000	4,885,000	5,039,000
Supplies, postage and freight	714,000	605,000	674,000
Miscellaneous taxes and insurance	1,143,000	1,135,000	1,062,000
Federal deposit insurance expense	481,000	100,000	557,000
Other expense	5,439,000	5,654,000	5,257,000
Total Non-Interest Expense	44,455,000	41,815,000	40,873,000
PRETAX INCOME	5,812,000	7,600,000	9,445,000
Provision for income taxes	1,214,000	1,572,000	1,677,000
NET INCOME	$ 4,598,000	$ 6,028,000	$ 7,768,000
Basic:
Net income	$ 0.27	$ 0.35	$ 0.43
Average number of shares outstanding	17,053	17,359	17,933
Diluted:
Net income	$ 0.27	$ 0.35	$ 0.43
Average number of shares outstanding	17,063	17,440	18,037
Cash dividends declared	$ 0.100	$ 0.095	$ 0.075
Wealth management fees
NON-INTEREST INCOME
Non-interest income	$ 10,212,000	$ 9,730,000	$ 9,659,000
Service charges on deposit accounts
NON-INTEREST INCOME
Non-interest income	903,000	1,271,000	1,420,000
Other
NON-INTEREST INCOME
Non-interest income	$ 1,708,000	$ 1,759,000	$ 1,720,000

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
COMPREHENSIVE INCOME
Net income	$ 4,598,000	$ 6,028,000	$ 7,768,000
Other comprehensive income (loss), before tax:
Pension obligation change for defined benefit plan	1,454,000	(6,418,000)	(244,000)
Income tax effect	(305,000)	1,348,000	51,000
Unrealized holding gains (losses) on available for sale securities arising during period	2,309,000	4,072,000	(1,810,000)
Income tax effect	(485,000)	(855,000)	381,000
Reclassification adjustment for net realized (gains) losses on available for sale securities included in net income		(118,000)	439,000
Income tax effect		25,000	(92,000)
Other comprehensive income (loss)	2,973,000	(1,946,000)	(1,275,000)
Comprehensive income	$ 7,571,000	$ 4,082,000	$ 6,493,000

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	COMMON STOCK	TREASURY STOCK	CAPITAL SURPLUS	RETAINED EARNINGSCumulative Effect, Period of Adoption, Adjustment [Member]	RETAINED EARNINGS	ACCUMULATED OTHER COMPREHENSIVE LOSS, NET	Total
Balance at beginning of period at Dec. 31, 2017	$ 266	$ (78,233)	$ 145,707		$ 40,312	$ (12,950)
New common shares issued for exercise of stock options			61
Treasury stock, purchased at cost		(2,346)
Stock option expense			14
Net income					7,768		$ 7,768
Cash dividend declared on common stock					(1,347)
Other comprehensive income (loss)						(1,275)	(1,275)
Balance at end of period at Dec. 31, 2018	266	(80,579)	145,782	$ 640	46,733	(14,225)	97,977
New common shares issued for exercise of stock options	1		99
Treasury stock, purchased at cost		(2,550)
Stock option expense			7
Net income					6,028		6,028
Cash dividend declared on common stock					(1,642)
Other comprehensive income (loss)						(1,946)	(1,946)
Balance at end of period at Dec. 31, 2019	267	(83,129)	145,888		51,759	(16,171)	98,614
Cumulative effect adjustment for change in accounting principal							51,759
New common shares issued for exercise of stock options			78
Treasury stock, purchased at cost		(151)
Stock option expense			3
Net income					4,598		4,598
Cash dividend declared on common stock					(1,716)
Other comprehensive income (loss)						2,973	2,973
Balance at end of period at Dec. 31, 2020	$ 267	$ (83,280)	$ 145,969		$ 54,641	$ (13,198)	104,399
Cumulative effect adjustment for change in accounting principal							$ 54,641

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
New common shares issued for exercise of stock options, shares	38,235	40,917	24,408
Cash dividend declared per common share	$ 0.100	$ 0.095	$ 0.075
COMMON STOCK
New common shares issued for exercise of stock options, shares	38,235	40,917	24,408
TREASURY STOCK
Treasury stock, purchased at cost, shares	35,962	602,349	533,352
CAPITAL SURPLUS
New common shares issued for exercise of stock options, shares	38,235	40,917	24,408
RETAINED EARNINGS
Cash dividend declared per common share	$ 0.100	$ 0.095	$ 0.075

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
OPERATING ACTIVITIES
Net income	$ 4,598,000	$ 6,028,000	$ 7,768,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision (credit) for loan losses	2,375,000	800,000	(600,000)
Depreciation and amortization expense	1,996,000	1,873,000	1,530,000
Net amortization of investment securities	285,000	279,000	347,000
Net realized (gains) losses on investment securities — available for sale	0	(118,000)	439,000
Impairment charge on other investments	0	500,000	0
Net gains on loans held for sale	(1,523,000)	(865,000)	(489,000)
Amortization of deferred loan fees	(707,000)	(142,000)	(149,000)
Origination of mortgage loans held for sale	(87,140,000)	(49,460,000)	(28,916,000)
Sales of mortgage loans held for sale	87,281,000	46,304,000	31,683,000
Decrease (increase) in accrued interest receivable	(1,619,000)	40,000	114,000
Increase (decrease) in accrued interest payable	(525,000)	546,000	302,000
Earnings on bank-owned life insurance	(782,000)	(521,000)	(536,000)
Deferred income taxes	1,614,000	179,000	2,665,000
Stock compensation expense	3,000	7,000	14,000
Net change in operating leases	(89,000)	(67,000)	0
Other, net	(7,140,000)	(493,000)	(6,188,000)
Net cash provided by (used in) operating activities	(1,373,000)	4,890,000	7,984,000
INVESTING ACTIVITIES
Purchase of investment securities — available for sale	(36,519,000)	(18,084,000)	(45,427,000)
Purchase of investment securities — held to maturity	(9,359,000)	(2,257,000)	(5,746,000)
Proceeds from maturities of investment securities — available for sale	36,215,000	23,559,000	16,299,000
Proceeds from maturities of investment securities — held to maturity	4,985,000	3,007,000	3,651,000
Proceeds from sales of investment securities — available for sale	0	3,374,000	9,466,000
Purchase of regulatory stock	(9,979,000)	(13,557,000)	(18,681,000)
Proceeds from redemption of regulatory stock	9,143,000	14,092,000	18,836,000
Long-term loans originated	(301,210,000)	(205,603,000)	(155,191,000)
Principal collected on long-term loans	212,179,000	185,054,000	181,582,000
Purchases of premises and equipment	(1,325,000)	(2,821,000)	(2,144,000)
Proceeds from sale of other real estate owned	63,000	214,000	46,000
Proceeds from life insurance policies	490,000	0	0
Net cash provided by (used in) investing activities	(95,317,000)	(13,022,000)	2,691,000
FINANCING ACTIVITIES
Net increase in deposit balances	94,407,000	11,342,000	1,226,000
Net increase (decrease) in other short-term borrowings	2,290,000	(18,617,000)	(8,055,000)
Principal borrowings on advances from Federal Home Loan Bank	36,050,000	22,527,000	12,492,000
Principal repayments on advances from Federal Home Loan Bank	(24,729,000)	(15,580,000)	(12,000,000)
Principal payments on financing lease liabilities	(203,000)	(173,000)	0
Stock options exercised	78,000	99,000	61,000
Purchases of treasury stock	(151,000)	(2,550,000)	(2,346,000)
Common stock dividend paid	(1,716,000)	(1,642,000)	(1,347,000)
Net cash provided by (used in) financing activities	106,026,000	(4,594,000)	(9,969,000)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	9,336,000	(12,726,000)	706,000
CASH AND CASH EQUIVALENTS AT JANUARY 1	22,168,000	34,894,000	34,188,000
CASH AND CASH EQUIVALENTS AT DECEMBER 31	$ 31,504,000	$ 22,168,000	$ 34,894,000

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BUSINESS AND NATURE OF OPERATIONS: AmeriServ Financial, Inc. (the Company) is a bank holding company, headquartered in Johnstown, Pennsylvania. Through its banking subsidiary, the Company operates 16 banking locations in five southwestern Pennsylvania counties and Hagerstown, Maryland. These branches provide a full range of consumer, mortgage, and commercial financial products. In a press release dated January 15, 2021, the Company announced the execution of a definitive agreement whereby AmeriServ will acquire a branch and deposit customers from two locations in southwestern Pennsylvania of Citizen’s Neighborhood Bank (CNB), an operating division of Riverview Bank. The transaction is subject to regulatory approvals and satisfaction of customary closing conditions and is expected to close in the second quarter of 2021. The AmeriServ Trust and Financial Services Company (the Trust Company) offers a complete range of trust and financial services and administers assets valued at approximately $2.5 billion that are not recognized on the Company’s Consolidated Balance Sheets at December 31, 2020. PRINCIPLES OF CONSOLIDATION: The consolidated financial statements include the accounts of AmeriServ Financial, Inc. and its wholly-owned subsidiaries, AmeriServ Financial Bank (the Bank), the Trust Company, and AmeriServ Life Insurance Company (AmeriServ Life). The Bank is a Pennsylvania state-chartered full service bank with 15 locations in Pennsylvania and 1 location in Maryland. AmeriServ Life was a captive insurance company that engaged in underwriting as a reinsurer of credit life and disability insurance. New business ceased being generated by AmeriServ Life in 2005. Since that time, outstanding insurance policies have been running off, and the final policy has expired. On September 30, 2020, the Arizona Corporation Commission approved the Articles of Dissolution for AmeriServ Life. The remaining assets of AmeriServ Life were transferred to AmeriServ Financial, Inc. and the subsidiary was formally closed on December 31, 2020. In addition, the Parent Company is an administrative group that provides support in such areas as audit, finance, investments, loan review, general services, and marketing. Intercompany accounts and transactions have been eliminated in preparing the Consolidated Financial Statements. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (generally accepted accounting principles, or GAAP) requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results may differ from these estimates and the differences may be material to the Consolidated Financial Statements. The Company’s most significant estimates relate to the allowance for loan losses, goodwill, income taxes, investment securities, pension, and the fair value of financial instruments. INVESTMENT SECURITIES: Securities are classified at the time of purchase as investment securities held to maturity if it is management’s intent and the Company has the ability to hold the securities until maturity. These held to maturity securities are carried on the Company’s books at cost, adjusted for amortization of premium and accretion of discount which is computed using the level yield method which approximates the effective interest method. Alternatively, securities are classified as available for sale if it is management’s intent at the time of purchase to hold the securities for an indefinite period of time and/or to use the securities as part of the Company’s asset/liability management strategy. Securities classified as available for sale include securities which may be sold to effectively manage interest rate risk exposure, prepayment risk, and other factors (such as liquidity requirements). These available for sale securities are reported at fair value with unrealized aggregate appreciation/depreciation excluded from income and credited/charged to accumulated other comprehensive income/loss within stockholders’ equity on a net of tax basis. Any securities classified as trading assets are reported at fair value with unrealized aggregate appreciation/depreciation included in income on a net of tax basis. The Company does not engage in trading activity. Realized gains or losses on securities sold are computed upon the adjusted cost of the specific securities sold. Available-for-sale and held-to-maturity securities are reviewed quarterly for possible other-than-temporary impairment. The review includes an analysis of the facts and circumstances of each individual investment such as the severity of loss, the length of time the fair value has been below cost, the expectation for that security’s performance, the creditworthiness of the issuer and the Company’s intent and ability to hold the security to recovery. The Company believes the unrealized losses on certain securities within the investments portfolio are primarily a result of increases in market yields from the time of purchase. In general, as market yields rise, the value of securities will decrease; as market yields fall, the fair value of securities will increase. Management generally views changes in fair value caused by changes in interest rates as temporary; therefore, these securities have not been classified as other-than-temporarily impaired. Management has also concluded that based on current information we expect to continue to receive scheduled interest payments as well as the entire principal balance. Furthermore, management does not intend to sell these securities and does not believe it will be required to sell these securities before they recover in value. Additionally, the Company holds equity securities which are comprised of mutual funds held within a rabbi trust for the executive deferred compensation plan. Such securities are reported at fair value within other assets on the Consolidated Balance Sheets. Unrealized holding gains and losses on equity securities are included in earnings. FEDERAL HOME LOAN BANK STOCK: The Bank is a member of the Federal Home Loan Bank of Pittsburgh (FHLB) and as such, is required to maintain a minimum investment in stock of the FHLB that varies with the level of advances outstanding with the FHLB. The stock is bought from and sold to the FHLB based upon its $100 par value. The stock does not have a readily determinable fair value and as such is classified as restricted stock, carried at cost and evaluated for impairment by management. The stock’s value is determined by the ultimate recoverability of the par value rather than by recognizing temporary declines. The determination of whether the par value will ultimately be recovered is influenced by criteria such as the following: (1) the significance of the decline in net assets of the FHLB as compared to the capital stock amount and the length of time any such situation has persisted; (2) commitments by the FHLB to make payments required by law or regulation and the level of such payments in relation to the operating performance; (3) the impact of legislative and regulatory changes on the customer base of FHLB; and (4) the liquidity position of the FHLB. Management evaluated the stock and concluded that the stock was not impaired for the periods presented herein. LOANS: Interest income is recognized using the level yield method related to principal amounts outstanding. The Company discontinues the accrual of interest income when loans become 90 days past due in either principal or interest. In addition, if circumstances warrant, the accrual of interest may be discontinued prior to 90 days. Payments received on non-accrual loans are credited to principal until full recovery of principal has been recognized; or the loan has been returned to accrual status. The only exception to this policy is for residential mortgage loans wherein interest income is recognized on a cash basis as payments are received. A non-accrual commercial loan is placed on accrual status after becoming current and remaining current for twelve consecutive payments. Residential mortgage loans are placed on accrual status upon becoming current. LOAN FEES: Loan origination and commitment fees, net of associated direct costs, are deferred and amortized into interest and fees on loans over the loan or commitment period. Fee amortization is determined by the effective interest method. LOANS HELD FOR SALE: Certain newly originated residential mortgage loans are classified as held for sale, because it is management’s intent to sell these residential mortgage loans. The residential mortgage loans held for sale are carried at the lower of aggregate cost or fair value. TRANSFERS OF FINANCIAL ASSETS: Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company; (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets; and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. PREMISES AND EQUIPMENT: Premises and equipment are stated at cost less accumulated depreciation and amortization. Land is carried at cost. Depreciation is charged to operations over the estimated useful lives of the premises and equipment using the straight-line method with a half-year convention. Useful lives of up to 30 years for buildings and up to 10 years for equipment are utilized. Leasehold improvements are amortized using the straight-line method over the terms of the respective leases or useful lives of the improvements, whichever is shorter. Maintenance, repairs, and minor alterations are charged to current operations as expenditures are incurred. LEASES: The Company has operating and financing leases for several office locations and equipment. Generally, the underlying lease agreements do not contain any material residual value guarantees or material restrictive covenants. Many of our leases include both lease (e.g., minimum rent payments) and non-lease components, such as common area maintenance charges, utilities, real estate taxes, and insurance. The Company has elected to account for the variable non-lease components separately from the lease component. Such variable non-lease components are reported in net occupancy expense on the Consolidated Statements of Operations when incurred. These variable non-lease components were excluded from the calculation of the present value of the remaining lease payments, therefore, they are not included in the right-of-use assets and lease liabilities reported on the Consolidated Balance Sheets. Certain of the Company’s leases contain options to renew the lease after the initial term. Management considers the Company’s historical pattern of exercising renewal options on leases and the performance of the leased locations, when determining whether it is reasonably certain that the leases will be renewed. If management concludes that there is reasonable certainty about the renewal option, it is included in the calculation of the remaining term of each applicable lease. The discount rate utilized in calculating the present value of the remaining lease payments for each lease was the Federal Home Loan Bank of Pittsburgh advance rate corresponding to the remaining maturity of the lease. Under Topic 842, the lessee can elect to not record on the Consolidated Balance Sheets a lease whose term is twelve months or less and does not include a purchase option that the lessee is reasonably certain to exercise. As of December 31, 2020, the Company had no short-term leases. As of December 31, 2019, the Company had one short-term equipment lease which it has elected to not record on the Consolidated Balance Sheets. ALLOWANCE FOR LOAN LOSSES AND CHARGE-OFF PROCEDURES: As a financial institution, which assumes lending and credit risks as a principal element of its business, the Company anticipates that credit losses will be experienced in the normal course of business. Accordingly, the Company consistently applies a comprehensive methodology and procedural discipline to perform an analysis which is updated on a quarterly basis at the Bank level to determine both the adequacy of the allowance for loan losses and the necessary provision for loan losses to be charged against earnings. This methodology includes: · Review of all impaired commercial and commercial real estate loans to determine if any specific reserve allocations are required on an individual loan basis. In addition, consumer and residential mortgage loans with a balance of $150,000 or more are evaluated for impairment and specific reserve allocations are established, if applicable. All required specific reserve allocations are based on careful analysis of the loan’s performance, the related collateral value, cash flow considerations and the financial capability of any guarantor. For impaired loans the measurement of impairment may be based upon (1) the present value of expected future cash flows discounted at the loan’s effective interest rate; (2) the observable market price of the impaired loan; or (3) the fair value of the collateral of a collateral dependent loan. · The application of formula driven reserve allocations for all commercial and commercial real estate loans by using a three-year migration analysis of net losses incurred within each risk grade for the entire commercial loan portfolio. The difference between estimated and actual losses is reconciled through the nature of the migration analysis. · The application of formula driven reserve allocations to consumer and residential mortgage loans which are based upon historical net charge-off experience for those loan types. The residential mortgage loan and consumer loan allocations are based upon the Company’s three-year historical average of actual loan net charge-offs experienced in each of those categories. · The application of formula driven reserve allocations to all outstanding loans is based upon review of historical losses and qualitative factors, which include but are not limited to, economic trends, delinquencies, levels of non-accrual and TDR loans, concentrations of credit, trends in loan volume, experience and depth of management, examination and audit results, effects of any changes in lending policies and trends in policy, financial information and documentation exceptions. · Management recognizes that there may be events or economic factors that have occurred affecting specific borrowers or segments of borrowers that may not yet be fully reflected in the information that the Company uses for arriving at reserves for a specific loan or portfolio segment. Therefore, the Company believes that there is estimation risk associated with the use of specific and formula driven allowances. After completion of this process, a formal meeting of the Loan Loss Reserve Committee is held to evaluate the adequacy of the reserve. When it is determined that the prospects for recovery of the principal of a loan have significantly diminished, the loan is charged against the allowance account; subsequent recoveries, if any, are credited to the allowance account. In addition, non-accrual and large delinquent loans are reviewed monthly to determine potential losses. The Company’s policy is to individually review, as circumstances warrant, its commercial and commercial mortgage loans to determine if a loan is impaired. At a minimum, credit reviews are mandatory for all commercial and commercial mortgage loan relationships with aggregate balances in excess of $1,000,000 within a 12‑month period. The Company defines classified loans as those loans rated substandard or doubtful. The Company has also identified three pools of small dollar value homogeneous loans which are evaluated collectively for impairment. These separate pools are for small business relationships with aggregate balances of $250,000 or less, residential mortgage loans and consumer loans. Individual loans within these pools are reviewed and evaluated for specific impairment if factors such as significant delinquency in payments of 90 days or more, bankruptcy, or other negative economic concerns indicate impairment. ALLOWANCE FOR UNFUNDED LOAN COMMITMENTS AND LETTERS OF CREDIT: The allowance for unfunded loan commitments and letters of credit is maintained at a level believed by management to be sufficient to absorb estimated losses related to these unfunded credit facilities. The determination of the adequacy of the allowance is based on periodic evaluations of the unfunded credit facilities including an assessment of the probability of commitment usage, credit risk factors for loans outstanding to these same customers and the terms and expiration dates of the unfunded credit facilities. Net adjustments to the allowance for unfunded loan commitments and letters of credit are provided for in the unfunded commitment reserve expense line item within other expense in the Consolidated Statements of Operations and a separate reserve is recorded within the other liabilities line item of the Consolidated Balance Sheets. BANK-OWNED LIFE INSURANCE: The Company has purchased life insurance policies on certain employees. These policies are recorded on the Consolidated Balance Sheets at their cash surrender value, or the amount that can be realized. Income from these policies and changes in the cash surrender value are recorded in bank owned life insurance within non-interest income. Additionally, income is accrued on certain policies that have reached the minimum floor rate of return. This guaranteed portion of income is not added to the cash surrender value of the policy until the policy anniversary date and is reported in other assets on the Consolidated Balance Sheets. INTANGIBLE ASSETS: Goodwill arising from business combinations represents the value attributable to unidentifiable intangible elements in the business acquired. The Company tests goodwill for impairment on at least an annual basis. This approach could cause more volatility in the Company’s reported net income because impairment losses, if any, could occur irregularly and in varying amounts. EARNINGS PER COMMON SHARE: Basic earnings per share include only the weighted average common shares outstanding. Diluted earnings per share include the weighted average common shares outstanding and any potentially dilutive common stock equivalent shares in the calculation. Treasury shares are excluded for earnings per share purposes. Options to purchase 139,759, 12,000, and 5,000 shares of common stock were outstanding during 2020, 2019 and 2018, respectively, but were not included in the computation of diluted earnings per common share because to do so would be anti-dilutive. Exercise prices of anti-dilutive options to purchase common stock outstanding were $3.18-$4.22, $4.19-$4.22, and $4.22 during 2020, 2019 and 2018, respectively. YEAR ENDED DECEMBER 31, 2020 2019 2018 (IN THOUSANDS, EXCEPT PER SHARE DATA) Numerator: Net income $ 4,598 $ 6,028 $ 7,768 Denominator: Weighted average common shares outstanding (basic) 17,053 17,359 17,933 Effect of stock options 10 81 104 Weighted average common shares outstanding (diluted) 17,063 17,440 18,037 Earnings per common share: Basic $ 0.27 $ 0.35 $ 0.43 Diluted 0.27 0.35 0.43 STOCK-BASED COMPENSATION: The Company uses the modified prospective method for accounting of stock-based compensation. The fair value of each option grant is estimated on the grant date using the Binomial or Black-Scholes option pricing model and the expense is recognized ratably over the service period. Forfeitures are recognized as they occur. See Note 19 for details on the assumptions used. ACCUMULATED OTHER COMPREHENSIVE LOSS: The Company presents the components of other comprehensive income (loss) in the Consolidated Statements of Comprehensive Income (Loss). These components are comprised of the change in the defined benefit pension obligation and the unrealized holding gains (losses) on available for sale securities, net of any reclassification adjustments for realized gains and losses. CONSOLIDATED STATEMENT OF CASH FLOWS: On a consolidated basis, cash and cash equivalents include cash and due from depository institutions, interest bearing deposits, and short-term investments in both money market funds and commercial paper. The Company made $315,000 in income tax payments in 2020; $785,000 in 2019; and $875,000 in 2018. The Company had non-cash transfers to other real estate owned (OREO) in the amounts of $40,000 in 2020; $75,000 in 2019; and $166,000 in 2018. During 2020, the Company entered into two new financing leases, one related to office equipment and the other to a branch location, and recorded a right-of-use asset and lease liability of $149,000. As a result of the adoption of ASU 2016-02, Leases (Topic 842) as of January 1, 2019, the Company had non-cash transactions associated with the recognition of the right-of-use assets and lease liabilities. Specifically, the Company recognized a right-of-use asset and lease liability of $932,000 related to operating leases and a right-of-use asset and lease liability of $3.3 million related to financing leases. In addition, as a result of the adoption of ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , the Company had a non-cash transaction in the amount of $640,000 associated with the recognition of a receivable for wealth management fees as of December 31, 2019. The Company also had a non-cash transfer of the AMT credit carryforward to other assets in the amount of $287,000 in 2018. The Company made total interest payments of $11,040,000 in 2020; $13,779,000 in 2019; and $11,298,000 in 2018. INCOME TAXES: Deferred tax assets or liabilities are computed based on the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate. Deferred income tax expenses or credits are based on the changes in the corresponding asset or liability from period to period. Deferred tax assets are reduced, if necessary, by the amounts of such benefits that are not expected to be realized based upon available evidence. INTEREST RATE CONTRACTS: The Company recognizes all derivatives as either assets or liabilities on the Consolidated Balance Sheets and measures those instruments at fair value. For derivatives designated as fair value hedges, changes in the fair value of the derivative and hedged item related to the hedged risk are recognized in earnings. Changes in fair value of derivatives designated and accounted as cash flow hedges, to the extent they are effective as hedges, are recorded in “Other Comprehensive Income,” net of deferred taxes and are subsequently reclassified to earnings when the hedged transaction affects earnings. Any hedge ineffectiveness would be recognized in the income statement line item pertaining to the hedged item. The Company periodically enters into derivative instruments to meet the financing, interest rate and equity risk management needs of its customers. Upon entering into these instruments to meet customer needs, the Company enters into offsetting positions to minimize interest rate and equity risk to the Company. These derivative financial instruments are reported at fair value with any resulting gain or loss recorded in current period earnings. These instruments and their offsetting positions are recorded in other assets and other liabilities on the Consolidated Balance Sheets. PENSION: Pension costs and liabilities are dependent on assumptions used in calculating such amounts. These assumptions include discount rates, benefits earned, interest costs, expected return on plan assets, mortality rates, and other factors. In accordance with GAAP, actual results that differ from the assumptions are accumulated and amortized over future periods and, therefore, generally affect recognized expense and the recorded obligation of future periods. While management believes that the assumptions used are appropriate, differences in actual experience or changes in assumptions may affect the Company’s pension obligations and future expense. Additionally, pension expense can also be impacted by settlement accounting charges if the amount of employees selected lump sum distributions exceed the total amount of service and interest component costs of the net periodic pension cost in a particular year. The service cost component of net periodic benefit cost is determined by aggregating the product of the discounted cash flows of the plan’s service cost for each year and an individual spot rate (referred to as the “spot rate” approach). The interest cost component is determined by aggregating the product of the discounted cash flows of the plan’s projected benefit obligations for each year and an individual spot rate. Management believes this methodology is an appropriate measure of the service cost and interest cost as each year’s cash flows are specifically linked to the interest rates of bond payments in the same respective year. Our pension benefits are described further in Note 17 of the Notes to Consolidated Financial Statements. FAIR VALUE OF FINANCIAL INSTRUMENTS: We group our assets at fair value in three levels, based on the markets in which the assets are traded and the reliability of the assumptions used to determine fair value. These levels are: Level I — Valuation is based upon quoted prices for identical instruments traded in active markets. Level II — Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level III — Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect the Company’s own estimates of assumptions that market participants would use in pricing the asset. We base our fair values on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It is our policy to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements, in accordance with the fair value hierarchy in generally accepted accounting principles.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	12 Months Ended
	Dec. 31, 2020
RECENT ACCOUNTING PRONOUNCEMENTS
RECENT ACCOUNTING PRONOUNCEMENTS	2. RECENT ACCOUNTING PRONOUNCEMENTS In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”), which changes the impairment model for most financial assets. This Update is intended to improve financial reporting by requiring timelier recording of credit losses on loans and other financial instruments held by financial institutions and other organizations. The underlying premise of the Update is that financial assets measured at amortized cost should be presented at the net amount expected to be collected, through an allowance for credit losses that is deducted from the amortized cost basis. The allowance for credit losses should reflect management’s current estimate of credit losses that are expected to occur over the remaining life of a financial asset. The income statement will be affected for the measurement of credit losses for newly recognized financial assets, as well as the expected increases or decreases of expected credit losses that have taken place during the period. With certain exceptions, transition to the new requirements will be through a cumulative effect adjustment to opening retained earnings as of the beginning of the first reporting period in which the guidance is adopted. In November 2019, the FASB issued ASU 2019-10, Financial Instruments – Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842) . This update defers the effective date of ASU 2016-13 for SEC filers that are eligible to be smaller reporting companies, non-SEC filers, and all other companies to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company, as a smaller reporting company, has adopted this ASU and continues to evaluate the impact that ASU 2016-13 will have on our consolidated financial statements. We are currently working with an industry leading third-party consultant and software provider to assist us in the implementation of ASU 2016-13. We expect to recognize a one-time cumulative effect adjustment to the allowance for loan losses as of the beginning of the first reporting period in which the new standard is effective, but cannot yet determine the magnitude of any such one-time adjustment or the overall impact of the new guidance on the consolidated financial statements. The overall impact of the amendment will be affected by the portfolio composition and quality at the adoption date as well as economic conditions and forecasts at that time. In January 2020, the FASB issued ASU 2020-4, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, March 2020 , to provide temporary optional expedients and exceptions to the US GAAP guidance on contract modifications to ease the financial reporting burdens of the expected market transition from LIBOR to alternative reference rates, such as Secured Overnight Financing Rate. Entities can elect not to apply certain modification accounting requirements to contracts affected by what the guidance calls reference rate reform, if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. The amendments in this ASU are effective for all entities upon issuance through December 31, 2022. The Company has identified its LIBOR exposure across product categories and is analyzing the risks associated with the LIBOR transition. However, it is too early to predict whether a new rate index replacement and the adoption of this ASU will have a material impact on the Company’s financial statements.

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
	Dec. 31, 2020
REVENUE RECOGNITION
REVENUE RECOGNITION	3. REVENUE RECOGNITION ASU 2014-09, Revenue from Contracts with Customers – Topic 606, requires the Company to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers at the time the transfer of goods or services takes place. Management determined that the primary sources of revenue associated with financial instruments, including interest and fee income on loans and interest on investments, along with certain noninterest revenue sources including net realized gains (losses) on investment securities, mortgage related fees, net gains on loans held for sale, and bank owned life insurance are not within the scope of Topic 606. These sources of revenue cumulatively comprise 79.7% of the total revenue of the Company. Non-interest income within the scope of Topic 606 are as follows: · Wealth management fees – Wealth management fee income is primarily comprised of fees earned from the management and administration of trusts and customer investment portfolios. The Company’s performance obligation is generally satisfied over a period of time and the resulting fees are billed monthly or quarterly, based upon the month end market value of the assets under management. Payment is generally received after month end through a direct charge to customers’ accounts. Due to this delay in payment, a receivable of $825,000 has been established as of December 31, 2020 and is included in other assets on the Consolidated Balance Sheets in order to properly recognize the revenue earned but not yet received. Other performance obligations (such as delivery of account statements to customers) are generally considered immaterial to the overall transactions’ price. Commissions on transactions are recognized on a trade-date basis as the performance obligation is satisfied at the point in time in which the trade is processed. Also included within wealth management fees are commissions from the sale of mutual funds, annuities, and life insurance products. Commissions on the sale of mutual funds, annuities, and life insurance products are recognized when sold, which is when the Company has satisfied its performance obligation. · Service charges on deposit accounts — The Company has contracts with its deposit account customers where fees are charged for certain items or services. Service charges include account analysis fees, monthly service fees, overdraft fees, and other deposit account related fees. Revenue related to account analysis fees and service fees is recognized on a monthly basis as the Company has an unconditional right to the fee consideration. Fees attributable to specific performance obligations of the Company (i.e. overdraft fees, etc.) are recognized at a defined point in time based on completion of the requested service or transaction. · Other non-interest income — Other non-interest income consists of other recurring revenue streams such as safe deposit box rental fees, gain (loss) on sale of other real estate owned, ATM and VISA debit card fees, and other miscellaneous revenue streams. Safe deposit box rental fees are charged to the customer on an annual basis and recognized when billed. However, if the safe deposit box rental fee is prepaid (i.e. paid prior to issuance of annual bill), the revenue is recognized upon receipt of payment. The Company has determined that since rentals and renewals occur consistently over time, revenue is recognized on a basis consistent with the duration of the performance obligation. Gains and losses on the sale of other real estate owned are recognized at the completion of the property sale when the buyer obtains control of the real estate and all the performance obligations of the Company have been satisfied. The Company offers ATM and VISA debit cards to deposit account holders which allows our customers to access their account electronically at ATMs and POS terminals. Fees related to ATM and VISA debit card transactions are recognized when the transactions are completed and the Company has satisfied it performance obligation. The following presents non-interest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, for the years ended December 31, 2020, 2019, and 2018 (in thousands). AT DECEMBER 31, 2020 2019 2018 Non-interest income: In-scope of Topic 606 Wealth management fees $ 10,212 $ 9,730 $ 9,659 Service charges on deposit accounts 903 1,271 1,420 Other 1,708 1,759 1,720 Non-interest income (in-scope of topic 606) 12,823 12,760 12,799 Non-interest income (out-of-scope of topic 606) 3,452 2,013 1,425 Total non-interest income $ 16,275 $ 14,773 $ 14,224

CASH AND DUE FROM DEPOSITORY IN

CASH AND DUE FROM DEPOSITORY INSTITUTIONS	12 Months Ended
	Dec. 31, 2020
CASH AND DUE FROM DEPOSITORY INSTITUTIONS
CASH AND DUE FROM DEPOSITORY INSTITUTIONS	4. CASH AND DUE FROM DEPOSITORY INSTITUTIONS The Federal Reserve reduced reserve requirements to zero as of March 26, 2020. As of December 31, 2019, required federal reserves of $3.0 million were included in “Cash and due from depository institutions” for facilitating the implementation of monetary policy by the Federal Reserve System. Such required reserves were computed by applying prescribed ratios to the classes of average deposit balances. They were held in the form of vault cash and a depository amount held with the Federal Reserve Bank.

INVESTMENT SECURITIES

INVESTMENT SECURITIES	12 Months Ended
	Dec. 31, 2020
INVESTMENT SECURITIES
INVESTMENT SECURITIES	5. INVESTMENT SECURITIES The cost basis and fair values of investment securities are summarized as follows: Investment securities available for sale: DECEMBER 31, 2020 GROSS GROSS UNREALIZED UNREALIZED FAIR COST BASIS GAINS LOSSES VALUE (IN THOUSANDS) U.S. Agency $ 2,971 $ 181 $ — $ 3,152 U.S. Agency mortgage-backed securities 65,398 2,533 (18) 67,913 Municipal 19,000 1,348 — 20,348 Corporate bonds 52,315 666 (229) 52,752 Total $ 139,684 $ 4,728 $ (247) $ 144,165 Investment securities held to maturity: DECEMBER 31, 2020 GROSS GROSS UNREALIZED UNREALIZED FAIR COST BASIS GAINS LOSSES VALUE (IN THOUSANDS) U.S. Agency mortgage-backed securities $ 8,119 $ 369 $ — $ 8,488 Municipal 30,076 2,455 (49) 32,482 Corporate bonds and other securities 6,027 113 (4) 6,136 Total $ 44,222 $ 2,937 $ (53) $ 47,106 Investment securities available for sale: DECEMBER 31, 2019 GROSS GROSS UNREALIZED UNREALIZED FAIR COST BASIS GAINS LOSSES VALUE (IN THOUSANDS) U.S. Agency $ 5,084 $ 32 $ — $ 5,116 U.S. Agency mortgage-backed securities 80,046 1,681 (94) 81,633 Municipal 14,678 509 (17) 15,170 Corporate bonds 39,769 342 (281) 39,830 Total $ 139,577 $ 2,564 $ (392) $ 141,749 Investment securities held to maturity: DECEMBER 31, 2019 GROSS GROSS UNREALIZED UNREALIZED FAIR COST BASIS GAINS LOSSES VALUE (IN THOUSANDS) U.S. Agency mortgage-backed securities $ 9,466 $ 251 $ (4) $ 9,713 Municipal 24,438 941 (53) 25,326 Corporate bonds and other securities 6,032 58 (47) 6,043 Total $ 39,936 $ 1,250 $ (104) $ 41,082 Maintaining investment quality is a primary objective of the Company’s investment policy which, subject to certain limited exceptions, prohibits the purchase of any investment security below a Moody’s Investors Service or Standard & Poor’s rating of A. At December 31, 2020, 42.2% of the portfolio was rated AAA as compared to 53.4% at December 31, 2019. Approximately 15.2% and 9.1% of the portfolio was rated below A or unrated on December 31, 2020 and 2019, respectively. The Company and its subsidiaries, collectively, did not hold securities of any single issuer, excluding U.S. agencies, that exceeded 10% of shareholders’ equity at December 31, 2020. The book value of securities, both available for sale and held to maturity, pledged to secure public and trust deposits was $111,694,000 at December 31, 2020 and $117,076,000 at December 31, 2019. The Company sold no investment securities during 2020 and realized $118,000 of gross investment security gains in 2019 and $15,000 of gross investment security gains and $454,000 of gross investment security losses in 2018. On a net basis, the realized gain for 2019 was $93,000 after factoring in tax expense of $25,000 and the realized loss for 2018 was $347,000 after factoring in a tax benefit of $92,000. Proceeds from sales of investment securities available for sale were $3.4 million for 2019 and $9.5 million for 2018. The following table sets forth the contractual maturity distribution of the investment securities, cost basis and fair market values, and the weighted average yield for each type and range of maturity as of December 31, 2020. Yields are not presented on a tax-equivalent basis, but are based upon the cost basis and are weighted for the scheduled maturity. The Company’s consolidated investment securities portfolio had an effective duration of approximately 2.11 years. The weighted average expected maturity for available for sale securities at December 31, 2020 for U.S. agency, U.S. agency mortgage-backed, corporate bond, and municipal securities was 11.28, 3.66, 4.38, and 4.99 years, respectively. The weighted average expected maturity for held to maturity securities at December 31, 2020 for U.S. agency mortgage-backed, corporate bond/other securities, and municipal securities 4.52, 2.40, and 6.21 years, respectively. Investment securities available for sale: AT DECEMBER 31, 2020 TOTAL U.S. AGENCY INVESTMENT MORTGAGE- SECURITIES CORPORATE BACKED AVAILABLE FOR U. S. AGENCY MUNICIPAL BONDS SECURITIES SALE (IN THOUSANDS, EXCEPT YIELDS) COST BASIS Within 1 year $ — — % $ 598 2.14 % $ 4,459 2.64 % $ — — % $ 2.58 % After 1 year but within 5 years — — 7,104 2.76 15,119 3.18 2.76 After 5 years but within 10 years 741 2.69 11,298 3.01 32,087 2.60 3.62 After 10 years but within 15 years — — — — 650 3.92 15,481 2.70 2.75 Over 15 years 2,230 2.68 — — — — 41,627 2.31 2.33 Total $ 2,971 2.68 $ 19,000 2.89 $ 52,315 $ 65,398 2.46 $ 139,684 2.93 FAIR VALUE Within 1 year $ — $ 601 $ $ — $ After 1 year but within 5 years — 7,483 After 5 years but within 10 years 780 12,264 After 10 years but within 15 years — — 16,269 Over 15 years 2,372 — — 42,952 Total $ 3,152 $ 20,348 $ 52,752 $ 67,913 $ 144,165 Investment securities held to maturity: AT DECEMBER 31, 2020 U.S. AGENCY MORTGAGE- TOTAL INVESTMENT BACKED CORPORATE SECURITIES SECURITIES MUNICIPAL BONDS AND OTHER HELD TO MATURITY (IN THOUSANDS, EXCEPT YIELDS) COST BASIS Within 1 year $ — — % $ 2.84 % $ 2.95 % $ 2.94 % After 1 year but within 5 years 2.83 3.25 3.47 3.28 After 5 years but within 10 years — — 3.38 — — 3.38 After 10 years but within 15 years 3.55 3.01 — — 3.12 Over 15 years 2.01 3.50 — — 2.09 Total $ 2.44 $ 3.28 $ 3.21 $ 3.11 FAIR VALUE Within 1 year $ — $ $ $ After 1 year but within 5 years After 5 years but within 10 years — — After 10 years but within 15 years — Over 15 years — Total $ $ $ $ The following table presents information concerning investments with unrealized losses as of December 31, 2020 (in thousands): Total investment securities: DECEMBER 31, 2020 LESS THAN 12 MONTHS 12 MONTHS OR LONGER TOTAL FAIR UNREALIZED FAIR UNREALIZED FAIR UNREALIZED VALUE LOSSES VALUE LOSSES VALUE LOSSES U.S. Agency $ — $ — $ — $ — $ — $ — U.S. Agency mortgage-backed securities 6,394 (17) 123 (1) 6,517 (18) Municipal — — 751 (49) 751 (49) Corporate bonds and other securities 13,083 (162) 7,929 (71) 21,012 (233) Total $ 19,477 $ (179) $ 8,803 $ (121) $ 28,280 $ (300) The following table presents information concerning investments with unrealized losses as of December 31, 2019 (in thousands): Total investment securities: DECEMBER 31, 2019 LESS THAN 12 MONTHS 12 MONTHS OR LONGER TOTAL FAIR UNREALIZED FAIR UNREALIZED FAIR UNREALIZED VALUE LOSSES VALUE LOSSES VALUE LOSSES U.S. Agency $ — $ — $ — $ — $ — $ — U.S. Agency mortgage-backed securities 7,084 (23) 8,562 (75) 15,646 (98) Municipal 2,269 (18) 1,123 (52) 3,392 (70) Corporate bonds and other securities 7,797 (85) 11,783 (243) 19,580 (328) Total $ $ (126) $ $ (370) $ 38,618 $ (496) The unrealized losses are primarily a result of increases in market yields from the time of purchase. In general, as market yields rise, the value of securities will decrease; as market yields fall, the fair value of securities will increase. There are 41 positions that are considered temporarily impaired at December 31, 2020. Management generally views changes in fair value caused by changes in interest rates as temporary; therefore, these securities have not been classified as other-than-temporarily impaired. Management has also concluded that based on current information we expect to continue to receive scheduled interest payments as well as the entire principal balance. Furthermore, management does not intend to sell these securities and does not believe it will be required to sell these securities before they recover in value or mature. The interest rate environment and market yields can also have a significant impact on the yield earned on mortgage-backed securities (MBS). Prepayment speed assumptions are an important factor to consider when evaluating the returns on an MBS. Generally, as interest rates decline, borrowers have more incentive to refinance into a lower rate, so prepayments will rise. Conversely, as interest rates increase, prepayments will decline. When an MBS is purchased at a premium, the yield will decrease as prepayments increase and the yield will increase as prepayments decrease. As of December 31, 2020, the Company had low premium risk as the book value of our mortgage-backed securities purchased at a premium was only 101.2% of the par value. As of December 31, 2020 and 2019, the Company reported $443,000 and $366,000, respectively, of equity securities within other assets on the Consolidated Balance Sheets. These equity securities are held within a nonqualified deferred compensation plan in which a select group of executives of the Company can participate. An eligible executive can defer a certain percentage of their current salary to be placed into the plan and held within a rabbi trust. The assets of the rabbi trust are invested in various publicly listed mutual funds. The gain or loss on the equity securities (both realized and unrealized) is reported within other income on the Consolidated Statements of Operations. The realized gain on equity securities was $2,000 and $13,000 during 2020 and 2019, respectively. The unrealized gain was $3,000 in 2020 and the unrealized loss was $5,000 in 2019. Additionally, the Company has recognized a deferred compensation liability, which is equal to the balance of the equity securities and is reported within other liabilities on the Consolidated Balance Sheets.

LOANS

LOANS	12 Months Ended
	Dec. 31, 2020
LOANS
LOANS	6. LOANS The loan portfolio of the Company consisted of the following: AT DECEMBER 31, 2020 2019 (IN THOUSANDS) Commercial: Commercial and industrial $ 151,162 $ 173,922 Paycheck Protection Program (PPP) 58,344 — Commercial loans secured by owner occupied real estate 95,486 91,655 Commercial loans secured by non-owner occupied real estate 400,751 363,635 Real estate − residential mortgage 249,989 235,239 Consumer 16,363 18,255 Loans, net of unearned income $ 972,095 $ Loan balances at December 31, 2020 and 2019 are net of unearned income of $1,202,000 and $384,000, respectively. The unearned income balance at December 31, 2020 includes $755,000 of unrecognized fee income from PPP loan originations. Real estate construction loans comprised 7.0% and 4.9% of total loans net of unearned income at December 31, 2020 and 2019, respectively. The Company has no exposure to subprime mortgage loans in either the loan or investment portfolios. The Company has no direct loan exposure to foreign countries. Additionally, the Company has no significant industry lending concentrations. As of December 31, 2020 and 2019, loans to customers engaged in similar activities and having similar economic characteristics, as defined by standard industrial classifications, did not exceed 10% of total loans. Additionally, the majority of the Company’s lending occurs within a 250-mile radius of the Johnstown market. In the ordinary course of business, the subsidiaries have transactions, including loans, with their officers, directors, and their affiliated companies. In management’s opinion, these transactions were on substantially the same terms as those prevailing at the time for comparable transactions with unaffiliated parties and do not involve more than the normal credit risk. These loans totaled $615,000 and $544,000 at December 31, 2020 and 2019, respectively. The COVID-19 pandemic is a fluid situation and continues to evolve, impacting the way many businesses operate. The pandemic and its associated impacts on trade (including supply chains and export levels), travel, employee productivity, unemployment, and consumer spending has resulted in less economic activity and significant volatility and disruption. Certain loans within our commercial and commercial real estate portfolios have been disproportionately adversely affected by the pandemic. Due to mandatory lockdowns and travel restrictions, certain industries, such as hospitality, travel, food service and restaurants and bars, have suffered as a result of COVID-19. The following table provides information regarding our potential COVID-19 risk concentrations for commercial and commercial real estate loans by industry type at December 31, 2020 (in thousands). Paycheck Commercial loans Commercial loans Commercial Protection secured by owner secured by non-owner and industrial Program occupied real estate occupied real estate Total 1-4 unit residential $ 1,450 $ — $ 105 $ 6,139 $ 7,694 Multifamily/apartments/student housing — — 469 66,879 67,348 Office 33,525 6,872 10,095 37,164 87,656 Retail 8,080 1,542 21,180 124,325 155,127 Industrial/manufacturing/warehouse 87,021 26,222 18,255 38,814 170,312 Hotels 329 837 — 41,779 42,945 Eating and drinking places 769 13,479 4,390 1,925 20,563 Amusement and recreation 190 46 3,307 38 3,581 Mixed use — — 2,411 65,585 67,996 Other 19,798 9,346 35,274 18,103 82,521 Total $ 151,162 $ 58,344 $ 95,486 $ 400,751 $ 705,743 Paycheck Protection Program The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, was signed into law on March 27, 2020, and provides emergency economic relief to individuals and businesses impacted by the COVID-19 pandemic. The CARES Act authorized the Small Business Administration (SBA) to temporarily guarantee loans under a new 7(a) program called the Paycheck Protection Program (PPP). As a qualified SBA lender, the Company was automatically authorized to originate PPP loans. An eligible business could apply for a PPP loan up to the lesser of: (1) 2.5 times its average monthly “payroll costs;” or (2) $10.0 million. PPP loans have: (a) an interest rate of 1.0%; (b) a two-year (if originated prior to June 5, 2020) or five-year (if originated after June 5, 2020) loan term to maturity; and (c) principal and interest payments deferred for six months from the date of disbursement. The SBA will guarantee 100% of the PPP loans made to eligible borrowers pursuant to standards as defined by the SBA. The entire principal amount of the borrower’s PPP loan, including any accrued interest, is eligible to be reduced by the loan forgiveness amount under the PPP so long as employee and compensation levels of the business are maintained and at least 60% of the loan proceeds are used for payroll expenses with the remaining loan proceeds being used for other qualifying expenses such as interest on mortgages, rent, and utilities. As of December 31, 2020, the Company had 364 PPP loans outstanding totaling $58.3 million and has recorded a total of $1.9 million of processing fee income and interest income from PPP lending activity. Also, there is approximately $755,000 of PPP processing fees that will be amortized into income over the time period that the loans remain on our balancec sheet or until the PPP loan is forgiven at which time the remaining fee will be recognized immediately as income.

ALLOWANCE FOR LOAN LOSSES

ALLOWANCE FOR LOAN LOSSES	12 Months Ended
	Dec. 31, 2020
ALLOWANCE FOR LOAN LOSSES
ALLOWANCE FOR LOAN LOSSES	7. ALLOWANCE FOR LOAN LOSSES The following table summarizes the rollforward of the allowance for loan losses by portfolio segment (in thousands). BALANCE AT CHARGE- PROVISION BALANCE AT DECEMBER 31, 2019 OFFS RECOVERIES (CREDIT) DECEMBER 31, 2020 Commercial $ 3,951 $ (111) $ 4 $ (372) $ 3,472 Commercial loans secured by non-owner occupied real estate 3,119 — 44 2,210 5,373 Real estate − residential mortgage 1,159 (233) 62 304 1,292 Consumer 126 (143) 68 64 115 Allocation for general risk 924 — — 169 1,093 Total $ 9,279 $ (487) $ 178 $ 2,375 $ 11,345 BALANCE AT CHARGE- PROVISION BALANCE AT DECEMBER 31, 2018 OFFS RECOVERIES (CREDIT) DECEMBER 31, 2019 Commercial $ 3,057 $ (9) $ 22 $ 881 $ 3,951 Commercial loans secured by non-owner occupied real estate 3,389 (63) 48 (255) 3,119 Real estate − residential mortgage 1,235 (98) 118 (96) 1,159 Consumer 127 (262) 52 209 126 Allocation for general risk 863 — — 61 924 Total $ 8,671 $ (432) $ 240 $ 800 $ 9,279 BALANCE AT CHARGE- PROVISION BALANCE AT DECEMBER 31, 2017 OFFS RECOVERIES (CREDIT) DECEMBER 31, 2018 Commercial $ 4,298 $ (574) $ 31 $ (698) $ 3,057 Commercial loans secured by non-owner occupied real estate 3,666 — 51 (328) 3,389 Real estate − residential mortgage 1,102 (380) 119 394 1,235 Consumer 128 (251) 61 189 127 Allocation for general risk 1,020 — — (157) 863 Total $ 10,214 $ (1,205) $ 262 $ (600) $ 8,671 For 2020, the Company recorded a $2,375,000 provision expense for loan losses compared to an $800,000 provision expense in 2019. The Company continues to build the allowance for loan losses given the overall economic climate and the uncertainty that exists because of the COVID-19 pandemic. The 2020 provision reflects managements strengthening certain qualitative factors within the allowance for loan losses calculation and downgrades of loan relationships that are reflective of the industries that have been especially negatively impacted from the pandemic, primarily the hospitality industry, and are demonstrating a slow pace of recovery. The effect of these downgrades was an increase in the allowance for the commercial loans secured by non-owner occupied real estate portfolio. The recovery efforts of many of these borrowers experiencing a downgrade stalled during the fourth quarter of 2020 due to the rise in COVID cases which caused additional safety measures and restrictions to be put in place on their businesses. While these borrowers need additional time to recover, we remain encouraged by their efforts to work through the pandemic and signs of improvement in their operations. The decrease in the allowance balance for the commercial loan portfolio is the result of two substantial commercial loans which were previously classified as substandard being upgraded. In addtion, the growth in the allowance balance for residential mortgage loans is the result of the increased origination activity experienced within this portfolio during 2020 given the lower interest rate environment. It should be noted that the 100% SBA guarantee on PPP loans minimizes the level of credit risk associated with the loans. As a result, such loans are assigned a 0% risk weight for purposes of calculating the Bank’s risk-based capital ratios. Therefore, it was deemed appropriate to not allocate any portion of the loan loss reserve for the PPP loans. The Company experienced net loan charge-offs of $309,000, or 0.03% of total loans, in 2020 compared to net loan charge-offs of $192,000, or 0.02% of total loans, in 2019. As a result of the provision expense sharply exceeding net loan charge-offs, the balance in the allowance for loan losses increased by over $2 million in 2020. Overall, non-performing assets totaled $3.3 million, or 0.34% of total loans, at December 31, 2020. The allowance for loan losses provided 341% coverage of non-performing assets, and 1.16% of total loans, at December 31, 2020, compared to 397% coverage of non-performing assets, and 1.05% of total loans, at December 31, 2019. Note that the reserve coverage of total loans, excluding PPP loans, is 1.23% (non-GAAP) at December 31, 2020. See the reconciliation of the non-GAAP measure of the reserve coverage of total loans, excluding PPP loans, within the Allowance and Provision for Loan Losses section of the MD&A. For 2019, the Company recorded an $800,000 provision expense for loan losses compared to a $600,000 provision recovery for 2018, or an increase of $1.4 million between years. The 2019 provision expense reflects the growth within the loan portfolio and the increase in classified loans. Specifically, the 2019 provision expense within the commercial segment was driven by the rating downgrade of a $6.5 million performing commercial and industrial loan to substandard as a result of the unexpected death of a borrower. This downgrade caused a $675,000 increase in the fourth quarter 2019 provision expense. This rating action was prudent due to the inherent uncertainties associated with a large estate liquidation. Additionally, the 2019 provision credit within commercial loans secured by non-owner occupied real estate was driven, primarily, by a relaxation of the economic qualitative factors applied to the Pass rated portion of this loan segment. The Company experienced net loan charge-offs of only $192,000, or 0.02% of total loans, in 2019 compared to net loan charge-offs of $943,000, or 0.11% of total loans, in 2018. Nonperforming assets totaled $2.3 million, or only 0.26% of total loans, at December 31, 2019. The following tables summarize the loan portfolio and allowance for loan losses by the primary segments of the loan portfolio. AT DECEMBER 31, 2020 COMMERCIAL LOANS SECURED BY NON- REAL ESTATE − OWNER OCCUPIED RESIDENTIAL Loans: COMMERCIAL REAL ESTATE MORTGAGE CONSUMER TOTAL (IN THOUSANDS) Individually evaluated for impairment $ 847 $ 8 $ — $ — $ 855 Collectively evaluated for impairment 304,145 400,743 249,989 16,363 971,240 Total loans $ 304,992 $ 400,751 $ 249,989 $ 16,363 $ 972,095 AT DECEMBER 31, 2020 COMMERCIAL LOANS ALLOCATION SECURED BY NON- REAL ESTATE − FOR Allowance OWNER OCCUPIED RESIDENTIAL GENERAL for loan losses: COMMERCIAL REAL ESTATE MORTGAGE CONSUMER RISK TOTAL (IN THOUSANDS) Specific reserve allocation $ 96 $ 8 $ — $ — $ — $ 104 General reserve allocation 3,376 5,365 1,292 115 1,093 11,241 Total allowance for loan losses $ 3,472 $ 5,373 $ 1,292 $ 115 $ 1,093 $ 11,345 AT DECEMBER 31, 2019 COMMERCIAL LOANS SECURED BY NON- REAL ESTATE − OWNER OCCUPIED RESIDENTIAL Loans: COMMERCIAL REAL ESTATE MORTGAGE CONSUMER TOTAL (IN THOUSANDS) Individually evaluated for impairment $ 816 $ 8 $ — $ — $ 824 Collectively evaluated for impairment 264,761 363,627 235,239 18,255 881,882 Total loans $ 265,577 $ 363,635 $ 235,239 $ 18,255 $ 882,706 AT DECEMBER 31, 2019 COMMERCIAL LOANS ALLOCATION SECURED BY NON- REAL ESTATE − FOR Allowance OWNER OCCUPIED RESIDENTIAL GENERAL for loan losses: COMMERCIAL REAL ESTATE MORTGAGE CONSUMER RISK TOTAL (IN THOUSANDS) Specific reserve allocation $ 84 $ 8 $ — $ — $ — $ 92 General reserve allocation 3,867 3,111 1,159 126 924 9,187 Total allowance for loan losses $ 3,951 $ 3,119 $ 1,159 $ 126 $ 924 $ 9,279 The segments of the Company’s loan portfolio are disaggregated into classes that allows management to monitor risk and performance. The loan classes used are consistent with the internal reports evaluated by the Company’s management and Board of Directors to monitor risk and performance within various segments of its loan portfolio. The commercial loan segment includes both the commercial and industrial and the owner occupied commercial real estate loan classes while the remaining segments are not separated into classes as management monitors risk in these loans at the segment level. The residential mortgage loan segment is comprised of first lien amortizing residential mortgage loans and home equity loans secured by residential real estate. The consumer loan segment consists primarily of installment loans and overdraft lines of credit connected with customer deposit accounts. Management evaluates for possible impairment any individual loan in the commercial or commercial real estate segment that is in nonaccrual status or classified as a Troubled Debt Restructure (TDR). In addition, consumer and residential mortgage loans with a balance of $150,000 or more are evaluated for impairment. Loans are considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in evaluating impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Once the determination has been made that a loan is impaired, the determination of whether a specific allocation of the allowance is necessary is measured by comparing the recorded investment in the loan to the fair value of the loan using one of three methods: (a) the present value of expected future cash flows discounted at the loan’s effective interest rate; (b) the loan’s observable market price; or (c) the fair value of the collateral less selling costs for collateral dependent loans. The method is selected on a loan-by-loan basis, with management primarily utilizing either the discounted cash flows or the fair value of collateral method. The evaluation of the need and amount of a specific allocation of the allowance and whether a loan can be removed from impairment status is made on a quarterly basis. The Company’s policy for recognizing interest income on impaired loans does not differ from its overall policy for interest recognition. The need for an updated appraisal on collateral dependent loans is determined on a case-by-case basis. The useful life of an appraisal or evaluation will vary depending upon the circumstances of the property and the economic conditions in the marketplace. A new appraisal is not required if there is an existing appraisal which, along with other information, is sufficient to determine a reasonable value for the property and to support an appropriate and adequate allowance for loan losses. At a minimum, annual documented reevaluation of the property is completed by the Bank’s internal Assigned Risk Department to support the value of the property. When reviewing an appraisal associated with an existing real estate collateral dependent transaction, the Bank’s internal Assigned Risk Department must determine if there have been material changes to the underlying assumptions in the appraisal which affect the original estimate of value. Some of the factors that could cause material changes to reported values include: · the passage of time; · the volatility of the local market; · the availability of financing; · natural disasters; · the inventory of competing properties; · new improvements to, or lack of maintenance of, the subject property or competing properties upon physical inspection by the Bank; · changes in underlying economic and market assumptions, such as material changes in current and projected vacancy, absorption rates, capitalization rates, lease terms, rental rates, sales prices, concessions, construction overruns and delays, zoning changes, etc.; and/or · environmental contamination. The value of the property is adjusted to appropriately reflect the above listed factors and the value is discounted to reflect the value impact of a forced or distressed sale, any outstanding senior liens, any outstanding unpaid real estate taxes, transfer taxes and closing costs that would occur with sale of the real estate. If the Assigned Risk Department personnel determine that a reasonable value cannot be derived based on available information, a new appraisal is ordered. The determination of the need for a new appraisal, versus completion of a property valuation by the Bank’s Assigned Risk Department personnel rests with the Assigned Risk Department and not the originating account officer. The following tables present impaired loans by portfolio segment, segregated by those for which a specific allowance was required and those for which a specific allowance was not necessary. AT DECEMBER 31, 2020 IMPAIRED LOANS WITH IMPAIRED LOANS WITH NO SPECIFIC SPECIFIC ALLOWANCE ALLOWANCE TOTAL IMPAIRED LOANS UNPAID RECORDED RELATED RECORDED RECORDED PRINCIPAL INVESTMENT ALLOWANCE INVESTMENT INVESTMENT BALANCE (IN THOUSANDS) Commercial $ 847 $ 96 $ — $ 847 $ 850 Commercial loans secured by non-owner occupied real estate 8 8 — 8 30 Total impaired loans $ 855 $ 104 $ — $ 855 $ 880 AT DECEMBER 31, 2019 IMPAIRED LOANS WITH IMPAIRED LOANS WITH NO SPECIFIC SPECIFIC ALLOWANCE ALLOWANCE TOTAL IMPAIRED LOANS UNPAID RECORDED RELATED RECORDED RECORDED PRINCIPAL INVESTMENT ALLOWANCE INVESTMENT INVESTMENT BALANCE (IN THOUSANDS) Commercial 816 $ 84 $ — $ 816 $ 816 Commercial loans secured by non-owner occupied real estate $ 8 $ 8 $ — $ 8 $ 30 Total impaired loans $ 824 $ 92 $ — $ 824 $ 846 The following table presents the average recorded investment in impaired loans and related interest income recognized for the periods indicated. YEAR ENDED DECEMBER 31, 2020 2019 2018 (IN THOUSANDS) Average impaired balance: Commercial $ 839 $ 597 $ 228 Commercial loans secured by non-owner occupied real estate 8 10 12 Average investment in impaired loans $ 847 $ 607 $ 240 Interest income recognized: Commercial $ 38 $ 30 $ — Commercial loans secured by non-owner occupied real estate — — — Interest income recognized on a cash basis on impaired loans $ 38 $ 30 $ — Management uses a nine-point internal risk rating system to monitor the credit quality of the overall loan portfolio. The first six categories are considered not criticized. The first five “Pass” categories are aggregated, while the Pass‑6, Special Mention, Substandard and Doubtful categories are disaggregated to separate pools. The criticized rating categories utilized by management generally follow bank regulatory definitions. The Special Mention category includes assets that are currently protected but are potentially weak, resulting in an undue and unwarranted credit risk, but not to the point of justifying a Substandard classification. Loans in the Substandard category have well-defined weaknesses that jeopardize the liquidation of the debt, and have a distinct possibility that some loss will be sustained if the weaknesses are not corrected. All loans greater than 90 days past due, or for which any portion of the loan represents a specific allocation of the allowance for loan losses are placed in Substandard or Doubtful. To help ensure that risk ratings are accurate and reflect the present and future capacity of borrowers to repay a loan as agreed, the Company has a structured loan rating process, which dictates that, at a minimum, credit reviews are mandatory for all commercial and commercial mortgage loan relationships with aggregate balances in excess of $1,000,000 within a 12‑month period. Generally, consumer and residential mortgage loans are included in the Pass categories unless a specific action, such as bankruptcy, delinquency, or death occurs to raise awareness of a possible credit event. The Company’s commercial relationship managers are responsible for the timely and accurate risk rating of the loans in their portfolios at origination and on an ongoing basis. Risk ratings are assigned by the account officer, but require independent review and rating concurrence from the Company’s internal Loan Review Department. The Loan Review Department is an experienced, independent function which reports directly to the Board’s Audit Committee. The scope of commercial portfolio coverage by the Loan Review Department is defined and presented to the Audit Committee for approval on an annual basis. The approved scope of coverage for 2020 required review of a minimum of 40% of the commercial loan portfolio. In addition to loan monitoring by the account officer and Loan Review Department, the Company also requires presentation of all credits rated Pass‑6 with aggregate balances greater than $2,000,000, all credits rated Special Mention or Substandard with aggregate balances greater than $250,000, and all credits rated Doubtful with aggregate balances greater than $100,000 on an individual basis to the Company’s Loan Loss Reserve Committee on a quarterly basis. Additionally, the Asset Quality Task Force, which is a group comprised of senior level personnel, meets monthly to monitor the status of problem loans. The following table presents the classes of the commercial and commercial real estate loan portfolios summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system. AT DECEMBER 31, 2020 SPECIAL PASS MENTION SUBSTANDARD DOUBTFUL TOTAL (IN THOUSANDS) Commercial and industrial $ 134,186 $ 13,722 $ 3,254 $ — $ 151,162 Paycheck Protection Program (PPP) 58,344 — — — 58,344 Commercial loans secured by owner occupied real estate 92,189 2,154 1,143 — 95,486 Commercial loans secured by non-owner occupied real estate 371,815 23,980 4,948 8 400,751 Total $ 656,534 $ 39,856 $ 9,345 $ 8 $ 705,743 AT DECEMBER 31, 2019 SPECIAL PASS MENTION SUBSTANDARD DOUBTFUL TOTAL (IN THOUSANDS) Commercial and industrial $ 161,147 $ 853 $ 11,922 $ — $ 173,922 Commercial loans secured by owner occupied real estate 88,942 1,384 1,329 — 91,655 Commercial loans secured by non-owner occupied real estate 362,027 — 1,600 8 363,635 Total $ 612,116 $ 2,237 $ 14,851 $ 8 $ 629,212 It is generally the policy of the Bank that the outstanding balance of any residential mortgage loan that exceeds 90‑days past due as to principal and/or interest is transferred to non-accrual status and an evaluation is completed to determine the fair value of the collateral less selling costs, unless the balance is minor. A charge down is recorded for any deficiency balance determined from the collateral evaluation. The remaining non-accrual balance is reported as impaired with no specific allowance. It is generally the policy of the Bank that the outstanding balance of any consumer loan that exceeds 90‑days past due as to principal and/or interest is charged off. The following tables present the performing and non-performing outstanding balances of the residential and consumer portfolio classes. AT DECEMBER 31, 2020 NON- PERFORMING PERFORMING TOTAL (IN THOUSANDS) Real estate – residential mortgage $ 247,520 $ 2,469 $ 249,989 Consumer 16,356 7 16,363 Total $ 263,876 $ 2,476 $ 266,352 AT DECEMBER 31, 2019 NON- PERFORMING PERFORMING TOTAL (IN THOUSANDS) Real estate – residential mortgage $ 233,760 $ 1,479 $ 235,239 Consumer 18,255 — 18,255 Total $ 252,015 $ 1,479 $ 253,494 Management further monitors the performance and credit quality of the loan portfolio by analyzing the age of the portfolio as determined by the length of time a recorded payment is past due. The following tables present the classes of the loan portfolio summarized by the aging categories of performing loans and non-accrual loans. AT DECEMBER 31, 2020 90 DAYS 30 – 59 60 – 89 PAST DUE DAYS DAYS 90 DAYS TOTAL TOTAL AND STILL CURRENT PAST DUE PAST DUE PAST DUE PAST DUE LOANS ACCRUING (IN THOUSANDS) Commercial and industrial $ 148,023 $ 536 $ 2,603 $ — $ 3,139 $ 151,162 $ — Paycheck Protection Program (PPP) 58,344 — — — — 58,344 $ — Commercial loans secured by owner occupied real estate 95,486 — — — — 95,486 — Commercial loans secured by non-owner occupied real estate 399,850 230 671 — 901 400,751 — Real estate – residential mortgage 246,279 776 1,178 1,756 3,710 249,989 — Consumer 16,274 82 — 7 89 16,363 — Total $ 964,256 $ 1,624 $ 4,452 $ 1,763 $ 7,839 $ 972,095 $ — AT DECEMBER 31, 2019 90 DAYS 30 – 59 60 – 89 PAST DUE DAYS DAYS 90 DAYS TOTAL TOTAL AND STILL CURRENT PAST DUE PAST DUE PAST DUE PAST DUE LOANS ACCRUING (IN THOUSANDS) Commercial and industrial $ 173,922 $ — $ — $ — $ — $ 173,922 $ — Commercial loans secured by owner occupied real estate 91,538 117 — — 117 91,655 — Commercial loans secured by non-owner occupied real estate 363,635 — — — — 363,635 — Real estate – residential mortgage 231,022 2,331 864 1,022 4,217 235,239 — Consumer 18,190 42 23 — 65 18,255 — Total $ 878,307 $ 2,490 $ 887 $ 1,022 $ 4,399 $ 882,706 $ — An allowance for loan losses (“ALL”) is maintained to support loan growth and cover charge-offs from the loan portfolio. The ALL is based on management’s continuing evaluation of the risk characteristics and credit quality of the loan portfolio, assessment of current economic conditions, diversification and size of the portfolio, adequacy of collateral, past and anticipated loss experience, and the amount of non-performing loans. Loans that are collectively evaluated for impairment are analyzed with general allowances being made as appropriate. For general allowances, historical loss trends are used in the estimation of losses in the current portfolio. These historical loss amounts are complemented by consideration of other qualitative factors. Management tracks the historical net charge-off activity at each risk rating grade level for the entire commercial portfolio and at the aggregate level for the consumer, residential mortgage and small business portfolios. A historical charge-off factor is calculated utilizing a rolling 12 consecutive historical quarters for the commercial portfolios. This historical charge-off factor for the consumer, residential mortgage and small business portfolios are based on a three-year historical average of actual loss experience. The Company uses a comprehensive methodology and procedural discipline to maintain an ALL to absorb inherent losses in the loan portfolio. The Company believes this is a critical accounting policy since it involves significant estimates and judgments. The allowance consists of three elements: (1) an allowance established on specifically identified problem loans, (2) formula driven general reserves established for loan categories based upon historical loss experience and other qualitative factors which include delinquency, non-performing and TDR loans, loan trends, economic trends, concentrations of credit, trends in loan volume, experience and depth of management, examination and audit results, effects of any changes in lending policies, and trends in policy, financial information, and documentation exceptions, and (3) a general risk reserve which provides support for variance from our assessment of the previously listed qualitative factors, provides protection against credit risks resulting from other inherent risk factors contained in the Company’s loan portfolio, and recognizes the model and estimation risk associated with the specific and formula driven allowances. The qualitative factors used in the formula driven general reserves are evaluated quarterly (and revised if necessary) by the Company’s management to establish allocations which accommodate each of the listed risk factors. “Pass” rated credits are segregated from “Criticized” and “Classified” credits for the application of qualitative factors. Management reviews the loan portfolio on a quarterly basis using a defined, consistently applied process in order to make appropriate and timely adjustments to the ALL. When information confirms all or part of specific loans to be uncollectible, these amounts are promptly charged off against the ALL.

NON-PERFORMING ASSETS INCLUDING

NON-PERFORMING ASSETS INCLUDING TROUBLED DEBT RESTRUCTURINGS	12 Months Ended
	Dec. 31, 2020
NON-PERFORMING ASSETS INCLUDING TROUBLED DEBT RESTRUCTURINGS
NON-PERFORMING ASSETS INCLUDING TROUBLED DEBT RESTRUCTURINGS	8. NON-PERFORMING ASSETS INCLUDING TROUBLED DEBT RESTRUCTURINGS Non-performing assets are comprised of (i) loans which are on a non-accrual basis, (ii) loans which are contractually past due 90 days or more as to interest or principal payments, (iii) performing loans classified as TDR and (iv) OREO (real estate acquired through foreclosure, in-substance foreclosures and repossessed assets). The following table presents information concerning non-performing assets including TDR: AT DECEMBER 31, 2020 2019 (IN THOUSANDS, EXCEPT PERCENTAGES) Non-accrual loans: Commercial and industrial $ 16 $ — Commercial loans secured by non-owner occupied real estate 8 8 Real estate – residential mortgage 2,469 1,479 Consumer 7 — Total 2,500 1,487 Other real estate owned: Real estate – residential mortgage — 37 Total — 37 TDR’s not in non-accrual: Commercial and industrial 831 815 Total 831 815 Total non-performing assets including TDR $ 3,331 $ 2,339 Total non-performing assets as a percent of loans, net of unearned income, and other real estate owned 0.34 % 0.26 % The Company had no loans past due 90 days or more for the periods presented which were accruing interest. Consistent with accounting and regulatory guidance, the Bank recognizes a TDR when the Bank, for economic or legal reasons related to a borrower’s financial difficulties, grants a concession to the borrower that would not normally be considered. Regardless of the form of concession granted, the Bank’s objective in offering a TDR is to increase the probability of repayment of the borrower’s loan. To be considered a TDR, both of the following criteria must be met: · the borrower must be experiencing financial difficulties; and · the Bank, for economic or legal reasons related to the borrower’s financial difficulties, grants a concession to the borrower that would not otherwise be considered. Factors that indicate a borrower is experiencing financial difficulties include, but are not limited to: · the borrower is currently in default on their loan(s); · the borrower has filed for bankruptcy; · the borrower has insufficient cash flows to service their loan(s); or · the borrower is unable to obtain refinancing from other sources at a market rate similar to rates available to a non-troubled debtor. Factors that indicate that a concession has been granted include, but are not limited to: · the borrower is granted an interest rate reduction to a level below market rates for debt with similar risk; or · the borrower is granted a material maturity date extension, or extension of the amortization plan to provide payment relief. For purposes of this policy, a material maturity date extension will generally include any maturity date extension, or the aggregate of multiple consecutive maturity date extensions, that exceed 120 days. A restructuring that results in an insignificant delay in payment, i.e. 120 days or less, is not necessarily a TDR. Insignificant payment delays occur when the amount of the restructured payments subject to the delay is insignificant relative to the unpaid principal or collateral value, and will result in an insignificant shortfall in the originally scheduled contractual amount due, and/or the delay in timing of the restructured payment period is insignificant relative to the frequency of payments, the original maturity or the original amortization. The determination of whether a restructured loan is a TDR requires consideration of all of the facts and circumstances surrounding the modification. No single factor is determinative of whether a restructuring is a TDR. An overall general decline in the economy or some deterioration in a borrower’s financial condition does not automatically mean that the borrower is experiencing financial difficulty. Accordingly, determination of whether a modification is a TDR involves a large degree of judgment. Any loan modification where the loan currently maintains a criticized or classified risk rating, i.e. Special Mention, Substandard or Doubtful, or where the loan will be assigned a criticized or classified rating after the modification is evaluated to determine the need for TDR classification. The specific ALL reserve for loans modified as TDR’s was $103,000 and $92,000 as of December 31, 2020 and 2019, respectively. The following table details the loans modified in TDRs during the year ended December 31, 2020 (dollars in thousands). Loans in accrual status # of Loans Current Balance Concession Granted Commercial and industrial 1 $ 750 Subsequent modification of a TDR - Extension of maturity date with a below market interest rate Commercial and industrial 1 47 Extension of maturity date with a below market interest rate The following table details the loans modified in TDRs during the year ended December 31, 2019 (dollars in thousands). Loans in accrual status # of Loans Current Balance Concession Granted Commercial and industrial 2 $ 816 Extension of maturity date with a below market interest rate Loans in non-accrual status Commercial loans secured by non-owner occupied real estate 1 $ 8 Extension of maturity date In all instances where loans have been modified in troubled debt restructurings the pre- and post-modified balances are the same. Once a loan is classified as a TDR, this classification will remain until documented improvement in the financial position of the borrower supports confidence that all principal and interest will be paid according to terms. Additionally, the customer must have re-established a track record of timely payments according to the restructured contract terms for a minimum of six consecutive months prior to consideration for removing the loan from non-accrual TDR status. However, a loan will continue to be on non-accrual status until, consistent with our policy, the borrower has made a minimum of six consecutive payments in accordance with the terms of the loan. There were no loans that were modified as TDR’s in the previous 12 months and defaulted during the reporting periods ending December 31, 2020, 2019 or 2018, respectively All TDRs are individually evaluated for impairment and a related allowance is recorded, as needed. The Company is unaware of any additional loans which are required to either be charged-off or added to the non-performing asset totals disclosed above. OREO is recorded at the lower of (1) fair value minus estimated costs to sell or (2) carrying cost. Foreclosed assets acquired in settlement of loans carried at fair value less estimated costs to sell are included in other assets on the Consolidated Balance Sheets. As of December 31, 2020, there were no residential real estate foreclosed assets included in other assets. As of December 31, 2019, a total of $37,000 of residential real estate foreclosed assets were included in other assets. As of December 31, 2020, the Company had initiated formal foreclosure procedures on $119,000 of consumer residential mortgages. Loan Modifications Related to COVID-19 Under section 4013 of the CARES Act, loans less than 30 days past due as of December 31, 2019 will be considered current for COVID-19 modifications. A financial institution can then suspend the requirements under GAAP for loan modifications related to COVID-19 that would otherwise be categorized as a TDR, and suspend any determination of a loan modified as a result of COVID-19 as being a TDR, including the requirement to determine impairment for accounting purposes and reporting the loan as past due. Financial institutions wishing to utilize this authority must make a policy election, which applies to any COVID-19 modification made between March 1, 2020 and the earlier of either December 31, 2020 or the 60 th day after the end of the COVID-19 national emergency so long as the loan was current on payments as of December 31, 2019. The suspension of TDR identification and accounting triggered by the effects of the COVID-19 pandemic was extended by the Consolidated Appropriations Act, 2021, signed into law on December 27, 2020. The period established by Section 4013 of the CARES Act was extended to the earlier of January 1, 2022 or 60 days after the date on which the national COVID-19 emergency terminates. Additionally, the Financial Accounting Standards Board has confirmed that short-term modifications made on a good-faith basis in response to COVID-19 to loan customers who were current prior to any relief are not TDRs. In response to the COVID-19 pandemic, the Company has prudently executed loan modifications for existing loan customers. The following table presents information comparing loans which were subject to a loan modification related to COVID-19, as of December 31, 2020 and September 30, 2020. Note that the percentage of outstanding loans presented below was calculated based on loan totals excluding PPP loans. Management believes that this method more accurately reflects the concentration of COVID-19 related modifications within the loan portfolio. At December 31, 2020 At September 30, 2020 % of Outstanding % of Outstanding Balance Non-PPP Loans Balance Non-PPP Loans (in thousands) (in thousands) CRE/Commercial $ 47,037 7.0 % $ 140,132 21.8 % Home Equity/Consumer 83 0.1 160 0.2 Residential Mortgage 1,943 1.3 4,069 2.9 Total $ 49,063 5.3 $ 144,361 16.4 The balance of loan modifications related to COVID-19 at December 31, 2020 represents a decrease of $95.3 million, or 66.0%, from the balance of loans modified for COVID-19 reported in the third quarter 2020 10-Q which totaled $144 million. As a result of these loan modifications, the Company has recorded $1.2 million of accrued interest income that has not been received as of December 31, 2020. Requested modifications primarily consist of the deferral of principal and/or interest payments for a period of three to six months and maturity date extensions. The following table presents the composition of the types of payment relief that have been granted. At December 31, 2020 At September 30, 2020 Number of Loans Balance Number of Loans Balance (in thousands) (in thousands) Type of Payment Relief Interest only payments 11 $ 26,900 67 $ 74,680 Complete payment deferrals 59 22,163 127 69,681 Total 70 $ 49,063 194 $ 144,361 Management is carefully monitoring asset quality with a particular focus on customers that have requested payment deferrals during this difficult economic time. As we reached the end of the initial deferral time periods, deferral extension requests were considered based upon the customer’s needs and their impacted industry, borrower and guarantor capacity to service debt as well as issued regulatory guidance. At December 31, 2020, the COVID-19 related modifications within the commercial real estate and commercial loan portfolios are to 19 borrowers, most of which are borrowers who were granted a second loan payment deferral, with loans totaling approximately $47 million. In order to properly monitor the increased credit risk associated with the modified loans, the Asset Quality Task Force is meeting at least monthly to review these particular relationships, receiving input from the business lenders regarding their ongoing discussions with the borrowers.

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT	12 Months Ended
	Dec. 31, 2020
PREMISES AND EQUIPMENT
PREMISES AND EQUIPMENT	9. PREMISES AND EQUIPMENT An analysis of premises and equipment follows: AT DECEMBER 31, 2020 2019 (IN THOUSANDS) Land $ 1,198 $ 1,198 Premises 28,070 27,711 Furniture and equipment 8,502 8,632 Leasehold improvements 1,174 1,174 Total at cost 38,944 38,715 Less: Accumulated depreciation and amortization 24,608 24,072 Premises and equipment, net $ 14,336 $ 14,643 The Company recorded depreciation and amortization expense of $1.6 million for 2020 and $1.5 million for 2019 and 2018. The Company utilizes a contract cleaner to provide janitorial services for several office locations. The contract cleaner is owned by a Director of the Company. The amount paid to this related party totaled $232,000, $218,000, and $221,000 for the years ended December 31, 2020, 2019, and 2018, respectively.

LEASE COMMITMENTS

LEASE COMMITMENTS	12 Months Ended
	Dec. 31, 2020
LEASE COMMITMENTS
LEASE COMMITMENTS	10. LEASE COMMITMENTS The Company has operating and financing leases for several office locations and equipment. Several assumptions and judgments were made when applying the requirements of ASU 2016-02, Leases (Topic 842) , to the Company’s lease commitments, including the allocation of consideration in the contracts between lease and non-lease components, determination of the lease term, and determination of the discount rate used in calculating the present value of the lease payments. See Note 1 for information on policy elections. The following table presents the lease cost associated with both operating and financing leases for the years ended December 31, 2020 and 2019. Total rent expense recorded during the year ended December 31, 2018 was $415,000. YEAR ENDED DECEMBER 31, 2020 2019 (IN THOUSANDS) Lease cost Financing lease cost: Amortization of right-of-use asset $ 271 $ 258 Interest expense 112 117 Operating lease cost 116 117 Total lease cost $ 499 $ 492 The following table presents the weighted-average remaining lease term and discount rate for the leases outstanding at December 31, 2020 and 2019. AT DECEMBER 31, 2020 2019 OPERATING FINANCING OPERATING FINANCING Weighted-average remaining term (years) 11.4 16.0 11.9 17.1 Weighted-average discount rate 3.49 % 3.52 % 3.46 % 3.60 % The following table presents the undiscounted cash flows due related to operating and financing leases as of December 31, 2020 and 2019, along with a reconciliation to the discounted amount recorded on the Consolidated Balance Sheets. DECEMBER 31, 2020 OPERATING FINANCING (IN THOUSANDS) Undiscounted cash flows due: Within 1 year $ 120 $ 316 After 1 year but within 2 years 98 320 After 2 years but within 3 years 69 309 After 3 years but within 4 years 69 249 After 4 years but within 5 years 69 248 After 5 years 520 2,760 Total undiscounted cash flows 945 4,202 Discount on cash flows (169) (1,093) Total lease liabilities $ 776 $ 3,109 DECEMBER 31, 2019 OPERATING FINANCING (IN THOUSANDS) Undiscounted cash flows due: Within 1 year $ 118 $ 296 After 1 year but within 2 years 120 275 After 2 years but within 3 years 98 277 After 3 years but within 4 years 69 274 After 4 years but within 5 years 69 236 After 5 years 589 3,007 Total undiscounted cash flows 1,063 4,365 Discount on cash flows (198) (1,202) Total lease liabilities $ 865 $ 3,163 The Company leases approximately 1,049 square feet of office space within its headquarters building to a Director of the Company. The amount paid by this related party totaled $13,000 for the years ended December 31, 2020, 2019, and 2018 and is reported in net occupancy expense on the Consolidated Statements of Operations.

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2020
DEPOSITS
DEPOSITS	11. DEPOSITS The following table sets forth the balance of the Company’s deposits: AT DECEMBER 31, 2020 2019 (IN THOUSANDS) Demand: Non-interest bearing $ 177,533 $ 136,462 Interest bearing 200,969 177,767 Savings 112,353 95,933 Money market 219,919 208,343 Certificates of deposit in denominations of $100,000 or more 48,931 38,770 Other time 295,215 303,238 Total deposits $ 1,054,920 $ 960,513 The following table sets forth the balance of other time deposits and certificates of deposit of $100,000 or more as of December 31, 2020 maturing in the periods presented: CERTIFICATES OF DEPOSIT YEAR: OTHER TIME DEPOSITS OF $100,000 OR MORE TOTAL (IN THOUSANDS) 2021 $ 174,109 $ 45,646 $ 219,755 2022 63,046 2,714 65,760 2023 23,670 400 24,070 2024 15,146 171 15,317 2025 10,293 — 10,293 2026 and after 8,951 — 8,951 Total $ 295,215 $ 48,931 $ 344,146 The aggregate amount of time deposit accounts (including certificates of deposit) that meet or exceed the FDIC insurance limit of $250,000 at December 31, 2020 and 2019 are $81.7 million and $69.0 million, respectively. The amount of related party deposits totaled $938,000 and $1,875,000 at December 31, 2020 and 2019, respectively

SHORT-TERM BORROWINGS

SHORT-TERM BORROWINGS	12 Months Ended
	Dec. 31, 2020
SHORT-TERM BORROWINGS
SHORT-TERM BORROWINGS	12. SHORT-TERM BORROWINGS Short-term borrowings, which consist of federal funds purchased and other short-term borrowings are summarized as follows: AT DECEMBER 31, 2020 FEDERAL FUNDS SHORT-TERM PURCHASED BORROWINGS (IN THOUSANDS, EXCEPT RATES) Balance $ — $ 24,702 Maximum balance at any month end 2,000 41,632 Average balance during year 18 4,929 Average rate paid for the year 0.87 % 0.58 % Interest rate on year-end balance — 0.41 AT DECEMBER 31, 2019 FEDERAL FUNDS SHORT-TERM PURCHASED BORROWINGS (IN THOUSANDS, EXCEPT RATES) Balance $ — $ 22,412 Maximum balance at any month end — 49,615 Average balance during year 58 11,030 Average rate paid for the year 3.04 % 2.59 % Interest rate on year-end balance — 1.81 AT DECEMBER 31, 2018 FEDERAL FUNDS SHORT-TERM PURCHASED BORROWINGS (IN THOUSANDS, EXCEPT RATES) Balance $ — $ 41,029 Maximum balance at any month end — 82,932 Average balance during year 54 33,073 Average rate paid for the year 1.70 % 2.17 % Interest rate on year-end balance — 2.62 Average amounts outstanding during the year represent daily averages. Average interest rates represent interest expense divided by the related average balances. These borrowing transactions have an average maturity of overnight.

ADVANCES FROM FEDERAL HOME LOAN

ADVANCES FROM FEDERAL HOME LOAN BANK, GUARANTEED JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES AND SUBORDINATED DEBT	12 Months Ended
	Dec. 31, 2020
ADVANCES FROM FEDERAL HOME LOAN BANK, GUARANTEED JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES AND SUBORDINATED DEBT
ADVANCES FROM FEDERAL HOME LOAN BANK, GUARANTEED JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES AND SUBORDINATED DEBT	13. ADVANCES FROM FEDERAL HOME LOAN BANK, GUARANTEED JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES AND SUBORDINATED DEBT Advances from the FHLB consist of the following: AT DECEMBER 31, 2020 WEIGHTED AVERAGE YIELD BALANCE MATURING (IN THOUSANDS, EXCEPT RATES) 2021 1.00 % $ 24,336 2022 2.03 20,888 2023 1.59 15,568 2024 1.19 4,197 Total advances from FHLB 1.48 $ 64,989 AT DECEMBER 31, 2019 WEIGHTED AVERAGE YIELD BALANCE MATURING (IN THOUSANDS, EXCEPT RATES) 2020 1.75 % $ 18,729 2021 2.28 9,496 2022 2.21 17,838 2023 2.48 5,568 2024 1.86 2,037 Total advances from FHLB 2.08 $ 53,668 The Company’s subsidiary Bank is a member of the FHLB which provides this subsidiary with the opportunity to obtain short to longer-term advances based upon the Company’s investment in assets secured by one- to four-family residential real estate and certain types of commercial and commercial real estate loans. The rate on open repo plus advances, which are typically overnight borrowings, can change daily, while the rates on the advances are fixed until the maturity of the advance. All FHLB stock along with an interest in certain residential mortgage, commercial real estate, and commercial and industrial loans with an aggregate statutory value equal to the amount of the advances, are pledged as collateral to the FHLB of Pittsburgh to support these borrowings. At December 31, 2020, the Company had immediately available $329 million of overnight borrowing capability at the FHLB, $31 million of short-term borrowing availability at the Federal Reserve Bank and $35 million of unsecured federal funds lines with correspondent banks. Guaranteed Junior Subordinated Deferrable Interest Debentures: On April 28, 1998, the Company completed a $34.5 million public offering of 8.45% Trust Preferred Securities, which represent undivided beneficial interests in the assets of a Delaware business trust, AmeriServ Financial Capital Trust I. The Trust Preferred Securities will mature on June 30, 2028, and are callable at par at the option of the Company after June 30, 2003. Proceeds of the issue were invested by AmeriServ Financial Capital Trust I in Junior Subordinated Debentures issued by the Company. The Trust Preferred Securities are listed on NASDAQ under the symbol ASRVP. The Company used $22.5 million of proceeds from a private placement of common stock to redeem Trust Preferred Securities in 2005 and 2004. The net balance as of December 31, 2020 and 2019 was $13.0 million. Subordinated Debt: On December 29, 2015, the Company completed a private placement of $7.65 million in aggregate principal amount of fixed rate subordinated notes to certain accredited investors. The subordinated notes mature December 31, 2025 and have a 6.50% fixed interest rate for the entire term. This subordinated debt has been structured to qualify as Tier 2 capital under the Federal Reserve’s capital guidelines and was non-callable for five years. The Company used the proceeds from this private placement and other cash on hand to redeem all $21 million of its issued and outstanding SBLF preferred stock on January 27, 2016. The net balance as of December 31, 2020 and 2019 was $7.5 million.

DISCLOSURES ABOUT FAIR VALUE ME

DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2020
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS	14. DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS The following disclosures establish a hierarchal disclosure framework associated with the level of pricing observability utilized in measuring assets and liabilities at fair value. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The three broad levels defined within this hierarchy are as follows: Level I: Quoted prices are available in active markets for identical assets or liabilities as of the reported date. Level II: Pricing inputs are other than the quoted prices in active markets, which are either directly or indirectly observable as of the reported date. The nature of these assets and liabilities includes items for which quoted prices are available but traded less frequently and items that are fair-valued using other financial instruments, the parameters of which can be directly observed. Level III: Assets and liabilities that have little to no pricing observability as of the reported date. These items do not have two-way markets and are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment or estimation. Assets and Liability Measured and Recorded on a Recurring Basis Equity securities are reported at fair value utilizing Level 1 inputs. These securities are mutual funds held within a rabbi trust for the Company’s executive deferred compensation plan. The mutual funds held are open-end funds that are registered with the Securities and Exchange Commission. These funds are required to publish their daily net asset value and to transact at that price. Securities classified as available for sale are reported at fair value utilizing Level 2 inputs. For these securities, the Company obtains fair value measurements from an independent pricing service. The fair value measurements consider observable data that may include dealer quoted market spreads, cash flows, the U.S. Treasury yield curve, live trading levels, trade execution data, market consensus prepayment speeds, credit information and the bond’s terms and conditions, among other things. The fair values of the interest rate swaps used for interest rate risk management are based on an external derivative valuation model using data inputs from similar transactions as of the valuation date and classified Level 2. The following table presents the assets and liability measured and reported on the Consolidated Balance Sheets on a recurring basis at their fair value as of December 31, 2020 and 2019, by level within the fair value hierarchy (in thousands). FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2020 USING TOTAL (LEVEL 1) (LEVEL 2) (LEVEL 3) Equity securities (1) $ 443 $ 443 $ — $ — Available for sale securities: U.S. Agency 3,152 — 3,152 — U.S. Agency mortgage-backed securities 67,913 — 67,913 — Municipal 20,348 — 20,348 — Corporate bonds 52,752 — 52,752 — Fair value swap asset (1) 3,320 — 3,320 — Fair value swap liability (2) (3,320) — (3,320) — FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2019 USING TOTAL (LEVEL 1) (LEVEL 2) (LEVEL 3) Equity securities (1) $ 366 $ 366 $ — $ — Available for sale securities: U.S. Agency 5,116 — 5,116 — U.S. Agency mortgage-backed securities 81,633 — 81,633 — Municipal 15,170 — 15,170 — Corporate bonds 39,830 — 39,830 — Fair value swap asset (1) 959 — 959 — Fair value swap liability (2) (959) — (959) — (1) Included within other assets on the Consolidated Balance Sheets. (2) Included within other liabilities on the Consolidated Balance Sheets. Assets Measured and Recorded on a Non-Recurring Basis Loans considered impaired are loans for which, based on current information and events, it is probable that the creditor will be unable to collect all amounts due according to the contractual terms of the loan agreement. Impaired loans are reported at the fair value of the underlying collateral if the repayment is expected solely from the collateral. Collateral values are estimated using Level 3 inputs based on observable market data which at times are discounted using unobservable inputs. At December 31, 2020, impaired loans with a carrying value of $266,000 were reduced by a specific valuation allowance totaling $8,000 resulting in a net fair value of $258,000. At December 31, 2019, impaired loans with a carrying value of $263,000 were reduced by a specific valuation allowance totaling $8,000 resulting in a net fair value of $255,000. Other real estate owned is measured at fair value based on appraisals, less estimated costs to sell at the date of foreclosure. Valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value, less cost to sell. Income and expenses from operations and changes in valuation allowance are included in the net expenses from OREO. Assets measured and recorded at fair value on a non-recurring basis are summarized below (in thousands, except range data): FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2020 USING TOTAL (LEVEL 1) (LEVEL 2) (LEVEL 3) Impaired loans $ 258 $ — $ — $ 258 FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2019 USING TOTAL (LEVEL 1) (LEVEL 2) (LEVEL 3) Impaired loans $ 255 $ — $ — $ 255 Other real estate owned 37 — — 37 Quantitative Information About Level 3 Fair Value Measurements Valuation Unobservable December 31, 2020 Fair Value Techniques Input Range (Wgtd Ave) Impaired loans $ 258 Appraisal of Appraisal 0% to 100% (3%) collateral (1) adjustments(2) Quantitative Information About Level 3 Fair Value Measurements Valuation Unobservable December 31, 2019 Fair Value Techniques Input Range (Wgtd Ave) Impaired loans $ 255 Appraisal of Appraisal 0% to 100% (3%) collateral (1) adjustments(2) Other real estate owned 37 Appraisal of Appraisal 0% to 57% (38%) collateral (1) adjustments(2) Liquidation 21% to 134% (30%) expenses (1) Fair Value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable. Also includes qualitative adjustments by management and estimated liquidation expenses. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions.

DISCLOSURES ABOUT FAIR VALUE OF

DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2020
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS	15. DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS For the Company, as for most financial institutions, approximately 90% of its assets and liabilities are considered financial instruments. Many of the Company’s financial instruments, however, lack an available trading market characterized by a willing buyer and willing seller engaging in an exchange transaction. Therefore, significant estimates and present value calculations were used by the Company for the purpose of this disclosure. Fair values have been determined by the Company using independent third party valuations that use the best available data (Level 2) and an estimation methodology (Level 3) the Company believes is suitable for each category of financial instruments. Management believes that cash and cash equivalents, bank owned life insurance, regulatory stock, accrued interest receivable and payable, deposits with no stated maturities, and short term borrowings have fair values which approximate the recorded carrying values. The fair value measurements for all of these financial instruments are Level 1 measurements. The estimated fair values based on US GAAP measurements and recorded carrying values at December 31, 2020 and 2019, for the remaining financial instruments not required to be measured or reported at fair value were as follows: AT DECEMBER 31, 2020 Carrying Value Fair Value (Level 1) (Level 2) (Level 3) (IN THOUSANDS) FINANCIAL ASSETS: Investment securities – HTM $ 44,222 $ 47,106 $ — $ 44,108 $ 2,998 Loans held for sale 6,250 6,428 6,428 — — Loans, net of allowance for loan loss and unearned income 960,750 969,433 — — 969,433 FINANCIAL LIABILITIES: Deposits with stated maturities 311,064 314,845 — — 314,845 All other borrowings (1) 85,493 90,907 — — 90,907 AT DECEMBER 31, 2019 Carrying Value Fair Value (Level 1) (Level 2) (Level 3) (IN THOUSANDS) FINANCIAL ASSETS: Investment securities – HTM $ 39,936 $ 41,082 $ — $ 38,129 $ 2,953 Loans held for sale 4,868 4,970 4,970 — — Loans, net of allowance for loan loss and unearned income 873,427 873,908 — — 873,908 FINANCIAL LIABILITIES: Deposits with stated maturities 309,044 310,734 — — 310,734 All other borrowings (1) 74,134 76,323 — — 76,323 (1) All other borrowings include advances from Federal Home Loan Bank, guaranteed junior subordinated deferrable interest debentures, and subordinated debt. Changes in assumptions or estimation methodologies may have a material effect on these estimated fair values. The Company’s remaining assets and liabilities which are not considered financial instruments have not been valued differently than has been customary under historical cost accounting.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2020
INCOME TAXES
INCOME TAXES	16. INCOME TAXES The expense for income taxes is summarized below and includes both federal and applicable state corporate income taxes: YEAR ENDED DECEMBER 31, 2020 2019 2018 (IN THOUSANDS) Current $ (400) $ 1,393 $ (988) Deferred 1,614 179 2,665 Income tax expense $ 1,214 $ 1,572 $ 1,677 The reconciliation between the federal statutory tax rate and the Company’s effective consolidated income tax rate is as follows: YEAR ENDED DECEMBER 31, 2020 2019 2018 AMOUNT RATE AMOUNT RATE AMOUNT RATE (IN THOUSANDS, EXCEPT PERCENTAGES) Income tax expense based on federal statutory rate $ 1,221 21.0 % $ 1,596 21.0 % $ 1,983 21.0 % Tax exempt income (188) (3.2) (131) (1.4) (131) (1.4) Other 181 3.1 107 1.1 (175) (1.8) Total expense for income taxes $ 1,214 20.9 % $ 1,572 20.7 % $ 1,677 17.8 % The following table highlights the major components comprising the deferred tax assets and liabilities for each of the periods presented: AT DECEMBER 31, 2020 2019 (IN THOUSANDS) DEFERRED TAX ASSETS: Allowance for loan losses $ 2,382 $ 1,949 Unfunded commitment reserve 183 215 Premises and equipment 686 1,129 Lease liabilities 816 — Accrued pension obligation — 1,093 Other 149 230 Total tax assets 4,216 4,616 DEFERRED TAX LIABILITIES: Investment accretion (88) (82) Unrealized investment security gains (941) (456) Lease right-of-use assets (780) — Accrued pension obligation (646) — Other (189) (102) Total tax liabilities (2,644) (640) Net deferred tax asset $ 1,572 $ 3,976 At December 31, 2020 and 2019, the Company had no valuation allowance established against its deferred tax assets as we believe the Company will generate sufficient future taxable income to fully utilize these assets. As a result of the Tax Cuts and Jobs Act, enacted on December 22, 2017, the Company’s AMT tax credits that were not used to reduce regular taxes were eligible for a 50% refund in 2018 to 2020 and a 100% refund in 2021. Due to this change, the AMT tax credit was fully utilized as of December 31, 2019. The change in net deferred tax assets and liabilities consist of the following: YEAR ENDED DECEMBER 31, 2020 2019 (IN THOUSANDS) Unrealized gains recognized in comprehensive income $ (485) $ (830) Pension obligation of the defined benefit plan not yet recognized in income (305) 1,348 Deferred provision for income taxes (1,614) (179) Net increase (decrease) $ (2,404) $ 339 The Company utilizes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Benefits from tax positions should be recognized in the financial statements only when it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information. A tax position that meets the more-likely-than-not recognition threshold is measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more-likely-than-not recognition threshold should be recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more-likely-than-not recognition threshold should be derecognized in the first subsequent financial reporting period in which that threshold is no longer met. The Company has no tax liability for uncertain tax positions. The Company’s federal and state income tax returns for taxable years through 2017 have been closed for purposes of examination by the Internal Revenue Service and the Pennsylvania Department of Revenue.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2020
EMPLOYEE BENEFIT PLANS
EMPLOYEE BENEFIT PLANS	17. EMPLOYEE BENEFIT PLANS PENSION PLAN: The Company has a noncontributory defined benefit pension plan covering all employees who work at least 1,000 hours per year. The participants shall have a vested interest in their accrued benefit after five full years of service. The benefits of the plan are based upon the employee’s years of service and average annual earnings for the highest five consecutive calendar years during the final ten-year period of employment. Effective January 1, 2013, the Company implemented a soft freeze of its defined benefit pension plan for non-union employees. A soft freeze means that all existing employees as of December 31, 2012 will remain in the defined benefit pension plan but any new non-union employees hired after January 1, 2013 will no longer be part of the defined benefit plan but instead will be offered retirement benefits under an enhanced 401 (k) program. The Company implemented a similar soft freeze of its defined benefit pension plan for union employees effective January 1, 2014. The Company executed these changes to help reduce its pension costs in future years. Plan assets are primarily debt securities (including U.S. Treasury and Agency securities, corporate notes and bonds), listed common stocks (including shares of the Company’s common stock valued at $1.5 million and is limited to 10% of the plan’s assets), mutual funds, and short-term cash equivalent instruments. The following actuarial tables are based upon data provided by an independent third party as of December 31, 2020. PENSION BENEFITS: YEAR ENDED DECEMBER 31, 2020 2019 (IN THOUSANDS) CHANGE IN BENEFIT OBLIGATION: Benefit obligation at beginning of year $ 49,561 $ 41,094 Service cost 1,676 1,470 Interest cost 1,281 1,569 Actuarial loss 6,085 7,758 Benefits paid (3,742) (2,330) Benefit obligation at end of year 54,861 49,561 CHANGE IN PLAN ASSETS: Fair value of plan assets at beginning of year 44,831 38,478 Actual return on plan assets 8,358 5,483 Employer contributions 9,000 3,200 Benefits paid (3,742) (2,330) Fair value of plan assets at end of year 58,447 44,831 Funded status of the plan $ 3,586 $ (4,730) YEAR ENDED DECEMBER 31, 2020 2019 (IN THOUSANDS) AMOUNTS NOT YET RECOGNIZED AS A COMPONENT OF NET PERIODIC PENSION COST: Amounts recognized in accumulated other comprehensive loss consists of: Net actuarial loss $ 20,628 $ 22,113 Total $ 20,628 $ 22,113 YEAR ENDED DECEMBER 31, 2020 2019 (IN THOUSANDS) ACCUMULATED BENEFIT OBLIGATION: Accumulated benefit obligation $ 50,435 $ 45,501 The weighted-average assumptions used to determine benefit obligations at December 31, 2020 and 2019 were as follows: YEAR ENDED DECEMBER 31, 2020 2019 WEIGHTED AVERAGE ASSUMPTIONS: Discount rate 2.47 % 3.20 % Salary scale 2.50 2.50 YEAR ENDED DECEMBER 31, 2020 2019 2018 (IN THOUSANDS) COMPONENTS OF NET PERIODIC BENEFIT COST: Service cost $ 1,676 $ 1,470 $ 1,482 Interest cost 1,281 1,569 1,273 Expected return on plan assets (3,241) (3,025) (2,798) Special termination benefit liability — — 63 Recognized net actuarial loss 2,453 1,649 1,548 Net periodic pension cost $ 2,169 $ 1,663 $ 1,568 The service cost component of net periodic benefit cost is included in salaries and employee benefits and all other components of net periodic benefit cost are included in other expense on the Consolidated Statements of Operations. YEAR ENDED DECEMBER 31, 2020 2019 2018 (IN THOUSANDS) OTHER CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN OTHER COMPREHENSIVE LOSS Net loss $ 968 $ 5,300 $ 4,683 Recognized loss (2,453) (1,649) (1,548) Total recognized in other comprehensive loss before tax effect $ (1,485) $ 3,651 $ 3,135 Total recognized in net benefit cost and other comprehensive loss before tax effect $ 684 $ 5,314 $ 4,703 For the year ended December 31, 2020, actuarial losses in the projected benefit obligation were primarily the result of the decrease in discount rate. Other sources of gain/loss such as plan experience, updated census data and minor adjustments to actuarial assumptions, including updates to lump sum interest rates, lump sum mortality tables, and mortality improvement scales, generated a combined loss of less than 4% of expected year end obligations. The weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31, 2020, 2019 and 2018 were as follows: YEAR ENDED DECEMBER 31, 2020 2019 2018 WEIGHTED AVERAGE ASSUMPTIONS: Discount rate 3.20 % 4.28 % 3.63 % Expected return on plan assets 7.00 7.50 7.50 Rate of compensation increase 2.50 2.50 2.50 The Company has assumed a 7.00% long-term expected return on plan assets. This assumption was based upon the plan’s historical investment performance over a longer-term period of 15 years combined with the plan’s investment objective of balanced growth and income. Additionally, this assumption also incorporates a targeted range for equity securities of approximately 60% of plan assets. PLAN ASSETS: The plan’s measurement date is December 31, 2020. This plan’s asset allocation at December 31, 2020 and 2019, by asset category are as follows: YEAR ENDED DECEMBER 31, 2020 2019 ASSET CATEGORY: Cash and cash equivalents 1 % 1 % Domestic equities 11 8 Mutual funds/ETFs 82 82 International equities — 1 Corporate bonds 6 8 Total 100 % 100 % The major categories of assets in the Company’s Pension Plan as of year-end are presented in the following table. Assets are segregated by the level of the valuation inputs within the fair value hierarchy established by ASC Topic 820 utilized to measure fair value. YEAR ENDED DECEMBER 31, 2020 2019 (IN THOUSANDS) Level 1: Cash and cash equivalents $ 725 $ 186 Domestic equities 6,219 3,782 Mutual funds/ETFs 48,009 36,469 International equities — 620 Level 2: Corporate bonds 3,494 3,774 Total fair value of plan assets $ 58,447 $ 44,831 Cash and cash equivalents may include uninvested cash balances along with money market mutual funds, treasury bills, or other assets normally categorized as cash equivalents. Domestic equities may include common or preferred stocks, covered options, rights or warrants, or American Depository Receipts which are traded on any U.S. equity market. Mutual funds/ETFs may include any equity, fixed income, balanced, international, or global mutual fund or exchange traded fund including any propriety fund managed by the Trust Company. Agencies may include any U.S. government agency security or asset-backed security. Collective investment funds may include equity, fixed income, or balanced collective investment funds managed by the Trust Company. Corporate bonds may include any corporate bond or note. The investment strategy objective for the pension plan is a balance of growth and income. This objective seeks to develop a portfolio for acceptable levels of current income together with the opportunity for capital appreciation. The balanced growth and income objective reflects a relatively equal balance between equity and fixed income investments such as debt securities. The allocation between equity and fixed income assets may vary by a moderate degree but the plan typically targets a range of equity investments between 50% and 60% of the plan assets. This means that fixed income and cash investments typically approximate 40% to 50% of the plan assets. The plan is also able to invest in ASRV common stock up to a maximum level of 10% of the market value of the plan assets (at December 31, 2020, 2.6% of the plan assets were invested in ASRV common stock). This asset mix is intended to ensure that there is a steady stream of cash from maturing investments to fund benefit payments. CASH FLOWS: The Company presently expects that the contribution to be made to the Plan in 2021 will be at least $6.0 million. ESTIMATED FUTURE BENEFIT PAYMENTS: The following benefit payments, which reflect future service, as appropriate, are expected to be paid. ESTIMATED FUTURE YEAR: BENEFIT PAYMENTS (IN THOUSANDS) 2021 $ 4,733 2022 4,864 2023 4,410 2024 4,557 2025 4,064 Years 2026-2030 15,463 401(k) PLAN: The Company maintains a qualified 401(k) plan that allows for participation by Company employees. Under the plan, employees may elect to make voluntary, pretax contributions to their accounts which the Company will match one half on the first 2% of contribution up to a maximum of 1%. The Company also contributes 4% of salaries for union members who are in the plan. Effective January 1, 2013, any new non-union employees receive a 4% non-elective contribution and these employees may elect to make voluntary, pretax contributions to their accounts which the Company will match one half on the first 6% of contribution up to a maximum of 3%. Effective January 1, 2014, any new union employees receive a 4% non-elective contribution and these employees may elect to make voluntary, pretax contributions to their accounts which the Company will match dollar for dollar up to a maximum of 4%. Contributions by the Company charged to operations were $653,000, $604,000 and $503,000 for the years ended December 31, 2020, 2019 and 2018, respectively. The fair value of plan assets includes $719,000 pertaining to the value of the Company’s common stock and Trust Preferred securities that are held by the plan at December 31, 2020. DEFERRED COMPENSATION PLAN: The Company maintains a nonqualified deferred compensation plan in which a select group of executives are permitted to participate. An eligible executive can defer a certain percentage of their current salary to be placed into the plan. The Company has established a rabbi trust to provide funding for the benefits payable under our deferred compensation plan. As of December 31, 2020 and 2019, the Company reported a deferred compensation liability of $443,000 and $366,000, respectively, within other liabilities on the Consolidated Balance Sheets. For the year ended December 31, 2020 and 2019, the Company recognized $7,000 and $9,000, respectively, of deferred compensation plan expense which is reported within other expense on the Consolidated Statements of Operations. See Note 5 (Investment Securities) for additional disclosures related to the nonqualified deferred compensation plan and assets held within the rabbi trust. Except for the above described benefit plans, the Company has no significant additional exposure for any other post-retirement or post-employment benefits.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	12 Months Ended
	Dec. 31, 2020
COMMITMENTS AND CONTINGENT LIABILITIES
COMMITMENTS AND CONTINGENT LIABILITIES	18. COMMITMENTS AND CONTINGENT LIABILITIES The Company incurs off-balance sheet risks in the normal course of business in order to meet the financing needs of its customers. These risks derive from commitments to extend credit and standby letters of credit. Such commitments and standby letters of credit involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated financial statements. Commitments to extend credit are obligations to lend to a customer as long as there is no violation of any condition established in the loan agreement. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Because many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer’s creditworthiness on a case-by-case basis. Collateral which secures these types of commitments is the same as for other types of secured lending such as accounts receivable, inventory, fixed assets, and real estate. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support public and private borrowing arrangements, including normal business activities, bond financings, and similar transactions. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers. Letters of credit are issued both on an unsecured and secured basis. Collateral securing these types of transactions is similar to collateral securing the Company’s commercial loans. The Company’s exposure to credit loss in the event of nonperformance by the other party to these commitments to extend credit and standby letters of credit is represented by their contractual amounts. The Company uses the same credit and collateral policies in making commitments and conditional obligations as for all other lending. At December 31, 2020, the Company had various outstanding commitments to extend credit approximating $213.9 million and standby letters of credit of $13.3 million, compared to commitments to extend credit of $195.5 million and standby letters of credit of $14.7 million at December 31, 2019. Standby letters of credit had terms ranging from 1 to 5 years with annual extension options available. Standby letters of credit of approximately $8.5 million were secured as of December 31, 2020 and approximately $9.2 million at December 31, 2019. The carrying amount of the liability for AmeriServ obligations related to unfunded commitments and standby letters of credit was $872,000 at December 31, 2020 and $1,025,000 at December 31, 2019. Pursuant to its bylaws, the Company provides indemnification to its directors and officers against certain liabilities incurred as a result of their service on behalf of the Company. In connection with this indemnification obligation, the Company can advance on behalf of covered individuals costs incurred in defending against certain claims. Additionally, the Company is also subject to a number of asserted and unasserted potential claims encountered in the normal course of business. In the opinion of the Company, neither the resolution of these claims nor the funding of these credit commitments will have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

STOCK COMPENSATION PLANS

STOCK COMPENSATION PLANS	12 Months Ended
	Dec. 31, 2020
STOCK COMPENSATION PLANS
STOCK COMPENSATION PLANS	19. STOCK COMPENSATION PLANS The Company uses the modified prospective method for accounting for stock-based compensation and recognized $3,000 of compensation expense for the year 2020, $7,000 in 2019 and $14,000 in 2018. During 2011, the Company’s Board adopted, and its shareholders approved, the AmeriServ Financial, Inc. 2011 Stock Incentive Plan (the Plan) authorizing the grant of options or restricted stock covering 800,000 shares of common stock. This Plan replaced the expired 2001 Stock Option Plan. Under the Plan, options or restricted stock can be granted (the Grant Date) to directors, officers, and employees that provide services to the Company and its affiliates, as selected by the compensation committee of the Board. The option price at which a granted stock option may be exercised will not be less than 100% of the fair market value per share of common stock on the Grant Date. The maximum term of any option granted under the Plan cannot exceed 10 years. Generally, options vest over a three-year period and become exercisable in equal installments over the vesting period. At times, options with a one year vesting period may also be issued. A summary of the status of the Company’s Stock Incentive Plan at December 31, 2020, 2019, and 2018, and changes during the years then ended is presented in the table and narrative following: YEAR ENDED DECEMBER 31, 2020 2019 2018 WEIGHTED WEIGHTED WEIGHTED AVERAGE AVERAGE AVERAGE SHARES EXERCISE PRICE SHARES EXERCISE PRICE SHARES EXERCISE PRICE Outstanding at beginning of year $ $ $ Granted — — 7,000 4.19 5,000 4.22 Exercised (38,235) 2.06 (40,917) 2.45 (24,408) 2.49 Forfeited (27,500) 3.30 (5,748) 2.44 (5,000) 1.92 Outstanding at end of year 230,913 3.14 296,648 3.02 336,313 2.91 Exercisable at end of year 224,580 3.11 282,565 2.96 307,814 2.86 Weighted average fair value of options granted in current year $ — $ 0.62 $ 0.56 A total of 224,580 of the 230,913 options outstanding at December 31, 2020, are exercisable and have exercise prices between $2.28 and $4.22, with a weighted average exercise price of $3.11 and a weighted average remaining contractual life of 3.38 years. The remaining 6,333 options that are not yet exercisable have exercise prices between $4.19 and $4.22, with a weighted average exercise price of $4.20 and a weighted average remaining contractual life of 8.07 years. The fair value of each option grant is estimated on the date of grant using the Binomial or Black-Scholes option pricing model with the following assumptions used for grants in 2020, 2019, and 2018. No stock options were granted during 2020. YEAR ENDED DECEMBER 31, PRICING MODEL ASSUMPTION RANGES 2020 2019 2018 Risk-free interest rate — % 2.65 % 3.13 % Expected lives in years — 10 10 Expected volatility — % 15.75 % 15.59 % Expected dividend rate — % 1.91 % 1.90 % The intrinsic value of stock options exercised was $56,000, $71,000, and $42,000 in 2020, 2019, and 2018, respectively.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	12 Months Ended
	Dec. 31, 2020
ACCUMULATED OTHER COMPREHENSIVE LOSS
ACCUMULATED OTHER COMPREHENSIVE LOSS	20. ACCUMULATED OTHER COMPREHENSIVE LOSS The following table presents the changes in each component of accumulated other comprehensive loss, net of tax, for the periods ending December 31, 2020, 2019, and 2018 (in thousands): YEAR ENDING DECEMBER 31, 2020 YEAR ENDED DECEMBER 31, 2019 YEAR ENDING DECEMBER 31, 2018 Net Net Net Unrealized Unrealized Unrealized Gains and Gains and Gains and Losses on Defined Losses on Defined Losses on Defined Investment Benefit Investment Benefit Investment Benefit Securities Pension Securities Pension Securities Pension AFS (1) Items (1) Total (1) AFS (1) Items (1) Total (1) AFS (1) Items (1) Total (1) Beginning balance $ 1,715 $ (17,886) $ (16,171) $ (1,409) $ (12,816) $ (14,225) $ (327) $ (12,623) $ (12,950) Other comprehensive income (loss) before reclassifications 1,824 (789) 1,035 3,217 (6,373) (3,156) (1,429) (1,416) (2,845) Amounts reclassified from accumulated other comprehensive loss — 1,938 1,938 (93) 1,303 1,210 347 1,223 1,570 Net current period other comprehensive income (loss) 1,824 1,149 2,973 3,124 (5,070) (1,946) (1,082) (193) (1,275) Ending balance $ 3,539 $ (16,737) $ (13,198) $ 1,715 $ (17,886) $ (16,171) $ (1,409) $ (12,816) $ (14,225) (1) Amounts in parentheses indicate debits on the Consolidated Balance Sheets. The following table presents the amounts reclassified out of each component of accumulated other comprehensive loss for the periods ending December 31, 2020, 2019, and 2018 (in thousands): Amount reclassified from accumulated other comprehensive loss (1) Details about other comprehensive accumulated YEAR ENDING YEAR ENDING YEAR ENDING Affected line item in the loss components DECEMBER 31, 2020 DECEMBER 31, 2019 DECEMBER 31, 2018 statement of operations Realized (gains) losses on sale of securities $ — $ (118) $ 439 Net realized (gains) losses on investment securities — 25 (92) Provision for income taxes $ — $ (93) $ 347 Amortization of estimated defined benefit pension plan loss (2) $ 2,453 $ 1,649 $ 1,548 Other expense (515) (346) (325) Provision for income taxes $ 1,938 $ 1,303 $ 1,223 Total reclassifications for the period $ 1,938 $ 1,210 $ 1,570 (1) Amounts in parentheses indicate credits. (2) These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost (see Note 17 for additional details).

INTANGIBLE ASSETS

INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2020
INTANGIBLE ASSETS
INTANGIBLE ASSETS	21. INTANGIBLE ASSETS The Company’s Consolidated Balance Sheets show both tangible assets (such as loans, buildings, and investments) and intangible assets (such as goodwill). Goodwill has an indefinite life and is not amortized. Instead such intangible is evaluated for impairment at the reporting unit level at least annually. Any resulting impairment would be reflected as a non-interest expense. Of the Company’s goodwill of $11.9 million, $9.5 million is allocated to the community banking segment and $2.4 million relates to the WCCA acquisition which is included in the wealth management segment. The balance of the Company’s goodwill at December 31, 2020 and 2019 was $11.9 million.

DERIVATIVE HEDGING INSTRUMENTS

DERIVATIVE HEDGING INSTRUMENTS	12 Months Ended
	Dec. 31, 2020
DERIVATIVE HEDGING INSTRUMENTS
Derivative Hedging Instruments	22. DERIVATIVE HEDGING INSTRUMENTS The Company can use various interest rate contracts, such as interest rate swaps, caps, floors and swaptions to help manage interest rate and market valuation risk exposure, which is incurred in normal recurrent banking activities. The Company can use derivative instruments, primarily interest rate swaps, to manage interest rate risk and match the rates on certain assets by hedging the fair value of certain fixed rate debt, which converts the debt to variable rates and by hedging the cash flow variability associated with certain variable rate debt by converting the debt to fixed rates. To accommodate the needs of our customers and support the Company’s asset/liability positioning, we may enter into interest rate swap agreements with customers and a large financial institution that specializes in these types of transactions. These arrangements involve the exchange of interest payments based on the notional amounts. The Company entered into floating rate loans and fixed rate swaps with our customers. Simultaneously, the Company entered into offsetting fixed rate swaps with Pittsburgh National Bank (PNC). In connection with each swap transaction, the Company agrees to pay interest to the customer on a notional amount at a variable interest rate and receive interest from the customer on the same notional amount at a fixed interest rate. At the same time, the Company agrees to pay PNC the same fixed interest rate on the same notional amount and receive the same variable interest rate on the same notional amount. These transactions allow the Company’s customers to effectively convert a variable rate loan to a fixed rate. Because the Company acts as an intermediary for its customers, changes in the fair value of the underlying derivative contracts offset each other and do not significantly impact the Company’s results of operations. For the years ended December 31, 2020 and 2019, the Company received $196,000 and $120,000, respectively, in fees on the interest rate swap transactions, which are recognized as revenue when received. These swaps are considered free-standing derivatives and are reported at fair value within other assets and other liabilities on the Consolidated Balance Sheets. Disclosures related to the fair value of the swap transactions can be found in Note 14. The following table summarizes the interest rate swap transactions that impacted the Company’s 2020 and 2019 performance (in thousands, except percentages). DECEMBER 31, 2020 INCREASE AGGREGATE WEIGHTED (DECREASE) NOTIONAL AVERAGE RATE REPRICING IN INTEREST HEDGE TYPE AMOUNT RECEIVED/(PAID) FREQUENCY EXPENSE Swap assets N/A $ 46,760 2.91 % Monthly $ (523) Swap liabilities N/A (46,760) (2.91) Monthly 523 Net exposure — — — DECEMBER 31, 2019 INCREASE AGGREGATE WEIGHTED (DECREASE) NOTIONAL AVERAGE RATE REPRICING IN INTEREST HEDGE TYPE AMOUNT RECEIVED/(PAID) FREQUENCY EXPENSE Swap assets N/A $ 31,668 4.44 % Monthly $ (18) Swap liabilities N/A (31,668) (4.44) Monthly 18 Net exposure — — — The Company monitors and controls all derivative products with a comprehensive Board of Directors approved Hedging Policy. This policy permits a total maximum notional amount outstanding of $500 million for interest rate swaps, interest rate caps/floors, and swaptions. All hedge transactions must be approved in advance by the Investment Asset/Liability Committee (ALCO) of the Board of Directors, unless otherwise approved, as per the terms, with the Board of Directors approved Hedging Policy. The Company had no caps or floors outstanding at December 31, 2020 and 2019. None of the Company’s derivatives are designated as hedging instruments.

SEGMENT RESULTS

SEGMENT RESULTS	12 Months Ended
	Dec. 31, 2020
Segment Results
Segment Results	23. SEGMENT RESULTS The financial performance of the Company is also monitored by an internal funds transfer pricing profitability measurement system which produces line of business results and key performance measures. The Company’s major business units include community banking, wealth management, and investment/parent. The reported results reflect the underlying economics of the business segments. Expenses for centrally provided services are allocated based upon the cost and estimated usage of those services. The businesses are match-funded and interest rate risk is centrally managed and accounted for within the investment/parent business segment. The key performance measure the Company focuses on for each business segment is net income contribution. The community banking segment includes both retail and commercial banking activities. Retail banking includes the deposit-gathering branch franchise and lending to both individuals and small businesses. Lending activities include residential mortgage loans, direct consumer loans, and small business commercial loans. Commercial banking to businesses includes commercial loans, business services, and CRE loans. The wealth management segment includes the Trust Company, West Chester Capital Advisors (WCCA), our registered investment advisory firm, and Financial Services. Wealth management activities include personal trust products and services such as personal portfolio investment management, estate planning and administration, custodial services and pre-need trusts. Also, institutional trust products and services such as 401(k) plans, defined benefit and defined contribution employee benefit plans, and individual retirement accounts are included in this segment. Financial Services include the sale of mutual funds, annuities, and insurance products. The wealth management businesses also include the union collective investment funds (ERECT funds) which are designed to use union pension dollars in construction projects that utilize union labor. The investment/parent includes the net results of investment securities and borrowing activities, general corporate expenses not allocated to the business segments, interest expense on corporate debt, and centralized interest rate risk management. Inter-segment revenues were not material. The contribution of the major business segments to the Consolidated Statements of Operations were as follows: YEAR ENDED DECEMBER 31, 2020 COMMUNITY WEALTH INVESTMENT/ BANKING MANAGEMENT PARENT TOTAL (IN THOUSANDS) Net interest income (expense) $ 42,862 $ 55 $ (6,550) $ 36,367 Provision for loan loss 2,375 — — 2,375 Non-interest income 6,022 10,212 41 16,275 Non-interest expense 34,136 7,683 2,636 44,455 Income (loss) before income taxes 12,373 2,584 (9,145) 5,812 Income tax expense (benefit) 2,303 598 (1,687) 1,214 Net income (loss) $ 10,070 $ 1,986 $ (7,458) $ 4,598 Total assets $ 1,083,819 $ 10,285 $ 185,609 $ 1,279,713 YEAR ENDED DECEMBER 31, 2019 COMMUNITY WEALTH INVESTMENT/ BANKING MANAGEMENT PARENT TOTAL (IN THOUSANDS) Net interest income (expense) $ 40,865 $ 81 $ (5,504) $ 35,442 Provision for loan loss 800 — — 800 Non-interest income 5,407 9,736 (370) 14,773 Non-interest expense 31,856 7,340 2,619 41,815 Income (loss) before income taxes 13,616 2,477 (8,493) 7,600 Income tax expense (benefit) 2,715 593 (1,736) 1,572 Net income (loss) $ 10,901 $ 1,884 $ (6,757) $ 6,028 Total assets $ 981,787 $ 10,361 $ 179,036 $ 1,171,184 YEAR ENDED DECEMBER 31, 2018 COMMUNITY WEALTH INVESTMENT/ BANKING MANAGEMENT PARENT TOTAL (IN THOUSANDS) Net interest income (expense) $ 39,195 $ 71 $ (3,772) $ 35,494 Credit provision for loan loss (600) — — (600) Non-interest income 4,832 9,651 (259) 14,224 Non-interest expense 30,809 7,319 2,745 40,873 Income (loss) before income taxes 13,818 2,403 (6,776) 9,445 Income tax expense (benefit) 2,764 554 (1,641) 1,677 Net income (loss) $ 11,054 $ 1,849 $ (5,135) $ 7,768 Total assets $ 966,910 $ 9,345 $ 184,425 $ 1,160,680

REGULATORY CAPITAL

REGULATORY CAPITAL	12 Months Ended
	Dec. 31, 2020
REGULATORY CAPITAL
REGULATORY CAPITAL	24. REGULATORY CAPITAL The Company is subject to various capital requirements administered by the federal banking agencies. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Company’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. For a more detailed discussion see the Capital Resources section of Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A). Quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios (set forth in the table below) of total, common equity tier 1, and tier 1 capital to risk-weighted assets (as defined) and tier 1 capital to average assets. Additionally, under Basel III rules, the decision was made to opt-out of including accumulated other comprehensive income in regulatory capital. As of December 31, 2020 and 2019, the Company was categorized as “well capitalized” under the regulatory framework for prompt corrective action promulgated by the Federal Reserve. The Company believes that no conditions or events have occurred that would change this conclusion as of such date. To be categorized as well capitalized, the Company must maintain minimum total capital, common equity tier 1 capital, tier 1 capital, and tier 1 leverage ratios as set forth in the table. AT DECEMBER 31, 2020 TO BE WELL MINIMUM CAPITALIZED REQUIRED UNDER FOR PROMPT CAPITAL CORRECTIVE ADEQUACY ACTION COMPANY BANK PURPOSES REGULATIONS* AMOUNT RATIO AMOUNT RATIO RATIO RATIO (IN THOUSANDS, EXCEPT RATIOS) Total Capital (To Risk Weighted Assets) $ 135,777 12.93 % $ 125,182 11.95 % 8.00 % 10.00 % Tier 1 Common Equity (To Risk Weighted Assets) 105,653 10.06 112,965 10.78 4.50 6.50 Tier 1 Capital (To Risk Weighted Assets) 117,556 11.20 112,965 10.78 6.00 8.00 Tier 1 Capital (To Average Assets) 117,556 9.29 112,965 9.03 4.00 5.00 AT DECEMBER 31, 2019 TO BE WELL MINIMUM CAPITALIZED REQUIRED UNDER FOR PROMPT CAPITAL CORRECTIVE ADEQUACY ACTION COMPANY BANK PURPOSES REGULATIONS* AMOUNT RATIO AMOUNT RATIO RATIO RATIO (IN THOUSANDS, EXCEPT RATIOS) Total Capital (To Risk Weighted Assets) $ 132,544 13.49 % $ 119,477 12.23 % 8.00 % 10.00 % Tier 1 Common Equity (To Risk Weighted Assets) 102,841 10.47 109,173 11.17 4.50 6.50 Tier 1 Capital (To Risk Weighted Assets) 114,729 11.68 109,173 11.17 6.00 8.00 Tier 1 Capital (To Average Assets) 114,729 9.87 109,173 9.50 4.00 5.00 * Applies to the Bank only. Additionally, while not a regulatory capital ratio, the Company’s tangible common equity ratio (non-GAAP) was 7.29% and 7.48% for 2020 and 2019, respectively. See the discussion of the tangible common equity ratio under the Balance Sheet section of the MD&A.

PARENT COMPANY FINANCIAL INFORM

PARENT COMPANY FINANCIAL INFORMATION	12 Months Ended
	Dec. 31, 2020
PARENT COMPANY FINANCIAL INFORMATION
PARENT COMPANY FINANCIAL INFORMATION	25. PARENT COMPANY FINANCIAL INFORMATION The parent company functions primarily as a coordinating and servicing unit for all subsidiary entities. Provided services include general management, accounting and taxes, loan review, internal auditing, investment advisory, marketing, insurance, risk management, general corporate services, and financial and strategic planning. The following financial information relates only to the parent company operations: BALANCE SHEETS AT DECEMBER 31, 2020 2019 (IN THOUSANDS) ASSETS Cash $ 100 $ 100 Short-term investments 1,998 2,544 Cash and cash equivalents 2,098 2,644 Investment securities available for sale 3,789 3,758 Equity investment in banking subsidiary 111,513 104,843 Equity investment in non-banking subsidiaries 7,327 7,830 Other assets 1,289 978 TOTAL ASSETS $ 126,016 $ 120,053 LIABILITIES Guaranteed junior subordinated deferrable interest debentures $ 12,970 $ 12,955 Subordinated debt 7,534 7,511 Other liabilities 1,113 973 TOTAL LIABILITIES 21,617 21,439 STOCKHOLDERS’ EQUITY Total stockholders’ equity 104,399 98,614 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 126,016 $ 120,053 STATEMENTS OF OPERATIONS YEAR ENDED DECEMBER 31, 2020 2019 2018 (IN THOUSANDS) INCOME Inter-entity management and other fees $ 2,708 $ 2,556 $ 2,430 Dividends from banking subsidiary 2,000 3,800 3,500 Dividends from non-banking subsidiaries 1,944 1,105 1,190 Interest, dividend and other income 106 186 119 TOTAL INCOME 6,758 7,647 7,239 EXPENSE Interest expense 1,642 1,642 1,642 Salaries and employee benefits 2,667 2,614 2,610 Other expense 1,749 1,707 1,733 TOTAL EXPENSE 6,058 5,963 5,985 INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED EARNINGS OF SUBSIDIARIES 700 1,684 1,254 Benefit for income taxes (681) (676) (722) Equity in undistributed earnings of subsidiaries 3,217 3,668 5,792 NET INCOME $ 4,598 $ 6,028 $ 7,768 COMPREHENSIVE INCOME $ 7,571 $ 4,082 $ 6,493 STATEMENTS OF CASH FLOWS YEAR ENDED DECEMBER 31, 2020 2019 2018 (IN THOUSANDS) OPERATING ACTIVITIES Net income $ 4,598 $ 6,028 $ 7,768 Adjustment to reconcile net income to net cash provided by operating activities: Equity in undistributed earnings of subsidiaries (3,217) (3,668) (5,792) Stock compensation expense 3 7 14 Other – net (55) (427) 433 NET CASH PROVIDED BY OPERATING ACTIVITIES 1,329 1,940 2,423 INVESTING ACTIVITIES Purchase of investment securities – available for sale (1,254) — (1,002) Proceeds from maturity and sales of investment securities – available for sale 1,246 1,085 1,462 NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (8) 1,085 460 FINANCING ACTIVITIES Purchases of treasury stock (151) (2,550) (2,346) Common stock dividends paid (1,716) (1,642) (1,347) NET CASH USED IN FINANCING ACTIVITIES (1,867) (4,192) (3,693) NET DECREASE IN CASH AND CASH EQUIVALENTS (546) (1,167) (810) CASH AND CASH EQUIVALENTS AT JANUARY 1 2,644 3,811 4,621 CASH AND CASH EQUIVALENTS AT DECEMBER 31 $ 2,098 $ 2,644 $ 3,811 The ability of the subsidiary Bank to upstream cash to the parent company is restricted by regulations. Federal law prevents the parent company from borrowing from its subsidiary Bank unless the loans are secured by specified assets. Further, such secured loans are limited in amount to ten percent of the subsidiary Bank’s capital and surplus. In addition, the Bank is subject to legal limitations on the amount of dividends that can be paid to its shareholder. The dividend limitation generally restricts dividend payments to a bank’s retained net income for the current and preceding two calendar years. Cash may also be upstreamed to the parent company by the subsidiaries as an inter-entity management fee. The subsidiary Bank had a combined $109,715,000 of restricted surplus and retained earnings at December 31, 2020.

SELECTED QUARTERLY CONSOLIDATED

SELECTED QUARTERLY CONSOLIDATED FINANCIAL DATA	12 Months Ended
	Dec. 31, 2020
SELECTED QUARTERLY CONSOLIDATED FINANCIAL DATA
SELECTED QUARTERLY CONSOLIDATED FINANCIAL DATA	26. SELECTED QUARTERLY CONSOLIDATED FINANCIAL DATA (unaudited) The following table sets forth certain unaudited quarterly consolidated financial data regarding the Company: 2020 QUARTER ENDED DEC. 31 SEPT. 30 JUNE 30, MARCH 31, (IN THOUSANDS, EXCEPT PER SHARE DATA) Interest income $ 11,640 $ 11,237 $ 12,061 $ 11,944 Interest expense 2,288 2,446 2,588 3,193 Net interest income 9,352 8,791 9,473 8,751 Provision for loan losses 1,075 675 450 175 Net interest income after provision for loan losses 8,277 8,116 9,023 8,576 Non-interest income 4,372 4,304 3,767 3,832 Non-interest expense 11,709 11,107 11,006 10,633 Income before income taxes 940 1,313 1,784 1,775 Provision for income taxes 248 235 365 366 Net income $ 692 $ 1,078 $ 1,419 $ 1,409 Basic earnings per common share $ 0.04 $ 0.06 $ 0.08 $ 0.08 Diluted earnings per common share 0.04 0.06 0.08 0.08 Cash dividends declared per common share 0.025 0.025 0.025 0.025 2019 QUARTER ENDED DEC. 31 SEPT. 30 JUNE 30, MARCH 31, (IN THOUSANDS, EXCEPT PER SHARE DATA) Interest income $ 12,405 $ 12,433 $ 12,765 $ 12,164 Interest expense 3,445 3,669 3,704 3,507 Net interest income 8,960 8,764 9,061 8,657 Provision (credit) for loan losses 975 225 — (400) Net interest income after provision (credit) for loan losses 7,985 8,539 9,061 9,057 Non-interest income 3,416 4,095 3,657 3,605 Non-interest expense 10,563 10,503 10,456 10,293 Income before income taxes 838 2,131 2,262 2,369 Provision for income taxes 169 442 470 491 Net income $ 669 $ 1,689 $ 1,792 $ 1,878 Basic earnings per common share $ 0.04 $ 0.10 $ 0.10 $ 0.11 Diluted earnings per common share 0.04 0.10 0.10 0.11 Cash dividends declared per common share 0.025 0.025 0.025 0.020

RISKS AND UNCERTAINTIES

RISKS AND UNCERTAINTIES	12 Months Ended
	Dec. 31, 2020
RISKS AND UNCERTAINTIES
RISKS AND UNCERTAINTIES	27. RISKS AND UNCERTAINTIES The impact of the COVID-19 pandemic is fluid and continues to evolve, adversely affecting many of the Company’s customers. The pandemic and its associated impacts on trade (including supply chains and export levels), travel, employee productivity, unemployment, and consumer spending has resulted in less economic activity, and significant volatility and disruption in the financial markets. The ultimate extent of the impact of the COVID-19 pandemic on the Company’s business, financial condition, and results of operations is currently uncertain and will depend on various developments and other factors, including, among others, the duration and scope of the pandemic, as well as governmental, regulatory, and private sector responses to the pandemic, and the associated impacts on the economy, financial markets and our customers, employees, and vendors. While the full effects of the pandemic remain unknown, the Company is committed to supporting its customers, employees, and communities during this difficult time.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2020
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	28. SUBSEQUENT EVENTS On January 15, 2021, the Company issued a press release announcing the execution of a definitive agreement regarding the acquisition by AmeriServ Financial Bank, the Company’s wholly owned banking subsidiary, of the branch and deposit customers of Citizen’s Neighborhood Bank (CNB), an operating division of Riverview Bank, located in Meyersdale, Pennsylvania and the deposit customers of CNB at the branch located in Somerset, Pennsylvania. As of the agreement date, the related deposits totaled approximately $48 million and will be acquired for a 3.71% deposit premium. The Meyersdale branch will continue in operation under the AmeriServ name, and the Somerset branch customers will be serviced from the neighboring full service AmeriServ office at 108 West Main Street. On a pro forma basis, AmeriServ will have the fourth largest deposit market share in Somerset County with four branches and $150 million in deposits. This transaction will be immediately accretive to the Company’s earnings and the approximate 2% dilution to the Company’s tangible book value will be earned back in less than three years. The transaction is subject to regulatory approvals and satisfaction of customary closing conditions and is expected to close in the second quarter of 2021. In late December 2020, the Federal Government passed a new $900 billion pandemic relief bill which includes $284.5 billion for the re-opening of the Paycheck Protection Program. The Company will again assist our business customers and participate in the program in 2021. As of February 28, 2021, the Company has originated 141 loans totaling $24.2 million under the new round of the Paycheck Protection Program.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BUSINESS AND NATURE OF OPERATIONS:	BUSINESS AND NATURE OF OPERATIONS: AmeriServ Financial, Inc. (the Company) is a bank holding company, headquartered in Johnstown, Pennsylvania. Through its banking subsidiary, the Company operates 16 banking locations in five southwestern Pennsylvania counties and Hagerstown, Maryland. These branches provide a full range of consumer, mortgage, and commercial financial products. In a press release dated January 15, 2021, the Company announced the execution of a definitive agreement whereby AmeriServ will acquire a branch and deposit customers from two locations in southwestern Pennsylvania of Citizen’s Neighborhood Bank (CNB), an operating division of Riverview Bank. The transaction is subject to regulatory approvals and satisfaction of customary closing conditions and is expected to close in the second quarter of 2021. The AmeriServ Trust and Financial Services Company (the Trust Company) offers a complete range of trust and financial services and administers assets valued at approximately $2.5 billion that are not recognized on the Company’s Consolidated Balance Sheets at December 31, 2020.
PRINCIPLES OF CONSOLIDATION:	PRINCIPLES OF CONSOLIDATION: The consolidated financial statements include the accounts of AmeriServ Financial, Inc. and its wholly-owned subsidiaries, AmeriServ Financial Bank (the Bank), the Trust Company, and AmeriServ Life Insurance Company (AmeriServ Life). The Bank is a Pennsylvania state-chartered full service bank with 15 locations in Pennsylvania and 1 location in Maryland. AmeriServ Life was a captive insurance company that engaged in underwriting as a reinsurer of credit life and disability insurance. New business ceased being generated by AmeriServ Life in 2005. Since that time, outstanding insurance policies have been running off, and the final policy has expired. On September 30, 2020, the Arizona Corporation Commission approved the Articles of Dissolution for AmeriServ Life. The remaining assets of AmeriServ Life were transferred to AmeriServ Financial, Inc. and the subsidiary was formally closed on December 31, 2020. In addition, the Parent Company is an administrative group that provides support in such areas as audit, finance, investments, loan review, general services, and marketing. Intercompany accounts and transactions have been eliminated in preparing the Consolidated Financial Statements. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (generally accepted accounting principles, or GAAP) requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying notes. Actual results may differ from these estimates and the differences may be material to the Consolidated Financial Statements. The Company’s most significant estimates relate to the allowance for loan losses, goodwill, income taxes, investment securities, pension, and the fair value of financial instruments.
INVESTMENT SECURITIES:	INVESTMENT SECURITIES: Securities are classified at the time of purchase as investment securities held to maturity if it is management’s intent and the Company has the ability to hold the securities until maturity. These held to maturity securities are carried on the Company’s books at cost, adjusted for amortization of premium and accretion of discount which is computed using the level yield method which approximates the effective interest method. Alternatively, securities are classified as available for sale if it is management’s intent at the time of purchase to hold the securities for an indefinite period of time and/or to use the securities as part of the Company’s asset/liability management strategy. Securities classified as available for sale include securities which may be sold to effectively manage interest rate risk exposure, prepayment risk, and other factors (such as liquidity requirements). These available for sale securities are reported at fair value with unrealized aggregate appreciation/depreciation excluded from income and credited/charged to accumulated other comprehensive income/loss within stockholders’ equity on a net of tax basis. Any securities classified as trading assets are reported at fair value with unrealized aggregate appreciation/depreciation included in income on a net of tax basis. The Company does not engage in trading activity. Realized gains or losses on securities sold are computed upon the adjusted cost of the specific securities sold. Available-for-sale and held-to-maturity securities are reviewed quarterly for possible other-than-temporary impairment. The review includes an analysis of the facts and circumstances of each individual investment such as the severity of loss, the length of time the fair value has been below cost, the expectation for that security’s performance, the creditworthiness of the issuer and the Company’s intent and ability to hold the security to recovery. The Company believes the unrealized losses on certain securities within the investments portfolio are primarily a result of increases in market yields from the time of purchase. In general, as market yields rise, the value of securities will decrease; as market yields fall, the fair value of securities will increase. Management generally views changes in fair value caused by changes in interest rates as temporary; therefore, these securities have not been classified as other-than-temporarily impaired. Management has also concluded that based on current information we expect to continue to receive scheduled interest payments as well as the entire principal balance. Furthermore, management does not intend to sell these securities and does not believe it will be required to sell these securities before they recover in value. Additionally, the Company holds equity securities which are comprised of mutual funds held within a rabbi trust for the executive deferred compensation plan. Such securities are reported at fair value within other assets on the Consolidated Balance Sheets. Unrealized holding gains and losses on equity securities are included in earnings.
FEDERAL HOME LOAN BANK STOCK:	FEDERAL HOME LOAN BANK STOCK: The Bank is a member of the Federal Home Loan Bank of Pittsburgh (FHLB) and as such, is required to maintain a minimum investment in stock of the FHLB that varies with the level of advances outstanding with the FHLB. The stock is bought from and sold to the FHLB based upon its $100 par value. The stock does not have a readily determinable fair value and as such is classified as restricted stock, carried at cost and evaluated for impairment by management. The stock’s value is determined by the ultimate recoverability of the par value rather than by recognizing temporary declines. The determination of whether the par value will ultimately be recovered is influenced by criteria such as the following: (1) the significance of the decline in net assets of the FHLB as compared to the capital stock amount and the length of time any such situation has persisted; (2) commitments by the FHLB to make payments required by law or regulation and the level of such payments in relation to the operating performance; (3) the impact of legislative and regulatory changes on the customer base of FHLB; and (4) the liquidity position of the FHLB. Management evaluated the stock and concluded that the stock was not impaired for the periods presented herein.
LOANS:	LOANS: Interest income is recognized using the level yield method related to principal amounts outstanding. The Company discontinues the accrual of interest income when loans become 90 days past due in either principal or interest. In addition, if circumstances warrant, the accrual of interest may be discontinued prior to 90 days. Payments received on non-accrual loans are credited to principal until full recovery of principal has been recognized; or the loan has been returned to accrual status. The only exception to this policy is for residential mortgage loans wherein interest income is recognized on a cash basis as payments are received. A non-accrual commercial loan is placed on accrual status after becoming current and remaining current for twelve consecutive payments. Residential mortgage loans are placed on accrual status upon becoming current.
LOAN FEES:	LOAN FEES: Loan origination and commitment fees, net of associated direct costs, are deferred and amortized into interest and fees on loans over the loan or commitment period. Fee amortization is determined by the effective interest method.
LOANS HELD FOR SALE:	LOANS HELD FOR SALE: Certain newly originated residential mortgage loans are classified as held for sale, because it is management’s intent to sell these residential mortgage loans. The residential mortgage loans held for sale are carried at the lower of aggregate cost or fair value.
TRANSFERS OF FINANCIAL ASSETS:	TRANSFERS OF FINANCIAL ASSETS: Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company; (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets; and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.
PREMISES AND EQUIPMENT:	PREMISES AND EQUIPMENT: Premises and equipment are stated at cost less accumulated depreciation and amortization. Land is carried at cost. Depreciation is charged to operations over the estimated useful lives of the premises and equipment using the straight-line method with a half-year convention. Useful lives of up to 30 years for buildings and up to 10 years for equipment are utilized. Leasehold improvements are amortized using the straight-line method over the terms of the respective leases or useful lives of the improvements, whichever is shorter. Maintenance, repairs, and minor alterations are charged to current operations as expenditures are incurred.
LEASES:	LEASES: The Company has operating and financing leases for several office locations and equipment. Generally, the underlying lease agreements do not contain any material residual value guarantees or material restrictive covenants. Many of our leases include both lease (e.g., minimum rent payments) and non-lease components, such as common area maintenance charges, utilities, real estate taxes, and insurance. The Company has elected to account for the variable non-lease components separately from the lease component. Such variable non-lease components are reported in net occupancy expense on the Consolidated Statements of Operations when incurred. These variable non-lease components were excluded from the calculation of the present value of the remaining lease payments, therefore, they are not included in the right-of-use assets and lease liabilities reported on the Consolidated Balance Sheets. Certain of the Company’s leases contain options to renew the lease after the initial term. Management considers the Company’s historical pattern of exercising renewal options on leases and the performance of the leased locations, when determining whether it is reasonably certain that the leases will be renewed. If management concludes that there is reasonable certainty about the renewal option, it is included in the calculation of the remaining term of each applicable lease. The discount rate utilized in calculating the present value of the remaining lease payments for each lease was the Federal Home Loan Bank of Pittsburgh advance rate corresponding to the remaining maturity of the lease. Under Topic 842, the lessee can elect to not record on the Consolidated Balance Sheets a lease whose term is twelve months or less and does not include a purchase option that the lessee is reasonably certain to exercise. As of December 31, 2020, the Company had no short-term leases. As of December 31, 2019, the Company had one short-term equipment lease which it has elected to not record on the Consolidated Balance Sheets.
ALLOWANCE FOR LOAN LOSSES AND CHARGE-OFF PROCEDURES:	ALLOWANCE FOR LOAN LOSSES AND CHARGE-OFF PROCEDURES: As a financial institution, which assumes lending and credit risks as a principal element of its business, the Company anticipates that credit losses will be experienced in the normal course of business. Accordingly, the Company consistently applies a comprehensive methodology and procedural discipline to perform an analysis which is updated on a quarterly basis at the Bank level to determine both the adequacy of the allowance for loan losses and the necessary provision for loan losses to be charged against earnings. This methodology includes: · Review of all impaired commercial and commercial real estate loans to determine if any specific reserve allocations are required on an individual loan basis. In addition, consumer and residential mortgage loans with a balance of $150,000 or more are evaluated for impairment and specific reserve allocations are established, if applicable. All required specific reserve allocations are based on careful analysis of the loan’s performance, the related collateral value, cash flow considerations and the financial capability of any guarantor. For impaired loans the measurement of impairment may be based upon (1) the present value of expected future cash flows discounted at the loan’s effective interest rate; (2) the observable market price of the impaired loan; or (3) the fair value of the collateral of a collateral dependent loan. · The application of formula driven reserve allocations for all commercial and commercial real estate loans by using a three-year migration analysis of net losses incurred within each risk grade for the entire commercial loan portfolio. The difference between estimated and actual losses is reconciled through the nature of the migration analysis. · The application of formula driven reserve allocations to consumer and residential mortgage loans which are based upon historical net charge-off experience for those loan types. The residential mortgage loan and consumer loan allocations are based upon the Company’s three-year historical average of actual loan net charge-offs experienced in each of those categories. · The application of formula driven reserve allocations to all outstanding loans is based upon review of historical losses and qualitative factors, which include but are not limited to, economic trends, delinquencies, levels of non-accrual and TDR loans, concentrations of credit, trends in loan volume, experience and depth of management, examination and audit results, effects of any changes in lending policies and trends in policy, financial information and documentation exceptions. · Management recognizes that there may be events or economic factors that have occurred affecting specific borrowers or segments of borrowers that may not yet be fully reflected in the information that the Company uses for arriving at reserves for a specific loan or portfolio segment. Therefore, the Company believes that there is estimation risk associated with the use of specific and formula driven allowances. After completion of this process, a formal meeting of the Loan Loss Reserve Committee is held to evaluate the adequacy of the reserve. When it is determined that the prospects for recovery of the principal of a loan have significantly diminished, the loan is charged against the allowance account; subsequent recoveries, if any, are credited to the allowance account. In addition, non-accrual and large delinquent loans are reviewed monthly to determine potential losses. The Company’s policy is to individually review, as circumstances warrant, its commercial and commercial mortgage loans to determine if a loan is impaired. At a minimum, credit reviews are mandatory for all commercial and commercial mortgage loan relationships with aggregate balances in excess of $1,000,000 within a 12‑month period. The Company defines classified loans as those loans rated substandard or doubtful. The Company has also identified three pools of small dollar value homogeneous loans which are evaluated collectively for impairment. These separate pools are for small business relationships with aggregate balances of $250,000 or less, residential mortgage loans and consumer loans. Individual loans within these pools are reviewed and evaluated for specific impairment if factors such as significant delinquency in payments of 90 days or more, bankruptcy, or other negative economic concerns indicate impairment.
ALLOWANCE FOR UNFUNDED LOAN COMMITMENTS AND LETTERS OF CREDIT:	ALLOWANCE FOR UNFUNDED LOAN COMMITMENTS AND LETTERS OF CREDIT: The allowance for unfunded loan commitments and letters of credit is maintained at a level believed by management to be sufficient to absorb estimated losses related to these unfunded credit facilities. The determination of the adequacy of the allowance is based on periodic evaluations of the unfunded credit facilities including an assessment of the probability of commitment usage, credit risk factors for loans outstanding to these same customers and the terms and expiration dates of the unfunded credit facilities. Net adjustments to the allowance for unfunded loan commitments and letters of credit are provided for in the unfunded commitment reserve expense line item within other expense in the Consolidated Statements of Operations and a separate reserve is recorded within the other liabilities line item of the Consolidated Balance Sheets.
BANK-OWNED LIFE INSURANCE:	BANK-OWNED LIFE INSURANCE: The Company has purchased life insurance policies on certain employees. These policies are recorded on the Consolidated Balance Sheets at their cash surrender value, or the amount that can be realized. Income from these policies and changes in the cash surrender value are recorded in bank owned life insurance within non-interest income. Additionally, income is accrued on certain policies that have reached the minimum floor rate of return. This guaranteed portion of income is not added to the cash surrender value of the policy until the policy anniversary date and is reported in other assets on the Consolidated Balance Sheets.
INTANGIBLE ASSETS:	INTANGIBLE ASSETS: Goodwill arising from business combinations represents the value attributable to unidentifiable intangible elements in the business acquired. The Company tests goodwill for impairment on at least an annual basis. This approach could cause more volatility in the Company’s reported net income because impairment losses, if any, could occur irregularly and in varying amounts.
EARNINGS PER COMMON SHARE:	EARNINGS PER COMMON SHARE: Basic earnings per share include only the weighted average common shares outstanding. Diluted earnings per share include the weighted average common shares outstanding and any potentially dilutive common stock equivalent shares in the calculation. Treasury shares are excluded for earnings per share purposes. Options to purchase 139,759, 12,000, and 5,000 shares of common stock were outstanding during 2020, 2019 and 2018, respectively, but were not included in the computation of diluted earnings per common share because to do so would be anti-dilutive. Exercise prices of anti-dilutive options to purchase common stock outstanding were $3.18-$4.22, $4.19-$4.22, and $4.22 during 2020, 2019 and 2018, respectively. YEAR ENDED DECEMBER 31, 2020 2019 2018 (IN THOUSANDS, EXCEPT PER SHARE DATA) Numerator: Net income $ 4,598 $ 6,028 $ 7,768 Denominator: Weighted average common shares outstanding (basic) 17,053 17,359 17,933 Effect of stock options 10 81 104 Weighted average common shares outstanding (diluted) 17,063 17,440 18,037 Earnings per common share: Basic $ 0.27 $ 0.35 $ 0.43 Diluted 0.27 0.35 0.43
STOCK-BASED COMPENSATION:	STOCK-BASED COMPENSATION: The Company uses the modified prospective method for accounting of stock-based compensation. The fair value of each option grant is estimated on the grant date using the Binomial or Black-Scholes option pricing model and the expense is recognized ratably over the service period. Forfeitures are recognized as they occur. See Note 19 for details on the assumptions used.
ACCUMULATED OTHER COMPREHENSIVE LOSS:	ACCUMULATED OTHER COMPREHENSIVE LOSS: The Company presents the components of other comprehensive income (loss) in the Consolidated Statements of Comprehensive Income (Loss). These components are comprised of the change in the defined benefit pension obligation and the unrealized holding gains (losses) on available for sale securities, net of any reclassification adjustments for realized gains and losses.
CONSOLIDATED STATEMENT OF CASH FLOWS:	CONSOLIDATED STATEMENT OF CASH FLOWS: On a consolidated basis, cash and cash equivalents include cash and due from depository institutions, interest bearing deposits, and short-term investments in both money market funds and commercial paper. The Company made $315,000 in income tax payments in 2020; $785,000 in 2019; and $875,000 in 2018. The Company had non-cash transfers to other real estate owned (OREO) in the amounts of $40,000 in 2020; $75,000 in 2019; and $166,000 in 2018. During 2020, the Company entered into two new financing leases, one related to office equipment and the other to a branch location, and recorded a right-of-use asset and lease liability of $149,000. As a result of the adoption of ASU 2016-02, Leases (Topic 842) as of January 1, 2019, the Company had non-cash transactions associated with the recognition of the right-of-use assets and lease liabilities. Specifically, the Company recognized a right-of-use asset and lease liability of $932,000 related to operating leases and a right-of-use asset and lease liability of $3.3 million related to financing leases. In addition, as a result of the adoption of ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , the Company had a non-cash transaction in the amount of $640,000 associated with the recognition of a receivable for wealth management fees as of December 31, 2019. The Company also had a non-cash transfer of the AMT credit carryforward to other assets in the amount of $287,000 in 2018. The Company made total interest payments of $11,040,000 in 2020; $13,779,000 in 2019; and $11,298,000 in 2018.
INCOME TAXES:	INCOME TAXES: Deferred tax assets or liabilities are computed based on the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate. Deferred income tax expenses or credits are based on the changes in the corresponding asset or liability from period to period. Deferred tax assets are reduced, if necessary, by the amounts of such benefits that are not expected to be realized based upon available evidence.
INTEREST RATE CONTRACTS:	INTEREST RATE CONTRACTS: The Company recognizes all derivatives as either assets or liabilities on the Consolidated Balance Sheets and measures those instruments at fair value. For derivatives designated as fair value hedges, changes in the fair value of the derivative and hedged item related to the hedged risk are recognized in earnings. Changes in fair value of derivatives designated and accounted as cash flow hedges, to the extent they are effective as hedges, are recorded in “Other Comprehensive Income,” net of deferred taxes and are subsequently reclassified to earnings when the hedged transaction affects earnings. Any hedge ineffectiveness would be recognized in the income statement line item pertaining to the hedged item. The Company periodically enters into derivative instruments to meet the financing, interest rate and equity risk management needs of its customers. Upon entering into these instruments to meet customer needs, the Company enters into offsetting positions to minimize interest rate and equity risk to the Company. These derivative financial instruments are reported at fair value with any resulting gain or loss recorded in current period earnings. These instruments and their offsetting positions are recorded in other assets and other liabilities on the Consolidated Balance Sheets.
PENSION:	PENSION: Pension costs and liabilities are dependent on assumptions used in calculating such amounts. These assumptions include discount rates, benefits earned, interest costs, expected return on plan assets, mortality rates, and other factors. In accordance with GAAP, actual results that differ from the assumptions are accumulated and amortized over future periods and, therefore, generally affect recognized expense and the recorded obligation of future periods. While management believes that the assumptions used are appropriate, differences in actual experience or changes in assumptions may affect the Company’s pension obligations and future expense. Additionally, pension expense can also be impacted by settlement accounting charges if the amount of employees selected lump sum distributions exceed the total amount of service and interest component costs of the net periodic pension cost in a particular year. The service cost component of net periodic benefit cost is determined by aggregating the product of the discounted cash flows of the plan’s service cost for each year and an individual spot rate (referred to as the “spot rate” approach). The interest cost component is determined by aggregating the product of the discounted cash flows of the plan’s projected benefit obligations for each year and an individual spot rate. Management believes this methodology is an appropriate measure of the service cost and interest cost as each year’s cash flows are specifically linked to the interest rates of bond payments in the same respective year. Our pension benefits are described further in Note 17 of the Notes to Consolidated Financial Statements.
FAIR VALUE OF FINANCIAL INSTRUMENTS:	FAIR VALUE OF FINANCIAL INSTRUMENTS: We group our assets at fair value in three levels, based on the markets in which the assets are traded and the reliability of the assumptions used to determine fair value. These levels are: Level I — Valuation is based upon quoted prices for identical instruments traded in active markets. Level II — Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level III — Valuation is generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect the Company’s own estimates of assumptions that market participants would use in pricing the asset. We base our fair values on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. It is our policy to maximize the use of observable inputs and minimize the use of unobservable inputs when developing fair value measurements, in accordance with the fair value hierarchy in generally accepted accounting principles.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of Earnings Per Common Share	YEAR ENDED DECEMBER 31, 2020 2019 2018 (IN THOUSANDS, EXCEPT PER SHARE DATA) Numerator: Net income $ 4,598 $ 6,028 $ 7,768 Denominator: Weighted average common shares outstanding (basic) 17,053 17,359 17,933 Effect of stock options 10 81 104 Weighted average common shares outstanding (diluted) 17,063 17,440 18,037 Earnings per common share: Basic $ 0.27 $ 0.35 $ 0.43 Diluted 0.27 0.35 0.43

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	12 Months Ended
	Dec. 31, 2020
REVENUE RECOGNITION
Schedule of non-interest income, segregated by revenue	The following presents non-interest income, segregated by revenue streams in-scope and out-of-scope of Topic 606, for the years ended December 31, 2020, 2019, and 2018 (in thousands). AT DECEMBER 31, 2020 2019 2018 Non-interest income: In-scope of Topic 606 Wealth management fees $ 10,212 $ 9,730 $ 9,659 Service charges on deposit accounts 903 1,271 1,420 Other 1,708 1,759 1,720 Non-interest income (in-scope of topic 606) 12,823 12,760 12,799 Non-interest income (out-of-scope of topic 606) 3,452 2,013 1,425 Total non-interest income $ 16,275 $ 14,773 $ 14,224

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2020
INVESTMENT SECURITIES
Schedule of cost basis and fair values of investment securities	The cost basis and fair values of investment securities are summarized as follows: Investment securities available for sale: DECEMBER 31, 2020 GROSS GROSS UNREALIZED UNREALIZED FAIR COST BASIS GAINS LOSSES VALUE (IN THOUSANDS) U.S. Agency $ 2,971 $ 181 $ — $ 3,152 U.S. Agency mortgage-backed securities 65,398 2,533 (18) 67,913 Municipal 19,000 1,348 — 20,348 Corporate bonds 52,315 666 (229) 52,752 Total $ 139,684 $ 4,728 $ (247) $ 144,165 Investment securities held to maturity: DECEMBER 31, 2020 GROSS GROSS UNREALIZED UNREALIZED FAIR COST BASIS GAINS LOSSES VALUE (IN THOUSANDS) U.S. Agency mortgage-backed securities $ 8,119 $ 369 $ — $ 8,488 Municipal 30,076 2,455 (49) 32,482 Corporate bonds and other securities 6,027 113 (4) 6,136 Total $ 44,222 $ 2,937 $ (53) $ 47,106 Investment securities available for sale: DECEMBER 31, 2019 GROSS GROSS UNREALIZED UNREALIZED FAIR COST BASIS GAINS LOSSES VALUE (IN THOUSANDS) U.S. Agency $ 5,084 $ 32 $ — $ 5,116 U.S. Agency mortgage-backed securities 80,046 1,681 (94) 81,633 Municipal 14,678 509 (17) 15,170 Corporate bonds 39,769 342 (281) 39,830 Total $ 139,577 $ 2,564 $ (392) $ 141,749 Investment securities held to maturity: DECEMBER 31, 2019 GROSS GROSS UNREALIZED UNREALIZED FAIR COST BASIS GAINS LOSSES VALUE (IN THOUSANDS) U.S. Agency mortgage-backed securities $ 9,466 $ 251 $ (4) $ 9,713 Municipal 24,438 941 (53) 25,326 Corporate bonds and other securities 6,032 58 (47) 6,043 Total $ 39,936 $ 1,250 $ (104) $ 41,082
Schedule of investment securities	Investment securities available for sale: AT DECEMBER 31, 2020 TOTAL U.S. AGENCY INVESTMENT MORTGAGE- SECURITIES CORPORATE BACKED AVAILABLE FOR U. S. AGENCY MUNICIPAL BONDS SECURITIES SALE (IN THOUSANDS, EXCEPT YIELDS) COST BASIS Within 1 year $ — — % $ 598 2.14 % $ 4,459 2.64 % $ — — % $ 2.58 % After 1 year but within 5 years — — 7,104 2.76 15,119 3.18 2.76 After 5 years but within 10 years 741 2.69 11,298 3.01 32,087 2.60 3.62 After 10 years but within 15 years — — — — 650 3.92 15,481 2.70 2.75 Over 15 years 2,230 2.68 — — — — 41,627 2.31 2.33 Total $ 2,971 2.68 $ 19,000 2.89 $ 52,315 $ 65,398 2.46 $ 139,684 2.93 FAIR VALUE Within 1 year $ — $ 601 $ $ — $ After 1 year but within 5 years — 7,483 After 5 years but within 10 years 780 12,264 After 10 years but within 15 years — — 16,269 Over 15 years 2,372 — — 42,952 Total $ 3,152 $ 20,348 $ 52,752 $ 67,913 $ 144,165 Investment securities held to maturity: AT DECEMBER 31, 2020 U.S. AGENCY MORTGAGE- TOTAL INVESTMENT BACKED CORPORATE SECURITIES SECURITIES MUNICIPAL BONDS AND OTHER HELD TO MATURITY (IN THOUSANDS, EXCEPT YIELDS) COST BASIS Within 1 year $ — — % $ 2.84 % $ 2.95 % $ 2.94 % After 1 year but within 5 years 2.83 3.25 3.47 3.28 After 5 years but within 10 years — — 3.38 — — 3.38 After 10 years but within 15 years 3.55 3.01 — — 3.12 Over 15 years 2.01 3.50 — — 2.09 Total $ 2.44 $ 3.28 $ 3.21 $ 3.11 FAIR VALUE Within 1 year $ — $ $ $ After 1 year but within 5 years After 5 years but within 10 years — — After 10 years but within 15 years — Over 15 years — Total $ $ $ $
Schedule of investments with unrealized losses	The following table presents information concerning investments with unrealized losses as of December 31, 2020 (in thousands): Total investment securities: DECEMBER 31, 2020 LESS THAN 12 MONTHS 12 MONTHS OR LONGER TOTAL FAIR UNREALIZED FAIR UNREALIZED FAIR UNREALIZED VALUE LOSSES VALUE LOSSES VALUE LOSSES U.S. Agency $ — $ — $ — $ — $ — $ — U.S. Agency mortgage-backed securities 6,394 (17) 123 (1) 6,517 (18) Municipal — — 751 (49) 751 (49) Corporate bonds and other securities 13,083 (162) 7,929 (71) 21,012 (233) Total $ 19,477 $ (179) $ 8,803 $ (121) $ 28,280 $ (300) The following table presents information concerning investments with unrealized losses as of December 31, 2019 (in thousands): Total investment securities: DECEMBER 31, 2019 LESS THAN 12 MONTHS 12 MONTHS OR LONGER TOTAL FAIR UNREALIZED FAIR UNREALIZED FAIR UNREALIZED VALUE LOSSES VALUE LOSSES VALUE LOSSES U.S. Agency $ — $ — $ — $ — $ — $ — U.S. Agency mortgage-backed securities 7,084 (23) 8,562 (75) 15,646 (98) Municipal 2,269 (18) 1,123 (52) 3,392 (70) Corporate bonds and other securities 7,797 (85) 11,783 (243) 19,580 (328) Total $ $ (126) $ $ (370) $ 38,618 $ (496)

LOANS (Tables)

LOANS (Tables)	12 Months Ended
	Dec. 31, 2020
LOANS
Schedule of loan portfolio	The loan portfolio of the Company consisted of the following: AT DECEMBER 31, 2020 2019 (IN THOUSANDS) Commercial: Commercial and industrial $ 151,162 $ 173,922 Paycheck Protection Program (PPP) 58,344 — Commercial loans secured by owner occupied real estate 95,486 91,655 Commercial loans secured by non-owner occupied real estate 400,751 363,635 Real estate − residential mortgage 249,989 235,239 Consumer 16,363 18,255 Loans, net of unearned income $ 972,095 $
Summary of risk concentrations for commercial and commercial real estate loans by industry type	The following table provides information regarding our potential COVID-19 risk concentrations for commercial and commercial real estate loans by industry type at December 31, 2020 (in thousands). Paycheck Commercial loans Commercial loans Commercial Protection secured by owner secured by non-owner and industrial Program occupied real estate occupied real estate Total 1-4 unit residential $ 1,450 $ — $ 105 $ 6,139 $ 7,694 Multifamily/apartments/student housing — — 469 66,879 67,348 Office 33,525 6,872 10,095 37,164 87,656 Retail 8,080 1,542 21,180 124,325 155,127 Industrial/manufacturing/warehouse 87,021 26,222 18,255 38,814 170,312 Hotels 329 837 — 41,779 42,945 Eating and drinking places 769 13,479 4,390 1,925 20,563 Amusement and recreation 190 46 3,307 38 3,581 Mixed use — — 2,411 65,585 67,996 Other 19,798 9,346 35,274 18,103 82,521 Total $ 151,162 $ 58,344 $ 95,486 $ 400,751 $ 705,743

ALLOWANCE FOR LOAN LOSSES (Tabl

ALLOWANCE FOR LOAN LOSSES (Tables)	12 Months Ended
	Dec. 31, 2020
ALLOWANCE FOR LOAN LOSSES
Schedule of Loan losses by portfolio segment	The following table summarizes the rollforward of the allowance for loan losses by portfolio segment (in thousands). BALANCE AT CHARGE- PROVISION BALANCE AT DECEMBER 31, 2019 OFFS RECOVERIES (CREDIT) DECEMBER 31, 2020 Commercial $ 3,951 $ (111) $ 4 $ (372) $ 3,472 Commercial loans secured by non-owner occupied real estate 3,119 — 44 2,210 5,373 Real estate − residential mortgage 1,159 (233) 62 304 1,292 Consumer 126 (143) 68 64 115 Allocation for general risk 924 — — 169 1,093 Total $ 9,279 $ (487) $ 178 $ 2,375 $ 11,345 BALANCE AT CHARGE- PROVISION BALANCE AT DECEMBER 31, 2018 OFFS RECOVERIES (CREDIT) DECEMBER 31, 2019 Commercial $ 3,057 $ (9) $ 22 $ 881 $ 3,951 Commercial loans secured by non-owner occupied real estate 3,389 (63) 48 (255) 3,119 Real estate − residential mortgage 1,235 (98) 118 (96) 1,159 Consumer 127 (262) 52 209 126 Allocation for general risk 863 — — 61 924 Total $ 8,671 $ (432) $ 240 $ 800 $ 9,279 BALANCE AT CHARGE- PROVISION BALANCE AT DECEMBER 31, 2017 OFFS RECOVERIES (CREDIT) DECEMBER 31, 2018 Commercial $ 4,298 $ (574) $ 31 $ (698) $ 3,057 Commercial loans secured by non-owner occupied real estate 3,666 — 51 (328) 3,389 Real estate − residential mortgage 1,102 (380) 119 394 1,235 Consumer 128 (251) 61 189 127 Allocation for general risk 1,020 — — (157) 863 Total $ 10,214 $ (1,205) $ 262 $ (600) $ 8,671
Schedule of Loan loss by the primary segments	The following tables summarize the loan portfolio and allowance for loan losses by the primary segments of the loan portfolio. AT DECEMBER 31, 2020 COMMERCIAL LOANS SECURED BY NON- REAL ESTATE − OWNER OCCUPIED RESIDENTIAL Loans: COMMERCIAL REAL ESTATE MORTGAGE CONSUMER TOTAL (IN THOUSANDS) Individually evaluated for impairment $ 847 $ 8 $ — $ — $ 855 Collectively evaluated for impairment 304,145 400,743 249,989 16,363 971,240 Total loans $ 304,992 $ 400,751 $ 249,989 $ 16,363 $ 972,095 AT DECEMBER 31, 2020 COMMERCIAL LOANS ALLOCATION SECURED BY NON- REAL ESTATE − FOR Allowance OWNER OCCUPIED RESIDENTIAL GENERAL for loan losses: COMMERCIAL REAL ESTATE MORTGAGE CONSUMER RISK TOTAL (IN THOUSANDS) Specific reserve allocation $ 96 $ 8 $ — $ — $ — $ 104 General reserve allocation 3,376 5,365 1,292 115 1,093 11,241 Total allowance for loan losses $ 3,472 $ 5,373 $ 1,292 $ 115 $ 1,093 $ 11,345 AT DECEMBER 31, 2019 COMMERCIAL LOANS SECURED BY NON- REAL ESTATE − OWNER OCCUPIED RESIDENTIAL Loans: COMMERCIAL REAL ESTATE MORTGAGE CONSUMER TOTAL (IN THOUSANDS) Individually evaluated for impairment $ 816 $ 8 $ — $ — $ 824 Collectively evaluated for impairment 264,761 363,627 235,239 18,255 881,882 Total loans $ 265,577 $ 363,635 $ 235,239 $ 18,255 $ 882,706 AT DECEMBER 31, 2019 COMMERCIAL LOANS ALLOCATION SECURED BY NON- REAL ESTATE − FOR Allowance OWNER OCCUPIED RESIDENTIAL GENERAL for loan losses: COMMERCIAL REAL ESTATE MORTGAGE CONSUMER RISK TOTAL (IN THOUSANDS) Specific reserve allocation $ 84 $ 8 $ — $ — $ — $ 92 General reserve allocation 3,867 3,111 1,159 126 924 9,187 Total allowance for loan losses $ 3,951 $ 3,119 $ 1,159 $ 126 $ 924 $ 9,279
Schedule of Present impaired loans by portfolio segment	The following tables present impaired loans by portfolio segment, segregated by those for which a specific allowance was required and those for which a specific allowance was not necessary. AT DECEMBER 31, 2020 IMPAIRED LOANS WITH IMPAIRED LOANS WITH NO SPECIFIC SPECIFIC ALLOWANCE ALLOWANCE TOTAL IMPAIRED LOANS UNPAID RECORDED RELATED RECORDED RECORDED PRINCIPAL INVESTMENT ALLOWANCE INVESTMENT INVESTMENT BALANCE (IN THOUSANDS) Commercial $ 847 $ 96 $ — $ 847 $ 850 Commercial loans secured by non-owner occupied real estate 8 8 — 8 30 Total impaired loans $ 855 $ 104 $ — $ 855 $ 880 AT DECEMBER 31, 2019 IMPAIRED LOANS WITH IMPAIRED LOANS WITH NO SPECIFIC SPECIFIC ALLOWANCE ALLOWANCE TOTAL IMPAIRED LOANS UNPAID RECORDED RELATED RECORDED RECORDED PRINCIPAL INVESTMENT ALLOWANCE INVESTMENT INVESTMENT BALANCE (IN THOUSANDS) Commercial 816 $ 84 $ — $ 816 $ 816 Commercial loans secured by non-owner occupied real estate $ 8 $ 8 $ — $ 8 $ 30 Total impaired loans $ 824 $ 92 $ — $ 824 $ 846
Schedule of Investment in impaired loans and related interest income	The following table presents the average recorded investment in impaired loans and related interest income recognized for the periods indicated. YEAR ENDED DECEMBER 31, 2020 2019 2018 (IN THOUSANDS) Average impaired balance: Commercial $ 839 $ 597 $ 228 Commercial loans secured by non-owner occupied real estate 8 10 12 Average investment in impaired loans $ 847 $ 607 $ 240 Interest income recognized: Commercial $ 38 $ 30 $ — Commercial loans secured by non-owner occupied real estate — — — Interest income recognized on a cash basis on impaired loans $ 38 $ 30 $ —
Schedule of Commercial and commercial real estate loan portfolios	The following table presents the classes of the commercial and commercial real estate loan portfolios summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system. AT DECEMBER 31, 2020 SPECIAL PASS MENTION SUBSTANDARD DOUBTFUL TOTAL (IN THOUSANDS) Commercial and industrial $ 134,186 $ 13,722 $ 3,254 $ — $ 151,162 Paycheck Protection Program (PPP) 58,344 — — — 58,344 Commercial loans secured by owner occupied real estate 92,189 2,154 1,143 — 95,486 Commercial loans secured by non-owner occupied real estate 371,815 23,980 4,948 8 400,751 Total $ 656,534 $ 39,856 $ 9,345 $ 8 $ 705,743 AT DECEMBER 31, 2019 SPECIAL PASS MENTION SUBSTANDARD DOUBTFUL TOTAL (IN THOUSANDS) Commercial and industrial $ 161,147 $ 853 $ 11,922 $ — $ 173,922 Commercial loans secured by owner occupied real estate 88,942 1,384 1,329 — 91,655 Commercial loans secured by non-owner occupied real estate 362,027 — 1,600 8 363,635 Total $ 612,116 $ 2,237 $ 14,851 $ 8 $ 629,212
Schedule of Residential and consumer portfolio	The following tables present the performing and non-performing outstanding balances of the residential and consumer portfolio classes. AT DECEMBER 31, 2020 NON- PERFORMING PERFORMING TOTAL (IN THOUSANDS) Real estate – residential mortgage $ 247,520 $ 2,469 $ 249,989 Consumer 16,356 7 16,363 Total $ 263,876 $ 2,476 $ 266,352 AT DECEMBER 31, 2019 NON- PERFORMING PERFORMING TOTAL (IN THOUSANDS) Real estate – residential mortgage $ 233,760 $ 1,479 $ 235,239 Consumer 18,255 — 18,255 Total $ 252,015 $ 1,479 $ 253,494
Schedule of Credit quality of the loan portfolio	The following tables present the classes of the loan portfolio summarized by the aging categories of performing loans and non-accrual loans. AT DECEMBER 31, 2020 90 DAYS 30 – 59 60 – 89 PAST DUE DAYS DAYS 90 DAYS TOTAL TOTAL AND STILL CURRENT PAST DUE PAST DUE PAST DUE PAST DUE LOANS ACCRUING (IN THOUSANDS) Commercial and industrial $ 148,023 $ 536 $ 2,603 $ — $ 3,139 $ 151,162 $ — Paycheck Protection Program (PPP) 58,344 — — — — 58,344 $ — Commercial loans secured by owner occupied real estate 95,486 — — — — 95,486 — Commercial loans secured by non-owner occupied real estate 399,850 230 671 — 901 400,751 — Real estate – residential mortgage 246,279 776 1,178 1,756 3,710 249,989 — Consumer 16,274 82 — 7 89 16,363 — Total $ 964,256 $ 1,624 $ 4,452 $ 1,763 $ 7,839 $ 972,095 $ — AT DECEMBER 31, 2019 90 DAYS 30 – 59 60 – 89 PAST DUE DAYS DAYS 90 DAYS TOTAL TOTAL AND STILL CURRENT PAST DUE PAST DUE PAST DUE PAST DUE LOANS ACCRUING (IN THOUSANDS) Commercial and industrial $ 173,922 $ — $ — $ — $ — $ 173,922 $ — Commercial loans secured by owner occupied real estate 91,538 117 — — 117 91,655 — Commercial loans secured by non-owner occupied real estate 363,635 — — — — 363,635 — Real estate – residential mortgage 231,022 2,331 864 1,022 4,217 235,239 — Consumer 18,190 42 23 — 65 18,255 — Total $ 878,307 $ 2,490 $ 887 $ 1,022 $ 4,399 $ 882,706 $ —

NON-PERFORMING ASSETS INCLUDI_2

NON-PERFORMING ASSETS INCLUDING TROUBLED DEBT RESTRUCTURINGS (Tables)	12 Months Ended
	Dec. 31, 2020
NON-PERFORMING ASSETS INCLUDING TROUBLED DEBT RESTRUCTURINGS
Schedule of nonperforming assets including trouble debt restructurings	The following table presents information concerning non-performing assets including TDR: AT DECEMBER 31, 2020 2019 (IN THOUSANDS, EXCEPT PERCENTAGES) Non-accrual loans: Commercial and industrial $ 16 $ — Commercial loans secured by non-owner occupied real estate 8 8 Real estate – residential mortgage 2,469 1,479 Consumer 7 — Total 2,500 1,487 Other real estate owned: Real estate – residential mortgage — 37 Total — 37 TDR’s not in non-accrual: Commercial and industrial 831 815 Total 831 815 Total non-performing assets including TDR $ 3,331 $ 2,339 Total non-performing assets as a percent of loans, net of unearned income, and other real estate owned 0.34 % 0.26 %
Schedule of troubled debt restructurings on financing receivables	The following table details the loans modified in TDRs during the year ended December 31, 2020 (dollars in thousands). Loans in accrual status # of Loans Current Balance Concession Granted Commercial and industrial 1 $ 750 Subsequent modification of a TDR - Extension of maturity date with a below market interest rate Commercial and industrial 1 47 Extension of maturity date with a below market interest rate The following table details the loans modified in TDRs during the year ended December 31, 2019 (dollars in thousands). Loans in accrual status # of Loans Current Balance Concession Granted Commercial and industrial 2 $ 816 Extension of maturity date with a below market interest rate Loans in non-accrual status Commercial loans secured by non-owner occupied real estate 1 $ 8 Extension of maturity date
Summary of loans for which payment relief has been requested related to COVID-19	At December 31, 2020 At September 30, 2020 % of Outstanding % of Outstanding Balance Non-PPP Loans Balance Non-PPP Loans (in thousands) (in thousands) CRE/Commercial $ 47,037 7.0 % $ 140,132 21.8 % Home Equity/Consumer 83 0.1 160 0.2 Residential Mortgage 1,943 1.3 4,069 2.9 Total $ 49,063 5.3 $ 144,361 16.4
Summary of deferral of principal and interest payments	At December 31, 2020 At September 30, 2020 Number of Loans Balance Number of Loans Balance (in thousands) (in thousands) Type of Payment Relief Interest only payments 11 $ 26,900 67 $ 74,680 Complete payment deferrals 59 22,163 127 69,681 Total 70 $ 49,063 194 $ 144,361

PREMISES AND EQUIPMENT (Tables)

PREMISES AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2020
PREMISES AND EQUIPMENT
Schedule of premises and equipment	An analysis of premises and equipment follows: AT DECEMBER 31, 2020 2019 (IN THOUSANDS) Land $ 1,198 $ 1,198 Premises 28,070 27,711 Furniture and equipment 8,502 8,632 Leasehold improvements 1,174 1,174 Total at cost 38,944 38,715 Less: Accumulated depreciation and amortization 24,608 24,072 Premises and equipment, net $ 14,336 $ 14,643

LEASE COMMITMENTS (Tables)

LEASE COMMITMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
LEASE COMMITMENTS
Schedule of lease cost associated with both operating and financing leases	Total rent expense recorded during the year ended December 31, 2018 was $415,000. YEAR ENDED DECEMBER 31, 2020 2019 (IN THOUSANDS) Lease cost Financing lease cost: Amortization of right-of-use asset $ 271 $ 258 Interest expense 112 117 Operating lease cost 116 117 Total lease cost $ 499 $ 492
Schedule of weighted average discount rates and the remaining term of the leases	The following table presents the weighted-average remaining lease term and discount rate for the leases outstanding at December 31, 2020 and 2019. AT DECEMBER 31, 2020 2019 OPERATING FINANCING OPERATING FINANCING Weighted-average remaining term (years) 11.4 16.0 11.9 17.1 Weighted-average discount rate 3.49 % 3.52 % 3.46 % 3.60 %
Schedule of reconciliation to the discounted amount recorded on the consolidated balance sheets	The following table presents the undiscounted cash flows due related to operating and financing leases as of December 31, 2020 and 2019, along with a reconciliation to the discounted amount recorded on the Consolidated Balance Sheets. DECEMBER 31, 2020 OPERATING FINANCING (IN THOUSANDS) Undiscounted cash flows due: Within 1 year $ 120 $ 316 After 1 year but within 2 years 98 320 After 2 years but within 3 years 69 309 After 3 years but within 4 years 69 249 After 4 years but within 5 years 69 248 After 5 years 520 2,760 Total undiscounted cash flows 945 4,202 Discount on cash flows (169) (1,093) Total lease liabilities $ 776 $ 3,109 DECEMBER 31, 2019 OPERATING FINANCING (IN THOUSANDS) Undiscounted cash flows due: Within 1 year $ 118 $ 296 After 1 year but within 2 years 120 275 After 2 years but within 3 years 98 277 After 3 years but within 4 years 69 274 After 4 years but within 5 years 69 236 After 5 years 589 3,007 Total undiscounted cash flows 1,063 4,365 Discount on cash flows (198) (1,202) Total lease liabilities $ 865 $ 3,163

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2020
DEPOSITS
Schedule of company's deposits	The following table sets forth the balance of the Company’s deposits: AT DECEMBER 31, 2020 2019 (IN THOUSANDS) Demand: Non-interest bearing $ 177,533 $ 136,462 Interest bearing 200,969 177,767 Savings 112,353 95,933 Money market 219,919 208,343 Certificates of deposit in denominations of $100,000 or more 48,931 38,770 Other time 295,215 303,238 Total deposits $ 1,054,920 $ 960,513
Schedule of time deposit maturities	The following table sets forth the balance of other time deposits and certificates of deposit of $100,000 or more as of December 31, 2020 maturing in the periods presented: CERTIFICATES OF DEPOSIT YEAR: OTHER TIME DEPOSITS OF $100,000 OR MORE TOTAL (IN THOUSANDS) 2021 $ 174,109 $ 45,646 $ 219,755 2022 63,046 2,714 65,760 2023 23,670 400 24,070 2024 15,146 171 15,317 2025 10,293 — 10,293 2026 and after 8,951 — 8,951 Total $ 295,215 $ 48,931 $ 344,146

SHORT-TERM BORROWINGS (Tables)

SHORT-TERM BORROWINGS (Tables)	12 Months Ended
	Dec. 31, 2020
SHORT-TERM BORROWINGS
Schedule of short-term borrowings	Short-term borrowings, which consist of federal funds purchased and other short-term borrowings are summarized as follows: AT DECEMBER 31, 2020 FEDERAL FUNDS SHORT-TERM PURCHASED BORROWINGS (IN THOUSANDS, EXCEPT RATES) Balance $ — $ 24,702 Maximum balance at any month end 2,000 41,632 Average balance during year 18 4,929 Average rate paid for the year 0.87 % 0.58 % Interest rate on year-end balance — 0.41 AT DECEMBER 31, 2019 FEDERAL FUNDS SHORT-TERM PURCHASED BORROWINGS (IN THOUSANDS, EXCEPT RATES) Balance $ — $ 22,412 Maximum balance at any month end — 49,615 Average balance during year 58 11,030 Average rate paid for the year 3.04 % 2.59 % Interest rate on year-end balance — 1.81 AT DECEMBER 31, 2018 FEDERAL FUNDS SHORT-TERM PURCHASED BORROWINGS (IN THOUSANDS, EXCEPT RATES) Balance $ — $ 41,029 Maximum balance at any month end — 82,932 Average balance during year 54 33,073 Average rate paid for the year 1.70 % 2.17 % Interest rate on year-end balance — 2.62

ADVANCES FROM FEDERAL HOME LO_2

ADVANCES FROM FEDERAL HOME LOAN BANK, GUARANTEED JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES AND SUBORDINATED DEBT (Tables)	12 Months Ended
	Dec. 31, 2020
ADVANCES FROM FEDERAL HOME LOAN BANK, GUARANTEED JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES AND SUBORDINATED DEBT
Schedule Of Federal Home Loan Bank Borrowings By Maturity[Table Text Block]	Advances from the FHLB consist of the following: AT DECEMBER 31, 2020 WEIGHTED AVERAGE YIELD BALANCE MATURING (IN THOUSANDS, EXCEPT RATES) 2021 1.00 % $ 24,336 2022 2.03 20,888 2023 1.59 15,568 2024 1.19 4,197 Total advances from FHLB 1.48 $ 64,989 AT DECEMBER 31, 2019 WEIGHTED AVERAGE YIELD BALANCE MATURING (IN THOUSANDS, EXCEPT RATES) 2020 1.75 % $ 18,729 2021 2.28 9,496 2022 2.21 17,838 2023 2.48 5,568 2024 1.86 2,037 Total advances from FHLB 2.08 $ 53,668

DISCLOSURES ABOUT FAIR VALUE _2

DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The following table presents the assets and liability measured and reported on the Consolidated Balance Sheets on a recurring basis at their fair value as of December 31, 2020 and 2019, by level within the fair value hierarchy (in thousands). FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2020 USING TOTAL (LEVEL 1) (LEVEL 2) (LEVEL 3) Equity securities (1) $ 443 $ 443 $ — $ — Available for sale securities: U.S. Agency 3,152 — 3,152 — U.S. Agency mortgage-backed securities 67,913 — 67,913 — Municipal 20,348 — 20,348 — Corporate bonds 52,752 — 52,752 — Fair value swap asset (1) 3,320 — 3,320 — Fair value swap liability (2) (3,320) — (3,320) — FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2019 USING TOTAL (LEVEL 1) (LEVEL 2) (LEVEL 3) Equity securities (1) $ 366 $ 366 $ — $ — Available for sale securities: U.S. Agency 5,116 — 5,116 — U.S. Agency mortgage-backed securities 81,633 — 81,633 — Municipal 15,170 — 15,170 — Corporate bonds 39,830 — 39,830 — Fair value swap asset (1) 959 — 959 — Fair value swap liability (2) (959) — (959) — (1) Included within other assets on the Consolidated Balance Sheets. (2) Included within other liabilities on the Consolidated Balance Sheets.
Fair Value Measurements, Nonrecurring [Table Text Block]	Assets measured and recorded at fair value on a non-recurring basis are summarized below (in thousands, except range data): FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2020 USING TOTAL (LEVEL 1) (LEVEL 2) (LEVEL 3) Impaired loans $ 258 $ — $ — $ 258 FAIR VALUE MEASUREMENTS AT DECEMBER 31, 2019 USING TOTAL (LEVEL 1) (LEVEL 2) (LEVEL 3) Impaired loans $ 255 $ — $ — $ 255 Other real estate owned 37 — — 37 Quantitative Information About Level 3 Fair Value Measurements Valuation Unobservable December 31, 2020 Fair Value Techniques Input Range (Wgtd Ave) Impaired loans $ 258 Appraisal of Appraisal 0% to 100% (3%) collateral (1) adjustments(2) Quantitative Information About Level 3 Fair Value Measurements Valuation Unobservable December 31, 2019 Fair Value Techniques Input Range (Wgtd Ave) Impaired loans $ 255 Appraisal of Appraisal 0% to 100% (3%) collateral (1) adjustments(2) Other real estate owned 37 Appraisal of Appraisal 0% to 57% (38%) collateral (1) adjustments(2) Liquidation 21% to 134% (30%) expenses (1) Fair Value is generally determined through independent appraisals of the underlying collateral, which generally include various level 3 inputs which are not identifiable. Also includes qualitative adjustments by management and estimated liquidation expenses. (2) Appraisals may be adjusted by management for qualitative factors such as economic conditions.

DISCLOSURES ABOUT FAIR VALUE _3

DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS
Schedule of estimated fair value and recorded carrying value	AT DECEMBER 31, 2020 Carrying Value Fair Value (Level 1) (Level 2) (Level 3) (IN THOUSANDS) FINANCIAL ASSETS: Investment securities – HTM $ 44,222 $ 47,106 $ — $ 44,108 $ 2,998 Loans held for sale 6,250 6,428 6,428 — — Loans, net of allowance for loan loss and unearned income 960,750 969,433 — — 969,433 FINANCIAL LIABILITIES: Deposits with stated maturities 311,064 314,845 — — 314,845 All other borrowings (1) 85,493 90,907 — — 90,907 AT DECEMBER 31, 2019 Carrying Value Fair Value (Level 1) (Level 2) (Level 3) (IN THOUSANDS) FINANCIAL ASSETS: Investment securities – HTM $ 39,936 $ 41,082 $ — $ 38,129 $ 2,953 Loans held for sale 4,868 4,970 4,970 — — Loans, net of allowance for loan loss and unearned income 873,427 873,908 — — 873,908 FINANCIAL LIABILITIES: Deposits with stated maturities 309,044 310,734 — — 310,734 All other borrowings (1) 74,134 76,323 — — 76,323 (1) All other borrowings include advances from Federal Home Loan Bank, guaranteed junior subordinated deferrable interest debentures, and subordinated debt.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2020
INCOME TAXES
Schedule of expense for income taxes, includes both federal and applicable state corporate income taxes	The expense for income taxes is summarized below and includes both federal and applicable state corporate income taxes: YEAR ENDED DECEMBER 31, 2020 2019 2018 (IN THOUSANDS) Current $ (400) $ 1,393 $ (988) Deferred 1,614 179 2,665 Income tax expense $ 1,214 $ 1,572 $ 1,677
Schedule of reconciliation between the federal statutory tax rate and the Company’s effective consolidated income tax rate	The reconciliation between the federal statutory tax rate and the Company’s effective consolidated income tax rate is as follows: YEAR ENDED DECEMBER 31, 2020 2019 2018 AMOUNT RATE AMOUNT RATE AMOUNT RATE (IN THOUSANDS, EXCEPT PERCENTAGES) Income tax expense based on federal statutory rate $ 1,221 21.0 % $ 1,596 21.0 % $ 1,983 21.0 % Tax exempt income (188) (3.2) (131) (1.4) (131) (1.4) Other 181 3.1 107 1.1 (175) (1.8) Total expense for income taxes $ 1,214 20.9 % $ 1,572 20.7 % $ 1,677 17.8 %
Schedule of deferred tax assets and liabilities	The following table highlights the major components comprising the deferred tax assets and liabilities for each of the periods presented: AT DECEMBER 31, 2020 2019 (IN THOUSANDS) DEFERRED TAX ASSETS: Allowance for loan losses $ 2,382 $ 1,949 Unfunded commitment reserve 183 215 Premises and equipment 686 1,129 Lease liabilities 816 — Accrued pension obligation — 1,093 Other 149 230 Total tax assets 4,216 4,616 DEFERRED TAX LIABILITIES: Investment accretion (88) (82) Unrealized investment security gains (941) (456) Lease right-of-use assets (780) — Accrued pension obligation (646) — Other (189) (102) Total tax liabilities (2,644) (640) Net deferred tax asset $ 1,572 $ 3,976
Schedule of change in net deferred tax assets and liabilities	The change in net deferred tax assets and liabilities consist of the following: YEAR ENDED DECEMBER 31, 2020 2019 (IN THOUSANDS) Unrealized gains recognized in comprehensive income $ (485) $ (830) Pension obligation of the defined benefit plan not yet recognized in income (305) 1,348 Deferred provision for income taxes (1,614) (179) Net increase (decrease) $ (2,404) $ 339

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	12 Months Ended
	Dec. 31, 2020
EMPLOYEE BENEFIT PLANS
Schedule of pension benefits	PENSION BENEFITS: YEAR ENDED DECEMBER 31, 2020 2019 (IN THOUSANDS) CHANGE IN BENEFIT OBLIGATION: Benefit obligation at beginning of year $ 49,561 $ 41,094 Service cost 1,676 1,470 Interest cost 1,281 1,569 Actuarial loss 6,085 7,758 Benefits paid (3,742) (2,330) Benefit obligation at end of year 54,861 49,561 CHANGE IN PLAN ASSETS: Fair value of plan assets at beginning of year 44,831 38,478 Actual return on plan assets 8,358 5,483 Employer contributions 9,000 3,200 Benefits paid (3,742) (2,330) Fair value of plan assets at end of year 58,447 44,831 Funded status of the plan $ 3,586 $ (4,730)
Schedule of amounts not yet recognized as a component of periodic pension cost	YEAR ENDED DECEMBER 31, 2020 2019 (IN THOUSANDS) AMOUNTS NOT YET RECOGNIZED AS A COMPONENT OF NET PERIODIC PENSION COST: Amounts recognized in accumulated other comprehensive loss consists of: Net actuarial loss $ 20,628 $ 22,113 Total $ 20,628 $ 22,113
Schedule of accumulated benefit obligation	YEAR ENDED DECEMBER 31, 2020 2019 (IN THOUSANDS) ACCUMULATED BENEFIT OBLIGATION: Accumulated benefit obligation $ 50,435 $ 45,501
Schedule of weighted-average assumptions used to determine benefit obligations	The weighted-average assumptions used to determine benefit obligations at December 31, 2020 and 2019 were as follows: YEAR ENDED DECEMBER 31, 2020 2019 WEIGHTED AVERAGE ASSUMPTIONS: Discount rate 2.47 % 3.20 % Salary scale 2.50 2.50
Schedule of net periodic pension cost	YEAR ENDED DECEMBER 31, 2020 2019 2018 (IN THOUSANDS) COMPONENTS OF NET PERIODIC BENEFIT COST: Service cost $ 1,676 $ 1,470 $ 1,482 Interest cost 1,281 1,569 1,273 Expected return on plan assets (3,241) (3,025) (2,798) Special termination benefit liability — — 63 Recognized net actuarial loss 2,453 1,649 1,548 Net periodic pension cost $ 2,169 $ 1,663 $ 1,568
Schedule of other changes in plan assets and benefit obligations recognized in other comprehensive loss	YEAR ENDED DECEMBER 31, 2020 2019 2018 (IN THOUSANDS) OTHER CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN OTHER COMPREHENSIVE LOSS Net loss $ 968 $ 5,300 $ 4,683 Recognized loss (2,453) (1,649) (1,548) Total recognized in other comprehensive loss before tax effect $ (1,485) $ 3,651 $ 3,135 Total recognized in net benefit cost and other comprehensive loss before tax effect $ 684 $ 5,314 $ 4,703
Schedule of weighted-average assumptions used to determine net periodic benefit cost	The weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31, 2020, 2019 and 2018 were as follows: YEAR ENDED DECEMBER 31, 2020 2019 2018 WEIGHTED AVERAGE ASSUMPTIONS: Discount rate 3.20 % 4.28 % 3.63 % Expected return on plan assets 7.00 7.50 7.50 Rate of compensation increase 2.50 2.50 2.50
Schedule of plan’s asset allocations	The plan’s measurement date is December 31, 2020. This plan’s asset allocation at December 31, 2020 and 2019, by asset category are as follows: YEAR ENDED DECEMBER 31, 2020 2019 ASSET CATEGORY: Cash and cash equivalents 1 % 1 % Domestic equities 11 8 Mutual funds/ETFs 82 82 International equities — 1 Corporate bonds 6 8 Total 100 % 100 %
Schedule of fair value of plan assets	The major categories of assets in the Company’s Pension Plan as of year-end are presented in the following table. Assets are segregated by the level of the valuation inputs within the fair value hierarchy established by ASC Topic 820 utilized to measure fair value. YEAR ENDED DECEMBER 31, 2020 2019 (IN THOUSANDS) Level 1: Cash and cash equivalents $ 725 $ 186 Domestic equities 6,219 3,782 Mutual funds/ETFs 48,009 36,469 International equities — 620 Level 2: Corporate bonds 3,494 3,774 Total fair value of plan assets $ 58,447 $ 44,831
Schedule of benefit payments	The following benefit payments, which reflect future service, as appropriate, are expected to be paid. ESTIMATED FUTURE YEAR: BENEFIT PAYMENTS (IN THOUSANDS) 2021 $ 4,733 2022 4,864 2023 4,410 2024 4,557 2025 4,064 Years 2026-2030 15,463

STOCK COMPENSATION PLANS (Table

STOCK COMPENSATION PLANS (Tables)	12 Months Ended
	Dec. 31, 2020
STOCK COMPENSATION PLANS
Schedule of company’s stock incentive plan	A summary of the status of the Company’s Stock Incentive Plan at December 31, 2020, 2019, and 2018, and changes during the years then ended is presented in the table and narrative following: YEAR ENDED DECEMBER 31, 2020 2019 2018 WEIGHTED WEIGHTED WEIGHTED AVERAGE AVERAGE AVERAGE SHARES EXERCISE PRICE SHARES EXERCISE PRICE SHARES EXERCISE PRICE Outstanding at beginning of year $ $ $ Granted — — 7,000 4.19 5,000 4.22 Exercised (38,235) 2.06 (40,917) 2.45 (24,408) 2.49 Forfeited (27,500) 3.30 (5,748) 2.44 (5,000) 1.92 Outstanding at end of year 230,913 3.14 296,648 3.02 336,313 2.91 Exercisable at end of year 224,580 3.11 282,565 2.96 307,814 2.86 Weighted average fair value of options granted in current year $ — $ 0.62 $ 0.56
Schedule of fair value of each option grant	The fair value of each option grant is estimated on the date of grant using the Binomial or Black-Scholes option pricing model with the following assumptions used for grants in 2020, 2019, and 2018. No stock options were granted during 2020. YEAR ENDED DECEMBER 31, PRICING MODEL ASSUMPTION RANGES 2020 2019 2018 Risk-free interest rate — % 2.65 % 3.13 % Expected lives in years — 10 10 Expected volatility — % 15.75 % 15.59 % Expected dividend rate — % 1.91 % 1.90 %

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	12 Months Ended
	Dec. 31, 2020
ACCUMULATED OTHER COMPREHENSIVE LOSS
Schedule of accumulated other comprehensive loss, net of tax	The following table presents the changes in each component of accumulated other comprehensive loss, net of tax, for the periods ending December 31, 2020, 2019, and 2018 (in thousands): YEAR ENDING DECEMBER 31, 2020 YEAR ENDED DECEMBER 31, 2019 YEAR ENDING DECEMBER 31, 2018 Net Net Net Unrealized Unrealized Unrealized Gains and Gains and Gains and Losses on Defined Losses on Defined Losses on Defined Investment Benefit Investment Benefit Investment Benefit Securities Pension Securities Pension Securities Pension AFS (1) Items (1) Total (1) AFS (1) Items (1) Total (1) AFS (1) Items (1) Total (1) Beginning balance $ 1,715 $ (17,886) $ (16,171) $ (1,409) $ (12,816) $ (14,225) $ (327) $ (12,623) $ (12,950) Other comprehensive income (loss) before reclassifications 1,824 (789) 1,035 3,217 (6,373) (3,156) (1,429) (1,416) (2,845) Amounts reclassified from accumulated other comprehensive loss — 1,938 1,938 (93) 1,303 1,210 347 1,223 1,570 Net current period other comprehensive income (loss) 1,824 1,149 2,973 3,124 (5,070) (1,946) (1,082) (193) (1,275) Ending balance $ 3,539 $ (16,737) $ (13,198) $ 1,715 $ (17,886) $ (16,171) $ (1,409) $ (12,816) $ (14,225) (1) Amounts in parentheses indicate debits on the Consolidated Balance Sheets.
Schedule of reclassification out of accumulated other comprehensive loss	The following table presents the amounts reclassified out of each component of accumulated other comprehensive loss for the periods ending December 31, 2020, 2019, and 2018 (in thousands): Amount reclassified from accumulated other comprehensive loss (1) Details about other comprehensive accumulated YEAR ENDING YEAR ENDING YEAR ENDING Affected line item in the loss components DECEMBER 31, 2020 DECEMBER 31, 2019 DECEMBER 31, 2018 statement of operations Realized (gains) losses on sale of securities $ — $ (118) $ 439 Net realized (gains) losses on investment securities — 25 (92) Provision for income taxes $ — $ (93) $ 347 Amortization of estimated defined benefit pension plan loss (2) $ 2,453 $ 1,649 $ 1,548 Other expense (515) (346) (325) Provision for income taxes $ 1,938 $ 1,303 $ 1,223 Total reclassifications for the period $ 1,938 $ 1,210 $ 1,570 (1) Amounts in parentheses indicate credits. These accumulated other comprehensive loss components are included in the computation of net periodic benefit cost (see Note 17 for additional details)

DERIVATIVE HEDGING INSTRUMENTS

DERIVATIVE HEDGING INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2020
DERIVATIVE HEDGING INSTRUMENTS
Schedule of interest rate swap transactions	The following table summarizes the interest rate swap transactions that impacted the Company’s 2020 and 2019 performance (in thousands, except percentages). DECEMBER 31, 2020 INCREASE AGGREGATE WEIGHTED (DECREASE) NOTIONAL AVERAGE RATE REPRICING IN INTEREST HEDGE TYPE AMOUNT RECEIVED/(PAID) FREQUENCY EXPENSE Swap assets N/A $ 46,760 2.91 % Monthly $ (523) Swap liabilities N/A (46,760) (2.91) Monthly 523 Net exposure — — — DECEMBER 31, 2019 INCREASE AGGREGATE WEIGHTED (DECREASE) NOTIONAL AVERAGE RATE REPRICING IN INTEREST HEDGE TYPE AMOUNT RECEIVED/(PAID) FREQUENCY EXPENSE Swap assets N/A $ 31,668 4.44 % Monthly $ (18) Swap liabilities N/A (31,668) (4.44) Monthly 18 Net exposure — — —

SEGMENT RESULTS (Tables)

SEGMENT RESULTS (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Results
Schedule of business segments	The contribution of the major business segments to the Consolidated Statements of Operations were as follows: YEAR ENDED DECEMBER 31, 2020 COMMUNITY WEALTH INVESTMENT/ BANKING MANAGEMENT PARENT TOTAL (IN THOUSANDS) Net interest income (expense) $ 42,862 $ 55 $ (6,550) $ 36,367 Provision for loan loss 2,375 — — 2,375 Non-interest income 6,022 10,212 41 16,275 Non-interest expense 34,136 7,683 2,636 44,455 Income (loss) before income taxes 12,373 2,584 (9,145) 5,812 Income tax expense (benefit) 2,303 598 (1,687) 1,214 Net income (loss) $ 10,070 $ 1,986 $ (7,458) $ 4,598 Total assets $ 1,083,819 $ 10,285 $ 185,609 $ 1,279,713 YEAR ENDED DECEMBER 31, 2019 COMMUNITY WEALTH INVESTMENT/ BANKING MANAGEMENT PARENT TOTAL (IN THOUSANDS) Net interest income (expense) $ 40,865 $ 81 $ (5,504) $ 35,442 Provision for loan loss 800 — — 800 Non-interest income 5,407 9,736 (370) 14,773 Non-interest expense 31,856 7,340 2,619 41,815 Income (loss) before income taxes 13,616 2,477 (8,493) 7,600 Income tax expense (benefit) 2,715 593 (1,736) 1,572 Net income (loss) $ 10,901 $ 1,884 $ (6,757) $ 6,028 Total assets $ 981,787 $ 10,361 $ 179,036 $ 1,171,184 YEAR ENDED DECEMBER 31, 2018 COMMUNITY WEALTH INVESTMENT/ BANKING MANAGEMENT PARENT TOTAL (IN THOUSANDS) Net interest income (expense) $ 39,195 $ 71 $ (3,772) $ 35,494 Credit provision for loan loss (600) — — (600) Non-interest income 4,832 9,651 (259) 14,224 Non-interest expense 30,809 7,319 2,745 40,873 Income (loss) before income taxes 13,818 2,403 (6,776) 9,445 Income tax expense (benefit) 2,764 554 (1,641) 1,677 Net income (loss) $ 11,054 $ 1,849 $ (5,135) $ 7,768 Total assets $ 966,910 $ 9,345 $ 184,425 $ 1,160,680

REGULATORY CAPITAL (Tables)

REGULATORY CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2020
REGULATORY CAPITAL
Schedule of compliance with regulatory capital requirements under banking regulations	The Company believes that no conditions or events have occurred that would change this conclusion as of such date. To be categorized as well capitalized, the Company must maintain minimum total capital, common equity tier 1 capital, tier 1 capital, and tier 1 leverage ratios as set forth in the table. AT DECEMBER 31, 2020 TO BE WELL MINIMUM CAPITALIZED REQUIRED UNDER FOR PROMPT CAPITAL CORRECTIVE ADEQUACY ACTION COMPANY BANK PURPOSES REGULATIONS* AMOUNT RATIO AMOUNT RATIO RATIO RATIO (IN THOUSANDS, EXCEPT RATIOS) Total Capital (To Risk Weighted Assets) $ 135,777 12.93 % $ 125,182 11.95 % 8.00 % 10.00 % Tier 1 Common Equity (To Risk Weighted Assets) 105,653 10.06 112,965 10.78 4.50 6.50 Tier 1 Capital (To Risk Weighted Assets) 117,556 11.20 112,965 10.78 6.00 8.00 Tier 1 Capital (To Average Assets) 117,556 9.29 112,965 9.03 4.00 5.00 AT DECEMBER 31, 2019 TO BE WELL MINIMUM CAPITALIZED REQUIRED UNDER FOR PROMPT CAPITAL CORRECTIVE ADEQUACY ACTION COMPANY BANK PURPOSES REGULATIONS* AMOUNT RATIO AMOUNT RATIO RATIO RATIO (IN THOUSANDS, EXCEPT RATIOS) Total Capital (To Risk Weighted Assets) $ 132,544 13.49 % $ 119,477 12.23 % 8.00 % 10.00 % Tier 1 Common Equity (To Risk Weighted Assets) 102,841 10.47 109,173 11.17 4.50 6.50 Tier 1 Capital (To Risk Weighted Assets) 114,729 11.68 109,173 11.17 6.00 8.00 Tier 1 Capital (To Average Assets) 114,729 9.87 109,173 9.50 4.00 5.00 * Applies to the Bank only.

PARENT COMPANY FINANCIAL INFO_2

PARENT COMPANY FINANCIAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2020
PARENT COMPANY FINANCIAL INFORMATION
Schedule of parent company information of balance sheets	BALANCE SHEETS AT DECEMBER 31, 2020 2019 (IN THOUSANDS) ASSETS Cash $ 100 $ 100 Short-term investments 1,998 2,544 Cash and cash equivalents 2,098 2,644 Investment securities available for sale 3,789 3,758 Equity investment in banking subsidiary 111,513 104,843 Equity investment in non-banking subsidiaries 7,327 7,830 Other assets 1,289 978 TOTAL ASSETS $ 126,016 $ 120,053 LIABILITIES Guaranteed junior subordinated deferrable interest debentures $ 12,970 $ 12,955 Subordinated debt 7,534 7,511 Other liabilities 1,113 973 TOTAL LIABILITIES 21,617 21,439 STOCKHOLDERS’ EQUITY Total stockholders’ equity 104,399 98,614 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 126,016 $ 120,053
Schedule of parent company information of statements of operations	STATEMENTS OF OPERATIONS YEAR ENDED DECEMBER 31, 2020 2019 2018 (IN THOUSANDS) INCOME Inter-entity management and other fees $ 2,708 $ 2,556 $ 2,430 Dividends from banking subsidiary 2,000 3,800 3,500 Dividends from non-banking subsidiaries 1,944 1,105 1,190 Interest, dividend and other income 106 186 119 TOTAL INCOME 6,758 7,647 7,239 EXPENSE Interest expense 1,642 1,642 1,642 Salaries and employee benefits 2,667 2,614 2,610 Other expense 1,749 1,707 1,733 TOTAL EXPENSE 6,058 5,963 5,985 INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED EARNINGS OF SUBSIDIARIES 700 1,684 1,254 Benefit for income taxes (681) (676) (722) Equity in undistributed earnings of subsidiaries 3,217 3,668 5,792 NET INCOME $ 4,598 $ 6,028 $ 7,768 COMPREHENSIVE INCOME $ 7,571 $ 4,082 $ 6,493
Schedule of parent company information of statements of cash flows	STATEMENTS OF CASH FLOWS YEAR ENDED DECEMBER 31, 2020 2019 2018 (IN THOUSANDS) OPERATING ACTIVITIES Net income $ 4,598 $ 6,028 $ 7,768 Adjustment to reconcile net income to net cash provided by operating activities: Equity in undistributed earnings of subsidiaries (3,217) (3,668) (5,792) Stock compensation expense 3 7 14 Other – net (55) (427) 433 NET CASH PROVIDED BY OPERATING ACTIVITIES 1,329 1,940 2,423 INVESTING ACTIVITIES Purchase of investment securities – available for sale (1,254) — (1,002) Proceeds from maturity and sales of investment securities – available for sale 1,246 1,085 1,462 NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (8) 1,085 460 FINANCING ACTIVITIES Purchases of treasury stock (151) (2,550) (2,346) Common stock dividends paid (1,716) (1,642) (1,347) NET CASH USED IN FINANCING ACTIVITIES (1,867) (4,192) (3,693) NET DECREASE IN CASH AND CASH EQUIVALENTS (546) (1,167) (810) CASH AND CASH EQUIVALENTS AT JANUARY 1 2,644 3,811 4,621 CASH AND CASH EQUIVALENTS AT DECEMBER 31 $ 2,098 $ 2,644 $ 3,811

SELECTED QUARTERLY CONSOLIDAT_2

SELECTED QUARTERLY CONSOLIDATED FINANCIAL DATA (Tables)	12 Months Ended
	Dec. 31, 2020
SELECTED QUARTERLY CONSOLIDATED FINANCIAL DATA
Schedule of quarterly consolidated financial data	The following table sets forth certain unaudited quarterly consolidated financial data regarding the Company: 2020 QUARTER ENDED DEC. 31 SEPT. 30 JUNE 30, MARCH 31, (IN THOUSANDS, EXCEPT PER SHARE DATA) Interest income $ 11,640 $ 11,237 $ 12,061 $ 11,944 Interest expense 2,288 2,446 2,588 3,193 Net interest income 9,352 8,791 9,473 8,751 Provision for loan losses 1,075 675 450 175 Net interest income after provision for loan losses 8,277 8,116 9,023 8,576 Non-interest income 4,372 4,304 3,767 3,832 Non-interest expense 11,709 11,107 11,006 10,633 Income before income taxes 940 1,313 1,784 1,775 Provision for income taxes 248 235 365 366 Net income $ 692 $ 1,078 $ 1,419 $ 1,409 Basic earnings per common share $ 0.04 $ 0.06 $ 0.08 $ 0.08 Diluted earnings per common share 0.04 0.06 0.08 0.08 Cash dividends declared per common share 0.025 0.025 0.025 0.025 2019 QUARTER ENDED DEC. 31 SEPT. 30 JUNE 30, MARCH 31, (IN THOUSANDS, EXCEPT PER SHARE DATA) Interest income $ 12,405 $ 12,433 $ 12,765 $ 12,164 Interest expense 3,445 3,669 3,704 3,507 Net interest income 8,960 8,764 9,061 8,657 Provision (credit) for loan losses 975 225 — (400) Net interest income after provision (credit) for loan losses 7,985 8,539 9,061 9,057 Non-interest income 3,416 4,095 3,657 3,605 Non-interest expense 10,563 10,503 10,456 10,293 Income before income taxes 838 2,131 2,262 2,369 Provision for income taxes 169 442 470 491 Net income $ 669 $ 1,689 $ 1,792 $ 1,878 Basic earnings per common share $ 0.04 $ 0.10 $ 0.10 $ 0.11 Diluted earnings per common share 0.04 0.10 0.10 0.11 Cash dividends declared per common share 0.025 0.025 0.025 0.020

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020USD ($)$ / shares	Sep. 30, 2020USD ($)$ / shares	Jun. 30, 2020USD ($)$ / shares	Mar. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)$ / shares	Sep. 30, 2019USD ($)$ / shares	Jun. 30, 2019USD ($)$ / shares	Mar. 31, 2019USD ($)$ / shares	Dec. 31, 2020USD ($)location$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Number of locations in Pennsylvania | location									15
Number of locations in state Maryland | location									1
Numerator:
Net income | $	$ 692	$ 1,078	$ 1,419	$ 1,409	$ 669	$ 1,689	$ 1,792	$ 1,878	$ 4,598	$ 6,028	$ 7,768
Denominator:
Weighted average common shares outstanding (basic)									17,053	17,359	17,933
Effect of stock options									10	81	104
Weighted average common shares outstanding (diluted)									17,063	17,440	18,037
Earnings per common share:
Basic | $ / shares	$ 0.04	$ 0.06	$ 0.08	$ 0.08	$ 0.04	$ 0.10	$ 0.10	$ 0.11	$ 0.27	$ 0.35	$ 0.43
Diluted | $ / shares	$ 0.04	$ 0.06	$ 0.08	$ 0.08	$ 0.04	$ 0.10	$ 0.10	$ 0.11	$ 0.27	$ 0.35	$ 0.43

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional information (Details)	12 Months Ended
	Dec. 31, 2020USD ($)locationlease$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Jan. 01, 2019USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of Stores	16
Number of locations | location	2
Assets under Management, Carrying Amount	$ 2,500,000,000
Federal Home Loan Bank Stock Par Value | $ / shares	$ 100
Threshold Period Past Due for Write-off of Financing Receivable	90 days
Description Of Accounting Treatment For Short Term Operating Lease	As of December 31, 2020, the Company had no short-term leases. As of December 31, 2019, the Company had one short-term equipment lease which it has elected to not record on the Consolidated Balance Sheets.
Financing Receivable, Individually Evaluated for Impairment	$ 855,000	$ 824,000
Financing Receivable, Recorded Investment	$ 964,256,000	$ 878,307,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares	139,759	12,000	5,000
Income Taxes Paid	$ 315,000	$ 785,000	$ 875,000
Real Estate Owned, Transfer from Real Estate Owned	40,000	75,000	166,000
Operating Lease, Right-of-Use Asset	758,000	846,000
Operating Lease, Liability	776,000	865,000
Finance Lease, Right-of-Use Asset	2,956,000	3,078,000
Finance Lease, Liability	3,109,000	3,163,000
Cumulative effect adjustment for change in accounting principal	54,641,000	51,759,000
Total interest payments	$ 11,040,000	$ 13,779,000	$ 11,298,000
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Price Of Anti Dilutive Option Amount | $ / shares			$ 4.22
Non Cash Transfer Of Applicable Minimum Tax To Other Assets			$ 287,000
Minimum
Summary Of Significant Accounting Policies [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Price Of Anti Dilutive Option Amount | $ / shares	$ 3.18	$ 4.19
Maximum
Summary Of Significant Accounting Policies [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Price Of Anti Dilutive Option Amount | $ / shares	$ 4.22	$ 4.22
ASU 2016-02 | Cumulative Effect, Period of Adoption, Adjustment [Member] | Revision of Prior Period, Adjustment [Member]
Summary Of Significant Accounting Policies [Line Items]
Operating Lease, Right-of-Use Asset				$ 932,000
Operating Lease, Liability				932,000
Finance Lease, Right-of-Use Asset				3,300,000
Finance Lease, Liability				$ 3,300,000
Wealth management | ASU 2014-09 | Cumulative Effect, Period of Adoption, Adjustment [Member]
Summary Of Significant Accounting Policies [Line Items]
Cumulative effect adjustment for change in accounting principal		$ 640,000
Commercial
Summary Of Significant Accounting Policies [Line Items]
Minimum aggregate balances for commercial loan relationship under structure loan rating process	$ 1,000,000
Small Business Loans [Member] | Maximum
Summary Of Significant Accounting Policies [Line Items]
Financing Receivable, Recorded Investment	250,000
Consumer and Residential Mortgage Loans [Member] | Minimum
Summary Of Significant Accounting Policies [Line Items]
Financing Receivable, Individually Evaluated for Impairment	$ 150,000
Premises [Member]
Summary Of Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	30 years
Equipment [Member]
Summary Of Significant Accounting Policies [Line Items]
Property, Plant and Equipment, Useful Life	10 years
New Finance Leased Assets [Member]
Summary Of Significant Accounting Policies [Line Items]
Number of financing leases | lease	2
Number of financing leases relating to office equipment | lease	1
Finance Lease, Right-of-Use Asset	$ 149,000
Finance Lease, Liability	$ 149,000

ADOPTION OF ACCOUNTING STANDARD

ADOPTION OF ACCOUNTING STANDARDS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Retained Earnings (Accumulated Deficit)	$ 54,641	$ 51,759
Operating lease right-of-use asset	758	846
Financing lease right-of-use asset	2,956	3,078
Operating Lease, Liability	776	865
Finance Lease, Liability	$ 3,109	$ 3,163

REVENUE RECOGNITION (Details)

REVENUE RECOGNITION (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Non-interest income (in-scope of topic 606)									$ 12,823	$ 12,760	$ 12,799
Non-interest income (out-of-scope of topic 606)									3,452	2,013	1,425
Total Non-Interest Income	$ 4,372	$ 4,304	$ 3,767	$ 3,832	$ 3,416	$ 4,095	$ 3,657	$ 3,605	16,275	14,773	14,224
Wealth management fees
Non-interest income (in-scope of topic 606)									10,212	9,730	9,659
Service charges on deposit accounts
Non-interest income (in-scope of topic 606)									903	1,271	1,420
Other
Non-interest income (in-scope of topic 606)									$ 1,708	$ 1,759	$ 1,720

REVENUE RECOGNITION - Additiona

REVENUE RECOGNITION - Additional information (Details)	12 Months Ended
	Dec. 31, 2020USD ($)
Percentage Of Entity Revenue	79.70%
Other assets
Wealth management fees receivable	$ 825,000

CASH AND DUE FROM DEPOSITORY _2

CASH AND DUE FROM DEPOSITORY INSTITUTIONS (Details) - USD ($) $ in Millions	Mar. 26, 2020	Dec. 31, 2019
CASH AND DUE FROM DEPOSITORY INSTITUTIONS
Restricted Cash and Cash Equivalents	$ 0	$ 3

INVESTMENT SECURITIES - Cost ba

INVESTMENT SECURITIES - Cost basis and fair values of investment securities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Information concerning investments with unrealized gains and losses
Investment securities available for sale, Cost Basis	$ 139,684	$ 139,577
Investment securities available for sale, Gross Unrealized Gains	4,728	2,564
Investment securities available for sale, Gross Unrealized Losses	(247)	(392)
Available for Sale, Fair Value, Total	144,165	141,749
Investment securities held to maturity, Cost Basis	44,222	39,936
Investment securities held to maturity, Gross Unrealized Gains	2,937	1,250
Investment securities held to maturity, Gross Unrealized Losses	(53)	(104)
Held to Maturity, Fair Value, Total	47,106	41,082
U.S. Agency
Information concerning investments with unrealized gains and losses
Investment securities available for sale, Cost Basis	2,971	5,084
Investment securities available for sale, Gross Unrealized Gains	181	32
Available for Sale, Fair Value, Total	3,152	5,116
U.S. Agency mortgage-backed securities
Information concerning investments with unrealized gains and losses
Investment securities available for sale, Cost Basis	65,398	80,046
Investment securities available for sale, Gross Unrealized Gains	2,533	1,681
Investment securities available for sale, Gross Unrealized Losses	(18)	(94)
Available for Sale, Fair Value, Total	67,913	81,633
Investment securities held to maturity, Cost Basis	8,119	9,466
Investment securities held to maturity, Gross Unrealized Gains	369	251
Investment securities held to maturity, Gross Unrealized Losses		(4)
Held to Maturity, Fair Value, Total	8,488	9,713
Municipal
Information concerning investments with unrealized gains and losses
Investment securities available for sale, Cost Basis	19,000	14,678
Investment securities available for sale, Gross Unrealized Gains	1,348	509
Investment securities available for sale, Gross Unrealized Losses		(17)
Available for Sale, Fair Value, Total	20,348	15,170
Investment securities held to maturity, Cost Basis	30,076	24,438
Investment securities held to maturity, Gross Unrealized Gains	2,455	941
Investment securities held to maturity, Gross Unrealized Losses	(49)	(53)
Held to Maturity, Fair Value, Total	32,482	25,326
Corporate bonds
Information concerning investments with unrealized gains and losses
Investment securities available for sale, Cost Basis	52,315	39,769
Investment securities available for sale, Gross Unrealized Gains	666	342
Investment securities available for sale, Gross Unrealized Losses	(229)	(281)
Available for Sale, Fair Value, Total	52,752	39,830
Corporate bonds and other securities
Information concerning investments with unrealized gains and losses
Investment securities held to maturity, Cost Basis	6,027	6,032
Investment securities held to maturity, Gross Unrealized Gains	113	58
Investment securities held to maturity, Gross Unrealized Losses	(4)	(47)
Held to Maturity, Fair Value, Total	$ 6,136	$ 6,043

INVESTMENT SECURITIES - Informa

INVESTMENT SECURITIES - Information concerning investments with unrealized losses (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Available-For-Sale-Securities-And-Held-To-Maturity-Securities
Less than 12 months, Fair Value	$ 19,477	$ 17,150
Less than 12 months, Unrealized Losses	(179)	(126)
12 months or longer, Fair Value	8,803	21,468
12 months or longer, Unrealized Losses	(121)	(370)
Total, Fair Value	28,280	38,618
Total, Unrealized Losses	(300)	(496)
U.S. Agency mortgage-backed securities
Available-For-Sale-Securities-And-Held-To-Maturity-Securities
Less than 12 months, Fair Value	6,394	7,084
Less than 12 months, Unrealized Losses	(17)	(23)
12 months or longer, Fair Value	123	8,562
12 months or longer, Unrealized Losses	(1)	(75)
Total, Fair Value	6,517	15,646
Total, Unrealized Losses	(18)	(98)
Municipal
Available-For-Sale-Securities-And-Held-To-Maturity-Securities
Less than 12 months, Fair Value		2,269
Less than 12 months, Unrealized Losses		(18)
12 months or longer, Fair Value	751	1,123
12 months or longer, Unrealized Losses	(49)	(52)
Total, Fair Value	751	3,392
Total, Unrealized Losses	(49)	(70)
Corporate bonds and other securities
Available-For-Sale-Securities-And-Held-To-Maturity-Securities
Less than 12 months, Fair Value	13,083	7,797
Less than 12 months, Unrealized Losses	(162)	(85)
12 months or longer, Fair Value	7,929	11,783
12 months or longer, Unrealized Losses	(71)	(243)
Total, Fair Value	21,012	19,580
Total, Unrealized Losses	$ (233)	$ (328)

INVESTMENT SECURITIES - Total i

INVESTMENT SECURITIES - Total investment securities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Contractual maturities of securities
Available for Sale, Cost Basis, Within 1 year	$ 5,057
Available for Sale, Cost Basis, After 1 year but within 5 years	24,555
Available for Sale, Cost Basis, After 5 years but within 10 years	50,084
Available for Sale, Cost Basis, After 10 years but within 15 years	16,131
Available for Sale, Cost Basis, Over 15 years	43,857
Available for Sale, Cost Basis, Total	$ 139,684	$ 139,577
Available for Sale, Within 1 year, Yield	2.58%
Available for Sale, After 1 year but within 5 years, Yield	2.76%
Available for Sale, After 5 year but within 10 years, Yield	3.62%
Available for Sale, After 10 years but within 15 years, Yield	2.75%
Available for Sale, Over 15 years, Yield	2.33%
Available for Sale, Yield, Total	2.93%
Available for Sale, Fair Value, Within 1 year	$ 5,088
Available for Sale, Fair Value, After 1 year but within 5 years	25,164
Available for Sale, Fair Value, After 5 years but within 10 years	51,668
Available for Sale, Fair Value, After 10 years but within 15 years	16,921
Available for Sale, Fair Value, Over 15 years	45,324
Available for Sale, Fair Value, Total	144,165	141,749
Held to Maturity, Cost Basis, Within 1 year	3,400
Held to Maturity, Cost Basis, After 1 year but within 5 years	8,175
Held to Maturity, Cost Basis, After 5 years but within 10 years	18,768
Held to Maturity, Cost Basis, After 10 years but within 15 years	8,231
Held to Maturity, Cost Basis, Over 15 years	5,648
Held to Maturity, Cost Basis, Total	44,222	39,936
Held to Maturity, Fair Value, Within 1 year	3,401
Held to Maturity, Fair Value, After 1 year but within 5 years	8,653
Held to Maturity, Fair Value, After 5 years but within 10 years	20,478
Held to Maturity, Fair Value, After 10 years but within 15 years	8,730
Held to Maturity, Fair Value, Over 15 years	5,844
Held to Maturity, Fair Value, Total	$ 47,106	41,082
Held to Maturity, Within 1 year, Yield	2.94%
Held to Maturity, After 1 year but within 5 years, Yield	3.28%
Held to Maturity, After 5 years but within 10 years, Yield	3.38%
Held to Maturity, After 10 years but within 15 years, Yield	3.12%
Held to Maturity, Over 15 years, Yield	2.09%
Held to Maturity, Yield, Total	3.11%
U.S. Agency
Contractual maturities of securities
Available for Sale, Cost Basis, After 5 years but within 10 years	$ 741
Available for Sale, Cost Basis, Over 15 years	2,230
Available for Sale, Cost Basis, Total	$ 2,971	5,084
Available for Sale, After 5 year but within 10 years, Yield	2.69%
Available for Sale, Over 15 years, Yield	2.68%
Available for Sale, Yield, Total	2.68%
Available for Sale, Fair Value, After 5 years but within 10 years	$ 780
Available for Sale, Fair Value, Over 15 years	2,372
Available for Sale, Fair Value, Total	3,152	5,116
Corporate Bonds And Other Securities
Contractual maturities of securities
Available for Sale, Cost Basis, Within 1 year	4,459
Available for Sale, Cost Basis, After 1 year but within 5 years	15,119
Available for Sale, Cost Basis, After 5 years but within 10 years	32,087
Available for Sale, Cost Basis, After 10 years but within 15 years	650
Available for Sale, Cost Basis, Total	$ 52,315
Available for Sale, Within 1 year, Yield	2.64%
Available for Sale, After 1 year but within 5 years, Yield	2.70%
Available for Sale, After 5 year but within 10 years, Yield	4.07%
Available for Sale, After 10 years but within 15 years, Yield	3.92%
Available for Sale, Yield, Total	3.55%
Available for Sale, Fair Value, Within 1 year	$ 4,487
Available for Sale, Fair Value, After 1 year but within 5 years	15,224
Available for Sale, Fair Value, After 5 years but within 10 years	32,389
Available for Sale, Fair Value, After 10 years but within 15 years	652
Available for Sale, Fair Value, Total	52,752
Held to Maturity, Cost Basis, Within 1 year	3,000
Held to Maturity, Cost Basis, After 1 year but within 5 years	3,027
Held to Maturity, Cost Basis, Total	6,027
Held to Maturity, Fair Value, Within 1 year	2,998
Held to Maturity, Fair Value, After 1 year but within 5 years	3,138
Held to Maturity, Fair Value, Total	$ 6,136
Held to Maturity, Within 1 year, Yield	2.95%
Held to Maturity, After 1 year but within 5 years, Yield	3.47%
Held to Maturity, Yield, Total	3.21%
U.S. Agency mortgage-backed securities
Contractual maturities of securities
Available for Sale, Cost Basis, After 1 year but within 5 years	$ 2,332
Available for Sale, Cost Basis, After 5 years but within 10 years	5,958
Available for Sale, Cost Basis, After 10 years but within 15 years	15,481
Available for Sale, Cost Basis, Over 15 years	41,627
Available for Sale, Cost Basis, Total	$ 65,398	80,046
Available for Sale, After 1 year but within 5 years, Yield	3.18%
Available for Sale, After 5 year but within 10 years, Yield	2.60%
Available for Sale, After 10 years but within 15 years, Yield	2.70%
Available for Sale, Over 15 years, Yield	2.31%
Available for Sale, Yield, Total	2.46%
Available for Sale, Fair Value, After 1 year but within 5 years	$ 2,457
Available for Sale, Fair Value, After 5 years but within 10 years	6,235
Available for Sale, Fair Value, After 10 years but within 15 years	16,269
Available for Sale, Fair Value, Over 15 years	42,952
Available for Sale, Fair Value, Total	67,913	81,633
Held to Maturity, Cost Basis, After 1 year but within 5 years	1,068
Held to Maturity, Cost Basis, After 10 years but within 15 years	1,718
Held to Maturity, Cost Basis, Over 15 years	5,333
Held to Maturity, Cost Basis, Total	8,119	9,466
Held to Maturity, Fair Value, After 1 year but within 5 years	1,132
Held to Maturity, Fair Value, After 10 years but within 15 years	1,856
Held to Maturity, Fair Value, Over 15 years	5,500
Held to Maturity, Fair Value, Total	$ 8,488	$ 9,713
Held to Maturity, After 1 year but within 5 years, Yield	2.83%
Held to Maturity, After 10 years but within 15 years, Yield	3.55%
Held to Maturity, Over 15 years, Yield	2.01%
Held to Maturity, Yield, Total	2.44%
Municipal
Contractual maturities of securities
Available for Sale, Cost Basis, Within 1 year	$ 598
Available for Sale, Cost Basis, After 1 year but within 5 years	7,104
Available for Sale, Cost Basis, After 5 years but within 10 years	11,298
Available for Sale, Cost Basis, Total	$ 19,000
Available for Sale, Within 1 year, Yield	2.14%
Available for Sale, After 1 year but within 5 years, Yield	2.76%
Available for Sale, After 5 year but within 10 years, Yield	3.01%
Available for Sale, Yield, Total	2.89%
Available for Sale, Fair Value, Within 1 year	$ 601
Available for Sale, Fair Value, After 1 year but within 5 years	7,483
Available for Sale, Fair Value, After 5 years but within 10 years	12,264
Available for Sale, Fair Value, Total	20,348
Held to Maturity, Cost Basis, Within 1 year	400
Held to Maturity, Cost Basis, After 1 year but within 5 years	4,080
Held to Maturity, Cost Basis, After 5 years but within 10 years	18,768
Held to Maturity, Cost Basis, After 10 years but within 15 years	6,513
Held to Maturity, Cost Basis, Over 15 years	315
Held to Maturity, Cost Basis, Total	30,076
Held to Maturity, Fair Value, Within 1 year	403
Held to Maturity, Fair Value, After 1 year but within 5 years	4,383
Held to Maturity, Fair Value, After 5 years but within 10 years	20,478
Held to Maturity, Fair Value, After 10 years but within 15 years	6,874
Held to Maturity, Fair Value, Over 15 years	344
Held to Maturity, Fair Value, Total	$ 32,482
Held to Maturity, Within 1 year, Yield	2.84%
Held to Maturity, After 1 year but within 5 years, Yield	3.25%
Held to Maturity, After 5 years but within 10 years, Yield	3.38%
Held to Maturity, After 10 years but within 15 years, Yield	3.01%
Held to Maturity, Over 15 years, Yield	3.50%
Held to Maturity, Yield, Total	3.28%

INVESTMENT SECURITIES - Additio

INVESTMENT SECURITIES - Additional information (Details)	12 Months Ended
	Dec. 31, 2020USD ($)position	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
INVESTMENT SECURITIES
Gross investment gains		$ 118,000	$ 15,000
Gross investment losses			454,000
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax		93,000	(347,000)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax		25,000	(92,000)
Investment Securities:
Premium percentage on mortgage backed securities purchased	101.20%
Consolidated investment securities portfolio modified, years	2 years 1 month 10 days
Proceeds from sales of investment securities — available for sale	$ 0	3,374,000	$ 9,466,000
Book value of securities available for sale and held to maturity	$ 111,694,000	117,076,000
Number of investment	0
Number of positions | position	41
Available-for-sale Securities, Equity Securities	$ 443,000	366,000
Realized gain on equity securities	2,000	13,000
Unrealized gain on equity securities	$ 3,000
Unrealized loss on equity securities		$ 5,000
U.S. Agency
Investment Securities:
Available For Sale Securities Debt Maturities Weighted Average Maturity Term	11 years 3 months 11 days
U.S. Agency mortgage-backed securities
Investment Securities:
Available For Sale Securities Debt Maturities Weighted Average Maturity Term	3 years 7 months 28 days
Weighted Average Expected Maturity For Held To Maturity Securities	4 years 6 months 7 days
Corporate bonds
Investment Securities:
Available For Sale Securities Debt Maturities Weighted Average Maturity Term	4 years 4 months 17 days
Weighted Average Expected Maturity For Held To Maturity Securities	2 years 4 months 24 days
Municipal
Investment Securities:
Available For Sale Securities Debt Maturities Weighted Average Maturity Term	4 years 11 months 27 days
Weighted Average Expected Maturity For Held To Maturity Securities	6 years 2 months 16 days
Standard & Poor's, AAA Rating [Member]
INVESTMENT SECURITIES
Portfolio rated	42.20%	53.40%
Securities rated below A [Member]
INVESTMENT SECURITIES
Portfolio rated	15.20%	9.10%
Deferred Compensation, Share-based Payments [Member] | Assets Held With Rabbi Trust [Member]
Investment Securities:
Available-for-sale Securities, Equity Securities	$ 443,000	$ 366,000

LOANS - Loan Portfolio (Details

LOANS - Loan Portfolio (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
LOANS
Loans, net of unearned income	$ 972,095	$ 882,706
Commercial and Industrial
LOANS
Loans, net of unearned income	151,162	173,922
Paycheck Protection Program (PPP)
LOANS
Loans, net of unearned income	58,344
Commercial loans secured by owner occupied real estate [Member]
LOANS
Loans, net of unearned income	95,486	91,655
Commercial loans secured by non-owner occupied real estate
LOANS
Loans, net of unearned income	400,751	363,635
Real estate-residential mortgage
LOANS
Loans, net of unearned income	249,989	235,239
Consumer
LOANS
Loans, net of unearned income	16,363	18,255
Commercial
LOANS
Loans, net of unearned income	705,743	629,212
Commercial | Commercial and Industrial
LOANS
Loans, net of unearned income	151,162	173,922
Commercial | Paycheck Protection Program (PPP)
LOANS
Loans, net of unearned income	58,344
Commercial | Commercial loans secured by owner occupied real estate [Member]
LOANS
Loans, net of unearned income	95,486	91,655
Commercial | Commercial loans secured by non-owner occupied real estate
LOANS
Loans, net of unearned income	400,751	363,635
Consumer | Real estate-residential mortgage
LOANS
Loans, net of unearned income	249,989	235,239
Consumer | Consumer
LOANS
Loans, net of unearned income	$ 16,363	$ 18,255

LOANS - Commercial real estate

LOANS - Commercial real estate loans (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
LOANS
Loans, net of unearned income	$ 972,095	$ 882,706
1-4 unit residential
LOANS
Loans, net of unearned income	7,694
Multifamily/apartments/student housing
LOANS
Loans, net of unearned income	67,348
Office
LOANS
Loans, net of unearned income	87,656
Retail
LOANS
Loans, net of unearned income	155,127
Industrial/manufacturing/warehouse
LOANS
Loans, net of unearned income	170,312
Hotels
LOANS
Loans, net of unearned income	42,945
Eating and drinking places
LOANS
Loans, net of unearned income	20,563
Amusement and recreation
LOANS
Loans, net of unearned income	3,581
Mixed use
LOANS
Loans, net of unearned income	67,996
Other
LOANS
Loans, net of unearned income	82,521
Commercial and Industrial
LOANS
Loans, net of unearned income	151,162	173,922
Commercial and Industrial | 1-4 unit residential
LOANS
Loans, net of unearned income	1,450
Commercial and Industrial | Office
LOANS
Loans, net of unearned income	33,525
Commercial and Industrial | Retail
LOANS
Loans, net of unearned income	8,080
Commercial and Industrial | Industrial/manufacturing/warehouse
LOANS
Loans, net of unearned income	87,021
Commercial and Industrial | Hotels
LOANS
Loans, net of unearned income	329
Commercial and Industrial | Eating and drinking places
LOANS
Loans, net of unearned income	769
Commercial and Industrial | Amusement and recreation
LOANS
Loans, net of unearned income	190
Commercial and Industrial | Other
LOANS
Loans, net of unearned income	19,798
Paycheck Protection Program (PPP)
LOANS
Loans, net of unearned income	58,344
Paycheck Protection Program (PPP) | Office
LOANS
Loans, net of unearned income	6,872
Paycheck Protection Program (PPP) | Retail
LOANS
Loans, net of unearned income	1,542
Paycheck Protection Program (PPP) | Industrial/manufacturing/warehouse
LOANS
Loans, net of unearned income	26,222
Paycheck Protection Program (PPP) | Hotels
LOANS
Loans, net of unearned income	837
Paycheck Protection Program (PPP) | Eating and drinking places
LOANS
Loans, net of unearned income	13,479
Paycheck Protection Program (PPP) | Amusement and recreation
LOANS
Loans, net of unearned income	46
Paycheck Protection Program (PPP) | Other
LOANS
Loans, net of unearned income	9,346
Commercial loans secured by owner occupied real estate [Member]
LOANS
Loans, net of unearned income	95,486	91,655
Commercial loans secured by owner occupied real estate [Member] | 1-4 unit residential
LOANS
Loans, net of unearned income	105
Commercial loans secured by owner occupied real estate [Member] | Multifamily/apartments/student housing
LOANS
Loans, net of unearned income	469
Commercial loans secured by owner occupied real estate [Member] | Office
LOANS
Loans, net of unearned income	10,095
Commercial loans secured by owner occupied real estate [Member] | Retail
LOANS
Loans, net of unearned income	21,180
Commercial loans secured by owner occupied real estate [Member] | Industrial/manufacturing/warehouse
LOANS
Loans, net of unearned income	18,255
Commercial loans secured by owner occupied real estate [Member] | Eating and drinking places
LOANS
Loans, net of unearned income	4,390
Commercial loans secured by owner occupied real estate [Member] | Amusement and recreation
LOANS
Loans, net of unearned income	3,307
Commercial loans secured by owner occupied real estate [Member] | Mixed use
LOANS
Loans, net of unearned income	2,411
Commercial loans secured by owner occupied real estate [Member] | Other
LOANS
Loans, net of unearned income	35,274
Commercial loans secured by non-owner occupied real estate
LOANS
Loans, net of unearned income	400,751	$ 363,635
Commercial loans secured by non-owner occupied real estate | 1-4 unit residential
LOANS
Loans, net of unearned income	6,139
Commercial loans secured by non-owner occupied real estate | Multifamily/apartments/student housing
LOANS
Loans, net of unearned income	66,879
Commercial loans secured by non-owner occupied real estate | Office
LOANS
Loans, net of unearned income	37,164
Commercial loans secured by non-owner occupied real estate | Retail
LOANS
Loans, net of unearned income	124,325
Commercial loans secured by non-owner occupied real estate | Industrial/manufacturing/warehouse
LOANS
Loans, net of unearned income	38,814
Commercial loans secured by non-owner occupied real estate | Hotels
LOANS
Loans, net of unearned income	41,779
Commercial loans secured by non-owner occupied real estate | Eating and drinking places
LOANS
Loans, net of unearned income	1,925
Commercial loans secured by non-owner occupied real estate | Amusement and recreation
LOANS
Loans, net of unearned income	38
Commercial loans secured by non-owner occupied real estate | Mixed use
LOANS
Loans, net of unearned income	65,585
Commercial loans secured by non-owner occupied real estate | Other
LOANS
Loans, net of unearned income	18,103
Commercial
LOANS
Loans, net of unearned income	$ 705,743

LOANS - Additional information

LOANS - Additional information (Details)	Mar. 27, 2020USD ($)item	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
LOANS
Real estate-construction loans, percentage		7.00%	4.90%
Loan balances net of unearned income		$ 1,202,000	$ 384,000
Unrecognized fee income from the PPP loan originations		755,000
Loans and Leases Receivable, Related Parties		$ 615,000	$ 544,000
Paycheck Protection Program (PPP)
LOANS
Number of times of average monthly payroll costs | item	2.5
Loan amount	$ 10,000,000
Interest rate	1.00%
Percentage of guarantee by SBA	100.00%
Percentage of loan proceeds used for payroll expenses	60.00%
Loans Receivable, Number Of Applications Received		364
Loans Receivable, Excess Of Loan Application Received		$ 58,300,000
Fee Income from Loans		1,900,000
Processing fee		$ 755,000
Paycheck Protection Program (PPP) | originated prior to June 5, 2020
LOANS
Loan term	2 years
Paycheck Protection Program (PPP) | originated after June 5, 2020
LOANS
Loan term	5 years

ALLOWANCE FOR LOAN LOSSES - Loa

ALLOWANCE FOR LOAN LOSSES - Loan losses by portfolio segment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at Beginning of Period	$ 9,279,000	$ 8,671,000	$ 10,214,000
Charge-Offs	(487,000)	(432,000)	(1,205,000)
Recoveries	178,000	240,000	262,000
Provision (Credit)	2,375,000	800,000	(600,000)
Balance at End of Period	11,345,000	9,279,000	8,671,000
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at Beginning of Period	3,951,000
Charge-Offs	(111,000)
Recoveries	4,000
Provision (Credit)	(372,000)
Balance at End of Period	3,472,000	3,951,000
Commercial loans secured by non-owner occupied real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at Beginning of Period	3,119,000
Charge-Offs	0
Recoveries	44,000
Provision (Credit)	2,210,000
Balance at End of Period	5,373,000	3,119,000
Real estate-residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at Beginning of Period	1,159,000
Charge-Offs	(233,000)
Recoveries	62,000
Provision (Credit)	304,000
Balance at End of Period	1,292,000	1,159,000
Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at Beginning of Period	126,000
Charge-Offs	(143,000)
Recoveries	68,000
Provision (Credit)	64,000
Balance at End of Period	115,000	126,000
Allocation for General Risk [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at Beginning of Period	924,000	863,000	1,020,000
Charge-Offs	0	0	0
Recoveries	0	0	0
Provision (Credit)	169,000	61,000	(157,000)
Balance at End of Period	1,093,000	924,000	863,000
Commercial | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at Beginning of Period	3,951,000	3,057,000	4,298,000
Charge-Offs		(9,000)	(574,000)
Recoveries		22,000	31,000
Provision (Credit)		881,000	(698,000)
Balance at End of Period	3,472,000	3,951,000	3,057,000
Commercial | Commercial loans secured by non-owner occupied real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at Beginning of Period	3,119,000	3,389,000	3,666,000
Charge-Offs		(63,000)	0
Recoveries		48,000	51,000
Provision (Credit)		(255,000)	(328,000)
Balance at End of Period	5,373,000	3,119,000	3,389,000
Consumer | Real estate-residential mortgage
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at Beginning of Period	1,159,000	1,235,000	1,102,000
Charge-Offs		(98,000)	(380,000)
Recoveries		118,000	119,000
Provision (Credit)		(96,000)	394,000
Balance at End of Period	1,292,000	1,159,000	1,235,000
Consumer | Consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Balance at Beginning of Period	126,000	127,000	128,000
Charge-Offs		(262,000)	(251,000)
Recoveries		52,000	61,000
Provision (Credit)		209,000	189,000
Balance at End of Period	$ 115,000	$ 126,000	$ 127,000

ALLOWANCE FOR LOAN LOSSES - L_2

ALLOWANCE FOR LOAN LOSSES - Loan loss by the primary segments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Loans:
Individually evaluated for impairment	$ 855	$ 824
Collectively evaluated for impairment	971,240	881,882
Total loans	972,095	882,706
Allowance for loan losses:
Specific reserve allocation	104	92
General reserve allocation	11,241	9,187
Total allowance for loan losses	11,345	9,279	$ 8,671	$ 10,214
Commercial
Loans:
Individually evaluated for impairment		816
Collectively evaluated for impairment		264,761
Total loans		265,577
Allowance for loan losses:
Total allowance for loan losses	3,472	3,951
Commercial loans secured by non-owner occupied real estate
Loans:
Individually evaluated for impairment		8
Collectively evaluated for impairment		363,627
Total loans	400,751	363,635
Allowance for loan losses:
Total allowance for loan losses	5,373	3,119
Real estate-residential mortgage
Loans:
Individually evaluated for impairment		0
Collectively evaluated for impairment		235,239
Total loans	249,989	235,239
Allowance for loan losses:
Total allowance for loan losses	1,292	1,159
Consumer
Loans:
Individually evaluated for impairment		0
Collectively evaluated for impairment		18,255
Total loans	16,363	18,255
Allowance for loan losses:
Total allowance for loan losses	115	126
Allocation for General Risk [Member]
Allowance for loan losses:
Specific reserve allocation	0	0
General reserve allocation	1,093	924
Total allowance for loan losses	1,093	924	863	1,020
Commercial
Loans:
Total loans	705,743	629,212
Commercial | Commercial
Loans:
Individually evaluated for impairment	847
Collectively evaluated for impairment	304,145
Total loans	304,992
Allowance for loan losses:
Specific reserve allocation	96	84
General reserve allocation	3,376	3,867
Total allowance for loan losses	3,472	3,951	3,057	4,298
Commercial | Commercial loans secured by non-owner occupied real estate
Loans:
Individually evaluated for impairment	8
Collectively evaluated for impairment	400,743
Total loans	400,751	363,635
Allowance for loan losses:
Specific reserve allocation	8	8
General reserve allocation	5,365	3,111
Total allowance for loan losses	5,373	3,119	3,389	3,666
Consumer | Real estate-residential mortgage
Loans:
Individually evaluated for impairment	0
Collectively evaluated for impairment	249,989
Total loans	249,989	235,239
Allowance for loan losses:
Specific reserve allocation	0	0
General reserve allocation	1,292	1,159
Total allowance for loan losses	1,292	1,159	1,235	1,102
Consumer | Consumer
Loans:
Individually evaluated for impairment	0
Collectively evaluated for impairment	16,363
Total loans	16,363	18,255
Allowance for loan losses:
Specific reserve allocation	0	0
General reserve allocation	115	126
Total allowance for loan losses	$ 115	$ 126	$ 127	$ 128

ALLOWANCE FOR LOAN LOSSES - Pre

ALLOWANCE FOR LOAN LOSSES - Present impaired loans by portfolio segment (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment	$ 855	$ 824
Related Allowance	8	8
Unpaid Principal Balance	880	846
Impaired Loans with Specific Allowance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment	855	824
Related Allowance	104	92
Impaired Loans With No Specific Allowance
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment	0	0
Commercial | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment	847	816
Unpaid Principal Balance	850	816
Commercial | Commercial loans secured by non-owner occupied real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment	8	8
Unpaid Principal Balance	30	30
Commercial | Impaired Loans with Specific Allowance | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment	847	816
Related Allowance	96	84
Commercial | Impaired Loans with Specific Allowance | Commercial loans secured by non-owner occupied real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment	8	8
Related Allowance	8	8
Commercial | Impaired Loans With No Specific Allowance | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment	0	0
Commercial | Impaired Loans With No Specific Allowance | Commercial loans secured by non-owner occupied real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Recorded Investment	$ 0	$ 0

ALLOWANCE FOR LOAN LOSSES - Inv

ALLOWANCE FOR LOAN LOSSES - Investment in impaired loans and related interest income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Average loan balance:
Average investment in impaired loans	$ 847	$ 607	$ 240
Interest income recognized:
Interest income recognized on a cash basis on impaired loans	38	30	0
Commercial | Commercial
Average loan balance:
Average investment in impaired loans	839	597	228
Interest income recognized:
Interest income recognized on a cash basis on impaired loans	38	30	0
Commercial | Commercial loans secured by non-owner occupied real estate
Average loan balance:
Average investment in impaired loans	8	10	12
Interest income recognized:
Interest income recognized on a cash basis on impaired loans	$ 0	$ 0	$ 0

ALLOWANCE FOR LOAN LOSSES - Com

ALLOWANCE FOR LOAN LOSSES - Commercial and commercial real estate loan portfolios (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	$ 972,095	$ 882,706
Paycheck Protection Program (PPP)
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	58,344
Commercial loans secured by owner occupied real estate [Member]
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	95,486	91,655
Commercial loans secured by non-owner occupied real estate
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	400,751	363,635
Commercial
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	705,743	629,212
Commercial | Commercial and Industrial Loan [Member]
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	151,162	173,922
Commercial | Paycheck Protection Program (PPP)
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	58,344
Commercial | Commercial loans secured by owner occupied real estate [Member]
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	95,486	91,655
Commercial | Commercial loans secured by non-owner occupied real estate
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	400,751	363,635
Commercial | Pass
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	656,534	612,116
Commercial | Pass | Commercial and Industrial Loan [Member]
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	134,186	161,147
Commercial | Pass | Paycheck Protection Program (PPP)
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	58,344
Commercial | Pass | Commercial loans secured by owner occupied real estate [Member]
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	92,189	88,942
Commercial | Pass | Commercial loans secured by non-owner occupied real estate
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	371,815	362,027
Commercial | Special Mention
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	39,856	2,237
Commercial | Special Mention | Commercial and Industrial Loan [Member]
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	13,722	853
Commercial | Special Mention | Commercial loans secured by owner occupied real estate [Member]
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	2,154	1,384
Commercial | Special Mention | Commercial loans secured by non-owner occupied real estate
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	23,980
Commercial | Substandard [Member]
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	9,345	14,851
Commercial | Substandard [Member] | Commercial and Industrial Loan [Member]
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	3,254	11,922
Commercial | Substandard [Member] | Commercial loans secured by owner occupied real estate [Member]
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	1,143	1,329
Commercial | Substandard [Member] | Commercial loans secured by non-owner occupied real estate
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	4,948	1,600
Commercial | Doubtful [Member]
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	8	8
Commercial | Doubtful [Member] | Commercial loans secured by non-owner occupied real estate
Loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system
Loan portfolio	$ 8	$ 8

ALLOWANCE FOR LOAN LOSSES - Res

ALLOWANCE FOR LOAN LOSSES - Residential and consumer portfolio (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Performing and non-performing outstanding balances of the residential and consumer portfolios
Loan portfolio	$ 972,095	$ 882,706
Real estate-residential mortgage
Performing and non-performing outstanding balances of the residential and consumer portfolios
Loan portfolio	249,989	235,239
Real estate-residential mortgage | Consumer
Performing and non-performing outstanding balances of the residential and consumer portfolios
Loan portfolio	249,989	235,239
Consumer
Performing and non-performing outstanding balances of the residential and consumer portfolios
Loan portfolio	16,363	18,255
Consumer | Consumer
Performing and non-performing outstanding balances of the residential and consumer portfolios
Loan portfolio	16,363	18,255
Residential and Consumer
Performing and non-performing outstanding balances of the residential and consumer portfolios
Loan portfolio	266,352	253,494
Performing [Member] | Real estate-residential mortgage | Consumer
Performing and non-performing outstanding balances of the residential and consumer portfolios
Loan portfolio	247,520	233,760
Performing [Member] | Consumer | Consumer
Performing and non-performing outstanding balances of the residential and consumer portfolios
Loan portfolio	16,356	18,255
Performing [Member] | Residential and Consumer
Performing and non-performing outstanding balances of the residential and consumer portfolios
Loan portfolio	263,876	252,015
Non-Performing [Member] | Real estate-residential mortgage | Consumer
Performing and non-performing outstanding balances of the residential and consumer portfolios
Loan portfolio	2,469	1,479
Non-Performing [Member] | Consumer | Consumer
Performing and non-performing outstanding balances of the residential and consumer portfolios
Loan portfolio	7	0
Non-Performing [Member] | Residential and Consumer
Performing and non-performing outstanding balances of the residential and consumer portfolios
Loan portfolio	$ 2,476	$ 1,479

ALLOWANCE FOR LOAN LOSSES - Cre

ALLOWANCE FOR LOAN LOSSES - Credit quality of the loan portfolio (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Current	$ 964,256	$ 878,307
Total Past Due	7,839	4,399
Total loans	972,095	882,706
90 Days Past Due and Still Accruing	0	0
30-59 Days Past Due [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total Past Due	1,624	2,490
60-89 Days Past Due [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total Past Due	4,452	887
90 Days Past Due [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total Past Due	1,763	1,022
Commercial and Industrial
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Current	148,023	173,922
Total Past Due	3,139	0
Total loans	151,162	173,922
90 Days Past Due and Still Accruing	0
Commercial and Industrial | 30-59 Days Past Due [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total Past Due	536	0
Commercial and Industrial | 60-89 Days Past Due [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total Past Due	2,603	0
Commercial and Industrial | 90 Days Past Due [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total Past Due	0	0
Paycheck Protection Program (PPP)
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Current	58,344
Total Past Due	0
Total loans	58,344
90 Days Past Due and Still Accruing	0
Paycheck Protection Program (PPP) | 30-59 Days Past Due [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total Past Due	0
Paycheck Protection Program (PPP) | 60-89 Days Past Due [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total Past Due	0
Paycheck Protection Program (PPP) | 90 Days Past Due [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total Past Due	0
Commercial loans secured by owner occupied real estate [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Current	95,486	91,538
Total Past Due	0	117
Total loans	95,486	91,655
90 Days Past Due and Still Accruing	0
Commercial loans secured by owner occupied real estate [Member] | 30-59 Days Past Due [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total Past Due	0	117
Commercial loans secured by owner occupied real estate [Member] | 60-89 Days Past Due [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total Past Due	0	0
Commercial loans secured by owner occupied real estate [Member] | 90 Days Past Due [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total Past Due	0	0
Commercial loans secured by non-owner occupied real estate
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Current	399,850	363,635
Total Past Due	901	0
Total loans	400,751	363,635
90 Days Past Due and Still Accruing	0
Commercial loans secured by non-owner occupied real estate | 30-59 Days Past Due [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total Past Due	230	0
Commercial loans secured by non-owner occupied real estate | 60-89 Days Past Due [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total Past Due	671	0
Commercial loans secured by non-owner occupied real estate | 90 Days Past Due [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total Past Due	0	0
Real estate-residential mortgage
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Current	246,279	231,022
Total Past Due	3,710	4,217
Total loans	249,989	235,239
90 Days Past Due and Still Accruing	0
Real estate-residential mortgage | 30-59 Days Past Due [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total Past Due	776	2,331
Real estate-residential mortgage | 60-89 Days Past Due [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total Past Due	1,178	864
Real estate-residential mortgage | 90 Days Past Due [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total Past Due	1,756	1,022
Consumer
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Current	16,274	18,190
Total Past Due	89	65
Total loans	16,363	18,255
90 Days Past Due and Still Accruing	0
Consumer | 30-59 Days Past Due [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total Past Due	82	42
Consumer | 60-89 Days Past Due [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total Past Due	0	23
Consumer | 90 Days Past Due [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total Past Due	7	0
Commercial
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total loans	705,743	629,212
Commercial | Commercial and Industrial
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total loans	151,162	173,922
Commercial | Paycheck Protection Program (PPP)
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total loans	58,344
Commercial | Commercial loans secured by owner occupied real estate [Member]
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total loans	95,486	91,655
Commercial | Commercial loans secured by non-owner occupied real estate
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total loans	400,751	363,635
Consumer | Real estate-residential mortgage
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total loans	249,989	235,239
Consumer | Consumer
Classes of the loan portfolio summarized by the aging categories of performing loans and nonaccrual loans
Total loans	$ 16,363	$ 18,255

ALLOWANCE FOR LOAN LOSSES - Add

ALLOWANCE FOR LOAN LOSSES - Additional information (Details) - USD ($)	3 Months Ended							12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision expense for loan losses	$ 1,075,000	$ 675,000	$ 450,000	$ 175,000	$ 975,000	$ 225,000	$ (400,000)	$ 2,375,000	$ 800,000	$ (600,000)
Reserve coverage of total loans, excluding PPP loans	1.23%							1.23%
provision recovery recorded								$ (2,375,000)	(800,000)	600,000
Financing Receivable, Individually Evaluated for Impairment	$ 855,000				$ 824,000			855,000	824,000
Debt Instrument Non Performing Assets								$ 3,300,000	$ 2,300,000
Percentage Of Allowance For Total Loans	1.16%				1.05%			1.16%	1.05%
Non-performing assets as a percent of loans	0.34%				0.26%			0.34%	0.26%
Financing Receivable, Allowance for Credit Losses, Period Increase (Decrease)					$ 675,000			$ 2,000,000	$ 1,400,000
Allowance for Loan and Lease Losses Write-offs, Net								$ 309,000	$ 192,000	$ 943,000
Allowance For Loan And Lease Losses Write Off Percentage								0.03%	0.02%	0.11%
Percentage Of Allowance For Non Performing Assets	341.00%				397.00%			341.00%	397.00%
Financing Receivable, Recorded Investment, Past Due	$ 7,839,000				$ 4,399,000			$ 7,839,000	$ 4,399,000
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
provision recovery recorded								372,000
Financing Receivable, Individually Evaluated for Impairment					816,000				816,000
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Recorded Investment, Past Due	3,139,000				$ 0			3,139,000	0
Pass
Accounts, Notes, Loans and Financing Receivable [Line Items]
Minimum individual loan balance requiring quarterly review	2,000,000							2,000,000
Special Mention
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable Threshold For Individually Evaluating Of Impairment	250,000							250,000
Substandard [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable Threshold For Individually Evaluating Of Impairment	250,000							250,000
Doubtful [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Minimum individual loan balance requiring quarterly review	100,000							$ 100,000
Minimum | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Minimum percent of portfolio to be reviewed								40.00%
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Minimum aggregate balances for commercial loan relationship under structure loan rating process	1,000,000							$ 1,000,000
Commercial | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
provision recovery recorded									(881,000)	$ 698,000
Financing Receivable, Individually Evaluated for Impairment	847,000							847,000
Minimum aggregate balances for commercial loan relationship under structure loan rating process	1,000,000							1,000,000
Commercial | Substandard [Member] | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Outstanding balance of commercial loan, downgraded									$ 6,500,000
Consumer | Minimum | Consumer and Residential Mortgage Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Individually Evaluated for Impairment	$ 150,000							$ 150,000

NON-PERFORMING ASSETS INCLUDI_3

NON-PERFORMING ASSETS INCLUDING TROUBLED DEBT RESTRUCTURINGS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Non-Performing assets including TDR
Non-accrual loans	$ 2,500	$ 1,487
Other real estate owned	0	37
TDR's not in non-accrual	831	815
Total non-performing assets including TDR	$ 3,331	$ 2,339
Total non-performing assets as a percent of loans, net of unearned income, and other real estate owned	0.34%	0.26%
90 Days Past Due and Still Accruing	$ 0	$ 0
Commercial and Industrial
Non-Performing assets including TDR
Non-accrual loans	16	0
TDR's not in non-accrual	831	815
90 Days Past Due and Still Accruing	0
Commercial loans secured by non-owner occupied real estate
Non-Performing assets including TDR
Non-accrual loans	8	8
90 Days Past Due and Still Accruing	0
Real estate-residential mortgage
Non-Performing assets including TDR
Non-accrual loans	2,469	1,479
Other real estate owned	0	37
90 Days Past Due and Still Accruing	0
Consumer
Non-Performing assets including TDR
Non-accrual loans	7	$ 0
90 Days Past Due and Still Accruing	$ 0

NON-PERFORMING ASSETS INCLUDI_4

NON-PERFORMING ASSETS INCLUDING TROUBLED DEBT RESTRUCTURINGS - Loans in accrual and non-accrual status (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)loan	Dec. 31, 2019USD ($)loan	Dec. 31, 2018loan
Schedule of TDRs
TDR subsequently default	0	0	0
Loans in accrual status [Member] | Commercial and Industrial
Schedule of TDRs
Number of loans	1	2
Current Balance | $	$ 47	$ 816
Concession Granted	Extension of maturity date with a below market interest rate	Extension of maturity date with a below market interest rate
Loans in accrual status [Member] | Commercial and Industrial | Subsequent modification of a TDR
Schedule of TDRs
Number of loans	1
Current Balance | $	$ 750
Concession Granted	Subsequent modification of a TDR - Extension of maturity date with a below market interest rate
Loans in non-accrual status [Member] | Commercial loans secured by non-owner occupied real estate
Schedule of TDRs
Number of loans		1
Current Balance | $		$ 8
Concession Granted		Extension of maturity date

NON-PERFORMING ASSETS INCLUDI_5

NON-PERFORMING ASSETS INCLUDING TROUBLED DEBT RESTRUCTURINGS - concentration of COVID-19 related modifications within the loan portfolio (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2020
Financing Receivable, Modifications [Line Items]
Loans For Which Payment Relief Has Been Requested	$ 144,361	$ 49,063
% of Outstanding Non-PPP Loans	16.40%	5.30%
CRE | Commercial
Financing Receivable, Modifications [Line Items]
Loans For Which Payment Relief Has Been Requested	$ 140,132	$ 47,037
% of Outstanding Non-PPP Loans	21.80%	7.00%
Home Equity | Consumer
Financing Receivable, Modifications [Line Items]
Loans For Which Payment Relief Has Been Requested	$ 160	$ 83
% of Outstanding Non-PPP Loans	0.20%	0.10%
Real estate-residential mortgage
Financing Receivable, Modifications [Line Items]
Loans For Which Payment Relief Has Been Requested	$ 4,069	$ 1,943
% of Outstanding Non-PPP Loans	2.90%	1.30%

NON-PERFORMING ASSETS INCLUDI_6

NON-PERFORMING ASSETS INCLUDING TROUBLED DEBT RESTRUCTURINGS - types of payment relief that have been granted (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2020USD ($)loan	Dec. 31, 2020USD ($)loan
Interest only payments
Financing Receivable, Modifications [Line Items]
Number of loans | loan	67	11
Payment relief that have been granted | $	$ 74,680	$ 26,900
Complete payment deferrals
Financing Receivable, Modifications [Line Items]
Number of loans | loan	127	59
Payment relief that have been granted | $	$ 69,681	$ 22,163
Maturity date extensions
Financing Receivable, Modifications [Line Items]
Number of loans | loan	194	70
Payment relief that have been granted | $	$ 144,361	$ 49,063

NON-PERFORMING ASSETS INCLUDI_7

NON-PERFORMING ASSETS INCLUDING TROUBLED DEBT RESTRUCTURINGS - Additional information (Details)	3 Months Ended	12 Months Ended
	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)loan	Dec. 31, 2019USD ($)
Aggregate of multiple consecutive maturity date extensions delay in payment, days		120 days
ALL reserve for TDR's		$ 103,000	$ 92,000
Percentage of decrease in balance of loan modifications		66.00%
Decrease in loan modifications to COVID-19	$ 144,000,000	$ 95,300,000
Accrued interest receivable due to loan modification		$ 1,200,000
Second payment deferral
Number of loans | loan		19
Payment relief that have been granted		$ 47,000,000
Residential Real Estate [Member]
Other Assets, Noncurrent		0	$ 37,000
Residential Mortgages [Member]
Mortgage Loans in Process of Foreclosure, Amount		$ 119,000

PREMISES AND EQUIPMENT (Details

PREMISES AND EQUIPMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
PREMISES AND EQUIPMENT
Cost	$ 38,944	$ 38,715
Less: Accumulated depreciation and amortization	24,608	24,072
Premises and equipment, net	14,336	14,643
Land [Member]
PREMISES AND EQUIPMENT
Cost	1,198	1,198
Premises [Member]
PREMISES AND EQUIPMENT
Cost	28,070	27,711
Furniture and equipment [Member]
PREMISES AND EQUIPMENT
Cost	8,502	8,632
Leasehold Improvements [Member]
PREMISES AND EQUIPMENT
Cost	$ 1,174	$ 1,174

PREMISES AND EQUIPMENT - Additi

PREMISES AND EQUIPMENT - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
PREMISES AND EQUIPMENT
Depreciation and amortization expense	$ 1,600,000	$ 1,500,000	$ 1,500,000
Director
PREMISES AND EQUIPMENT
Related Party Transaction, Amounts of Transaction	$ 232,000	$ 218,000	$ 221,000

LEASE COMMITMENTS - Lease Cost

LEASE COMMITMENTS - Lease Cost (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
LEASE COMMITMENTS
Amortization of right-of-use asset	$ 271,000	$ 258,000
Interest expense	112,000	117,000
Operating lease cost	116,000	117,000	$ 415,000
Total lease cost	$ 499,000	$ 492,000

LEASE COMMITMENTS - Leases outs

LEASE COMMITMENTS - Leases outstanding - (Details)	Dec. 31, 2020	Dec. 31, 2019
LEASE COMMITMENTS
Operating Lease, Weighted-average remaining term	11 years 4 months 24 days	11 years 10 months 24 days
Financing Lease, Weighted-average remaining term	16 years	17 years 1 month 6 days
Operating Lease, Weighted-average discount rate	3.49%	3.46%
Financing Lease, Weighted-average discount rate	3.52%	3.60%

LEASE COMMITMENTS - Operating a

LEASE COMMITMENTS - Operating and financing leases - (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
LEASE COMMITMENTS
Operating lease, Within 1 year	$ 120	$ 118
Operating lease, After 1 year but within 2 years	98	120
Operating lease, After 2 years but within 3 years	69	98
Operating lease, After 3 years but within 4 years	69	69
Operating lease, After 4 years but within 5 years	69	69
Operating lease, After 5 years	520	589
Total undiscounted cash flows	945	1,063
Discount on cash flows	(169)	(198)
Total lease liabilities	776	865
Financing lease, Within 1 year	316	296
Financing lease, After 1 year but within 2 years	320	275
Financing lease, After 2 years but within 3 years	309	277
Financing lease, After 3 years but within 4 years	249	274
Financing lease, After 4 years but within 5 years	248	236
Financing lease, After 5 years	2,760	3,007
Total undiscounted cash flows	4,202	4,365
Discount on cash flows	(1,093)	(1,202)
Total lease liabilities	$ 3,109	$ 3,163

LEASE COMMITMENTS - Additional

LEASE COMMITMENTS - Additional information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)ft²	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Property, Plant and Equipment [Line Items]
Net occupancy expense	$ 2,510	$ 2,497	$ 2,462
Director
Property, Plant and Equipment [Line Items]
Area of lease | ft²	1,049
Net occupancy expense	$ 13	$ 13	$ 13

DEPOSITS (Details)

DEPOSITS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Demand:
Non-interest bearing	$ 177,533	$ 136,462
Interest bearing	200,969	177,767
Savings	112,353	95,933
Money market	219,919	208,343
Certificates of deposit in denominations of $100,000 or more	48,931	38,770
Other time	295,215	303,238
Total deposits	$ 1,054,920	$ 960,513

DEPOSITS - Deposits and certifi

DEPOSITS - Deposits and certificates of deposit (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
OTHER TIME DEPOSITS
2021	$ 174,109
2022	63,046
2023	23,670
2024	15,146
2025	10,293
2026 and after	8,951
Total	295,215	$ 303,238
CERTIFICATES OF DEPOSIT OF $100,000 OR MORE
2021	45,646
2022	2,714
2023	400
2024	171
2025	0
2026 and after	0
Total	48,931	$ 38,770
TOTAL
2021	219,755
2022	65,760
2023	24,070
2024	15,317
2025	10,293
2026 and after	8,951
Total	$ 344,146

DEPOSITS - Additional informati

DEPOSITS - Additional information (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
DEPOSITS
Time Deposits	$ 344,146,000
Time deposits meet or exceed the FDIC insurance limit	81,700,000	$ 69,000,000
Related party deposits	$ 938,000	$ 1,875,000

SHORT-TERM BORROWINGS (Details)

SHORT-TERM BORROWINGS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SHORT-TERM BORROWINGS
Open Repo Plus	$ 24,702	$ 22,412
Federal Funds Purchased
SHORT-TERM BORROWINGS
Open Repo Plus	0	0	$ 0
Maximum balance at any month end	2,000	0	0
Average balance during year	$ 18	$ 58	$ 54
Average rate paid for the year	0.87%	3.04%	1.70%
Interest rate on year-end balance	0.00%	0.00%	0.00%
Short-Term Borrowings [Member]
SHORT-TERM BORROWINGS
Open Repo Plus	$ 24,702	$ 22,412	$ 41,029
Maximum balance at any month end	41,632	49,615	82,932
Average balance during year	$ 4,929	$ 11,030	$ 33,073
Average rate paid for the year	0.58%	2.59%	2.17%
Interest rate on year-end balance	0.41%	1.81%	2.62%

ADVANCES FROM FEDERAL HOME LO_3

ADVANCES FROM FEDERAL HOME LOAN BANK, GUARANTEED JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES AND SUBORDINATED DEBT (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
WEIGHTED AVERAGE YIELD
2021	1.00%	1.75%
2022	2.03%	2.28%
2023	1.59%	2.21%
2024	1.19%	2.48%
2025		1.86%
Total advances from FHLB	1.48%	2.08%
BALANCE
2021	$ 24,336	$ 18,729
2022	20,888	9,496
2023	15,568	17,838
2024	4,197	5,568
2025		2,037
Total advances from FHLB	$ 64,989	$ 53,668

ADVANCES FROM FEDERAL HOME LO_4

ADVANCES FROM FEDERAL HOME LOAN BANK, GUARANTEED JUNIOR SUBORDINATED DEFERRABLE INTEREST DEBENTURES AND SUBORDINATED DEBT - Additional information (Details) - USD ($) $ in Thousands	24 Months Ended
	Dec. 31, 2005	Dec. 31, 2020	Dec. 31, 2019	Jan. 27, 2016	Dec. 31, 2015	Dec. 29, 2015	Apr. 28, 1998
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds		$ 329,000
Available Unsecured Federal Funds		35,000
Junior Subordinated Notes		12,970	$ 12,955
Subordinated Debt		7,534	7,511
Guaranteed Junior Subordinated Deferrable Interest Debentures [Member]
Debt Instrument, Face Amount							$ 34,500
Debt Instrument, Interest Rate, Stated Percentage							8.45%
Early Repayment of Subordinated Debt	$ 22,500
Junior Subordinated Notes		13,000	$ 13,000
Federal Reserve Bank [Member]
Availability Of Short term Borrowings Federal Reserve		$ 31,000
Subordinated Debt [Member]
Debt Instrument, Face Amount						$ 7,650
Debt Instrument, Interest Rate, Stated Percentage					6.50%
Cash Redemption Of SBLF Preferred Stock				$ 21,000

DISCLOSURES ABOUT FAIR VALUE _4

DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS - Schedule of assets and liability measured and recorded on the Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Equity securities	$ 443	$ 366
Available for sale, at fair value	144,165	141,749
Fair value swap asset	3,320	959
Fair value swap liability	(3,320)	(959)
U.S. Agency
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Available for sale, at fair value	3,152	5,116
U.S. Agency mortgage-backed securities
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Available for sale, at fair value	67,913	81,633
Municipal
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Available for sale, at fair value	20,348	15,170
Corporate bonds
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Available for sale, at fair value	52,752	39,830
Level 1
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Equity securities	443	366
Fair value swap asset	0	0
Fair value swap liability	0	0
Level 1 | U.S. Agency
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Available for sale, at fair value	0	0
Level 1 | U.S. Agency mortgage-backed securities
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Available for sale, at fair value	0	0
Level 1 | Municipal
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Available for sale, at fair value	0	0
Level 1 | Corporate bonds
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Available for sale, at fair value	0	0
Level 2
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Fair value swap asset	3,320	959
Fair value swap liability	(3,320)	(959)
Level 2 | U.S. Agency
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Available for sale, at fair value	3,152	5,116
Level 2 | U.S. Agency mortgage-backed securities
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Available for sale, at fair value	67,913	81,633
Level 2 | Municipal
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Available for sale, at fair value	20,348	15,170
Level 2 | Corporate bonds
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Available for sale, at fair value	52,752	39,830
Level 3
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Equity securities	0	0
Fair value swap asset	0	0
Fair value swap liability	0	0
Level 3 | U.S. Agency
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Available for sale, at fair value	0	0
Level 3 | U.S. Agency mortgage-backed securities
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Available for sale, at fair value	0	0
Level 3 | Municipal
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Available for sale, at fair value	0	0
Level 3 | Corporate bonds
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Available for sale, at fair value	$ 0	$ 0

DISCLOSURES ABOUT FAIR VALUE _5

DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS - Schedule of assets measured and recorded at fair value on a non-recurring basis (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Impaired loan with carrying value	$ 266,000	$ 263,000
Specific valuation allowance	8,000	8,000
Impaired loans	258,000	255,000
Fair Value Measurements, Nonrecurring Basis
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Impaired loans	$ 258,000	255,000
Other real estate owned		$ 37,000
Fair Value Measurements, Nonrecurring Basis | Impaired loans
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Valuation Techniques	Appraisal of collateral	Appraisal of collateral
Fair Value Measurements, Nonrecurring Basis | Other real estate owned
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Valuation Techniques		Appraisal of collateral
Fair Value Measurements, Nonrecurring Basis | Minimum | Impaired loans
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Appraisal adjustments	0.00%	0.00%
Fair Value Measurements, Nonrecurring Basis | Minimum | Other real estate owned
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Appraisal adjustments		0.00%
Liquidation expenses		21.00%
Fair Value Measurements, Nonrecurring Basis | Maximum | Impaired loans
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Appraisal adjustments	100.00%	(100.00%)
Fair Value Measurements, Nonrecurring Basis | Maximum | Other real estate owned
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Appraisal adjustments		57.00%
Liquidation expenses		134.00%
Fair Value Measurements, Nonrecurring Basis | Wgtd Ave | Impaired loans
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Appraisal adjustments	3.00%	3.00%
Fair Value Measurements, Nonrecurring Basis | Wgtd Ave | Other real estate owned
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Appraisal adjustments		38.00%
Liquidation expenses		30.00%
Fair Value Measurements, Nonrecurring Basis | Level 1
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Impaired loans	$ 0	$ 0
Other real estate owned		0
Fair Value Measurements, Nonrecurring Basis | Level 2
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Impaired loans	0	0
Other real estate owned		0
Fair Value Measurements, Nonrecurring Basis | Level 3
DISCLOSURES ABOUT FAIR VALUE MEASUREMENTS
Impaired loans	$ 258,000	255,000
Other real estate owned		$ 37,000

DISCLOSURES ABOUT FAIR VALUE _6

DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS - Schedule of estimated fair value and recorded carrying value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
FINANCIAL ASSETS: Carrying Value
Investment securities - HTM, Carrying Value	$ 44,222	$ 39,936
Loans held for sale, Carrying Value	6,250	4,868
Loans, net of allowance for loan loss and unearned income, Carrying Value	960,750	873,427
Investment securities - HTM, Fair Value	47,106	41,082
Loans held for sale, Fair Value	6,428	4,970
Loans, net of allowance for loan loss and unearned income, Fair Value	969,433	873,908
FINANCIAL LIABILITIES: Carrying Value
Deposits with stated maturities, Carrying Value	311,064	309,044
All other borrowings, Carrying Value	85,493	74,134
Deposits with stated maturities, Fair Value	314,845	310,734
All other borrowings, Fair Value	$ 90,907	76,323
Assets and liabilities considered financial instruments, percentage	90.00%
Level 1
FINANCIAL ASSETS: Carrying Value
Investment securities - HTM, Fair Value	$ 0	0
Loans held for sale, Fair Value	6,428	4,970
Loans, net of allowance for loan loss and unearned income, Fair Value	0	0
FINANCIAL LIABILITIES: Carrying Value
Deposits with stated maturities, Fair Value	0	0
All other borrowings, Fair Value	0	0
Level 2
FINANCIAL ASSETS: Carrying Value
Investment securities - HTM, Fair Value	44,108	38,129
Loans held for sale, Fair Value	0	0
Loans, net of allowance for loan loss and unearned income, Fair Value	0	0
FINANCIAL LIABILITIES: Carrying Value
Deposits with stated maturities, Fair Value	0	0
All other borrowings, Fair Value	0	0
Level 3
FINANCIAL ASSETS: Carrying Value
Investment securities - HTM, Fair Value	2,998	2,953
Loans held for sale, Fair Value	0	0
Loans, net of allowance for loan loss and unearned income, Fair Value	969,433	873,908
FINANCIAL LIABILITIES: Carrying Value
Deposits with stated maturities, Fair Value	314,845	310,734
All other borrowings, Fair Value	$ 90,907	$ 76,323

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
INCOME TAXES
Current									$ (400)	$ 1,393	$ (988)
Deferred									1,614	179	2,665
Income tax expense	$ 248	$ 235	$ 365	$ 366	$ 169	$ 442	$ 470	$ 491	$ 1,214	$ 1,572	$ 1,677

INCOME TAXES - Reconciliation (

INCOME TAXES - Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
AMOUNT
Income tax expense based on federal statutory rate									$ 1,221	$ 1,596	$ 1,983
Tax exempt income									(188)	(131)	(131)
Other									181	107	(175)
Income tax expense	$ 248	$ 235	$ 365	$ 366	$ 169	$ 442	$ 470	$ 491	$ 1,214	$ 1,572	$ 1,677
RATE
Income tax expense based on federal statutory rate									21.00%	21.00%	21.00%
Tax exempt income									(3.20%)	(1.40%)	(1.40%)
Other									3.10%	1.10%	(1.80%)
Total expense for income taxes									20.90%	20.70%	17.80%

INCOME TAXES - Deferred tax ass

INCOME TAXES - Deferred tax assets and liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
DEFERRED TAX ASSETS:
Allowance for loan losses	$ 2,382	$ 1,949
Unfunded commitment reserve	183	215
Premises and equipment	686	1,129
Lease liabilities	816
Accrued pension obligation	0	1,093
Other	149	230
Total tax assets	4,216	4,616
DEFERRED TAX LIABILITIES:
Investment accretion	(88)	(82)
Unrealized investment security gains	(941)	(456)
Lease right-of-use assets	(780)
Accrued pension obligation	(646)
Other	(189)	(102)
Total tax liabilities	(2,644)	(640)
Deferred Tax Assets, Net, Total	$ 1,572	$ 3,976

INCOME TAXES - Change in net de

INCOME TAXES - Change in net deferred tax assets and liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
INCOME TAXES
Unrealized gains recognized in comprehensive income	$ (485)	$ (830)
Pension obligation of the defined benefit plan not yet recognized in income	(305)	1,348	$ 51
Deferred provision for income taxes	(1,614)	(179)	$ (2,665)
Net increase (decrease)	$ (2,404)	$ 339

INCOME TAXES - Additional infor

INCOME TAXES - Additional information (Details)	12 Months Ended
	Dec. 31, 2020
Tax Credit Carry forward Percentage	100.00%
Alternative Minimum Tax Credits [Member]
Tax Credit Carry forward Percentage	50.00%

EMPLOYEE BENEFIT PLANS - Change

EMPLOYEE BENEFIT PLANS - Changes in obligations and assets (Details) - Defined Benefit Pension Items - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
CHANGE IN BENEFIT OBLIGATION:
Benefit obligation at beginning of year	$ 49,561	$ 41,094
Service cost	1,676	1,470	$ 1,482
Interest cost	1,281	1,569	1,273
Actuarial loss	6,085	7,758
Benefits paid	(3,742)	(2,330)
Benefit obligation at end of year	54,861	49,561	41,094
CHANGE IN PLAN ASSETS:
Fair value of plan assets at beginning of year	44,831	38,478
Actual return on plan assets	8,358	5,483
Employer contributions	9,000	3,200
Benefits paid	(3,742)	(2,330)
Fair value of plan assets at end of year	58,447	44,831	$ 38,478
Funded status of the plan	$ 3,586	$ (4,730)

EMPLOYEE BENEFIT PLANS - Amount

EMPLOYEE BENEFIT PLANS - Amounts not recognized as components of net periodic pension cost (Details) - Defined Benefit Pension Items - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Amounts recognized in accumulated other comprehensive loss consists of:
Net actuarial loss	$ 20,628	$ 22,113
Total	$ 20,628	$ 22,113

EMPLOYEE BENEFIT PLANS - Accumu

EMPLOYEE BENEFIT PLANS - Accumulated benefit obligation (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Pension Items
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 50,435	$ 45,501

EMPLOYEE BENEFIT PLANS - Weight

EMPLOYEE BENEFIT PLANS - Weighted-average assumptions used to determine benefit obligations (Details)	Dec. 31, 2020	Dec. 31, 2019
WEIGHTED AVERAGE ASSUMPTIONS:
Discount rate	2.47%	3.20%
Salary scale	2.50%	2.50%

EMPLOYEE BENEFIT PLANS - Compon

EMPLOYEE BENEFIT PLANS - Component of net periodic benefit cost (Details) - Defined Benefit Pension Items - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Components of net periodic benefit cost
Service cost	$ 1,676	$ 1,470	$ 1,482
Interest cost	1,281	1,569	1,273
Expected return on plan assets	(3,241)	(3,025)	(2,798)
Special termination benefit liability			63
Recognized net actuarial loss	2,453	1,649	1,548
Net periodic pension cost	$ 2,169	$ 1,663	$ 1,568

EMPLOYEE BENEFIT PLANS - Chan_2

EMPLOYEE BENEFIT PLANS - Changes in plan assets and benefit obligations (Details) - Defined Benefit Pension Items - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
OTHER CHANGES IN PLAN ASSETS AND BENEFIT OBLIGATIONS RECOGNIZED IN OTHER COMPREHENSIVE LOSS
Net loss	$ 968	$ 5,300	$ 4,683
Recognized loss	(2,453)	(1,649)	(1,548)
Total recognized in other comprehensive loss before tax effect	(1,485)	3,651	3,135
Total recognized in net benefit cost and other comprehensive loss before tax effect	$ 684	$ 5,314	$ 4,703

EMPLOYEE BENEFIT PLANS - Weig_2

EMPLOYEE BENEFIT PLANS - Weighted-average assumptions used to determine net periodic benefit cost (Details) - Defined Benefit Pension Items	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
WEIGHTED AVERAGE ASSUMPTIONS:
Discount rate	3.20%	4.28%	3.63%
Expected return on plan assets	7.00%	7.50%	7.50%
Rate of compensation increase	2.50%	2.50%	2.50%

EMPLOYEE BENEFIT PLANS - Asset

EMPLOYEE BENEFIT PLANS - Asset allocation (Details) - Defined Benefit Pension Items	Dec. 31, 2020	Dec. 31, 2019
ASSET CATEGORY:
Asset allocations	100.00%	100.00%
Cash and Cash Equivalents [Member]
ASSET CATEGORY:
Asset allocations	1.00%	1.00%
Domestic equities [Member]
ASSET CATEGORY:
Asset allocations	11.00%	8.00%
Mutual funds/ETFs
ASSET CATEGORY:
Asset allocations	82.00%	82.00%
International equities
ASSET CATEGORY:
Asset allocations	0.00%	1.00%
Corporate bonds
ASSET CATEGORY:
Asset allocations	6.00%	8.00%

EMPLOYEE BENEFIT PLANS - Segreg

EMPLOYEE BENEFIT PLANS - Segregation of assets by the level of valuations inputs (Details) - Defined Benefit Pension Items - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan, Information about Plan Assets [Abstract]
Defined Benefit Plan, Plan Assets, Amount	$ 58,447	$ 44,831	$ 38,478
Cash and Cash Equivalents [Member] | Level 1
Defined Benefit Plan, Information about Plan Assets [Abstract]
Defined Benefit Plan, Plan Assets, Amount	725	186
Domestic equities [Member] | Level 1
Defined Benefit Plan, Information about Plan Assets [Abstract]
Defined Benefit Plan, Plan Assets, Amount	6,219	3,782
International equities | Level 1
Defined Benefit Plan, Information about Plan Assets [Abstract]
Defined Benefit Plan, Plan Assets, Amount	0	620
Mutual funds/ETFs | Level 1
Defined Benefit Plan, Information about Plan Assets [Abstract]
Defined Benefit Plan, Plan Assets, Amount	48,009	36,469
Corporate bonds | Level 2
Defined Benefit Plan, Information about Plan Assets [Abstract]
Defined Benefit Plan, Plan Assets, Amount	$ 3,494	$ 3,774

EMPLOYEE BENEFIT PLANS - Estima

EMPLOYEE BENEFIT PLANS - Estimated future benefit payments (Details) - Defined Benefit Pension Items $ in Thousands	Dec. 31, 2020USD ($)
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2021	$ 4,733
2022	4,864
2023	4,410
2024	4,557
2025	4,064
Years 2026-2030	$ 15,463

EMPLOYEE BENEFIT PLANS - Additi

EMPLOYEE BENEFIT PLANS - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Minimum number of annual hours	1,000
Maximum percent of plan assets comprised of AmeriServ Financial, Inc. common stock	10.00%
Defined contribution plan, employer matching contribution, percent of match	2.00%				6.00%
Non-elective contribution by employer for non union employees				4.00%	4.00%
Defined contribution plan maximum annual contribution per union employee percent	4.00%
Defined contribution plan, cost	$ 653,000	$ 604,000	$ 503,000
Defined Contribution Plan assets	$ 719,000
Maximum
Defined Benefit Plan Disclosure [Line Items]
Employer matching	1.00%				3.00%
Defined contribution plan, employer matching contribution, percent of match				4.00%
Other expense
Defined Benefit Plan Disclosure [Line Items]
Deferred compensation plan expense	$ 7,000	9,000
Other liabilities
Defined Benefit Plan Disclosure [Line Items]
Deferred compensation liability	$ 443,000	$ 366,000
Domestic equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, target allocation, percentage	60.00%
Domestic equities [Member] | Minimum
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, target allocation, percentage	50.00%
Domestic equities [Member] | Maximum
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, target allocation, percentage	60.00%
Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets of the company's common stock	$ 1,500,000
Debt Securities [Member] | Minimum
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, target allocation, percentage	40.00%
Debt Securities [Member] | Maximum
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, target allocation, percentage	50.00%
Defined Benefit Pension Items
Defined Benefit Plan Disclosure [Line Items]
Maximum percent of plan assets comprised of AmeriServ Financial, Inc. common stock	10.00%
Expected return on plan assets	7.00%	7.50%	7.50%
Defined benefit plan percent of assets comprised of entity common stock	2.60%
Defined Benefit Pension Items | Minimum
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, expected future employer contributions, next fiscal year	$ 6,000,000
401(k) PLAN | Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets of the company's common stock	$ 719,000

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Carrying value of commitment	$ 872,000	$ 1,025,000
Commitments to extend credit
Loss Contingencies [Line Items]
Amount of commitment	213,900,000	195,500,000
Standby letters of Credit
Loss Contingencies [Line Items]
Amount of commitment	13,300,000	14,700,000
Standby letters of credit	$ 8,500,000	$ 9,200,000
Standby letters of Credit | Maximum
Loss Contingencies [Line Items]
Term of commitment	5 years
Standby letters of Credit | Minimum
Loss Contingencies [Line Items]
Term of commitment	1 year

STOCK COMPENSATION PLANS (Detai

STOCK COMPENSATION PLANS (Details) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SHARES
Outstanding at beginning of year	296,648	336,313	360,721
Granted	0	7,000	5,000
Exercised	(38,235)	(40,917)	(24,408)
Forfeited	(27,500)	(5,748)	(5,000)
Outstanding at end of year	230,913	296,648	336,313
Exercisable at end of year	224,580	282,565	307,814
WEIGHTED AVERAGE EXERCISE PRICE
Outstanding at beginning of year	$ 3.02	$ 2.91	$ 2.85
Granted		4.19	4.22
Exercised	2.06	2.45	2.49
Forfeited	3.30	2.44	1.92
Outstanding at end of year	3.14	3.02	2.91
Exercisable at end of year	$ 3.11	2.96	2.86
Weighted average fair value of options granted in current year		$ 0.62	$ 0.56

STOCK COMPENSATION PLANS - Pric

STOCK COMPENSATION PLANS - Pricing model assumption ranges (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
STOCK COMPENSATION PLANS
Risk-free interest rate		2.65%	3.13%
Expected lives in years	0 years	10 years	10 years
Expected volatility		15.75%	15.59%
Expected dividend rate		1.91%	1.90%

STOCK COMPENSATION PLANS - Addi

STOCK COMPENSATION PLANS - Additional information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Stock based compensation	$ 3,000	$ 7,000	$ 14,000
Number of Shares Authorized	800,000
Purchase Price of Common Stock, Percent	100.00%
Expiration Period	10 years
Award Vesting Period	3 years
Options Outstanding	230,913	296,648	336,313	360,721
Grants in Period	0	7,000	5,000
Intrinsic Value	$ 56,000	$ 71,000	$ 42,000
Range One [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of Exercisable Options	224,580
Exercise Price Range, Lower Range Limit	$ 2.28
Exercise Price Range, Upper Range Limit	4.22
Weighted Average Exercise Price	$ 3.11
Weighted Average Remaining Contractual Term	3 years 4 months 17 days
Range Two [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of Exercisable Options	6,333
Exercise Price Range, Lower Range Limit	$ 4.19
Exercise Price Range, Upper Range Limit	4.22
Weighted Average Exercise Price	$ 4.20
Weighted Average Remaining Contractual Term	8 years 26 days

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (16,171)	$ (14,225)	$ (12,950)
Other comprehensive income (loss) before reclassifications	1,035	(3,156)	(2,845)
Amounts reclassified from accumulated other comprehensive loss	1,938	1,210	1,570
Net current period other comprehensive income (loss)	2,973	(1,946)	(1,275)
Ending balance	(13,198)	(16,171)	(14,225)
Net Unrealized Gains and (Losses) on Investment Securities AFS
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	1,715	(1,409)	(327)
Other comprehensive income (loss) before reclassifications	1,824	3,217	(1,429)
Amounts reclassified from accumulated other comprehensive loss		(93)	347
Net current period other comprehensive income (loss)	1,824	3,124	(1,082)
Ending balance	3,539	1,715	(1,409)
Defined Benefit Pension Items
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(17,886)	(12,816)	(12,623)
Other comprehensive income (loss) before reclassifications	(789)	(6,373)	(1,416)
Amounts reclassified from accumulated other comprehensive loss	1,938	1,303	1,223
Net current period other comprehensive income (loss)	1,149	(5,070)	(193)
Ending balance	$ (16,737)	$ (17,886)	$ (12,816)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE LOSS - Reclassification of component (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Realized (gains) losses on sale of securities
Net realized (gains) losses on investment securities		$ (118,000)	$ 439,000
Provision for income taxes		25,000	(92,000)
Net of tax		(93,000)	347,000
Amortization of estimated defined benefit pension plan loss
Other expense	$ (2,453,000)	(1,649,000)	(1,548,000)
Provision for income taxes	(515,000)	(346,000)	(325,000)
Net of tax	1,938,000	1,303,000	1,223,000
Total reclassifications for the period	$ 1,938,000	$ 1,210,000	$ 1,570,000

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Goodwill	$ 11,944	$ 11,944
West Chester Capital Advisors [Member]
Goodwill [Line Items]
Goodwill	2,400
Community banking
Goodwill [Line Items]
Goodwill	$ 9,500

DERIVATIVE HEDGING INSTRUMENT_2

DERIVATIVE HEDGING INSTRUMENTS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Derivative, Notional Amount	$ 0
Weighted Average Rate Received (Paid)	0.00%	0.00%
Increase (Decrease) in Interest Expense	$ 0	$ 0
Derivative Financial Instruments, Liabilities [Member] | Swap [Member]
Derivative, Swap Type	N/A	N/A
Derivative Liability, Notional Amount	$ (46,760)	$ (31,668)
Weighted Average Rate Received (Paid)	(2.91%)	(4.44%)
Repricing frequency	Monthly	Monthly
Increase (Decrease) in Interest Expense	$ 523,000	$ 18,000
Derivative Financial Instruments, Assets [Member] | Swap [Member]
Derivative, Swap Type	N/A	N/A
Derivative Asset, Notional Amount	$ 46,760	$ 31,668
Weighted Average Rate Received (Paid)	2.91%	4.44%
Repricing frequency	Monthly	Monthly
Increase (Decrease) in Interest Expense	$ (523,000)	$ (18,000)

DERIVATIVE HEDGING INSTRUMENT_3

DERIVATIVE HEDGING INSTRUMENTS - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
DERIVATIVE HEDGING INSTRUMENTS
Proceeds from Fees Received	$ 196,000	$ 120,000
Derivative Notional Amount Outstanding	$ 500,000,000	$ 500,000,000

SEGMENT RESULTS (Details)

SEGMENT RESULTS (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Contribution of segments to the consolidated results of operations
Net interest income (expense)	$ 9,352,000	$ 8,791,000	$ 9,473,000	$ 8,751,000	$ 8,960,000	$ 8,764,000	$ 9,061,000	$ 8,657,000	$ 36,367,000	$ 35,442,000	$ 35,494,000
Provision (credit) for loan losses	1,075,000	675,000	450,000	175,000	975,000	225,000		(400,000)	2,375,000	800,000	(600,000)
Non-interest income	4,372,000	4,304,000	3,767,000	3,832,000	3,416,000	4,095,000	3,657,000	3,605,000	16,275,000	14,773,000	14,224,000
Non-interest expense	11,709,000	11,107,000	11,006,000	10,633,000	10,563,000	10,503,000	10,456,000	10,293,000	44,455,000	41,815,000	40,873,000
Income (loss) before income taxes	940,000	1,313,000	1,784,000	1,775,000	838,000	2,131,000	2,262,000	2,369,000	5,812,000	7,600,000	9,445,000
Income tax expense (benefit)	248,000	235,000	365,000	366,000	169,000	442,000	470,000	491,000	1,214,000	1,572,000	1,677,000
Net income (loss)	692,000	$ 1,078,000	$ 1,419,000	$ 1,409,000	669,000	$ 1,689,000	$ 1,792,000	$ 1,878,000	4,598,000	6,028,000	7,768,000
Assets	1,279,713,000				1,171,184,000				1,279,713,000	1,171,184,000	1,160,680,000
Community banking
Contribution of segments to the consolidated results of operations
Net interest income (expense)									42,862,000	40,865,000	39,195,000
Provision (credit) for loan losses									2,375,000	800,000	(600,000)
Non-interest income									6,022,000	5,407,000	4,832,000
Non-interest expense									34,136,000	31,856,000	30,809,000
Income (loss) before income taxes									12,373,000	13,616,000	13,818,000
Income tax expense (benefit)									2,303,000	2,715,000	2,764,000
Net income (loss)									10,070,000	10,901,000	11,054,000
Assets	1,083,819,000				981,787,000				1,083,819,000	981,787,000	966,910,000
Wealth management
Contribution of segments to the consolidated results of operations
Net interest income (expense)									55,000	81,000	71,000
Provision (credit) for loan losses									0	0	0
Non-interest income									10,212,000	9,736,000	9,651,000
Non-interest expense									7,683,000	7,340,000	7,319,000
Income (loss) before income taxes									2,584,000	2,477,000	2,403,000
Income tax expense (benefit)									598,000	593,000	554,000
Net income (loss)									1,986,000	1,884,000	1,849,000
Assets	10,285,000				10,361,000				10,285,000	10,361,000	9,345,000
Investment/Parent
Contribution of segments to the consolidated results of operations
Net interest income (expense)									(6,550,000)	(5,504,000)	(3,772,000)
Provision (credit) for loan losses									0	0	0
Non-interest income									41,000	(370,000)	(259,000)
Non-interest expense									2,636,000	2,619,000	2,745,000
Income (loss) before income taxes									(9,145,000)	(8,493,000)	(6,776,000)
Income tax expense (benefit)									(1,687,000)	(1,736,000)	(1,641,000)
Net income (loss)									(7,458,000)	(6,757,000)	(5,135,000)
Assets	$ 185,609,000				$ 179,036,000				$ 185,609,000	$ 179,036,000	$ 184,425,000

REGULATORY CAPITAL (Details)

REGULATORY CAPITAL (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Summarized regulatory capital ratio of company
Total Capital (To RWA), Actual Amount	$ 125,182	$ 119,477
Tier 1 Common Equity (To RWA), Actual Amount	112,965	109,173
Tier 1 Capital (To RWA), Actual Amount	112,965	109,173
Tier 1 Capital (To Average Assets), Actual Amount	$ 112,965	$ 109,173
Total Capital (To RWA), Actual Ratio	11.95	12.23
Tier 1 Common Equity (To RWA), Actual Ratio	10.78	11.17
Tier 1 Capital (To RWA), Actual Ratio	10.78	11.17
Tier 1 Capital (To Average Assets), Actual Ratio	9.03	9.50
Total Capital (To RWA), Minimum Required For Capital Adequacy Purpose	8	8
Tier 1 Common Equity (To RWA), Minimum Required For Capital Adequacy Purpose	4.50%	4.50%
Tier 1 Capital (To RWA), Minimum Required For Capital Adequacy Purpose	6	6
Tier 1 Capital (To Average Assets), Minimum Required For Capital Adequacy Purpose	4	4
Total Capital (To RWA), To Be Will Capitalized Under Prompt Corrective Action Regulations	10	10
Tier 1 Common Equity (To RWA), To Be Will Capitalized Under Prompt Corrective Action Regulations	6.50%	6.50%
Tier 1 Capital (To RWA), To Be Well Capitalized Under Prompt Corrective Action Regulations	8	8
Tier 1 Capital (To Average Assets), To Be Will Capitalized Under Prompt Corrective Action Regulations	5	5
Parent Company [Member]
Summarized regulatory capital ratio of company
Total Capital (To RWA), Actual Amount	$ 135,777	$ 132,544
Tier 1 Common Equity (To RWA), Actual Amount	105,653	102,841
Tier 1 Capital (To RWA), Actual Amount	117,556	114,729
Tier 1 Capital (To Average Assets), Actual Amount	$ 117,556	$ 114,729
Total Capital (To RWA), Actual Ratio	12.93	13.49
Tier 1 Common Equity (To RWA), Actual Ratio	10.06	10.47
Tier 1 Capital (To RWA), Actual Ratio	11.20	11.68
Tier 1 Capital (To Average Assets), Actual Ratio	9.29	9.87

REGULATORY CAPITAL - Additional

REGULATORY CAPITAL - Additional Information (Details)	Dec. 31, 2020	Dec. 31, 2019
REGULATORY CAPITAL
Tangible Capital to Tangible Assets	7.29	7.48

PARENT COMPANY FINANCIAL INFO_3

PARENT COMPANY FINANCIAL INFORMATION - BALANCE SHEETS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
ASSETS
Cash	$ 20,427	$ 15,642
Short-term investments	8,492	3,771
Cash and cash equivalents	31,504	22,168
Investment securities available for sale	144,165	141,749
Other assets	10,209	6,074
TOTAL ASSETS	1,279,713	1,171,184	$ 1,160,680
LIABILITIES
Guaranteed junior subordinated deferrable interest debentures, net	12,970	12,955
Subordinated debt	7,534	7,511
Other liabilities	6,314	11,483
TOTAL LIABILITIES	1,175,314	1,072,570
STOCKHOLDERS' EQUITY
Total stockholders' equity	104,399	98,614	$ 97,977
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	1,279,713	1,171,184
Parent Company [Member]
ASSETS
Cash	100	100
Short-term investments	1,998	2,544
Cash and cash equivalents	2,098	2,644
Investment securities available for sale	3,789	3,758
Other assets	1,289	978
TOTAL ASSETS	126,016	120,053
LIABILITIES
Guaranteed junior subordinated deferrable interest debentures, net	12,970	12,955
Subordinated debt	7,534	7,511
Other liabilities	1,113	973
TOTAL LIABILITIES	21,617	21,439
STOCKHOLDERS' EQUITY
Total stockholders' equity	104,399	98,614
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	126,016	120,053
Parent Company [Member] | Banking Subsidiary [Member]
ASSETS
Equity investment	111,513	104,843
Parent Company [Member] | Non Banking Subsidiaries [Member]
ASSETS
Equity investment	$ 7,327	$ 7,830

PARENT COMPANY FINANCIAL INFO_4

PARENT COMPANY FINANCIAL INFORMATION - STATEMENTS OF OPERATIONS (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
INCOME
Interest, dividend and other income	$ 11,640	$ 11,237	$ 12,061	$ 11,944	$ 12,405	$ 12,433	$ 12,765	$ 12,164	$ 46,882	$ 49,767	$ 47,094
EXPENSE
Interest expense	2,288	2,446	2,588	3,193	3,445	3,669	3,704	3,507	10,515	14,325	11,600
Salaries and employee benefits									27,390	25,429	24,358
Other expense									5,439	5,654	5,257
INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED EARNINGS OF SUBSIDIARIES	940	1,313	1,784	1,775	838	2,131	2,262	2,369	5,812	7,600	9,445
Benefit for income taxes	248	235	365	366	169	442	470	491	1,214	1,572	1,677
NET INCOME	$ 692	$ 1,078	$ 1,419	$ 1,409	$ 669	$ 1,689	$ 1,792	$ 1,878	4,598	6,028	7,768
COMPREHENSIVE INCOME									7,571	4,082	6,493
Parent Company [Member]
INCOME
Inter-entity management and other fees									2,708	2,556	2,430
Interest, dividend and other income									106	186	119
TOTAL INCOME									6,758	7,647	7,239
EXPENSE
Interest expense									1,642	1,642	1,642
Salaries and employee benefits									2,667	2,614	2,610
Other expense									1,749	1,707	1,733
TOTAL EXPENSE									6,058	5,963	5,985
INCOME BEFORE INCOME TAXES AND EQUITY IN UNDISTRIBUTED EARNINGS OF SUBSIDIARIES									700	1,684	1,254
Benefit for income taxes									(681)	(676)	(722)
Equity in undistributed earnings of subsidiaries									3,217	3,668	5,792
NET INCOME									4,598	6,028	7,768
COMPREHENSIVE INCOME									7,571	4,082	6,493
Parent Company [Member] | Banking Subsidiary [Member]
INCOME
Dividends from subsidiaries									2,000	3,800	3,500
Parent Company [Member] | Non Banking Subsidiaries [Member]
INCOME
Dividends from subsidiaries									$ 1,944	$ 1,105	$ 1,190

PARENT COMPANY FINANCIAL INFO_5

PARENT COMPANY FINANCIAL INFORMATION - STATEMENTS OF CASH FLOWS (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
OPERATING ACTIVITIES
Net income	$ 692	$ 1,078	$ 1,419	$ 1,409	$ 669	$ 1,689	$ 1,792	$ 1,878	$ 4,598	$ 6,028	$ 7,768
Adjustments to reconcile net income to net cash provided by operating activities:
Stock compensation expense									3	7	14
Other - net									(7,140)	(493)	(6,188)
INVESTING ACTIVITIES
Purchase of investment securities — available for sale									(36,519)	(18,084)	(45,427)
Proceeds from maturity and sales of investment securities – available for sale									36,215	23,559	16,299
FINANCING ACTIVITIES
Common stock dividends paid									(1,716)	(1,642)	(1,347)
NET DECREASE IN CASH AND CASH EQUIVALENTS									9,336	(12,726)	706
CASH AND CASH EQUIVALENTS AT JANUARY 1				22,168				34,894	22,168	34,894	34,188
CASH AND CASH EQUIVALENTS AT DECEMBER 31	31,504				22,168				31,504	22,168	34,894
Parent Company [Member]
OPERATING ACTIVITIES
Net income									4,598	6,028	7,768
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries									(3,217)	(3,668)	(5,792)
Stock compensation expense									3	7	14
Other - net									(55)	(427)	433
NET CASH PROVIDED BY OPERATING ACTIVITIES									1,329	1,940	2,423
INVESTING ACTIVITIES
Purchase of investment securities — available for sale									(1,254)		(1,002)
Proceeds from maturity and sales of investment securities – available for sale									1,246	1,085	1,462
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES									(8)	1,085	460
FINANCING ACTIVITIES
Purchases of treasury stock									(151)	(2,550)	(2,346)
Common stock dividends paid									(1,716)	(1,642)	(1,347)
NET CASH USED IN FINANCING ACTIVITIES									(1,867)	(4,192)	(3,693)
NET DECREASE IN CASH AND CASH EQUIVALENTS									(546)	(1,167)	(810)
CASH AND CASH EQUIVALENTS AT JANUARY 1				$ 2,644				$ 3,811	2,644	3,811	4,621
CASH AND CASH EQUIVALENTS AT DECEMBER 31	$ 2,098				$ 2,644				$ 2,098	$ 2,644	$ 3,811

PARENT COMPANY FINANCIAL INFO_6

PARENT COMPANY FINANCIAL INFORMATION - Additional information (Details)	Dec. 31, 2020USD ($)
PARENT COMPANY FINANCIAL INFORMATION
Dividend Payments Restrictions Schedule, Statutory Capital and Surplus	$ 109,715,000

SELECTED QUARTERLY CONSOLIDAT_3

SELECTED QUARTERLY CONSOLIDATED FINANCIAL DATA (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
SELECTED QUARTERLY CONSOLIDATED FINANCIAL DATA
Interest income	$ 11,640,000	$ 11,237,000	$ 12,061,000	$ 11,944,000	$ 12,405,000	$ 12,433,000	$ 12,765,000	$ 12,164,000	$ 46,882,000	$ 49,767,000	$ 47,094,000
Interest expense	2,288,000	2,446,000	2,588,000	3,193,000	3,445,000	3,669,000	3,704,000	3,507,000	10,515,000	14,325,000	11,600,000
Net interest income	9,352,000	8,791,000	9,473,000	8,751,000	8,960,000	8,764,000	9,061,000	8,657,000	36,367,000	35,442,000	35,494,000
Provision (credit) for loan losses	1,075,000	675,000	450,000	175,000	975,000	225,000		(400,000)	2,375,000	800,000	(600,000)
Net interest income after provision (credit) for loan losses	8,277,000	8,116,000	9,023,000	8,576,000	7,985,000	8,539,000	9,061,000	9,057,000	33,992,000	34,642,000	36,094,000
Non-interest income	4,372,000	4,304,000	3,767,000	3,832,000	3,416,000	4,095,000	3,657,000	3,605,000	16,275,000	14,773,000	14,224,000
Non-interest expense	11,709,000	11,107,000	11,006,000	10,633,000	10,563,000	10,503,000	10,456,000	10,293,000	44,455,000	41,815,000	40,873,000
Income before income taxes	940,000	1,313,000	1,784,000	1,775,000	838,000	2,131,000	2,262,000	2,369,000	5,812,000	7,600,000	9,445,000
Provision for income taxes	248,000	235,000	365,000	366,000	169,000	442,000	470,000	491,000	1,214,000	1,572,000	1,677,000
Net income	$ 692,000	$ 1,078,000	$ 1,419,000	$ 1,409,000	$ 669,000	$ 1,689,000	$ 1,792,000	$ 1,878,000	$ 4,598,000	$ 6,028,000	$ 7,768,000
Basic earnings per common share	$ 0.04	$ 0.06	$ 0.08	$ 0.08	$ 0.04	$ 0.10	$ 0.10	$ 0.11	$ 0.27	$ 0.35	$ 0.43
Diluted earnings per common share	0.04	0.06	0.08	0.08	0.04	0.10	0.10	0.11	0.27	0.35	0.43
Cash dividends declared per common share	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.020	$ 0.100	$ 0.095	$ 0.075

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ in Thousands	Feb. 28, 2021USD ($)loan	Jan. 15, 2021USD ($)item	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Subsequent Event [Line Items]
Total deposits			$ 1,054,920	$ 960,513
Total loans			$ 972,095	$ 882,706
Subsequent event | Paycheck Protection Program (PPP) | New Round of Paycheck Protection Program
Subsequent Event [Line Items]
Number of total loans | loan	141
Total loans	$ 24,200
Subsequent event | AmeriServ Financial Bank
Subsequent Event [Line Items]
The percentage of dilution of tangible book value		2.00%
Subsequent event | AmeriServ Financial Bank | Somerset Country
Subsequent Event [Line Items]
Total deposits		$ 150,000
Number of branches located | item		4
Subsequent event | AmeriServ Financial Bank | Branch and Deposit Customers of Citizen’s Neighborhood Bank Branch
Subsequent Event [Line Items]
Total deposits		$ 48,000
Deposits premium		3.71%