FAIR VALUE (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The table below presents the balances of assets and liabilities measured at fair value on a recurring basis.

Financial Assets	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Available for Sale Securities
As of September 30, 2024
Residential mortgage-backed securities	$	—	$	6,041	$	—	$	6,041
Total	$	—	$	6,041	$	—	$	6,041
As of December 31, 2023
Residential mortgage-backed securities	$	—	$	7,095	$	—	$	7,095
Total	$	—	$	7,095	$	—	$	7,095

Schedule of Fair Value on a Non-recurring Basis

Certain assets and liabilities are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances (for example, when there is evidence of impairment).

Financial Assets	Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
As of September 30, 2024
Collateral-dependent loans	$	—	$	—	$	1,464	$	1,464
OREO	—		—		1,562		1,562
As of December 31, 2023
Collateral-dependent loans	$	—	$	—	$	1,655	$	1,655
OREO	—		—		1,550		1,550

Schedule of Carrying Value and Fair Value of Financial Instruments

The following table summarizes the carrying amounts and fair values for financial instruments that are not carried at fair value at September 30, 2024 and December 31, 2023:

September 30, 2024	Carrying Amount		Fair Value
			Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Financial Assets:
Investment securities HTM	$	9,228	$	7,872	$	—	$	7,872	$	—
Loans, net	1,807,611		1,806,453		—		1,794,230		12,223
Financial Liabilities:
Time deposits	$	676,909	$	680,001	$	—	$	680,001	$	—
Borrowings	188,253		192,679		—		192,679		—

December 31, 2023	Carrying Amount		Fair Value
			Total		Level 1		Level 2		Level 3
	(Dollars in thousands)
Financial Assets:
Investment securities HTM	$	9,292	$	7,892	$	—	$	7,892	$	—
Loans, net	1,755,209		1,727,842		—		1,718,866		8,976
Financial Liabilities:
Time deposits	$	607,070	$	605,216	$	—	$	605,216	$	—
Borrowings	168,111		172,985		—		172,985		—