BUSINESS COMBINATION (Tables)

6 Months Ended

Jun. 30, 2022

Business Combination [Abstract]

Schedule of Business Acquisitions

	Original		Adjustments		Final
(dollars in thousands)	Estimates		to Estimates		Valuation
Consideration paid:
Cash	$	7,000	$	—	$	7,000
Value of consideration	$	7,000	$	—	$	7,000
Assets acquired:
Cash and due from banks	$	2,446	$	—	$	2,446
Mortgage loans held for sale		20,452		—		20,452
Premises and equipment, net		124		—		124
Leases right-of-use asset		42		—		42
Derivative assets		1,199		—		1,199
Deferred tax asset, net		26		—		26
Other assets		93		—		93
Total assets		24,382		—		24,382
Liabilities assumed:
Short term borrowings		19,254		—		19,254
Leases liability		42		—		42
Derivative liabilities		221		—		221
Other liabilities		655		—		655
Total liabilities		20,172		—		20,172
Net identifiable assets acquired	$	4,210	$	—	$	4,210
Goodwill resulting from acquisition (1)					$	2,790

(1) Intangibles are subject to certain post-closing adjustments.

Schedule of unaudited pro forma

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
(dollars in thousands)	2022		2021		2022		2021
Total revenues	$	33,721	$	30,892	$	64,531	$	65,959
Net income	$	5,198	$	10,178	$	9,648	$	19,963

Included in the Company’s consolidated statements of income for the three and six months ended June 30, 2022 are $0.7 million of revenue and $0.1 million of net loss related to Primis Mortgage since its acquisition on June 1, 2022.