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FAIR VALUE OF ASSETS AND LIABILITIES (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis Information related to the Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2023 and 2022 is as follows:
Assets Measured at Fair Value on a Recurring Basis (Continued)
Fair Value Measurements At Reporting Date Using:

Fair ValueQuoted Prices
In Active
Markets For
Identical Assets
(Level 1)		Significant
Other
Observable
Inputs (Level 2)		Significant
Unobservable
Inputs (Level 3)
December 31, 2023
U.S. Treasury securities$8,772 $— $8,772 $— 
U.S. Government Sponsored Enterprises (GSEs)
2,268 — 2,268 — 
State and municipal securities41,069 — 41,069 — 
Corporate debt securities11,259 — 11,259 — 
Asset based securities18,687 — 18,687 — 
Mortgage-backed GSE residential/multifamily and non-GSE96,945 — 96,945 — 
Other equity securities3,649 3,649 — — 
Interest Rate Products - asset7,691 — 7,691 — 
Interest Rate Products - liabilities(7,726)— (7,726)— 
December 31, 2022
U.S. Treasury securities$8,584 $— $8,584 $— 
U.S. Government Sponsored Enterprises (GSEs)
1,788 — 1,788 — 
State and municipal securities49,925 — 49,925 — 
Corporate debt securities11,627 — 11,627 — 
Asset based securities13,337 — 13,337 — 
Mortgage-backed GSE residential/multifamily and non-GSE70,283 — 70,283 — 
Other equity securities4,444 3,674 — 770 
Interest Rate Products - asset8,870 — 8,870 — 
Interest Rate Products - liabilities(8,882)— (8,882)— 
The carrying amount and estimated fair value of the Company’s financial instruments were as follows:
December 31, 2023

Estimated Fair Value

Carrying
Amount
Level 1Level 2Level 3
Financial assets:
Cash and cash equivalents$250,651 $250,651 $— $— 
Securities available for sale179,000 — 179,000 — 
Other equity securities3,649 3,649 — — 
Loans held for sale450 — 450 — 
Trading assets7,691 — 7,691 — 
Loans, net1,860,130 — 1,824,800 3,095 
Bank owned life insurance29,884 — 29,884 — 
Annuities15,036 — 15,036 — 
Accrued interest receivable8,711 — 8,711 — 
Restricted equity securities5,684 — — 5,684 
Financial liabilities:
Deposits$2,018,189 $— $2,016,506 $— 
Trading liabilities7,726 — 7,726 — 
FHLB advances70,000 — 70,029 — 
Other borrowings26,994 — 26,994 — 
Subordinated notes86,679 — 86,679 — 
Accrued interest payable1,519 — 1,519 — 
Fair Value of Financial Instruments (Continued)
December 31, 2022

Estimated Fair Value

Carrying
Amount
Level 1Level 2Level 3
Financial assets:
Cash and cash equivalents$168,499 $168,499 $— $— 
Securities available for sale155,544 — 155,544 — 
Other equity securities4,444 3,674 — 770 
Loans held for sale1,047 — 1,047 — 
Trading assets8,870 — 8,870 — 
Loans, net1,567,008 — 1,529,646 1,020 
Bank owned life insurance29,186 — 29,186 — 
Annuities15,478 — 15,478 — 
Accrued interest receivable6,963 — 6,963 — 
Restricted equity securities3,134 — — 3,134 
Financial liabilities:
Deposits$1,720,743 $— $1,714,249 $— 
Trading liabilities8,882 — 8,882 — 
FHLB advances31,000 — 30,788 — 
Other borrowings(19)— (19)— 
Subordinated notes86,314 — 86,314 — 
Accrued interest payable584 — 584 — 
Schedule of Fair Value Measurements, Nonrecurring Assets measured at fair value on a nonrecurring basis are included in the table below as of December 31, 2023 and 2022:
Fair Value Measurements At Reporting Date Using:

Fair ValueQuoted Prices
In Active
Markets For
Identical Assets
(Level 1)		Significant
Other
Observable
Inputs (Level 2)		Significant
Unobservable
Inputs (Level 3)
December 31, 2023
Individually analyzed loans$3,095 $— $— $3,095 
Foreclosed assets33 — — 33 
    Totals$3,128 $— $— $3,128 
Assets Measured at Fair Value on a Nonrecurring Basis (Continued)

Fair ValueQuoted Prices
In Active
Markets For
Identical Assets
(Level 1)		Significant Other
Observable
Inputs (Level 2)		Significant
Unobservable
Inputs (Level 3)
December 31, 2022
Impaired loans$1,020 $— $— $1,020 
Foreclosed assets2,930 — — 2,930 
    Totals$3,950 $— $— $3,950 
Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
The table below includes a rollforward of the balance sheet amounts for the year ended December 31, 2023 and 2022 (including the change in fair value) for financial instruments classified by the Company within Level 3 of the valuation hierarchy measured at fair value on a recurring basis.
December 31,
20232022
Carrying value, beginning of period$770$4,247 
  Purchases—— 
  Reinvestments13150 
  Redemptions(800)(3,306)
  Net realized gains17(321)
    Carrying value, end of period$— $770 
Schedule of Fair Value Measurement Inputs and Valuation Techniques
For Level 3 assets measured at fair value on a recurring basis as of December 31, 2023, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying
Amount
Valuation
Technique
Significant
Unobservable
Input
Weighted
Average
of Input
Recurring:
Other equity securities
$—Discounted cash flowDiscount rate (%)N/A

For Level 3 assets measured at fair value on a recurring basis as of December 31, 2022, the significant unobservable inputs used in the fair value measurements are presented below.

Carrying
Amount
Valuation
Technique
Significant
Unobservable
Input
Weighted
Average
of Input
Recurring:
Other equity securities
$770Discounted cash flowDiscount rate (%)N/A

For Level 3 assets measured at fair value on a nonrecurring basis as of December 31, 2023, the significant unobservable inputs used in the fair value measurements are presented below.
Carrying
Amount
Valuation
Technique
Significant
Unobservable
Input
Weighted
Average
of Input
Nonrecurring:
Individually analyzed loans
$3,095AppraisalAppraisal discounts (%)
15-20%
Foreclosed assets
$33AppraisalAppraisal discounts (%)
10-15%

For Level 3 assets measured at fair value on a nonrecurring basis as of December 31, 2022, the significant unobservable inputs used in the fair value measurements are presented below.
Carrying
Amount
Valuation
Technique
Significant
Unobservable
Input
Weighted
Average
of Input
Nonrecurring:
Impaired loans
$1,020AppraisalAppraisal discounts (%)
15-20%
Foreclosed assets
$2,930AppraisalAppraisal discounts (%)
10-15%