COMMITMENTS, CONTINGENT LIABILITIES, RISKS AND UNCERTAINTIES (Tables)

12 Months Ended

Dec. 31, 2020

COMMITMENTS, CONTINGENT LIABILITIES, RISKS AND UNCERTAINTIES [Abstract]

Financial Instruments whose Contract Amounts Represent Credit Risk

The Company’s exposure to credit loss from nonperformance by the other party to the financial instruments for commitments to extend credit and standby letters of credit is represented by the contractual amount of these instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Financial instruments, whose contract amounts represent credit risk at December 31, 2020 and 2019, are as follows (in thousands):

	2020		2019
Commitments to extend credit	$	274,327	$	211,530
Standby letters of credit		21,978		17,857
	$	296,305	$	229,387