OTHER EXPENSES

3 Months Ended

Mar. 31, 2021

Other Income and Expenses [Abstract]

Other Expenses

OTHER EXPENSES

The Company had the following other noninterest expenses for the three months ended March 31, 2021 and 2020:

	Three Months Ended March 31,
(dollars in thousands)	2021		2020
Deposit account expenses	$	118	$	111
Insurance	99		49
ATM expenses	81		86
Fraud losses	1,329		7
Other expenses	604		566
	$	2,231	$	819

For the three months ended March 31, 2021, fraud losses include a $1.3 million charge related to an isolated wire transfer fraud incident. No additional expense is expected to be incurred relating to this incident and the Company have submitted an insurance claim that could result in a recovery of a portion of the expense. In addition, through April 30, 2021 the Company recovered approximately $0.2 million from other financial institutions that will be recognized in the second quarter.