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FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis
The tables below present the recorded amount of assets as of March 31, 2021 and December 31, 2020 measured at fair value on a recurring basis.
(dollars in thousands)March 31, 2021
Description of AssetFair ValueLevel 1Level 2Level 3
AFS securities
Asset-backed securities issued by GSEs and U.S. Agencies
MBS$38,380 $— $38,380 $— 
CMOs132,648 — 132,648 — 
Asset-backed securities issued by Others:
Residential CMOs275 — 275 — 
Student Loan Trust ABSs40,480 — 40,480 — 
U.S. government obligations4,444 — 4,444 — 
Municipal bonds37,121 — 37,121 — 
Total AFS securities$253,348 $— $253,348 $— 
Equity securities carried at fair value through income
CRA investment fund$4,787 $— $4,787 $— 
Non-marketable equity securities
Other equity securities$207 $— $207 $— 

(dollars in thousands)December 31, 2020
Description of AssetFair ValueLevel 1Level 2Level 3
AFS securities
Asset-backed securities issued by GSEs and U.S. Agencies
MBS$34,953 $— $34,953 $— 
CMOs127,447 — 127,447 — 
Asset-backed securities issued by others:
Residential CMOs288 — 288 — 
Student Loan Trust ABSs37,439 — 37,439 — 
U.S. government obligations1,500 — 1,500 — 
Municipal bonds44,478 — 44,478 — 
Total AFS securities$246,105 $— $246,105 $— 
Equity securities carried at fair value through income
CRA investment fund$4,855 $— $4,855 $— 
Non-marketable equity securities
Other equity securities$207 $— $207 $— 
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis Assets measured at fair value on a nonrecurring basis as of March 31, 2021 and December 31, 2020 were included in the tables below.
(dollars in thousands)March 31, 2021
Description of AssetFair ValueLevel 1Level 2Level 3
Loans with impairment
Commercial real estate$5,436 $— $— $5,436 
Total loans with impairment$5,436 $— $— $5,436 
Premises and equipment held for sale$430 $— $— $430 
Other real estate owned$2,329 $— $— $2,329 

(dollars in thousands)December 31, 2020
Description of AssetFair ValueLevel 1Level 2Level 3
Loans with impairment
Commercial real estate
$4,483 $— $— $4,483 
Total loans with impairment
$4,483 $— $— $4,483 
Premises and equipment held for sale$430 $— $— $430 
Other real estate owned$3,109 $— $— $3,109 
Schedule of unobservable inputs used in Level 3 fair value measurements
The following tables provide information describing the unobservable inputs used in Level 3 fair value measurements at March 31, 2021 and December 31, 2020.
March 31, 2021Fair ValueValuation TechniqueUnobservable InputsRange (Weighted Average)
(dollars in thousands)
Description of Asset
Loans with impairment$5,436 Third party appraisals and in-house real estate evaluations of fair valueManagement discount for property type, selling costs and current market conditions
0% - 50% - 14%
Premises and equipment held for sale$430 Third party appraisals, in-house real estate evaluations of fair value and contracts to sell.Management discount for property type and current market conditions
0% - 25% - 10%
Other real estate owned$2,329 Third party appraisals and in-house real estate evaluations of fair valueManagement discount for property type and current market conditions
0% - 50% - 49%
December 31, 2020Fair ValueValuation TechniqueUnobservable InputsRange (Weighted Average)
(dollars in thousands)
Description of Asset
Loans with impairment$4,483 Third party appraisals and in-house real estate evaluations of fair valueManagement discount for property type, selling costs and current market conditions
0% - 50% - 23%
Premises and equipment held for sale$430 Third party appraisals, in-house real estate evaluations of fair value and contracts to sell.Management discount for property type and current market conditions
0% - 25% - 10%
Other real estate owned$3,109 Third party appraisals and in-house real estate evaluations of fair valueManagement discount for property type and current market conditions
0% - 50% - 47%