FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis

The tables below present the recorded amount of assets as of March 31, 2022 and December 31, 2021 measured at fair value on a recurring basis.

(dollars in thousands)	March 31, 2022
Description of Asset	Fair Value		Level 1		Level 2		Level 3
AFS securities
Asset-backed securities issued by GSEs and U.S. Agencies
MBS	$	121,520	$	—	$	121,520	$	—
CMOs	189,799		—		189,799		—
U.S. Agency	13,410		—		13,410		—
Asset-backed securities issued by Others:
Residential CMOs	199		—		199		—
Student Loan Trust ABSs	53,469		—		53,469		—
Municipal bonds	90,827		—		90,827		—
Corporate bonds	2,960		—		2,960		—
U.S. government obligations	35,343		—		35,343		—
Total AFS securities	$	507,527	$	—	$	507,527	$	—
Equity securities carried at fair value through income
CRA investment fund	$	4,562	$	—	$	4,562	$	—
Non-marketable equity securities
Other equity securities	$	207	$	—	$	207	$	—
Loans held for sale	$	373	$	—	$	373	$	—
Mortgage banking derivative
Interest rate lock commitments	$	—	$	—	$	—	$	—

(dollars in thousands)	December 31, 2021
Description of Asset	Fair Value		Level 1		Level 2		Level 3
AFS securities
Asset-backed securities issued by GSEs and U.S. Agencies
MBS	$	119,916	$	—	$	119,916	$	—
CMOs	197,123		—		197,123		—
U.S. Agency	14,304		—		14,304		—
Asset-backed securities issued by others:
Residential CMOs	221		—		221		—
Student Loan Trust ABSs	56,574		—		56,574		—
Municipal bonds	92,841		—		92,841		—
U.S. government obligations	16,860		—		16,860		—
Total AFS securities	$	497,839	$	—	$	497,839	$	—
Equity securities carried at fair value through income
CRA investment fund	$	4,772	$	—	$	4,772	$	—
Non-marketable equity securities
Other equity securities	$	207	$	—	$	207	$	—
Mortgage banking derivative
Interest rate lock commitments	$	28	$	—	$	—	$	28

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis

Assets measured at fair value on a nonrecurring basis as of March 31, 2022 and December 31, 2021 were included in the tables below.

(dollars in thousands)	March 31, 2022
Description of Asset	Fair Value		Level 1		Level 2		Level 3
Individually assessed loans
Commercial real estate	$	—	$	—	$	—	$	—
Commercial loans	—		—		—		—
Commercial equipment	427		—		—		427
Total loans with impairment	$	427	$	—	$	—	$	427

(dollars in thousands)	December 31, 2021
Description of Asset	Fair Value		Level 1		Level 2		Level 3
Loans with impairment
Commercial real estate	$	—	$	—	$	—	$	—
Commercial loans	—		—		—		—
Commercial equipment	—		—		—		—
Total loans with impairment	$	—	$	—	$	—	$	—
Premises and equipment held for sale	$	—	$	—	$	—	$	—
Other real estate owned	$	—	$	—	$	—	$	—

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, 2022 and December 31, 2021.

March 31, 2022	Fair Value		Valuation Technique	Unobservable Inputs	Range (Weighted Average)
(dollars in thousands)
Description of Asset
Loans with impairment	$	427	Third party appraisals and in-house real estate evaluations of fair value	Management discount for property type, selling costs and current market conditions	0% - 50% - 40%

December 31, 2021	Fair Value		Valuation Technique	Unobservable Inputs	Range (Weighted Average)
(dollars in thousands)
Description of Asset
Interest rate lock commitments	$	28	Freddie Mac pricing of loans with comparable terms	Pull-through rate	0% - 100% - 75%