FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis

The tables below present the recorded amount of assets as of September 30, 2022 and December 31, 2021 measured at fair value on a recurring basis.

(dollars in thousands)	September 30, 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	$	114,736	$	—	$	114,736	$	—
CMOs	164,867		—		164,867		—
U.S. Agency	12,226		—		12,226		—
Asset-backed securities issued by Others:
Residential CMOs	9,103		—		9,103		—
Student Loan Trust ABSs	48,539		—		48,539		—
Municipal bonds	78,864		—		78,864		—
Corporate bonds	2,609		—		2,609		—
U.S. government obligations	33,558		—		33,558		—
Total AFS securities	$	464,502	$	—	$	464,502	$	—
Equity securities carried at fair value through income
CRA investment fund	$	4,254	$	—	$	4,254	$	—
Non-marketable equity securities
Other equity securities	$	207	$	—	$	207	$	—

(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

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 September 30, 2022 and December 31, 2021.

September 30, 2022	Fair Value		Valuation Technique	Unobservable Inputs	Range (Weighted Average)
(dollars in thousands)
Description of Asset
Loans with individually assessed loans	$	—	Third party appraisals and in-house equipment evaluations of fair value	Management discount for equipment type and current market conditions	0% - 50% - 100%

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%