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FAIR VALUE (Tables)
 12 Months Ended
Dec. 31, 2019
FAIR VALUE [Abstract]  
Carrying Amounts and Estimated Fair Values of Financial Instruments
The carrying amounts and estimated fair values of financial instruments at December 31, 2019 were as follows:

     
Fair Value Measurements at December 31, 2019 Using
 
  
Carrying
Amount
  
Level 1
  
Level 2
  
Level 3
  
Total
 
Financial assets
               
Cash and due from banks
 
$
88,556
  
$
88,556
  
$
-
  
$
-
  
$
88,556
 
Time deposits with other banks
  
598
   
-
   
599
   
-
   
599
 
Federal funds sold
  
5,902
   
5,902
   
-
   
-
   
5,902
 
Securities available for sale
  
390,754
   
-
   
390,754
   
-
   
390,754
 
Loans, net
  
1,181,753
   
-
   
-
   
1,172,575
   
1,172,575
 
Federal Home Loan Bank stock
  
4,450
   
n/a
   
n/a
   
n/a
   
n/a
 
Interest receivable
  
4,699
   
4
   
1,110
   
3,585
   
4,699
 
                     
Financial liabilities
                    
Deposits
 
$
(1,495,753
)
 
$
(1,070,610
)
 
$
(424,886
)
 
$
-
  
$
(1,495,496
)
Securities sold under agreements to repurchase
  
(20,428
)
  
-
   
(20,428
)
  
-
   
(20,428
)
FHLB advances
  
(6,375
)
  
-
   
(6,406
)
  
-
   
(6,406
)
Subordinated debt
  
(5,436
)
  
-
   
(5,527
)
  
-
   
(5,527
)
Interest payable
  
(912
)
  
(15
)
  
(897
)
  
-
   
(912
)

The carrying amounts and estimated fair values of financial instruments at December 31, 2018 were as follows:

     
Fair Value Measurements at December 31, 2018 Using
 
  
Carrying
Amount
  
Level 1
  
Level 2
  
Level 3
  
Total
 
Financial assets
               
Cash and due from banks
 
$
62,903
  
$
62,903
  
$
-
  
$
-
  
$
62,903
 
Time deposits with other banks
  
1,094
   
-
   
1,085
   
-
   
1,085
 
Federal funds sold
  
17,872
   
17,872
   
-
   
-
   
17,872
 
Securities available for sale
  
365,731
   
-
   
365,231
   
500
   
365,731
 
Loans, net
  
1,135,563
   
-
   
-
   
1,121,517
   
1,121,517
 
Federal Home Loan Bank stock
  
3,628
   
n/a
   
n/a
   
n/a
   
n/a
 
Interest receivable
  
4,295
   
-
   
1,032
   
3,263
   
4,295
 
                     
Financial liabilities
                    
Deposits
 
$
(1,430,127
)
 
$
(1,039,430
)
 
$
(384,496
)
 
$
-
  
$
(1,423,926
)
Securities sold under agreements to repurchase
  
(22,062
)
  
-
   
(22,062
)
  
-
   
(22,062
)
FHLB advances
  
(8,819
)
  
-
   
(8,688
)
  
-
   
(8,688
)
Other borrowed funds
  
(2,500
)
  
-
   
(2,478
)
  
-
   
(2,478
)
Subordinated debt
  
(5,406
)
  
-
   
(5,509
)
  
-
   
(5,509
)
Interest payable
  
(733
)
  
(22
)
  
(711
)
  
-
   
(733
)
Assets and Liabilities Measured at Fair Value on a Recurring Basis
Assets and liabilities measured at fair value on a recurring basis at December 31, 2019 are summarized below:

     
Fair Value Measurements at
December 31, 2019 Using:
 
  
Carrying Value
  
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
  
Significant
Other
Observable
Inputs
(Level 2)
  
Significant
Unobservable
Inputs
(Level 3)
 
Securities available for sale
            
Mortgage-backed securities
            
U. S. agency MBS - residential
 
$
279,309
  
$
-
  
$
279,309
  
$
-
 
U. S. agency CMO’s
  
62,644
   
-
   
62,644
   
-
 
Total mortgage-backed securities of government sponsored agencies
  
341,953
   
-
   
341,953
   
-
 
U. S. government sponsored agency securities
  
30,730
   
-
   
30,730
   
-
 
Obligations of states and political subdivisions
  
16,017
   
-
   
16,017
   
-
 
Other securities
  
2,054
   
-
   
2,054
   
-
 
Total securities available for sale
 
$
390,754
  
$
-
  
$
390,754
  
$
-
 

Assets and liabilities measured at fair value on a recurring basis at December 31, 2018 are summarized below:

     
Fair Value Measurements at
December 31, 2018 Using:
 
  
Carrying Value
  
Quoted Prices in
Active Markets
for Identical
Assets
(Level 1)
  
Significant
Other
Observable
Inputs
(Level 2)
  
Significant
Unobservable
Inputs
(Level 3)
 
Securities available for sale
            
Mortgage-backed securities
            
U. S. agency MBS - residential
 
$
255,242
  
$
-
  
$
255,242
  
$
-
 
U. S. agency CMO’s
  
68,543
   
-
   
68,543
   
-
 
Total mortgage-backed securities of government sponsored agencies
  
323,785
   
-
   
323,785
   
-
 
U. S. government sponsored agency securities
  
24,170
   
-
   
24,170
   
-
 
Obligations of states and political subdivisions
  
14,327
   
-
   
14,327
   
-
 
 
  
3,449
   
-
   
2,949
   
500
 
Total securities available for sale
 
$
365,731
  
$
-
  
$
365,231
  
$
500
 
Reconciliation of All Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs
The table below presents a reconciliation of all assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the year ended December 31, 2019:

  
Securities
Available-for-sale
 
  
Year Ended
December 31,
2019
 
Balance of recurring Level 3 assets at beginning of period
 
$
500
 
Total gains or losses (realized/unrealized):
    
Included in earnings – realized
  
-
 
Included in earnings – unrealized
  
-
 
Included in other comprehensive income
  
-
 
Purchases, sales, issuances and settlements, net
  
(500
)
Transfers in and/or out of Level 3
  
-
 
Balance of recurring Level 3 assets at period-end
 
$
-
 
Assets and Liabilities Measured at Fair Value on a Non-recurring Basis
Assets and liabilities measured at fair value on a non-recurring basis at December 31, 2019 are summarized below:

     
Fair Value Measurements at December 31, 2019 Using
 
  
Dec 31,
2019
  
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
  
Significant
Other
Observable
Inputs
(Level 2)
  
Significant
Unobservable
Inputs
(Level 3)
 
Assets:
            
Impaired loans:
            
Multifamily real estate
 
$
1,900
  
$
-
  
$
-
  
$
1,900
 
Commercial real estate
                
Owner occupied
  
509
   
-
   
-
   
509
 
Non-owner occupied
  
2,266
   
-
   
-
   
2,266
 
Commercial and industrial
  
288
   
-
   
-
   
288
 
Construction and land
  
380
   
-
   
-
   
380
 
Total impaired loans
 
$
5,343
  
$
-
  
$
-
  
$
5,343
 
                 
Other real estate owned:
                
Residential real estate
 
$
249
  
$
-
  
$
-
  
$
249
 
Multifamily real estate
  
9,588
   
-
   
-
   
9,588
 
Commercial real estate
                
Owner occupied
  
288
   
-
   
-
   
288
 
Construction and land
  
750
   
-
   
-
   
750
 
Total OREO
 
$
10,875
  
$
-
  
$
-
  
$
10,875
 
 
Assets and liabilities measured at fair value on a non-recurring basis at December 31, 2018 are summarized below:

     
Fair Value Measurements at December 31, 2018 Using
 
  
Dec 31,
2018
  
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
  
Significant
Other
Observable
Inputs
(Level 2)
  
Significant
Unobservable
Inputs
(Level 3)
 
Assets:
            
Impaired loans:
            
Multifamily real estate
 
$
2,514
  
$
-
  
$
-
  
$
2,514
 
Commercial real estate
                
Owner occupied
  
1,786
   
-
   
-
   
1,786
 
Non-owner occupied
  
2,514
   
-
   
-
   
2,514
 
Commercial and industrial
  
144
   
-
   
-
   
144
 
Construction and land
  
423
   
-
   
-
   
423
 
Total impaired loans
 
$
7,381
  
$
-
  
$
-
  
$
7,381
 
                 
Other real estate owned:
                
Residential real estate
 
$
984
  
$
-
  
$
-
  
$
984
 
Multifamily real estate
  
10,307
   
-
   
-
   
10,307
 
Commercial real estate
                
Owner occupied
  
125
   
-
   
-
   
125
 
Non-owner occupied
  
200
   
-
   
-
   
200
 
Construction and land
  
150
   
-
   
-
   
150
 
Total OREO
 
$
11,766
  
$
-
  
$
-
  
$
11,766
 
Fair Value Inputs, Assets, Quantitative Information
The significant unobservable inputs related to assets and liabilities measured at fair value on a non-recurring basis at December 31, 2019 are summarized below:

  
December 31,
2019
 
Valuation
Techniques
Unobservable Inputs
 
Range (Weighted
Avg)
 
Impaired loans:
        
Multifamily real estate
 
$
1,900
 
sales comparison
adjustment for estimated realizable value
  
58.9%-58.9% (58.9
%)
Commercial real estate
          
Owner occupied
  
509
 
sales comparison
adjustment for estimated realizable value
  
76.1%-76.1% (76.1
%)
Non-owner occupied
  
2,266
 
income approach
adjustment for differences in net operating income expectations
  
36.6%-67.4% (60.6
%)
Commercial and industrial
  
288
 
sales comparison
adjustment for estimated realizable value
  
25.0%-87.0% (43.6
%)
Construction and land
  
380
 
sales comparison
adjustment for estimated realizable value
  
56.5%-56.5% (56.5
%)
Total impaired loans
 
$
5,343
       
           
Other real estate owned:
          
Residential real estate
 
$
249
 
sales comparison
adjustment for estimated realizable value
  
0.2%-59.8% (17.5
%)
Multifamily real estate
  
9,588
 
income approach
adjustment for differences in net operating income expectations
  
25.6%-25.6% (25.6
%)
Commercial real estate
          
Owner occupied
  
288
 
sales comparison
adjustment for estimated realizable value
  
14.6%-70.4% (34.0
%)
Construction and land
  
750
 
sales comparison
adjustment for estimated realizable value
  
50.3%-69.9% (66.0
%)
Total OREO
 
$
10,875
       
 
The significant unobservable inputs related to assets and liabilities measured at fair value on a non-recurring basis at December 31, 2018 are summarized below:

  
December 31,
2018
 
Valuation
Techniques
Unobservable Inputs
 
Range
(Weighted Avg)
 
Impaired loans:
        
Multifamily real estate
 
$
2,514
 
sales comparison
adjustment for estimated realizable value
  
45.3%-45.3% (45.3
%)
Commercial real estate
          
Owner occupied
  
1,786
 
sales comparison
adjustment for estimated realizable value
  
31.5%-50.6% (35.5
%)
Non-owner occupied
  
2,514
 
income approach
adjustment for differences in net operating income  expectations
  
16.1%-67.2% (54.1
%)
Commercial and industrial
  
144
 
sales comparison
adjustment for estimated realizable value
  
0.0%-0.0% (0.0
%)
Construction and land
  
423
 
sales comparison
adjustment for estimated realizable value
  
53.2%-83.6% (54.5
%)
Total impaired loans
 
$
7,381
       
           
Other real estate owned:
          
Residential real estate
 
$
984
 
sales comparison
adjustment for estimated realizable value
  
19.2%-59.8% (21.9
%)
Multifamily real estate
  
10,307
 
income approach
adjustment for differences in net operating income  expectations
  
20.0%-20.0% (20.0
%)
Commercial real estate
          
Owner occupied
  
125
 
sales comparison
adjustment for estimated realizable value
  
42.4%-42.4% (42.4
%)
Non-owner occupied
  
200
 
sales comparison
adjustment for estimated realizable value
  
57.9%-57.9% (57.9
%)
Construction and land
  
150
 
sales comparison
adjustment for estimated realizable value
  
50.3%-50.3% (50.3
%)
Total OREO
 
$
11,766