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SECURITIES (Tables)
3 Months Ended
Mar. 31, 2023
SECURITIES [Abstract]  
Amortized Cost and Fair Value of Securities Available-for-sale
The following table summarizes the amortized cost and fair value of securities available for sale and securities held to maturity at March 31, 2023 and December 31, 2022 and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive (loss) and gross unrecognized gains and losses, and allowance for credit losses:

Securities Available for Sale
 
Amortized
Cost
   
Gross Unrealized
Gains
   
Gross Unrealized
Losses
   
Estimated
Fair Value
 
March 31, 2023
                       
U.S. Government securities
 
$
57,836
   
$
5
   
$
(2,373
)
 
$
55,468
 
U.S. Government sponsored entity securities
   
6,680
     
     
(740
)
   
5,940
 
Agency mortgage-backed securities, residential
   
131,843
     
     
(13,498
)
   
118,345
 
Total securities
 
$
196,359
   
$
5
   
$
(16,611
)
 
$
179,753
 
                                 
December 31, 2022
                               
U.S. Government securities
 
$
57,698
   
$
   
$
(2,906
)
 
$
54,792
 
U.S. Government sponsored entity securities
   
8,845
     
     
(862
)
   
7,983
 
Agency mortgage-backed securities, residential
   
136,282
     
     
(14,983
)
   
121,299
 
Total securities
 
$
202,825
   
$
   
$
(18,751
)
 
$
184,074
 
Amortized Cost and Fair Value of Securities Held-to-maturity
Securities Held to Maturity
 
Amortized
Cost
   
Gross Unrecognized
Gains
   
Gross Unrecognized
Losses
   
Estimated
Fair Value
   
Allowance for Credit Losses
 
March 31, 2023
                             
Obligations of states and political subdivisions
 
$
9,003
   
$
29
   
$
(635
)
 
$
8,397
   
$
(3
)
Agency mortgage-backed securities, residential
   
1
     
     
     
1
     
 
Total securities
 
$
9,004
   
$
29
   
$
(635
)
 
$
8,398
   
$
(3
)
                                         
December 31, 2022
                                       
Obligations of states and political subdivisions
 
$
9,225
   
$
32
   
$
(798
)
 
$
8,459
         
Agency mortgage-backed securities, residential
   
1
     
     
     
1
         
Total securities
 
$
9,226
   
$
32
   
$
(798
)
 
$
8,460
         
Amortized Cost and Fair Value of Securities by Contractual Maturity
The amortized cost and estimated fair value of debt securities at March 31, 2023, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because certain issuers may have the right to call or prepay the debt obligations prior to their contractual maturities.  Securities not due at a single maturity are shown separately.

   
Available for Sale
   
Held to Maturity
 
Debt Securities:
 
Amortized
Cost
   
Estimated
Fair Value
   
Amortized
Cost
   
Estimated
Fair Value
 
                         
Due in one year or less
 
$
10,113
   
$
9,987
   
$
585
   
$
585
 
Due in over one to five years
   
54,403
     
51,421
     
3,899
     
3,706
 
Due in over five to ten years
   
     
     
2,249
     
2,075
 
Due after ten years
   
     
     
2,270
     
2,031
 
Agency mortgage-backed securities, residential
   
131,843
     
118,345
     
1
     
1
 
Total debt securities
 
$
196,359
   
$
179,753
   
$
9,004
   
$
8,398
 
Securities with Unrealized Losses in Continuous Unrealized Loss Position
The following table summarizes debt securities available for sale in an unrealized loss position for which an allowance for credit losses has not been recorded at March 31, 2023 and December 31, 2022, aggregated by major security type and length of time in a continuous unrealized loss position:

March 31, 2023
 
Less Than 12 Months
   
12 Months or More
   
Total
 
   
Fair Value
   
Unrealized
Loss
   
Fair Value
   
Unrealized
Loss
   
Fair Value
   
Unrealized
Loss
 
Securities Available for Sale
                                   
U.S. Government securities
 
$
20,057
   
$
(257
)
 
$
28,420
   
$
(2,116
)
 
$
48,477
   
$
(2,373
)
U.S. Government sponsored entity
   securities
   
     
     
5,940
     
(740
)
   
5,940
     
(740
)
Agency mortgage-backed
                                               
   securities, residential
   
9,941
     
(490
)
   
108,405
     
(13,008
)
   
118,346
     
(13,498
)
Total available for sale
 
$
29,998
   
$
(747
)
 
$
142,765
   
$
(15,864
)
 
$
172,763
   
$
(16,611
)

December 31, 2022
 
Less Than 12 Months
   
12 Months or More
   
Total
 
   
Fair Value
   
Unrealized
Loss
   
Fair Value
   
Unrealized
Loss
   
Fair Value
   
Unrealized
Loss
 
Securities Available for Sale
                                   
U.S. Government securities
 
$
36,460
   
$
(977
)
 
$
18,332
   
$
(1,929
)
 
$
54,792
   
$
(2,906
)
U.S. Government sponsored entity
   securities
   
2,786
     
(60
)
   
5,197
     
(802
)
   
7,983
     
(862
)
Agency mortgage-backed securities, residential
   
71,510
     
(7,178
)
   
49,789
     
(7,805
)
   
121,299
     
(14,983
)
Total available for sale
 
$
110,756
   
$
(8,215
)
 
$
73,318
   
$
(10,536
)
 
$
184,074
   
$
(18,751
)
Allowance for Credit Losses for Held to Maturity Debt Securities
The following table presents the activity in the allowance for credit losses for held to maturity debt securities:

Held to Maturity Debt Securities
 
Three months ended
March 31, 2023
 
Allowance for credit losses:
     
    Beginning balance
 
$
 
    Impact of adopting ASC 326
   
3
 
    Credit loss expense
   
 
Allowance for credit losses ending balance
 
$
3