FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2025

FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]

Assets and Liabilities Measured on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis are summarized below:

	Fair Value Measurements at March 31, 2025 Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Assets:
U.S. Government securities	$	134,170	$	—		$	—
U.S. Government sponsored entity securities		—		5,970			—
Agency mortgage-backed securities, residential		—		119,120			—
Interest rate swap derivatives		—		943			—
Liabilities:
Interest rate swap derivatives		—		(943	)		—

	Fair Value Measurements at December 31, 2024 Using
	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Assets:
U.S. Government securities	$	168,030	$	—		$	—
U.S. Government sponsored entity securities		—		5,888			—
Agency mortgage-backed securities, residential		—		94,202			—
Interest rate swap derivatives		—		657			—
Liabilities:
Interest rate swap derivatives		—		(657	)		—

Carrying Amounts and Estimated Fair Values of Financial Instruments

The carrying amounts and estimated fair values of financial instruments at March 31, 2025 and December 31, 2024 are as follows:

	Carrying		Fair Value Measurements at March 31, 2025 Using
	Value		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and cash equivalents	$	120,608	$	120,608	$	—	$	—	$	120,608
Securities available for sale		259,260		134,170		125,090		—		259,260
Securities held to maturity		6,531		—		3,676		2,245		5,921
Loans, net		1,033,157		—		—		1,018,623		1,018,623
Interest rate swap derivatives		943		—		943		—		943
Accrued interest receivable		4,792		—		1,405		3,387		4,792
Financial liabilities:
Deposits		1,284,169		884,145		400,702		—		1,284,847
Other borrowed funds		38,440		—		37,723		—		37,723
Subordinated debentures		8,500		—		8,500		—		8,500
Interest rate swap derivatives		943		—		943		—		943
Accrued interest payable		5,332		1		5,331		—		5,332

	Carrying		Fair Value Measurements at December 31, 2024 Using:
	Value		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and cash equivalents	$	83,107	$	83,107	$	—	$	—	$	83,107
Securities available for sale		268,120		168,030		100,090		—		268,120
Securities held to maturity		7,049		—		3,651		2,769		6,420
Loans, net		1,051,737		—		—		1,037,349		1,037,349
Interest rate swap derivatives		657		—		657		—		657
Accrued interest receivable		4,805		—		1,540		3,265		4,805
Financial liabilities:
Deposits		1,275,178		881,290		394,470		—		1,275,760
Other borrowed funds		39,740		—		38,815		—		38,815
Subordinated debentures		8,500		—		8,500		—		8,500
Interest rate swap derivatives		657		—		657		—		657
Accrued interest payable		5,234		1		5,233		—		5,234