0001140361-21-016527 | 10-Q | XBRL Viewer | South Plains Financial INC

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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2021	May 07, 2021
Cover [Abstract]
Entity Registrant Name	South Plains Financial, Inc.
Entity Central Index Key	0001163668
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Document Transition Report	false
Entity File Number	001-38895
Entity Incorporation, State or Country Code	TX
Entity Tax Identification Number	75-2453320
Entity Address, Address Line One	5219 City Bank Parkway
Entity Address, City or Town	Lubbock
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	79407
City Area Code	806
Local Phone Number	792-7101
Title of 12(b) Security	Common Stock, $1.00 par value per share
Trading Symbol	SPFI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		18,036,194

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
ASSETS
Cash and due from banks	$ 65,204	$ 76,146
Interest-bearing deposits in banks	348,202	224,161
Cash and cash equivalents	413,406	300,307
Securities available for sale	777,208	803,087
Loans held for sale	125,792	111,477
Loans held for investment	2,242,676	2,221,583
Allowance for loan losses	(45,019)	(45,553)
Accrued interest receivable	11,277	15,233
Premises and equipment, net	59,211	60,331
Bank-owned life insurance	71,061	70,731
Goodwill	19,508	19,508
Intangible assets, net	7,140	7,562
Mortgage servicing rights	13,558	9,049
Deferred tax asset, net	4,004	2,461
Other assets	33,072	23,384
Total assets	3,732,894	3,599,160
Deposits:
Noninterest-bearing	962,205	917,322
Interest-bearing	2,193,427	2,057,029
Total deposits	3,155,632	2,974,351
Short-term borrowings	17,525	26,550
Accrued expenses and other liabilities	38,038	31,229
Notes payable & other borrowings	25,000	75,000
Subordinated debt securities	75,635	75,589
Junior subordinated deferrable interest debentures	46,393	46,393
Total liabilities	3,358,223	3,229,112
Stockholders' equity:
Common stock, $1.00 par value per share, 30,000,000 shares authorized; 18,053,229 and 18,076,364 issued and outstanding at March 31, 2021 and December 31, 2020, respectively	18,053	18,076
Additional paid-in capital	140,633	141,112
Retained earnings	203,777	189,521
Accumulated other comprehensive income	12,208	21,339
Total stockholders' equity	374,671	370,048
Total liabilities and stockholders' equity	$ 3,732,894	$ 3,599,160

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 1.00	$ 1.00
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares issued (in shares)	18,053,229	18,076,364
Common stock, shares outstanding (in shares)	18,053,229	18,076,364

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Interest income:
Loans, including fees	$ 29,280	$ 31,015
Securities:
Taxable	2,460	3,780
Non taxable	1,170	396
Federal funds sold and interest-bearing deposits in banks	72	546
Total interest income	32,982	35,737
Interest expense:
Deposits	2,157	4,283
Notes payable & other borrowings	39	450
Subordinated debt securities	1,019	404
Junior subordinated deferrable interest debentures	223	401
Total interest expense	3,438	5,538
Net interest income	29,544	30,199
Provision for loan losses	89	6,234
Net interest income, after provision for loan losses	29,455	23,965
Noninterest income:
Service charges on deposit accounts	1,573	1,983
Income from insurance activities	1,112	1,159
Net gain on sales of loans	15,943	8,540
Bank card services and interchange fees	2,642	2,238
Realized gain on sale of securities	0	2,318
Investment commissions	430	455
Fiduciary fees	836	829
Other	3,964	1,353
Total noninterest income	26,500	18,875
Noninterest expense:
Salaries and employee benefits	24,318	20,810
Occupancy and equipment, net	3,565	3,600
Professional services	1,573	1,572
Marketing and development	568	768
IT and data services	1,054	847
Bank card expenses	1,049	1,052
Appraisal expenses	681	455
Other	4,249	4,907
Total noninterest expense	37,057	34,011
Income before income taxes	18,898	8,829
Income tax expense	3,738	1,746
Net income (loss)	$ 15,160	$ 7,083
Earnings per share:
Basic (in dollars per share)	$ 0.84	$ 0.39
Diluted (in dollars per share)	$ 0.82	$ 0.38
Net income	$ 15,160	$ 7,083
Other comprehensive income:
Change in net unrealized gain on securities available for sale	(18,492)	21,189
Change in net losses on cash flow hedges	6,933	(1,227)
Reclassification adjustment for (gain) included in net income	0	(2,318)
Tax effect	2,428	(3,705)
Other comprehensive income (loss)	(9,131)	13,939
Comprehensive income	$ 6,029	$ 21,022

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Balance at Dec. 31, 2019	$ 18,036	$ 140,492	$ 146,696	$ 958	$ 306,182
Balance (in shares) at Dec. 31, 2019	18,036,115
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 0	0	7,083	0	7,083
Cash dividends, common	0	0	(541)	0	(541)
Other comprehensive income (loss)	0	0	0	13,939	13,939
Exercise of employee stock options and vesting of restricted stock units	$ 20	(103)	0	0	(83)
Exercise of employee stock options and vesting of restricted stock units (in shares)	19,899
Stock based compensation	$ 0	310	0	0	310
Balance at Mar. 31, 2020	$ 18,056	140,699	153,238	14,897	326,890
Balance (in shares) at Mar. 31, 2020	18,056,014
Balance at Dec. 31, 2020	$ 18,076	141,112	189,521	21,339	$ 370,048
Balance (in shares) at Dec. 31, 2020	18,076,364				18,076,364
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 0	0	15,160	0	$ 15,160
Cash dividends, common	0	0	(904)	0	(904)
Other comprehensive income (loss)	0	0	0	(9,131)	(9,131)
Exercise of employee stock options and vesting of restricted stock units	$ 20	(126)	0	0	(106)
Exercise of employee stock options and vesting of restricted stock units (in shares)	20,049
Stock based compensation	$ 0	390	0	0	390
Repurchases of common stock	$ (43)	(743)	0	0	(786)
Repurchases of common stock (in shares)	(43,184)
Balance at Mar. 31, 2021	$ 18,053	$ 140,633	$ 203,777	$ 12,208	$ 374,671
Balance (in shares) at Mar. 31, 2021	18,053,229				18,053,229

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY [Abstract]
Cash dividends, common (in dollars per share)	$ 0.05	$ 0.03
Exercise of employee stock options, shares for cashless exercise (in shares)	1,100	660
Exercise of employee stock options, shares for taxes (in shares)	5,013	4,986

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net income	$ 15,160	$ 7,083
Adjustments to reconcile net income to net cash from operating activities:
Provision for loan losses	89	6,234
Depreciation and amortization	1,617	1,606
Accretion and amortization	1,129	379
Other gains, net	(2)	(2,383)
Net gain on sales of loans	(15,943)	(8,540)
Proceeds from sales of loans held for sale	434,582	210,445
Loans originated for sale	(436,176)	(216,024)
Earnings on bank-owned life insurance	(330)	(359)
Stock based compensation	390	310
Change in valuation of mortgage servicing rights	(1,287)	462
Net change in:
Accrued interest receivable and other assets	(3,368)	(2,930)
Accrued expenses and other liabilities	12,287	8,032
Net cash from operating activities	8,148	4,315
Activity in securities available for sale:
Purchases	(37,046)	(112,358)
Sales	0	94,514
Maturities, prepayments, and calls	43,350	11,513
Loan originations and principal collections, net	(22,094)	31,937
Purchases of premises and equipment, net	(90)	(1,156)
Proceeds from sales of premises and equipment	17	83
Proceeds from sales of foreclosed assets	354	513
Net cash from investing activities	(15,509)	25,046
Cash flows from financing activities:
Net change in deposits	181,281	(31,008)
Net change in short-term borrowings	(9,025)	(19,765)
Payments to tax authorities for stock-based compensation	(106)	(84)
Payments made on notes payable and other borrowings	(50,000)	0
Cash dividends on common stock	(904)	(541)
Purchase of treasury stock	(786)	0
Net cash from financing activities	120,460	(51,398)
Net change in cash and cash equivalents	113,099	(22,037)
Beginning cash and cash equivalents	300,307	158,099
Ending cash and cash equivalents	413,406	136,062
Supplemental disclosures of cash flow information:
Interest paid on deposits and borrowed funds	4,070	5,771
Supplemental schedule of noncash activities:
Loans transferred to foreclosed assets	378	574
Measurement period acquisition adjustment	0	1,211
Additions to mortgage servicing rights	$ 3,222	$ 518

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Mar. 31, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations – South Plains Financial, Inc. (“SPFI”) is a Texas corporation and registered bank holding company that conducts its principal activities through its subsidiaries from offices located throughout Texas and Eastern New Mexico. Principal activities include commercial and retail banking, along with insurance, investment, trust, and mortgage services. The following are subsidiaries of SPFI:

Wholly Owned, Consolidated Subsidiaries:
City Bank	Bank subsidiary
Windmark Insurance Agency, Inc. ("Windmark")	Non-bank subsidiary
Ruidoso Retail, Inc.	Non-bank subsidiary
CB Provence, LLC	Non-bank subsidiary
CBT Brushy Creek, LLC	Non-bank subsidiary
CBT Properties, LLC	Non-bank subsidiary
Wholly Owned, Equity Method Subsidiaries:
South Plains Financial Capital Trusts (SPFCT) III-V	Non-bank subsidiaries

Basis of Presentation and Consolidation – The consolidated financial statements in this Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 (this “Form 10-Q”) include the accounts of SPFI and its wholly owned consolidated subsidiaries (collectively referred to as the “Company”) identified above. All significant intercompany balances and transactions have been eliminated in consolidation.

The interim consolidated financial statements in this Form 10-Q have not been audited by an independent registered public accounting firm, but in the opinion of management, reflect all adjustments necessary for a fair presentation of the Company’s financial position and results of operations. All such adjustments were of a normal and recurring nature. The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q adopted by the Securities and Exchange Commission (“SEC”). Accordingly, the financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the Company’s audited consolidated financial statements, and notes thereto in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Operating results for the interim periods disclosed herein are not necessarily indicative of the results that may be expected for a full year or any future period.

Use of Estimates – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Determination of the adequacy of the allowance for loan losses is a material estimate that is particularly susceptible to significant change in the near term; the assumptions used in stock-based compensation, the valuation of foreclosed assets, and fair values of financial instruments can also involve significant management estimates.

Loans – Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding principal balances net of any unearned income, charge-offs, unamortized deferred fees and costs on originated loans, and premiums or discounts on purchased loans. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the related loan yield using the straight-line method, which is not materially different from the effective interest method required by GAAP.

Loans are placed on nonaccrual status when, in management’s opinion, collection of interest is unlikely, which typically occurs when principal or interest payments are more than ninety days past due. When interest accrual is discontinued, all unpaid accrued interest is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

Allowance for Loan Losses – The allowance for loan losses is established by management as an estimate to cover probable credit losses through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The Company’s allowance for loan losses consists of specific valuation allowances established for probable losses on specific loans and general valuation allowances calculated based on historical loan loss experience for similar loans with similar characteristics and trends, judgmentally adjusted for general economic conditions and other qualitative risk factors internal and external to the Company.

The allowance for loan losses is evaluated on a quarterly basis by management and is based upon management’s review of the collectability of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral, and prevailing economic conditions. This evaluation is inherently subjective, as it requires estimates that are susceptible to significant revision as more information becomes available. The determination of the adequacy of the allowance for loan losses is based on estimates that are particularly susceptible to significant changes in the economic environment and market conditions. In connection with the determination of the estimated losses on loans, management obtains independent appraisals for significant collateral. Loans originated by the bank subsidiary are generally secured by specific items of collateral including real property, crops, livestock, consumer assets, and other business assets.

While management uses available information to recognize losses on loans, further reductions in the carrying amounts of loans may be necessary based on various factors. In addition, regulatory agencies, as an integral part of their examination process, periodically review the estimated losses on loans. Such agencies may require the bank subsidiary to recognize additional losses based on their judgments about information available to them at the time of their examination. Because of these factors, it is reasonably possible that the estimated losses on loans may change materially in the near term. However, the amount of the change that is reasonably possible cannot be estimated.

A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. All loans rated substandard or worse and greater than $250 thousand are specifically reviewed to determine if they are impaired. Factors considered by management in determining whether a loan is impaired include payment status and the sources, amounts, and probabilities of estimated cash flow available to service debt in relation to amounts due according to contractual terms. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed.

Loans that are determined to be impaired are then evaluated to determine estimated impairment, if any. GAAP allows impairment to be measured on a loan-by-loan basis by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. Loans that are not individually determined to be impaired or are not subject to the specific review of impaired status are subject to the general valuation allowance portion of the allowance for loan loss.

The Company may modify its loan agreement with a borrower. The modification will be considered a troubled debt restructuring (“TDR”) if the following criteria are met: (1) the borrower is experiencing a financial difficulty and (2) the Company makes a concession that it would not otherwise make. Concessions may include debt forgiveness, interest rate change, or maturity extension. Each of these loans is impaired and is evaluated for impairment, with a specific reserve recorded as necessary based on probable losses related to collateral and cash flow. A loan will no longer be required to be reported as restructured in calendar years following the restructure if the interest rate at the time of restructure is greater than or equal to the rate the Company was willing to accept for a new extension of credit with similar risk and the loan is in compliance with its modified terms.

Acquired Loans – Loans that the Company acquires in connection with business combinations are recorded at fair value with no carryover of the acquired entity’s related allowance for loan losses. The fair value of the acquired loans involves estimating the amount and timing of principal and interest cash flows expected to be collected on the loans and discounting those cash flows at a market rate of interest.

The excess of cash flows expected at acquisition over the estimated fair value is referred to as the accretable discount and is recognized into interest income over the remaining life of the loan. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the nonaccretable discount. These loans are accounted for under ASC 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality. The nonaccretable discount includes estimated future credit losses expected to be incurred over the life of the loan. Subsequent decreases to the expected cash flows will require the Company to evaluate the need for an additional allowance. Subsequent improvement in expected cash flows will result in the reversal of a corresponding amount of the nonaccretable discount which the Company will then reclassify as accretable discount that will be recognized into interest income over the remaining life of the loan.

Loans acquired through business combinations that meet the specific criteria of ASC 310-30 are individually evaluated each period to analyze expected cash flows. To the extent that the expected cash flows of a loan have decreased due to credit deterioration, the Company then establishes an allowance.

Loans acquired through business combinations that do not meet the specific criteria of ASC 310-30 are accounted for under ASC 310-20. These loans are initially recorded at fair value, and include credit and interest rate marks associated with acquisition accounting adjustments. Purchase premiums or discounts are subsequently amortized as an adjustment to yield over the estimated contractual lives of the loans. There is no allowance for loan losses established at the acquisition date for acquired performing loans. An allowance for loan losses is recorded for any credit deterioration in these loans subsequent to acquisition.

Acquired loans that met the criteria for impaired or nonaccrual of interest prior to the acquisition may be considered performing upon acquisition, regardless of whether the customer is contractually delinquent, if the Company expects to fully collect the new carrying value (i.e. fair value) of the loans. As such, the Company may no longer consider the loan to be nonaccrual or nonperforming at the date of acquisition and may accrue interest on these loans, including the impact of any accretable discount. In addition, charge-offs on such loans would be first applied to the nonaccretable difference portion of the fair value adjustment.

Goodwill and Other Intangible Assets – Goodwill resulting from business combinations is generally determined as the excess of the fair value of the consideration transferred over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill is not amortized, but is tested for impairment on October 31 each year or more frequently if events and circumstances exist that indicate that an impairment test should be performed. There was no impairment recorded for the three month period ended March 31, 2021 and the year ended December 31, 2020, respectively.

Core deposit intangible (“CDI”) is a measure of the value of checking and savings deposit relationships acquired in a business combination. The fair value of the CDI stemming from any given business combination is based on the present value of the expected cost savings attributable to the core deposit funding relative to an alternative source of funding. CDI is amortized over the estimated useful lives of the existing deposit relationships acquired, but does not exceed 10 years. Significantly all CDI is amortized using the sum of the years’ digits method.

The remaining other intangible assets consist of customer relationship and employment agreement intangible assets and are amortized over their estimated useful lives of 5 years.

Stock-Based Compensation – The Company sponsors an equity incentive plan under which options to acquire shares of the Company’s common stock may be granted periodically to all full-time employees and directors of the Company or its affiliates at a specific exercise price. Shares are issued out of authorized and unissued common shares that have been reserved for issuance under such plan. Compensation cost is measured based on the estimated fair value of the award at the grant date and is recognized in earnings on a straight-line basis over the requisite service period. The fair value of stock options is estimated at the date of grant using the Black-Scholes option pricing model. This model requires assumptions as to the expected stock volatility, dividends, terms and risk-free rates. The expected volatility is based on the combination of the Company’s historical volatility and the volatility of comparable peer banks. The expected term represents the period of time that options are expected to be outstanding from the grant date. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for the appropriate life of each stock option.

Recent Accounting Pronouncements – Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) constitutes GAAP for nongovernmental entities. Updates to ASC are prescribed in Accounting Standards Updates (“ASU”), which are not authoritative until incorporated into ASC.

ASU 2021-01, Reference Rate Reform (Topic 848). In January 2021, the FASB issued ASU No. 2021-01 to clarify the scope of Topic 848 so that derivatives affected by the discounting transition are explicitly eligible for certain optional expedients and exceptions in Topic 848. This update additionally clarified that a receive-variable-rate, pay-variable-rate cross-currency interest rate swap may be considered an eligible hedging instrument in a net investment hedge if both legs of the swap do not have the same repricing intervals and dates as a result of reference rate reform. This update was effective upon issuance and generally can be applied through December 31, 2022. See the discussion regarding the adoption of ASU 2020-04 below.

ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. In March 2020, the FASB issued ASU No. 2020-04 and it provides optional expedients and exceptions for accounting related to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. This update applies only to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform and do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The expedients and exceptions in this update are available to all entities starting March 12, 2020 through December 31, 2022. The adoption of ASU 2020-04 did not significantly impact the Company’s consolidated financial statements.

ASU 2019-12, Income Taxes, Simplifying the Accounting for Income Taxes (Topic 740). In December 2019, the FASB issued ASU 2019-12 to simplify the accounting for income taxes by removing certain exceptions to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition for deferred tax liabilities for outside basis differences. This update is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The adoption of ASU 2019-12 did not have a material effect on the Company’s financial statements.

ASU 2017-04, Intangibles - Goodwill and Other (Topic 350). This ASU simplifies the accounting for goodwill impairment for all entities by eliminating Step 2 from the current provisions. Under the new guidance, an entity should perform the goodwill impairment test by comparing the fair value of a reporting unit with its carrying value and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The Company elected to early adopt ASU 2017-04 on January 1, 2020, and it did not have a material impact on its financial statements.

ASU 2016-13 Financial Instruments - Credit Losses (Topic 326). The FASB issued guidance to replace the incurred loss model with an expected loss model, which is referred to as the current expected credit loss (“CECL”) model. The CECL model is applicable to the measurement of credit losses on financial assets measured at amortized cost, including loan receivables, held to maturity securities, and debt securities. ASU 2016-13 is effective for the Company for annual periods beginning after December 15, 2022, including interim periods within those fiscal years. Entities will apply the standard’s provisions as a cumulative-effect adjustment to retained earnings as of the beginning of the first reporting period in which the guidance is adopted. The Company is currently evaluating the impact adoption of ASU 2016-13 and the CECL methodology for estimating the allowance for credit losses will have on its consolidated operating results and financial condition.

ASU 2016-02 Leases (Topic 842). The FASB amended existing guidance that requires that lessees recognize lease assets and lease liabilities on the balance sheet and disclose key information about leasing arrangements. The Company is in the process of determining the effect of the standard on its consolidated operating results and financial condition. These amendments are effective for the Company for annual periods beginning after December 15, 2021 and interim periods beginning after December 15, 2022.

Subsequent Events – The Company has evaluated subsequent events and transactions from March 31, 2021 through the date this Form 10-Q was filed with the SEC for potential recognition or disclosure as required by GAAP and determined that there were no material subsequent events requiring recognition or disclosure.

SECURITIES

3 Months Ended

Mar. 31, 2021

SECURITIES [Abstract]

SECURITIES

2. SECURITIES

The amortized cost and fair value of securities, with gross unrealized gains and losses, at period-end follow:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
March 31, 2021
Available for sale:
U.S. government and agencies	$	—	$	—	$	—		$	—
State and municipal		263,102		6,506		(821	)		268,787
Mortgage-backed securities		355,867		6,172		(4,388	)		357,651
Collateralized mortgage obligations		107,077		—		(449	)		106,628
Asset-backed and other amortizing securities		30,566		1,347		—			31,913
Other securities		12,000		321		(92	)		12,229
	$	768,612	$	14,346	$	(5,750	)	$	777,208

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
December 31, 2020
Available for sale:
U.S. government and agencies	$	4,750	$	3	$	—		$	4,753
State and municipal		261,023		11,704		(120	)		272,607
Mortgage-backed securities		359,542		14,014		(194	)		373,362
Collateralized mortgage obligations		107,175		—		(460	)		106,715
Asset-backed and other amortizing securities		31,509		2,063		—			33,572
Other securities		12,000		91		(13	)		12,078
	$	775,999	$	27,875	$	(787	)	$	803,087

The amortized cost and fair value of securities at March 31, 2021 are presented below by contractual maturity. Expected maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations. Other securities are shown separately since they are not due at a single maturity date.

	Available for Sale
	Amortized Cost		Fair Value
Within 1 year	$	377	$	381
After 1 year through 5 years		4,595		4,864
After 5 years through 10 years		26,284		27,032
After 10 years		243,845		248,738
Other		493,511		496,193
	$	768,612	$	777,208

At both March 31, 2021 and December 31, 2020, there were no holdings of securities of any one issuer, other than the U.S. government and its agencies, in an amount greater than 10% of stockholders’ equity.

Securities with a carrying value of approximately $321.5 million and $292.2 million at March 31, 2021 and December 31, 2020, respectively, were pledged to collateralize public deposits and for other purposes as required or permitted by law.

The following table segregates securities with unrealized losses at the periods indicated, by the duration they have been in a loss position:

	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
March 31, 2021
U.S. government and agencies	$	—	$	—	$	—	$	—	$	—	$	—
State and municipal		64,700		821		—		—		64,700		821
Mortgage-backed securities		120,069		4,388		—		—		120,069		4,388
Collateralized mortgage obligations		106,629		449		—		—		106,629		449
Asset-backed and other amortizing securities		—		—		—		—		—		—
Other securities		6,408		92		—		—		6,408		92
	$	297,806	$	5,750	$	—	$	—	$	297,806	$	5,750

December 31, 2020
U.S. government and agencies	$	—	$	—	$	—	$	—	$	—	$	—
State and municipal		—		120		—		—		—		120
Mortgage-backed securities		93,482		194		—		—		93,482		194
Collateralized mortgage obligations		106,715		460		—		—		106,715		460
Asset-backed and other amortizing securities		—		—		—		—		—		—
Other securities		3,486		13		—		—		3,486		13
	$	203,683	$	787	$	—	$	—	$	203,683	$	787

There were 33 securities with an unrealized loss at March 31, 2021. Management does not believe that these losses are other than temporary as there is no intent to sell any of these securities before recovery and it is not probable that we will be required to sell any of these securities before recovery, and credit loss, if any, is not material. Any unrealized losses are largely due to increases in market interest rates over the yields available at the time the underlying securities were purchased. The fair value is expected to recover as the securities approach their maturity date or if market yields for such investments decline. Management does not believe any of the securities are impaired due to reasons of credit quality. Accordingly, as of March 31, 2021, management believes the impairments detailed in the table above are temporary and no impairment loss has been realized in the Company’s consolidated financial statements.

LOANS

3 Months Ended

Mar. 31, 2021

LOANS [Abstract]

LOANS

3. LOANS

Loans are summarized by category as of the periods presented below:

	March 31, 2021			December 31, 2020
Commercial real estate	$	673,985		$	663,344
Commercial - specialized		279,389			311,686
Commercial - general		531,303			518,309
Consumer:
1-4 family residential		362,571			360,315
Auto loans		219,977			205,840
Other consumer		67,644			67,595
Construction		107,807			94,494
		2,242,676			2,221,583
Allowance for loan losses		(45,019	)		(45,553	)
Loans, net	$	2,197,657		$	2,176,030

The Company has certain lending policies, underwriting standards, and procedures in place that are designed to maximize loan income with an acceptable level of risk. Management reviews and approves these policies, underwriting standards, and procedures on a regular basis and makes changes as appropriate. Management receives frequent reports related to loan originations, quality, concentrations, delinquencies, non-performing, and potential problem loans. Diversification in the loan portfolio is a means of managing risk associated with fluctuations in economic conditions, both by type of loan and geography.

Commercial – General and Specialized – Commercial loans are underwritten after evaluating and understanding the borrower’s ability to operate profitably. Underwriting standards have been designed to determine whether the borrower possesses sound business ethics and practices, evaluate current and projected cash flows to determine the ability of the borrower to repay their obligations, as agreed and ensure appropriate collateral is obtained to secure the loan. Commercial loans are primarily made based on the identified cash flows of the borrower and, secondarily, on the underlying collateral provided by the borrower. Most commercial loans are secured by the assets being financed or other business assets, such as real estate, accounts receivable, or inventory, and include personal guarantees. Owner-occupied real estate is included in commercial loans, as the repayment of these loans is generally dependent on the operations of the commercial borrower’s business rather than on income-producing properties or the sale of the properties. Commercial loans are grouped into two distinct sub-categories: specialized and general. Commercial related segments that are considered “specialized” include agricultural production and real estate loans, energy loans, and finance, investment, and insurance loans. Commercial related segments that contain a broader diversity of borrowers, sub-industries, or serviced industries are grouped into the “general category.” These include goods, services, restaurant & retail, construction, and other industries.

Commercial Real Estate – Commercial real estate loans are also subject to underwriting standards and processes similar to commercial loans. These loans are underwritten primarily based on projected cash flows for income-producing properties and collateral values for non-income-producing properties. The repayment of these loans is generally dependent on the successful operation of the property securing the loans or the sale or refinancing of the property. Real estate loans may be adversely affected by conditions in the real estate markets or in the general economy. The properties securing the Company’s real estate portfolio are diversified by type and geographic location. This diversity helps reduce the exposure to adverse economic events that affect any single market or industry.

Construction – Loans for residential construction are for single-family properties to developers, builders, or end-users. These loans are underwritten based on estimates of costs and completed value of the project. Funds are advanced based on estimated percentage of completion for the project. Performance of these loans is affected by economic conditions as well as the ability to control costs of the projects.

Consumer – Loans to consumers include 1-4 family residential loans, auto loans, and other loans for recreational vehicles or other purposes. The Company utilizes a computer-based credit scoring analysis to supplement its policies and procedures in underwriting consumer loans. The Company’s loan policy addresses types of consumer loans that may be originated and the collateral, if secured, which must be perfected. The relatively smaller individual dollar amounts of consumer loans that are spread over numerous individual borrowers also minimizes the Company’s risk. The Company generally requires mortgage title insurance and hazard insurance on 1-4 family residential loans.

The allowance for loan losses was $45.0 million at March 31, 2021, compared to $45.6 million at December 31, 2020. The allowance for loan losses to loans held for investment was 2.01% at March 31, 2021 and 2.05% at December 31, 2020.

The following table details the activity in the allowance for loan losses. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.

	Beginning Balance		Provision for Loan Losses			Charge-offs			Recoveries		Ending Balance
For the three months ended March 31, 2021
Commercial real estate	$	18,962	$	58		$	—		$	—	$	19,020
Commercial - specialized		5,760		(378	)		—			76		5,458
Commercial - general		9,227		52			(344	)		44		8,979
Consumer:
1-4 family residential		4,646		295			(52	)		1		4,890
Auto loans		4,226		(180	)		(188	)		33		3,891
Other consumer		1,671		4			(257	)		62		1,480
Construction		1,061		238			—			2		1,301
Total	$	45,553	$	89		$	(841	)	$	218	$	45,019

For the three months ended March 31, 2020
Commercial real estate	$	5,049	$	2,035		$	—		$	108	$	7,192
Commercial - specialized		2,287		2,218			(14	)		64		4,555
Commercial - general		9,609		(798	)		(848	)		17		7,980
Consumer:
1-4 family residential		2,093		651			—			—		2,744
Auto loans		3,385		1,316			(441	)		52		4,312
Other consumer		1,341		593			(367	)		72		1,639
Construction		433		219			—			—		652
Total	$	24,197	$	6,234		$	(1,670	)	$	313	$	29,074

The following table shows the Company’s investment in loans disaggregated based on the method of evaluating impairment:

	Recorded Investment				Allowance for Loan Losses
	Individually Evaluated		Collectively Evaluated		Individually Evaluated		Collectively Evaluated
March 31, 2021
Commercial real estate	$	6,217	$	667,768	$	580	$	18,440
Commercial - specialized		—		279,389		—		5,458
Commercial - general		4,540		526,763		834		8,145
Consumer:
1-4 family residential		1,852		360,719		—		4,890
Auto loans		—		219,977		—		3,891
Other consumer		—		67,644		—		1,480
Construction		—		107,807		—		1,301

Total	$	12,609	$	2,230,067	$	1,414	$	43,605

December 31, 2020
Commercial real estate	$	6,273	$	657,071	$	580	$	18,382
Commercial - specialized		—		311,686		—		5,760
Commercial - general		4,626		513,683		515		8,712
Consumer:
1-4 family residential		2,122		358,193		—		4,646
Auto loans		—		205,840		—		4,226
Other consumer		—		67,595		—		1,671
Construction		—		94,494		—		1,061

Total	$	13,021	$	2,208,562	$	1,095	$	44,458

Impaired loan information follows:

	Unpaid Contractual Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
March 31, 2021
Commercial real estate	$	6,217	$	3,617	$	2,600	$	6,217	$	580	$	6,245
Commercial - specialized		—		—		—		—		—		—
Commercial - general		4,540		277		4,263		4,540		834		4,583
Consumer:
1-4 family		2,271		1,852		—		1,852		—		1,987
Auto loans		—		—		—		—		—		—
Other consumer		—		—		—		—		—		—
Construction		—		—		—		—		—		—

Total	$	13,028	$	5,746	$	6,863	$	12,609	$	1,414	$	12,815

December 31, 2020
Commercial real estate	$	6,273	$	3,673	$	2,600	$	6,273	$	580	$	3,666
Commercial - specialized		—		—		—		—		—		673
Commercial - general		4,626		3,364		1,262		4,626		515		3,400
Consumer:
1-4 family		2,541		2,122		—		2,122		—		2,155
Auto loans		—		—		—		—		—		—
Other consumer		—		—		—		—		—		—
Construction		—		—		—		—		—		—

Total	$	13,440	$	9,159	$	3,862	$	13,021	$	1,095	$	9,894

All impaired loans $250 thousand and greater were specifically evaluated for impairment. Interest income recognized using a cash-basis method on impaired loans for the three-month period ended March 31, 2021 and the year ended December 31, 2020 was not significant. Additional funds committed to be advanced on impaired loans are not significant.

The table below provides an age analysis on accruing past-due loans and nonaccrual loans:

	30-89 Days Past Due		90 Days or More Past Due		Nonaccrual
March 31, 2021
Commercial real estate	$	4,157	$	—	$	6,251
Commercial - specialized		655		—		217
Commercial - general		215		45		5,109
Consumer:
1-4 Family residential		763		934		1,387
Auto loans		288		115		—
Other consumer		400		33		50
Construction		672		175		—

Total	$	7,150	$	1,302	$	13,014

December 31, 2020
Commercial real estate	$	914	$	34	$	6,311
Commercial - specialized		241		—		272
Commercial - general		1,891		149		5,489
Consumer:
1-4 Family residential		2,089		906		1,595
Auto loans		738		38		—
Other consumer		481		119		51
Construction		206		—		—

Total	$	6,560	$	1,246	$	13,718

The Company grades its loans on a thirteen-point grading scale. These grades fit in one of the following categories: (i) pass, (ii) special mention, (iii) substandard, (iv) doubtful, or (v) loss. Loans categorized as loss are charged-off immediately. The grading of loans reflect a judgment about the risks of default associated with the loan. The Company reviews the grades on loans as part of our on-going monitoring of the credit quality of our loan portfolio.

Pass loans have financial factors or nature of collateral that are considered reasonable credit risks in the normal course of lending and encompass several grades that are assigned based on varying levels of risk, ranging from credits that are secured by cash or marketable securities, to watch credits which have all the characteristics of an acceptable credit risk but warrant more than the normal level of monitoring.

Special mention loans have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of repayment prospects for the loans at some future date.

Substandard loans are inadequately protected by the current net worth and paying capacity of the borrower or by the collateral pledged, if any. These loans have a well-defined weakness or weaknesses that jeopardize collection and present the distinct possibility that some loss will be sustained if the deficiencies are not corrected. A protracted workout on these credits is a distinct possibility. Prompt corrective action is therefore required to strengthen the Company’s position, and/or to reduce exposure and to assure that adequate remedial measures are taken by the borrower. Credit exposure becomes more likely in such credits and a serious evaluation of the secondary support to the credit is performed. Substandard loans can be accruing or can be nonaccrual depending on the circumstances of the individual loans.

Doubtful loans have all the weaknesses inherent in substandard loans with the added characteristics that the weaknesses make collection or liquidation in full on the basis of currently existing facts, conditions, and values highly questionable and improbable. All doubtful loans are on nonaccrual.

The following table summarizes the internal classifications of loans:

	Pass		Special Mention		Substandard		Doubtful		Total
March 31, 2021
Commercial real estate	$	615,513	$	—	$	58,472	$	—	$	673,985
Commercial - specialized		271,286		—		8,103		—		279,389
Commercial - general		524,021		—		7,282		—		531,303
Consumer:
1-4 family residential		355,481		—		7,090		—		362,571
Auto loans		218,385		—		1,592		—		219,977
Other consumer		67,327		—		317		—		67,644
Construction		107,420		—		387		—		107,807

Total	$	2,159,433	$	—	$	83,243	$	—	$	2,242,676

December 31, 2020
Commercial real estate	$	602,250	$	—	$	61,094	$	—	$	663,344
Commercial - specialized		303,831		—		7,855		—		311,686
Commercial - general		510,543		—		7,766		—		518,309
Consumer:
1-4 family residential		352,930		—		7,385		—		360,315
Auto loans		204,301		—		1,539		—		205,840
Other consumer		67,216		—		379		—		67,595
Construction		94,494		—		—		—		94,494

Total	$	2,135,565	$	—	$	86,018	$	—	$	2,221,583

Under section 4013 of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), banks may elect to deem that loan modifications do not result in a classification as a TDR if they are (1) related to the COVID-19 pandemic; (2) executed on a loan that was not more than 30 days past due as of December 31, 2019; and (3) executed between March 1, 2020, and the earlier of (A) 60 days after the date of termination of the national emergency or (B) December 31, 2020. Under section 540 of the Consolidated Appropriations Act, 2021 (the “Act”), section 4013 of the CARES Act was amended. The period for loan modifications was extended to the earlier of (1) January 1, 2022, or (2) 60 days after the date of termination of the national emergency. The Company elected to adopt the provisions of the CARES Act and the Act.

Additionally, other short-term modifications made on a good faith basis in response to the COVID-19 pandemic to borrowers who were current prior to any relief are not TDRs under ASC Subtopic 310-40 and the interagency statement released by the federal banking regulators on April 7, 2020 in response to the COVID-19 pandemic (the “Joint Interagency Regulatory Guidance”). This includes short-term (e.g., up to six months) modifications such as payment deferrals, fee waivers, extensions of repayment terms, or delays in payment that are insignificant. Borrowers considered current are those that are less than 30 days past due on their contractual payments at the time a modification program is implemented.

In response to the COVID-19 pandemic, the Company implemented a short-term deferral modification program that complies with ASC Subtopic 310-40 and the Joint Interagency Regulatory Guidance. As of March 31, 2021, the Company had an outstanding principal balance of modified loans of $766 thousand in loans that comply with ASC Subtopic 310-40 and the Joint Interagency Regulatory Guidance. These modifications include: $508 thousand in six months of interest-only payments and $258 thousand in consumer one to four month payment deferrals. The total of all of these short-term modifications represented 0.03% of outstanding loans held for investment at March 31, 2021.

Beginning in April 2020, the Company began offering additional COVID-19 related deferral and modification of principal and/or interest payments to selected borrowers on a case-by-case basis that were outside the scope of the short-term deferral modification program. These additional modifications comply with the provisions of section 4013 of the CARES Act and section 501 of the Act. As of March 31, 2021, the Company had 9 loans totaling approximately $46.1 million subject to these deferral and modification agreements, representing 2.06% of outstanding loans held for investment.

There were no loans modified as a TDR during the three-month period ended March 31, 2021 and the year ended December 31, 2020.

GOODWILL AND INTANGIBLES

3 Months Ended

Mar. 31, 2021

GOODWILL AND INTANGIBLES [Abstract]

GOODWILL AND INTANGIBLES

4. GOODWILL AND INTANGIBLES

Goodwill and other intangible assets are summarized below:

	March 31, 2021			December 31, 2020
Beginning goodwill	$	19,508		$	18,757
Arising from business combinations		—			—
Measurement period acquisition adjustment		—			751
Ending goodwill	$	19,508		$	19,508

Amortized intangible assets
Customer relationship intangibles	$	6,679		$	6,679
Less: Accumulated amortization		(1,670	)		(1,396	)
		5,009			5,283

Other intangibles		2,972			2,309
Arising from business combinations		—			663
Less: Accumulated amortization		(841	)		(693	)
		2,131			2,279
Other intangible assets, net	$	7,140		$	7,562

BORROWING ARRANGEMENTS	3 Months Ended
BORROWING ARRANGEMENTS	Mar. 31, 2021
BORROWING ARRANGEMENTS [Abstract]
BORROWING ARRANGEMENTS	5. BORROWING ARRANGEMENTS Subordinated Debt Securities In December 2018, the Company issued $26.5 million in subordinated debt securities. $12.4 million of the securities have a maturity date of December 2028 and an average fixed rate of 5.74% for the first five years. The remaining $14.1 million of securities have a maturity date of December 2030 and an average fixed rate of 6.41% for the first seven years. After the expiration of the fixed rate periods, all securities will float at the Wall Street Journal prime rate, with a floor of 4.5% and a ceiling of 7.5%. These securities pay interest quarterly, are unsecured, and may be called by the Company at any time after the remaining maturity is five years or less. Additionally, these securities qualify for Tier 2 capital treatment, subject to regulatory limitations. On September 29, 2020, the Company issued $50.0 million in subordinated debt securities. Proceeds were reduced by approximately $926 thousand in debt issuance costs. The securities have a maturity date of September 2030 with a fixed rate of 4.50% for the first five years. After the expiration of the fixed rate period, the securities will reset quarterly at a variable rate equal to the then current three-month Secured Overnight Financing Rate, as published by the Federal Reserve Bank of New York, plus 438 basis points. These securities pay interest semi-annually, are unsecured, and may be called by the Company at any time after the remaining maturity is five years or less. Additionally, these securities qualify for Tier 2 capital treatment, subject to regulatory limitations. As of March 31, 2021, the total amount of subordinated debt securities outstanding was $76.5 million less approximately $837 thousand of remaining debt issuance costs for a total balance of $75.6 million. Notes Payable and Other Borrowings At December 31, 2020, City Bank had three advances from the Federal Home Loan Bank of Dallas (“FHLB”) totaling $75.0 million. Advances are collateralized through the line of credit with FHLB with interest payable monthly and principal due at maturity. In March 2021, City Bank repaid two of the advances for a total of $50 million. There was one advance for $25.0 million outstanding as of March 31, 2020.

STOCK-BASED COMPENSATION

3 Months Ended

Mar. 31, 2021

STOCK-BASED COMPENSATION [Abstract]

STOCK-BASED COMPENSATION

6. STOCK-BASED COMPENSATION

Equity Incentive Plan

The 2019 Equity Incentive Plan (“Plan”) was approved by the Company’s Board of Directors on January 16, 2019 and by its shareholders on March 6, 2019. The purpose of the Plan is to: (i) attract and retain the best available personnel for positions of substantial responsibility, (ii) provide additional incentive to employees, directors and consultants, and (iii) promote the success of the Company’s business. This Plan permits the grant of incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock, restricted stock units, performance units, performance shares, and other stock-based awards. The maximum aggregate number of shares of common stock that may be issued pursuant to all awards under the Plan is 2,300,000. The maximum aggregate number of shares that may be issued under the Plan may be increased annually by up to 3% of the total issued and outstanding common shares of the Company at the beginning of each fiscal year.

The fair value of each option award under the Plan is estimated on the date of grant using a closed form option valuation (“Black-Scholes”) model that uses the assumptions noted in the table below. Expected volatilities are based on historical volatilities of the Company’s common stock and similar peer company averages. The Company uses historical data to estimate option exercise and post-vesting termination behavior. The expected term of options granted represents the period of time that options granted are expected to be outstanding, which takes in to account that the options are not transferable. The risk-free interest rate for the expected term of the option is based on U.S. Treasury yield curve in effect at the time of the grant.

Options

A summary of activity in the Plan is presented in the table below:

	Number of Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Three Months Ended March 31, 2021
Outstanding at beginning of year:		1,554,894		$	14.77			$	12,360
Granted		214,452			19.46				699
Exercised		(1,357	)		16.00				(9	)
Forfeited		—			—				—
Expired		—			—				—

Balance, March 31, 2021		1,767,989		$	15.34		6.23	$	13,050

Exercisable at end of period		1,109,247		$	13.11		5.41	$	10,656

Vested at end of period		1,109,247		$	13.11		5.41	$	10,656

A summary of assumptions used to calculate the fair values of the awards granted during the periods noted is presented below:

	Three Months Ended March 31,
	2021			2020
Expected volatility	41.20% to 41.32%				27.46	%
Expected dividend yield		1.00	%		0.70	%
Expected term (years)	6.1 to 6.2 years			6.0 to 6.2 years
Risk-free interest rate	0.52% to 0.83%				1.44	%
Weighted average grant date fair value	$	7.07		$	5.68

The total intrinsic value of options exercised during the three months ended March 31, 2021 and March 31, 2020 was $9 thousand and $4 thousand, respectively.

Restricted Stock Units

A summary of activity in the Plan is presented in the table below:

	Number of Shares			Weighted-Average Grant Date Fair Value
Three Months Ended March 31, 2021
Outstanding at beginning of year:		62,476		$	19.47
Granted		6,370			19.62
Vested		(24,805	)		19.70
Forfeited		—			—

Balance, March 31, 2021		44,041		$	19.36

Restricted stock units granted under the Plan typically vest over four years, but vesting periods may vary. Compensation expense for these grants will be recognized over the vesting period of the awards based on the fair value of the stock at the issue date.

The total unrecognized compensation cost for the awards outstanding under the Plan at March 31, 2021 was $4.0 million and will be recognized over a weighted average remaining period of 1.78 years. The total fair value of restricted stock units vested during each of the three months ended March 31, 2021 and March 31, 2020 was $489 thousand.

COMMITMENTS AND CONTINGENCIES

3 Months Ended

Mar. 31, 2021

COMMITMENTS AND CONTINGENCIES [Abstract]

COMMITMENTS AND CONTINGENCIES

7. COMMITMENTS AND CONTINGENCIES

Financial instruments with off-balance-sheet risk - The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to extend credit and standby letters of credit. Such commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the Company’s consolidated financial statements. The Company’s exposure to credit loss is represented by the contractual amount of these commitments. The Company follows the same credit policies in making commitments as it does for recorded instruments.

Financial instruments whose contract amounts represent credit risk outstanding follow:

	March 31, 2021		December 31, 2020
Commitments to grant loans and unfunded commitments under lines of credit	$	512,160	$	417,798
Standby letters of credit		8,819		10,481

Commitments to grant loans and extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. The commitments for lines of credit may expire without being drawn upon. Therefore, the total commitment amounts do not necessarily represent future cash requirements. The amount of collateral obtained, if it is deemed necessary by the Company, is based on management’s credit evaluation of the customer.

Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Those letters of credit are primarily issued to support public and private borrowing arrangements. Essentially all letters of credit issued have expiration dates within one year. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. The Company requires collateral supporting those commitments if deemed necessary.

Litigation - The Company is a defendant in legal actions arising from time to time in the ordinary course of business. Management believes that the aggregate ultimate liability, if any, arising from these matters will not materially affect the Company’s consolidated financial statements.

FHLB Letters of Credit - The Company uses FHLB letters of credit to pledge to certain public deposits. The balance of these FHLB letters of credit was $199.0 million at both March 31, 2021 and December 31, 2020.

CAPITAL AND REGULATORY MATTERS

3 Months Ended

Mar. 31, 2021

CAPITAL AND REGULATORY MATTERS [Abstract]

CAPITAL AND REGULATORY MATTERS

8. CAPITAL AND REGULATORY MATTERS

The Company and its bank subsidiary are subject to various regulatory capital requirements administered by its banking regulators. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s and its bank subsidiary’s financial statements. Under capital guidelines and the regulatory framework for prompt corrective action, the Company and its bank subsidiary must meet specific capital guidelines that involve quantitative measures of their assets, liabilities, and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Prompt corrective action provisions are not applicable to bank holding companies.

In July 2013, the Board of Governors of the Federal Reserve System published final rules for the adoption of the Basel III regulatory capital framework (“Basel III”). Basel III, among other things, (i) introduced a new capital measure called Common Equity Tier 1 (“CET1”), (ii) specified that Tier 1 capital consists of CET1 and Additional Tier 1 Capital instruments meeting specified requirements, (iii) defined CET1 narrowly by requiring that most deductions/adjustments to regulatory capital measures be made to CET1 and not to the other components of capital and (iv) expanded the scope of the deductions/adjustments as compared to existing regulations. Basel III became effective for the Company and its bank subsidiary on January 1, 2016 with certain transition provisions fully phased-in on January 1, 2019.

Quantitative measures established by regulation to ensure capital adequacy require the Company and its bank subsidiary to maintain minimum amounts and ratios (set forth in the following table) of total, Tier 1 and CET1 capital (as defined in the regulations) to risk-weighted assets (as defined) and of Tier 1 capital (as defined) to average assets (as defined). Management believes, as of March 31, 2021 and December 31, 2020, that the Company and its bank subsidiary met all capital adequacy requirements to which they are subject.

As of March 31, 2021, the bank subsidiary was well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, an institution must maintain minimum total risk-based, Tier 1 risk-based, CET1 and Tier 1 leverage ratios as set forth in the following tables. There are no conditions or events since March 31, 2021 that management believes have changed the bank subsidiary’s category.

The Company and its bank subsidiary’s actual capital amounts and ratios follow:

	Actual					Minimum Required Under BASEL III Fully Phased-In					To Be Well Capitalized Under Prompt Corrective Action Provisions
	Amount		Ratio			Amount		Ratio			Amount		Ratio
March 31, 2021
Total Capital to Risk Weighted Assets:
Consolidated	$	488,339		19.24	%	$	266,458		10.50	%		N/A		N/A
City Bank		408,927		16.12	%		266,391		10.50	%	$	253,706		10.00	%

Tier I Capital to Risk Weighted Assets:
Consolidated		380,816		15.01	%		215,704		8.50	%		N/A		N/A
City Bank		377,048		14.86	%		215,650		8.50	%		202,965		8.00	%

Common Equity Tier 1 to Risk Weighted Assets:
Consolidated		335,816		13.23	%		177,639		7.00	%		N/A		N/A
City Bank		377,048		14.86	%		177,594		7.00	%		164,909		6.50	%

Tier I Capital to Average Assets:
Consolidated		380,816		10.35	%		148,206		4.00	%		N/A		N/A
City Bank		377,048		10.26	%		102,960		4.00	%		183,826		5.00	%

December 31, 2020
Total Capital to Risk Weighted Assets:
Consolidated	$	473,425		19.08	%	$	260,531		10.50	%		N/A		N/A
City Bank		404,138		16.29	%		260,481		10.50	%	$	248,077		10.00	%

Tier I Capital to Risk Weighted Assets:
Consolidated		366,639		14.78	%		210,906		8.50	%		N/A		N/A
City Bank		372,947		15.03	%		210,866		8.50	%		198,462		8.00	%

Common Equity Tier 1 to Risk Weighted Assets:
Consolidated		321,639		12.96	%		173,688		7.00	%		N/A		N/A
City Bank		372,947		15.03	%		173,654		7.00	%		161,250		6.50	%

Tier I Capital to Average Assets:
Consolidated		366,639		10.24	%		144,347		4.00	%		N/A		N/A
City Bank		372,947		10.42	%		144,282		4.00	%		178,999		5.00	%

State banking regulations place certain restrictions on dividends paid by banks to their shareholders. Dividends paid by the Company’s bank subsidiary would be prohibited if the effect thereof would cause the bank subsidiary’s capital to be reduced below applicable minimum capital requirements.

- Definition

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

+ References + Details

DERIVATIVES

3 Months Ended

Mar. 31, 2021

DERIVATIVES [Abstract]

DERIVATIVES

9. DERIVATIVES

The Company utilizes interest rate and cash flow swap agreements as part of its asset-liability management strategy to help manage its interest rate and cash flow risk position. The notional amount of the interest rate and cash flow swaps do not represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amounts and the other terms of the individual interest rate and cash flow swap agreements.

The following table reflects the fair value hedges included in the consolidated balance sheets:

	March 31, 2021				December 31, 2020
	Notional Amount		Fair Value		Notional Amount		Fair Value

Included in other liabilities:
Interest rate swaps related to fixed rate loans	$	10,077	$	617	$	10,178	$	927

Included in other assets:
Interest rate swaps related to fixed rate loans	$	—	$	—	$	—	$	—

The following table reflects the cash flow hedges included in the consolidated balance sheets:

	March 31, 2021				December 31, 2020
	Notional Amount		Fair Value		Notional Amount		Fair Value

Included in other liabilities:
Cash flow swaps related to state and municipal securities	$	—	$	—	$	68,485	$	1,643

Included in other assets:
Cash flow swaps related to state and municipal securities	$	123,760	$	6,781	$	55,275	$	1,618

Mortgage banking derivatives

The following table reflects the amount and fair value of mortgage banking derivatives in the consolidated balance sheets:

	March 31, 2021				December 31, 2020
	Notional Amount		Fair Value		Notional Amount		Fair Value

Included in other assets:
Forward contracts related to mortgage loans held for sale	$	—	$	—	$	—	$	—
Interest rate lock commitments		214,670		6,204		210,716		5,115

Total included in other assets	$	214,670	$	6,204	$	210,716	$	5,115

Included in other liabilities:
Forward contracts related to mortgage loans held for sale	$	202,497	$	1,888	$	203,669	$	1,787
Interest rate lock commitments		—		—		—		—

Total included in other liabilities	$	202,497	$	1,888	$	203,669	$	1,787

The Company had received cash collateral of $5.5 million to offset asset derivative positions on its securities cash flow hedges at March 31, 2021. This amount is reported in other liabilities in the consolidated balance sheets. The Company had advanced $1.1 million to offset liability positions on its interest rate swaps at March 31, 2021. Additionally, the Company had advanced $440 thousand on its mortgage forward contracts at March 31, 2021. The advanced cash collateral amounts are reported in other assets in the consolidated balance sheets.

EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2021

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

10. EARNINGS PER SHARE

The factors used in the earnings per share computation follow:

	Three Months Ended March 31,
	2021		2020
Net income	$	15,160	$	7,083

Weighted average common shares outstanding - basic		18,069,186		18,043,105
Effect of dilutive securities:
Stock-based compensation awards		441,934		418,817
Weighted average common shares outstanding - diluted		18,511,120		18,461,922

Basic earnings per share	$	0.84	$	0.39
Diluted earnings per share	$	0.82	$	0.38

SEGMENT INFORMATION

3 Months Ended

Mar. 31, 2021

SEGMENT INFORMATION [Abstract]

SEGMENT INFORMATION

11. SEGMENT INFORMATION

Financial results by reportable segment are detailed below:

Three Months Ended March 31, 2021	Banking			Insurance			Consolidated
Net interest income	$	29,544		$	—		$	29,544
Provision for loan loss		(89	)		—			(89	)
Noninterest income		25,417			1,083			26,500
Noninterest expense		(35,955	)		(1,102	)		(37,057	)

Income before income taxes		18,917			(19	)		18,898

Income tax (expense) benefit		(3,741	)		3			(3,738	)

Net income (loss)	$	15,176		$	(16	)	$	15,160

Three Months Ended March 31, 2020	Banking			Insurance			Consolidated
Net interest income	$	30,199		$	—		$	30,199
Provision for loan loss		(6,234	)		—			(6,234	)
Noninterest income		17,761			1,114			18,875
Noninterest expense		(32,831	)		(1,180	)		(34,011	)

Income before income taxes		8,895			(66	)		8,829

Income tax (expense) benefit		(1,758	)		12			(1,746	)

Net income (loss)	$	7,137		$	(54	)	$	7,083

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/topic&trid=2134510

+ Details

FAIR VALUE DISCLOSURES

3 Months Ended

Mar. 31, 2021

FAIR VALUE DISCLOSURES [Abstract]

FAIR VALUE DISCLOSURES

12. FAIR VALUE DISCLOSURES

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The price in the principal (or most advantageous) market used to measure the fair value of the asset or liability is not adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact.

Valuation techniques that are consistent with the market approach, the income approach and/or the cost approach are required by GAAP. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset. Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources, or unobservable, meaning those that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The fair value hierarchy for valuation inputs gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows:

●

Level 1 Inputs - Unadjusted quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

●

Level 2 Inputs - Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These might include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the asset or liability (such as interest rates, volatilities, prepayment speeds, credit risks, etc.) or inputs that are derived principally from or corroborated by market data by correlation or other means.

●

Level 3 Inputs - Unobservable inputs for determining the fair values of assets or liabilities that reflect an entity’s own assumptions about the assumptions that market participants would use in pricing the assets or liabilities.

The following table summarizes fair value measurements:

	Level 1		Level 2			Level 3		Total
March 31, 2021
Assets (liabilities) measured at fair value on a recurring basis:
Securities available for sale:
U.S. government and agencies	$	—	$	—		$	—	$	—
State and municipal		—		268,787			—		268,787
Mortgage-backed securities		—		357,651			—		357,651
Collateralized mortgage obligations		—		106,628			—		106,628
Asset-backed and other amortizing securities		—		31,913			—		31,913
Other securities		—		12,229			—		12,229
Loans held for sale (mandatory)		—		83,882			—		83,882
Mortgage servicing rights		—		—			13,558		13,558
Asset derivatives		—		12,985			—		12,985
Liability derivatives		—		(2,505	)		—		(2,505	)

Assets measured at fair value on a non-recurring basis:
Impaired loans		—		—			11,195		11,195
Other real estate owned		—		—			1,377		1,377

December 31, 2020
Assets (liabilities) measured at fair value on a recurring basis:
Securities available for sale:
U.S. government and agencies	$	—	$	4,753		$	—	$	4,753
State and municipal		—		272,607			—		272,607
Mortgage-backed securities		—		373,362			—		373,362
Collateralized mortgage obligations		—		106,715			—		106,715
Asset-backed and other amortizing securities		—		33,572			—		33,572
Other securities		—		12,078			—		12,078
Loans held for sale (mandatory)		—		80,174			—		80,174
Mortgage servicing rights		—		—			9,049		9,049
Asset derivatives		—		6,734			—		6,734
Liability derivatives		—		(4,357	)		—		(4,357	)

Assets measured at fair value on a non-recurring basis:
Impaired loans		—		—			11,926		11,926
Other real estate owned		—		—			1,353		1,353

Securities – Securities are carried at fair value. When available, fair value is based on quoted prices for the identical security in an active market and as such, would be classified as Level 1. If quoted market prices are not available, fair values are calculated based on market prices of similar securities using matrix pricing. Matrix pricing is a mathematical technique commonly used to price debt securities that are not actively traded. Securities for which Level 1 valuations are not available are classified as Level 2.

Loans held for sale (mandatory) – Loans held for sale originated for mandatory delivery are reported at fair value. Fair value is determined using quoted prices for similar assets, adjusted for specific attributes of that loan.

Mortgage servicing rights – Mortgage servicing rights are reported at fair value. Fair value is based on market prices for comparable mortgage servicing contracts.

Derivatives – Fair value of derivatives is based on valuation models using observable market data as of the measurement date.

Impaired loans – Impaired loans are reported at the fair value of the underlying collateral, less estimated disposal costs, if repayment is expected solely from the sale of the collateral. Collateral values are estimated using Level 2 inputs based on observable market data or Level 3 inputs based on customized discounting criteria.

Foreclosed assets – Foreclosed assets are transferred from loans at the lower of cost or fair value, less estimated costs to sell. Collateral values are estimated using Level 2 inputs based on observable market data or Level 3 inputs based on customized discounting criteria.

Loans held for sale (best efforts) – Loans held for sale originated for best efforts delivery are reported at fair value if, on an aggregate basis, the fair value for the loans is less than cost. In determining whether the fair value of loans held for sale is less than cost when quoted market prices are not available, the Company may consider outstanding investor commitments or discounted cash flow analyses with market assumptions. Such fair values are classified within either Level 2 or Level 3 of the fair value hierarchy.

The following table presents quantitative information about non-recurring Level 3 fair value measurements:

	Fair Value		Valuation Techniques		Unobservable Inputs		Range of Discounts
March 31, 2021				12		12
Impaired loans	$	11,195	Third party appraisals or inspections		Collateral discounts and selling costs			0%-100	%
Other real estate owned		1,377	Third party appraisals or inspections		Collateral discounts and selling costs			15%-66	%
Mortgage servicing rights		13,558	Discounted cash flows		Conditional prepayment rate			5.78	%
					Discount rate			9.68	%

December 31, 2020
Impaired loans	$	11,926	Third party appraisals or inspections		Collateral discounts and selling costs			0%-100	%
Other real estate owned		1,353	Third party appraisals or inspections		Collateral discounts and selling costs			15%-66	%
Mortgage servicing rights		9,049	Discounted cash flows		Conditional prepayment rate			4.48	%
					Discount rate			9.72	%

The estimated fair values, and related carrying amounts, of the Company’s financial instruments are as follows:

	Carrying Amount		Level 1		Level 2		Level 3		Total Fair Value

March 31, 2021
Financial assets:
Cash and cash equivalents	$	413,406	$	413,406	$	—	$	—	$	413,406
Loans, net		2,197,657		—		—		2,200,173		2,200,173
Accrued interest receivable		11,277		—		11,277		—		11,277
Bank-owned life insurance		71,061		—		71,061		—		71,061

Financial liabilities:
Deposits	$	3,155,632	$	2,974,868	$	183,282	$	—	$	3,158,150
Accrued interest payable		1,480		—		1,480		—		1,480
Notes payable & other borrowings		25,000		—		25,000		—		25,000
Junior subordinated deferrable interest debentures		46,393		—		45,690		—		45,690
Subordinated debt securities		75,635		—		77,799		—		77,799

	Carrying Amount		Level 1		Level 2		Level 3		Total Fair Value

December 31, 2020
Financial assets:
Cash and cash equivalents	$	300,307	$	300,307	$	—	$	—	$	300,307
Loans, net		2,176,030		—		—		2,179,573		2,179,573
Accrued interest receivable		15,233		—		15,233		—		15,233
Bank-owned life insurance		70,731		—		70,731		—		70,731

Financial liabilities:
Deposits	$	2,974,351	$	2,649,830	$	329,609	$	—	$	2,979,439
Accrued interest payable		2,113		—		2,113		—		2,113
Notes payable & other borrowings		75,000		—		75,000		—		75,000
Junior subordinated deferrable interest debentures		46,393		—		45,690		—		45,690
Subordinated debt securities		75,589		—		76,889		—		76,889

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

BUSINESS COMBINATIONS

3 Months Ended

Mar. 31, 2021

BUSINESS COMBINATIONS [Abstract]

BUSINESS COMBINATIONS

13. BUSINESS COMBINATIONS

In June 2020, Windmark acquired the operating assets of a crop insurance agency in Nebraska for $687 thousand. Fair value of the assets acquired in this transaction as of the closing date are as follows:

Cash paid	$	687

Assets acquired:
Premises and equipment, net	$	24
Customer list		512
Other intangible assets		151
Total assets acquired	$	687

The Company is still evaluating the fair values of other assets and other liabilities, additional adjustments may be recorded during the measurement period, but no later than one year from the closing date of the transaction. The Company will reflect measurement period adjustments, if any, in the period in which the adjustments are recognized, which may result in further adjustments to the values presented in the above table. The Company expects to finalize these values by June 30, 2021.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

Mar. 31, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Nature of Operations

Wholly Owned, Consolidated Subsidiaries:
City Bank	Bank subsidiary
Windmark Insurance Agency, Inc. ("Windmark")	Non-bank subsidiary
Ruidoso Retail, Inc.	Non-bank subsidiary
CB Provence, LLC	Non-bank subsidiary
CBT Brushy Creek, LLC	Non-bank subsidiary
CBT Properties, LLC	Non-bank subsidiary
Wholly Owned, Equity Method Subsidiaries:
South Plains Financial Capital Trusts (SPFCT) III-V	Non-bank subsidiaries

Consolidation

Basis of Presentation

Use of Estimates

Loans

Allowance for Loan Losses

Acquired Loans

Goodwill and Other Intangible Assets

The remaining other intangible assets consist of customer relationship and employment agreement intangible assets and are amortized over their estimated useful lives of 5 years.

Stock-Based Compensation

Recent Accounting Pronouncements

Subsequent Events

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Subsidiaries Information

Wholly Owned, Consolidated Subsidiaries:
City Bank	Bank subsidiary
Windmark Insurance Agency, Inc. ("Windmark")	Non-bank subsidiary
Ruidoso Retail, Inc.	Non-bank subsidiary
CB Provence, LLC	Non-bank subsidiary
CBT Brushy Creek, LLC	Non-bank subsidiary
CBT Properties, LLC	Non-bank subsidiary
Wholly Owned, Equity Method Subsidiaries:
South Plains Financial Capital Trusts (SPFCT) III-V	Non-bank subsidiaries

SECURITIES (Tables)

3 Months Ended

Mar. 31, 2021

SECURITIES [Abstract]

Amortized Cost and Fair Value of Securities, with Gross Unrealized Gains and Losses

The amortized cost and fair value of securities, with gross unrealized gains and losses, at period-end follow:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
March 31, 2021
Available for sale:
U.S. government and agencies	$	—	$	—	$	—		$	—
State and municipal		263,102		6,506		(821	)		268,787
Mortgage-backed securities		355,867		6,172		(4,388	)		357,651
Collateralized mortgage obligations		107,077		—		(449	)		106,628
Asset-backed and other amortizing securities		30,566		1,347		—			31,913
Other securities		12,000		321		(92	)		12,229
	$	768,612	$	14,346	$	(5,750	)	$	777,208

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
December 31, 2020
Available for sale:
U.S. government and agencies	$	4,750	$	3	$	—		$	4,753
State and municipal		261,023		11,704		(120	)		272,607
Mortgage-backed securities		359,542		14,014		(194	)		373,362
Collateralized mortgage obligations		107,175		—		(460	)		106,715
Asset-backed and other amortizing securities		31,509		2,063		—			33,572
Other securities		12,000		91		(13	)		12,078
	$	775,999	$	27,875	$	(787	)	$	803,087

Amortized Cost and Fair Value of Securities by Contractual Maturity

	Available for Sale
	Amortized Cost		Fair Value
Within 1 year	$	377	$	381
After 1 year through 5 years		4,595		4,864
After 5 years through 10 years		26,284		27,032
After 10 years		243,845		248,738
Other		493,511		496,193
	$	768,612	$	777,208

Securities with Unrealized Losses Segregated by the Period in a Loss Position

The following table segregates securities with unrealized losses at the periods indicated, by the duration they have been in a loss position:

	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
March 31, 2021
U.S. government and agencies	$	—	$	—	$	—	$	—	$	—	$	—
State and municipal		64,700		821		—		—		64,700		821
Mortgage-backed securities		120,069		4,388		—		—		120,069		4,388
Collateralized mortgage obligations		106,629		449		—		—		106,629		449
Asset-backed and other amortizing securities		—		—		—		—		—		—
Other securities		6,408		92		—		—		6,408		92
	$	297,806	$	5,750	$	—	$	—	$	297,806	$	5,750

December 31, 2020
U.S. government and agencies	$	—	$	—	$	—	$	—	$	—	$	—
State and municipal		—		120		—		—		—		120
Mortgage-backed securities		93,482		194		—		—		93,482		194
Collateralized mortgage obligations		106,715		460		—		—		106,715		460
Asset-backed and other amortizing securities		—		—		—		—		—		—
Other securities		3,486		13		—		—		3,486		13
	$	203,683	$	787	$	—	$	—	$	203,683	$	787

LOANS (Tables)

3 Months Ended

Mar. 31, 2021

LOANS [Abstract]

Summary of Loans by Category

Loans are summarized by category as of the periods presented below:

	March 31, 2021			December 31, 2020
Commercial real estate	$	673,985		$	663,344
Commercial - specialized		279,389			311,686
Commercial - general		531,303			518,309
Consumer:
1-4 family residential		362,571			360,315
Auto loans		219,977			205,840
Other consumer		67,644			67,595
Construction		107,807			94,494
		2,242,676			2,221,583
Allowance for loan losses		(45,019	)		(45,553	)
Loans, net	$	2,197,657		$	2,176,030

Activity in Allowance for Loan Losses and Investment in Loans Disaggregated Based on Method of Evaluating Impairment

	Beginning Balance		Provision for Loan Losses			Charge-offs			Recoveries		Ending Balance
For the three months ended March 31, 2021
Commercial real estate	$	18,962	$	58		$	—		$	—	$	19,020
Commercial - specialized		5,760		(378	)		—			76		5,458
Commercial - general		9,227		52			(344	)		44		8,979
Consumer:
1-4 family residential		4,646		295			(52	)		1		4,890
Auto loans		4,226		(180	)		(188	)		33		3,891
Other consumer		1,671		4			(257	)		62		1,480
Construction		1,061		238			—			2		1,301
Total	$	45,553	$	89		$	(841	)	$	218	$	45,019

For the three months ended March 31, 2020
Commercial real estate	$	5,049	$	2,035		$	—		$	108	$	7,192
Commercial - specialized		2,287		2,218			(14	)		64		4,555
Commercial - general		9,609		(798	)		(848	)		17		7,980
Consumer:
1-4 family residential		2,093		651			—			—		2,744
Auto loans		3,385		1,316			(441	)		52		4,312
Other consumer		1,341		593			(367	)		72		1,639
Construction		433		219			—			—		652
Total	$	24,197	$	6,234		$	(1,670	)	$	313	$	29,074

The following table shows the Company’s investment in loans disaggregated based on the method of evaluating impairment:

	Recorded Investment				Allowance for Loan Losses
	Individually Evaluated		Collectively Evaluated		Individually Evaluated		Collectively Evaluated
March 31, 2021
Commercial real estate	$	6,217	$	667,768	$	580	$	18,440
Commercial - specialized		—		279,389		—		5,458
Commercial - general		4,540		526,763		834		8,145
Consumer:
1-4 family residential		1,852		360,719		—		4,890
Auto loans		—		219,977		—		3,891
Other consumer		—		67,644		—		1,480
Construction		—		107,807		—		1,301

Total	$	12,609	$	2,230,067	$	1,414	$	43,605

December 31, 2020
Commercial real estate	$	6,273	$	657,071	$	580	$	18,382
Commercial - specialized		—		311,686		—		5,760
Commercial - general		4,626		513,683		515		8,712
Consumer:
1-4 family residential		2,122		358,193		—		4,646
Auto loans		—		205,840		—		4,226
Other consumer		—		67,595		—		1,671
Construction		—		94,494		—		1,061

Total	$	13,021	$	2,208,562	$	1,095	$	44,458

Impaired Loan Information

Impaired loan information follows:

	Unpaid Contractual Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
March 31, 2021
Commercial real estate	$	6,217	$	3,617	$	2,600	$	6,217	$	580	$	6,245
Commercial - specialized		—		—		—		—		—		—
Commercial - general		4,540		277		4,263		4,540		834		4,583
Consumer:
1-4 family		2,271		1,852		—		1,852		—		1,987
Auto loans		—		—		—		—		—		—
Other consumer		—		—		—		—		—		—
Construction		—		—		—		—		—		—

Total	$	13,028	$	5,746	$	6,863	$	12,609	$	1,414	$	12,815

December 31, 2020
Commercial real estate	$	6,273	$	3,673	$	2,600	$	6,273	$	580	$	3,666
Commercial - specialized		—		—		—		—		—		673
Commercial - general		4,626		3,364		1,262		4,626		515		3,400
Consumer:
1-4 family		2,541		2,122		—		2,122		—		2,155
Auto loans		—		—		—		—		—		—
Other consumer		—		—		—		—		—		—
Construction		—		—		—		—		—		—

Total	$	13,440	$	9,159	$	3,862	$	13,021	$	1,095	$	9,894

Age Analysis on Accruing Past-due Loans and Nonaccrual Loans

The table below provides an age analysis on accruing past-due loans and nonaccrual loans:

	30-89 Days Past Due		90 Days or More Past Due		Nonaccrual
March 31, 2021
Commercial real estate	$	4,157	$	—	$	6,251
Commercial - specialized		655		—		217
Commercial - general		215		45		5,109
Consumer:
1-4 Family residential		763		934		1,387
Auto loans		288		115		—
Other consumer		400		33		50
Construction		672		175		—

Total	$	7,150	$	1,302	$	13,014

December 31, 2020
Commercial real estate	$	914	$	34	$	6,311
Commercial - specialized		241		—		272
Commercial - general		1,891		149		5,489
Consumer:
1-4 Family residential		2,089		906		1,595
Auto loans		738		38		—
Other consumer		481		119		51
Construction		206		—		—

Total	$	6,560	$	1,246	$	13,718

Summary of Internal Classifications of Loans

The following table summarizes the internal classifications of loans:

	Pass		Special Mention		Substandard		Doubtful		Total
March 31, 2021
Commercial real estate	$	615,513	$	—	$	58,472	$	—	$	673,985
Commercial - specialized		271,286		—		8,103		—		279,389
Commercial - general		524,021		—		7,282		—		531,303
Consumer:
1-4 family residential		355,481		—		7,090		—		362,571
Auto loans		218,385		—		1,592		—		219,977
Other consumer		67,327		—		317		—		67,644
Construction		107,420		—		387		—		107,807

Total	$	2,159,433	$	—	$	83,243	$	—	$	2,242,676

December 31, 2020
Commercial real estate	$	602,250	$	—	$	61,094	$	—	$	663,344
Commercial - specialized		303,831		—		7,855		—		311,686
Commercial - general		510,543		—		7,766		—		518,309
Consumer:
1-4 family residential		352,930		—		7,385		—		360,315
Auto loans		204,301		—		1,539		—		205,840
Other consumer		67,216		—		379		—		67,595
Construction		94,494		—		—		—		94,494

Total	$	2,135,565	$	—	$	86,018	$	—	$	2,221,583

GOODWILL AND INTANGIBLES (Tables)

3 Months Ended

Mar. 31, 2021

GOODWILL AND INTANGIBLES [Abstract]

Goodwill and Other Intangible Assets

Goodwill and other intangible assets are summarized below:

	March 31, 2021			December 31, 2020
Beginning goodwill	$	19,508		$	18,757
Arising from business combinations		—			—
Measurement period acquisition adjustment		—			751
Ending goodwill	$	19,508		$	19,508

Amortized intangible assets
Customer relationship intangibles	$	6,679		$	6,679
Less: Accumulated amortization		(1,670	)		(1,396	)
		5,009			5,283

Other intangibles		2,972			2,309
Arising from business combinations		—			663
Less: Accumulated amortization		(841	)		(693	)
		2,131			2,279
Other intangible assets, net	$	7,140		$	7,562

STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2021

STOCK-BASED COMPENSATION [Abstract]

Summary of Stock Option Activity

A summary of activity in the Plan is presented in the table below:

	Number of Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Three Months Ended March 31, 2021
Outstanding at beginning of year:		1,554,894		$	14.77			$	12,360
Granted		214,452			19.46				699
Exercised		(1,357	)		16.00				(9	)
Forfeited		—			—				—
Expired		—			—				—

Balance, March 31, 2021		1,767,989		$	15.34		6.23	$	13,050

Exercisable at end of period		1,109,247		$	13.11		5.41	$	10,656

Vested at end of period		1,109,247		$	13.11		5.41	$	10,656

Summary of Assumptions Used to Calculate Fair Value of Awards

A summary of assumptions used to calculate the fair values of the awards granted during the periods noted is presented below:

	Three Months Ended March 31,
	2021			2020
Expected volatility	41.20% to 41.32%				27.46	%
Expected dividend yield		1.00	%		0.70	%
Expected term (years)	6.1 to 6.2 years			6.0 to 6.2 years
Risk-free interest rate	0.52% to 0.83%				1.44	%
Weighted average grant date fair value	$	7.07		$	5.68

Summary of Activity of Restricted Stock Units

A summary of activity in the Plan is presented in the table below:

	Number of Shares			Weighted-Average Grant Date Fair Value
Three Months Ended March 31, 2021
Outstanding at beginning of year:		62,476		$	19.47
Granted		6,370			19.62
Vested		(24,805	)		19.70
Forfeited		—			—

Balance, March 31, 2021		44,041		$	19.36

COMMITMENTS AND CONTINGENCIES (Tables)

3 Months Ended

Mar. 31, 2021

COMMITMENTS AND CONTINGENCIES [Abstract]

Financial Instrument Whose Contract Amounts Represent Credit Risk Outstanding

Financial instruments whose contract amounts represent credit risk outstanding follow:

	March 31, 2021		December 31, 2020
Commitments to grant loans and unfunded commitments under lines of credit	$	512,160	$	417,798
Standby letters of credit		8,819		10,481

CAPITAL AND REGULATORY MATTERS (Tables)

3 Months Ended

Mar. 31, 2021

CAPITAL AND REGULATORY MATTERS [Abstract]

Actual Capital Amounts and Ratios

The Company and its bank subsidiary’s actual capital amounts and ratios follow:

	Actual					Minimum Required Under BASEL III Fully Phased-In					To Be Well Capitalized Under Prompt Corrective Action Provisions
	Amount		Ratio			Amount		Ratio			Amount		Ratio
March 31, 2021
Total Capital to Risk Weighted Assets:
Consolidated	$	488,339		19.24	%	$	266,458		10.50	%		N/A		N/A
City Bank		408,927		16.12	%		266,391		10.50	%	$	253,706		10.00	%

Tier I Capital to Risk Weighted Assets:
Consolidated		380,816		15.01	%		215,704		8.50	%		N/A		N/A
City Bank		377,048		14.86	%		215,650		8.50	%		202,965		8.00	%

Common Equity Tier 1 to Risk Weighted Assets:
Consolidated		335,816		13.23	%		177,639		7.00	%		N/A		N/A
City Bank		377,048		14.86	%		177,594		7.00	%		164,909		6.50	%

Tier I Capital to Average Assets:
Consolidated		380,816		10.35	%		148,206		4.00	%		N/A		N/A
City Bank		377,048		10.26	%		102,960		4.00	%		183,826		5.00	%

December 31, 2020
Total Capital to Risk Weighted Assets:
Consolidated	$	473,425		19.08	%	$	260,531		10.50	%		N/A		N/A
City Bank		404,138		16.29	%		260,481		10.50	%	$	248,077		10.00	%

Tier I Capital to Risk Weighted Assets:
Consolidated		366,639		14.78	%		210,906		8.50	%		N/A		N/A
City Bank		372,947		15.03	%		210,866		8.50	%		198,462		8.00	%

Common Equity Tier 1 to Risk Weighted Assets:
Consolidated		321,639		12.96	%		173,688		7.00	%		N/A		N/A
City Bank		372,947		15.03	%		173,654		7.00	%		161,250		6.50	%

Tier I Capital to Average Assets:
Consolidated		366,639		10.24	%		144,347		4.00	%		N/A		N/A
City Bank		372,947		10.42	%		144,282		4.00	%		178,999		5.00	%

DERIVATIVES (Tables)

3 Months Ended

Mar. 31, 2021

DERIVATIVES [Abstract]

Fair Value Hedges

The following table reflects the fair value hedges included in the consolidated balance sheets:

	March 31, 2021				December 31, 2020
	Notional Amount		Fair Value		Notional Amount		Fair Value

Included in other liabilities:
Interest rate swaps related to fixed rate loans	$	10,077	$	617	$	10,178	$	927

Included in other assets:
Interest rate swaps related to fixed rate loans	$	—	$	—	$	—	$	—

The following table reflects the cash flow hedges included in the consolidated balance sheets:

	March 31, 2021				December 31, 2020
	Notional Amount		Fair Value		Notional Amount		Fair Value

Included in other liabilities:
Cash flow swaps related to state and municipal securities	$	—	$	—	$	68,485	$	1,643

Included in other assets:
Cash flow swaps related to state and municipal securities	$	123,760	$	6,781	$	55,275	$	1,618

Fair Value of Derivatives in Consolidated Balance Sheets

The following table reflects the amount and fair value of mortgage banking derivatives in the consolidated balance sheets:

	March 31, 2021				December 31, 2020
	Notional Amount		Fair Value		Notional Amount		Fair Value

Included in other assets:
Forward contracts related to mortgage loans held for sale	$	—	$	—	$	—	$	—
Interest rate lock commitments		214,670		6,204		210,716		5,115

Total included in other assets	$	214,670	$	6,204	$	210,716	$	5,115

Included in other liabilities:
Forward contracts related to mortgage loans held for sale	$	202,497	$	1,888	$	203,669	$	1,787
Interest rate lock commitments		—		—		—		—

Total included in other liabilities	$	202,497	$	1,888	$	203,669	$	1,787

EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2021

EARNINGS PER SHARE [Abstract]

Factors Used in Earnings Per Share Computation

The factors used in the earnings per share computation follow:

	Three Months Ended March 31,
	2021		2020
Net income	$	15,160	$	7,083

Weighted average common shares outstanding - basic		18,069,186		18,043,105
Effect of dilutive securities:
Stock-based compensation awards		441,934		418,817
Weighted average common shares outstanding - diluted		18,511,120		18,461,922

Basic earnings per share	$	0.84	$	0.39
Diluted earnings per share	$	0.82	$	0.38

SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2021

SEGMENT INFORMATION [Abstract]

Financial Results by Reportable Segment

Financial results by reportable segment are detailed below:

Three Months Ended March 31, 2021	Banking			Insurance			Consolidated
Net interest income	$	29,544		$	—		$	29,544
Provision for loan loss		(89	)		—			(89	)
Noninterest income		25,417			1,083			26,500
Noninterest expense		(35,955	)		(1,102	)		(37,057	)

Income before income taxes		18,917			(19	)		18,898

Income tax (expense) benefit		(3,741	)		3			(3,738	)

Net income (loss)	$	15,176		$	(16	)	$	15,160

Three Months Ended March 31, 2020	Banking			Insurance			Consolidated
Net interest income	$	30,199		$	—		$	30,199
Provision for loan loss		(6,234	)		—			(6,234	)
Noninterest income		17,761			1,114			18,875
Noninterest expense		(32,831	)		(1,180	)		(34,011	)

Income before income taxes		8,895			(66	)		8,829

Income tax (expense) benefit		(1,758	)		12			(1,746	)

Net income (loss)	$	7,137		$	(54	)	$	7,083

FAIR VALUE DISCLOSURES (Tables)

3 Months Ended

Mar. 31, 2021

FAIR VALUE DISCLOSURES [Abstract]

Assets (Liabilities) Measured at Fair Value on Recurring and Non-Recurring Basis

The following table summarizes fair value measurements:

	Level 1		Level 2			Level 3		Total
March 31, 2021
Assets (liabilities) measured at fair value on a recurring basis:
Securities available for sale:
U.S. government and agencies	$	—	$	—		$	—	$	—
State and municipal		—		268,787			—		268,787
Mortgage-backed securities		—		357,651			—		357,651
Collateralized mortgage obligations		—		106,628			—		106,628
Asset-backed and other amortizing securities		—		31,913			—		31,913
Other securities		—		12,229			—		12,229
Loans held for sale (mandatory)		—		83,882			—		83,882
Mortgage servicing rights		—		—			13,558		13,558
Asset derivatives		—		12,985			—		12,985
Liability derivatives		—		(2,505	)		—		(2,505	)

Assets measured at fair value on a non-recurring basis:
Impaired loans		—		—			11,195		11,195
Other real estate owned		—		—			1,377		1,377

December 31, 2020
Assets (liabilities) measured at fair value on a recurring basis:
Securities available for sale:
U.S. government and agencies	$	—	$	4,753		$	—	$	4,753
State and municipal		—		272,607			—		272,607
Mortgage-backed securities		—		373,362			—		373,362
Collateralized mortgage obligations		—		106,715			—		106,715
Asset-backed and other amortizing securities		—		33,572			—		33,572
Other securities		—		12,078			—		12,078
Loans held for sale (mandatory)		—		80,174			—		80,174
Mortgage servicing rights		—		—			9,049		9,049
Asset derivatives		—		6,734			—		6,734
Liability derivatives		—		(4,357	)		—		(4,357	)

Assets measured at fair value on a non-recurring basis:
Impaired loans		—		—			11,926		11,926
Other real estate owned		—		—			1,353		1,353

Quantitative Information about Non-Recurring Level 3 Fair Value Measurements

The following table presents quantitative information about non-recurring Level 3 fair value measurements:

	Fair Value		Valuation Techniques		Unobservable Inputs		Range of Discounts
March 31, 2021				12		12
Impaired loans	$	11,195	Third party appraisals or inspections		Collateral discounts and selling costs			0%-100	%
Other real estate owned		1,377	Third party appraisals or inspections		Collateral discounts and selling costs			15%-66	%
Mortgage servicing rights		13,558	Discounted cash flows		Conditional prepayment rate			5.78	%
					Discount rate			9.68	%

December 31, 2020
Impaired loans	$	11,926	Third party appraisals or inspections		Collateral discounts and selling costs			0%-100	%
Other real estate owned		1,353	Third party appraisals or inspections		Collateral discounts and selling costs			15%-66	%
Mortgage servicing rights		9,049	Discounted cash flows		Conditional prepayment rate			4.48	%
					Discount rate			9.72	%

Estimated Fair Values, and Related Carrying Amounts of Financial Instruments

The estimated fair values, and related carrying amounts, of the Company’s financial instruments are as follows:

	Carrying Amount		Level 1		Level 2		Level 3		Total Fair Value

March 31, 2021
Financial assets:
Cash and cash equivalents	$	413,406	$	413,406	$	—	$	—	$	413,406
Loans, net		2,197,657		—		—		2,200,173		2,200,173
Accrued interest receivable		11,277		—		11,277		—		11,277
Bank-owned life insurance		71,061		—		71,061		—		71,061

Financial liabilities:
Deposits	$	3,155,632	$	2,974,868	$	183,282	$	—	$	3,158,150
Accrued interest payable		1,480		—		1,480		—		1,480
Notes payable & other borrowings		25,000		—		25,000		—		25,000
Junior subordinated deferrable interest debentures		46,393		—		45,690		—		45,690
Subordinated debt securities		75,635		—		77,799		—		77,799

	Carrying Amount		Level 1		Level 2		Level 3		Total Fair Value

December 31, 2020
Financial assets:
Cash and cash equivalents	$	300,307	$	300,307	$	—	$	—	$	300,307
Loans, net		2,176,030		—		—		2,179,573		2,179,573
Accrued interest receivable		15,233		—		15,233		—		15,233
Bank-owned life insurance		70,731		—		70,731		—		70,731

Financial liabilities:
Deposits	$	2,974,351	$	2,649,830	$	329,609	$	—	$	2,979,439
Accrued interest payable		2,113		—		2,113		—		2,113
Notes payable & other borrowings		75,000		—		75,000		—		75,000
Junior subordinated deferrable interest debentures		46,393		—		45,690		—		45,690
Subordinated debt securities		75,589		—		76,889		—		76,889

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

BUSINESS COMBINATIONS (Tables)

3 Months Ended

Mar. 31, 2021

BUSINESS COMBINATIONS [Abstract]

Fair Value of the Assets Acquired and Liabilities Assumed

Cash paid	$	687

Assets acquired:
Premises and equipment, net	$	24
Customer list		512
Other intangible assets		151
Total assets acquired	$	687

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Loans [Abstract]
Number of days principal or interest payments are past due for loans to be placed on nonaccrual status	90 days
Goodwill and Other Intangible Assets [Abstract]
Impairment loss	$ 0	$ 0
Minimum [Member]
Allowance for Loan Losses [Abstract]
Threshold balance of loan to be specifically reviewed for impairment	$ 250
City Bank [Member] \| Bank Subsidiary [Member]
Subsidiaries Information [Abstract]
Wholly Owned, Consolidated Subsidiaries	City Bank
Windmark Insurance Agency, Inc. ("Windmark") [Member] \| Non-bank Subsidiary [Member]
Subsidiaries Information [Abstract]
Wholly Owned, Consolidated Subsidiaries	Windmark Insurance Agency, Inc. ("Windmark")
Ruidoso Retail, Inc. [Member] \| Non-bank Subsidiary [Member]
Subsidiaries Information [Abstract]
Wholly Owned, Consolidated Subsidiaries	Ruidoso Retail, Inc.
CB Provence, LLC [Member] \| Non-bank Subsidiary [Member]
Subsidiaries Information [Abstract]
Wholly Owned, Consolidated Subsidiaries	CB Provence, LLC
CBT Brushy Creek, LLC [Member] \| Non-bank Subsidiary [Member]
Subsidiaries Information [Abstract]
Wholly Owned, Consolidated Subsidiaries	CBT Brushy Creek, LLC
CBT Properties, LLC [Member] \| Non-bank Subsidiary [Member]
Subsidiaries Information [Abstract]
Wholly Owned, Consolidated Subsidiaries	CBT Properties, LLC
South Plains Financial Capital Trusts (SPFCT) III-V [Member] \| Non-bank Subsidiary [Member]
Subsidiaries Information [Abstract]
Wholly Owned, Equity Method Subsidiaries	South Plains Financial Capital Trusts (SPFCT) III-V
Substandard or Worse [Member] \| Minimum [Member]
Allowance for Loan Losses [Abstract]
Threshold balance of loan to be specifically reviewed for impairment	$ 250
Customer Relationships [Member]
Goodwill and Other Intangible Assets [Abstract]
Estimated useful lives	5 years
Employment Agreements [Member]
Goodwill and Other Intangible Assets [Abstract]
Estimated useful lives	5 years
Core Deposits Intangible [Member] \| Maximum [Member]
Goodwill and Other Intangible Assets [Abstract]
Estimated useful lives	10 years

SECURITIES, Available for Sale (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Available for sale [Abstract]
Amortized cost	$ 768,612	$ 775,999
Gross unrealized gains	14,346	27,875
Gross unrealized losses	(5,750)	(787)
Fair value	777,208	803,087
U.S. Government and Agencies [Member]
Available for sale [Abstract]
Amortized cost	0	4,750
Gross unrealized gains	0	3
Gross unrealized losses	0	0
Fair value	0	4,753
State and Municipal [Member]
Available for sale [Abstract]
Amortized cost	263,102	261,023
Gross unrealized gains	6,506	11,704
Gross unrealized losses	(821)	(120)
Fair value	268,787	272,607
Mortgage-backed Securities [Member]
Available for sale [Abstract]
Amortized cost	355,867	359,542
Gross unrealized gains	6,172	14,014
Gross unrealized losses	(4,388)	(194)
Fair value	357,651	373,362
Collateralized Mortgage Obligations [Member]
Available for sale [Abstract]
Amortized cost	107,077	107,175
Gross unrealized gains	0	0
Gross unrealized losses	(449)	(460)
Fair value	106,628	106,715
Asset-backed and Other Amortizing Securities [Member]
Available for sale [Abstract]
Amortized cost	30,566	31,509
Gross unrealized gains	1,347	2,063
Gross unrealized losses	0	0
Fair value	31,913	33,572
Other Securities [Member]
Available for sale [Abstract]
Amortized cost	12,000	12,000
Gross unrealized gains	321	91
Gross unrealized losses	(92)	(13)
Fair value	$ 12,229	$ 12,078

SECURITIES, Amortized Cost and Fair Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Available for Sale, Amortized Cost [Abstract]
Within 1 year	$ 377
After 1 year through 5 years	4,595
After 5 years through 10 years	26,284
After 10 years	243,845
Other	493,511
Amortized cost	768,612	$ 775,999
Available for Sale, Fair Value [Abstract]
Within 1 year	381
After 1 year through 5 years	4,864
After 5 years through 10 years	27,032
After 10 years	248,738
Other	496,193
Fair value	$ 777,208	$ 803,087

SECURITIES, Securities Transferred and Securities Pledged (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2021 USD ($) Security	Dec. 31, 2020 USD ($) Security
SECURITIES [Abstract]
Holdings of securities of any one issuer, other than the U.S. government and its agencies, in an amount greater than 10% of stockholders' equity \| Security	0	0
Carrying value of securities pledged to collateralize public deposits and for other purposes \| $	$ 321.5	$ 292.2

SECURITIES, Securities with Unrealized Losses, Available for Sale (Details) $ in Thousands	Mar. 31, 2021 USD ($) Security	Dec. 31, 2020 USD ($)
Available for sale, Fair Value [Abstract]
Less than 12 months	$ 297,806	$ 203,683
12 months or more	0	0
Total	297,806	203,683
Available for sale, Unrealized Loss [Abstract]
Less than 12 months	5,750	787
12 months or more	0	0
Total	$ 5,750	787
Number of securities with an unrealized loss \| Security	33
U.S. Government and Agencies [Member]
Available for sale, Fair Value [Abstract]
Less than 12 months	$ 0	0
12 months or more	0	0
Total	0	0
Available for sale, Unrealized Loss [Abstract]
Less than 12 months	0	0
12 months or more	0	0
Total	0	0
State and Municipal [Member]
Available for sale, Fair Value [Abstract]
Less than 12 months	64,700	0
12 months or more	0	0
Total	64,700	0
Available for sale, Unrealized Loss [Abstract]
Less than 12 months	821	120
12 months or more	0	0
Total	821	120
Mortgage-backed Securities [Member]
Available for sale, Fair Value [Abstract]
Less than 12 months	120,069	93,482
12 months or more	0	0
Total	120,069	93,482
Available for sale, Unrealized Loss [Abstract]
Less than 12 months	4,388	194
12 months or more	0	0
Total	4,388	194
Collateralized Mortgage Obligations [Member]
Available for sale, Fair Value [Abstract]
Less than 12 months	106,629	106,715
12 months or more	0	0
Total	106,629	106,715
Available for sale, Unrealized Loss [Abstract]
Less than 12 months	449	460
12 months or more	0	0
Total	449	460
Asset-backed and Other Amortizing Securities [Member]
Available for sale, Fair Value [Abstract]
Less than 12 months	0	0
12 months or more	0	0
Total	0	0
Available for sale, Unrealized Loss [Abstract]
Less than 12 months	0	0
12 months or more	0	0
Total	0	0
Other Securities [Member]
Available for sale, Fair Value [Abstract]
Less than 12 months	6,408	3,486
12 months or more	0	0
Total	6,408	3,486
Available for sale, Unrealized Loss [Abstract]
Less than 12 months	92	13
12 months or more	0	0
Total	$ 92	$ 13

LOANS, Summary of Loans by Category (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021 USD ($) Category	Dec. 31, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Summary of Loans by Category [Abstract]
Loans, gross	$ 2,242,676	$ 2,221,583
Allowance for loan losses	(45,019)	(45,553)	$ (29,074)	$ (24,197)
Loans, net	2,197,657	2,176,030
Commercial Real Estate [Member]
Summary of Loans by Category [Abstract]
Loans, gross	673,985	663,344
Allowance for loan losses	$ (19,020)	(18,962)	(7,192)	(5,049)
Commercial [Member]
Summary of Loans by Category [Abstract]
Number of sub-categories of loans \| Category	2
Commercial [Member] \| Specialized [Member]
Summary of Loans by Category [Abstract]
Loans, gross	$ 279,389	311,686
Allowance for loan losses	(5,458)	(5,760)	(4,555)	(2,287)
Commercial [Member] \| General [Member]
Summary of Loans by Category [Abstract]
Loans, gross	531,303	518,309
Allowance for loan losses	(8,979)	(9,227)	(7,980)	(9,609)
Consumer [Member] \| 1-4 Family Residential [Member]
Summary of Loans by Category [Abstract]
Loans, gross	362,571	360,315
Allowance for loan losses	(4,890)	(4,646)	(2,744)	(2,093)
Consumer [Member] \| Auto Loans [Member]
Summary of Loans by Category [Abstract]
Loans, gross	219,977	205,840
Allowance for loan losses	(3,891)	(4,226)	(4,312)	(3,385)
Consumer [Member] \| Other Consumer [Member]
Summary of Loans by Category [Abstract]
Loans, gross	67,644	67,595
Allowance for loan losses	(1,480)	(1,671)	(1,639)	(1,341)
Construction [Member]
Summary of Loans by Category [Abstract]
Loans, gross	107,807	94,494
Allowance for loan losses	$ (1,301)	$ (1,061)	$ (652)	$ (433)

LOANS, Activity in Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
LOANS [Abstract]
Percentage of allowance for loan losses to loans held for investment	2.01%		2.05%
Allowance for Loan Losses [Roll Forward]
Beginning Balance	$ 45,553	$ 24,197
Provision for loan losses	89	6,234
Charge-offs	(841)	(1,670)
Recoveries	218	313
Ending Balance	45,019	29,074
Commercial Real Estate [Member]
Allowance for Loan Losses [Roll Forward]
Beginning Balance	18,962	5,049
Provision for loan losses	58	2,035
Charge-offs	0	0
Recoveries	0	108
Ending Balance	19,020	7,192
Commercial [Member] \| Specialized [Member]
Allowance for Loan Losses [Roll Forward]
Beginning Balance	5,760	2,287
Provision for loan losses	(378)	2,218
Charge-offs	0	(14)
Recoveries	76	64
Ending Balance	5,458	4,555
Commercial [Member] \| General [Member]
Allowance for Loan Losses [Roll Forward]
Beginning Balance	9,227	9,609
Provision for loan losses	52	(798)
Charge-offs	(344)	(848)
Recoveries	44	17
Ending Balance	8,979	7,980
Consumer [Member] \| 1-4 Family Residential [Member]
Allowance for Loan Losses [Roll Forward]
Beginning Balance	4,646	2,093
Provision for loan losses	295	651
Charge-offs	(52)	0
Recoveries	1	0
Ending Balance	4,890	2,744
Consumer [Member] \| Auto Loans [Member]
Allowance for Loan Losses [Roll Forward]
Beginning Balance	4,226	3,385
Provision for loan losses	(180)	1,316
Charge-offs	(188)	(441)
Recoveries	33	52
Ending Balance	3,891	4,312
Consumer [Member] \| Other Consumer [Member]
Allowance for Loan Losses [Roll Forward]
Beginning Balance	1,671	1,341
Provision for loan losses	4	593
Charge-offs	(257)	(367)
Recoveries	62	72
Ending Balance	1,480	1,639
Construction [Member]
Allowance for Loan Losses [Roll Forward]
Beginning Balance	1,061	433
Provision for loan losses	238	219
Charge-offs	0	0
Recoveries	2	0
Ending Balance	$ 1,301	$ 652

LOANS, Investment in loans Disaggregated Based on Method of Evaluating Impairment (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Recorded Investment [Abstract]
Individually Evaluated	$ 12,609	$ 13,021
Collectively Evaluated	2,230,067	2,208,562
Allowance for Loan Losses [Abstract]
Individually Evaluated	1,414	1,095
Collectively Evaluated	43,605	44,458
Commercial Real Estate [Member]
Recorded Investment [Abstract]
Individually Evaluated	6,217	6,273
Collectively Evaluated	667,768	657,071
Allowance for Loan Losses [Abstract]
Individually Evaluated	580	580
Collectively Evaluated	18,440	18,382
Commercial [Member] \| Specialized [Member]
Recorded Investment [Abstract]
Individually Evaluated	0	0
Collectively Evaluated	279,389	311,686
Allowance for Loan Losses [Abstract]
Individually Evaluated	0	0
Collectively Evaluated	5,458	5,760
Commercial [Member] \| General [Member]
Recorded Investment [Abstract]
Individually Evaluated	4,540	4,626
Collectively Evaluated	526,763	513,683
Allowance for Loan Losses [Abstract]
Individually Evaluated	834	515
Collectively Evaluated	8,145	8,712
Consumer [Member] \| 1-4 Family Residential [Member]
Recorded Investment [Abstract]
Individually Evaluated	1,852	2,122
Collectively Evaluated	360,719	358,193
Allowance for Loan Losses [Abstract]
Individually Evaluated	0	0
Collectively Evaluated	4,890	4,646
Consumer [Member] \| Auto Loans [Member]
Recorded Investment [Abstract]
Individually Evaluated	0	0
Collectively Evaluated	219,977	205,840
Allowance for Loan Losses [Abstract]
Individually Evaluated	0	0
Collectively Evaluated	3,891	4,226
Consumer [Member] \| Other Consumer [Member]
Recorded Investment [Abstract]
Individually Evaluated	0	0
Collectively Evaluated	67,644	67,595
Allowance for Loan Losses [Abstract]
Individually Evaluated	0	0
Collectively Evaluated	1,480	1,671
Construction [Member]
Recorded Investment [Abstract]
Individually Evaluated	0	0
Collectively Evaluated	107,807	94,494
Allowance for Loan Losses [Abstract]
Individually Evaluated	0	0
Collectively Evaluated	$ 1,301	$ 1,061

LOANS, Impaired Loan Information (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Impaired Loan Information [Abstract]
Unpaid Contractual Principal Balance	$ 13,028	$ 13,440
Recorded Investment [Abstract]
Recorded Investment With No Allowance	5,746	9,159
Recorded Investment With Allowance	6,863	3,862
Total Recorded Investment	12,609	13,021
Related Allowance	1,414	1,095
Average Recorded Investment	12,815	9,894
Minimum [Member]
Recorded Investment [Abstract]
Threshold balance of loan to be specifically reviewed for impairment	250
Commercial Real Estate [Member]
Impaired Loan Information [Abstract]
Unpaid Contractual Principal Balance	6,217	6,273
Recorded Investment [Abstract]
Recorded Investment With No Allowance	3,617	3,673
Recorded Investment With Allowance	2,600	2,600
Total Recorded Investment	6,217	6,273
Related Allowance	580	580
Average Recorded Investment	6,245	3,666
Commercial [Member] \| Specialized [Member]
Impaired Loan Information [Abstract]
Unpaid Contractual Principal Balance	0	0
Recorded Investment [Abstract]
Recorded Investment With No Allowance	0	0
Recorded Investment With Allowance	0	0
Total Recorded Investment	0	0
Related Allowance	0	0
Average Recorded Investment	0	673
Commercial [Member] \| General [Member]
Impaired Loan Information [Abstract]
Unpaid Contractual Principal Balance	4,540	4,626
Recorded Investment [Abstract]
Recorded Investment With No Allowance	277	3,364
Recorded Investment With Allowance	4,263	1,262
Total Recorded Investment	4,540	4,626
Related Allowance	834	515
Average Recorded Investment	4,583	3,400
Consumer [Member] \| 1-4 Family [Member]
Impaired Loan Information [Abstract]
Unpaid Contractual Principal Balance	2,271	2,541
Recorded Investment [Abstract]
Recorded Investment With No Allowance	1,852	2,122
Recorded Investment With Allowance	0	0
Total Recorded Investment	1,852	2,122
Related Allowance	0	0
Average Recorded Investment	1,987	2,155
Consumer [Member] \| Auto Loans [Member]
Impaired Loan Information [Abstract]
Unpaid Contractual Principal Balance	0	0
Recorded Investment [Abstract]
Recorded Investment With No Allowance	0	0
Recorded Investment With Allowance	0	0
Total Recorded Investment	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Consumer [Member] \| Other Consumer [Member]
Impaired Loan Information [Abstract]
Unpaid Contractual Principal Balance	0	0
Recorded Investment [Abstract]
Recorded Investment With No Allowance	0	0
Recorded Investment With Allowance	0	0
Total Recorded Investment	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Construction [Member]
Impaired Loan Information [Abstract]
Unpaid Contractual Principal Balance	0	0
Recorded Investment [Abstract]
Recorded Investment With No Allowance	0	0
Recorded Investment With Allowance	0	0
Total Recorded Investment	0	0
Related Allowance	0	0
Average Recorded Investment	$ 0	$ 0

LOANS, Age Analysis on Accruing Past-due Loans and Nonaccrual Loans (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021 USD ($) Point	Dec. 31, 2020 USD ($)
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Nonaccrual	$ 13,014	$ 13,718
Number of points on a grading scale for loans \| Point	13
30-89 Days Past Due [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	$ 7,150	6,560
90 Days or More Past Due [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	1,302	1,246
Commercial Real Estate [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Nonaccrual	6,251	6,311
Commercial Real Estate [Member] \| 30-89 Days Past Due [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	4,157	914
Commercial Real Estate [Member] \| 90 Days or More Past Due [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	0	34
Commercial [Member] \| Specialized [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Nonaccrual	217	272
Commercial [Member] \| Specialized [Member] \| 30-89 Days Past Due [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	655	241
Commercial [Member] \| Specialized [Member] \| 90 Days or More Past Due [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	0	0
Commercial [Member] \| General [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Nonaccrual	5,109	5,489
Commercial [Member] \| General [Member] \| 30-89 Days Past Due [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	215	1,891
Commercial [Member] \| General [Member] \| 90 Days or More Past Due [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	45	149
Consumer [Member] \| 1-4 Family Residential [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Nonaccrual	1,387	1,595
Consumer [Member] \| 1-4 Family Residential [Member] \| 30-89 Days Past Due [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	763	2,089
Consumer [Member] \| 1-4 Family Residential [Member] \| 90 Days or More Past Due [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	934	906
Consumer [Member] \| Auto Loans [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Nonaccrual	0	0
Consumer [Member] \| Auto Loans [Member] \| 30-89 Days Past Due [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	288	738
Consumer [Member] \| Auto Loans [Member] \| 90 Days or More Past Due [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	115	38
Consumer [Member] \| Other Consumer [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Nonaccrual	50	51
Consumer [Member] \| Other Consumer [Member] \| 30-89 Days Past Due [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	400	481
Consumer [Member] \| Other Consumer [Member] \| 90 Days or More Past Due [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	33	119
Construction [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Nonaccrual	0	0
Construction [Member] \| 30-89 Days Past Due [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	672	206
Construction [Member] \| 90 Days or More Past Due [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	$ 175	$ 0

LOANS, COVID-19 Related Deferral and Modification (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021 USD ($) Loan	Dec. 31, 2020 USD ($)
CARES Act [Abstract]
TDRs	$ 0	$ 0
Covid-19 [Member]
CARES Act [Abstract]
Percentage of loans modified under CARES Act	2.06%
Number of outstanding loans subject to deferral and modification agreements \| Loan	9
Amount of outstanding loans subject to deferral and modification agreements	$ 46,100
Covid-19 [Member] \| Short-term Deferral Modification Program [Member]
CARES Act [Abstract]
Amount of outstanding principal balance of loans modified under CARES Act	$ 766
Percentage of loans modified under CARES Act	0.03%
Commercial [Member] \| Covid-19 [Member] \| Short-term Deferral Modification Program [Member] \| Interest-Only Payment [Member]
CARES Act [Abstract]
Amount of outstanding principal balance of loans modified under CARES Act	$ 508
Period of loan modification	6 months
Consumer [Member] \| Covid-19 [Member] \| Short-term Deferral Modification Program [Member] \| Payment Deferrals [Member]
CARES Act [Abstract]
Amount of outstanding principal balance of loans modified under CARES Act	$ 258
Consumer [Member] \| Covid-19 [Member] \| Short-term Deferral Modification Program [Member] \| Payment Deferrals [Member] \| Minimum [Member]
CARES Act [Abstract]
Period of loan modification	1 month
Consumer [Member] \| Covid-19 [Member] \| Short-term Deferral Modification Program [Member] \| Payment Deferrals [Member] \| Maximum [Member]
CARES Act [Abstract]
Period of loan modification	4 months

GOODWILL AND INTANGIBLES (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
GOODWILL AND INTANGIBLES (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Goodwill and Other Intangible Assets [Abstract]
Beginning goodwill	$ 19,508	$ 18,757
Arising from business combinations	0	0
Measurement period acquisition adjustment	0	751
Ending goodwill	19,508	19,508
Amortized Intangible Assets [Abstract]
Other intangible assets, net	7,140	7,562
Customer Relationship Intangibles [Member]
Amortized Intangible Assets [Abstract]
Other intangible assets, gross	6,679	6,679
Less: Accumulated amortization	(1,670)	(1,396)
Other intangible assets, net	5,009	5,283
Other Intangibles [Member]
Amortized Intangible Assets [Abstract]
Other intangible assets, gross	2,972	2,309
Arising from business combinations	0	663
Less: Accumulated amortization	(841)	(693)
Other intangible assets, net	$ 2,131	$ 2,279

BORROWING ARRANGEMENTS, Subordinated Debt Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Sep. 29, 2020	Dec. 31, 2018
Subordinated Debt Securities [Abstract]
Subordinated debt securities	$ 75,635	$ 75,589
Subordinated Debt Securities Issued in December 2018 [Member]
Subordinated Debt Securities [Abstract]
Debt instrument, face amount				$ 26,500
Subordinated Debt Securities Issued in December 2018 [Member] \| Debt Securities One [Member]
Subordinated Debt Securities [Abstract]
Debt instrument, face amount				$ 12,400
Debt instrument, maturity date	Dec. 31, 2028
Debt instrument, initial interest rate				5.74%
Debt instrument, period of fixed interest rate	5 years
Debt instrument, variable interest rate, floor	4.50%
Debt instrument, variable interest rate, ceiling	7.50%
Subordinated Debt Securities Issued in December 2018 [Member] \| Debt Securities One [Member] \| Maximum [Member]
Subordinated Debt Securities [Abstract]
Remaining maturity period during which debt can be called	5 years
Subordinated Debt Securities Issued in December 2018 [Member] \| Debt Securities Two [Member]
Subordinated Debt Securities [Abstract]
Debt instrument, face amount				$ 14,100
Debt instrument, maturity date	Dec. 31, 2030
Debt instrument, initial interest rate				6.41%
Debt instrument, period of fixed interest rate	7 years
Debt instrument, variable interest rate, floor	4.50%
Debt instrument, variable interest rate, ceiling	7.50%
Subordinated Debt Securities Issued in December 2018 [Member] \| Debt Securities Two [Member] \| Maximum [Member]
Subordinated Debt Securities [Abstract]
Remaining maturity period during which debt can be called	5 years
Subordinated Debt Securities Issued in September 29, 2020 [Member]
Subordinated Debt Securities [Abstract]
Debt instrument, face amount			$ 50,000
Debt issuance cost			$ 926
Debt instrument, maturity date	Sep. 30, 2030
Debt instrument, initial interest rate			4.50%
Debt instrument, period of fixed interest rate	5 years
Subordinated Debt Securities Issued in September 29, 2020 [Member] \| SOFR [Member]
Subordinated Debt Securities [Abstract]
Term of variable rate	3 months
Basis spread on variable rate	4.38%
Subordinated Debt Securities Issued in September 29, 2020 [Member] \| Maximum [Member]
Subordinated Debt Securities [Abstract]
Remaining maturity period during which debt can be called	5 years
Subordinated Debt [Member]
Subordinated Debt Securities [Abstract]
Debt instrument, face amount	$ 76,500
Debt issuance cost	837
Subordinated debt securities	$ 75,600

BORROWING ARRANGEMENTS, Notes Payable and Other Borrowings (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Mar. 31, 2021 USD ($) Advance	Mar. 31, 2021 USD ($)	Mar. 31, 2020 USD ($) Advance	Dec. 31, 2020 USD ($) Advance
Detail of Advances from FHLB [Abstract]
Repayment of advances		$ 50,000	$ 0
Federal Home Loan Bank Advance [Member]
Detail of Advances from FHLB [Abstract]
Number of advances \| Advance			1	3
Original amount of advances			$ 25,000	$ 75,000
Number of advances repaid \| Advance	2
Repayment of advances	$ 50,000

STOCK-BASED COMPENSATION (Details) - 2019 Equity Incentive Plan [Member]	Mar. 06, 2019 shares
Equity Incentive Plan [Abstract]
Maximum aggregate number of shares of common stock that may be issued (in shares)	2,300,000
Maximum [Member]
Equity Incentive Plan [Abstract]
Annual increase in number of shares that may be issued	3.00%

STOCK-BASED COMPENSATION, Stock Options Activity (Details) - 2019 Equity Incentive Plan [Member] - Stock Option [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Number of Shares [Roll Forward]
Outstanding at beginning of year (in shares)	1,554,894
Granted (in shares)	214,452
Exercised (in shares)	(1,357)
Forfeited (in shares)	0
Expired (in shares)	0
Balance at end of period (in shares)	1,767,989
Exercisable at end of period (in shares)	1,109,247
Vested at end of period (in shares)	1,109,247
Weighted-Average Exercise Price [Abstract]
Outstanding at beginning of year (in dollars per share)	$ 14.77
Granted (in dollars per share)	19.46
Exercised (in dollars per share)	16.00
Forfeited (in dollars per share)	0
Expired (in dollars per share)	0
Balance at end of period (in dollars per share)	15.34
Exercisable at end of period (in dollars per share)	13.11
Vested at end of period (in dollars per share)	$ 13.11
Weighted Average Remaining Contractual Life in Years [Abstract]
Options Outstanding	6 years 2 months 23 days
Exercisable at end of period	5 years 4 months 28 days
Vested at end of period	5 years 4 months 28 days
Aggregate Intrinsic Value [Abstract]
Outstanding at beginning of year	$ 12,360
Granted	699
Exercised	(9)	$ (4)
Forfeited	0
Expired	0
Balance at end of period	13,050
Exercisable at end of period	10,656
Vested at end of period	$ 10,656

STOCK-BASED COMPENSATION, Fair Value Assumptions (Details) - Stock Option [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Summary of Assumptions Used to Calculate Fair Value of Awards [Abstract]
Expected volatility		27.46%
Expected dividend yield	1.00%	0.70%
Risk-free interest rate		1.44%
Weighted average grant date fair value (in dollars per share)	$ 7.07	$ 5.68
Minimum [Member]
Summary of Assumptions Used to Calculate Fair Value of Awards [Abstract]
Expected volatility	41.20%
Expected term	6 years 1 month 6 days	6 years
Risk-free interest rate	0.52%
Maximum [Member]
Summary of Assumptions Used to Calculate Fair Value of Awards [Abstract]
Expected volatility	41.32%
Expected term	6 years 2 months 12 days	6 years 2 months 12 days
Risk-free interest rate	0.83%
2019 Equity Incentive Plan [Member]
Equity Incentive Plan [Abstract]
Intrinsic value of options exercised	$ 9	$ 4

STOCK-BASED COMPENSATION, Restricted Stock Units (Details) - Restricted Stock Units [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Number of Shares [Roll Forward]
Outstanding at beginning of year (in shares)	62,476
Granted (in shares)	6,370
Vested (in shares)	(24,805)
Forfeited (in shares)	0
Balance at ending of period (in shares)	44,041
Weighted-Average Exercise Price [Abstract]
Outstanding at beginning of year (in dollars per share)	$ 19.47
Granted (in dollars per share)	19.62
Vested (in dollars per share)	19.70
Forfeited (in dollars per share)	0
Balance at ending of period (in dollars per share)	$ 19.36
Award vesting period	4 years
Unrecognized compensation cost	$ 4,000
Weighted average remaining period, recognition of compensation cost	1 year 9 months 10 days
Fair value of restricted stock units vested	$ 489	$ 489

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
FHLB Letters of Credit [Abstract]
Letters of credit outstanding balance	$ 199,000	$ 199,000
Commitments to Grant Loans and Unfunded Commitments Under Lines of Credit [Member]
Financial instruments with off-balance-sheet risk [Abstract]
Financial instruments whose contract amounts represent credit risk outstanding	512,160	417,798
Standby Letters of Credit [Member]
Financial instruments with off-balance-sheet risk [Abstract]
Financial instruments whose contract amounts represent credit risk outstanding	$ 8,819	$ 10,481

CAPITAL AND REGULATORY MATTERS (Details) $ in Thousands	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Consolidated [Member]
Total Capital to Risk Weighted Assets [Abstract]
Actual, Amount	$ 488,339	$ 473,425
Actual, Ratio	0.1924	0.1908
Minimum Required Under BASEL III Fully Phased-In, Amount	$ 266,458	$ 260,531
Minimum Required Under BASEL III Fully Phased-In, Ratio	0.1050	0.1050
Tier I Capital to Risk Weighted Assets [Abstract]
Actual, Amount	$ 380,816	$ 366,639
Actual, Ratio	0.1501	0.1478
Minimum Required Under BASEL III Fully Phased-In, Amount	$ 215,704	$ 210,906
Minimum Required Under BASEL III Fully Phased-In, Ratio	0.0850	0.0850
Common Equity Tier 1 to Risk Weighted Assets [Abstract]
Actual, Amount	$ 335,816	$ 321,639
Actual, Ratio	0.1323	0.1296
Minimum Required Under BASEL III Fully Phased-In, Amount	$ 177,639	$ 173,688
Minimum Required Under BASEL III Fully Phased-In, Ratio	0.0700	0.0700
Tier I Capital to Average Assets [Abstract]
Actual, Amount	$ 380,816	$ 366,639
Actual, Ratio	0.1035	0.1024
Minimum Required Under BASEL III Fully Phased-In, Amount	$ 148,206	$ 144,347
Minimum Required Under BASEL III Fully Phased-In, Ratio	0.0400	0.0400
City Bank [Member]
Total Capital to Risk Weighted Assets [Abstract]
Actual, Amount	$ 408,927	$ 404,138
Actual, Ratio	0.1612	0.1629
Minimum Required Under BASEL III Fully Phased-In, Amount	$ 266,391	$ 260,481
Minimum Required Under BASEL III Fully Phased-In, Ratio	0.1050	0.1050
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 253,706	$ 248,077
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.1000	0.1000
Tier I Capital to Risk Weighted Assets [Abstract]
Actual, Amount	$ 377,048	$ 372,947
Actual, Ratio	0.1486	0.1503
Minimum Required Under BASEL III Fully Phased-In, Amount	$ 215,650	$ 210,866
Minimum Required Under BASEL III Fully Phased-In, Ratio	0.0850	0.0850
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 202,965	$ 198,462
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.0800	0.0800
Common Equity Tier 1 to Risk Weighted Assets [Abstract]
Actual, Amount	$ 377,048	$ 372,947
Actual, Ratio	0.1486	0.1503
Minimum Required Under BASEL III Fully Phased-In, Amount	$ 177,594	$ 173,654
Minimum Required Under BASEL III Fully Phased-In, Ratio	0.0700	0.0700
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 164,909	$ 161,250
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.0650	0.0650
Tier I Capital to Average Assets [Abstract]
Actual, Amount	$ 377,048	$ 372,947
Actual, Ratio	0.1026	0.1042
Minimum Required Under BASEL III Fully Phased-In, Amount	$ 102,960	$ 144,282
Minimum Required Under BASEL III Fully Phased-In, Ratio	0.0400	0.0400
To Be Well Capitalized Under Prompt Corrective Action Provisions, Amount	$ 183,826	$ 178,999
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.0500	0.0500

DERIVATIVES (Details) - Fair Value Hedging [Member] - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Interest Rate Swaps [Member] \| Other Liabilities [Member]
Fair value hedges included in Consolidated Balance Sheets [Abstract]
Derivative liability, notional amount	$ 10,077	$ 10,178
Derivative liability, fair value	617	927
Interest Rate Swaps [Member] \| Other Assets [Member]
Fair value hedges included in Consolidated Balance Sheets [Abstract]
Derivative asset, notional amount	0	0
Derivative asset, fair value	0	0
Cash Flow Swaps [Member] \| Other Liabilities [Member]
Fair value hedges included in Consolidated Balance Sheets [Abstract]
Derivative liability, notional amount	0	68,485
Derivative liability, fair value	0	1,643
Cash Flow Swaps [Member] \| Other Assets [Member]
Fair value hedges included in Consolidated Balance Sheets [Abstract]
Derivative asset, notional amount	123,760	55,275
Derivative asset, fair value	$ 6,781	$ 1,618

DERIVATIVES, Mortgage Banking Derivatives (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Other Assets [Member] \| Interest Rate Swap [Member]
Notional amount and fair value of mortgage banking derivatives in Consolidated Balance Sheets [Abstract]
Cash collateral advanced to offset liability position	$ 1,100
Other Liabilities [Member] \| Cash Flow Hedging [Member]
Notional amount and fair value of mortgage banking derivatives in Consolidated Balance Sheets [Abstract]
Cash collateral received to offset asset derivative positions	5,500
Mortgage Forward Contracts [Member] \| Other Assets [Member]
Notional amount and fair value of mortgage banking derivatives in Consolidated Balance Sheets [Abstract]
Cash collateral advanced to offset liability position	440
Mortgage Banking [Member] \| Other Assets [Member]
Notional amount and fair value of mortgage banking derivatives in Consolidated Balance Sheets [Abstract]
Derivative asset, notional amount	214,670	$ 210,716
Derivative asset, fair value	6,204	5,115
Mortgage Banking [Member] \| Other Liabilities [Member]
Notional amount and fair value of mortgage banking derivatives in Consolidated Balance Sheets [Abstract]
Derivative liability, notional amount	202,497	203,669
Derivative liability, fair value	1,888	1,787
Mortgage Banking [Member] \| Forward Contracts [Member] \| Other Assets [Member]
Notional amount and fair value of mortgage banking derivatives in Consolidated Balance Sheets [Abstract]
Derivative asset, notional amount	0	0
Derivative asset, fair value	0	0
Mortgage Banking [Member] \| Forward Contracts [Member] \| Other Liabilities [Member]
Notional amount and fair value of mortgage banking derivatives in Consolidated Balance Sheets [Abstract]
Derivative liability, notional amount	202,497	203,669
Derivative liability, fair value	1,888	1,787
Mortgage Banking [Member] \| Interest Rate Lock Commitments [Member] \| Other Assets [Member]
Notional amount and fair value of mortgage banking derivatives in Consolidated Balance Sheets [Abstract]
Derivative asset, notional amount	214,670	210,716
Derivative asset, fair value	6,204	5,115
Mortgage Banking [Member] \| Interest Rate Lock Commitments [Member] \| Other Liabilities [Member]
Notional amount and fair value of mortgage banking derivatives in Consolidated Balance Sheets [Abstract]
Derivative liability, notional amount	0	0
Derivative liability, fair value	$ 0	$ 0

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Basic [Abstract]
Net income	$ 15,160	$ 7,083
Weighted average common shares outstanding - basic (in shares)	18,069,186	18,043,105
Effect of dilutive securities [Abstract]
Stock-based compensation awards (in shares)	441,934	418,817
Weighted average common shares outstanding - diluted (in shares)	18,511,120	18,461,922
Basic earnings per share (in dollars per share)	$ 0.84	$ 0.39
Diluted earnings per share (in dollars per share)	$ 0.82	$ 0.38

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended
SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Financial results by reportable segments [Abstract]
Net interest income	$ 29,544	$ 30,199
Provision for loan loss	(89)	(6,234)
Noninterest income	26,500	18,875
Noninterest expense	(37,057)	(34,011)
Income before income taxes	18,898	8,829
Income tax (expense) benefit	(3,738)	(1,746)
Net income (loss)	15,160	7,083
Banking [Member] \| Operating Segments [Member]
Financial results by reportable segments [Abstract]
Net interest income	29,544	30,199
Provision for loan loss	(89)	(6,234)
Noninterest income	25,417	17,761
Noninterest expense	(35,955)	(32,831)
Income before income taxes	18,917	8,895
Income tax (expense) benefit	(3,741)	(1,758)
Net income (loss)	15,176	7,137
Insurance [Member] \| Operating Segments [Member]
Financial results by reportable segments [Abstract]
Net interest income	0	0
Provision for loan loss	0	0
Noninterest income	1,083	1,114
Noninterest expense	(1,102)	(1,180)
Income before income taxes	(19)	(66)
Income tax (expense) benefit	3	12
Net income (loss)	$ (16)	$ (54)

FAIR VALUE DISCLOSURES, Assets (Liabilities) Measured at Fair Value on Recurring and Non-Recurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Securities available for sale [Abstract]
Securities available for sale	$ 777,208	$ 803,087
U.S. Government and Agencies [Member]
Securities available for sale [Abstract]
Securities available for sale	0	4,753
State and Municipal [Member]
Securities available for sale [Abstract]
Securities available for sale	268,787	272,607
Mortgage-Backed Securities [Member]
Securities available for sale [Abstract]
Securities available for sale	357,651	373,362
Collateralized Mortgage Obligations [Member]
Securities available for sale [Abstract]
Securities available for sale	106,628	106,715
Other Securities [Member]
Securities available for sale [Abstract]
Securities available for sale	12,229	12,078
Recurring [Member]
Securities available for sale [Abstract]
Asset-backed and other amortizing securities	31,913	33,572
Loans held for sale (mandatory)	83,882	80,174
Mortgage servicing rights	13,558	9,049
Asset derivatives	12,985	6,734
Liability derivatives	(2,505)	(4,357)
Recurring [Member] \| U.S. Government and Agencies [Member]
Securities available for sale [Abstract]
Securities available for sale	0	4,753
Recurring [Member] \| State and Municipal [Member]
Securities available for sale [Abstract]
Securities available for sale	268,787	272,607
Recurring [Member] \| Mortgage-Backed Securities [Member]
Securities available for sale [Abstract]
Securities available for sale	357,651	373,362
Recurring [Member] \| Collateralized Mortgage Obligations [Member]
Securities available for sale [Abstract]
Securities available for sale	106,628	106,715
Recurring [Member] \| Other Securities [Member]
Securities available for sale [Abstract]
Securities available for sale	12,229	12,078
Recurring [Member] \| Level 1 [Member]
Securities available for sale [Abstract]
Asset-backed and other amortizing securities	0	0
Loans held for sale (mandatory)	0	0
Mortgage servicing rights	0	0
Asset derivatives	0	0
Liability derivatives	0	0
Recurring [Member] \| Level 1 [Member] \| U.S. Government and Agencies [Member]
Securities available for sale [Abstract]
Securities available for sale	0	0
Recurring [Member] \| Level 1 [Member] \| State and Municipal [Member]
Securities available for sale [Abstract]
Securities available for sale	0	0
Recurring [Member] \| Level 1 [Member] \| Mortgage-Backed Securities [Member]
Securities available for sale [Abstract]
Securities available for sale	0	0
Recurring [Member] \| Level 1 [Member] \| Collateralized Mortgage Obligations [Member]
Securities available for sale [Abstract]
Securities available for sale	0	0
Recurring [Member] \| Level 1 [Member] \| Other Securities [Member]
Securities available for sale [Abstract]
Securities available for sale	0	0
Recurring [Member] \| Level 2 [Member]
Securities available for sale [Abstract]
Asset-backed and other amortizing securities	31,913	33,572
Loans held for sale (mandatory)	83,882	80,174
Mortgage servicing rights	0	0
Asset derivatives	12,985	6,734
Liability derivatives	(2,505)	(4,357)
Recurring [Member] \| Level 2 [Member] \| U.S. Government and Agencies [Member]
Securities available for sale [Abstract]
Securities available for sale	0	4,753
Recurring [Member] \| Level 2 [Member] \| State and Municipal [Member]
Securities available for sale [Abstract]
Securities available for sale	268,787	272,607
Recurring [Member] \| Level 2 [Member] \| Mortgage-Backed Securities [Member]
Securities available for sale [Abstract]
Securities available for sale	357,651	373,362
Recurring [Member] \| Level 2 [Member] \| Collateralized Mortgage Obligations [Member]
Securities available for sale [Abstract]
Securities available for sale	106,628	106,715
Recurring [Member] \| Level 2 [Member] \| Other Securities [Member]
Securities available for sale [Abstract]
Securities available for sale	12,229	12,078
Recurring [Member] \| Level 3 [Member]
Securities available for sale [Abstract]
Asset-backed and other amortizing securities	0	0
Loans held for sale (mandatory)	0	0
Mortgage servicing rights	13,558	9,049
Asset derivatives	0	0
Liability derivatives	0	0
Recurring [Member] \| Level 3 [Member] \| U.S. Government and Agencies [Member]
Securities available for sale [Abstract]
Securities available for sale	0	0
Recurring [Member] \| Level 3 [Member] \| State and Municipal [Member]
Securities available for sale [Abstract]
Securities available for sale	0	0
Recurring [Member] \| Level 3 [Member] \| Mortgage-Backed Securities [Member]
Securities available for sale [Abstract]
Securities available for sale	0	0
Recurring [Member] \| Level 3 [Member] \| Collateralized Mortgage Obligations [Member]
Securities available for sale [Abstract]
Securities available for sale	0	0
Recurring [Member] \| Level 3 [Member] \| Other Securities [Member]
Securities available for sale [Abstract]
Securities available for sale	0	0
Nonrecurring [Member]
Assets measured at fair value on a non-recurring basis [Abstract]
Impaired loans	11,195	11,926
Other real estate owned	1,377	1,353
Nonrecurring [Member] \| Level 1 [Member]
Assets measured at fair value on a non-recurring basis [Abstract]
Impaired loans	0	0
Other real estate owned	0	0
Nonrecurring [Member] \| Level 2 [Member]
Assets measured at fair value on a non-recurring basis [Abstract]
Impaired loans	0	0
Other real estate owned	0	0
Nonrecurring [Member] \| Level 3 [Member]
Assets measured at fair value on a non-recurring basis [Abstract]
Impaired loans	11,195	11,926
Other real estate owned	$ 1,377	$ 1,353

FAIR VALUE DISCLOSURES, Quantitative Information about Non-Recurring Level 3 Fair Value Measurements (Details) $ in Thousands	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Third Party Appraisals or Inspections [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Impaired loans	$ 11,195	$ 11,926
Other real estate owned	$ 1,377	$ 1,353
Third Party Appraisals or Inspections [Member] \| Collateral Discounts and Selling Costs [Member] \| Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Impaired loans, discounts	0	0
Other real estate owned, discounts	0.15	0.15
Third Party Appraisals or Inspections [Member] \| Collateral Discounts and Selling Costs [Member] \| Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Impaired loans, discounts	1	1
Other real estate owned, discounts	0.66	0.66
Discounted Cash Flows [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Mortgage servicing rights	$ 13,558	$ 9,049
Discounted Cash Flows [Member] \| Conditional Prepayment Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Mortgage servicing rights, discounts	0.0578	0.0448
Discounted Cash Flows [Member] \| Discount Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Mortgage servicing rights, discounts	0.0968	0.0972

FAIR VALUE DISCLOSURES, Estimated Fair Values, and Related Carrying Amounts (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Carrying Amount [Member]
Financial assets [Abstract]
Cash and cash equivalents	$ 413,406	$ 300,307
Loans, net	2,197,657	2,176,030
Accrued interest receivable	11,277	15,233
Bank-owned life insurance	71,061	70,731
Financial liabilities [Abstract]
Deposits	3,155,632	2,974,351
Accrued interest payable	1,480	2,113
Notes payable & other borrowings	25,000	75,000
Junior subordinated deferrable interest debentures	46,393	46,393
Subordinated debt securities	75,635	75,589
Fair Value [Member]
Financial assets [Abstract]
Cash and cash equivalents	413,406	300,307
Loans, net	2,200,173	2,179,573
Accrued interest receivable	11,277	15,233
Bank-owned life insurance	71,061	70,731
Financial liabilities [Abstract]
Deposits	3,158,150	2,979,439
Accrued interest payable	1,480	2,113
Notes payable & other borrowings	25,000	75,000
Junior subordinated deferrable interest debentures	45,690	45,690
Subordinated debt securities	77,799	76,889
Level 1 [Member]
Financial assets [Abstract]
Cash and cash equivalents	413,406	300,307
Loans, net	0	0
Accrued interest receivable	0	0
Bank-owned life insurance	0	0
Financial liabilities [Abstract]
Deposits	2,974,868	2,649,830
Accrued interest payable	0	0
Notes payable & other borrowings	0	0
Junior subordinated deferrable interest debentures	0	0
Subordinated debt securities	0	0
Level 2 [Member]
Financial assets [Abstract]
Cash and cash equivalents	0	0
Loans, net	0	0
Accrued interest receivable	11,277	15,233
Bank-owned life insurance	71,061	70,731
Financial liabilities [Abstract]
Deposits	183,282	329,609
Accrued interest payable	1,480	2,113
Notes payable & other borrowings	25,000	75,000
Junior subordinated deferrable interest debentures	45,690	45,690
Subordinated debt securities	77,799	76,889
Level 3 [Member]
Financial assets [Abstract]
Cash and cash equivalents	0	0
Loans, net	2,200,173	2,179,573
Accrued interest receivable	0	0
Bank-owned life insurance	0	0
Financial liabilities [Abstract]
Deposits	0	0
Accrued interest payable	0	0
Notes payable & other borrowings	0	0
Junior subordinated deferrable interest debentures	0	0
Subordinated debt securities	$ 0	$ 0

BUSINESS COMBINATIONS, Windmark (Details) - Windmark Insurance Agency, Inc. [Member] - Crop Insurance Agency in Nebraska [Member] $ in Thousands	1 Months Ended
	Jun. 30, 2020 USD ($)
Assets Acquired and Liabilities Assumed [Abstract]
Cash paid	$ 687
Assets acquired [Abstract]
Premises and equipment, net	24
Total assets acquired	687
Customer List [Member]
Assets acquired [Abstract]
Intangible assets	512
Other Intangible Assets [Member]
Assets acquired [Abstract]
Intangible assets	$ 151

LOANS, Summary of Internal Classifications of Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Loans by Internal Classifications [Abstract]
Loans	$ 2,242,676	$ 2,221,583
Pass [Member]
Loans by Internal Classifications [Abstract]
Loans	2,159,433	2,135,565
Special Mention [Member]
Loans by Internal Classifications [Abstract]
Loans	0	0
Substandard [Member]
Loans by Internal Classifications [Abstract]
Loans	83,243	86,018
Doubtful [Member]
Loans by Internal Classifications [Abstract]
Loans	0	0
Commercial Real Estate [Member]
Loans by Internal Classifications [Abstract]
Loans	673,985	663,344
Commercial Real Estate [Member] \| Pass [Member]
Loans by Internal Classifications [Abstract]
Loans	615,513	602,250
Commercial Real Estate [Member] \| Special Mention [Member]
Loans by Internal Classifications [Abstract]
Loans	0	0
Commercial Real Estate [Member] \| Substandard [Member]
Loans by Internal Classifications [Abstract]
Loans	58,472	61,094
Commercial Real Estate [Member] \| Doubtful [Member]
Loans by Internal Classifications [Abstract]
Loans	0	0
Commercial [Member] \| Specialized [Member]
Loans by Internal Classifications [Abstract]
Loans	279,389	311,686
Commercial [Member] \| Specialized [Member] \| Pass [Member]
Loans by Internal Classifications [Abstract]
Loans	271,286	303,831
Commercial [Member] \| Specialized [Member] \| Special Mention [Member]
Loans by Internal Classifications [Abstract]
Loans	0	0
Commercial [Member] \| Specialized [Member] \| Substandard [Member]
Loans by Internal Classifications [Abstract]
Loans	8,103	7,855
Commercial [Member] \| Specialized [Member] \| Doubtful [Member]
Loans by Internal Classifications [Abstract]
Loans	0	0
Commercial [Member] \| General [Member]
Loans by Internal Classifications [Abstract]
Loans	531,303	518,309
Commercial [Member] \| General [Member] \| Pass [Member]
Loans by Internal Classifications [Abstract]
Loans	524,021	510,543
Commercial [Member] \| General [Member] \| Special Mention [Member]
Loans by Internal Classifications [Abstract]
Loans	0	0
Commercial [Member] \| General [Member] \| Substandard [Member]
Loans by Internal Classifications [Abstract]
Loans	7,282	7,766
Commercial [Member] \| General [Member] \| Doubtful [Member]
Loans by Internal Classifications [Abstract]
Loans	0	0
Consumer [Member] \| 1-4 Family Residential [Member]
Loans by Internal Classifications [Abstract]
Loans	362,571	360,315
Consumer [Member] \| 1-4 Family Residential [Member] \| Pass [Member]
Loans by Internal Classifications [Abstract]
Loans	355,481	352,930
Consumer [Member] \| 1-4 Family Residential [Member] \| Special Mention [Member]
Loans by Internal Classifications [Abstract]
Loans	0	0
Consumer [Member] \| 1-4 Family Residential [Member] \| Substandard [Member]
Loans by Internal Classifications [Abstract]
Loans	7,090	7,385
Consumer [Member] \| 1-4 Family Residential [Member] \| Doubtful [Member]
Loans by Internal Classifications [Abstract]
Loans	0	0
Consumer [Member] \| Auto Loans [Member]
Loans by Internal Classifications [Abstract]
Loans	219,977	205,840
Consumer [Member] \| Auto Loans [Member] \| Pass [Member]
Loans by Internal Classifications [Abstract]
Loans	218,385	204,301
Consumer [Member] \| Auto Loans [Member] \| Special Mention [Member]
Loans by Internal Classifications [Abstract]
Loans	0	0
Consumer [Member] \| Auto Loans [Member] \| Substandard [Member]
Loans by Internal Classifications [Abstract]
Loans	1,592	1,539
Consumer [Member] \| Auto Loans [Member] \| Doubtful [Member]
Loans by Internal Classifications [Abstract]
Loans	0	0
Consumer [Member] \| Other Consumer [Member]
Loans by Internal Classifications [Abstract]
Loans	67,644	67,595
Consumer [Member] \| Other Consumer [Member] \| Pass [Member]
Loans by Internal Classifications [Abstract]
Loans	67,327	67,216
Consumer [Member] \| Other Consumer [Member] \| Special Mention [Member]
Loans by Internal Classifications [Abstract]
Loans	0	0
Consumer [Member] \| Other Consumer [Member] \| Substandard [Member]
Loans by Internal Classifications [Abstract]
Loans	317	379
Consumer [Member] \| Other Consumer [Member] \| Doubtful [Member]
Loans by Internal Classifications [Abstract]
Loans	0	0
Construction [Member]
Loans by Internal Classifications [Abstract]
Loans	107,807	94,494
Construction [Member] \| Pass [Member]
Loans by Internal Classifications [Abstract]
Loans	107,420	94,494
Construction [Member] \| Special Mention [Member]
Loans by Internal Classifications [Abstract]
Loans	0	0
Construction [Member] \| Substandard [Member]
Loans by Internal Classifications [Abstract]
Loans	387	0
Construction [Member] \| Doubtful [Member]
Loans by Internal Classifications [Abstract]
Loans	$ 0	$ 0