0001140361-22-008216 | 10-K | XBRL Viewer | South Plains Financial INC

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CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Cash and due from banks	$ 68,425	$ 76,146
Interest-bearing deposits in banks	418,396	224,161
Cash and cash equivalents	486,821	300,307
Securities available for sale	724,504	803,087
Loans held for sale	76,507	111,477
Loans held for investment	2,437,577	2,221,583
Allowance for loan losses	(42,098)	(45,553)
Loans held for investment, net	2,395,479	2,176,030
Accrued interest receivable	13,900	15,233
Premises and equipment, net	57,699	60,331
Bank-owned life insurance	71,978	70,731
Goodwill	19,508	19,508
Intangible assets, net	5,895	7,562
Mortgage servicing rights	19,700	9,049
Deferred tax asset, net	3,038	2,461
Other assets	26,826	23,384
Total assets	3,901,855	3,599,160
Deposits:
Noninterest-bearing	1,071,367	917,322
Interest-bearing	2,269,855	2,057,029
Total deposits	3,341,222	2,974,351
Short-term borrowings	0	26,550
Accrued expenses and other liabilities	31,038	31,229
Notes payable & other borrowings	0	75,000
Subordinated debt securities	75,775	75,589
Junior subordinated deferrable interest debentures	46,393	46,393
Total liabilities	3,494,428	3,229,112
Commitments and contingencies
Stockholders' equity:
Common stock, $1 par value, 30,000,000 shares authorized; 17,760,243 issued in 2021 and 18,076,364 issued in 2020	17,760	18,076
Additional paid-in capital	133,215	141,112
Retained earnings	242,750	189,521
Accumulated other comprehensive income	13,702	21,339
Total stockholders' equity	407,427	370,048
Total liabilities and stockholders' equity	$ 3,901,855	$ 3,599,160

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares issued (in shares)	17,760,243	18,076,364

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Interest income:
Loans, including fees	$ 120,540	$ 121,733	$ 116,904
Securities:
Taxable	9,445	12,267	8,890
Non taxable	4,639	3,546	1,018
Federal funds sold and interest-bearing deposits in banks	412	685	6,130
Total interest income	135,036	138,231	132,942
Interest expense:
Deposits	8,293	11,894	22,491
Notes payable & other borrowings	43	662	2,314
Subordinated debt securities	4,056	2,223	1,616
Junior subordinated deferrable interest debentures	880	1,167	1,946
Total interest expense	13,272	15,946	28,367
Net interest income	121,764	122,285	104,575
Provision for loan losses	(1,918)	25,570	2,799
Net interest income, after provision for loan losses	123,682	96,715	101,776
Noninterest income:
Service charges on deposit accounts	6,963	7,032	8,129
Income from insurance activities	8,314	7,644	7,016
Net gain on sales of loans	51,184	63,531	23,521
Bank card services and interchange fees	12,239	10,035	8,692
Realized gain on sale of securities	0	2,318	0
Investment commissions	1,934	1,698	1,710
Fiduciary fees	2,917	3,185	2,306
Other	13,918	6,160	5,259
Total noninterest income	97,469	101,603	56,633
Noninterest expense:
Salaries and employee benefits	93,360	89,220	75,392
Occupancy and equipment, net	14,560	14,658	13,572
Professional services	6,752	6,322	7,334
Marketing and development	3,225	3,088	3,017
IT and data services	4,007	3,574	2,830
Bank card expenses	4,995	4,253	3,346
Appraisal expenses	3,248	2,782	1,625
Other	17,883	17,818	14,592
Total noninterest expense	148,030	141,715	121,708
Income before income taxes	73,121	56,603	36,701
Income tax expense	14,507	11,250	7,481
Net income	$ 58,614	$ 45,353	$ 29,220
Earnings per share:
Basic (in dollars per share)	$ 3.26	$ 2.51	$ 1.74
Diluted (in dollars per share)	$ 3.17	$ 2.47	$ 1.71
Net income	$ 58,614	$ 45,353	$ 29,220
Other comprehensive income:
Change in net unrealized gain (loss) on securities available for sale	(15,479)	28,193	4,025
Change in net gain (loss) on cash flow hedges	5,812	(76)	0
Reclassification adjustment for (gain) loss included in net income	0	(2,318)	28
Tax effect	2,030	(5,418)	(852)
Other comprehensive income (loss)	(7,637)	20,381	3,201
Comprehensive income	$ 50,977	$ 65,734	$ 32,421

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]	Less: ESOP Owned Shares [Member]	Total	Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Accumulated Other Comprehensive Income (Loss) [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Less: ESOP Owned Shares [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]
Balance at Dec. 31, 2018	$ 14,772	$ 80,412	$ 119,834	$ (2,243)	$ (58,195)	$ 154,580
Balance (in shares) at Dec. 31, 2018	14,771,520
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net	$ 3,207	48,185	0	0	0	51,392
Issuance of common stock, net (in shares)	3,207,000
Net income	$ 0	0	29,220	0	0	29,220
Cash dividends declared	0	0	(1,079)	0	0	(1,079)
Other comprehensive income (loss), (net of tax)	0	0	0	3,201	0	3,201
Terminated ESOP put option	0	0	0	0	58,195	58,195
Exercise of employee stock options, net of shares for cashless exercise and net of shares for taxes	$ 57	(408)	0	0	0	(351)
Exercise of employee stock options, net of shares for cashless exercise and net of shares for taxes (in shares)	57,595
Stock-based compensation	$ 0	853	0	0	0	853
Share-based liability awards modified to equity awards	0	11,450	0	0	0	11,450
Balance at Dec. 31, 2019	$ 18,036	140,492	146,696	958	0	306,182	$ 0	$ 0	$ (1,279)	$ 0	$ 0	$ (1,279)
Balance (in shares) at Dec. 31, 2019	18,036,115
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 0	0	45,353	0	0	45,353
Cash dividends declared	0	0	(2,528)	0	0	(2,528)
Other comprehensive income (loss), (net of tax)	0	0	0	20,381	0	20,381
Exercise of employee stock options, net of shares for cashless exercise and net of shares for taxes	$ 59	(378)	0	0	0	(319)
Exercise of employee stock options, net of shares for cashless exercise and net of shares for taxes (in shares)	59,284
Repurchases of common stock	$ (19)	(274)	0	0	0	(293)
Repurchases of common stock (in shares)	(19,035)
Stock-based compensation	$ 0	1,272	0	0	0	1,272
Balance at Dec. 31, 2020	$ 18,076	141,112	189,521	21,339	0	370,048
Balance (in shares) at Dec. 31, 2020	18,076,364
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 0	0	58,614	0	0	58,614
Cash dividends declared	0	0	(5,385)	0	0	(5,385)
Other comprehensive income (loss), (net of tax)	0	0	0	(7,637)	0	(7,637)
Exercise of employee stock options, net of shares for cashless exercise and net of shares for taxes	$ 77	(702)	0	0	0	(625)
Exercise of employee stock options, net of shares for cashless exercise and net of shares for taxes (in shares)	77,408
Repurchases of common stock	$ (393)	(8,834)	0	0	0	(9,227)
Repurchases of common stock (in shares)	(393,529)
Stock-based compensation	$ 0	1,639	0	0	0	1,639
Balance at Dec. 31, 2021	$ 17,760	$ 133,215	$ 242,750	$ 13,702	$ 0	$ 407,427
Balance (in shares) at Dec. 31, 2021	17,760,243

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY [Abstract]
Cash dividends, common (in dollars per share)	$ 0.30	$ 0.14	$ 0.06
Exercise of employee stock options, shares for cashless exercise (in shares)	82,004	69,855	111,011
Exercise of employee stock options, shares for taxes (in shares)	23,559	17,762	18,894

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 58,614	$ 45,353	$ 29,220
Adjustments to reconcile net income to net cash from operating activities:
Provision for loan losses	(1,918)	25,570	2,799
Depreciation and amortization	6,436	6,575	5,225
Net amortization of premium on investment securities	4,513	3,166	252
Other gains, net	(729)	(2,539)	40
Net gain on sales of loans	(51,184)	(63,531)	(23,521)
Proceeds from sales of loans held for sale	1,577,953	1,434,173	652,216
Loans originated for sale	(1,500,995)	(1,442,913)	(640,680)
Earnings on bank-owned life insurance	(1,247)	(1,334)	(1,293)
Stock-based compensation	1,639	1,272	853
Change in valuation of mortgage servicing rights	(1,455)	2,834	548
Net change in:
Accrued interest receivable and other assets	244	(4,610)	321
Accrued expenses and other liabilities	4,400	1,611	4,504
Net cash from operating activities	96,271	5,627	30,484
Activity in securities available for sale:
Purchases	(61,548)	(279,727)	(489,032)
Sales	0	94,514	52,495
Maturities, prepayments, and calls	120,325	114,850	139,255
Loan originations and principal collections, net	(218,458)	(84,991)	5,572
Cash paid for acquisition	0	(687)	0
Net cash received in business combinations	0	0	78,171
Goodwill adjustment related to litigation settlement	0	460	0
Purchases of premises and equipment, net	(2,920)	(3,310)	(3,997)
Proceeds from sales of premises and equipment	1,458	222	208
Proceeds from sales of foreclosed assets	1,302	2,441	3,835
Net cash from investing activities	(159,841)	(156,228)	(213,493)
Cash flows from financing activities:
Net change in deposits	366,871	277,494	33,227
Net change in short-term borrowings	(26,550)	(10,615)	19,460
Proceeds from common stock issuance, net	0	0	51,392
Proceeds from subordinated debt issuance, net	0	49,070	0
Proceeds from notes payable and other borrowings	0	75,000	(351)
Payments to tax authorities for stock-based compensation	(625)	(319)	0
Payments made on notes payable and other borrowings	(75,000)	(95,000)	(7,530)
Cash dividends on common stock	(5,385)	(2,528)	(1,079)
Payments to repurchase common stock	(9,227)	(293)	0
Net cash from financing activities	250,084	292,809	95,119
Net change in cash and cash equivalents	186,514	142,208	(87,890)
Beginning cash and cash equivalents	300,307	158,099	245,989
Ending cash and cash equivalents	486,821	300,307	158,099
Supplemental disclosures of cash flow information:
Interest paid on deposits and borrowed funds	13,471	16,116	28,125
Income taxes paid	12,400	13,513	6,474
Supplemental schedule of noncash activities:
Loans transferred to foreclosed assets	927	1,867	2,452
Business combination measurement period adjustment	0	1,211	0
Additions to mortgage servicing rights	$ 9,196	$ 9,829	$ 1,332

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 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.	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 (“CFS”) 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 Company’s CFS are prepared and presented in accordance with generally accepted accounting principles (“GAAP”) in the U.S. Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) constitutes U.S. GAAP for nongovernmental entities.

The Company evaluated subsequent events for potential recognition and/or disclosure through the date the CFS were available to be issued.

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 valuation of foreclosed assets, stock-based compensation and fair values of financial instruments can also involve significant management estimates.

Change in Capital Structure – On March 11, 2019, the Company amended and restated its Certificate of Formation. The Amended and Restated Certificate of Formation increased the number of authorized shares of common stock, par value $1.00 per share, from 1,000,000 to 30,000,000.

The Company completed a 29-to-1 stock split of the Company’s outstanding shares of common stock for shareholders of record as of March 11, 2019. The stock split was payable in the form of a dividend on or about March 11, 2019. Shareholders received 29 additional shares for each share held as of the record date. All share and per share amounts in the CFS have been retroactively adjusted to reflect this stock split for all periods presented.

Stock Offering – The Company consummated the underwritten initial public offering of its common stock in May 2019. In connection with the initial public offering, the Company issued and sold 3,207,000 shares of its common stock, including 507,000 shares of common stock pursuant to the underwriters’ full exercise of their option to purchase additional shares at a public offering price of $17.50 per share, for aggregate gross proceeds of $56.1 million before deducting underwriting discounts and offering expenses, for aggregate net proceeds of $51.4 million.

Concentration of Credit Risk – The bank subsidiary is primarily involved in real estate, commercial, agricultural, and consumer lending activities with customers throughout Texas and Eastern New Mexico. Although the bank subsidiary has a diversified portfolio, its debtors’ ability to honor their contracts is substantially dependent upon the general economic conditions of the region which consist primarily of agribusiness, wholesale/retail, oil and gas and related business, healthcare industries, and institutions of higher education.

Risks and Uncertainties – The full extent of the operational and financial impact the ongoing COVID-19 pandemic may have on the Company is not known and is dependent on its duration and spread, any related operational restrictions and the overall economy. The Company is unable to accurately predict how COVID-19 will affect the results of its operations because the virus’s severity and the duration of the pandemic are uncertain.

Comprehensive Income – Comprehensive income is comprised of net income or loss and other comprehensive income or loss (“OCI”). Relevant examples of OCI items are unrealized holding gains and losses on securities available for sale, subsequent decreases (if not an other-than-temporary impairment) or increases in the fair value of securities available for sale previously written down as impaired, and net gains and losses on cash flow hedges.

Cash and Cash Equivalents – The Company includes all cash on hand, balances due from other banks, and federal funds sold, all of which have original maturities within three months, as cash and cash equivalents in the accompanying CFS. Federal regulations require the bank subsidiary to set aside specified amounts of cash as reserves against transaction and time deposits, which fluctuate daily. These reserves may be held as cash on hand or on deposit with a district Federal Reserve Bank. Management believes that the bank subsidiary complies with these requirements.

Securities – Investment securities may be classified into trading, held to maturity (“HTM”) or available for sale (“AFS”) portfolios. Securities that are held principally for resale in the near term are classified as trading. Securities that management has the ability and positive intent to hold to maturity are classified as HTM and recorded at amortized cost. Securities not classified as trading or HTM are AFS and are reported at fair value with unrealized gains and losses excluded from earnings, but included in the determination of OCI. Management uses these assets as part of its asset/liability management strategy; they may be sold in response to changes in liquidity needs, interest rates, resultant prepayment risk changes, and other factors. Management determines the appropriate classification of securities at the time of purchase. Purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities. Realized gains and losses and declines in value judged to be other-than-temporary are included in gain (loss) on sale of securities. The cost of securities sold is based on the specific identification method.

When the fair value of a security is below its amortized cost, additional analysis is performed to determine whether an other-than-temporary impairment condition exists. The analysis considers (i) whether there is intent to sell securities prior to recovery and/or maturity, (ii) whether it is more likely than not that securities will have to be sold prior to recovery and/or maturity, and (iii) whether there is a credit loss component to the impairment. Often, the information available to conduct these assessments is limited and rapidly changing, making estimates of fair value subject to judgment. If actual information or conditions are different than estimated, the extent of the impairment of a security may be different than previously estimated, which could have a material effect on the Company’s results of operations and financial condition.

Nonmarketable Equity Securities – Securities with limited marketability, such as stock in the Federal Home Loan Bank of Dallas (“FHLB”), are carried at cost and are reported in other assets. The Company monitors its investment in FHLB stock for impairment through a review of recent financial results of the FHLB including reviewing the capital adequacy and liquidity position. The Company has not identified any indicators of impairment of FHLB stock.

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 the Company’s loan portfolio 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 Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“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.

Mortgage Servicing Rights – When mortgage loans are sold with servicing retained, servicing rights are initially recorded at fair value with the income statement effect recorded in net gain on sale of loans. Fair value is based on market prices for comparable mortgage servicing contracts, when available, or alternatively, is based on a valuation model that calculates present value of estimated future servicing income.

Under the fair value measurement method, the Company measures servicing rights at fair value at each reporting date and reports change in fair value of servicing assets in earnings in the period in which the changes occur, and are included with other noninterest income in the CFS. The fair values of servicing rights are subject to significant fluctuations as a result of changes in estimated and actual prepayment speeds and default rates and losses.

Servicing fee income, which is reported in the CFS as other noninterest income, is recorded for fees earned for servicing loans. The fees are based on a contractual percentage of the outstanding principal or a fixed amount per loan and recorded when income is earned. Servicing income was $3.1 million, $781 thousand, and $325 thousand for the years ended December 31, 2021, 2020, and 2019, respectively.

Transfers of Financial Assets – Transfers of financial assets are accounted for as sales, when control over the assets has been relinquished. Control over transferred assets is deemed to be surrendered when the assets have been isolated from the Company, the transferee obtains the right to pledge or exchange the transferred assets, and the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before maturity.

Loans Held for Sale – Loans held for sale are comprised of residential mortgage loans. Loans that are originated for best efforts delivery are carried at the lower of aggregate cost or fair value as determined by aggregate outstanding commitments from investors or current investor yield requirements. All other loans held for sale are carried at fair value. Loans sold are typically subject to certain indemnification provisions with the investor; management does not believe these provisions will have any significant consequences.

Premises and Equipment – Land is carried at cost. Buildings and equipment are carried at cost, less accumulated depreciation computed on the straight-line method. Buildings and improvements are depreciated on a useful life up to 40 years. Furniture and equipment are depreciated on a useful life between 3 to 10 years.

Foreclosed Assets – Assets acquired through, or in lieu of, loan foreclosure or repossession are held for sale and are initially recorded at fair value less estimated selling costs when acquired, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of the cost basis or fair value less estimated costs to sell. Revenue and expenses from operations and changes in the valuation allowance are included in other noninterest expense.

Bank-Owned Life Insurance – The bank subsidiary has purchased life insurance policies on various officers and also is the beneficiary. These policies are issued by third party insurance companies. Assets are carried at the cash surrender value and changes in the cash surrender values are recognized in other noninterest income in the accompanying CFS.

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 years ended December 31, 2021, 2020 and 2019, 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 using the straight-line method.

Mortgage Banking Derivatives – Commitments to fund mortgage loans (interest rate locks) to be sold into the secondary market, forward commitments for the future delivery of these mortgage loans, and forward sales of mortgage-backed securities are accounted for as free standing derivatives. At the time of the interest rate lock, the Company determines whether the loan will be sold through a best efforts contract or a mandatory delivery contract.

In order to hedge the change in interest rates resulting from the commitments to fund the loans that will be sold through a best efforts contract, the Company enters into forward loans sales commitments for the future delivery of mortgage loans when interest rate locks are entered. At inception, these interest rate locks and the related forward loan sales commitments, adjusted for the expected exercise of the commitment before the loan is funded, are recorded with a zero value. Subsequent changes in fair value are estimated based on changes in mortgage interest rates from the date the interest on the loan is locked.

In order to hedge the change in interest rates resulting from all other mortgage commitments to funds loans, the Company enters into forward sales of mortgage-backed securities contracts. At inception, these interest rate locks are recorded at fair value and are adjusted for the expected exercise of the commitment before the loan is funded. Subsequent changes in fair value are estimated based on changes in mortgage interest rates from the date the interest on the loan is locked. Changes in the fair values of these derivatives are included in net gain on sales of loans in the CFS.

Derivatives – At the inception of a derivative contract, the Company designates the derivative as one of three types based on the Company’s intentions and belief as to likely effectiveness as a hedge. These three types are (1) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (“fair value hedge”), (2) a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability (“cash flow hedge”), or (3) an instrument with no hedging designation (“stand-alone derivative”). For a fair value hedge, the gain or loss on the derivative, as well as the offsetting loss or gain on the hedged item, are recognized in current earnings as fair values change. For a cash flow hedge, the gain or loss on the derivative is reported in other comprehensive income and is reclassified into earnings in the same periods during which the hedged transaction affects earnings. For both types of hedges, changes in the fair value of derivatives that are not highly effective in hedging the changes in fair value or expected cash flows of the hedged item are recognized immediately in current earnings. Changes in the fair value of derivatives that do not qualify for hedge accounting are reported currently in earnings, as noninterest income.

Net cash settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Net cash settlements on derivatives that do not qualify for hedge accounting are reported in noninterest income. Cash flows on hedges are classified in the cash flow statement the same as the cash flows of the items being hedged.

The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in fair values or cash flows of the hedged items. The Company discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of the hedged item, the derivative is settled or terminates, a hedged forecasted transaction is no longer probable, a hedged firm commitment is no longer firm, or treatment of the derivative as a hedge is no longer appropriate or intended.

When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as noninterest income. When a fair value hedge is discontinued, the hedged asset or liability is no longer adjusted for changes in fair value and the existing basis adjustment is amortized or accreted over the remaining life of the asset or liability. When a cash flow hedge is discontinued but the hedged cash flows or forecasted transactions are still expected to occur, gains or losses that were accumulated in other comprehensive income are amortized into earnings over the same periods which the hedged transactions will affect earnings.

Revenue Recognition – The majority of the Company’s revenues come from interest income and other sources, including loans, securities and derivatives, that are outside the scope of ASC 606. The Company’s services that fall within the scope of Topic 606 are presented within Noninterest Income and are recognized as revenue as the Company satisfies its obligation to the customer. Services within the scope of Topic 606 include service charges on deposit accounts, bank card services and interchange fees, investment commissions, fiduciary fees, and the sale of OREO. However, the recognition of these revenue streams did not change significantly upon the adoption of Topic 606. Substantially all of the Company’s revenue is generated from contracts with customers. Noninterest income streams within the scope of Topic 606 are discussed below.

Service Charges on Deposit Accounts

The Company earns fees from its deposit customers for transaction-based, account maintenance, and overdraft services. Transaction-based fees, which include services such as stop payment charges, statement rendering, and ACH fees, are recognized at the time the transaction is executed as that is the point in time the Company fulfills the customer’s request. Account maintenance fees, which relate primarily to monthly maintenance, are earned over the course of a month, representing the period over which the Company satisfies the performance obligation. Overdraft fees are recognized at the point in time that the overdraft occurs. Service charges on deposits are withdrawn from the customer’s account balance.

Bank Card Services and Interchange Fees

The Company earns bank card service and interchange fees from debit and credit cardholder transactions conducted through card payment networks. Interchange fees from cardholder transactions represent a percentage of the underlying transaction value and are recognized daily, concurrently with the transaction processing services provided to the cardholder. Bank card services income mainly represents fees charged to merchants to process their debit and credit card transactions, in addition to account management fees and service fees such as ATM use fees and are recognized at the time the transaction is executed.

Investment Commissions and Fiduciary Trust Fees

The Company earns investment commissions and fiduciary trust fees from its contracts with trust customers to manage assets for investment, and/or to transact on their accounts. These fees are primarily earned over time as the Company provides the contracted monthly or quarterly services and are generally assessed based on a tiered scale of the market value of assets under management (AUM) at month-end. Fees that are transaction based, including trade execution services, are recognized at the point in time that the transaction is executed, i.e., the trade date. Other related services provided include financial planning services and the fees the Company earns, which are based on a fixed fee schedule, are recognized when the services are rendered.

In addition, certain trust customers have contracted with the Company to provide trust dissolution services, which are based on a unitary management fee treated as a single performance obligation. The Company’s performance obligation is satisfied over time based on the customer simultaneously receiving and consuming the benefits of the Company’s service. The unitary management fee is treated as variable consideration and is evaluated and included in the transaction price at the end of each reporting period (quarterly). Revenue is recognized based on a reasonable time based measure of progress towards the Company’s complete satisfaction of the performance obligation at the end of each respective reporting period, with the unearned amount based on progress measure being included in deferred contract liability. This variable consideration and the amount of revenue recognized is evaluated quarterly until the Company has entirely fulfilled its performance obligation, at which time the remaining unearned revenue is recognized.

Gains/Losses on Sales of OREO

The Company records a gain or loss from the sale of OREO when control of the property transfers to the buyer, which generally occurs at the time of an executed deed. When the Company finances the sale of OREO to the buyer, the Company assesses whether the buyer is committed to perform their obligations under the contract and whether collectability of the transaction price is probable. Once these criteria are met, the OREO asset is derecognized and the gain or loss on sale is recorded upon the transfer of control of the property to the buyer. In determining the gain or loss on the sale, the Company adjusts the transaction price and related gain (loss) on sale if a significant financing component is present.

Contract Balances

A contract asset balance occurs when an entity performs a service for a customer before the customer pays consideration (resulting in a contract receivable) or before payment is due (resulting in a contract asset). A contract liability balance is an entity’s obligation to transfer a service to a customer for which the entity has already received payment (or payment is due) from the customer. The Company’s noninterest revenue streams are largely based on transactional activity, or standard month-end revenue accruals. Consideration is often received immediately or shortly after the Company satisfies its performance obligation and revenue is recognized. The Company does not typically enter into long-term revenue contracts with customers, and therefore, does not experience significant contract balances. The Company did not have any significant contract balances at December 31, 2021 and 2020.

Contract Acquisition Costs

In connection with the adoption of Topic 606, an entity is required to capitalize, and subsequently amortize into expense, certain incremental costs of obtaining a contract with a customer if these costs are expected to be recovered. The incremental costs of obtaining a contract are those costs that an entity incurs to obtain a contract with a customer that it would not have incurred if the contract had not been obtained (for example, sales commission). The Company utilizes the practical expedient which allows entities to immediately expense contract acquisition costs when the asset that would have resulted from capitalizing these costs would have been amortized in one year or less. Upon adoption of Topic 606, the Company did not capitalize any contract acquisition cost.

Insurance Activities

The Company’s primary source of revenues for insurance activities are commissions from underwriting enterprises, based on a percentage of premiums paid by clients. These commissions and fees revenues are substantially recognized at a point in time on the effective date of the associated policies when control of the policy transfers to the client. Commissions are fixed at the contract effective date and generally are based on a percentage of premiums for insurance coverage. Commissions depend upon a large number of factors, including the type of risk being placed, the particular underwriting enterprise’s demand, the expected loss experience of the particular risk of coverage, and historical benchmarks surrounding the level of effort necessary for us to place and service the insurance contract.

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 a closed form option valuation (“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.

Advertising – Advertising costs are recognized when incurred. Advertising costs during 2021, 2020, and 2019 were approximately $2.6 million, $2.6 million, and $2.2 million, respectively.

Income Taxes – The Company files a consolidated federal income tax return including the results of its wholly owned subsidiary, the Bank. The Company estimates income taxes payable based on the amount it expects to owe. Income tax expense is the total of the current year income tax due or refundable and the change in deferred tax assets and liabilities (excluding deferred tax assets and liabilities related to components of other comprehensive income). Deferred tax assets and liabilities are the expected future tax amounts for the temporary differences between carrying amounts and tax bases of assets and liabilities, computed using enacted tax rates. A valuation allowance, if needed, reduces deferred tax assets to the expected amount most likely to be realized. Realization of deferred tax assets is dependent upon the generation of a sufficient level of future taxable income. Although realization is not assured, management believes it is more likely than not that all of the deferred tax assets will be realized. Interest and/or penalties related to income taxes are reported as a component of income tax expense.

A tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded.

The State of Texas franchise tax is an income tax for financial reporting purposes under GAAP and the Company and its subsidiaries are subject to the modified tax as a combined group.

Earnings per Share – Basic earnings per share is net income divided by the weighted average number of common shares outstanding during the period. ESOP shares are considered outstanding for this calculation unless unearned. Diluted earnings per share includes the dilutive effect of unearned ESOP shares, if applicable. Diluted earnings per share includes the dilutive effect of additional potential shares issuable under stock options. Earnings and dividends per share are restated for all stock splits and stock dividends through the date of issuance of the financial statements.

Fair Values of Financial Instruments – Fair values of financial instruments are estimated using relevant market information and other assumptions, as more fully described in Note 21. Fair value estimates involve uncertainties and matters of significant judgment. Changes in assumptions or in market conditions could significantly affect estimates.

Trust Assets – Custodial assets of City Bank’s trust department, other than cash on deposit at City Bank, if any, are not included in the accompanying CFS because they are not assets of City Bank.

Segment Information – The Company has two reportable segments: banking and insurance. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The Company’s reportable segments are strategic business units that offer different products and services. Operations are managed and financial performance is evaluated on a Company-wide basis.

Reclassification – Certain amounts in the 2019 and 2020 CFS have been reclassified to conform to the 2021 presentation.

Change in Accounting Principle – Prior to January 1, 2019, the Company accounted for its cash-settled stock appreciation rights (“SARs”) using the intrinsic value method, as permitted by ASC 718. As a result of the Company listing its common stock on the NASDAQ Global Select Market and becoming a reporting company with the SEC, the Company was then required to use the fair value method for those SARs. The Company’s calculation of the fair value of the SARs, as of January 1, 2019, exceeded the recorded intrinsic value by $1.6 million. ASC 250 states that an “entity shall report a change in accounting principle through retrospective application of the new accounting principle to all prior periods, unless it is impracticable to do so.” Retrospective application of the effects of a change from the intrinsic value to fair value would be impracticable due to the need to objectively determine assumptions that would be used in prior periods without using current information. Additionally, SEC Staff Accounting Bulletin Topic 14.B states that entities changing from nonpublic to public status are not permitted to apply the fair-value-based method retrospectively. Therefore, the Company recorded a cumulative-effect adjustment to retained earnings for $1.3 million ($1.6 million net of $340 thousand in tax) effective January 1, 2019 and applied this change prospectively.

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. These amendments are effective for the Company for annual periods beginning after December 15, 2021, and interim periods beginning after December 15, 2022. Based upon an analysis performed, the Company estimates that the right-of-use asset and corresponding lease liability at adoption will be between $9.8 million and $10.7 million.

SECURITIES

12 Months Ended

Dec. 31, 2021

SECURITIES [Abstract]

SECURITIES

2.	SECURITIES

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

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
2021
Available for sale:
U.S. government and agencies	$	—	$	—	$	—		$	—
State and municipal		265,143		10,615		(86	)		275,672
Mortgage-backed securities		302,973		4,230		(4,114	)		303,089
Collateralized mortgage obligations		106,733		—		(413	)		106,320
Asset-backed and other amortizing securities		26,046		1,108		(218	)		26,936
Other securities		12,000		487		—			12,487
	$	712,895	$	16,440	$	(4,831	)	$	724,504

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
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 December 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	$	1,939	$	1,959
After 1 year through 5 years		7,563		7,941
After 5 years through 10 years		22,502		23,426
After 10 years		245,139		254,833
Other		435,752		436,345
	$	712,895	$	724,504

At year-end 2021 and 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 $474.5 million and $292.2 million at December 31, 2021 and 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 year-end, by the period 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
2021
U.S. government and agencies	$	—	$	—	$	—	$	—	$	—	$	—
State and municipal		21,255		86		—		—		21,255		86
Mortgage-backed securities		56,398		1,197		64,764		2,917		121,162		4,114
Collateralized mortgage obligations		106,320		413		—		—		106,320		413
Asset-backed and other amortizing securities		1,624		218		—		—		1,624		218
Other securities		—		—		—		—		—		—
	$	185,597	$	1,914	$	64,764	$	2,917	$	250,361	$	4,831


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		3,486		—		—		—		3,486		—
Other securities		—		13		—		—		—		13
	$	203,683	$	787	$	—	$	—	$	203,683	$	787

There were 23 securities with an unrealized loss at December 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 December 31, 2021, management believes the impairments detailed in the table above are temporary and no impairment loss has been realized in the Company’s CFS.

LOANS HELD FOR INVESTMENT

12 Months Ended

Dec. 31, 2021

LOANS HELD FOR INVESTMENT [Abstract]

LOANS HELD FOR INVESTMENT

3.	LOANS HELD FOR INVESTMENT

Loans are summarized by category at year-end as follows:

	2021			2020
Commercial real estate	$	755,444		$	663,344
Commercial - specialized		378,725			311,686
Commercial - general		460,024			518,309
Consumer:
1-4 family residential		387,690			360,315
Auto loans		240,719			205,840
Other consumer		68,113			67,595
Construction		146,862			94,494

		2,437,577			2,221,583
Allowance for loan losses		(42,098	)		(45,553	)

Loans, net	$	2,395,479		$	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 $42.1 million at December 31, 2021, compared to $45.6 million at December 31, 2020. The ratio of allowance for loan losses to loans held for investment was 1.73% at December 31, 2021 and 2.05% at December 31, 2020. The decrease in the allowance for loan losses at December 31, 2021 compared to December 31, 2020 was primarily the result of the Company recording a negative provision for loan losses in the second quarter of 2021 of $2.0 million. The negative provision was primarily due to the general improvement in the economy, a decline in the amount of loans actively under a modification, and a decrease in nonperforming loans.

The following table details the activity in the allowance for loan losses during 2021 and 2020. 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
2021
Commercial real estate	$	18,962	$	(1,826	)	$	—		$	109	$	17,245
Commercial - specialized		5,760		(1,386	)		(172	)		161		4,363
Commercial - general		9,227		(302	)		(677	)		218		8,466
Consumer:
1-4 family residential		4,646		666			(52	)		8		5,268
Auto loans		4,226		(90	)		(598	)		115		3,653
Other consumer		1,671		339			(903	)		250		1,357
Construction		1,061		681			—			4		1,746

Total	$	45,553	$	(1,918	)	$	(2,402	)	$	865	$	42,098

2020
Commercial real estate	$	5,049	$	13,618	$	(7	)	$	302	$	18,962
Commercial - specialized		2,287		4,514		(1,162	)		121		5,760
Commercial - general		9,609		1,219		(1,811	)		210		9,227
Consumer:
1-4 family residential		2,093		2,478		(56	)		131		4,646
Auto loans		3,385		1,814		(1,165	)		192		4,226
Other consumer		1,341		1,300		(1,358	)		388		1,671
Construction		433		627		—			1		1,061

Total	$	24,197	$	25,570	$	(5,559	)	$	1,345	$	45,553


2019
Commercial real estate	$	5,579	$	(961	)	$	—		$	431	$	5,049
Commercial - specialized		2,516		2			(355	)		124		2,287
Commercial - general		8,173		1,209			(306	)		533		9,609
Consumer:
1-4 family residential		2,249		219			(436	)		61		2,093
Auto loans		2,994		1,276			(1,067	)		182		3,385
Other consumer		1,192		969			(1,034	)		214		1,341
Construction		423		85			(75	)		—		433

Total	$	23,126	$	2,799		$	(3,273	)	$	1,545	$	24,197

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
2021
Commercial real estate	$	1,101	$	754,343	$	584	$	16,661
Commercial - specialized		—		378,725		—		4,363
Commercial - general		5,078		454,946		585		7,881
Consumer:
1-4 family residential		1,592		386,098		175		5,093
Auto loans		—		240,719		—		3,653
Other consumer		—		68,113		—		1,357
Construction		—		146,862		—		1,746

Total	$	7,771	$	2,429,806	$	1,344	$	40,754

2020
Commercial -	$	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 at year-end follows:

	Unpaid Contractual Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
2021
Commercial real estate	$	1,101	$	—	$	1,101	$	1,101	$	584	$	3,687
Commercial -specialized		—		—		—		—		—		—
Commercial - general		5,078		1,143		3,935		5,078		585		4,852
Consumer:
1-4 family		1,592		880		712		1,592		175		1,857
Auto loans		—		—		—		—		—		—
Other consumer		—		—		—		—		—		—
Construction		—		—		—		—		—		—
Total	$	7,771	$	2,023	$	5,748	$	7,771	$	1,344	$	10,396

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 2021, 2020 and 2019 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 at year-end:

	30-89 Days Past Due		90 Days or More Past Due		Nonaccrual
2021
Commercial real estate	$	393	$	45	$	1,101
Commercial - specialized		265		20		156
Commercial - general		4,032		97		5,236
Consumer:
1-4 Family residential		2,496		903		2,815
Auto loans		332		—		—
Other consumer		538		15		44
Construction		937		—		166
Total	$	8,993	$	1,080	$	9,518

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 by the Company 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 at year-end:

	Pass		Special Mention		Substandard		Doubtful		Total
2021
Commercial real estate	$	713,852	$	—	$	41,592	$	—	$	755,444
Commercial - specialized		372,797		—		5,928		—		378,725
Commercial - general		450,790		1,676		7,558		—		460,024
Consumer:
1-4 family residential		379,458		—		8,232		—		387,690
Auto loans		239,869		—		850		—		240,719
Other consumer		67,822		—		291		—		68,113
Construction		146,696		—		166		—		146,862
Total	$	2,371,284	$	1,676	$	64,617	$	—	$	2,437,577

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 and 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, as amended by 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 December 31, 2021, the Company had no loans under an active modification that comply with ASC Subtopic 310-40 and the Joint Interagency Regulatory Guidance. As of December 31, 2020, the Company had an outstanding principal balance of modified loans of $3.0 million in loans that complied with ASC Subtopic 310-40 and the Joint Interagency Regulatory Guidance. These modifications included: $1.0 million in six months of interest-only payments, $300 thousand in 90 day commercial payment deferrals, and $1.7 million in consumer one to four month payment deferrals. The total of all of these short-term modifications represented 0.14% of outstanding loans held for investment at December 31, 2020.

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 December 31, 2021 the Company had 3 loans totaling approximately $15.9 million subject to these deferral and modification agreements, representing 0.65% of outstanding loans held for investment. As of December 31, 2020 the Company had 25 loans totaling approximately $61.0 million subject to these deferral and modification agreements, representing 2.75% of outstanding loans held for investment.

There were no TDRs during 2021, 2020, and 2019.

FORECLOSED ASSETS

12 Months Ended

Dec. 31, 2021

FORECLOSED ASSETS [Abstract]

FORECLOSED ASSETS

4.	FORECLOSED ASSETS

Foreclosed assets activity was as follows:

	2021			2020			2019
Beginning balance	$	1,353		$	1,883		$	2,285
Additions		927			1,867			3,469
Sales, net		(1,248	)		(2,397	)		(3,871	)
Current year valuation write-down		—			—			—
Ending balance	$	1,032		$	1,353		$	1,883

Activity in the valuation allowance was as follows:

	2021		2020		2019
Beginning balance	$	—	$	—	$	—
Current year valuation write-down		—		—		—
Reductions from sales		—		—		—
Ending balance	$	—	$	—	$	—

Net expenses related to foreclosed assets include:

	2021			2020			2019
Net loss (gain) on sales	$	(44	)	$	(40	)	$	37
Current year valuation write-down		—			—			—
Operating expenses, net of rental income		57			75			71
Foreclosed assets expense, net	$	13		$	35		$	108

PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2021

PREMISES AND EQUIPMENT [Abstract]

PREMISES AND EQUIPMENT

5.	PREMISES AND EQUIPMENT

Detail of premises and equipment at year-end follows:

	2021			2020
Land	$	10,065		$	10,825
Buildings and improvements		65,986			65,840
Furniture and equipment		48,281			46,443
Construction in process		659			29
		124,991			123,137
Less accumulated depreciation		(67,292	)		(62,806	)
Premises and equipment, net	$	57,699		$	60,331

Depreciation expense was approximately $4.8 million in 2021, $4.8 million in 2020, and $4.9 million in 2019.

GOODWILL AND INTANGIBLES

12 Months Ended

Dec. 31, 2021

GOODWILL AND INTANGIBLES [Abstract]

GOODWILL AND INTANGIBLES

6.	GOODWILL AND INTANGIBLES

Goodwill and other intangible assets, which consist of CDI, customer lists, and employment agreements are summarized below:

	2021			2020			2019
Beginning goodwill	$	19,508		$	18,757		$	—
Arising from business combinations		—			—			18,757
Measurement period acquisition adjustment		—			751			—
Ending goodwill	$	19,508		$	19,508		$	18,757

Amortized intangible assets:
Customer relationship intangibles	$	6,679		$	6,679		$	6,679
Less: Accumulated amortization		(2,469	)		(1,396	)		(202	)
		4,210			5,283			6,477

Other intangibles		2,972			2,309			2,309
Arising from business combinations		—			663			—
Less: Accumulated amortization		(1,287	)		(693	)		(154	)
		1,685			2,279			2,155

Other intangible assets, net	$	5,895		$	7,562		$	8,632

Amortization expense for other intangibles for the years ended December 31, 2021, December 31, 2020, and December 31, 2019 totaled $1.7 million, $1.7 million, and $356 thousand, respectively. The estimated amount of amortization expense for core deposit intangible and other intangible assets to be recognized over the next five years is as follows:

	CDI		Other Intangible		Total

2022	$	951	$	594	$	1,545
2023		830		595		1,425
2024		708		441		1,149
2025		587		55		642
2026		466		—		466

MORTGAGE SERVICING RIGHTS

12 Months Ended

Dec. 31, 2021

MORTGAGE SERVICING RIGHTS [Abstract]

MORTGAGE SERVICING RIGHTS

7.	MORTGAGE SERVICING RIGHTS

The following table reflects the changes in fair value of the Company’s mortgage servicing rights asset included in the Consolidated Balance Sheets, and other information related to the serviced portfolio:

	2021		2020			2019
Beginning balance	$	9,049	$	2,054		$	1,270
Additions		9,196		9,829			1,332
Valuation adjustment		1,455		(2,834	)		(548	)
Ending balance	$	19,700	$	9,049		$	2,054


Mortgage loans serviced for others	$	1,953,095		$	1,203,687		$	247,326
Mortgage servicing rights asset as a percentage of serviced mortgage loans		1	%		1	%		1	%

The following table reflects the key assumptions used in measuring the fair value of the Company’s mortgage servicing rights:

	2021			2020
Weighted average constant prepayment rate		12.35	%		18.16	%
Weighted average discount rate		9.14	%		9.72	%
Weighted average life in years		6.03			4.48

- Definition

The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 50
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

DEPOSITS

12 Months Ended

Dec. 31, 2021

DEPOSITS [Abstract]

DEPOSITS

Time deposits that met or exceeded the FDIC Insurance limit of $250,000 were $163.4 million and $147.0 at December 31, 2021 and 2020, respectively.

The scheduled maturities of time deposits at December 31, 2021 follows:

2022	$	258,584
2023		66,613
2024		8,154
2025		3,272
2026		2,910
Thereafter		205
	$	339,738

BORROWING ARRANGEMENTS

12 Months Ended

Dec. 31, 2021

BORROWING ARRANGEMENTS [Abstract]

BORROWING ARRANGEMENTS

9.	BORROWING ARRANGEMENTS

Short-term borrowings

The following table summarizes our short-term borrowings at year-end:

	2021		2020
Federal funds purchased	$	—	$	26,550
FHLB advances - short-term		—		—
Total	$	—	$	26,550

Federal funds purchased are short-term borrowings that generally have one-day maturities.

Lines of credit

The bank subsidiary has a line of credit with FHLB. The amount of the line is determined by FHLB on a quarterly basis. The line is primarily used to purchase Federal funds or to secure letters of credit to pledge as collateral against certain public deposits. The line is collateralized by a blanket floating lien on all first mortgage loans and commercial real estate loans as well as all FHLB stock, which has a carrying amount of $2.8 million at December 31, 2021. The available capacity of the line was $903.9 million and $512.5 million at December 31, 2021 and 2020, respectively.

The bank subsidiary also has a line of credit with the Federal Reserve Bank of Dallas (“FRB”). The amount of the line is determined on a monthly basis by FRB. The line is collateralized by a blanket floating lien on all agriculture, commercial, and consumer loans. The amount of the line was $593.6 million and $700.8 million at December 31, 2021 and 2020, respectively. This line was not used at December 31, 2021 or 2020.

The bank subsidiary also has uncollateralized lines of credit with multiple banks. The total amount of the lines was $160.0 million and $165.0 million as of December 31, 2021 and 2020, respectively. These lines were not used at December 31, 2021 or 2020.

Notes payable and other borrowings

The bank subsidiary has multiple advances from FHLB. The advances are collateralized through the line of credit with FHLB with interest payable monthly and principal due at maturity. The following table is a detail of the advances as of December 31:

Issue Date	Original Amount of Advance		2021 Balance		2020 Balance		Maturity Date		Interest Rate at December 31, 2020
2013	$	20,000	$	—	$	—		2020	Fixed; 1.50%
2015		25,000		—		25,000		2025	Variable; 0.19%
2015		25,000		—		25,000		2025	Variable; 0.19%
2015		25,000		—		25,000		2025	Variable; 0.23%
	$	95,000	$	—	$	75,000

At December 31, 2020, City Bank had three advances from the 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 and then repaid the remaining advance of $25 million in April 2021. As of December 31, 2021, City Bank had no outstanding advances from the FHLB.

In April 2020, City Bank borrowed $75 million from FHLB, on a term of three months, for liquidity needs. The three month advance matured in July 2020 and was repaid.

Junior subordinated deferrable interest debentures and trust preferred securities

The Company established grantor trusts (“trusts”) that issued obligated mandatorily redeemable preferred securities (“TPS”); the Company issued junior subordinated deferrable interest debentures (debentures) to the trusts. The trusts are not consolidated and the debentures issued by the Company to the trusts are reflected in the Company’s consolidated balance sheets. The Company records interest expense on the debentures in its CFS.

The common capital securities issued by the trusts ($1.4 million) are included in other assets in the Company’s consolidated balance sheets under the equity method of accounting. The amount of the capital securities represents the Company’s maximum exposure to loss.

The Company is required by the Board of Governors of the Federal Reserve System (“Federal Reserve”) to maintain certain levels of capital for bank regulatory purposes. The debentures issued by the trusts to the Company, less the common capital securities of the trusts, continue to qualify as Tier 1 capital, subject to limitation to 25% of Tier 1 capital, under guidance issued by the Federal Reserve.

Although the trusts are not consolidated in these CFS, the TPS remain outstanding with terms substantially the same as the debentures. The Company’s interest payments on its debentures are the sole source of repayment for the TPS. Additionally, the Company guarantees payment of interest and principal on the TPS.

The terms of the debentures and TPS allow for interest to be deferred for up to five years consecutively. During this time, shareholder dividends are not allowed to be paid.

The following table is a detail of the debentures and TPS at December 31, 2021:

	Issue Date	Amount of TPS		Amount of Debentures		Stated Maturity Date of TPS and Debentures⁽¹⁾		Interest Rate of TPS and Debentures⁽²⁾⁽³⁾
South Plains Financial Capital Trust III	2004	$	10,000	$	10,310		2034	3-mo. LIBOR + 265bps; 2.77%
South Plains Financial Capital Trust IV	2005		20,000		20,619		2035	3-mo. LIBOR + 139bps; 1.59%
South Plains Financial Capital Trust V	2007		15,000		15,464		2037	3-mo. LIBOR + 150bps; 1.70%
Total		$	45,000	$	46,393

(1)	May be redeemed five years from the issue date, the Company has no current plans to redeem; (2) Interest payable quarterly with principal due at maturity; (3) Rate as of last reset date.

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 a weighted 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 a weighted average fixed rate of 6.41% for the first seven years. After 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 December 31, 2021, the total amount of subordinated debt securities outstanding was $76.5 million less approximately $697,000 of remaining debt issuance costs for a total balance of $75.8 million.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

EMPLOYEE BENEFITS

12 Months Ended

Dec. 31, 2021

EMPLOYEE BENEFITS [Abstract]

EMPLOYEE BENEFITS

10.	EMPLOYEE BENEFITS

The Company sponsors the South Plains Financial, Inc. Employee Stock Ownership Plan (“ESOP”). Effective May 9, 2019, the ESOP was restated and amended. The 401(k) related assets, which consisted of participants’ elective and rollover accounts, were transferred to the newly formed City Bank 401(k) Plan. The ESOP covers all employees who have completed one month of service.

The ESOP may be leveraged to purchase shares of SPFI stock. Shares are released from collateral and allocated to active employees, in proportion to annual debt service. The Company recognizes any debt of the ESOP as notes payable and the shares pledged as collateral are deducted from the stockholders’ equity as unearned ESOP shares in the accompanying consolidated balance sheets. All ESOP shares were allocated as of December 31, 2021 and 2020.

Through 2019, the Company made contributions to the ESOP as approved by the Board of Directors on an annual basis. These contributions, plus dividends received, were used to service any ESOP debt and repurchase allocated shares from participants and terminating vested participants. Company contributions to the ESOP in 2019 were $1.8 million. There were no Company contributions made to the ESOP in 2021 or 2020.

As of December 31, 2021 and 2020, the number of shares held by the ESOP were 2,795,762 and 2,876,419, respectively. During 2019, the Company did not repurchase any shares from ESOP participants prior to the Company’s shares being publicly traded.

In accordance with applicable provisions of Code, the terms of the ESOP, for so long as SPFI was a privately held company, ESOP participants would have the right, for a specified period of time, to require SPFI to repurchase shares of its common stock that were distributed to such participants by the ESOP. This repurchase obligation terminated upon the consummation of our initial public offering and listing of our common stock on the NASDAQ Global Select Market in May 2019. However, because we were privately held at December 31, 2018, the value of ESOP- owned shares have been deducted from stockholders’ equity in our consolidated changes in stockholders’ equity statement as of December 31, 2018. For all periods following our initial public offering and continued listing of our common stock on the NASDAQ Global Select Market, the ESOP-owned shares are and will be included in stockholders’ equity. At December 31, 2018, the fair value of all ESOP-owned shares subject to this repurchase obligation totaled $58.2 million.

Under the provisions of the 401(k) Plan, participants may elect to contribute pre-tax salary deferrals and direct investment of those salary deferrals among investments offered in the 401(k) Plan. The Company may elect to contribute a safe harbor match equal to 100% of the first 5% of the participants’ compensation contributed. The expense for Company contributions to the 401(k) Plan was $1.8 million in 2021, $1.7 million in 2020, and $0 in 2019.

Employee Health Benefits – The Company has a self-insured welfare benefit plan which provides health and dental benefits. For officers of the Company, there is no waiting period to be eligible, while there is a 60-day waiting period for all other employees. In addition, to be eligible, an employee must be scheduled to work on a full-time basis (at least 30 hours per week). The Company periodically evaluates the costs of the plan and determines the amount to be contributed by the Company and the amount, if any, to be contributed by the employee. Welfare benefit expense was approximately $4.5 million, $4.4 million, and $4.8 million for the years ending December 31, 2021, 2020, and 2019, respectively. In addition, benefit obligations have been accrued and include reported claims payable and claims incurred but not reported, for approximately $825 thousand and $823 thousand as of December 31, 2021 and 2020, respectively. The Company has limited its risk exposure for these benefits through a stop-loss policy with an independent third party insurer which reimburses benefits paid that exceed $100 thousand per participant per year.

Non-Qualified Plans – Certain Company executives, as determined by the Company’s Board from time-to-time, were granted SARs based on grant date values. The rights had varying vesting provisions. Exercise and payment options for the rights varied and were governed by the program they were issued under as well as the specific award agreement. See further discussion in Note 11 for conversion of SARs to stock options.

Certain Company executives, as determined by the Company’s Board from time-to-time, have post-retirement salary continuation agreements under an Executive Salary Continuation Plan. Retirement ages and retirement salary amounts are specified in each agreement. The Company accrues actuarial estimates of the costs of these benefits over the respective service periods; approximately $12.5 million and $12.1 million was accrued at December 31, 2021 and 2020, respectively. This plan is nonqualified, noncontributory, and unfunded. The charge to income for this plan during 2021, 2020, and 2019 was approximately $1.0 million, $1.1 million and, $1.1 million, respectively.

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 31, 2021

STOCK-BASED COMPENSATION [Abstract]

STOCK-BASED COMPENSATION

11.	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, nonstatutory 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 was 3,383,373 at December 31, 2021. 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 is estimated on the date of grant using the 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 during the year ended December 31, 2021 is presented in the table below:

	Number of Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Year Ended December 31, 2021
Outstanding at beginning of year:		1,554,894		$	14.77			$	20,274
Granted		214,452			19.46				1,790
Exercised		(158,166	)		14.38				(2,124	)
Forfeited		(9,152	)		18.37				(86	)
Expired		—			—				—

Outstanding at end of year		1,602,028		$	15.42		6.02	$	19,854

Exercisable at end of period		1,038,018		$	13.34		5.14	$	15,024

Vested at end of period		1,038,018		$	13.34		5.14	$	15,024

A summary of assumptions used to calculate the fair values of the awards is presented below:

	December 31,
	2021			2020			2019
Expected volatility	41.20% to 41.32%				27.46	%	24.88% to 31.54%
Expected dividend yield		1.00	%		0.70	%		0.70	%
Expected term (years)	6.1 to 6.2			6.2			0.5 - 7.0
Risk-free interest rate	0.52% to 0.83%				1.44	%	1.46% to 2.63%
Weighted average grant date fair value	$	7.07		$	5.68			7.98

The total intrinsic value of options exercised during the years ended December 31, 2021, December 31, 2020, and December 31, 2019 was $2.1 million, $1.1 million, and $1.4 million, respectively.

On January 16, 2019, the Company approved the conversion of its previously issued SARs to stock options. There were 1,401,000 outstanding SARs that were converted effective as of May 6, 2019, which are included in the tables above. The fair value of the SARs was $11.5 million at the conversion date. During the modification of these awards from liabilities to equity, the Company accelerated the expiration date, between two and four years, on 750 thousand of the stock options. As a result, the fair value of the stock options after modification was $11.2 million. However, since the fair value of the new equity awards was less than the fair value of the liability awards, no adjustment was made to the Company’s income statement. The $11.5 million was reclassified from liabilities to equity.

Restricted Stock Awards and Units

A summary of activity in the Plan during the year ended December 31, 2021 is presented in the table below:

	Number of Shares			Weighted-Average Grant Date Fair Value
Year Ended December 31, 2021
Outstanding at beginning of year:		62,476		$	19.47
Granted		6,370			19.62
Exercised		(24,805	)		19.70
Forfeited		(1,274	)		19.62

Outstanding at end of year		42,767		$	19.35

Restricted stock units granted under the Plan typically vest from one to 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.

For the years ended December 31, 2021, December 31, 2020, and December 31, 2019 the Company recorded stock-based compensation expense related to the Plan of $1.6 million, $1.3 million and $853, thousand, respectively.

The total unrecognized compensation cost for the awards outstanding under the Plan at December 31, 2021 was $2.7 million and will be recognized over a weighted average remaining period of 1.47 years. The total fair value of restricted stock units vested during the years ended December 31, 2021, December 31, 2020, and December 31, 2019 was $489 thousand, $489 thousand, and $0, respectively.

INCOME TAXES

12 Months Ended

Dec. 31, 2021

INCOME TAXES [Abstract]

INCOME TAXES

12.	INCOME TAXES

The components of income tax expense (benefit) was as follows:

	Years Ended December 31,
	2021		2020			2019
Current expense
Federal	$	12,834	$	12,590		$	6,923
State		220		248			224
Deferred expense
Federal		1,453		(1,588	)		334
Total	$	14,507	$	11,250		$	7,481

Effective tax rates differ from the federal statutory rate of 21% applied to income before income taxes due to the following:

	Years Ended December 31,
	2021			2020			2019
Federal statutory rate times financial statement income	$	15,355		$	11,887		$	7,707
Effect of:
Tax-exempt income		(978	)		(863	)		(348	)
State taxes, net of federal benefit		174			196			177
Earnings from bank owned life insurance		(262	)		(280	)		(272	)
Non-deductible expenses		281			248			190
Other, net		(63	)		62			27
Total	$	14,507		$	11,250		$	7,481

Year-end deferred tax assets and liabilities were due to the following:

	December 31,
	2021			2020
Deferred tax assets
Allowance for loan loss	$	8,840		$	9,566
Deferred compensation		5,772			5,215
Other real estate owned		—			251
Nonaccrual loans		21			59
Other		202			221
Total deferred tax assets		14,835			15,312

Deferred tax liabilities
Depreciation		(2,496	)		(2,432	)
Intangibles		(586	)		(847	)
Prepaid expenses		(547	)		(439	)
Mortgage servicing rights		(4,137	)		(1,900	)
Unrealized gain on available-for-sale securities		(2,438	)		(5,688	)
Other		(1,593	)		(1,545	)
Total deferred tax liabilities		(11,797	)		(12,851	)
Net deferred tax asset	$	3,038		$	2,461

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

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+ Details

RELATED-PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2021

RELATED-PARTY TRANSACTIONS

13.	RELATED-PARTY TRANSACTIONS

Direct and indirect loans to executive officers, directors, significant stockholders and their related affiliates as of December 31, 2021 and 2020 aggregated approximately $12.2 million and $8.9 million, respectively. There were no charge-offs related to these loans in 2021 or 2020 and advance and repayment activity was routine. Deposits from these related parties in the CFS were not significant.

OFF-BALANCE-SHEET ACTIVITIES, COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2021

OFF-BALANCE-SHEET ACTIVITIES, COMMITMENTS AND CONTINGENCIES [Abstract]

OFF-BALANCE-SHEET ACTIVITIES, COMMITMENTS AND CONTINGENCIES

14.	OFF-BALANCE-SHEET ACTIVITIES, 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 at year-end follow:

	2021		2020
Commitments to grant loans and unfunded commitments under lines of credit	$	542,338	$	417,798
Standby letters-of-credit		12,418		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 – In July 2020, a vendor claimed that City Bank had breached a contract by failing to timely pay amounts allegedly due and owing. City Bank vigorously rejected any such non-payment contentions and filed suit against the vendor. With the lawsuit, City Bank sought, among other claims and relief, an injunction against the vendor. After an evidentiary hearing, the court entered a temporary injunction against the vendor expressly prohibiting it from, among other things, terminating the contract pending trial. Based upon discovery in the lawsuit, City Bank also filed a breach of contract claim against the vendor alleging that the vendor violated City Bank’s contractual exclusivity rights. The vendor has filed counterclaims, including for declaratory relief that the contracts should be declared unenforceable. In October 2021, the vendor filed a counterclaim alleging that City Bank’s attempted enforcement of its exclusivity rights contravenes the Texas Free Enterprise and Antitrust Act. The vendor purports to seek actual damages, to treble such actual damages, attorney's fees and expenses. The case remains ongoing and trial is set for October 2022. City Bank intends to continue a vigorous pursuit of its claims against the vendor. In addition, City Bank pursues a number of substantive factual and legal challenges to the vendor’s counterclaims and believes the counterclaims are without merit. At this time, the ultimate outcome is unknown and an estimated range of any loss cannot be made.

The Company is a defendant in legal actions arising from time to time in the normal course of business. Management believes that the ultimate liability, if any, arising from these matters will not materially affect the CFS, based on information known as of the date the CFS were available to be issued.

FHLB Letters of Credit – The Company has used FHLB letters of credit to pledge to certain public deposits. The balance of the FHLB letters of credit at December 31, 2020 was $199.0 million. These letters of credit expired in July 2021 and the Company began pledging securities to these public funds rather than renewing the letters of credit. As a result, there were no FHLB letters of credit outstanding at December 31, 2021.

Lease Commitments – The Company leases certain office facilities and office equipment under operating leases. Rent expense for all operating leases totaled approximately $2.5 million in 2021, $2.4 million in 2020, and $2.0 million in 2019. Occupancy expense was reduced by approximately $890 thousand, $856 thousand, and $891 thousand for rental income during 2021, 2020, and 2019, respectively. Future minimum lease payments due under non-cancelable operating leases as of December 31, 2021 are as follows:

2022	$	1,938
2023		1,739
2024		1,325
2025		978
2026		1,030
Thereafter		5,982
	$	12,992

CAPITAL AND REGULATORY MATTERS

12 Months Ended

Dec. 31, 2021

CAPITAL AND REGULATORY MATTERS [Abstract]

CAPITAL AND REGULATORY MATTERS

15.	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 Federal Reserve published final rules for the adoption of the Basel III regulatory capital framework (Basel III). Basel III, among other things, (i) introduces a new capital measure called Common Equity Tier 1 (“CET1”), (ii) specifies that Tier 1 capital consists of CET1 and Additional Tier 1 Capital instruments meeting specified requirements, (iii) defines Common Equity Tier 1 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) expands 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. The Company was in compliance with the fully phased in requirements at December 31, 2021.

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 and Tier 1 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 December 31, 2021 and 2020, that the Company and its bank subsidiary met all capital adequacy requirements to which they are subject.

As of December 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, and Tier 1 leverage ratios as set forth in the following tables. There are no conditions or events since December 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
December 31, 2021:
Total Capital to Risk Weighted Assets:
Consolidated	$	524,836		18.40	%	$	299,521		10.50	%		N/A		N/A
City Bank		425,748		14.93	%		299,465		10.50	%	$	285,205		10.00	%

Tier I Capital to Risk Weighted Assets:
Consolidated		413,322		14.49	%		242,469		8.50	%		N/A		N/A
City Bank		390,015		13.67	%		242,424		8.50	%		228,164		8.00	%

Common Tier 1 (CET1):
Consolidated		368,322		12.91	%		199,681		7.00	%		N/A		N/A
City Bank		390,015		13.67	%		199,644		7.00	%		185,383		6.50	%

Tier I Capital to Average Assets:
Consolidated		413,322		10.77	%		154,592		4.00	%		N/A		N/A
City Bank		390,015		10.16	%		154,503		4.00	%		191,859		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 Tier 1 (CET1):
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

12 Months Ended

Dec. 31, 2021

DERIVATIVES [Abstract]

DERIVATIVES

16.	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 changes in fair value hedges included in the Consolidated Statements of Comprehensive Income as of December 31:

Interest Rate Contracts	Location	2021			2020			2019
Change in fair value on interest rate swaps hedging fixed rate loans	Interest income	$	498		$	(576	)	$	(520	)
Change in fair value on fixed rate loans - hedged item	Interest income	$	(512	)	$	580		$	511

The following table reflects the fair value hedges included in the Consolidated Balance Sheets as of December 31:

	2021						2020
	Notional Amount			Fair Value			Notional Amount			Fair Value
Included in other liabilities:
Interest rate swaps related to fixed rate loans		$	9,775		$	429		$	10,178		$	927

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

	2021				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	$	5,686	$	55,275	$	1,618

Mortgage banking derivatives

The net gains (losses) relating to free standing derivative instruments used for risk management are summarized below as of December 31:

	Location	2021			2020			2019
Forward contracts related to mortgage loans held for sale	Net gain (loss) on sales of loans	$	(3,473	)	$	(754	)	$	672
Interest rate lock commitments	Net gain (loss) on sales of loans	$	1,681		$	3,409		$	(249	)

The following table reflects the amount and fair value of mortgage banking derivatives in the Consolidated Balance Sheets as of December 31:

	2021				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		104,437		1,642		210,716		5,115
Total included in other assets	$	104,437	$	1,642	$	210,716	$	5,115

Included in other liabilities:
Forward contracts related to mortgage loans held for sale	$	93,120	$	106	$	203,669	$	1,787
Interest rate lock commitments		—		—		—		—
Total included in other liabilities	$	93,120	$	106	$	203,669	$	1,787

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

12 Months Ended

Dec. 31, 2021

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION [Abstract]

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

17.	PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION

Condensed financial information of South Plains Financial, Inc. follows:

CONDENSED BALANCE SHEETS

	December 31,
	2021		2020
ASSETS
Cash and cash equivalents	$	96,243	$	67,890
Investment in banking subsidiary		429,119		421,355
Investment in other subsidiary		51		51
Other assets		6,013		4,248
Total assets	$	531,426	$	493,544

LIABILITIES AND STOCKHOLDERS’ EQUITY
Debt	$	122,168	$	121,982
Accrued expenses and other liabilities		1,831		1,514
Stockholders’ equity		407,427		370,048
Total liabilities and stockholders’ equity	$	531,426	$	493,544

CONDENSED STATEMENTS OF INCOME

	Years Ended December 31,
	2021			2020			2019
Dividends	$	48,250		$	20,500		$	10,000
Other income		26			115			64
ESOP Contribution		—			—			(1,800	)
Interest expense		(4,936	)		(3,390	)		(3,562	)
Other expense		(1,466	)		(1,572	)		(2,221	)
Income before income tax and undistributed subsidiary income		41,874			15,653			2,481
Income tax (benefit)		(1,339	)		(1,018	)		(1,498	)
Equity in undistributed subsidiary income		15,401			28,682			25,241
Net Income	$	58,614		$	45,353		$	29,220

CONDENSED STATEMENTS OF CASH FLOWS

	Years Ended December 31,
	2021			2020			2019
Cash flows from operating activities:
Net income	$	58,614		$	45,353		$	29,220
Adjustments:
Equity in undistributed subsidiary income		(15,401	)		(28,682	)		(25,241	)
Amortization of debt issuance costs		186			47			—
Stock based compensation		1,639			1,272			853
Change in other assets		(1,765	)		(342	)		(1,601	)
Change in other liabilities		317			131			541
Net cash from operating activities		43,590			17,779			3,772

Cash flows from investing activities:
Cash paid in business combination		—			—			(76,100	)
Net cash from investing activities		—			—			(76,100	)

Cash flows from financing activities:
Proceeds from long-term borrowings		—			49,070			—
Repayments of long-term borrowings		—			—			(7,530	)
Issuance of common stock		—			—			51,392
Payments to tax authorities for stock-based compensation		(625	)		(319	)		(351	)
Payments to repurchase common stock		(9,227	)		(293	)		—
Share based liability conversion		—			—			11,450
Cash dividends on common stock		(5,385	)		(2,528	)		(1,079	)
Net cash from financing activities		(15,237	)		45,930			53,882

Net change in cash and cash equivalents		28,353			63,709			(18,446	)
Beginning cash and cash equivalents		67,890			4,181			22,627
Ending cash and cash equivalents	$	96,243		$	67,890		$	4,181

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2021

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

18.	EARNINGS PER SHARE

The factors used in the earnings per share computation follow:

	December 31,
	2021		2020		2019
Net income	$	58,614	$	45,353	$	29,220

Weighted average common shares outstanding - basic		17,953,624		18,054,373		16,818,697
Weighted average common shares outstanding - diluted		18,492,218		18,339,033		17,040,550

Basic earnings per share	$	3.26	$	2.51	$	1.74
Diluted earnings per share	$	3.17	$	2.47	$	1.71

SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2021

SEGMENT INFORMATION [Abstract]

SEGMENT INFORMATION

19.	SEGMENT INFORMATION

Financial results by reportable segment are detailed below:

	Banking			Insurance			Consolidated
2021
Net interest income	$	121,764		$	—		$	121,764
Provision for loan loss		1,918			—			1,918
Noninterest income		89,334			8,135			97,469
Noninterest expense		(142,111	)		(5,919	)		(148,030	)
Income before income taxes		70,905			2,216			73,121
Income tax (expense) benefit		(14,091	)		(416	)		(14,507	)
Net income	$	56,814		$	1,800		$	58,614
Total assets	$	3,890,751		$	11,104		$	3,901,855

	Banking			Insurance			Consolidated
2020
Net interest income (expense)	$	122,285		$	—		$	122,285
Provision for loan loss		(25,570	)		—			(25,570	)
Noninterest income		94,010			7,593			101,603
Noninterest expense		(135,985	)		(5,730	)		(141,715	)
Income before income taxes		54,740			1,863			56,603
Income tax (expense) benefit		(10,804	)		(446	)		(11,250	)
Net income	$	43,936		$	1,417		$	45,353
Total assets	$	3,584,828		$	14,332		$	3,599,160

	Banking			Insurance			Consolidated
2019
Net interest income (expense)	$	104,575		$	—		$	104,575
Provision for loan loss		(2,799	)		—			(2,799	)
Noninterest income		49,834			6,799			56,633
Noninterest expense		(117,160	)		(4,548	)		(121,708	)
Income before income taxes		34,450			2,251			36,701
Income tax (expense) benefit		(7,097	)		(384	)		(7,481	)
Net income	$	27,353		$	1,867		$	29,220
Total assets	$	3,224,396		$	12,771		$	3,237,167

- 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=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 32
-Subparagraph (f)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (e)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 32
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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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

ACCUMULATED OTHER COMPREHENSIVE INCOME

12 Months Ended

Dec. 31, 2021

ACCUMULATED OTHER COMPREHENSIVE INCOME [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME

20.	ACCUMULATED OTHER COMPREHENSIVE INCOME

The following table details the changes in accumulated other comprehensive income (loss) by component, net of tax:

	Gains and (Losses) on Cash Flow Hedges			Unrealized Gains and (Losses) on Securities Available for Sale			Total
2021
Beginning balance	$	(60	)	$	21,399		$	21,339
Other comprehensive income (loss) before reclassification		4,592			(12,229	)		(7,637	)
Amounts reclassified from other comprehensive		—			—			—
Net current period other comprehensive income		4,592			(12,229	)		(7,637	)
Ending balance	$	4,532		$	9,170		$	13,702

2020
Beginning balance	$	—		$	958		$	958
Other comprehensive income before reclassification		(60	)		22,272			22,212
Amounts reclassified from other comprehensive		—			(1,831	)		(1,831	)
Net current period other comprehensive income		(60	)		20,441			20,381
Ending balance	$	(60	)	$	21,399		$	21,339

Amounts reclassified are shown on the Consolidated Statements of Comprehensive Income.

FAIR VALUE DISCLOSURES

12 Months Ended

Dec. 31, 2021

FAIR VALUE DISCLOSURES [Abstract]

FAIR VALUE DISCLOSURES

21.	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 - Significant 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 as of December 31:

	Level 1		Level 2			Level 3		Total
2021
Assets (liabilities) measured at fair value on a recurring basis:
Securities available for sale:
U.S. government and agencies	$	—	$	—		$	—	$	—
State and municipal		—		275,672			—		275,672
Mortgage-backed securities		—		303,089			—		303,089
Collateralized mortgage obligations		—		106,320			—		106,320
Asset-backed and other amortizing securities		—		26,936			—		26,936
Other securities		—		12,487			—		12,487
Loans held for sale (mandatory)		—		47,593			—		47,593
Mortgage servicing rights		—		—			19,700		19,700
Asset derivatives		—		7,328			—		7,328
Liability derivatives		—		(535	)		—		(535	)

Assets measured at fair value on a non-recurring basis:
Impaired loans		—		—			6,427		6,427
Other real estate owned		—		—			—		—

	Level 1		Level 2			Level 3		Total
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 – Fair value is 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.

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 using Level 3 inputs. The mortgage servicing rights asset is valued by projecting net servicing cash flows, which are then discounted to estimate the fair value. The fair value of the mortgage servicing rights asset is impacted by a variety of factors, including prepayment and discount rates, which are significant unobservable inputs.

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 recurring and non-recurring Level 3 fair value measurements at December 31:

	Fair Value		Valuation Techniques	Unobservable Inputs	Range of Discounts
2021
Non-recurring:
Impaired loans	$	6,427	Third party appraisals or inspections	Collateral discounts and selling costs		20%-100	%
Other real estate owned		—	Third party appraisals or inspections	Collateral discounts and selling costs		0	%
Recurring:
Mortgage servicing rights		19,700	Discounted cash flows	Conditional prepayment rate		12.35	%
				Discount rate		9.14	%

2020
Non-recurring:
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	%
Recurring:
Mortgage servicing rights		9,049	Discounted cash flows	Conditional prepayment rate		18.16	%
				Discount rate		9.72	%

The following table summarizes carrying value measurements as of December 31:

	Carrying Amount		Level 1		Level 2		Level 3		Total
2021
Financial assets:
Cash and cash equivalents	$	486,821	$	486,821	$	—	$	—	$	486,821
Loans, net		2,395,479		—		—		2,397,079		2,397,079
Accrued interest receivable		13,900		—		13,900		—		13,900
Bank-owned life insurance		71,978		—		71,978		—		71,978
Financial liabilities:
Deposits		3,341,222		3,004,091		339,797		—		3,343,888
Accrued interest payable		1,914		—		1,914		—		1,914
Notes payable & other borrowings		—		—		—		—		—
Junior subordinated deferrable interest debentures		46,393		—		45,690		—		45,690
Subordinated debt securities		75,775		—		77,939		—		77,939

	Carrying Amount		Level 1		Level 2		Level 3		Total
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

12 Months Ended

Dec. 31, 2021

BUSINESS COMBINATIONS [Abstract]

BUSINESS COMBINATIONS

22.	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
Goodwill recorded in acquisition	$	—

SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2021

SUBSEQUENT EVENTS [Abstract]

SUBSEQUENT EVENTS

23.	SUBSEQUENT EVENTS

Dividend Declaration

On January 20, 2022, the Company declared a cash dividend of $0.11 per share of common stock to be paid on February 14, 2022 to all shareholders of record as of January 31, 2022.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Nature of Operations

Wholly-Owned, Consolidated Subsidiaries:
City Bank	Bank subsidiary
Windmark Insurance Agency, Inc.	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

Subsequent Events

The Company evaluated subsequent events for potential recognition and/or disclosure through the date the CFS were available to be issued.

Use of Estimates

Change in Capital Structure

Stock Offering

Concentration of Credit Risk

Risks and Uncertainties

Comprehensive Income

Cash and Cash Equivalents

Securities

Nonmarketable Equity Securities

Loans

Allowance for Loan Losses

Acquired Loans

Mortgage Servicing Rights

Transfers of Financial Assets

Loans Held for Sale

Premises and Equipment

Foreclosed Assets

Bank-Owned Life Insurance

Goodwill and Other Intangible Assets

Mortgage Banking Derivatives

Derivatives

Revenue Recognition

Service Charges on Deposit Accounts

Bank Card Services and Interchange Fees

Investment Commissions and Fiduciary Trust Fees

Gains/Losses on Sales of OREO

Contract Balances

Contract Acquisition Costs

Insurance Activities

Stock-Based Compensation

Advertising

Advertising – Advertising costs are recognized when incurred. Advertising costs during 2021, 2020, and 2019 were approximately $2.6 million, $2.6 million, and $2.2 million, respectively.

Income Taxes

The State of Texas franchise tax is an income tax for financial reporting purposes under GAAP and the Company and its subsidiaries are subject to the modified tax as a combined group.

Earnings per Share

Fair Values of Financial Instruments

Trust Assets

Segment Information

Reclassification

Reclassification – Certain amounts in the 2019 and 2020 CFS have been reclassified to conform to the 2021 presentation.

Change in Accounting Principle

Recent Accounting Pronouncements

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2021

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Subsidiaries Information

The following are subsidiaries of SPFI:

Wholly-Owned, Consolidated Subsidiaries:
City Bank	Bank subsidiary
Windmark Insurance Agency, Inc.	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)

12 Months Ended

Dec. 31, 2021

SECURITIES [Abstract]

Amortized Cost and Fair Value of Securities

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

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
2021
Available for sale:
U.S. government and agencies	$	—	$	—	$	—		$	—
State and municipal		265,143		10,615		(86	)		275,672
Mortgage-backed securities		302,973		4,230		(4,114	)		303,089
Collateralized mortgage obligations		106,733		—		(413	)		106,320
Asset-backed and other amortizing securities		26,046		1,108		(218	)		26,936
Other securities		12,000		487		—			12,487
	$	712,895	$	16,440	$	(4,831	)	$	724,504

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
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	$	1,939	$	1,959
After 1 year through 5 years		7,563		7,941
After 5 years through 10 years		22,502		23,426
After 10 years		245,139		254,833
Other		435,752		436,345
	$	712,895	$	724,504

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

The following table segregates securities with unrealized losses at year-end, by the period 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
2021
U.S. government and agencies	$	—	$	—	$	—	$	—	$	—	$	—
State and municipal		21,255		86		—		—		21,255		86
Mortgage-backed securities		56,398		1,197		64,764		2,917		121,162		4,114
Collateralized mortgage obligations		106,320		413		—		—		106,320		413
Asset-backed and other amortizing securities		1,624		218		—		—		1,624		218
Other securities		—		—		—		—		—		—
	$	185,597	$	1,914	$	64,764	$	2,917	$	250,361	$	4,831


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		3,486		—		—		—		3,486		—
Other securities		—		13		—		—		—		13
	$	203,683	$	787	$	—	$	—	$	203,683	$	787

LOANS HELD FOR INVESTMENT (Tables)

12 Months Ended

Dec. 31, 2021

LOANS HELD FOR INVESTMENT [Abstract]

Summary of Loans Held for Investment by Category

Loans are summarized by category at year-end as follows:

	2021			2020
Commercial real estate	$	755,444		$	663,344
Commercial - specialized		378,725			311,686
Commercial - general		460,024			518,309
Consumer:
1-4 family residential		387,690			360,315
Auto loans		240,719			205,840
Other consumer		68,113			67,595
Construction		146,862			94,494

		2,437,577			2,221,583
Allowance for loan losses		(42,098	)		(45,553	)

Loans, net	$	2,395,479		$	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
2021
Commercial real estate	$	18,962	$	(1,826	)	$	—		$	109	$	17,245
Commercial - specialized		5,760		(1,386	)		(172	)		161		4,363
Commercial - general		9,227		(302	)		(677	)		218		8,466
Consumer:
1-4 family residential		4,646		666			(52	)		8		5,268
Auto loans		4,226		(90	)		(598	)		115		3,653
Other consumer		1,671		339			(903	)		250		1,357
Construction		1,061		681			—			4		1,746

Total	$	45,553	$	(1,918	)	$	(2,402	)	$	865	$	42,098

2020
Commercial real estate	$	5,049	$	13,618	$	(7	)	$	302	$	18,962
Commercial - specialized		2,287		4,514		(1,162	)		121		5,760
Commercial - general		9,609		1,219		(1,811	)		210		9,227
Consumer:
1-4 family residential		2,093		2,478		(56	)		131		4,646
Auto loans		3,385		1,814		(1,165	)		192		4,226
Other consumer		1,341		1,300		(1,358	)		388		1,671
Construction		433		627		—			1		1,061

Total	$	24,197	$	25,570	$	(5,559	)	$	1,345	$	45,553


2019
Commercial real estate	$	5,579	$	(961	)	$	—		$	431	$	5,049
Commercial - specialized		2,516		2			(355	)		124		2,287
Commercial - general		8,173		1,209			(306	)		533		9,609
Consumer:
1-4 family residential		2,249		219			(436	)		61		2,093
Auto loans		2,994		1,276			(1,067	)		182		3,385
Other consumer		1,192		969			(1,034	)		214		1,341
Construction		423		85			(75	)		—		433

Total	$	23,126	$	2,799		$	(3,273	)	$	1,545	$	24,197

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
2021
Commercial real estate	$	1,101	$	754,343	$	584	$	16,661
Commercial - specialized		—		378,725		—		4,363
Commercial - general		5,078		454,946		585		7,881
Consumer:
1-4 family residential		1,592		386,098		175		5,093
Auto loans		—		240,719		—		3,653
Other consumer		—		68,113		—		1,357
Construction		—		146,862		—		1,746

Total	$	7,771	$	2,429,806	$	1,344	$	40,754

2020
Commercial -	$	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 at year-end follows:

	Unpaid Contractual Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total Recorded Investment		Related Allowance		Average Recorded Investment
2021
Commercial real estate	$	1,101	$	—	$	1,101	$	1,101	$	584	$	3,687
Commercial -specialized		—		—		—		—		—		—
Commercial - general		5,078		1,143		3,935		5,078		585		4,852
Consumer:
1-4 family		1,592		880		712		1,592		175		1,857
Auto loans		—		—		—		—		—		—
Other consumer		—		—		—		—		—		—
Construction		—		—		—		—		—		—
Total	$	7,771	$	2,023	$	5,748	$	7,771	$	1,344	$	10,396

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 at year-end:

	30-89 Days Past Due		90 Days or More Past Due		Nonaccrual
2021
Commercial real estate	$	393	$	45	$	1,101
Commercial - specialized		265		20		156
Commercial - general		4,032		97		5,236
Consumer:
1-4 Family residential		2,496		903		2,815
Auto loans		332		—		—
Other consumer		538		15		44
Construction		937		—		166
Total	$	8,993	$	1,080	$	9,518

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 at year-end:

	Pass		Special Mention		Substandard		Doubtful		Total
2021
Commercial real estate	$	713,852	$	—	$	41,592	$	—	$	755,444
Commercial - specialized		372,797		—		5,928		—		378,725
Commercial - general		450,790		1,676		7,558		—		460,024
Consumer:
1-4 family residential		379,458		—		8,232		—		387,690
Auto loans		239,869		—		850		—		240,719
Other consumer		67,822		—		291		—		68,113
Construction		146,696		—		166		—		146,862
Total	$	2,371,284	$	1,676	$	64,617	$	—	$	2,437,577

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

FORECLOSED ASSETS (Tables)

12 Months Ended

Dec. 31, 2021

FORECLOSED ASSETS [Abstract]

Foreclosed Assets Activity

Foreclosed assets activity was as follows:

	2021			2020			2019
Beginning balance	$	1,353		$	1,883		$	2,285
Additions		927			1,867			3,469
Sales, net		(1,248	)		(2,397	)		(3,871	)
Current year valuation write-down		—			—			—
Ending balance	$	1,032		$	1,353		$	1,883

Activity in Valuation Allowance

Activity in the valuation allowance was as follows:

	2021		2020		2019
Beginning balance	$	—	$	—	$	—
Current year valuation write-down		—		—		—
Reductions from sales		—		—		—
Ending balance	$	—	$	—	$	—

Net expenses related to foreclosed assets include:

	2021			2020			2019
Net loss (gain) on sales	$	(44	)	$	(40	)	$	37
Current year valuation write-down		—			—			—
Operating expenses, net of rental income		57			75			71
Foreclosed assets expense, net	$	13		$	35		$	108

PREMISES AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2021

PREMISES AND EQUIPMENT [Abstract]

Premises and Equipment

Detail of premises and equipment at year-end follows:

	2021			2020
Land	$	10,065		$	10,825
Buildings and improvements		65,986			65,840
Furniture and equipment		48,281			46,443
Construction in process		659			29
		124,991			123,137
Less accumulated depreciation		(67,292	)		(62,806	)
Premises and equipment, net	$	57,699		$	60,331

GOODWILL AND INTANGIBLES (Tables)

12 Months Ended

Dec. 31, 2021

GOODWILL AND INTANGIBLES [Abstract]

Goodwill and Other Intangible Assets

Goodwill and other intangible assets, which consist of CDI, customer lists, and employment agreements are summarized below:

	2021			2020			2019
Beginning goodwill	$	19,508		$	18,757		$	—
Arising from business combinations		—			—			18,757
Measurement period acquisition adjustment		—			751			—
Ending goodwill	$	19,508		$	19,508		$	18,757

Amortized intangible assets:
Customer relationship intangibles	$	6,679		$	6,679		$	6,679
Less: Accumulated amortization		(2,469	)		(1,396	)		(202	)
		4,210			5,283			6,477

Other intangibles		2,972			2,309			2,309
Arising from business combinations		—			663			—
Less: Accumulated amortization		(1,287	)		(693	)		(154	)
		1,685			2,279			2,155

Other intangible assets, net	$	5,895		$	7,562		$	8,632

Estimated Amount of Amortization Expense to Be Recognized over Next Five Years

The estimated amount of amortization expense for core deposit intangible and other intangible assets to be recognized over the next five years is as follows:

	CDI		Other Intangible		Total

2022	$	951	$	594	$	1,545
2023		830		595		1,425
2024		708		441		1,149
2025		587		55		642
2026		466		—		466

MORTGAGE SERVICING RIGHTS (Tables)

12 Months Ended

Dec. 31, 2021

MORTGAGE SERVICING RIGHTS [Abstract]

Change in Fair Value of Mortgage Servicing Rights Asset and Other Information

	2021		2020			2019
Beginning balance	$	9,049	$	2,054		$	1,270
Additions		9,196		9,829			1,332
Valuation adjustment		1,455		(2,834	)		(548	)
Ending balance	$	19,700	$	9,049		$	2,054


Mortgage loans serviced for others	$	1,953,095		$	1,203,687		$	247,326
Mortgage servicing rights asset as a percentage of serviced mortgage loans		1	%		1	%		1	%

Key Assumptions Used in Measuring Fair Value of Mortgage Servicing Rights

The following table reflects the key assumptions used in measuring the fair value of the Company’s mortgage servicing rights:

	2021			2020
Weighted average constant prepayment rate		12.35	%		18.16	%
Weighted average discount rate		9.14	%		9.72	%
Weighted average life in years		6.03			4.48

DEPOSITS (Tables)

12 Months Ended

Dec. 31, 2021

DEPOSITS [Abstract]

Maturities of Time Deposits

The scheduled maturities of time deposits at December 31, 2021 follows:

2022	$	258,584
2023		66,613
2024		8,154
2025		3,272
2026		2,910
Thereafter		205
	$	339,738

BORROWING ARRANGEMENTS (Tables)

12 Months Ended

Dec. 31, 2021

BORROWING ARRANGEMENTS [Abstract]

Short-Term Borrowings

The following table summarizes our short-term borrowings at year-end:

	2021		2020
Federal funds purchased	$	—	$	26,550
FHLB advances - short-term		—		—
Total	$	—	$	26,550

FHLB Advances

The following table is a detail of the advances as of December 31:

Issue Date	Original Amount of Advance		2021 Balance		2020 Balance		Maturity Date		Interest Rate at December 31, 2020
2013	$	20,000	$	—	$	—		2020	Fixed; 1.50%
2015		25,000		—		25,000		2025	Variable; 0.19%
2015		25,000		—		25,000		2025	Variable; 0.19%
2015		25,000		—		25,000		2025	Variable; 0.23%
	$	95,000	$	—	$	75,000

Debentures and Trust Preferred Securities

The following table is a detail of the debentures and TPS at December 31, 2021:

	Issue Date	Amount of TPS		Amount of Debentures		Stated Maturity Date of TPS and Debentures⁽¹⁾		Interest Rate of TPS and Debentures⁽²⁾⁽³⁾
South Plains Financial Capital Trust III	2004	$	10,000	$	10,310		2034	3-mo. LIBOR + 265bps; 2.77%
South Plains Financial Capital Trust IV	2005		20,000		20,619		2035	3-mo. LIBOR + 139bps; 1.59%
South Plains Financial Capital Trust V	2007		15,000		15,464		2037	3-mo. LIBOR + 150bps; 1.70%
Total		$	45,000	$	46,393

(1)	May be redeemed five years from the issue date, the Company has no current plans to redeem; (2) Interest payable quarterly with principal due at maturity; (3) Rate as of last reset date.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
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-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2021

STOCK-BASED COMPENSATION [Abstract]

Summary of Stock Option Activity

A summary of activity in the Plan during the year ended December 31, 2021 is presented in the table below:

	Number of Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Year Ended December 31, 2021
Outstanding at beginning of year:		1,554,894		$	14.77			$	20,274
Granted		214,452			19.46				1,790
Exercised		(158,166	)		14.38				(2,124	)
Forfeited		(9,152	)		18.37				(86	)
Expired		—			—				—

Outstanding at end of year		1,602,028		$	15.42		6.02	$	19,854

Exercisable at end of period		1,038,018		$	13.34		5.14	$	15,024

Vested at end of period		1,038,018		$	13.34		5.14	$	15,024

Summary of Assumptions Used to Calculate Fair Value of Awards

A summary of assumptions used to calculate the fair values of the awards is presented below:

	December 31,
	2021			2020			2019
Expected volatility	41.20% to 41.32%				27.46	%	24.88% to 31.54%
Expected dividend yield		1.00	%		0.70	%		0.70	%
Expected term (years)	6.1 to 6.2			6.2			0.5 - 7.0
Risk-free interest rate	0.52% to 0.83%				1.44	%	1.46% to 2.63%
Weighted average grant date fair value	$	7.07		$	5.68			7.98

Summary of Activity of Restricted Stock Units

A summary of activity in the Plan during the year ended December 31, 2021 is presented in the table below:

	Number of Shares			Weighted-Average Grant Date Fair Value
Year Ended December 31, 2021
Outstanding at beginning of year:		62,476		$	19.47
Granted		6,370			19.62
Exercised		(24,805	)		19.70
Forfeited		(1,274	)		19.62

Outstanding at end of year		42,767		$	19.35

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

INCOME TAXES [Abstract]

Components of Income Tax Expense (Benefit)

The components of income tax expense (benefit) was as follows:

	Years Ended December 31,
	2021		2020			2019
Current expense
Federal	$	12,834	$	12,590		$	6,923
State		220		248			224
Deferred expense
Federal		1,453		(1,588	)		334
Total	$	14,507	$	11,250		$	7,481

Effective Income Tax Rate Reconciliation

Effective tax rates differ from the federal statutory rate of 21% applied to income before income taxes due to the following:

	Years Ended December 31,
	2021			2020			2019
Federal statutory rate times financial statement income	$	15,355		$	11,887		$	7,707
Effect of:
Tax-exempt income		(978	)		(863	)		(348	)
State taxes, net of federal benefit		174			196			177
Earnings from bank owned life insurance		(262	)		(280	)		(272	)
Non-deductible expenses		281			248			190
Other, net		(63	)		62			27
Total	$	14,507		$	11,250		$	7,481

Deferred Tax Assets and Liabilities

Year-end deferred tax assets and liabilities were due to the following:

	December 31,
	2021			2020
Deferred tax assets
Allowance for loan loss	$	8,840		$	9,566
Deferred compensation		5,772			5,215
Other real estate owned		—			251
Nonaccrual loans		21			59
Other		202			221
Total deferred tax assets		14,835			15,312

Deferred tax liabilities
Depreciation		(2,496	)		(2,432	)
Intangibles		(586	)		(847	)
Prepaid expenses		(547	)		(439	)
Mortgage servicing rights		(4,137	)		(1,900	)
Unrealized gain on available-for-sale securities		(2,438	)		(5,688	)
Other		(1,593	)		(1,545	)
Total deferred tax liabilities		(11,797	)		(12,851	)
Net deferred tax asset	$	3,038		$	2,461

OFF-BALANCE-SHEET ACTIVITIES, COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2021

OFF-BALANCE-SHEET ACTIVITIES, COMMITMENTS AND CONTINGENCIES [Abstract]

Financial Instrument Whose Contract Amounts Represent Credit Risk Outstanding

Financial instruments whose contract amounts represent credit risk outstanding at year-end follow:

	2021		2020
Commitments to grant loans and unfunded commitments under lines of credit	$	542,338	$	417,798
Standby letters-of-credit		12,418		10,481

Future Minimum Lease Payments Due under Non-Cancelable Operating Leases

Future minimum lease payments due under non-cancelable operating leases as of December 31, 2021 are as follows:

2022	$	1,938
2023		1,739
2024		1,325
2025		978
2026		1,030
Thereafter		5,982
	$	12,992

CAPITAL AND REGULATORY MATTERS (Tables)

12 Months Ended

Dec. 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
December 31, 2021:
Total Capital to Risk Weighted Assets:
Consolidated	$	524,836		18.40	%	$	299,521		10.50	%		N/A		N/A
City Bank		425,748		14.93	%		299,465		10.50	%	$	285,205		10.00	%

Tier I Capital to Risk Weighted Assets:
Consolidated		413,322		14.49	%		242,469		8.50	%		N/A		N/A
City Bank		390,015		13.67	%		242,424		8.50	%		228,164		8.00	%

Common Tier 1 (CET1):
Consolidated		368,322		12.91	%		199,681		7.00	%		N/A		N/A
City Bank		390,015		13.67	%		199,644		7.00	%		185,383		6.50	%

Tier I Capital to Average Assets:
Consolidated		413,322		10.77	%		154,592		4.00	%		N/A		N/A
City Bank		390,015		10.16	%		154,503		4.00	%		191,859		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 Tier 1 (CET1):
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)

12 Months Ended

Dec. 31, 2021

Mortgage Banking [Member]

Derivative [Line Items]

Net Gains (Losses) Relating to Derivative Instruments

The net gains (losses) relating to free standing derivative instruments used for risk management are summarized below as of December 31:

	Location	2021			2020			2019
Forward contracts related to mortgage loans held for sale	Net gain (loss) on sales of loans	$	(3,473	)	$	(754	)	$	672
Interest rate lock commitments	Net gain (loss) on sales of loans	$	1,681		$	3,409		$	(249	)

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 as of December 31:

	2021				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		104,437		1,642		210,716		5,115
Total included in other assets	$	104,437	$	1,642	$	210,716	$	5,115

Included in other liabilities:
Forward contracts related to mortgage loans held for sale	$	93,120	$	106	$	203,669	$	1,787
Interest rate lock commitments		—		—		—		—
Total included in other liabilities	$	93,120	$	106	$	203,669	$	1,787

Fair Value Hedging [Member]

Derivative [Line Items]

Fair Value of Derivatives in Consolidated Balance Sheets

The following table reflects the fair value hedges included in the Consolidated Balance Sheets as of December 31:

	2021						2020
	Notional Amount			Fair Value			Notional Amount			Fair Value
Included in other liabilities:
Interest rate swaps related to fixed rate loans		$	9,775		$	429		$	10,178		$	927

Cash Flow Hedging [Member]

Derivative [Line Items]

Fair Value of Derivatives in Consolidated Balance Sheets

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

	2021				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	$	5,686	$	55,275	$	1,618

Interest Rate Contracts [Member] | Fair Value Hedging [Member]

Derivative [Line Items]

Net Gains (Losses) Relating to Derivative Instruments

The following table reflects the changes in fair value hedges included in the Consolidated Statements of Comprehensive Income as of December 31:

Interest Rate Contracts	Location	2021			2020			2019
Change in fair value on interest rate swaps hedging fixed rate loans	Interest income	$	498		$	(576	)	$	(520	)
Change in fair value on fixed rate loans - hedged item	Interest income	$	(512	)	$	580		$	511

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION (Tables)

12 Months Ended

Dec. 31, 2021

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION [Abstract]

Condensed Balance Sheets

CONDENSED BALANCE SHEETS

	December 31,
	2021		2020
ASSETS
Cash and cash equivalents	$	96,243	$	67,890
Investment in banking subsidiary		429,119		421,355
Investment in other subsidiary		51		51
Other assets		6,013		4,248
Total assets	$	531,426	$	493,544

LIABILITIES AND STOCKHOLDERS’ EQUITY
Debt	$	122,168	$	121,982
Accrued expenses and other liabilities		1,831		1,514
Stockholders’ equity		407,427		370,048
Total liabilities and stockholders’ equity	$	531,426	$	493,544

Condensed Statements of Income

CONDENSED STATEMENTS OF INCOME

	Years Ended December 31,
	2021			2020			2019
Dividends	$	48,250		$	20,500		$	10,000
Other income		26			115			64
ESOP Contribution		—			—			(1,800	)
Interest expense		(4,936	)		(3,390	)		(3,562	)
Other expense		(1,466	)		(1,572	)		(2,221	)
Income before income tax and undistributed subsidiary income		41,874			15,653			2,481
Income tax (benefit)		(1,339	)		(1,018	)		(1,498	)
Equity in undistributed subsidiary income		15,401			28,682			25,241
Net Income	$	58,614		$	45,353		$	29,220

Condensed Statements of Cash Flows

CONDENSED STATEMENTS OF CASH FLOWS

	Years Ended December 31,
	2021			2020			2019
Cash flows from operating activities:
Net income	$	58,614		$	45,353		$	29,220
Adjustments:
Equity in undistributed subsidiary income		(15,401	)		(28,682	)		(25,241	)
Amortization of debt issuance costs		186			47			—
Stock based compensation		1,639			1,272			853
Change in other assets		(1,765	)		(342	)		(1,601	)
Change in other liabilities		317			131			541
Net cash from operating activities		43,590			17,779			3,772

Cash flows from investing activities:
Cash paid in business combination		—			—			(76,100	)
Net cash from investing activities		—			—			(76,100	)

Cash flows from financing activities:
Proceeds from long-term borrowings		—			49,070			—
Repayments of long-term borrowings		—			—			(7,530	)
Issuance of common stock		—			—			51,392
Payments to tax authorities for stock-based compensation		(625	)		(319	)		(351	)
Payments to repurchase common stock		(9,227	)		(293	)		—
Share based liability conversion		—			—			11,450
Cash dividends on common stock		(5,385	)		(2,528	)		(1,079	)
Net cash from financing activities		(15,237	)		45,930			53,882

Net change in cash and cash equivalents		28,353			63,709			(18,446	)
Beginning cash and cash equivalents		67,890			4,181			22,627
Ending cash and cash equivalents	$	96,243		$	67,890		$	4,181

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2021

EARNINGS PER SHARE [Abstract]

Factors Used in Earnings Per Share Computation

The factors used in the earnings per share computation follow:

	December 31,
	2021		2020		2019
Net income	$	58,614	$	45,353	$	29,220

Weighted average common shares outstanding - basic		17,953,624		18,054,373		16,818,697
Weighted average common shares outstanding - diluted		18,492,218		18,339,033		17,040,550

Basic earnings per share	$	3.26	$	2.51	$	1.74
Diluted earnings per share	$	3.17	$	2.47	$	1.71

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2021

SEGMENT INFORMATION [Abstract]

Financial Results by Reportable Segment

Financial results by reportable segment are detailed below:

	Banking			Insurance			Consolidated
2021
Net interest income	$	121,764		$	—		$	121,764
Provision for loan loss		1,918			—			1,918
Noninterest income		89,334			8,135			97,469
Noninterest expense		(142,111	)		(5,919	)		(148,030	)
Income before income taxes		70,905			2,216			73,121
Income tax (expense) benefit		(14,091	)		(416	)		(14,507	)
Net income	$	56,814		$	1,800		$	58,614
Total assets	$	3,890,751		$	11,104		$	3,901,855

	Banking			Insurance			Consolidated
2020
Net interest income (expense)	$	122,285		$	—		$	122,285
Provision for loan loss		(25,570	)		—			(25,570	)
Noninterest income		94,010			7,593			101,603
Noninterest expense		(135,985	)		(5,730	)		(141,715	)
Income before income taxes		54,740			1,863			56,603
Income tax (expense) benefit		(10,804	)		(446	)		(11,250	)
Net income	$	43,936		$	1,417		$	45,353
Total assets	$	3,584,828		$	14,332		$	3,599,160

	Banking			Insurance			Consolidated
2019
Net interest income (expense)	$	104,575		$	—		$	104,575
Provision for loan loss		(2,799	)		—			(2,799	)
Noninterest income		49,834			6,799			56,633
Noninterest expense		(117,160	)		(4,548	)		(121,708	)
Income before income taxes		34,450			2,251			36,701
Income tax (expense) benefit		(7,097	)		(384	)		(7,481	)
Net income	$	27,353		$	1,867		$	29,220
Total assets	$	3,224,396		$	12,771		$	3,237,167

ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)

12 Months Ended

Dec. 31, 2021

ACCUMULATED OTHER COMPREHENSIVE INCOME [Abstract]

Changes in Accumulated Other Comprehensive Income (Loss) By Component, Net of Tax

The following table details the changes in accumulated other comprehensive income (loss) by component, net of tax:

	Gains and (Losses) on Cash Flow Hedges			Unrealized Gains and (Losses) on Securities Available for Sale			Total
2021
Beginning balance	$	(60	)	$	21,399		$	21,339
Other comprehensive income (loss) before reclassification		4,592			(12,229	)		(7,637	)
Amounts reclassified from other comprehensive		—			—			—
Net current period other comprehensive income		4,592			(12,229	)		(7,637	)
Ending balance	$	4,532		$	9,170		$	13,702

2020
Beginning balance	$	—		$	958		$	958
Other comprehensive income before reclassification		(60	)		22,272			22,212
Amounts reclassified from other comprehensive		—			(1,831	)		(1,831	)
Net current period other comprehensive income		(60	)		20,441			20,381
Ending balance	$	(60	)	$	21,399		$	21,339

FAIR VALUE DISCLOSURES (Tables)

12 Months Ended

Dec. 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 as of December 31:

	Level 1		Level 2			Level 3		Total
2021
Assets (liabilities) measured at fair value on a recurring basis:
Securities available for sale:
U.S. government and agencies	$	—	$	—		$	—	$	—
State and municipal		—		275,672			—		275,672
Mortgage-backed securities		—		303,089			—		303,089
Collateralized mortgage obligations		—		106,320			—		106,320
Asset-backed and other amortizing securities		—		26,936			—		26,936
Other securities		—		12,487			—		12,487
Loans held for sale (mandatory)		—		47,593			—		47,593
Mortgage servicing rights		—		—			19,700		19,700
Asset derivatives		—		7,328			—		7,328
Liability derivatives		—		(535	)		—		(535	)

Assets measured at fair value on a non-recurring basis:
Impaired loans		—		—			6,427		6,427
Other real estate owned		—		—			—		—

	Level 1		Level 2			Level 3		Total
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 Recurring ad Non-Recurring Level 3 Fair Value Measurements

The following table presents quantitative information about recurring and non-recurring Level 3 fair value measurements at December 31:

	Fair Value		Valuation Techniques	Unobservable Inputs	Range of Discounts
2021
Non-recurring:
Impaired loans	$	6,427	Third party appraisals or inspections	Collateral discounts and selling costs		20%-100	%
Other real estate owned		—	Third party appraisals or inspections	Collateral discounts and selling costs		0	%
Recurring:
Mortgage servicing rights		19,700	Discounted cash flows	Conditional prepayment rate		12.35	%
				Discount rate		9.14	%

2020
Non-recurring:
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	%
Recurring:
Mortgage servicing rights		9,049	Discounted cash flows	Conditional prepayment rate		18.16	%
				Discount rate		9.72	%

Summary of Carrying Amounts of Financial Instruments

The following table summarizes carrying value measurements as of December 31:

	Carrying Amount		Level 1		Level 2		Level 3		Total
2021
Financial assets:
Cash and cash equivalents	$	486,821	$	486,821	$	—	$	—	$	486,821
Loans, net		2,395,479		—		—		2,397,079		2,397,079
Accrued interest receivable		13,900		—		13,900		—		13,900
Bank-owned life insurance		71,978		—		71,978		—		71,978
Financial liabilities:
Deposits		3,341,222		3,004,091		339,797		—		3,343,888
Accrued interest payable		1,914		—		1,914		—		1,914
Notes payable & other borrowings		—		—		—		—		—
Junior subordinated deferrable interest debentures		46,393		—		45,690		—		45,690
Subordinated debt securities		75,775		—		77,939		—		77,939

	Carrying Amount		Level 1		Level 2		Level 3		Total
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)

12 Months Ended

Dec. 31, 2021

Windmark Insurance Agency, Inc. [Member] | Crop Insurance Agency in Nebraska [Member]

Business Combinations [Abstract]

Fair Value of the Assets Acquired and Liabilities Assumed

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
Goodwill recorded in acquisition	$	—

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ / shares in Units, $ in Thousands		1 Months Ended	12 Months Ended
	Mar. 11, 2019 $ / shares shares	May 31, 2019 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) Segment $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($)	Mar. 10, 2019 shares	Dec. 31, 2018 USD ($)
Change in Capital Structure [Abstract]
Number of shares of common stock authorized (in shares) \| shares	30,000,000		30,000,000	30,000,000		1,000,000
Common stock, par value (in dollars per share) \| $ / shares	$ 1.00		$ 1	$ 1
Stock split ratio	29
Loans [Abstract]
Number of days principal or interest payments are past due for loans to be placed on nonaccrual status			90 days
Mortgage Servicing Rights [Abstract]
Servicing income			$ 3,100	$ 781	$ 325
Goodwill and Other Intangible Assets [Abstract]
Impairment loss			0	0
Mortgage Banking Derivatives [Abstract]
Recorded value of interest locks at inception			0
Recorded value of forward loan sales commitments at inception			0
Advertising [Abstract]
Advertising costs			$ 2,600	2,600	$ 2,200
Segment Information [Abstract]
Number of reportable segments \| Segment			2
Change in Accounting Principle [Abstract]
Cumulative-effect adjustment to retained earnings, net			$ 242,750	$ 189,521
Minimum [Member]
Allowance for Loan Losses [Abstract]
Threshold balance of loan to be specifically reviewed for impairment			250
Minimum [Member] \| ASU 2016-02 [Member]
Recent Accounting Pronouncements [Abstract]
Right-of-use asset			9,800
Lease liability			9,800
Maximum [Member] \| ASU 2016-02 [Member]
Recent Accounting Pronouncements [Abstract]
Right-of-use asset			10,700
Lease liability			$ 10,700
Cumulative Effect, Period of Adoption, Adjustment [Member]
Change in Accounting Principle [Abstract]
Cumulative-effect adjustment to retained earnings, net							$ 1,300
Cumulative-effect adjustment to retained earnings, before tax							1,600
Cumulative-effect adjustment to retained earnings, tax							340
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.
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
Core Deposit Intangible [Member]
Goodwill and Other Intangible Assets [Abstract]
Estimated useful lives			10 years
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
Initial Public Offering [Member]
Stock Offering [Abstract]
Issuance of common stock, net (in shares) \| shares		3,207,000
Common stock sold to underwriters (in shares) \| shares		507,000
Offering price (in dollars per share) \| $ / shares		$ 17.50
Aggregate gross proceeds from initial public offering		$ 56,100
Aggregate net proceeds from initial public offering		$ 51,400
Building and Improvements [Member] \| Maximum [Member]
Premises and Equipment [Abstract]
Useful life			40 years
Furniture and Equipment [Member] \| Minimum [Member]
Premises and Equipment [Abstract]
Useful life			3 years
Furniture and Equipment [Member] \| Maximum [Member]
Premises and Equipment [Abstract]
Useful life			10 years
Substandard or Worse [Member] \| Minimum [Member]
Allowance for Loan Losses [Abstract]
Threshold balance of loan to be specifically reviewed for impairment			$ 250
Stock Appreciation Rights (SARs) [Member]
Change in Accounting Principle [Abstract]
Fair value in excess of recorded intrinsic value							$ 1,600

SECURITIES, Available for Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Available for sale [Abstract]
Amortized cost	$ 712,895	$ 775,999
Gross unrealized gains	16,440	27,875
Gross unrealized losses	(4,831)	(787)
Fair value	724,504	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	265,143	261,023
Gross unrealized gains	10,615	11,704
Gross unrealized losses	(86)	(120)
Fair value	275,672	272,607
Mortgage-backed Securities [Member]
Available for sale [Abstract]
Amortized cost	302,973	359,542
Gross unrealized gains	4,230	14,014
Gross unrealized losses	(4,114)	(194)
Fair value	303,089	373,362
Collateralized Mortgage Obligations [Member]
Available for sale [Abstract]
Amortized cost	106,733	107,175
Gross unrealized gains	0	0
Gross unrealized losses	(413)	(460)
Fair value	106,320	106,715
Asset-backed and Other Amortizing Securities [Member]
Available for sale [Abstract]
Amortized cost	26,046	31,509
Gross unrealized gains	1,108	2,063
Gross unrealized losses	(218)	0
Fair value	26,936	33,572
Other Securities [Member]
Available for sale [Abstract]
Amortized cost	12,000	12,000
Gross unrealized gains	487	91
Gross unrealized losses	0	(13)
Fair value	$ 12,487	$ 12,078

SECURITIES, Amortized Cost and Fair Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Available for Sale, Amortized Cost [Abstract]
Within 1 year	$ 1,939
After 1 year through 5 years	7,563
After 5 years through 10 years	22,502
After 10 years	245,139
Other	435,752
Amortized cost	712,895	$ 775,999
Available for Sale, Fair Value [Abstract]
Within 1 year	1,959
After 1 year through 5 years	7,941
After 5 years through 10 years	23,426
After 10 years	254,833
Other	436,345
Fair value	$ 724,504	$ 803,087

SECURITIES, Securities Transferred and Securities Pledged (Details) $ in Millions	12 Months Ended
	Dec. 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 \| $	$ 474.5	$ 292.2

SECURITIES, Securities with Unrealized Losses, Available for Sale (Details) $ in Thousands	Dec. 31, 2021 USD ($) Security	Dec. 31, 2020 USD ($)
Available for sale, Fair Value [Abstract]
Less than 12 months	$ 185,597	$ 203,683
12 months or more	64,764	0
Total	250,361	203,683
Available for sale, Unrealized Loss [Abstract]
Less than 12 months	1,914	787
12 months or more	2,917	0
Total	$ 4,831	787
Number of securities with an unrealized loss \| Security	23
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	21,255	0
12 months or more	0	0
Total	21,255	0
Available for sale, Unrealized Loss [Abstract]
Less than 12 months	86	120
12 months or more	0	0
Total	86	120
Mortgage-backed Securities [Member]
Available for sale, Fair Value [Abstract]
Less than 12 months	56,398	93,482
12 months or more	64,764	0
Total	121,162	93,482
Available for sale, Unrealized Loss [Abstract]
Less than 12 months	1,197	194
12 months or more	2,917	0
Total	4,114	194
Collateralized Mortgage Obligations [Member]
Available for sale, Fair Value [Abstract]
Less than 12 months	106,320	106,715
12 months or more	0	0
Total	106,320	106,715
Available for sale, Unrealized Loss [Abstract]
Less than 12 months	413	460
12 months or more	0	0
Total	413	460
Asset-backed and Other Amortizing Securities [Member]
Available for sale, Fair Value [Abstract]
Less than 12 months	1,624	3,486
12 months or more	0	0
Total	1,624	3,486
Available for sale, Unrealized Loss [Abstract]
Less than 12 months	218	0
12 months or more	0	0
Total	218	0
Other 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	13
12 months or more	0	0
Total	$ 0	$ 13

LOANS HELD FOR INVESTMENT, Summary of Loans by Category (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) Category	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Summary of Loans by Category [Abstract]
Loans, gross	$ 2,437,577	$ 2,221,583
Allowance for loan losses	(42,098)	(45,553)	$ (24,197)	$ (23,126)
Loans held for investment, net	2,395,479	2,176,030
Commercial Real Estate [Member]
Summary of Loans by Category [Abstract]
Loans, gross	755,444	663,344
Allowance for loan losses	$ (17,245)	(18,962)	(5,049)	(5,579)
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	$ 378,725	311,686
Allowance for loan losses	(4,363)	(5,760)	(2,287)	(2,516)
Commercial [Member] \| General [Member]
Summary of Loans by Category [Abstract]
Loans, gross	460,024	518,309
Allowance for loan losses	(8,466)	(9,227)	(9,609)	(8,173)
Consumer [Member] \| 1-4 Family Residential [Member]
Summary of Loans by Category [Abstract]
Loans, gross	387,690	360,315
Allowance for loan losses	(5,268)	(4,646)	(2,093)	(2,249)
Consumer [Member] \| Auto Loans [Member]
Summary of Loans by Category [Abstract]
Loans, gross	240,719	205,840
Allowance for loan losses	(3,653)	(4,226)	(3,385)	(2,994)
Consumer [Member] \| Other Consumer [Member]
Summary of Loans by Category [Abstract]
Loans, gross	68,113	67,595
Allowance for loan losses	(1,357)	(1,671)	(1,341)	(1,192)
Construction [Member]
Summary of Loans by Category [Abstract]
Loans, gross	146,862	94,494
Allowance for loan losses	$ (1,746)	$ (1,061)	$ (433)	$ (423)

LOANS HELD FOR INVESTMENT, Activity in Allowance for Loan Losses (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
LOANS HELD FOR INVESTMENT [Abstract]
Ratio of allowance for loan losses to loans held for investment		1.73%	2.05%
Allowance for Loan Losses [Roll Forward]
Beginning Balance		$ 45,553	$ 24,197	$ 23,126
Provision for Loan Losses	$ 2,000	(1,918)	25,570	2,799
Charge-offs		(2,402)	(5,559)	(3,273)
Recoveries		865	1,345	1,545
Ending Balance		42,098	45,553	24,197
Commercial Real Estate [Member]
Allowance for Loan Losses [Roll Forward]
Beginning Balance		18,962	5,049	5,579
Provision for Loan Losses		(1,826)	13,618	(961)
Charge-offs		0	(7)	0
Recoveries		109	302	431
Ending Balance		17,245	18,962	5,049
Commercial [Member] \| Specialized [Member]
Allowance for Loan Losses [Roll Forward]
Beginning Balance		5,760	2,287	2,516
Provision for Loan Losses		(1,386)	4,514	2
Charge-offs		(172)	(1,162)	(355)
Recoveries		161	121	124
Ending Balance		4,363	5,760	2,287
Commercial [Member] \| General [Member]
Allowance for Loan Losses [Roll Forward]
Beginning Balance		9,227	9,609	8,173
Provision for Loan Losses		(302)	1,219	1,209
Charge-offs		(677)	(1,811)	(306)
Recoveries		218	210	533
Ending Balance		8,466	9,227	9,609
Consumer [Member] \| 1-4 Family Residential [Member]
Allowance for Loan Losses [Roll Forward]
Beginning Balance		4,646	2,093	2,249
Provision for Loan Losses		666	2,478	219
Charge-offs		(52)	(56)	(436)
Recoveries		8	131	61
Ending Balance		5,268	4,646	2,093
Consumer [Member] \| Auto Loans [Member]
Allowance for Loan Losses [Roll Forward]
Beginning Balance		4,226	3,385	2,994
Provision for Loan Losses		(90)	1,814	1,276
Charge-offs		(598)	(1,165)	(1,067)
Recoveries		115	192	182
Ending Balance		3,653	4,226	3,385
Consumer [Member] \| Other Consumer [Member]
Allowance for Loan Losses [Roll Forward]
Beginning Balance		1,671	1,341	1,192
Provision for Loan Losses		339	1,300	969
Charge-offs		(903)	(1,358)	(1,034)
Recoveries		250	388	214
Ending Balance		1,357	1,671	1,341
Construction [Member]
Allowance for Loan Losses [Roll Forward]
Beginning Balance		1,061	433	423
Provision for Loan Losses		681	627	85
Charge-offs		0	0	(75)
Recoveries		4	1	0
Ending Balance		$ 1,746	$ 1,061	$ 433

LOANS HELD FOR INVESTMENT, Investment in loans Disaggregated Based on Method of Evaluating Impairment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Recorded Investment [Abstract]
Individually Evaluated	$ 7,771	$ 13,021
Collectively Evaluated	2,429,806	2,208,562
Allowance for Loan Losses [Abstract]
Individually Evaluated	1,344	1,095
Collectively Evaluated	40,754	44,458
Commercial Real Estate [Member]
Recorded Investment [Abstract]
Individually Evaluated	1,101	6,273
Collectively Evaluated	754,343	657,071
Allowance for Loan Losses [Abstract]
Individually Evaluated	584	580
Collectively Evaluated	16,661	18,382
Commercial [Member] \| Specialized [Member]
Recorded Investment [Abstract]
Individually Evaluated	0	0
Collectively Evaluated	378,725	311,686
Allowance for Loan Losses [Abstract]
Individually Evaluated	0	0
Collectively Evaluated	4,363	5,760
Commercial [Member] \| General [Member]
Recorded Investment [Abstract]
Individually Evaluated	5,078	4,626
Collectively Evaluated	454,946	513,683
Allowance for Loan Losses [Abstract]
Individually Evaluated	585	515
Collectively Evaluated	7,881	8,712
Consumer [Member] \| 1-4 Family Residential [Member]
Recorded Investment [Abstract]
Individually Evaluated	1,592	2,122
Collectively Evaluated	386,098	358,193
Allowance for Loan Losses [Abstract]
Individually Evaluated	175	0
Collectively Evaluated	5,093	4,646
Consumer [Member] \| Auto Loans [Member]
Recorded Investment [Abstract]
Individually Evaluated	0	0
Collectively Evaluated	240,719	205,840
Allowance for Loan Losses [Abstract]
Individually Evaluated	0	0
Collectively Evaluated	3,653	4,226
Consumer [Member] \| Other Consumer [Member]
Recorded Investment [Abstract]
Individually Evaluated	0	0
Collectively Evaluated	68,113	67,595
Allowance for Loan Losses [Abstract]
Individually Evaluated	0	0
Collectively Evaluated	1,357	1,671
Construction [Member]
Recorded Investment [Abstract]
Individually Evaluated	0	0
Collectively Evaluated	146,862	94,494
Allowance for Loan Losses [Abstract]
Individually Evaluated	0	0
Collectively Evaluated	$ 1,746	$ 1,061

LOANS HELD FOR INVESTMENT, Impaired Loan Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Impaired Loan Information [Abstract]
Unpaid Contractual Principal Balance	$ 7,771	$ 13,440
Recorded Investment [Abstract]
Recorded Investment With No Allowance	2,023	9,159
Recorded Investment With Allowance	5,748	3,862
Total Recorded Investment	7,771	13,021
Related Allowance	1,344	1,095
Average Recorded Investment	10,396	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	1,101	6,273
Recorded Investment [Abstract]
Recorded Investment With No Allowance	0	3,673
Recorded Investment With Allowance	1,101	2,600
Total Recorded Investment	1,101	6,273
Related Allowance	584	580
Average Recorded Investment	3,687	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	5,078	4,626
Recorded Investment [Abstract]
Recorded Investment With No Allowance	1,143	3,364
Recorded Investment With Allowance	3,935	1,262
Total Recorded Investment	5,078	4,626
Related Allowance	585	515
Average Recorded Investment	4,852	3,400
Consumer [Member] \| 1-4 Family [Member]
Impaired Loan Information [Abstract]
Unpaid Contractual Principal Balance	1,592	2,541
Recorded Investment [Abstract]
Recorded Investment With No Allowance	880	2,122
Recorded Investment With Allowance	712	0
Total Recorded Investment	1,592	2,122
Related Allowance	175	0
Average Recorded Investment	1,857	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 HELD FOR INVESTMENT, Age Analysis on Accruing Past-due Loans and Nonaccrual Loans (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) Point	Dec. 31, 2020 USD ($)
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	$ 2,437,577	$ 2,221,583
Nonaccrual	$ 9,518	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	$ 8,993	6,560
90 Days or More Past Due [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	1,080	1,246
Commercial Real Estate [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	755,444	663,344
Nonaccrual	1,101	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	393	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	45	34
Commercial [Member] \| Specialized [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	378,725	311,686
Nonaccrual	156	272
Commercial [Member] \| Specialized [Member] \| 30-89 Days Past Due [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	265	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	20	0
Commercial [Member] \| General [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	460,024	518,309
Nonaccrual	5,236	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	4,032	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	97	149
Consumer [Member] \| 1-4 Family Residential [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	387,690	360,315
Nonaccrual	2,815	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	2,496	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	903	906
Consumer [Member] \| Auto Loans [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	240,719	205,840
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	332	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	0	38
Consumer [Member] \| Other Consumer [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	68,113	67,595
Nonaccrual	44	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	538	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	15	119
Construction [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	146,862	94,494
Nonaccrual	166	0
Construction [Member] \| 30-89 Days Past Due [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	937	206
Construction [Member] \| 90 Days or More Past Due [Member]
Age Analysis on Accruing Past-due Loans and Nonaccrual Loans [Abstract]
Past Due	$ 0	$ 0

LOANS HELD FOR INVESTMENT, Summary of Internal Classifications of Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Loans by Internal Classifications [Abstract]
Loans	$ 2,437,577	$ 2,221,583
Pass [Member]
Loans by Internal Classifications [Abstract]
Loans	2,371,284	2,135,565
Special Mention [Member]
Loans by Internal Classifications [Abstract]
Loans	1,676	0
Substandard [Member]
Loans by Internal Classifications [Abstract]
Loans	64,617	86,018
Doubtful [Member]
Loans by Internal Classifications [Abstract]
Loans	0	0
Commercial Real Estate [Member]
Loans by Internal Classifications [Abstract]
Loans	755,444	663,344
Commercial Real Estate [Member] \| Pass [Member]
Loans by Internal Classifications [Abstract]
Loans	713,852	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	41,592	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	378,725	311,686
Commercial [Member] \| Specialized [Member] \| Pass [Member]
Loans by Internal Classifications [Abstract]
Loans	372,797	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	5,928	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	460,024	518,309
Commercial [Member] \| General [Member] \| Pass [Member]
Loans by Internal Classifications [Abstract]
Loans	450,790	510,543
Commercial [Member] \| General [Member] \| Special Mention [Member]
Loans by Internal Classifications [Abstract]
Loans	1,676	0
Commercial [Member] \| General [Member] \| Substandard [Member]
Loans by Internal Classifications [Abstract]
Loans	7,558	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	387,690	360,315
Consumer [Member] \| 1-4 Family Residential [Member] \| Pass [Member]
Loans by Internal Classifications [Abstract]
Loans	379,458	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	8,232	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	240,719	205,840
Consumer [Member] \| Auto Loans [Member] \| Pass [Member]
Loans by Internal Classifications [Abstract]
Loans	239,869	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	850	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	68,113	67,595
Consumer [Member] \| Other Consumer [Member] \| Pass [Member]
Loans by Internal Classifications [Abstract]
Loans	67,822	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	291	379
Consumer [Member] \| Other Consumer [Member] \| Doubtful [Member]
Loans by Internal Classifications [Abstract]
Loans	0	0
Construction [Member]
Loans by Internal Classifications [Abstract]
Loans	146,862	94,494
Construction [Member] \| Pass [Member]
Loans by Internal Classifications [Abstract]
Loans	146,696	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	166	0
Construction [Member] \| Doubtful [Member]
Loans by Internal Classifications [Abstract]
Loans	$ 0	$ 0

LOANS HELD FOR INVESTMENT, COVID-19 Related Deferral and Modification (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) Loan	Dec. 31, 2020 USD ($) Loan	Dec. 31, 2019 USD ($)
CARES Act [Abstract]
TDRs	$ 0	$ 0	$ 0
Covid-19 [Member]
CARES Act [Abstract]
Number of loans modified under CARES Act \| Loan	0
Percentage of loans modified under CARES Act	0.65%	2.75%
Number of outstanding loans subject to deferral and modification agreements \| Loan	3	25
Amount of outstanding loans subject to deferral and modification agreements	$ 15,900	$ 61,000
Covid-19 [Member] \| Short-term Deferral Modification Program [Member]
CARES Act [Abstract]
Amount of outstanding principal balance of loans modified under CARES Act		$ 3,000
Percentage of loans modified under CARES Act		0.14%
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		$ 1,000
Period of loan modification		6 months
Commercial [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		$ 300
Period of loan modification		90 days
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		$ 1,700
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

FORECLOSED ASSETS, Foreclosed Assets Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Foreclosed Assets [Roll Forward]
Beginning balance	$ 1,353	$ 1,883	$ 2,285
Additions	927	1,867	3,469
Sales, net	(1,248)	(2,397)	(3,871)
Current year valuation write-down	0	0	0
Ending balance	$ 1,032	$ 1,353	$ 1,883

FORECLOSED ASSETS, Activity in Valuation Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Activity in Valuation Allowance [Roll Forward]
Beginning balance	$ 0	$ 0	$ 0
Current year valuation write-down	0	0	0
Reductions from sales	0	0	0
Ending balance	$ 0	$ 0	$ 0

FORECLOSED ASSETS, Net Expenses Related to Foreclosed Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net expenses related to foreclosed assets [Abstract]
Net loss (gain) on sales	$ (44)	$ (40)	$ 37
Current year valuation write-down	0	0	0
Operating expenses, net of rental income	57	75	71
Foreclosed assets expense, net	$ 13	$ 35	$ 108

PREMISES AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
PREMISES AND EQUIPMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Premises and Equipment [Abstract]
Premises and equipment, gross	$ 124,991	$ 123,137
Less accumulated depreciation	(67,292)	(62,806)
Premises and equipment, net	57,699	60,331
Depreciation expense	4,800	4,800	$ 4,900
Land [Member]
Premises and Equipment [Abstract]
Premises and equipment, gross	10,065	10,825
Buildings and Improvements [Member]
Premises and Equipment [Abstract]
Premises and equipment, gross	65,986	65,840
Furniture and Equipment [Member]
Premises and Equipment [Abstract]
Premises and equipment, gross	48,281	46,443
Construction in Process [Member]
Premises and Equipment [Abstract]
Premises and equipment, gross	$ 659	$ 29

GOODWILL AND INTANGIBLES (Details) - USD ($) $ in Thousands	12 Months Ended
GOODWILL AND INTANGIBLES (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Other Intangible Assets [Abstract]
Beginning goodwill	$ 19,508	$ 18,757	$ 0
Arising from business combinations	0	0	18,757
Measurement period acquisition adjustment	0	751	0
Ending goodwill	19,508	19,508	18,757
Amortized Intangible Assets [Abstract]
Other intangible assets, net	5,895	7,562	8,632
Amortization expense of other intangibles	1,700	1,700	356
Estimated Amount of Amortization Expense to Be Recognized over Next Five Years [Abstract]
2022	1,545
2023	1,425
2024	1,149
2025	642
2026	466
CDI [Member]
Amortized Intangible Assets [Abstract]
Other intangible assets, gross	6,679	6,679	6,679
Less: Accumulated amortization	(2,469)	(1,396)	(202)
Other intangible assets, net	4,210	5,283	6,477
Estimated Amount of Amortization Expense to Be Recognized over Next Five Years [Abstract]
2022	951
2023	830
2024	708
2025	587
2026	466
Other Intangibles [Member]
Amortized Intangible Assets [Abstract]
Other intangible assets, gross	2,972	2,309	2,309
Arising from business combinations	0	663	0
Less: Accumulated amortization	(1,287)	(693)	(154)
Other intangible assets, net	1,685	$ 2,279	$ 2,155
Estimated Amount of Amortization Expense to Be Recognized over Next Five Years [Abstract]
2022	594
2023	595
2024	441
2025	55
2026	$ 0

MORTGAGE SERVICING RIGHTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Mortgage Servicing Rights Asset [Roll Forward]
Beginning balance	$ 9,049	$ 2,054	$ 1,270
Additions	9,196	9,829	1,332
Valuation adjustment	1,455	(2,834)	(548)
Ending balance	19,700	9,049	2,054
Mortgage Servicing Rights Other Information [Abstract]
Mortgage loans serviced for others	$ 1,953,095	$ 1,203,687	$ 247,326
Mortgage servicing rights asset as a percentage of serviced mortgage loans	1.00%	1.00%	1.00%
Key Assumptions Used in Measuring Fair Value of Mortgage Servicing Rights [Abstract]
Weighted average constant prepayment rate	12.35%	18.16%
Weighted average discount rate	9.14%	9.72%
Weighted average life in years	6 years 10 days	4 years 5 months 23 days

DEPOSITS (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
DEPOSITS [Abstract]
Time deposit meeting or exceeding FDIC Insurance limit of $250,000	$ 163,400	$ 147,000
Maturities of Time Deposits [Abstract]
2022	258,584
2023	66,613
2024	8,154
2025	3,272
2026	2,910
Thereafter	205
Total	$ 339,738

BORROWING ARRANGEMENTS, Short-term Borrowings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Short-term borrowings [Abstract]
Total	$ 0	$ 26,550
Federal Funds Purchased [Member]
Short-term borrowings [Abstract]
Total	$ 0	26,550
Short-term borrowings, maturity period	1 day
FHLB Advances - Short-Term [Member]
Short-term borrowings [Abstract]
Total	$ 0	$ 0

BORROWING ARRANGEMENTS, Lines of Credit (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Line of Credit Facility [Abstract]
Carrying amount of FHLB stock	$ 2.8
FHLB stock, available borrowing capacity	903.9	$ 512.5
Bank Subsidiary [Member] \| Federal Reserve Bank of Dallas (FRB) [Member]
Line of Credit Facility [Abstract]
Line of credit, current borrowing capacity	593.6	700.8
Bank Subsidiary [Member] \| Multiple Banks [Member]
Line of Credit Facility [Abstract]
Line of credit, current borrowing capacity	$ 160.0	$ 165.0

BORROWING ARRANGEMENTS, Notes Payable and Other Borrowings (Details) $ in Thousands	1 Months Ended			12 Months Ended
	Apr. 30, 2021 USD ($)	Mar. 31, 2021 USD ($) Advance	Jul. 31, 2020 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($) Advance	Dec. 31, 2019 USD ($)	Apr. 30, 2020 USD ($)
Notes Payable and Other Borrowings [Abstract]
Repayment of advances				$ 75,000	$ 95,000	$ 7,530
Federal Home Loan Bank Advance [Member]
Detail of Advances from FHLB [Abstract]
Original amount of advances				95,000
Balance				$ 0	$ 75,000
Notes Payable and Other Borrowings [Abstract]
Number of advances \| Advance					3
Number of advances repaid \| Advance		2
Repayment of advances	$ 25,000	$ 50,000
Federal Home Loan Bank Advance [Member] \| Federal Home Loan Bank Advance One [Member]
Detail of Advances from FHLB [Abstract]
Issue date				2013
Original amount of advances				$ 20,000
Balance				$ 0	$ 0
Maturity date				2020
Federal Home Loan Bank Advance [Member] \| Federal Home Loan Bank Advance One [Member] \| Fixed Rate [Member]
Detail of Advances from FHLB [Abstract]
Interest rate, type					Fixed
Interest rate					1.50%
Federal Home Loan Bank Advance [Member] \| Federal Home Loan Bank Advance Two [Member]
Detail of Advances from FHLB [Abstract]
Issue date				2015
Original amount of advances				$ 25,000
Balance				$ 0	$ 25,000
Maturity date				2025
Federal Home Loan Bank Advance [Member] \| Federal Home Loan Bank Advance Two [Member] \| Variable Rate [Member]
Detail of Advances from FHLB [Abstract]
Interest rate, type					Floating
Interest rate					0.19%
Federal Home Loan Bank Advance [Member] \| Federal Home Loan Bank Advance Three [Member]
Detail of Advances from FHLB [Abstract]
Issue date				2015
Original amount of advances				$ 25,000
Balance				$ 0	$ 25,000
Maturity date				2025
Federal Home Loan Bank Advance [Member] \| Federal Home Loan Bank Advance Three [Member] \| Variable Rate [Member]
Detail of Advances from FHLB [Abstract]
Interest rate, type					Floating
Interest rate					0.19%
Federal Home Loan Bank Advance [Member] \| Federal Home Loan Bank Advance Four [Member]
Detail of Advances from FHLB [Abstract]
Issue date				2015
Original amount of advances				$ 25,000
Balance				$ 0	$ 25,000
Maturity date				2025
Federal Home Loan Bank Advance [Member] \| Federal Home Loan Bank Advance Four [Member] \| Variable Rate [Member]
Detail of Advances from FHLB [Abstract]
Interest rate, type					Floating
Interest rate					0.23%
Short-Term Federal Home Loan Bank Advances [Member]
Notes Payable and Other Borrowings [Abstract]
Amount borrowed from FHLB for liquidity needs							$ 75,000
Debt instrument, term				3 months
Debt instrument, maturity date				Jul. 31, 2020
Repayment of advances			$ 75,000

BORROWING ARRANGEMENTS, Junior Subordinated Deferrable Interest Debentures and Trust Preferred Securities (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Detail of debentures and TPS [Abstract]

Amount of debentures

$ 46,393

Trust Preferred Securities [Member]

Junior Subordinated Deferrable Interest Debentures and Trust Preferred Securities [Abstract]

Common capital securities issued by the trusts

1,400

Detail of debentures and TPS [Abstract]

Amount of TPS

45,000

Debentures [Member]

Detail of debentures and TPS [Abstract]

Amount of debentures

$ 46,393

Debentures and Trust Preferred Securities [Member] | Maximum [Member]

Junior Subordinated Deferrable Interest Debentures and Trust Preferred Securities [Abstract]

Number of consecutive years during which interest can be deferred

5 years

Detail of debentures and TPS [Abstract]

Period after issue date when debt securities may be redeemed

5 years

South Plains Financial Capital Trust III [Member] | Trust Preferred Securities [Member]

Detail of debentures and TPS [Abstract]

Amount of TPS

$ 10,000

South Plains Financial Capital Trust III [Member] | Debentures [Member]

Detail of debentures and TPS [Abstract]

Amount of debentures

$ 10,310

South Plains Financial Capital Trust III [Member] | Debentures and Trust Preferred Securities [Member]

Detail of debentures and TPS [Abstract]

Issue date

Dec. 31, 2004

Stated maturity date

^[1]

Dec. 31, 2034

Interest rate

^[2],[3]

2.77%

South Plains Financial Capital Trust III [Member] | Debentures and Trust Preferred Securities [Member] | LIBOR [Member]

Detail of debentures and TPS [Abstract]

Term of variable rate

^[2],[3]

3 months

Basis spread on variable rate

^[2],[3]

2.65%

South Plains Financial Capital Trust IV [Member] | Trust Preferred Securities [Member]

Detail of debentures and TPS [Abstract]

Amount of TPS

$ 20,000

South Plains Financial Capital Trust IV [Member] | Debentures [Member]

Detail of debentures and TPS [Abstract]

Amount of debentures

$ 20,619

South Plains Financial Capital Trust IV [Member] | Debentures and Trust Preferred Securities [Member]

Detail of debentures and TPS [Abstract]

Issue date

Dec. 31, 2005

Stated maturity date

^[1]

Dec. 31, 2035

Interest rate

^[2],[3]

1.59%

South Plains Financial Capital Trust IV [Member] | Debentures and Trust Preferred Securities [Member] | LIBOR [Member]

Detail of debentures and TPS [Abstract]

Term of variable rate

^[2],[3]

3 months

Basis spread on variable rate

^[2],[3]

1.39%

South Plains Financial Capital Trust V [Member] | Trust Preferred Securities [Member]

Detail of debentures and TPS [Abstract]

Amount of TPS

$ 15,000

South Plains Financial Capital Trust V [Member] | Debentures [Member]

Detail of debentures and TPS [Abstract]

Amount of debentures

$ 15,464

South Plains Financial Capital Trust V [Member] | Debentures and Trust Preferred Securities [Member]

Detail of debentures and TPS [Abstract]

Issue date

Dec. 31, 2007

Stated maturity date

^[1]

Dec. 31, 2037

Interest rate

^[2],[3]

1.70%

South Plains Financial Capital Trust V [Member] | Debentures and Trust Preferred Securities [Member] | LIBOR [Member]

Detail of debentures and TPS [Abstract]

Term of variable rate

^[2],[3]

3 months

Basis spread on variable rate

^[2],[3]

1.50%

[1]	May be redeemed five years from the issue date, the Company has no current plans to redeem;
[2]	Interest payable quarterly with principal due at maturity;
[3]	Rate as of last reset date.

BORROWING ARRANGEMENTS, Subordinated Debt Securities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Sep. 29, 2020	Dec. 31, 2018
Subordinated Debt Securities [Abstract]
Subordinated debt securities	$ 75,775,000	$ 75,589,000
Subordinated Debt [Member]
Subordinated Debt Securities [Abstract]
Debt instrument, face amount	76,500,000
Debt issuance cost	697,000
Subordinated debt securities	$ 75,800,000
Subordinated Debt [Member] \| Subordinated Debt Securities Issued in December 2018 [Member]
Subordinated Debt Securities [Abstract]
Debt instrument, face amount				$ 26,500,000
Subordinated Debt [Member] \| Subordinated Debt Securities Issued in December 2018 [Member] \| Debt Securities One [Member]
Subordinated Debt Securities [Abstract]
Debt instrument, face amount				$ 12,400,000
Debt instrument, maturity date	Dec. 31, 2028
Debt instrument, weighted average 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 [Member] \| 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 [Member] \| Subordinated Debt Securities Issued in December 2018 [Member] \| Debt Securities Two [Member]
Subordinated Debt Securities [Abstract]
Debt instrument, face amount				$ 14,100,000
Debt instrument, maturity date	Dec. 31, 2030
Debt instrument, weighted average 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 [Member] \| 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 [Member] \| Subordinated Debt Securities Issued in September 29, 2020 [Member]
Subordinated Debt Securities [Abstract]
Debt instrument, face amount			$ 50,000,000.0
Debt issuance cost			$ 926,000
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 [Member] \| 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 [Member] \| 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

EMPLOYEE BENEFITS, Employee Stock Ownership Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
401K Plan [Member]
EMPLOYEE BENEFITS [Abstract]
Percentage of employer matching contribution for first 5% of participant's contribution	100.00%
Percentage of participant's compensation contributed for employer's 100% matching contribution	5.00%
Expense for contributions to 401 (k) plan	$ 1.8	$ 1.7	$ 0.0
Employee Stock Ownership Plan (ESOP) Plan [Member]
EMPLOYEE BENEFITS [Abstract]
Required service period for an employee to be covered by ESOP plan	1 month
Contributions to ESOP by employer	$ 0.0	$ 0.0	$ 1.8
Shares held by ESOP (in shares)	2,795,762	2,876,419
Shares repurchased from ESOP participants (in shares)			0
Fair value of ESOP shares subject to repurchase obligation				$ 58.2

EMPLOYEE BENEFITS, Employee Health Benefits (Details) - Employee Health Benefits [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) h	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Employee Health Benefits [Abstract]
Waiting period to be eligible for non-officers	60 days
Welfare benefit expense	$ 4,500	$ 4,400	$ 4,800
Accrued benefit obligations	825	$ 823
Annual limit for stop loss amount per participant	$ 100
Minimum [Member]
Employee Health Benefits [Abstract]
Number of working hours required per week to be eligible to cover under self-insured welfare benefit plan \| h	30

EMPLOYEE BENEFITS, Non-Qualified Plans (Details) - Executive Salary Continuation Plan [Member] - Nonqualified Plans [Member] - Unfunded Plan [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Non-Qualified Plans [Abstract]
Liabilities for cost of benefits accrued	$ 12.5	$ 12.1
Charges to income for plans	$ 1.0	$ 1.1	$ 1.1

STOCK-BASED COMPENSATION, Equity Incentive Plan (Details) - 2019 Equity Incentive Plan [Member] - shares	Mar. 06, 2019	Dec. 31, 2021
Equity Incentive Plan [Abstract]
Maximum aggregate number of shares of common stock that may be issued (in shares)		3,383,373
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] $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) $ / shares shares
Number of Shares [Roll Forward]
Outstanding at beginning of year (in shares) \| shares	1,554,894
Granted (in shares) \| shares	214,452
Exercised (in shares) \| shares	(158,166)
Forfeited (in shares) \| shares	(9,152)
Expired (in shares) \| shares	0
Outstanding at end of year (in shares) \| shares	1,602,028
Exercisable at end of period (in shares) \| shares	1,038,018
Vested at end of period (in shares) \| shares	1,038,018
Weighted-Average Exercise Price [Abstract]
Outstanding at beginning of year (in dollars per share) \| $ / shares	$ 14.77
Granted (in dollars per share) \| $ / shares	19.46
Exercised (in dollars per share) \| $ / shares	14.38
Forfeited (in dollars per share) \| $ / shares	18.37
Expired (in dollars per share) \| $ / shares	0
Outstanding at end of year (in dollars per share) \| $ / shares	15.42
Exercisable at end of period (in dollars per share) \| $ / shares	13.34
Vested at end of period (in dollars per share) \| $ / shares	$ 13.34
Weighted Average Remaining Contractual Life in Years [Abstract]
Outstanding	6 years 7 days
Exercisable at end of period	5 years 1 month 20 days
Vested at end of period	5 years 1 month 20 days
Aggregate Intrinsic Value [Abstract]
Outstanding at beginning of year \| $	$ 20,274
Granted \| $	1,790
Exercised \| $	(2,124)
Forfeited \| $	(86)
Expired \| $	0
Outstanding at end of year \| $	19,854
Exercisable at end of period \| $	15,024
Vested at end of period \| $	$ 15,024

STOCK-BASED COMPENSATION, Fair Value Assumptions (Details) - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
	May 06, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Equity Incentive Plan [Abstract]
Stock option modified from liabilities to equity (in shares)	750,000
Fair value of stock options after modification	$ 11.2
Amount reclassified from liabilities to equity in conversion	11.5
Minimum [Member]
Equity Incentive Plan [Abstract]
Expiration period of options with accelerated vesting due to modification from liabilities to equity		2 years
Maximum [Member]
Equity Incentive Plan [Abstract]
Expiration period of options with accelerated vesting due to modification from liabilities to equity		4 years
Stock Appreciation Rights (SARs) [Member]
Equity Incentive Plan [Abstract]
Fair value of share-based equity awards at conversion date	$ 11.5
Stock Option [Member]
Summary of Assumptions Used to Calculate Fair Value of Awards [Abstract]
Expected volatility			27.46%
Expected dividend yield		1.00%	0.70%	0.70%
Expected term			6 years 2 months 12 days
Risk-free interest rate			1.44%
Weighted average grant date fair value (in dollars per share)		$ 7.07	$ 5.68	$ 7.98
Stock Option [Member] \| Minimum [Member]
Summary of Assumptions Used to Calculate Fair Value of Awards [Abstract]
Expected volatility		41.20%		24.88%
Expected term		6 years 1 month 6 days		6 months
Risk-free interest rate		0.52%		1.46%
Stock Option [Member] \| Maximum [Member]
Summary of Assumptions Used to Calculate Fair Value of Awards [Abstract]
Expected volatility		41.32%		31.54%
Expected term		6 years 2 months 12 days		7 years
Risk-free interest rate		0.83%		2.63%
2019 Equity Incentive Plan [Member] \| Stock Appreciation Rights (SARs) [Member]
Equity Incentive Plan [Abstract]
Number of outstanding shares converted (in shares)	1,401,000
2019 Equity Incentive Plan [Member] \| Stock Option [Member]
Equity Incentive Plan [Abstract]
Intrinsic value of options exercised		$ 2.1	$ 1.1	$ 1.4

STOCK-BASED COMPENSATION, Restricted Stock Awards and Units (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Weighted-Average Exercise Price [Abstract]
Stock-based compensation expenses	$ 1,639	$ 1,272	$ 853
Restricted Stock Units [Member]
Number of Shares [Roll Forward]
Outstanding at beginning of year (in shares)	62,476
Granted (in shares)	6,370
Exercised (in shares)	(24,805)
Forfeited (in shares)	(1,274)
Outstanding at end of year (in shares)	42,767	62,476
Weighted-Average Exercise Price [Abstract]
Outstanding at beginning of year (in dollars per share)	$ 19.47
Granted (in dollars per share)	19.62
Exercised (in dollars per share)	19.70
Forfeited (in dollars per share)	19.62
Outstanding at end of year (in dollars per share)	$ 19.35	$ 19.47
Stock-based compensation expenses	$ 1,600	$ 1,300	853
Unrecognized compensation cost	$ 2,700
Weighted average remaining period, recognition of compensation cost	1 year 5 months 19 days
Fair value of restricted stock units vested	$ 489	$ 489	$ 0
Restricted Stock Units [Member] \| Minimum [Member]
Weighted-Average Exercise Price [Abstract]
Award vesting period	1 year
Restricted Stock Units [Member] \| Maximum [Member]
Weighted-Average Exercise Price [Abstract]
Award vesting period	4 years

INCOME TAXES, Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current expense [Abstract]
Federal	$ 12,834	$ 12,590	$ 6,923
State	220	248	224
Deferred expense [Abstract]
Federal	1,453	(1,588)	334
Total	$ 14,507	$ 11,250	$ 7,481

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

INCOME TAXES, Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
INCOME TAXES [Abstract]
Federal statutory rate	21.00%
Reconciliation of Income Tax Expenses [Abstract]
Federal statutory rate times financial statement income	$ 15,355	$ 11,887	$ 7,707
Effect of [Abstract]
Tax-exempt income	(978)	(863)	(348)
State taxes, net of federal benefit	174	196	177
Earnings from bank owned life insurance	(262)	(280)	(272)
Non-deductible expenses	281	248	190
Other, net	(63)	62	27
Total	$ 14,507	$ 11,250	$ 7,481

INCOME TAXES, Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets [Abstract]
Allowance for loan loss	$ 8,840	$ 9,566
Deferred compensation	5,772	5,215
Other real estate owned	0	251
Nonaccrual loans	21	59
Other	202	221
Total deferred tax assets	14,835	15,312
Deferred tax liabilities [Abstract]
Depreciation	(2,496)	(2,432)
Intangibles	(586)	(847)
Prepaid expenses	(547)	(439)
Mortgage servicing rights	(4,137)	(1,900)
Unrealized gain on available-for-sale securities	(2,438)	(5,688)
Other	(1,593)	(1,545)
Total deferred tax liabilities	(11,797)	(12,851)
Net deferred tax asset	$ 3,038	$ 2,461

RELATED-PARTY TRANSACTIONS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
RELATED-PARTY TRANSACTIONS [Abstract]
Direct and indirect loans to related parties, aggregated amount	$ 12.2	$ 8.9
Charge-offs related to related-party loans	$ 0.0	$ 0.0

OFF-BALANCE-SHEET ACTIVITIES, COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
FHLB Letters of Credit [Abstract]
Letters of credit outstanding balance	$ 0	$ 199,000
Lease Commitments [Abstract]
Rent expense for operating leases	2,500	2,400	$ 2,000
Rental income	890	856	$ 891
Future Minimum Lease Payments Due Under Non-Cancelable Operating Leases [Abstract]
2022	1,938
2023	1,739
2024	1,325
2025	978
2026	1,030
Thereafter	5,982
Total	12,992
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	542,338	417,798
Standby Letters-of-credit [Member]
Financial instruments with off-balance-sheet risk [Abstract]
Financial instruments whose contract amounts represent credit risk outstanding	$ 12,418	$ 10,481

CAPITAL AND REGULATORY MATTERS (Details) $ in Thousands	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Consolidated [Member]
Total Capital to Risk Weighted Assets [Abstract]
Actual, Amount	$ 524,836	$ 473,425
Actual, Ratio	0.1840	0.1908
Minimum Required Under BASEL III Fully Phased-In, Amount	$ 299,521	$ 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	$ 413,322	$ 366,639
Actual, Ratio	0.1449	0.1478
Minimum Required Under BASEL III Fully Phased-In, Amount	$ 242,469	$ 210,906
Minimum Required Under BASEL III Fully Phased-In, Ratio	0.0850	0.0850
Common Tier 1 (CET1) [Abstract]
Actual, Amount	$ 368,322	$ 321,639
Actual, Ratio	0.1291	0.1296
Minimum Required Under BASEL III Fully Phased-In, Amount	$ 199,681	$ 173,688
Minimum Required Under BASEL III Fully Phased-In, Ratio	0.0700	0.0700
Tier I Capital to Average Assets [Abstract]
Actual, Amount	$ 413,322	$ 366,639
Actual, Ratio	0.1077	0.1024
Minimum Required Under BASEL III Fully Phased-In, Amount	$ 154,592	$ 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	$ 425,748	$ 404,138
Actual, Ratio	0.1493	0.1629
Minimum Required Under BASEL III Fully Phased-In, Amount	$ 299,465	$ 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	$ 285,205	$ 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	$ 390,015	$ 372,947
Actual, Ratio	0.1367	0.1503
Minimum Required Under BASEL III Fully Phased-In, Amount	$ 242,424	$ 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	$ 228,164	$ 198,462
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.0800	0.0800
Common Tier 1 (CET1) [Abstract]
Actual, Amount	$ 390,015	$ 372,947
Actual, Ratio	0.1367	0.1503
Minimum Required Under BASEL III Fully Phased-In, Amount	$ 199,644	$ 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	$ 185,383	$ 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	$ 390,015	$ 372,947
Actual, Ratio	0.1016	0.1042
Minimum Required Under BASEL III Fully Phased-In, Amount	$ 154,503	$ 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	$ 191,859	$ 178,999
To Be Well Capitalized Under Prompt Corrective Action Provisions, Ratio	0.0500	0.0500

DERIVATIVES, Fair Value Hedges in Consolidated Balance Sheets (Details) - Fair Value Hedging [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Interest Income [Member]
Changes in fair value hedges included in Consolidated Statements of Comprehensive Income [Abstract]
Change in fair value on fixed rate loans - hedged item	$ (512)	$ 580	$ 511
Interest Rate Swaps [Member] \| Other Liabilities [Member]
Fair value hedges included in Consolidated Balance Sheets [Abstract]
Derivative liability, notional amount	9,775	10,178
Derivative liability, fair value	429	927
Interest Rate Swaps [Member] \| Interest Income [Member]
Changes in fair value hedges included in Consolidated Statements of Comprehensive Income [Abstract]
Change in fair value on interest rate swaps hedging fixed rate loans	498	(576)	$ (520)
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	$ 5,686	$ 1,618

DERIVATIVES, Mortgage Banking Derivatives (Details) - Mortgage Banking [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Assets [Member]
Notional amount and fair value of mortgage banking derivatives in Consolidated Balance Sheets [Abstract]
Derivative asset, notional amount	$ 104,437	$ 210,716
Derivative asset, fair value	1,642	5,115
Other Liabilities [Member]
Notional amount and fair value of mortgage banking derivatives in Consolidated Balance Sheets [Abstract]
Derivative liability, notional amount	93,120	203,669
Derivative liability, fair value	106	1,787
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
Forward Contracts [Member] \| Other Liabilities [Member]
Notional amount and fair value of mortgage banking derivatives in Consolidated Balance Sheets [Abstract]
Derivative liability, notional amount	93,120	203,669
Derivative liability, fair value	106	1,787
Forward Contracts [Member] \| Net Gain (Loss) on Sales of Loans [Member]
Derivative instruments impact on results of operations [Abstract]
Gain (loss) on sale of derivative instruments	(3,473)	(754)	$ 672
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	104,437	210,716
Derivative asset, fair value	1,642	5,115
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
Interest Rate Lock Commitments [Member] \| Net Gain (Loss) on Sales of Loans [Member]
Derivative instruments impact on results of operations [Abstract]
Gain (loss) on sale of derivative instruments	$ 1,681	$ 3,409	$ (249)

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION, Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
ASSETS [Abstract]
Cash and cash equivalents	$ 486,821	$ 300,307
Other assets	26,826	23,384
Total assets	3,901,855	3,599,160	$ 3,237,167
LIABILITIES AND STOCKHOLDERS' EQUITY [Abstract]
Accrued expenses and other liabilities	31,038	31,229
Stockholders' equity	407,427	370,048	$ 306,182	$ 154,580
Total liabilities and stockholders' equity	3,901,855	3,599,160
South Plains Financial, Inc. [Member]
ASSETS [Abstract]
Cash and cash equivalents	96,243	67,890
Other assets	6,013	4,248
Total assets	531,426	493,544
LIABILITIES AND STOCKHOLDERS' EQUITY [Abstract]
Debt	122,168	121,982
Accrued expenses and other liabilities	1,831	1,514
Stockholders' equity	407,427	370,048
Total liabilities and stockholders' equity	531,426	493,544
South Plains Financial, Inc. [Member] \| Bank Subsidiary [Member]
ASSETS [Abstract]
Investment in subsidiary	429,119	421,355
South Plains Financial, Inc. [Member] \| Other Subsidiary [Member]
ASSETS [Abstract]
Investment in subsidiary	$ 51	$ 51

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION, Condensed Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Interest expense	$ (13,272)	$ (15,946)	$ (28,367)
Other expense	(17,883)	(17,818)	(14,592)
Income before income taxes	73,121	56,603	36,701
Income tax (benefit)	14,507	11,250	7,481
Net income	58,614	45,353	29,220
South Plains Financial, Inc. [Member]
Income Statement [Abstract]
Dividends	48,250	20,500	10,000
Other income	26	115	64
ESOP Contribution	0	0	(1,800)
Interest expense	(4,936)	(3,390)	(3,562)
Other expense	(1,466)	(1,572)	(2,221)
Income before income taxes	41,874	15,653	2,481
Income tax (benefit)	(1,339)	(1,018)	(1,498)
Equity in undistributed subsidiary income	15,401	28,682	25,241
Net income	$ 58,614	$ 45,353	$ 29,220

PARENT COMPANY ONLY CONDENSED FINANCIAL INFORMATION, Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities [Abstract]
Net income	$ 58,614	$ 45,353	$ 29,220
Adjustments [Abstract]
Stock based compensation	1,639	1,272	853
Net cash from operating activities	96,271	5,627	30,484
Cash flows from investing activities [Abstract]
Cash paid in business combination	0	(687)	0
Net cash from investing activities	(159,841)	(156,228)	(213,493)
Cash flows from financing activities [Abstract]
Issuance of common stock	0	0	51,392
Payments to tax authorities for stock-based compensation	(625)	(319)	0
Payments to repurchase common stock	(9,227)	(293)	0
Cash dividends on common stock	(5,385)	(2,528)	(1,079)
Net cash from financing activities	250,084	292,809	95,119
Net change in cash and cash equivalents	186,514	142,208	(87,890)
Beginning cash and cash equivalents	300,307	158,099	245,989
Ending cash and cash equivalents	486,821	300,307	158,099
South Plains Financial, Inc. [Member]
Cash flows from operating activities [Abstract]
Net income	58,614	45,353	29,220
Adjustments [Abstract]
Equity in undistributed subsidiary income	(15,401)	(28,682)	(25,241)
Amortization of debt issuance costs	186	47	0
Stock based compensation	1,639	1,272	853
Change in other assets	(1,765)	(342)	(1,601)
Change in other liabilities	317	131	541
Net cash from operating activities	43,590	17,779	3,772
Cash flows from investing activities [Abstract]
Cash paid in business combination	0	0	(76,100)
Net cash from investing activities	0	0	(76,100)
Cash flows from financing activities [Abstract]
Proceeds from long-term borrowings	0	49,070	0
Repayments of long-term borrowings	0	0	(7,530)
Issuance of common stock	0	0	51,392
Payments to tax authorities for stock-based compensation	(625)	(319)	(351)
Payments to repurchase common stock	(9,227)	(293)	0
Share based liability conversion	0	0	11,450
Cash dividends on common stock	(5,385)	(2,528)	(1,079)
Net cash from financing activities	(15,237)	45,930	53,882
Net change in cash and cash equivalents	28,353	63,709	(18,446)
Beginning cash and cash equivalents	67,890	4,181	22,627
Ending cash and cash equivalents	$ 96,243	$ 67,890	$ 4,181

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
EARNINGS PER SHARE [Abstract]
Net income	$ 58,614	$ 45,353	$ 29,220
Weighted average common shares outstanding - basic (in shares)	17,953,624	18,054,373	16,818,697
Weighted average common shares outstanding - diluted (in shares)	18,492,218	18,339,033	17,040,550
Basic earnings per share (in dollars per share)	$ 3.26	$ 2.51	$ 1.74
Diluted earnings per share (in dollars per share)	$ 3.17	$ 2.47	$ 1.71

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1448-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22595-107794

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
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-Paragraph 11
-Subparagraph (a)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=125512782&loc=d3e4984-109258

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
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-Paragraph 7
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
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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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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financial results by reportable segments [Abstract]
Net interest income (expense)		$ 121,764	$ 122,285	$ 104,575
Provision for loan loss	$ (2,000)	1,918	(25,570)	(2,799)
Noninterest income		97,469	101,603	56,633
Noninterest expense		(148,030)	(141,715)	(121,708)
Income before income taxes		73,121	56,603	36,701
Income tax (expense) benefit		(14,507)	(11,250)	(7,481)
Net income		58,614	45,353	29,220
Total assets		3,901,855	3,599,160	3,237,167
Banking [Member] \| Operating Segments [Member]
Financial results by reportable segments [Abstract]
Net interest income (expense)		121,764	122,285	104,575
Provision for loan loss		1,918	(25,570)	(2,799)
Noninterest income		89,334	94,010	49,834
Noninterest expense		(142,111)	(135,985)	(117,160)
Income before income taxes		70,905	54,740	34,450
Income tax (expense) benefit		(14,091)	(10,804)	(7,097)
Net income		56,814	43,936	27,353
Total assets		3,890,751	3,584,828	3,224,396
Insurance [Member] \| Operating Segments [Member]
Financial results by reportable segments [Abstract]
Net interest income (expense)		0	0	0
Provision for loan loss		0	0	0
Noninterest income		8,135	7,593	6,799
Noninterest expense		(5,919)	(5,730)	(4,548)
Income before income taxes		2,216	1,863	2,251
Income tax (expense) benefit		(416)	(446)	(384)
Net income		1,800	1,417	1,867
Total assets		$ 11,104	$ 14,332	$ 12,771

ACCUMULATED OTHER COMPREHENSIVE INCOME (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	$ 370,048	$ 306,182	$ 154,580
Other comprehensive income (loss) before reclassification	(7,637)	22,212
Amounts reclassified from other comprehensive	0	(1,831)
Other comprehensive income (loss)	(7,637)	20,381	3,201
Balance	407,427	370,048	306,182
Accumulated Other Comprehensive Income (Loss) [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	21,339	958	(2,243)
Other comprehensive income (loss)	(7,637)	20,381	3,201
Balance	13,702	21,339	958
Gains and (Losses) on Cash Flow Hedges [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(60)	0
Other comprehensive income (loss) before reclassification	4,592	(60)
Amounts reclassified from other comprehensive	0	0
Other comprehensive income (loss)	4,592	(60)
Balance	4,532	(60)	0
Unrealized Gains and (Losses) on Securities Available for Sale [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	21,399	958
Other comprehensive income (loss) before reclassification	(12,229)	22,272
Amounts reclassified from other comprehensive	0	(1,831)
Other comprehensive income (loss)	(12,229)	20,441
Balance	$ 9,170	$ 21,399	$ 958

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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+ Details

FAIR VALUE DISCLOSURES, Assets (Liabilities) Measured at Fair Value on Recurring and Non-Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Securities available for sale [Abstract]
Securities available for sale	$ 724,504	$ 803,087
Mortgage servicing rights	19,700	9,049	$ 2,054	$ 1,270
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	275,672	272,607
Mortgage-Backed Securities [Member]
Securities available for sale [Abstract]
Securities available for sale	303,089	373,362
Collateralized Mortgage Obligations [Member]
Securities available for sale [Abstract]
Securities available for sale	106,320	106,715
Other Securities [Member]
Securities available for sale [Abstract]
Securities available for sale	12,487	12,078
Recurring [Member]
Securities available for sale [Abstract]
Asset-backed and other amortizing securities	26,936	33,572
Loans held for sale (mandatory)	47,593	80,174
Mortgage servicing rights	19,700	9,049
Asset derivatives	7,328	6,734
Liability derivatives	(535)	(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	275,672	272,607
Recurring [Member] \| Mortgage-Backed Securities [Member]
Securities available for sale [Abstract]
Securities available for sale	303,089	373,362
Recurring [Member] \| Collateralized Mortgage Obligations [Member]
Securities available for sale [Abstract]
Securities available for sale	106,320	106,715
Recurring [Member] \| Other Securities [Member]
Securities available for sale [Abstract]
Securities available for sale	12,487	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	26,936	33,572
Loans held for sale (mandatory)	47,593	80,174
Mortgage servicing rights	0	0
Asset derivatives	7,328	6,734
Liability derivatives	(535)	(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	275,672	272,607
Recurring [Member] \| Level 2 [Member] \| Mortgage-Backed Securities [Member]
Securities available for sale [Abstract]
Securities available for sale	303,089	373,362
Recurring [Member] \| Level 2 [Member] \| Collateralized Mortgage Obligations [Member]
Securities available for sale [Abstract]
Securities available for sale	106,320	106,715
Recurring [Member] \| Level 2 [Member] \| Other Securities [Member]
Securities available for sale [Abstract]
Securities available for sale	12,487	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	19,700	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
Non-recurring [Member]
Assets Measured at Fair Value on a Non-Recurring Basis [Abstract]
Impaired loans	6,427	11,926
Other real estate owned	0	1,353
Non-recurring [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
Non-recurring [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
Non-recurring [Member] \| Level 3 [Member]
Assets Measured at Fair Value on a Non-Recurring Basis [Abstract]
Impaired loans	6,427	11,926
Other real estate owned	$ 0	$ 1,353

FAIR VALUE DISCLOSURES, Quantitative Information about Recurring and Non-Recurring Level 3 Fair Value Measurements (Details) $ in Thousands	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Mortgage servicing rights	$ 19,700	$ 9,049	$ 2,054	$ 1,270
Non-recurring [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Impaired loans	6,427	11,926
Other real estate owned	0	1,353
Non-recurring [Member] \| Third Party Appraisals or Inspections [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Impaired loans	6,427	11,926
Other real estate owned	$ 0	$ 1,353
Non-recurring [Member] \| Third Party Appraisals or Inspections [Member] \| Collateral Discounts and Selling Costs [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Other real estate owned, discounts	0
Non-recurring [Member] \| 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	0.20	0
Other real estate owned, discounts		0.15
Non-recurring [Member] \| 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
Recurring [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Mortgage servicing rights	$ 19,700	$ 9,049
Recurring [Member] \| Discounted Cash Flows [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Mortgage servicing rights	$ 19,700	$ 9,049
Recurring [Member] \| Discounted Cash Flows [Member] \| Conditional Prepayment Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Mortgage servicing rights, discounts	0.1235	0.1816
Recurring [Member] \| Discounted Cash Flows [Member] \| Discount Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Abstract]
Mortgage servicing rights, discounts	0.0914	0.0972

FAIR VALUE DISCLOSURES, Estimated Fair Values, and Related Carrying Amounts (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Carrying Amount [Member]
Financial assets [Abstract]
Cash and cash equivalents	$ 486,821	$ 300,307
Loans, net	2,395,479	2,176,030
Accrued interest receivable	13,900	15,233
Bank-owned life insurance	71,978	70,731
Financial liabilities [Abstract]
Deposits	3,341,222	2,974,351
Accrued interest payable	1,914	2,113
Notes payable & other borrowings	0	75,000
Junior subordinated deferrable interest debentures	46,393	46,393
Subordinated debt securities	75,775	75,589
Fair Value [Member]
Financial assets [Abstract]
Cash and cash equivalents	486,821	300,307
Loans, net	2,397,079	2,179,573
Accrued interest receivable	13,900	15,233
Bank-owned life insurance	71,978	70,731
Financial liabilities [Abstract]
Deposits	3,343,888	2,979,439
Accrued interest payable	1,914	2,113
Notes payable & other borrowings	0	75,000
Junior subordinated deferrable interest debentures	45,690	45,690
Subordinated debt securities	77,939	76,889
Level 1 [Member] \| Fair Value [Member]
Financial assets [Abstract]
Cash and cash equivalents	486,821	300,307
Loans, net	0	0
Accrued interest receivable	0	0
Bank-owned life insurance	0	0
Financial liabilities [Abstract]
Deposits	3,004,091	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] \| Fair Value [Member]
Financial assets [Abstract]
Cash and cash equivalents	0	0
Loans, net	0	0
Accrued interest receivable	13,900	15,233
Bank-owned life insurance	71,978	70,731
Financial liabilities [Abstract]
Deposits	339,797	329,609
Accrued interest payable	1,914	2,113
Notes payable & other borrowings	0	75,000
Junior subordinated deferrable interest debentures	45,690	45,690
Subordinated debt securities	77,939	76,889
Level 3 [Member] \| Fair Value [Member]
Financial assets [Abstract]
Cash and cash equivalents	0	0
Loans, net	2,397,079	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 (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
BUSINESS COMBINATIONS (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Assets Acquired and Liabilities Assumed [Abstract]
Cash paid		$ 0	$ 687	$ 0
Assets acquired [Abstract]
Goodwill recorded in acquisition		$ 19,508	$ 19,508	$ 18,757	$ 0
Windmark Insurance Agency, Inc. [Member] \| Crop Insurance Agency in Nebraska [Member]
Assets Acquired and Liabilities Assumed [Abstract]
Cash paid	$ 687
Assets acquired [Abstract]
Premises and equipment, net	24
Total assets acquired	687
Goodwill recorded in acquisition	0
Windmark Insurance Agency, Inc. [Member] \| Crop Insurance Agency in Nebraska [Member] \| Customer List [Member]
Assets acquired [Abstract]
Intangible assets	512
Windmark Insurance Agency, Inc. [Member] \| Crop Insurance Agency in Nebraska [Member] \| Other Intangible Assets [Member]
Assets acquired [Abstract]
Intangible assets	$ 151

SUBSEQUENT EVENTS (Details) - $ / shares		12 Months Ended
SUBSEQUENT EVENTS (Details) - $ / shares	Jan. 20, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Dividends [Abstract]
Dividends declared per share (in dollars per share)		$ 0.30	$ 0.14	$ 0.06
Subsequent Event [Member]
Dividends [Abstract]
Dividends declared date	Jan. 20, 2022
Dividends declared per share (in dollars per share)	$ 0.11
Dividends payable date	Feb. 14, 2022
Dividends record date	Jan. 31, 2022