DERIVATIVES (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Information about Interest Rate Swaps Designated as Cash Flow Hedges

The following table presents information about the interest rate swaps designated as cash flow hedges as of September 30, 2023 and December 31, 2022:

(Dollars in thousands)	September 30, 2023			December 31, 2022
Notional amount	$	310,000		$	290,000
Weighted average pay rate		2.22	%		1.71	%
Weighted average receive rate		4.07	%		2.78	%
Weighted average maturity	3.24 years			2.01 years
Unrealized gain/(loss), net	$	13,109		$	3,290
Number of contracts		12			12

Schedule of Cash Flow Hedges Included in Financial Statements

	September 30, 2023
	Notional		Fair
(In thousands)	Amount		Value
Interest rate swaps related to interest-bearing deposits	$	310,000	$	13,109
Total included in other assets	$	310,000		13,109
Total included in other liabilities		—		—

	December 31, 2022
	Notional		Fair
(In thousands)	Amount		Value
Interest rate swaps related to interest-bearing deposits	$	290,000	$	3,290
Total included in other assets		290,000		3,290
Total included in other liabilities		—		—

Schedule of Net Gains/(Losses) Recorded in Accumulated Other Comprehensive Income/(Loss)

The following table presents the net gains/(losses) recorded in accumulated other comprehensive income/(loss) and the consolidated financial statements relating to the cash flow derivative instruments for the three month and nine months ended September 30, 2023 and 2022:

	For the Three Months Ended  September 30,				For the Nine Months Ended September 30,
(In thousands)	2023		2022		2023		2022
Interest rate contracts
Gain/(loss) recognized in other comprehensive income (effective portion)	$	1,861	$	10,048	$	3,904	$	13,999
Gain/(loss) reclassified from other comprehensive income to interest expense		—		—		—		—
Gain/(loss) recognized in other noninterest income		—		58		84		58

Not Designated as Hedging Instrument [Member]

Schedule of Information about Interest Rate Swaps Designated as Cash Flow Hedges

Information about these swaps is as follows:

(Dollars in thousands)	September 30, 2023			December 31, 2022
Notional amount	$	580,640		$	612,211
Fair value	$	(42,064	)	$	(37,173	)
Weighted average pay rates		3.99	%		3.99	%
Weighted average receive rates		7.06	%		6.14	%
Weighted average maturity	3.97 years			4.68 years
Number of contracts		75			78