DERIVATIVES (Tables)

3 Months Ended

Mar. 31, 2022

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 March 31, 2022 and December 31, 2021:

(Dollars in thousands)	March 31, 2022			December 31, 2021
Notional amount	$	230,000		$	230,000
Weighted average pay rate		1.99	%		1.99	%
Weighted average receive rate		0.23	%		0.20	%
Weighted average maturity	0.79 years			1.04 years
Unrealized loss, net	$	(665	)	$	(3,479	)
Number of contracts		11			13

Schedule of Cash Flow Hedges Included in Financial Statements

	March 31, 2022
	Notional		Fair
(In thousands)	Amount		Value
Interest rate swaps related to interest-bearing deposits	$	230,000	$	(665	)

Total included in other assets	80,000	234
Total included in other liabilities	150,000	(899	)

	December 31, 2021
	Notional		Fair
(In thousands)	Amount		Value
Interest rate swaps related to interest-bearing deposits	$	230,000	$	(3,479	)
Total included in other assets		—		—
Total included in other liabilities		230,000		(3,479	)

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

The following table presents the net gain/(loss) recorded in accumulated other comprehensive income/(loss) and the consolidated financial statements relating to the cash flow derivative instruments for the three months ended March 31, 2022 and 2021:

	For the Three Months Ended March 31,
(In thousands)	2022		2021
Interest rate contracts
Gain/(loss) recognized in other comprehensive income (effective portion)	$	2,796	$	1,450
Gain/(loss) reclassified from other comprehensive income to interest expense		—		—
Gain/(loss) recognized in other noninterest income		—		—

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)	March 31, 2022			December 31, 2021
Notional amount	$	677,502		$	702,210
Fair value	$	9,034		$	32,326
Weighted average pay rates		3.98	%		4.00	%
Weighted average receive rates		2.20	%		1.83	%
Weighted average maturity	5.2 years			5.5 years
Number of contracts		85			86