DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Summary of Notional Balance and Fair Values of Derivatives Outstanding

The following table shows the notional balances and fair values (including net accrued interest) of the derivatives outstanding by derivative type at March 31, 2022, and December 31, 2021.

	March 31, 2022							December 31, 2021
	Notional Amount		Derivative Assets		Derivative Liabilities			Notional Amount		Derivative Assets		Derivative Liabilities
Derivatives designated as hedging instruments:
Interest rate swaps	$	26,164	$	1,116	$	—		$	26,663	$	—	$	369
Derivatives designated as cash flow hedges:
Interest rate swaps		7,500		1,184		—		$	7,500	$	602	$	—
Total derivatives designated as hedging relationships		33,664		2,300		—			34,163		602		369
Derivatives not designated as hedging instruments:
Interest rate swaps		146,849		1,419		1,499			150,780		4,419		5,184
Total derivatives not designated as hedging    instruments		146,849		1,419		1,499			150,780		4,419		5,184
Total	$	180,513		3,719		1,499		$	184,943		5,021		5,553
Cash collateral				—		(4,311	)				—		(8,441	)
Netting adjustments				3,589		3,589					2,994		2,994
Net amount presented in Balance Sheet			$	7,308	$	777				$	8,015	$	106

Summary of Designated and Qualifying Hedged Items in Fair Value Hedges

 The table below lists designated and qualifying hedged items in fair value hedges at March 31, 2022, and December 31, 2021.

	March 31, 2022							December 31, 2021
	Carrying Amount		Hedging Fair Value Adjustment			Fair Value Adjustments on Discontinued Hedges		Carrying Amount		Hedging Fair Value Adjustment		Fair Value Adjustments on Discontinued Hedges
Commercial real estate loans	$	26,161	$	(1,145	)	$	—	$	26,661	$	213	$	—
Total	$	26,161	$	(1,145	)	$	—	$	26,661	$	213	$	—

Summary of Net Gains/ (Losses) on Derivatives and Hedging Activities

For the three months period ended March 31, 2022 and 2021, the Company recorded net gains (losses) on derivatives and hedging activities.

	Three Months Ended March 31,
	2022		2021
Derivatives designated as hedging instruments:
Interest rate swaps	$	38	$	—
Total net gain (loss) related to derivatives designated as hedging instruments		38		—
Derivatives designated as cash flow hedges:
Interest rate swaps		—		—
Total net gain (loss) related to derivatives designated as cash flow hedges		—		—
Total net gains (losses) related to hedging relationships		38		—
Derivatives not designated as hedging instruments:
Economic hedges:
Interest rate swaps		675		350
Total net gains (losses) related to derivatives not    designated as hedging instruments		675		350
Net gains (losses) on derivatives and hedging activities	$	713	$	350

Summary of Recorded Net Gains (Losses) on Derivatives and Related Hedged Items in Fair Value Hedging Relationships

The following table shows the recorded net gains (losses) on derivatives and the related hedged items in fair value hedging relationships and the impact of those derivatives on the Company’s net interest income for the three-month periods ended March 31, 2022 and 2021.

	March 31, 2022
	Gain/(Loss) on Derivatives		Gain/(Loss) on Hedged Items			Net Fair Value Hedge Gain/(Loss)		Effect of Derivatives on Net Interest Income
Commercial real estate loans	$	1,396	$	(1,358	)	$	38	$	(157	)
Total	$	1,396	$	(1,358	)	$	38	$	(157	)

	March 31, 2021
	Gain/(Loss) on Derivatives			Gain/(Loss) on Hedged Items		Net Fair Value Hedge Gain/(Loss)		Effect of Derivatives on Net Interest Income
Commercial real estate loans	$	(204	)	$	204	$	—	$	(28	)
Total	$	(204	)	$	204	$	—	$	(28	)