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DERIVATIVES (Tables)
6 Months Ended
Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of derivative instruments
The Company presents derivative position gross on the balance sheet. The following table reflects the fair value of derivatives recorded on the condensed consolidated balance sheets as of June 30, 2023 (dollars in thousands):
As of June 30, 2023
Notional AmountFair Value
Included in other assets:
Derivatives designated as hedges:
Interest rate swaps - cash flow hedge$50,000 $684 
Derivatives not designated as hedging instruments:
Interest rate swaps related to customer loans18,991 45 
Total included in other assets$729 
Included in other liabilities:
Derivatives designated as hedges:
Interest rate swaps - cash flow hedge$— $— 
Derivatives not designated as hedging instruments:
Interest rate swaps related to customer loans18,991 45 
Total included in other liabilities$45 
The effect of cash flow hedge accounting on accumulated other comprehensive income for the three and six months ended June 30, 2023 is as follows (dollars in thousands):
Three Months Ended June 30, 2023Unrealized Gain (Loss) Recorded in OCI on DerivativeLocation of Gain (Loss) Reclassified from OCI into IncomeAmount of Gain (Loss) Reclassified from OCI into Income
Interest rate contracts$787 $— $— 
Six Months Ended June 30, 2023Unrealized Gain (Loss) Recorded in OCI on DerivativeLocation of Gain (Loss) Reclassified from OCI into IncomeAmount of Gain (Loss) Reclassified from OCI into Income
Interest rate contracts$519 $— $—