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DERIVATIVE INSTRUMENTS (Tables)
3 Months Ended
Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments, Fair Value and Notional Amounts
The following table summarizes the interest rate lock commitments and forward commitments to sell mortgage-backed securities held by the Company, their notional amount and estimated fair values at March 31, 2024 and December 31, 2023:
Notional amountFair value gain
(dollars in thousands)March 31,
2024
December 31,
2023
March 31,
2024
December 31,
2023
Derivative instruments (included in other assets):
Interest rate lock commitments$5,564 $2,405 $116 $62 
Notional amountFair value loss
(dollars in thousands)March 31,
2024
December 31,
2023
March 31,
2024
December 31,
2023
Derivative instruments (included in other liabilities):
Forward commitments to sell mortgage-backed securities$8,500 $5,000 $19 $83 
The following table summarizes the Company's receive-fixed, pay-variable interest rate swaps on certain pools of loans indexed to prime at March 31, 2024 and December 31, 2023
(dollars in thousands)March 31,
2024
December 31,
2023
Notional Amount$425,000 $400,000 
Fair value loss included in other liabilities(8,895)(8,443)
Tax effected amount included in accumulated other comprehensive (loss) income(5,693)(6,164)
Average remaining life2.562.67
Weighted average pay rate6.37 %6.55 %
Weighted average receive rate5.40 %5.41 %