DERIVATIVES (Tables)

3 Months Ended

Mar. 31, 2021

DERIVATIVES

Schedule of derivative position gross on the balance sheet

The following table reflects the derivatives recorded on the balance sheet at March 31, 2021 (in thousands):

At March 31, 2021		Notional Amount		Fair Value
Derivatives designated as hedges:
Interest rate caps related to customer deposits	$	300,000	$	2,962
Total included in Other Assets	$	300,000	$	2,962

Schedule of effect of cash flow hedge accounting on accumulated other comprehensive income

The effect of cash flow hedge accounting on accumulated other comprehensive income at March 31, 2021 is as follows (in thousands):

At March 31, 2021		Amount of Loss Recognized in OCI, net of tax		Location of Gain (Loss) Reclassified from OCI into Income		Amount of Gain (Loss) Reclassified from OCI into Income
Interest rate caps related to customer deposits	$	1,551	$	N/A	$	—