DERIVATIVES (Tables)

12 Months Ended

Dec. 31, 2022

DERIVATIVES

Schedule of outstanding notional balances and fair values of outstanding derivative instruments

			Assets			Liabilities
			Balance			Balance
	Notional		Sheet	Fair		Sheet	Fair
	Amount		Location	Value		Location	Value
		(in thousands)
December 31, 2022:
Derivatives designated as Hedging Instruments
Interest rate swaps	$	100,000	Other assets	$	8,314	Other liabilities	$	—
Derivatives not designated as Hedging Instruments
Derivative loan commitments	$	27,935	Other assets	$	238	Other liabilities	$	65
Forward loan sale commitments		29,000	Other assets		249	Other liabilities		39
Interest rate swaps		772,588	Other assets		28,525	Other liabilities		28,525
Risk participation agreements		164,528	Other assets		—	Other liabilities		—
Total				$	37,326		$	28,629
December 31, 2021:
Derivatives designated as Hedging Instruments
Interest rate swaps	$	100,000	Other assets	$	1,663	Other liabilities	$	—
Derivatives not designated as Hedging Instruments
Derivative loan commitments	$	86,134	Other assets	$	1,527	Other liabilities	$	95
Forward loan sale commitments		96,000	Other assets		56	Other liabilities		94
Interest rate swaps		740,235	Other assets		18,874	Other liabilities		19,214
Risk participation agreements		139,109	Other assets		—	Other liabilities		—
Total				$	22,120		$	19,403

Schedule of net gains and losses on derivative instruments

	Year Ended December 31,
	2022		2021		2020
Derivatives designated as hedging instruments
(Loss) gain in OCI on derivatives (effective portion), net of tax	$	4,783	$	2,210	$	(1,013)
(Loss) gain reclassified from OCI into interest income or interest expense (effective portion)	$	1,164	$	(513)	$	(46)
Derivatives not designated as hedging instruments
Changes in fair value of derivative loan commitments
Mortgage banking income	$	(1,259)	$	(10,850)	$	11,072
Changes in fair value of forward loan sale commitments
Mortgage banking income		248		2,166		(2,073)
Changes in fair value of interest rate swaps
Other income		330		(431)		—
Total	$	(681)	$	(9,115)	$	8,999