DERIVATIVES AND HEDGING ACTIVITIES (Tables)

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of interest-rate swaps designated as cash flow hedges

Summary information about the interest rate swaps designated as cash flow hedges as of period-end is as follows:

	June 30, 2024			December 31, 2023
	(Dollars in thousands)
Notional amounts	$	254,000		$	259,000
Weighted average pay rates	2.95		%	2.91		%
Weighted average receive rates	5.46		%	5.49		%
Weighted average maturity	2.7 years			3.2 years
Gross unrealized gain included in other assets	$	10,397		$	9,047
Gross unrealized loss included in other liabilities	73			1,465
Unrealized gains, net	$	10,324		$	7,582

Summary of effect of cash flow hedge accounting on AOCI

The effect of cash flow hedge accounting on accumulated other comprehensive income for the three and six months ended June 30, 2024 and 2023 is as follows:

	Amount of (Loss) Gain Recognized in OCI (Net of Tax) on Derivative (1)		Location of Gain (Loss) Reclassified from OCI into Income/(Expense)	Amount of Gain Reclassified from OCI to Expense
	(In thousands)
Three months ended June 30, 2024
Interest rate contracts	$	(72)	Interest Expense	$	1,613
Three months ended June 30, 2023
Interest rate contracts	$	3,803	Interest Expense	$	1,346
Six Months Ended June 30, 2024
Interest rate contracts	$	2,741	Interest Expense	$	3,262
Six Months Ended June 30, 2023
Interest rate contracts	$	1,359	Interest Expense	$	2,350

(1) Net of tax, adjusted for deferred tax valuation allowance.