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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Financial Instruments
The following table reflects the notional amount and fair value of derivative instruments not designated as hedging instruments included in the consolidated balance sheets as of December 31, 2023 and 2022.
December 31, 2023December 31, 2022
Fair ValueFair Value
(dollars in thousands)Notional Amount
Derivative Assets(1)
Derivative Liabilities(2)
Notional Amount
Derivative Assets(1)
Derivative Liabilities(2)
Interest rate contracts(3)
$736,188 $5,937 $6,203 $244,422 $4,580 $4,574 
Risk participation agreement26,163 — 65 — — — 
Mortgage derivatives - interest rate lock commitments171,750 3,636 — 148,148 1,434 — 
Mortgage derivatives - forward contracts related to mortgage loans held for sale663,015 — 5,790 689,500 2,499 — 
(1)Derivative assets are included in other assets on the consolidated balance sheets.
(2)Derivative liabilities are included in other liabilities on the consolidated balance sheets.
(3)Includes interest rate contracts for client swaps and offsetting positions.
Schedule of Net Gains (losses) Relating to Free-Standing Derivative Instruments
The net gains (losses) relating to changes in fair value from derivative instruments not designated as hedging instruments are summarized below for the years ended December 31, 2023, 2022 and 2021.
Year Ended December 31,
(dollars in thousands)Location202320222021
Interest rate contracts(1)
Other noninterest income$(272)$6 $— 
Risk participation agreementOther noninterest income195 — — 
Interest rate lock commitmentsMortgage banking activity2,201 (10,506)(39,816)
Forward contracts related to mortgage loans held for saleMortgage banking activity(8,289)3,209 15,705 
(1)Gain (loss) represents net fair value adjustments (including credit related adjustments) for client swaps and offsetting positions.