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DERIVATIVES AND HEDGING (Tables)
 6 Months Ended
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Derivative Financial Instruments
The following table presents the fair value of the Company's derivative financial instruments as well as their classification on the consolidated statements of condition as of the dates indicated:
Derivative AssetsDerivative Liabilities
(Dollars in thousands)Notional
Amount		 LocationFair
Value		Notional
Amount		LocationFair
Value
June 30, 2024    
Derivatives designated as hedging instruments:
Interest rate contracts(1)
$568,000 Other Assets$17,806 $25,000 Accrued interest and other liabilities$153 
Total derivatives designated as hedging instruments
$17,806 $153 
Derivatives not designated as hedging instruments:
Customer loan swaps(1)
$334,665 Other assets$14,390 $334,665 Accrued interest and other liabilities$14,413 
Risk participation agreements27,824 Other assets— 60,958 Accrued interest and other liabilities— 
Fixed rate mortgage interest rate lock commitments13,104 Other assets215 6,176 Accrued interest and other liabilities68 
Forward delivery commitments6,437 Other assets112 7,725 Accrued interest and other liabilities132 
Total derivatives not designated as hedging instruments
$14,717 $14,613 
December 31, 2023
Derivatives designated as hedging instruments:
Interest rate contracts(1)
$435,000 Other assets$12,206 $258,000 Accrued interest and other liabilities$3,387 
Total derivatives designated as hedging instruments
$12,206 $3,387 
Derivatives not designated as hedging instruments:
Customer loan swaps(1)
$298,143 Other assets$10,699 $298,143 Accrued interest and other liabilities$10,748 
Risk participation agreements28,077 Other assets— 52,193 Accrued interest and other liabilities— 
Fixed rate mortgage interest rate lock commitments10,924 Other assets215 2,092 Accrued interest and other liabilities11 
Forward delivery commitments3,445 Other assets51 6,706 Accrued interest and other liabilities132 
Total derivatives not designated as hedging instruments
$10,965 $10,891 
(1)    Reported fair values include accrued interest receivable and payable.

The following table shows the carrying amount and associated cumulative basis adjustments related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships:

Location in Consolidated Statements of ConditionCarrying Amount of Hedged Assets/(Liabilities)Cumulative Fair Value Hedging Adjustment in the Carrying Amount of the Hedged Assets/(Liabilities)
(Dollars in thousands)June 30,
2024		December 31,
2023		June 30,
2024		December 31,
2023
Loans(1)
$369,499 $374,032 $(5,501)$(968)
Total $369,499 $374,032 $(5,501)$(968)
(1)    These amounts include the amortized cost basis of residential real estate loans that were used to designate hedging relationships in which the hedged item is the stated amount of assets in the closed portfolio anticipated to be outstanding for the designated hedged period. As of June 30, 2024 and December 31, 2023, the amortized cost basis of the residential real estate loans used in these hedging relationships was $784.4 million and $806.5 million, respectively, and the amount of the designated hedged residential loans was $375.0 million.
Schedule of Cash Flow Hedging Instruments, Location
The table below presents the effect of cash flow hedge accounting, before tax, on AOCI for the periods indicated:
(Dollars in thousands)Amount of Gain (Loss) Recognized in OCI on DerivativeAmount of Gain (Loss) Recognized in OCI Included ComponentAmount of Gain (Loss) Recognized in OCI Excluded ComponentLocation of Gain (Loss) Recognized
from AOCI into Income		Amount of Gain (Loss) Reclassified from AOCI into IncomeAmount of Gain (Loss) Reclassified from AOCI into Income Included ComponentAmount of Gain (Loss) Reclassified from AOCI into Income Excluded Component
For the Three Months Ended June 30, 2024
Interest rate contracts$(10)$(10)$— Interest and fees on loans$(740)$(740)$— 
Interest rate contracts695 695 — Interest on borrowings718 718 — 
Interest rate contracts481 481 — Interest on junior subordinated debentures227 227 — 
Total$1,166 $1,166 $— $205 $205 $— 
For Six Months Ended June 30, 2024
Interest rate contracts$(98)$(98)$— Interest and fees on loans$(1,676)$(1,676)$— 
Interest rate contracts2,684 2,684 — Interest on borrowings1,396 1,396 — 
Interest rate contracts1,746 1,746 — Interest on junior subordinated debentures454 454 — 
Total$4,332 $4,332 $— $174 $174 $— 
For the Three Months Ended June 30, 2023
Interest rate contracts$(864)$(864)$— Interest and fees on loans$(862)$(862)$— 
Interest rate contracts1,517 1,517 — Interest on borrowings537 537 — 
Interest rate contracts1,406 1,406 — Interest on junior subordinated debentures182 182 — 
Total$2,059 $2,059 $— $(143)$(143)$— 
For the Six Months Ended June 30, 2023
Interest rate contracts$(682)$(682)$— Interest and fees on loans$(1,579)$(1,579)$— 
Interest rate contracts(1)(1)— Interest on deposits306 306 — 
Interest rate contracts722 722 — Interest on borrowings1,024 1,024 — 
Interest rate contracts472 472 — Interest on junior subordinated debentures315 315 — 
Total$511 $511 $— $66 $66 $— 
The table below presents the effect of fair value and cash flow hedge accounting on the consolidated statements of income for the periods indicated:
Location and Amount of Gain (Loss) Recognized in Income
Three Months Ended
June 30,
20242023
(Dollars in thousands)Interest and fees on loansInterest on borrowingsInterest on junior subordinated debenturesInterest and fees on loansInterest on depositsInterest on borrowingsInterest on junior subordinated debentures
Total presented on the consolidated statements of income in which the effects of cash flow hedges are recorded$53,422 $5,285 $524 $48,645 $19,245 $3,587 $533 
Gain (loss) on fair value hedging relationships
Interest rate contracts:
Hedged items$(118)$— $— $(7,655)$— $— $— 
Derivatives designated as hedging instruments$1,679 $— $— $8,859 $— $— $— 
Gain (loss) on cash flow hedging relationships
Interest rate contracts:
Amount of gain (loss) reclassified from AOCI into income
$(740)$718 $227 $(862)$— $537 $182 
Amount of gain (loss) reclassified from AOCI into income - included component
$(740)$718 $227 $(862)$— $537 $182 
Amount of gain (loss) reclassified from AOCI into income - excluded component$— $— $— $— $— $— $— 

Location and Amount of Gain (Loss) Recognized in Income
Six Months Ended
June 30,
20242023
(Dollars in thousands)Interest and fees on loansInterest on borrowingsInterest on junior subordinated debenturesInterest and fees on loansInterest on depositsInterest on borrowingsInterest on junior subordinated debentures
Total presented on the consolidated statements of income in which the effects of cash flow hedges are recorded$105,131 $10,483 $1,058 $93,977 $35,077 $5,672 $1,061 
Gain (loss) on fair value hedging relationships
Interest rate contracts:
Hedged items$(4,534)$— $— $(6,103)$— $— $— 
Derivatives designated as hedging instruments$7,640 $— $— $7,786 $— $— $— 
Gain (loss) on cash flow hedging relationships
Interest rate contracts:
Amount of gain (loss) reclassified from AOCI into income$(1,676)$1,396 $454 $(1,579)$306 $1,024 $315 
Amount of gain (loss) reclassified from AOCI into income - included component$(1,676)$1,396 $454 $(1,579)$306 $1,024 $315 
Amount of gain (loss) reclassified from AOCI into income - excluded component$— $— $— $— $— $— $— 
Schedule of Derivatives Not Designated as Hedging Instruments
The table below presents the effect of the Company's derivative financial instruments that are not designated as hedging instruments on the consolidated statements of income for the periods indicated:
Location of Gain (Loss) Recognized in IncomeAmount of Gain (Loss)
Recognized in Income
Three Months Ended
June 30,
Six Months Ended
June 30,
(Dollars in thousands)2024202320242023
Customer loan swapsOther expense$7 $38 $26 $11 
Fixed rate mortgage interest rate lock commitmentsMortgage banking income, net(155)(80)(57)4 
Forward delivery commitmentsMortgage banking income, net(24)116 61 20 
Total $(172)$74 $30 $35