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DERIVATIVES (Tables)
12 Months Ended
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
The following table presents information regarding our derivative financial instruments, at December 31:
2019
 
Number of Instruments
 
Notional Amount
 
Weighted Average Maturity
(in years)
 
Weighted Average Interest Rate Received
 
Weighted Average Contract Pay Rate
 
Fair Value Other Assets/ (Other Liabilities)
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swap agreements on loans with commercial loan customers
 
15

 
$
113,204

 
7.9
 
4.44
%
 
4.03
%
 
$
(6,800
)
Interest rate swap agreements with third-party counter-parties
 
15

 
113,204

 
7.9
 
4.03
%
 
4.44
%
 
6,466

Risk participation agreements
 
3

 
11,819

 
5.6
 
 
 
 
 
(31
)
Total
 
33

 
$
238,227

 
 
 
 
 
 
 
$
(365
)

2018
 
Number of Instruments
 
Notional Amount
 
Weighted Average Maturity
(in years)
 
Weighted Average Interest Rate Received
 
Weighted Average Contract Pay Rate
 
Fair Value Other Assets/ (Other Liabilities)
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swap agreements on loans with commercial loan customers
 
11

 
$
76,395

 
7.1
 
4.69
%
 
4.61
%
 
$
(3,255
)
Interest rate swap agreements with third-party counter-parties
 
11

 
76,395

 
7.1
 
4.61
%
 
4.69
%
 
3,142

Risk participation agreements
 
6

 
20,142

 
15.0
 
 
 
 
 
(27
)
 
 
28

 
$
172,932

 
 
 
 
 
 
 
$
(140
)

2017
 
Number of Instruments
 
Notional Amount
 
Weighted Average Maturity
(in years)
 
Weighted Average Interest Rate Received
 
Weighted Average Contract Pay Rate
 
Fair Value Other Assets/ (Other Liabilities)
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
Interest rate swap agreements on loans with commercial loan customers
 
7

 
$
36,675

 
8.3
 
4.40
%
 
4.17
%
 
$
(974
)
Interest rate swap agreements with third-party counter-parties
 
7

 
36,675

 
8.3
 
4.17
%
 
4.40
%
 
974

Risk participation agreements
 
6

 
20,427

 
17.7
 


 


 
(75
)
 
 
20

 
$
93,777

 
 
 
 
 
 
 
$
(75
)

Schedule of Derivatives Not Designated as Hedging Instruments, Statements of Income
Amounts included in the Consolidated Statements of Income related to derivatives not designated as hedging were as follows:
 
 
Years Ended December 31,
 
 
2019
 
2018
 
2017
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
Interest rate swap agreements with commercial loan customers:
 
 
 
 
 
 
   Unrealized (loss) recognized in non-interest income
 
$
(3,544
)
 
$
(2,281
)
 
$
(281
)
 
 
 
 
 
 
 
Interest rate swap agreements with third-party counter-parties:
 
 
 
 
 
 
   Unrealized gain recognized in non-interest income
 
3,324

 
2,168

 
281

 
 
 
 
 
 
 
Risk participation agreements:
 
 
 
 
 
 
   Unrealized gain (loss) recognized in non-interest income
 
(4
)
 
48

 
(7
)
 
 
 
 
 
 
 
Unrealized gain (loss) recognized in non-interest income
 
$
(224
)
 
$
(65
)
 
$
(7
)