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INTEREST RATE SWAPS (Tables) | 9 Months Ended
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Sep. 30, 2024
Summary of net gains (losses) in OCI and the consolidated statements of income relating to the swaps | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended | ​ | ​
​ | ​ | September 30, | ​ | September 30, | ​ | ​
(in thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023 | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gains (losses) recognized in OCI on derivative (effective portion) |  | $ | (3,134) |  | $ | — |  | $ | (3,580) |  | $ | — | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gains (losses) reclassified from OCI on derivative (effective portion) | ​ | ​ | 289 |  | ​ | — |  | ​ | 380 |  | ​ | — | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Gains (losses) recognized in income on derivative (ineffective portion) | ​ | ​ | — |  | ​ | — |  | ​ | — |  | ​ | — | ​ | ​
FHLB Advances |
Summary of interest rate swaps | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | September 30, 2024 | ​ | December 31, 2023
​ | ​ | ​ | ​ | Notional | ​ | ​ | ​ | Notional | ​ | ​
(dollars in thousands) |  | Bank Position |  | Amount |  | Fair Value |  | Amount |  | Fair Value
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap on FHLB advances - Liabilities |  | Pay fixed/receive variable |  | $ | 100,000 |  | $ | (3,960) |  | $ | — |  | $ | —
Total |  | ​ | ​ | $ | 100,000 | ​ | $ | (3,960) | ​ | $ | — | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | September 30, 2024 | ​ | December 31, 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Unrealized | ​ | ​ | ​ | ​ | Unrealized
​ | ​ | Notional | ​ | Pay | ​ | Receive | ​ | ​ | ​ | ​ | ​ | Assets / | ​ | Gain (Loss) | ​ | Assets / | ​ | Gain (Loss)
(dollars in thousands) |  | Amount |  | Rate |  | Rate |  | Term | ​ | Bank Position |  | (Liabilities) |  | in AOCI |  | (Liabilities) |  | in AOCI
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap on FHLB advances - Liabilities |  | $ | 100,000 |  | 4.14 | % |  | 1M SOFR |  | 5/2024 - 6/2029 | ​ | Pay fixed/receive variable |  | $ | 100,000 |  | $ | (3,960) |  | $ | — |  | $ | —
Total |  | $ | 100,000 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 100,000 | ​ | $ | (3,960) | ​ | $ | — | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three Months Ended | ​ | Nine Months Ended |
​ | ​ | September 30, | ​ | September 30, | ​
(in thousands) | ​ | 2024 |  | 2023 |  | 2024 |  | 2023 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap on FHLB advances | ​ | $ | (289) | ​ | $ | — | ​ | $ | (380) | ​ | $ | — | ​
Total interest (benefit) expense on swap transactions | ​ | $ | (289) | ​ | $ | — | ​ | $ | (380) | ​ | $ | — | ​
Interest rate swap |
Summary of interest rate swaps | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ |  | September 30, 2024 | ​ | December 31, 2023
​ | ​ | ​ | ​ | Notional | ​ | ​ | ​ | ​ | Notional | ​ | ​ | ​
(in thousands) |  | Bank Position | ​ | Amount |  | Fair Value |  | Amount |  | Fair Value
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps with Bank clients - Assets |  | Pay variable/receive fixed |  | $ | 156,162 | ​ | $ | 5,803 |  | $ | 120,442 |  | $ | 4,066
Interest rate swaps with Bank clients - Liabilities |  | Pay variable/receive fixed |  | ​ | 83,252 |  | ​ | (3,270) |  | ​ | 95,820 | ​ | ​ | (4,867)
Interest rate swaps with Bank clients - Total |  | Pay variable/receive fixed |  | $ | 239,414 |  | $ | 2,533 |  | $ | 216,262 |  | $ | (801)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Offsetting interest rate swaps with institutional swap dealer - Assets | ​ | Pay fixed/receive variable | ​ | ​ | 83,252 | ​ | ​ | 3,270 | ​ | ​ | 95,820 | ​ | ​ | 4,867
Offsetting interest rate swaps with institutional swap dealer - Liabilities | ​ | Pay fixed/receive variable | ​ | ​ | 156,162 | ​ | ​ | (5,803) | ​ | ​ | 120,442 | ​ | ​ | (4,066)
Offsetting interest rate swaps with institutional swap dealer - Total | ​ | Pay fixed/receive variable | ​ | $ | 239,414 |  | $ | (2,533) |  | $ | 216,262 |  | $ | 801
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | ​ |  | $ | 478,828 | ​ | $ | — |  | $ | 432,524 | ​ | $ | —

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- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
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- Definition Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
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