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DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 3 Months Ended
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Mar. 31, 2020
DERIVATIVE FINANCIAL INSTRUMENTS |
Summary of fair values of Company’s derivative instrument assets and liabilities related to interest rate swap contracts |
|  | March 31, 2020 |  | December 31, 2019
|  | Notional |  | Fair |  | Notional |  | Fair
|  | Amount |  | Value |  | Amount |  | Value
Designated as cash flow hedges: |  | (dollars in thousands)
Fair value recorded in other liabilities |  | $ | 17,000 |  | $ | (1,612) |  | $ | 17,000 |  | $ | (676)
Schedule of the effect of interest rate contracts designated as cash flow hedges on the consolidated statements of income |
Location of gross gain (loss) reclassified |  | Amounts of gross gain (loss)
from accumulated other |  | reclassified from accumulated
comprehensive income to income |  | other comprehensive income
|  | Three Months Ended
|  | March 31,
|  | 2020 |  | 2019
Designated as cash flow hedges: |  | (dollars in thousands)
Taxable loan interest income |  | $ | 32 |  | $ | 30
Subordinated debentures interest expense |  |  | (34) |  |  | —
Total |  | $ | (2) |  | $ | 30
Summary of interest rate swap agreements not designated as hedging instruments |
|  | March 31, 2020 |  | December 31, 2019
|  | Notional |  | Fair |  | Notional |  | Fair
|  | Amount |  | Value |  | Amount |  | Value
Not designated as hedging instruments: |  | (dollars in thousands)
Fair value recorded in other assets: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps with commercial borrower counterparties |  | $ | 137,216 |  | $ | 21,946 |  | $ | 114,140 |  | $ | 8,532
Interest rate swaps with financial institution counterparty |  |  | — |  |  | — |  |  | 24,216 |  |  | 110
Total fair value recorded in other assets |  | $ | 137,216 |  | $ | 21,946 |  | $ | 138,356 |  | $ | 8,642
Fair value recorded in other liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps with commercial borrower counterparties |  | $ | — |  | $ | — |  | $ | 24,216 |  | $ | (110)
Interest rate swaps with financial institution counterparty |  |  | 137,216 |  |  | (21,946) |  |  | 114,140 |  |  | (8,532)
Total fair value recorded in other liabilities |  | $ | 137,216 |  | $ | (21,946) |  | $ | 138,356 |  | $ | (8,642)
Summary of the effect of interest rate contracts not designated as hedging instruments recognized in other noninterest income |
|  | Three Months Ended
|  | March 31,
|  | 2020 |  | 2019
Not designated as hedging instruments: |  | (dollars in thousands)
Gross gains |  | $ | 13,571 |  | $ | 1,169
Gross losses |  |  | (13,571) |  |  | (1,169)
Net gains (losses) |  | $ | — |  | $ | —

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