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DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 12 Months Ended
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Dec. 31, 2021
DERIVATIVE FINANCIAL INSTRUMENTS |
Summary of fair values of Company's derivative instrument assets and liabilities related to interest rate swap contracts | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021 | ​ | December 31, 2020
​ | ​ | Notional | ​ | Fair | ​ | Notional | ​ | Fair
​ |  | Amount |  | Value |  | Amount |  | Value
​ | ​ | (dollars in thousands)
Fair value recorded in other liabilities | ​ | $ | 17,000 | ​ | $ | (680) | ​ | $ | 17,000 | ​ | $ | (1,458)
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
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2021 | ​ | 2020 |  | 2019
Designated as cash flow hedges: | ​ | (dollars in thousands)
Taxable loan interest income | ​ | $ | — | ​ | $ | 64 | ​ | $ | 116
Junior subordinated debentures interest expense | ​ | ​ | (412) | ​ | ​ | (302) | ​ | ​ | (29)
Total | ​ | $ | (412) | ​ | $ | (238) | ​ | $ | 87
Summary of interest rate swap agreements not designated as hedging instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021 | ​ | December 31, 2020
​ | ​ | Notional | ​ | Fair | ​ | Notional | ​ | Fair
​ |  | Amount |  | Value |  | Amount |  | Value
​ | ​ | (dollars in thousands)
Fair value recorded in other assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps with a commercial borrower counterparty | ​ | $ | 112,041 | ​ | $ | 8,622 | ​ | $ | 122,313 | ​ | $ | 15,360
Interest rate swaps with a financial institution counterparty | ​ | ​ | 3,880 | ​ | ​ | 75 | ​ | ​ | — | ​ | ​ | —
Total fair value recorded in other assets | ​ | $ | 115,921 | ​ | $ | 8,697 | ​ | $ | 122,313 | ​ | $ | 15,360
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fair value recorded in other liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps with a commercial borrower counterparty | ​ | $ | 3,880 | ​ | $ | (75) | ​ | $ | — | ​ | $ | —
Interest rate swaps with a financial institution counterparty | ​ | ​ | 112,041 | ​ | ​ | (8,622) | ​ | ​ | 122,313 | ​ | ​ | (15,360)
Total fair value recorded in other liabilities | ​ | $ | 115,921 | ​ | $ | (8,697) | ​ | $ | 122,313 | ​ | $ | (15,360)
Summary of the effect of interest rate contracts not designated as hedging instruments recognized in other noninterest income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2021 | ​ | 2020 |  | 2019
Not designated as hedging instruments: | ​ | (dollars in thousands)
Gross gains | ​ | $ | 13,773 | ​ | $ | 24,758 | ​ | $ | 13,537
Gross losses | ​ | ​ | (13,773) | ​ | ​ | (24,758) | ​ | ​ | (13,500)
Net gains (losses) | ​ | $ | — | ​ | $ | — | ​ | $ | 37

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