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DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended
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Sep. 30, 2022
DERIVATIVE FINANCIAL INSTRUMENTS |
Summary of fair values of Company's derivative instrument assets and liabilities related to interest rate swap contracts | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2022 | ​ | December 31, 2021
​ | ​ | Notional | ​ | Fair | ​ | Notional | ​ | Fair
​ |  | Amount |  | Value |  | Amount |  | Value
​ | ​ | (dollars in thousands)
Fair value recorded in other assets | ​ | $ | 17,000 | ​ | $ | 614 | ​ | $ | — | ​ | $ | —
Fair value recorded in other liabilities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 17,000 | ​ | ​ | (680)
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 (loss) to income | ​ | other comprehensive income
​ | ​ | Three Months Ended | ​ | Nine Months Ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2022 |  | 2021 | ​ | 2022 |  | 2021
Designated as cash flow hedges: | ​ | (dollars in thousands)
Junior subordinated debentures interest expense | ​ | $ | (14) | ​ | $ | (105) | ​ | $ | (177) | ​ | $ | (306)
Summary of interest rate swap agreements not designated as hedging instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2022 | ​ | December 31, 2021
​ | ​ | 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
Interest rate swaps with a financial institution counterparty | ​ | ​ | 109,468 | ​ | ​ | 7,431 | ​ | ​ | 3,880 | ​ | ​ | 75
Total fair value recorded in other assets | ​ | $ | 109,468 | ​ | $ | 7,431 | ​ | $ | 115,921 | ​ | $ | 8,697
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fair value recorded in other liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps with a commercial borrower counterparty | ​ | $ | 109,468 | ​ | $ | (7,431) | ​ | $ | 3,880 | ​ | $ | (75)
Interest rate swaps with a financial institution counterparty | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 112,041 | ​ | ​ | (8,622)
Total fair value recorded in other liabilities | ​ | $ | 109,468 | ​ | $ | (7,431) | ​ | $ | 115,921 | ​ | $ | (8,697)
Summary of the effect of interest rate contracts not designated as hedging instruments recognized in other noninterest income | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2022 |  | 2021 | ​ | 2022 |  | 2021
Not designated as hedging instruments: | ​ | (dollars in thousands)
Gross gains | ​ | $ | 5,209 | ​ | $ | 1,843 | ​ | $ | 15,303 | ​ | $ | 12,281
Gross losses | ​ | ​ | (5,209) | ​ | ​ | (1,843) | ​ | ​ | (15,303) | ​ | ​ | (12,281)
Net gains (losses) | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —

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