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DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 3 Months Ended
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Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of fair values of Company's derivative instrument assets and liabilities related to interest rate swap contracts | The interest rate swap agreements designated as cash flow hedges are summarized as follows:
| March 31, 2024 |  | December 31, 2023
(dollars in thousands) | Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
Fair value recorded in other assets | $ | 17,000 |  | $ | 254 |  | $ | 17,000 |  | $ | 322
Schedule of the effect of interest rate contracts designated as cash flow hedges on the consolidated statements of income | The effect of interest rate swap agreements designated as cash flow hedges on the consolidated statements of income are summarized as follows:
Location of gross gain (loss) reclassified from accumulated other comprehensive income (loss) to income |  | Amounts of gross gain (loss) reclassified from accumulated other comprehensive income (loss) |  |
|  | Three Months Ended March 31, |  |
(dollars in thousands) |  | 2024 |  | 2023 |  |  |  |  |  |
Designated as cash flow hedges: |  |  |  |  |  |  |  |  |  |
Junior subordinated debentures interest expense |  | $ | 132 |  | $ | 94 |  |  |  |  |  |  |
Summary of interest rate swap agreements not designated as hedging instruments | The interest rate swap agreements not designated as hedging instruments are summarized as follows:
| March 31, 2024 |  | December 31, 2023
(dollars in thousands) | Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
Fair value recorded in other assets: |  |  |  |  |  |  |
Interest rate swaps with a commercial borrower counterparty | $ | — |  | $ | — |  | $ | — |  | $ | —
Interest rate swaps with a financial institution counterparty | 93,199 |  | 7,507 |  | 94,497 |  | 6,227
Total fair value recorded in other assets | $ | 93,199 |  | $ | 7,507 |  | $ | 94,497 |  | $ | 6,227
Fair value recorded in other liabilities: |  |  |  |  |  |  |
Interest rate swaps with a commercial borrower counterparty | $ | 93,199 |  | $ | (7,507) |  |  | $ | 94,497 |  | $ | (6,227) |
Interest rate swaps with a financial institution counterparty | — |  | — |  | — |  | —
Total fair value recorded in other liabilities | $ | 93,199 |  | $ | (7,507) |  | $ | 94,497 |  | $ | (6,227)
Summary of the effect of interest rate contracts not designated as hedging instruments recognized in other noninterest income | The effect of interest rate contracts not designated as hedging instruments recognized in other noninterest income on the consolidated statements of income are summarized as follows:
| Three Months Ended March 31, |  |
(dollars in thousands) | 2024 |  | 2023 |  |  |  |  |  |
Not designated as hedging instruments: |
Gross gains | $ | 2,038 |  |  | $ | 2,737 |  |  |  |  |  |  |
Gross losses | (2,038) |  |  | (2,737) |  |  |  |  |  |  |
Net gains (losses) | $ | — |  |  | $ | — |  |  |  |  |  |  |

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