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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
12 Months Ended
Dec. 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 were as follows:
December 31, 2024December 31, 2023
(dollars in thousands)Notional
Amount
Fair
Value
Notional
Amount
Fair
Value
Fair value recorded in other assets$7,000 $38 $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 was 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)
Year Ended
December 31,
(dollars in thousands)202420232022
Designated as cash flow hedges:
Junior subordinated debentures interest expense$348$468 $(126)
Summary of interest rate swap agreements not designated as hedging instruments
The interest rate swap agreements not designated as hedging instruments were as follows:
December 31, 2024December 31, 2023
(dollars in thousands)Notional
Amount
Fair
Value
Notional
Amount
Fair
Value
Fair value recorded in other assets:
Interest rate swaps with a commercial borrower counterparty$— $— $— $— 
Interest rate swaps with a financial institution counterparty79,416 5,515 94,497 6,227 
Total fair value recorded in other assets$79,416 $5,515 $94,497 $6,227 
Fair value recorded in other liabilities:
Interest rate swaps with a commercial borrower counterparty$79,416 $(5,515)$94,497 $(6,227)
Interest rate swaps with a financial institution counterparty— — — — 
Total fair value recorded in other liabilities$79,416 $(5,515)$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 was as follows:
Year Ended
December 31,
(dollars in thousands)202420232022
Not designated as hedging instruments:
Gross gains$10,781 $11,198 $16,002 
Gross losses(10,781)(11,198)(16,002)
Net gains (losses)$— $— $— 
Schedule of derivative instruments The risk participation agreement matures in 2035 and is summarized as follows:
(dollars in thousands)December 31, 2024December 31, 2023
Risk participation agreements sold
Notional amount$5,268 $— 
Fair value(10)—