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v3.22.1

DERIVATIVES (Tables) | 3 Months Ended
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Mar. 31, 2022
DERIVATIVES |
Schedule of notional amount and fair value | The following tables reflect the derivatives recorded on the balance sheet (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Notional Amount | ​ | ​ | Fair Value
At March 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​
Derivatives designated as hedges: | ​ | ​ | ​ | ​ | ​ | ​
Interest rate caps related to customer deposits | ​ | $ | 300,000 | ​ | $ | 12,076
Total included in Other Assets | ​ | $ | 300,000 | ​ | $ | 12,076
​ | ​ | ​ | ​ | ​ | ​ | ​
At December 31, 2021 | ​ | ​ | ​ | ​ | ​ | ​
Derivatives designated as hedges: | ​ | ​ | ​ | ​ | ​ | ​
Interest rate caps related to customer deposits | ​ | $ | 300,000 | ​ | $ | 3,385
Total included in Other Assets | ​ | $ | 300,000 | ​ | $ | 3,385
Schedule of effect of cash flow hedge accounting on accumulated other comprehensive income | The effect of cash flow hedge accounting on accumulated other comprehensive income is as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Location of | ​ | Amount of
​ | ​ | Amount of | ​ | Gain (Loss) | ​ | Gain (Loss)
​ | ​ | Gain (Loss) | ​ | Reclassified | ​ | Reclassified
​ | ​ | Recognized in OCI, | ​ | from OCI into | ​ | from OCI into
​ | ​ | net of tax | ​ | Income | ​ | Income
At March 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate caps related to customer deposits | ​ | $ | 2,305 | ​ | $ | N/A | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At December 31, 2021 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate caps related to customer deposits | ​ | $ | 2,059 | ​ | $ | N/A | ​ | $ | —

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- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 + Details
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