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DERIVATIVES (Tables)

3 Months Ended

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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- References

No definition available.

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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

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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

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