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DERIVATIVES (Tables) | 9 Months Ended
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Sep. 30, 2024
DERIVATIVES |
Schedule of notional amount and fair value | The following tables reflect the derivatives recorded on the balance sheet (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Fair Value
​ | ​ | ​ | Notional | ​ | ​ | Other | ​ | ​ | Other
​ | ​ | ​ | Amount | ​ | ​ | Assets | ​ | ​ | Liabilities
At September 30, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives designated as hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps related to client deposits and borrowings | ​ | $ | 550,000 | ​ | $ | — | ​ | $ | 2,756
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives not designated as hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps | ​ | $ | 69,000 | ​ | $ | 1,298 | ​ | $ | 1,298
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At December 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives designated as hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps related to client deposits and borrowings | ​ | $ | 700,000 | ​ | $ | 1,530 | ​ | $ | 4,880
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives not designated as hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps | ​ | $ | 69,000 | ​ | $ | 1,157 | ​ | $ | 1,157
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):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended September 30, | ​ | Nine months ended September 30,
​ |  | 2024 |  | 2023 | ​ | 2024 |  | 2023
Interest rate swaps and caps related to client deposits and borrowings | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​
Amount of gain (loss) recognized in OCI, net of tax | ​ | $ | (4,518) | ​ | $ | 509 | ​ | $ | 417 | ​ | $ | 4,517
Amount of gain (loss) reclassified from OCI into income | ​ | $ | 1,245 | ​ | $ | 1,200 | ​ | $ | 3,757 | ​ | $ | 3,653
Location of gain (loss) reclassified from OCI into income | ​ |  | Licensing fees | ​ |  | Licensing fees | ​ |  | Licensing fees | ​ |  | Licensing fees
​

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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 -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
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