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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Instruments

The following table summarizes the fair value of the Company's derivative instruments at September 30, 2020 and December 31, 2019:

			September 30, 2020																		December 31, 2019
			Notional Amount						Balance Sheet Location						Fair Value						Notional Amount						Balance Sheet Location						Fair Value
Derivatives designated as hedging instruments:
Interest rate swaps - balance sheet hedge			$	100,000					Other liabilities						$	(1,657)					$	—											$	—
Total derivatives designated as hedging instruments															$	(1,657)																	$	—
Derivatives not designated as hedging instruments:
Interest rate swap - commercial borrower			$	11,901					Other assets						$	347					$	—											$	—
Interest rate swap - counterparty			11,901						Other liabilities						(368)						—												—
Interest Rate lock commitments with customers			33,560						Other assets						1,143						4,408						Other assets						103
Forward sale commitment			11,699						Other assets						17						8,969						Other assets						1
Total derivatives not designated as hedging instruments															$	1,139																	$	104

Effect of Derivative Financial Instruments on OCI and Net Income

The following tables summarize the effect of the Company's derivative financial instruments on OCI and net income for the three and nine months ended September 30, 2020 and 2019:

			Amount of Gain Recognized in OCI on Derivative												Amount of Loss Recognized in OCI on Derivative
			Three Months Ended September 30,												Nine Months Ended September 30,
			2020						2019						2020						2019
Derivatives in cash flow hedging relationships:
Interest rate products			$	208					$	—					$	(1,893)					$	—
Total			$	208					$	—					$	(1,893)					$	—

			Amount of Loss Reclassified from Accumulated OCI into Income												Amount of Loss Reclassified from AOCI into Income												Location of Loss Recognized from AOCI into Income
			Three Months Ended September 30,												Nine Months Ended September 30,
			2020						2019						2020						2019
Derivatives in cash flow hedging relationships:
Interest rate products			$	(114)					$	—					$	(239)					$	—					Interest expense
Total			$	(114)					$	—					$	(239)					$	—

			Amount of Gain (Loss) Recognized in Income												Amount of Gain (Loss) Recognized in Income												Location of Gain (Loss) Recognized in Income
			Three Months Ended September 30,												Nine Months Ended September 30,
			2020						2019						2020						2019
Derivatives not designated as hedging instruments:
Interest rate products			$	(4)					$	—					$	(21)					$	—					Other operating expenses
Interest rate lock commitments with customers			157						—						1,040						—						Mortgage banking activities
Forward sale commitment			71						—						(126)						—						Mortgage banking activities
Total			$	224					$	—					$	893					$	—

Summary of Interest Rate Swap Components

The following table is a summary of interest rate swap components at September 30, 2020 and December 31, 2019:

			September 30, 2020						December 31, 2019
Weighted average pay rate			0.54		%				—		%
Weighted average receive rate			0.80		%				—		%
Weighted average maturity in years			5.5						—

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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