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DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 3 Months Ended
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Mar. 31, 2022
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 March 31, 2022 and December 31, 2021:
| March 31, 2022 |  | December 31, 2021
| Notional Amount |  | Balance Sheet Location |  | Fair Value |  | Notional Amount |  | Balance Sheet Location |  | Fair Value
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 60,279 |  |  | Other assets |  | $ | 3,067 |  |  | $ | 37,915 |  |  | Other assets |  | $ | 764 |
Interest rate swaps | 60,279 |  |  | Other liabilities |  | (3,024) |  |  | 37,915 |  |  | Other liabilities |  | (758) |
Risk participation | 15,855 |  |  | Other liabilities |  | (1) |  |  | 15,855 |  |  | Other liabilities |  | (2) |
Interest rate lock commitments with customers | 12,302 |  |  | Other assets |  | 300 |  |  | 16,604 |  |  | Other assets |  | 353 |
Forward sale commitment | 7,537 |  |  | Other assets |  | 353 |  |  | 8,665 |  |  | Other assets |  | 52 |
Total derivatives not designated as hedging instruments |  |  |  |  | $ | 695 |  |  |  |  |  |  | $ | 409 |
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 months ended March 31, 2022 and 2021:
|  |  | Amount of Gain Recognized in OCI on Derivative
|  |  | Three Months Ended March 31,
|  |  |  |  | 2022 |  | 2021
Derivatives in cash flow hedging relationships: |  |  |  |  |  |
Interest rate products |  |  |  |  | $ | — |  |  | $ | 739 |
Total |  |  |  |  | $ | — |  |  | $ | 739 |
|  |  | Amount of Loss Reclassified from AOCI into Income |  | Location of Loss Recognized from AOCI into Income
|  |  | Three Months Ended March 31, |  |
|  |  |  |  | 2022 |  | 2021 |  |
Derivatives in cash flow hedging relationships: |  |  |  |  |  |  |  |
Interest rate products |  |  |  |  | $ | — |  |  | $ | (87) |  |  | Interest expense
Total |  |  |  |  | $ | — |  |  | $ | (87) |  |  |
During the three months ended September 30, 2021, the Company terminated its interest rate swap designated as a hedging instrument of $50.0 million.
|  |  | Amount of Gain (Loss) Recognized in Income |  | Location of Gain (Loss) Recognized in Income
|  |  | Three Months Ended March 31, |  |
|  |  |  |  | 2022 |  | 2021 |  |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |
Interest rate products |  |  |  |  | $ | 37 |  |  | $ | 52 |  |  | Other operating expenses
Risk participation agreement |  |  |  |  | 2 |  |  | 4 |  |  | Other operating expenses
Interest rate lock commitments with customers |  |  |  |  | (53) |  |  | (1) |  |  | Mortgage banking activities
Forward sale commitment |  |  |  |  | 300 |  |  | 254 |  |  | Mortgage banking activities
Total |  |  |  |  | $ | 286 |  |  | $ | 309 |  |  |

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging 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 4B -URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 + Details
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