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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2023

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, 2023 and December 31, 2022:

			September 30, 2023																		December 31, 2022
			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			$	75,000					Other assets						$	2,616					n/a						n/a						n/a
Interest rate swaps - balance sheet hedge			$	50,000					Other liabilities						$	(758)					$	100,000					Other liabilities						$	(973)
Total derivatives designated as hedging instruments															$	1,858																	$	(973)
Derivatives not designated as hedging instruments:
Interest rate swaps			$	153,828					Other assets						$	13,911					$	128,385					Other assets						$	10,437
Interest rate swaps			153,828						Other liabilities						(13,517)						128,385						Other liabilities						(10,262)
Purchased options – rate cap			5,932						Other assets						21						6,000						Other assets						29
Written options – rate cap			5,932						Other liabilities						(21)						6,000						Other liabilities						(29)
Risk participations - sold credit protection			32,588						Other liabilities						(32)						29,019						Other liabilities						(69)
Risk participations - purchased credit protection			4,864						Other assets						5						4,941						Other assets						16
Interest rate lock commitments with customers			593						Other assets						15						1,356						Other assets						35
Forward sale commitments			150						Other assets						2						3,483						Other assets						140
Total derivatives not designated as hedging instruments															$	384																	$	297

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, 2023 and 2022:

			Amount of Gain (Loss) Recognized in OCI on Derivative												Amount of Gain (Loss) Recognized in OCI on Derivative
			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
Derivatives in cash flow hedging relationships:
Interest rate products			$	1,439					$	(562)					$	2,831					$	(562)
Total			$	1,439					$	(562)					$	2,831					$	(562)

			Amount of Loss Reclassified from AOCI 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,
			2023						2022						2023						2022
Derivatives in cash flow hedging relationships:
Interest rate products			$	—					$	—					$	—					$	—					Interest income
Total			$	—					$	—					$	—					$	—

			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,
			2023						2022						2023						2022
Derivatives not designated as hedging instruments:
Interest rate products			$	307					$	179					$	188					$	309					Other operating expenses
Risk participation agreements			31						(11)						58						19						Other operating expenses
Interest rate lock commitments with customers			(52)						(98)						(20)						(265)						Mortgage banking activities
Forward sale commitments			—						(610)						(139)						21						Mortgage banking activities
Total			$	286					$	(540)					$	87					$	84

Summary of Interest Rate Swap Components

The following table is a summary of components for interest rate swaps designated as hedging instruments at September 30, 2023 and December 31, 2022:

			September 30, 2023						December 31, 2022
Weighted average pay rate			4.22		%				3.81		%
Weighted average receive rate			4.68		%				3.81		%
Weighted average maturity in years			3.1						1.2

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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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