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DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables) | 12 Months Ended
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Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Information About Derivative Assets and Liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2020
​ | ​ | ​ | ​ | Weighted | ​ | ​ |  | ​
​ | ​ | Notional | ​ | Average | ​ | Fair Value | ​ | Location Fair
​ | ​ | Amount | ​ | Maturity | ​ | Asset (Liability) |  | Value Asset
​ |  | (in thousands) |  | (in years) |  | (in thousands) |  | (Liability)
Cash flow hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap on wholesale fundings | ​ | $ | 75,000 |  | ​ | 4.0 | ​ | $ | (2,664) | ​ | Other liabilities
Total cash flow hedges | ​ |  | 75,000 |  | ​ | ​ | ​ | ​ | (2,664) | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fair value hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap on securities | ​ |  | 37,190 |  | ​ | 8.6 | ​ |  | 2,789 | ​ | Other assets
Total fair value hedges | ​ |  | 37,190 |  | ​ | ​ | ​ | ​ | 2,789 | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Economic hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Forward sale commitments | ​ |  | 50,629 |  | ​ | 0.2 | ​ |  | (95) | ​ | Other liabilities
Customer Loan Swaps-MNA Counterparty | ​ | ​ | 235,947 | ​ | ​ | 6.8 | ​ | ​ | (15,938) | ​ | Other liabilities
Customer Loan Swaps-RPA Counterparty | ​ | ​ | 119,285 | ​ | ​ | 7.9 | ​ | ​ | (9,957) | ​ | Other liabilities
Customer Loan Swaps-Customer | ​ | ​ | 355,232 | ​ | ​ | 7.1 | ​ | ​ | 25,895 | ​ | Other assets
Total economic hedges | ​ |  | 761,093 |  | ​ | ​ | ​ | ​ | (95) | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-hedging derivatives: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate lock commitments | ​ |  | 3,320 |  | ​ | 0.1 | ​ |  | 22 | ​ | Other assets
Total non-hedging derivatives | ​ |  | 3,320 |  | ​ | ​ | ​ | ​ | 22 | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | 876,603 | ​ | ​ | ​ | ​ | $ | 52 | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2019
​ | ​ | ​ | ​ | Weighted | ​ | ​ |  | ​
​ | ​ | Notional | ​ | Average | ​ | Fair Value | ​ | Location Fair
​ | ​ | Amount | ​ | Maturity | ​ | Asset (Liability) |  | Value Asset
​ |  | (in thousands) |  | (in years) |  | (in thousands) |  | (Liability)
Cash flow hedges: |  | ​ |  |  | ​ |  |  | ​ |  | ​ | ​
Interest rate swap on wholesale fundings | ​ | $ | 100,000 |  | ​ | 4.6 | ​ | $ | (1,311) | ​ | Other liabilities
Total cash flow hedges | ​ |  | 100,000 |  | ​ | ​ | ​ |  | (1,311) | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fair value hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap on securities | ​ |  | 37,190 |  | ​ | 9.6 | ​ |  | 593 | ​ | Other liabilities
Total fair value hedges | ​ |  | 37,190 |  | ​ | ​ | ​ | ​ | 593 | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Economic hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Forward sale commitments | ​ | ​ | 11,228 |  | ​ | 0.1 | ​ |  | (84) | ​ | Other liabilities
Customer Loan Swaps-MNA Counterparty | ​ | ​ | 135,598 |  | ​ | 7.5 | ​ |  | (4,669) | ​ | (1)
Customer Loan Swaps-RPA Counterparty | ​ | ​ | 69,505 |  | ​ | 8.8 | ​ |  | (3,377) | ​ | (1)
Customer Loan Swaps-Customer | ​ | ​ | 205,103 |  | ​ | 8.1 | ​ |  | 8,046 | ​ | (1)
Total economic hedges | ​ |  | 421,434 |  | ​ | ​ | ​ | ​ | (84) | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-hedging derivatives: | ​ |  |  |  | ​ |  | ​ |  |  | ​ | ​
Interest rate lock commitments | ​ |  | 21,748 |  | ​ | 0.1 | ​ |  | 59 | ​ | Other assets
Total non-hedging derivatives | ​ |  | 21,748 |  | ​ | ​ | ​ |  | 59 | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | 580,372 | ​ | ​ | ​ | ​ | $ | (743) | ​ | ​
(1) | Customer loan derivatives are subject to MNA or RPA arrangements with financial institution counterparties, thus assets and liabilities with the counterparty are netted for financial statement presentation.
Schedule of Amounts Recorded On The Balance Sheet | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ | ​ |  | Cumulative Amount of Fair
​ | ​ | Location of Hedged Item on | ​ | Carrying Amount of Hedged | ​ | Value Hedging Adjustment in
​ |  | Balance Sheet |  | Assets (Liabilities) |  | Carrying Amount
December 31, 2020 |  |  |  | ​ |  |  | ​ |
Interest rate swap on securities |  | Securities Available for Sale | ​ | $ | 40,209 | ​ | $ | 3,019
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
December 31, 2019 |  |  | ​ |  |  | ​ |  |
Interest rate swap on securities |  | Securities Available for Sale | ​ | $ | 39,026 | ​ | $ | 523
Schedule of Derivative Instruments Gain (Loss) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, 2020
​ |  | Amount of |  | ​ |  | Amount of |  | ​ |  | ​
​ | ​ | Gain (Loss) | ​ | ​ | ​ | Gain (Loss) | ​ | ​ | ​ | ​
​ | ​ | Recognized in | ​ | ​ | ​ | Reclassified | ​ | Location of | ​ | Amount of
​ | ​ | Other | ​ | Location of Gain (Loss) | ​ | from Other | ​ | Gain (Loss) | ​ | Gain (Loss)
​ | ​ | Comprehensive | ​ | Reclassified from Other | ​ | Comprehensive | ​ | Recognized in | ​ | Recognized
(in thousands) |  | Income |  | Comprehensive Income |  | Income |  | Income |  | in Income
Cash flow hedges: |  | ​ |  |  |  |  | ​ |  |  |  |  | ​ |
Interest rate swap on wholesale funding | ​ | $ | (2,566) | ​ | Non-interest expense | ​ | $ | (3,935) |  | Interest expense | ​ | $ | (829)
Total cash flow hedges | ​ |  | (2,566) |  | ​ | ​ |  | (3,935) |  |  | ​ |  | (829)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fair value hedges: | ​ |  |  |  |  | ​ |  |  |  |  | ​ |  |
Interest rate swap on securities | ​ |  | 5,458 |  | Interest income | ​ |  | — |  | Interest income | ​ |  | (281)
Total fair value hedges | ​ |  | 5,458 |  | ​ | ​ |  | — |  |  | ​ |  | (281)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Economic hedges: | ​ |  |  |  |  | ​ |  |  |  |  | ​ |  |
Forward commitments | ​ |  | — |  | Other income | ​ |  | — |  | Other income | ​ |  | (11)
Total economic hedges | ​ |  | — |  | ​ | ​ |  | — |  |  | ​ |  | (11)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-hedging derivatives: | ​ |  |  |  |  | ​ |  |  |  |  | ​ |  |
Interest rate lock commitments | ​ |  | — |  | Other income | ​ |  | — |  | Other income | ​ |  | (37)
Total non-hedging derivatives | ​ |  | — |  | ​ | ​ |  | — |  |  | ​ |  | (37)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | 2,892 | ​ | ​ | ​ | $ | (3,935) |  |  | ​ | $ | (1,158)
(1) | As of December 31, 2020 the Company does not expect any gains or losses from accumulated other comprehensive income into earnings within the next 12 months.
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years Ended December 31, 2019
​ |  | Amount of |  | ​ |  | Amount of |  | ​ |  | ​
​ | ​ | Gain (Loss) | ​ | ​ | ​ | Gain (Loss) | ​ | ​ | ​ | Amount of
​ | ​ | Recognized in | ​ | ​ | ​ | Reclassified | ​ | Location of | ​ | Gain (Loss)
​ | ​ | Other | ​ | Location of Gain (Loss) | ​ | from Other | ​ | Gain (Loss) | ​ | Recognized
​ | ​ | Comprehensive | ​ | Reclassified from Other | ​ | Comprehensive | ​ | Recognized in | ​ | Recognized
(in thousands) | ​ | Income | ​ | Comprehensive Income | ​ | Income | ​ | Income | ​ | in Income
Cash flow hedges: |  | ​ |  |  |  | ​ |  |  |  |  |  | ​ |
Interest rate swap on wholesale funding | ​ | $ | — |  | Interest expense | ​ | $ | — |  | Interest expense | ​ | $ | (2)
Interest rate cap agreements | ​ | ​ | 2,291 | ​ | Non-interest expense | ​ | ​ | 3,156 | ​ | Interest expense | ​ | ​ | (603)
Total cash flow hedges | ​ | ​ | 2,291 | ​ | ​ | ​ |  | 3,156 |  | ​ | ​ |  | (605)
​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fair value hedges: | ​ | ​ |  |  |  | ​ |  |  |  |  | ​ |  |
Interest rate swap on securities | ​ |  | (523) |  | Interest income | ​ |  | — |  | Interest income | ​ |  | 7
Total economic hedges | ​ | ​ | (523) | ​ | ​ | ​ |  | — |  |  | ​ |  | 7
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Economic hedges: | ​ | ​ |  |  |  | ​ |  |  |  |  | ​ |  |
Forward commitments | ​ |  | — |  | Other income | ​ |  | — |  | Other income | ​ |  | (84)
Total economic hedges | ​ | ​ | — | ​ | ​ | ​ |  | — |  |  | ​ |  | (84)
​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-hedging derivatives: | ​ |  |  |  |  | ​ |  |  |  |  | ​ |  |
Interest rate lock commitments | ​ |  | — |  | Other income | ​ |  | — |  | Other Income | ​ |  | 52
Total non-hedging derivatives | ​ | ​ | — | ​ | ​ | ​ |  | — |  |  | ​ |  | 52
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | 1,768 |  |  | ​ | $ | 3,156 |  |  | ​ | $ | (630)
​
Schedule of Offsetting Liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Gross Amounts Offset in the Consolidated Balance Sheet
​ | ​ | Derivative | ​ | ​ | ​ | Cash Collateral | ​ | ​ | ​
(in thousands) |  | Liabilities |  | Derivative Assets |  | Pledged |  | Net Amount
As of December 31, 2020 | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Customer Loan Derivatives: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
MNA counterparty | ​ | $ | (15,938) | ​ | $ | 15,938 | ​ | $ | 23,450 | ​ | $ | —
RPA counterparty | ​ |  | (9,957) | ​ |  | 9,957 | ​ |  | — | ​ |  | —
Total | ​ | $ | (25,895) | ​ | $ | 25,895 | ​ | $ | 23,450 | ​ | $ | —

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