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v3.20.1

DERIVATIVES (Tables) | 12 Months Ended
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Dec. 31, 2019
Schedule of Information about Interest Rate Swaps Designated as Cash Flow Hedges | Information about the interest rate swaps designated as cash flow hedges as of December 31, 2019 and 2018 is presented in the following table:
(Dollars in thousands) |  | 2019 |  |  | 2018 |
Notional amount |  | $ | 245,000 |  |  | $ | 230,000 |
Weighted average pay rate |  |  | 2.05 | % |  |  | 2.04 | %
Weighted average receive rate |  |  | 1.83 | % |  |  | 2.33 | %
Weighted average maturity |  | 2.45 years |  |  | 2.65 years |
Unrealized (loss)/gain, net |  | $ | (3,667 | ) |  | $ | 808 |
Number of contracts |  |  | 12 |  |  |  | 11 |
Schedule of Net Gains/(Losses) Recorded in Accumulated Other Comprehensive Income | The following table presents the net gains/(losses) recorded in accumulated other comprehensive income and the consolidated financial statements relating to the cash flow derivative instruments for the year ended December 31:
2019 |
|  |  |  |  |  |  |  |  |  | Amount of |
|  | Amount of |  |  | Amount of |  |  | Gain/(Loss) |
|  | Gain/(Loss) |  |  | Gain/(Loss) |  |  | Recognized in |
|  | Recognized |  |  | Reclassified |  |  | Other Non- Interest |
|  | In OCI |  |  | From OCI to |  |  | Expense |
(In thousands) |  | (Effective Portion) |  |  | Interest Expense |  |  | (Ineffective Portion) |
Interest rate contracts |  | $ | (4,252 | ) |  | $ | (223 | ) |  | $ | — |
2018 |
|  |  |  |  |  |  |  |  |  | Amount of |
|  | Amount of |  |  | Amount of |  |  | Gain/(Loss) |
|  | Gain/(Loss) |  |  | Gain/(Loss) |  |  | Recognized in |
|  | Recognized |  |  | Reclassified |  |  | Other Non- Interest |
|  | In OCI |  |  | From OCI to |  |  | Expense |
(In thousands) |  | (Effective Portion) |  |  | Interest Expense |  |  | (Ineffective Portion) |
Interest rate contracts |  | $ | (328 | ) |  | $ | (124 | ) |  | $ | — |
Schedule of Cash Flow Hedges Included in Financial Statements | The following tables reflect the cash flow hedges included in the financial statements as of December 31, 2019 and 2018:
|  | December 31, 2019 |
|  | Notional |  |  | Fair |
(In thousands) |  | Amount |  |  | Value |
Interest rate swaps related to interest-bearing deposits |  | $ | 245,000 |  |  | $ | (3,667 | )
Total included in other assets |  |  | 70,000 |  |  |  | 121 |
Total included in other liabilities |  |  | 175,000 |  |  |  | (3,788 | )
|  | December 31, 2018 |
|  | Notional |  |  | Fair |
(In thousands) |  | Amount |  |  | Value |
Interest rate swaps related to interest-bearing deposits |  | $ | 230,000 |  |  | $ | 808 |
Total included in other assets |  |  | 130,000 |  |  |  | 1,657 |
Total included in other liabilities |  |  | 100,000 |  |  |  | (849 | )
Not Designated as Hedging Instrument [Member] |
Schedule of Information about Interest Rate Swaps Designated as Cash Flow Hedges | Information about these swaps is as follows:
(Dollars in thousands) |  | December 31, 2019 |  |  | December 31, 2018 |
Notional amount |  | $ | 793,875 |  |  | $ | 558,690 |
Fair value |  | $ | 32,381 |  |  | $ | 9,689 |
Weighted average pay rates |  |  | 4.12 | % |  |  | 4.44 | %
Weighted average receive rates |  |  | 3.54 | % |  |  | 4.24 | %
Weighted average maturity |  | 7.3 years |  |  | 7.1 years |
Number of contracts |  |  | 91 |  |  |  | 67 |

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