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DERIVATIVES (Tables) | 12 Months Ended
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Dec. 31, 2021
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, 2021 and 2020 is presented in the following table:
(Dollars in thousands) |  | 2021 |  |  | 2020 |
Notional amount |  | $ | 230,000 |  |  | $ | 270,000 |
Weighted average pay rate |  |  | 1.99 | % |  |  | 1.93 | %
Weighted average receive rate |  |  | 0.20 | % |  |  | 0.22 | %
Weighted average maturity |  | 1.04 years |  |  | 2.02 years |
Unrealized loss, net |  | $ | (3,479 | ) |  | $ | (9,616 | )
Number of contracts |  |  | 11 |  |  |  | 13 |
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:
(In thousands) |  | 2021 |  |  | 2020 |
Interest rate contracts |  |  |  |  |  |  |  |
Gain/(loss) recognized in other comprehensive income, net of tax (effective portion) |  | $ | 4,412 |  |  | $ | (4,412 | )
Gain/(loss) reclassified from other comprehensive income to interest expense |  |  | — |  |  |  | (89 | )
Gain/(loss) recognized in other noninterest income |  |  | (842 | ) |  |  | — |
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, 2021, and 2020:
|  | December 31, 2021 |
|  | Notional |  |  | Fair |
(In thousands) |  | Amount |  |  | Value |
Interest rate swaps related to interest-bearing deposits |  | $ | 230,000 |  |  | $ | (3,479 | )
Total included in other assets |  |  | — |  |  |  | — |
Total included in other liabilities |  |  | 230,000 |  |  |  | (3,479 | )
|  | December 31, 2020 |
|  | Notional |  |  | Fair |
(In thousands) |  | Amount |  |  | Value |
Interest rate swaps related to interest-bearing deposits |  | $ | 270,000 |  |  | $ | (9,616 | )
Total included in other assets |  |  | — |  |  |  | — |
Total included in other liabilities |  |  | 270,000 |  |  |  | (9,616 | )
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, 2021 |  |  | December 31, 2020 |
Notional amount |  | $ | 702,210 |  |  | $ | 823,134 |
Fair value (A) |  | $ | 37,168 |  |  | $ | 79,529 |
Weighted average pay rates |  |  | 4.00 | % |  |  | 4.02 | %
Weighted average receive rates |  |  | 1.83 | % |  |  | 1.91 | %
Weighted average maturity |  | 5.5 years |  |  | 6.5 years |
Number of contracts |  |  | 86 |  |  |  | 95 |
(A) | The December 31, 2021, amount includes the fair value of the loan level swap asset of $32.3 million plus accrued interest receivable of $4.8 million on back-to-back swap loans.

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