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DERIVATIVES (Tables)

12 Months Ended

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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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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