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DERIVATIVES (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Information about Interest Rate Swaps Designated as Cash Flow Hedges

The following table presents information about the interest rate swaps designated as cash flow hedges as of June 30, 2023 and December 31, 2022:

(Dollars in thousands)		June 30, 2023				December 31, 2022
Notional amount		$	310,000			$	290,000
Weighted average pay rate			2.15	%			1.71	%
Weighted average receive rate			3.78	%			2.78	%
Weighted average maturity		3.49 years				2.01 years
Unrealized gain/(loss), net		$	11,248			$	3,290
Number of contracts			12				12

Schedule of Cash Flow Hedges Included in Financial Statements

		June 30, 2023
		Notional				Fair
(In thousands)		Amount				Value
Interest rate swaps related to interest-bearing deposits		$	310,000			$	11,248
Total included in other assets		$	310,000			$	11,248
Total included in other liabilities

		December 31, 2022
		Notional				Fair
(In thousands)		Amount				Value
Interest rate swaps related to interest-bearing deposits		$	290,000			$	3,290
Total included in other assets			290,000				3,290
Total included in other liabilities			—				—

Schedule of Net Gains/(Losses) Recorded in Accumulated Other Comprehensive Income/(Loss)

The following table presents the net gains/(losses) recorded in accumulated other comprehensive income/(loss) and the consolidated financial statements relating to the cash flow derivative instruments for the three month and six months ended June 30, 2023 and 2022:

		For the Three Months Ended  June 30,								For the Six Months Ended June 30,
(In thousands)		2023				2022				2023				2022
Interest rate contracts
Gain/(loss) recognized in other comprehensive income (effective portion)		$	4,775			$	1,155			$	2,043			$	3,951
Gain/(loss) reclassified from other comprehensive income to interest expense			—				—				—				—
Gain/(loss) recognized in other noninterest income		$	(42	)			—				(84	)			—

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)		June 30, 2023				December 31, 2022
Notional amount		$	585,234			$	612,211
Fair value		$	(36,355	)		$	(37,173	)
Weighted average pay rates			3.99	%			3.99	%
Weighted average receive rates			6.87	%			6.14	%
Weighted average maturity		4.06 years				4.68 years
Number of contracts			76				78

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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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