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DERIVATIVES (Tables) | 6 Months Ended
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Jun. 30, 2024
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, 2024 and December 31, 2023:
(Dollars in thousands) |  | June 30, 2024 |  |  | December 31, 2023 |
Notional amount |  | $ | 310,000 |  |  | $ | 310,000 |
Weighted average pay rate |  |  | 2.22 | % |  |  | 2.22 | %
Weighted average receive rate |  |  | 4.14 | % |  |  | 4.14 | %
Weighted average maturity |  | 2.49 years |  |  | 2.98 years |
Unrealized gain/(loss), net |  | $ | 9,461 |  |  | $ | 6,814 |
Number of contracts |  |  | 12 |  |  |  | 12 |
Schedule of Cash Flow Hedges Included in Financial Statements |
|  | June 30, 2024 |
|  | Notional |  |  | Fair |
(In thousands) |  | Amount |  |  | Value |
Interest rate swaps related to interest-bearing deposits |  | $ | 310,000 |  |  | $ | 9,461 |
Total included in other assets |  | $ | 310,000 |  |  |  | 9,461 |
Total included in other liabilities |  |  | — |  |  |  | — |
|  | December 31, 2023 |
|  | Notional |  |  | Fair |
(In thousands) |  | Amount |  |  | Value |
Interest rate swaps related to interest-bearing deposits |  | $ | 310,000 |  |  | $ | 6,814 |
Total included in other assets |  |  | 310,000 |  |  |  | 6,814 |
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, 2024 and 2023:
|  | For the Three Months Ended June 30, |  |  | For the Six Months Ended June 30, |
(In thousands) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Interest rate contracts |  |  |  |  |  |  |  |  |  |  |  |
Gain/(loss) recognized in other comprehensive income (effective portion) |  | $ | (225 | ) |  | $ | 4,775 |  |  | $ | 2,647 |  |  | $ | 2,043 |
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, 2024 |  |  | December 31, 2023 |
Notional amount |  | $ | 498,763 |  |  | $ | 545,983 |
Fair value |  | $ | (26,426 | ) |  | $ | (22,452 | )
Weighted average pay rates |  |  | 3.92 | % |  |  | 3.95 | %
Weighted average receive rates |  |  | 7.04 | % |  |  | 7.09 | %
Weighted average maturity |  | 3.67 years |  |  | 3.93 years |
Number of contracts |  |  | 65 |  |  |  | 71 |

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