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DERIVATIVES (Tables)

6 Months Ended

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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- Definition

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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