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DERIVATIVES AND HEDGING ACTIVITIES (Tables) | 6 Months Ended
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Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of interest-rate swaps designated as cash flow hedges | Summary information about the interest-rate swaps designated as cash flow hedges as of period-end is as follows:
| June 30, 2023 |  | December 31, 2022
| (Dollars in thousands)
Notional amounts | $ | 209,000 |  |  | $ | 109,000 |
Weighted average pay rates | 2.53 | % |  | 1.46 | %
Weighted average receive rates | 5.25 | % |  | 4.61 | %
Weighted average maturity (in years) | 3.8 |  | 4.2
Gross unrealized gain included in other assets | $ | 12,527 |  |  | $ | 11,091 |
Gross unrealized loss included in other liabilities | 77 |  |  | — |
Unrealized gains, net | $ | 12,450 |  |  | $ | 11,091 |
Summary of effect of cash flow hedge accounting on AOCI | The effect of cash flow hedge accounting on accumulated other comprehensive income for the three and six months ended June 30, 2023, and June 30, 2022, is as follows:
|  | Amount of Gain Recognized in OCI (Net of Tax) on Derivative (1) |  | Location of Gain (Loss) Reclassified from OCI into Income/(Expense) |  | Amount of Gain (Loss) Reclassified from OCI to Income/(Expense)
|  | (In thousands)
Three months ended June 30, 2023 |  |  |  |  |  |
Interest rate contracts |  | $ | 3,803 |  |  | Interest Expense |  | $ | 1,346 |
Three months ended June 30, 2022 |  |  |  |  |  |
Interest rate contracts |  | $ | 2,360 |  |  | Interest Expense |  | $ | (146) |
Six months ended June 30, 2023 |  |  |  |  |  |
Interest rate contracts |  | $ | 1,359 |  |  | Interest Expense |  | $ | 2,350 |
Six months ended June 30, 2022 |  |  |  |  |  |
Interest rate contracts |  | $ | 7,919 |  |  | Interest Expense |  | $ | (468) |
(1) Net of tax, adjusted for deferred tax valuation allowance.

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-8 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-5 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C + Details
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- Definition Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C + Details
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