DERIVATIVES (Tables)

3 Months Ended

Mar. 31, 2024

Net Gains (Losses) Relating to Derivative Instruments

The net gains (losses) relating to free standing derivative instruments used for risk management are summarized below for the periods indicated (dollars in thousands):

		Three Months Ended
		March 31,
	Location	2024			2023
Gain (loss) on mortgage banking derivatives	Net gain (loss) on sales of loans		$	308		$	(281	)

Fair Value of Derivatives in Consolidated Balance Sheets

The following table reflects the amount and fair value of mortgage banking derivatives in the Consolidated Balance Sheets at the dates indicated (dollars in thousands):

	March 31, 2024						December 31, 2023
	Notional Amount			Fair Value			Notional Amount			Fair Value

Included in other assets:
Forward contracts related to mortgage loans held for sale		$	—		$	—		$	—		$	—
Interest rate lock commitments			30,678			442			16,887			444

Included in other liabilities:
Forward contracts related to mortgage loans held for sale		$	26,197		$	112		$	19,021		$	422

Fair Value Hedging [Member]

Derivative [Line Items]

Fair Value of Derivatives in Consolidated Balance Sheets

The following table reflects the fair value hedges included in the Consolidated Balance Sheets at the dates indicated (dollars in thousands):

	March 31, 2024				December 31, 2023
	Notional Amount		Fair Value		Notional Amount		Fair Value

Included in other liabilities:
Interest rate swaps related to fixed rate loans	$	—	$	—	$	987	$	10
Interest rate swaps related to state and municipal securities		—		—		—		—

Included in other assets:
Interest rate swaps related to fixed rate loans	$	8,602	$	385	$	7,796	$	158
Interest rate swaps related to state and municipal securities		123,760		17,940		123,760		16,628

Interest Rate Contracts [Member] | Fair Value Hedging [Member]

Derivative [Line Items]

Net Gains (Losses) Relating to Derivative Instruments

The following table reflects the changes in fair value hedges included in the Consolidated Statements of Comprehensive Income (Loss) for the periods indicated (dollars in thousands):

		Three Months Ended
		March 31,
Interest Rate Contracts	Location	2024				2023
Change in fair value of interest rate swaps hedging investment securities	Other noninterest expense		$	1,312			$	(2,654	)
Change in fair value of hedged investment securities	Other noninterest expense			(1,385	)			2,638
Change in fair value of interest rate swaps hedging fixed rate loans	Interest income - Loans		$	237			$	—
Change in fair value of hedged fixed rate loans	Interest income - Loans			(153	)			—