DERIVATIVES (Tables)

3 Months Ended

Mar. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The Company presents derivative position gross on the balance sheet. The following table reflects the fair value of derivatives recorded on the Condensed Consolidated Balance Sheets as of March 31, 2023 (dollars in thousands):

	As of March 31, 2023
	Notional Amount		Fair Value
Included in other assets:
Derivatives designated as hedges:
Interest rate swaps - cash flow hedge	$	—	$	—
Derivatives not designated as hedging instruments:
Interest rate swaps related to customer loans	3,307		204
Total included in other assets			$	204
Included in other liabilities:
Derivatives designated as hedges:
Interest rate swaps - cash flow hedge	$	50,000	$	268
Derivatives not designated as hedging instruments:
Interest rate swaps related to customer loans	3,307		240
Total included in other liabilities			$	508

The effect of cash flow hedge accounting on accumulated other comprehensive income for the three months ended March 31, 2023 is as follows (dollars in thousands):

March 31, 2023	Unrealized Gain (Loss) Recorded in OCI on Derivative		Location of Gain (Loss) Reclassified from OCI into Income		Amount of Gain (Loss) Reclassified from OCI into Income
Interest rate contracts	$	(268)	$	—	$	—

The Company recorded an immaterial amount of interest income related to the swap to Other non-interest income on the condensed consolidated statement of income for the three months ended March 31, 2023.

The effect of derivatives not designated as hedging instruments recorded in Other non-interest income on the Condensed Consolidated Statements of Income for the three months ended March 31, 2023 is as follows (dollars in thousands):

March 31, 2023	Unrealized Gain (Loss) on Derivative
Interest rate swaps related to loan customers	$	(36)