DERIVATIVES (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2023 (dollars in thousands):

	As of September 30, 2023
	Notional Amount		Fair Value
Included in other assets:
Derivatives designated as hedges:
Interest rate swaps - cash flow hedge	$	50,000	$	983
Derivatives not designated as hedging instruments:
Interest rate swaps related to customer loans	24,525		507
Total included in other assets			$	1,490
Included in other liabilities:
Derivatives designated as hedges:
Interest rate swaps - cash flow hedge	$	—	$	—
Derivatives not designated as hedging instruments:
Interest rate swaps related to customer loans	24,525		537
Total included in other liabilities			$	537

The effect of cash flow hedge accounting on accumulated other comprehensive income for the three and nine months ended September 30, 2023 is as follows (dollars in thousands):

Three Months Ended September 30, 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	$	226	$	—	$	—

Nine Months Ended September 30, 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	$	745	$	—	$	—