DERIVATIVES (Tables)

9 Months Ended

Sep. 30, 2024

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 the periods noted:

	As of September 30, 2024				As of December 31, 2023
(dollars in thousands)	Notional Amount		Fair Value		Notional Amount		Fair Value
Included in other assets:
Derivatives designated as hedges:
Interest rate swaps – cash flow hedge	$	—	$	—	$	50,000	$	77
Derivatives not designated as hedging instruments:
Interest rate swaps related to customer loans	50,586		1,441		30,325		686
Total included in other assets			$	1,441			$	763
Included in other liabilities:
Derivatives designated as hedges:
Interest rate swaps – cash flow hedge	$	50,000	$	226	$	—	$	—
Derivatives not designated as hedging instruments:
Interest rate swaps related to customer loans	50,586		1,486		30,325		740
Total included in other liabilities			$	1,712			$	740

The effect of cash flow hedge accounting on accumulated other comprehensive income for the periods noted are as follows:

	Three Months Ended September 30,
	2024						2023
(dollars in thousands)	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		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	$	(635)	$	—	$	—	$	226	$	—	$	—

	Nine Months Ended September 30,
	2024						2023
(dollars in thousands)	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		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	$	(230)	$	—	$	—	$	745	$	—	$	—