DERIVATIVE INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivatives Designated Hedge Relationships

A summary of the Company's fair value hedge relationships as of March 31, 2020 and December 31, 2019 are as follows (in thousands):

					March 31, 2020				December 31, 2019
	Balance Sheet Location	Weighted Average Remaining Maturity (In Years)	Weighted Average Pay Rate	Receive Rate	Notional Amount		Estimated Fair Value		Notional Amount		Estimated Fair Value
Liability derivative
Interest rate swap agreements - securities	Other liabilities	6.55	2.527%	3 month LIBOR	$	101,205	$	13,362	$	101,205	$	4,954

A summary of the Company's cash flow hedge relationships as of March 31, 2020 and December 31, 2019 are as follows (in thousands):

					March 31, 2020			December 31, 2019
	Balance Sheet Location	Weighted Average Remaining Maturity (In Years)	Weighted Average Pay Rate	Receive Rate	Notional Amount	Estimated Fair Value		Notional Amount		Estimated Fair Value
Liability derivatives
Interest rate swap agreements	Other liabilities	2.1	2.232%	1 month LIBOR	100,000	$	3,933	$	100,000	$	1,592

Schedule of Effects of Fair Value Hedge Relationships Reported in Interest Income on Securities on Consolidated Statements of Income

The effects of fair value hedge relationships reported in interest income on securities on the consolidated statements of income for the three months ended March 31, 2020 and 2019 were as follows (in thousands):

	Three Months Ended March 31,
Gain (loss) on fair value hedging relationship	2020		2019
Interest rate swap agreements - securities:
Hedged items	$	13,362	$	1,118
Derivative designated as hedging instruments	(13,362)		(1,118)

Schedule of Amounts Related to Cumulative Basis Adjustments for Fair Value Hedges

The following amounts were recorded on the balance sheet related to cumulative basis adjustments for fair value hedges at March 31, 2020:

	Carrying Amount of the Hedged Assets (in thousands)		Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets
Line item on the balance sheet	March 31, 2020	December 31, 2019	March 31, 2020	December 31, 2019
Securities available-for-sale	$101,205	$101,205	$13,362	$4,954

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The effects of the Company's cash flow hedge relationships on the statement of comprehensive income (loss) during the three months ended March 31, 2020 and 2019 were as follows:

	Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss)
	Three Months Ended March 31,
	2020		2019
Liability derivatives
Interest rate swap agreements	$	(1,729)	$	—