DERIVATIVES AND HEDGING ACTIVITIES (Tables)

3 Months Ended

Mar. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of interest-rate swaps designated as cash flow hedges

Summary information about the interest-rate swaps designated as cash flow hedges as of period-end is as follows:

	March 31, 2023			December 31, 2022
	(Dollars in thousands)
Notional amounts	$	209,000		$	109,000
Weighted average pay rates	2.53		%	1.46		%
Weighted average receive rates	4.81		%	4.61		%
Weighted average maturity (in years)	4.0			4.2
Gross unrealized gain included in other assets	$	9,612		$	11,091
Gross unrealized loss included in other liabilities	965			—
Unrealized gains (losses), net	$	8,647		$	11,091

Summary of effect of cash flow hedge accounting on AOCI

The effect of cash flow hedge accounting on accumulated other comprehensive income for the three months ended March 31, 2023, and March 31, 2022, is as follows:

	Amount of Gain (Loss) Recognized in OCI (Net of Tax) on Derivative (1)		Location of Gain (Loss) Reclassified from OCI into Income/(Expense)	Amount of Gain (Loss) Reclassified from OCI to Income/(Expense)
	(In thousands)
Three months ended March 31, 2023
Interest rate contracts	$	(2,444)	Interest Expense	$	1,004
Three months ended March 31, 2022
Interest rate contracts	$	5,559	Interest Expense	$	(322)
(1) Net of tax, adjusted for deferred tax valuation allowance at March 31, 2023 and March 31, 2022.