DERIVATIVES AND HEDGING ACTIVITIES (Tables)

6 Months Ended

Jun. 30, 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:

	June 30, 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	5.25		%	4.61		%
Weighted average maturity (in years)	3.8			4.2
Gross unrealized gain included in other assets	$	12,527		$	11,091
Gross unrealized loss included in other liabilities	77			—
Unrealized gains, net	$	12,450		$	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 and six months ended June 30, 2023, and June 30, 2022, is as follows:

	Amount of Gain 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 June 30, 2023
Interest rate contracts	$	3,803	Interest Expense	$	1,346
Three months ended June 30, 2022
Interest rate contracts	$	2,360	Interest Expense	$	(146)
Six months ended June 30, 2023
Interest rate contracts	$	1,359	Interest Expense	$	2,350
Six months ended June 30, 2022
Interest rate contracts	$	7,919	Interest Expense	$	(468)

(1) Net of tax, adjusted for deferred tax valuation allowance.