DERIVATIVES (Tables)

12 Months Ended

Dec. 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 the dates presented is as follows:

	December 31, 2023			December 31, 2022
	(Dollars in thousands)
Notional amounts	$	259,000		$	109,000
Weighted average pay rates	2.91		%	1.46		%
Weighted average receive rates	5.49		%	4.61		%
Weighted average maturity	3.2 years			4.2 years
Gross unrealized gain included in other assets	$	9,047		$	11,091
Gross unrealized loss included in other liabilities	1,465			—
Unrealized gains (losses), net	$	7,582		$	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 years ended December 31, 2023 and 2022 are as follows:

	Amount of (Loss) Gain Recognized in OCI on Derivative (1)		Location of Gain (Loss) Reclassified from OCI into Income/(Expense)	Amount of Gain Reclassified from OCI to Income/(Expense)
	(In thousands)
Year Ended December 31, 2023
Interest rate contracts	$	(3,509)	Interest Expense	$	5,472
Year Ended December 31, 2022
Interest rate contracts	$	11,337	Interest Expense	$	356

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