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Hedge Accounting
12 Months Ended
Dec. 31, 2021
Hedge Accounting [Abstract]  
Hedge Accounting NOTE 18 – HEDGE ACCOUNTING As of December 31, 2021 and 2020, the Company held interest rate derivatives in the total notional amount of $63.0 million and $8.0, respectively. The derivatives are recorded on the balance sheet at fair value and are included in the following line items: Asset Derivatives December 31, 2021 2020(Dollars in thousands) Balance sheet location Fair value Balance sheet location Fair valueInterest rate contracts Derivative financial instruments - current portion $ 96  Derivative financial instruments - current portion $- Derivative financial instruments - non-current portion 112  Derivative financial instruments - non-current portion -Total derivatives designated as hedging instruments $ 208 $ —Total derivatives $ 208 $ — Liability Derivatives December 31, 2021 2020(Dollars in thousands) Balance sheet location Fair value Balance sheet location Fair valueInterest rate contracts Derivative financial instruments - current portion $ 181  Derivative financial instruments - current portion $ 218  Derivative financial instruments - non-current portion — Derivative financial instruments - non-current portion 212 Total derivatives designated as hedging instruments $ 181  $ 430 Total derivatives $ 181  $ 430  The changes in fair value are recorded in Other Comprehensive Income and released into interest expense in the same period(s) in which the hedged transactions affect earnings. In 2021 and 2020, the derivative instruments affected Comprehensive Income as follows: (Dollars in thousands) Location of Loss Recognized in Income on Derivatives Amount of Loss Recognized in Income on Derivatives 2021 2020Interest rate contracts Interest expense, net $ 253 $ 202Total $ 253 $ 202 Loss Recognized in OCI on Derivatives (Effective Portion) Loss Reclassified from OCI into Income (Effective Portion) Loss Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)(Dollars in thousands) Amount Line Item Amount Line Item Amount 2021 2020 2021 2020 2021 2020Interest rate contracts $ (153) $ 267 Interest expense, net $ (253) $ 202 Interest expense, net $ — $ —Total $ (153) $ 267 $ (253) $ 202 $ — $ — In 2022, the Company expects to release $159,000 to earnings.