XML 53 R40.htm IDEA: XBRL DOCUMENT v3.24.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - (Tables)
12 Months Ended
Dec. 31, 2023
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES  
Schedule of fair value of the Company's derivative financial instruments

​

​

​

​

​

​

​

​

​

​

​

​

​

(Dollars in thousands)

​

December 31, 2023

​

 

Derivative Assets

​

​

Derivative Liabilities

​

​

Location

​

​

Fair Value

​

​

Location

​

​

Fair Value

Derivatives designated as hedging instruments:

​

​

​

​

​

​

​

​

​

​

​

Interest rate swaps

​

Other Assets

​

$

—

​

​

Other Liabilities

​

$

4,501

Total

​

​

​

$

—

​

​

​

​

$

4,501

​

​

​

​

​

​

​

​

​

​

​

​

​

(Dollars in thousands)

​

December 31, 2022

​

 

Derivative Assets

​

​

Derivative Liabilities

​

​

Location

​

​

Fair Value

​

​

Location

​

​

Fair Value

Derivatives designated as hedging instruments:

​

​

​

​

​

​

​

​

​

​

​

Interest rate swaps

​

Other Assets

​

$

—

​

​

Other Liabilities

​

$

—

Total

​

​

​

$

—

​

​

​

​

$

—

Schedule of derivative liabilities subject to an enforceable master netting arrangement

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

    

​

​

    

Gross

    

Net Amounts

    

​

​

    

​

​

    

​

​

​

​

​

​

​

Amounts

​

of Liabilities

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Offset

​

Presented

​

​

​

​

​

​

​

​

​

​

​

Gross

​

in the

​

in the

​

​

​

​

​

​

​

​

​

(Dollars in thousands)

​

Amounts of

​

Consolidated

​

Consolidated

​

​

​

​

Cash

​

​

​

​

​

Recognized

​

Balance

​

Balance

​

Financial

​

Collateral

​

Net

​

​

Liabilities

​

Sheet

​

Sheet

​

Instruments

​

Pledge

​

Amount

December 31, 2023

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

Derivatives

​

$

4,501

​

$

—

​

$

4,501

​

$

—

​

$

(4,501)

​

$

—

​

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

December 31, 2022

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

Derivatives

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

Schedule of the remaining contractual maturity of the master netting arrangements

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Remaining Contractual Maturity of the Agreements

​

​

​

​

​

​

​

​

​

Greater

​

​

​

(Dollars in thousands)

​

Up to

​

1 to 3

​

3 to 5

​

than

​

​

​

​

​

1 Year

​

Years

​

Years

​

5 Years

​

Total

December 31, 2023:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Derivatives

​

$

—

​

$

—

​

$

4,501

​

$

—

​

$

4,501

Total

​

$

—

​

$

—

​

$

4,501

​

$

—

​

$

4,501

Schedule of cumulative amount of fair value hedging adjustment included carrying amount of hedged assets

​

​

​

​

​

​

(Dollars in thousands)

​

December 31, 

​

December 31, 

​

 

2023

​

2022

Carrying amount of hedged assets:

​

Closed Portfolio Amount

​

Closed Portfolio Amount

Available-for-sale - Municipals

$

50,964

$

—

Available-for-sale - MBS

​

35,806

​

—

Total

$

86,770

$

—

​

​

​

​

​

Interest rate swaps notional amount

$

50,000

$

—

Schedule of cumulative amount of fair value hedging adjustment included carrying amount of assets

​

​

​

​

​

​

(Dollars in thousands)

​

December 31, 

​

December 31, 

​

 

2023

​

2022

Cumulative amount of fair value hedging adjustment included in the carrying amount of assets:

​

​

​

​

Available-for-sale - Municipals

$

(1,230)

$

—

Available-for-sale - MBS

​

(407)

​

—

Total

$

(1,637)

$

—

Schedule of pre-tax effects of the Company's derivative instruments designated as fair value hedges

​

​

​

​

​

​

(Dollars in thousands)

​

December 31, 

​

 

2023

​

2022

Amount of loss recognized in other comprehensive loss

$

(1,637)

$

—

Amount of gain, net of fair value re-measurements, included in interest income

​

168

​

—

Schedule of pre-tax effects of the Company's derivative instruments designated as cash flow hedges

​

​

​

​

​

​

(Dollars in thousands)

​

December 31, 

​

 

2023

​

2022

Amount of loss recognized in other comprehensive loss

$

(2,885)

$

—

Amount of gain reclassified from accumulated other comprehensive loss to interest expense

​

274

​

—

​

​

​

​

​

Interest rate swaps notional amount

$

100,000

$

—