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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - (Tables)
12 Months Ended
Dec. 31, 2024
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES  
Schedule of fair value of the Company's derivative financial instruments

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

(Dollars in thousands)

​

December 31, 2024

​

 

Derivative Assets

​

​

Derivative Liabilities

​

​

Location

​

​

Fair Value

​

​

Location

​

​

Fair Value

Derivatives designated as hedging instruments:

​

​

​

​

​

​

​

​

​

​

​

Interest rate swaps

​

Other Assets

​

$

817

​

​

Other Liabilities

​

$

2,280

Total

​

​

​

$

817

​

​

​

​

$

2,280

​

​

​

​

​

​

​

​

​

​

​

​

​

(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

Schedule of derivative assets subject to an enforceable master netting arrangement

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross

​

Net Amounts

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​

Gross Amounts Not Offset in the Consolidated Balance Sheet

​

​

Gross

​

Amounts

​

of Assets

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​

​

​

​

​

​

​

​

(Dollars in thousands)

​

Amounts of

​

Offset in the

​

Presented in the

​

​

​

​

Cash

​

​

​

​

​

Recognized

​

Consolidated

​

Consolidated

​

Financial

​

Collateral

​

Net

​

​

Assets

​

Balance Sheet

​

Balance Sheet

​

Instruments

​

Received

​

Amount

December 31, 2024

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

Derivatives

​

$

817

​

$

—

​

$

817

​

$

(817)

​

$

—

​

$

—

​

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

December 31, 2023

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

Derivatives

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

​

$

—

Schedule of derivative liabilities subject to an enforceable master netting arrangement

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Gross

​

Net Amounts

​

​

Gross Amounts Not Offset in the Consolidated Balance Sheet

​

​

Gross

​

Amounts

​

of Liabilities

​

​

​

​

​

​

​

​

​

(Dollars in thousands)

​

Amounts of

​

Offset in the

​

Presented in the

​

​

​

​

Cash

​

​

​

​

​

Recognized

​

Consolidated

​

Consolidated

​

Financial

​

Collateral

​

Net

​

​

Liabilities

​

Balance Sheet

​

Balance Sheet

​

Instruments

​

Pledged

​

Amount

December 31, 2024

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

Derivatives

​

$

2,280

​

$

—

​

$

2,280

​

$

(817)

​

$

(1,463)

​

$

—

​

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

December 31, 2023

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

Derivatives

​

$

4,501

​

$

—

​

$

4,501

​

$

—

​

$

(4,501)

​

$

—

Schedule of the remaining contractual maturity of the master netting arrangements

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

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, 2024:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Derivative Assets

​

$

—

​

$

817

​

$

—

​

$

—

​

$

817

Derivative Liabilities

​

​

—

​

​

(1,324)

​

​

(956)

​

​

—

​

​

(2,280)

Total

​

$

—

​

$

(507)

​

$

(956)

​

$

—

​

$

(1,463)

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

​

​

​

​

​

​

(Dollars in thousands)

​

December 31, 

​

December 31, 

​

 

2024

​

2023

Carrying amount of hedged assets:

​

Closed Portfolio Amount

​

Closed Portfolio Amount

Fixed Rate Loans

$

134,878

​

—

Available-for-sale - Municipals

​

50,653

$

50,964

Available-for-sale - MBS

​

32,821

​

35,806

Total

$

218,352

$

86,770

​

​

​

​

​

Interest rate swaps notional amount

$

125,000

$

50,000

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

​

​

​

​

​

​

(Dollars in thousands)

​

December 31, 

​

December 31, 

​

 

2024

​

2023

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

​

​

​

​

Fixed Rate Loans

$

823

$

—

Available-for-sale - Municipals

​

(375)

​

(1,230)

Available-for-sale - MBS

​

(122)

​

(407)

Total

$

326

$

(1,637)

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

​

​

​

​

​

​

(Dollars in thousands)

​

December 31, 

​

 

2024

​

2023

Amount of loss recognized in other comprehensive loss

$

(497)

$

(1,637)

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

​

773

​

168

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

​

​

​

​

​

​

(Dollars in thousands)

​

December 31, 

​

 

2024

​

2023

Amount of loss recognized in other comprehensive loss

$

(993)

$

(2,885)

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

​

850

​

274

​

​

​

​

​

Interest rate swaps notional amount

$

100,000

$

100,000