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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - (Tables)
6 Months Ended
Jun. 30, 2025
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES  
Schedule of fair value of the Company's derivative financial instruments

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​

​

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​

​

​

​

​

​

​

(Dollars in thousands)

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June 30, 2025

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Derivative Assets

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​

Derivative Liabilities

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​

Location

​

​

Fair Value

​

​

Location

​

​

Fair Value

Derivatives designated as hedging instruments:

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​

​

​

​

​

​

​

​

​

​

Interest rate swaps

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Other Assets

​

$

—

​

​

Other Liabilities

​

$

3,617

Total

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​

​

$

—

​

​

​

​

$

3,617

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​

​

​

​

​

​

​

​

​

​

​

​

​

(Dollars in thousands)

​

December 31, 2024

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Derivative Assets

​

​

Derivative Liabilities

​

​

Location

​

​

Fair Value

​

​

Location

​

​

Fair Value

Derivatives designated as hedging instruments:

​

​

​

​

​

​

​

​

​

​

​

Interest rate swaps

​

Other Assets

​

$

—

​

​

Other Liabilities

​

$

1,463

Total

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​

​

$

—

​

​

​

​

$

1,463

Schedule of derivative liabilities subject to an enforceable master netting arrangement

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​

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Gross

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Net Amounts

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​

Gross Amounts Not Offset in the Consolidated Balance Sheet

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​

Gross

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Amounts

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of Liabilities

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(Dollars in thousands)

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Amounts of

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Offset in the

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Presented in the

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​

​

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Cash

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​

​

​

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Recognized

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Consolidated

​

Consolidated

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Financial

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Collateral

​

Net

​

​

Liabilities

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Balance Sheet

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Balance Sheet

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Instruments

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Pledged

​

Amount

June 30, 2025

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

 

​

  

Derivatives

​

$

3,617

​

$

—

​

$

3,617

​

$

—

​

$

(3,617)

​

$

—

​

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

December 31, 2024

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​

 

  

​

 

  

​

 

  

​

 

  

​

 

  

Derivatives

​

$

1,463

​

$

—

​

$

1,463

​

$

—

​

$

(1,463)

​

$

—

Schedule of the remaining contractual maturity of the master netting arrangements

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​

​

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​

​

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Remaining Contractual Maturity of the Agreements

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​

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Greater

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​

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(Dollars in thousands)

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Up to

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1 to 3

​

3 to 5

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than

​

​

​

​

​

1 Year

​

Years

​

Years

​

5 Years

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Total

June 30, 2025:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

Derivative Assets

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$

—

​

$

206

​

$

—

​

$

—

​

$

206

Derivative Liabilities

​

​

—

​

​

(2,457)

​

​

(1,366)

​

​

—

​

​

(3,823)

Total net derivatives

​

$

—

​

$

(2,251)

​

$

(1,366)

​

$

—

​

$

(3,617)

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

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​

​

​

​

​

(Dollars in thousands)

​

June 30, 

​

December 31, 

​

 

2025

​

2024

Carrying amount of hedged assets:

​

Closed Portfolio Amount

​

Closed Portfolio Amount

Fixed Rate Loans

$

128,258

$

134,878

Available-for-sale - Municipals

​

50,494

​

50,653

Available-for-sale - MBS

​

31,184

​

32,821

Total

$

209,936

$

218,352

​

​

​

​

​

Interest rate swaps notional amount

$

125,000

$

125,000

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

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​

​

​

​

​

(Dollars in thousands)

​

June 30, 

​

December 31, 

​

 

2025

​

2024

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

​

​

​

​

Fixed Rate Loans

$

206

$

823

Available-for-sale - Municipals

​

(1,069)

​

(375)

Available-for-sale - MBS

​

(348)

​

(122)

Total

$

(1,211)

$

326

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

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​

​

​

​

​

(Dollars in thousands)

​

June 30, 

​

 

2025

​

2024

Amount of loss recognized in other comprehensive loss

$

(1,120)

$

(233)

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

​

347

​

272

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

​

​

​

​

​

​

(Dollars in thousands)

​

June 30, 

​

 

2025

​

2024

Amount of loss recognized in other comprehensive loss

$

(1,781)

$

(366)

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

​

1

​

502

​

​

​

​

​

Interest rate swaps notional amount

$

100,000

$

100,000