DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2023

Effect of Fair Value and Cash Flow Hedge Accounting on AOCI

The following table presents the effect of the Company’s cash flow hedge accounting on Accumulated Other Comprehensive Income for the years ended December 31, 2023 and 2022 (in thousands):

The Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income
	Amount of (Loss) Gain Recognized in OCI on Derivatives							Location of Gain Reclassified from Accumulated OCI into Income	Amount of (loss) gain reclassified from Accumulated OCI into income
	Year Ended December 31,								Year Ended December 31,
Derivatives in Hedging relationships	2023				2022				2023			2022
Interest rate Products		$	(1,431	)		$	4,963	Interest Expense		$	2,203		$	145

Derivatives Designated as Hedging Instruments Under ASC 815 [Member]

Derivative Fair Value [Abstract]

Estimated Fair Value Positions of Derivative Contracts

Derivatives designated as hedging instruments under ASC 815 (in thousands):

						Fair Value December 31,
Third party interest rate swaps	Balance Sheet Location	Notional Amount		Interest rate Paid	Interest rate Received	2023		2022
Maturing in 2025	Fair value of derivative instruments - asset	$	15,000	Fixed - 0.57%	Compounded Overnight SOFR + 26.161	$	887	$	1,269
Maturing in 2027	Fair value of derivative instruments - asset		10,000	Fixed - 0.65%	Compounded Overnight SOFR + 26.161		1,009		1,324
Maturing in 2027	Fair value of derivative instruments - asset		7,500	Fixed - 3.57%	Compounded Overnight SOFR + 26.161+280		764		995
Maturing in 2027	Fair value of derivative instruments - asset		6,000	Fixed - 0.61%	Compounded Overnight SOFR + 26.161		630		822
Maturing in 2029	Fair value of derivative instruments - asset		6,000	Fixed - 0.72%	Compounded Overnight SOFR + 26.161		894		1,065
Maturing in 2032	Fair value of derivative instruments - asset		6,000	Fixed - 0.82%	Compounded Overnight SOFR + 26.161		1,257		1,398
		$	50,500			$	5,441	$	6,873

Derivatives Not Designated as Hedging Instruments Under ASC 815 [Member]

Derivative Fair Value [Abstract]

Estimated Fair Value Positions of Derivative Contracts

Derivatives not designated as hedging instruments under ASC 815 (in thousands):

		December 31, 2023					December 31, 2022
Interest Rate Products	Balance Sheet Location	Notional Amount		Fair Value			Notional Amount		Fair Value
Zero Premium Collar	(Fair value of derivative instruments - liability)	$	69,462	$	(7,922	)	$	71,776	$	(9,726	)
IRLCs	Fair value of derivative instruments - asset		21,225		324			-		-
Dealer Offset to Zero Premium Collar	Fair value of derivative instruments - asset		69,462		7,922			71,776		9,726