INTEREST RATE SWAPS (Tables)

12 Months Ended

Dec. 31, 2019

INTEREST RATE SWAPS

Summary of swaps designated as cash flow hedges

								December 31, 2019				December 31, 2018
										Unrealized				Unrealized
		Notional	Pay		Receive			Assets /		Gain (Loss)		Assets /		Gain (Loss)
(dollars in thousands)		Amount	Rate		Rate	Term		(Liabilities)		in AOCI		(Liabilities)		in AOCI
Interest rate swap on money market deposits	$	10,000	2.17	%	1M LIBOR	12/2013 - 12/2020	$	(46)	$	(34)	$	58	$	45
Interest rate swap on FHLB advance		10,000	2.33	%	3M LIBOR	12/2013 - 12/2020		(58)		(43)		57		45
Total	$	20,000					$	(104)	$	(77)	$	115	$	90

Schedule of interest expense recorded on swap transactions in the consolidated statements of income

Years Ended December 31, (in thousands)	2019		2018		2017
Interest rate swap on money market deposits	$	(10)	$	18	$	109
Interest rate swap on FHLB advance		(10)		10		110
Total interest (benefit) expense on swap transactions	$	(20)	$	28	$	219

Summary of net gains recorded in AOCI and the consolidated statements of income relating to the swaps

Years Ended December 31, (in thousands)	2019		2018		2017
(Gains) losses recognized in OCI on derivative (effective portion)	$	(199)	$	178	$	83
Gains (losses) reclassified from OCI on derivative (effective portion)		20		(28)		(219)
Gains (losses) recognized in income on derivative (ineffective portion)		—		—		—

Summary of interest rate swaps related to clients

		2019				2018
		Notional				Notional
December 31, (in thousands)	Bank Position	Amount		Fair Value		Amount		Fair Value
Interest rate swaps with Bank clients - Assets	Pay variable/receive fixed	$	95,411	$	5,062	$	26,398	$	1,264
Interest rate swaps with Bank clients - Liabilities	Pay variable/receive fixed		6,640		(55)		54,718		(908)
Interest rate swaps with Bank clients - Total	Pay variable/receive fixed	$	102,051	$	5,007	$	81,116	$	356
Offsetting interest rate swaps with institutional swap dealer	Pay fixed/receive variable		102,051		(5,007)		81,116		(356)
Total		$	204,102	$	—	$	162,232	$	—