INTEREST RATE SWAPS (Tables)

6 Months Ended

Jun. 30, 2025

Summary of net gains (losses) in OCI and the consolidated statements of income relating to the swaps


		Three Months Ended			Six Months Ended
		June 30,			June 30,
(in thousands)		2025			2025

Losses recognized in OCI on derivative (effective portion)		$	(733)		$	(2,173)

Losses reclassified from OCI on derivative (effective portion)			(45)			(91)

Gains (losses) recognized in income on derivative (ineffective portion)			—			—

FHLB Advances

Summary of interest rate swaps


				June 30, 2025						December 31, 2024
				Notional						Notional
(in thousands)		Bank Position		Amount			Fair Value			Amount			Fair Value

Interest rate swaps on FHLB advances - Other liabilities and accrued interest payable		Pay fixed/receive variable		$	100,000		$	(2,911)		$	100,000		$	(647)
Total				$	100,000		$	(2,911)		$	100,000		$	(647)


														June 30, 2025						December 31, 2024
																	Unrealized						Unrealized
		Notional			Pay		Receive							Assets /			Gain (Loss)			Assets /			Gain (Loss)
(dollars in thousands)		Amount			Rate		Rate			Term		Bank Position		(Liabilities)			in AOCI			(Liabilities)			in AOCI

Interest rate swaps on FHLB advances - Other liabilities and accrued interest payable		$	100,000		4.14	%		1M SOFR		5/2024 - 6/2029		Pay fixed/receive variable		$	100,000		$	(2,911)		$	100,000		$	(647)
Total		$	100,000											$	100,000		$	(2,911)		$	100,000		$	(647)


		Three Months Ended						Six Months Ended
		June 30,						June 30,
(in thousands)		2025			2024			2025			2024

Interest rate swaps on FHLB advances		$	(45)		$	(91)		$	(91)		$	(91)
Total interest (benefit) expense on swap transactions		$	(45)		$	(91)		$	(91)		$	(91)

Interest rate swaps

Summary of interest rate swaps


				June 30, 2025						December 31, 2024
				Notional						Notional
(in thousands)		Bank Position		Amount			Fair Value			Amount			Fair Value

Interest rate swaps with Bank clients - Other assets and accrued interest receivable		Pay variable/receive fixed		$	153,816		$	3,872		$	103,707		$	1,070
Interest rate swaps with Bank clients - Other liabilities and accrued interest payable		Pay variable/receive fixed			75,127			(2,978)			128,621			(5,518)
Interest rate swaps with Bank clients - Total		Pay variable/receive fixed		$	228,943		$	894		$	232,328		$	(4,448)

Offsetting interest rate swaps with institutional swap dealer - Other assets and accrued interest receivable		Pay fixed/receive variable			75,127			2,978			128,621			5,518
Offsetting interest rate swaps with institutional swap dealer - Other liabilities and accrued interest payable		Pay fixed/receive variable			153,816			(3,872)			103,707			(1,070)
Offsetting interest rate swaps with institutional swap dealer - Total		Pay fixed/receive variable		$	228,943		$	(894)		$	232,328		$	4,448

Total				$	457,886		$	—		$	464,656		$	—