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 |
| | | | | | | | | | | | (Dollars in thousands) | | June 30, 2025 | | | Derivative Assets | | | Derivative Liabilities | | | Location | | | Fair Value | | | Location | | | Fair Value | Derivatives designated as hedging instruments: | | | | | | | | | | | | Interest rate swaps | | Other Assets | | $ | — | | | Other Liabilities | | $ | 3,617 | Total | | | | $ | — | | | | | $ | 3,617 |
| | | | | | | | | | | | (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 | | $ | — | | | Other Liabilities | | $ | 1,463 | Total | | | | $ | — | | | | | $ | 1,463 |
|
| 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 | June 30, 2025 | | | | | | | | | | | | | | | | | | | Derivatives | | $ | 3,617 | | $ | — | | $ | 3,617 | | $ | — | | $ | (3,617) | | $ | — | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | | | | | | | | | | | | | | | | | | Derivatives | | $ | 1,463 | | $ | — | | $ | 1,463 | | $ | — | | $ | (1,463) | | $ | — |
|
| Schedule of the remaining contractual maturity of the master netting arrangements |
| | | | | | | | | | | | | | | | | | 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 | June 30, 2025: | | | | | | | | | | | | | | | | Derivative Assets | | $ | — | | $ | 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 |
| | | | | (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 |
| | | | | (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 |
| | | | | (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 |
|