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Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Balances and Fair Value of Derivative Positions

The following table provides the outstanding notional balances and fair values of outstanding derivative positions at December 31, 2024 and 2023.

 

 

 

December 31, 2024

 

 

December 31, 2023

 

 

 

Outstanding
Notional
Balance

 

 

Asset
Derivative
Fair Value

 

 

Liability
Derivative
Fair Value

 

 

Outstanding
Notional
Balance

 

 

Asset
Derivative
Fair Value

 

 

Liability
Derivative
Fair Value

 

 

 

(Dollars in thousands)

 

Interest rate lock commitments

 

$

7,042

 

 

 

144

 

 

 

1

 

 

$

7,113

 

 

$

218

 

 

$

 

Forward mortgage-backed securities trades

 

 

18,500

 

 

 

75

 

 

 

37

 

 

 

14,250

 

 

 

1

 

 

 

161

 

Commercial loan interest rate swaps and caps:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loan customer counterparty

 

 

30,732

 

 

 

 

 

 

693

 

 

 

67,408

 

 

 

 

 

 

3,899

 

Financial institution counterparty

 

 

30,732

 

 

 

686

 

 

 

 

 

 

67,408

 

 

 

3,876

 

 

 

 

Schedule of Weighted Average Received and Paid Interest Rates for Interest Rate Swaps Outstanding

The commercial loan customer counterparty weighted average received and paid interest rates for interest rate swaps outstanding at December 31, 2024 and 2023 are presented in the following table.

 

 

 

Weighted-Average Interest Rate

 

 

 

December 31, 2024

 

 

December 31, 2023

 

 

 

Received

 

 

Paid

 

 

Received

 

 

Paid

 

Loan customer counterparty

 

 

5.03

%

 

 

6.77

%

 

 

3.07

%

 

 

6.81

%

Schedule of Income (Loss) from Derivatives Not Designated as Hedging Instruments Income for the years ended December 31, 2024, 2023 and 2022 was as follows:

 

 

 

Year Ended December 31,

 

Derivatives not designated as hedging instruments

 

2024

 

 

2023

 

 

2022

 

Interest rate lock commitments

 

$

(75

)

 

$

130

 

 

$

88

 

Forward mortgage-backed securities trades

 

 

589

 

 

 

368

 

 

 

740