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Derivatives and Hedging Activities (Tables) | 12 Months Ended
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Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Notional Amounts of Outstanding Derivative Positions | The table below presents the fair value of Company’s derivative financial instruments as of the dates indicated.
|  | As of December 31, 2024 |  | As of December 31, 2023
|  |  |  | Fair Value |  |  |  | Fair Value
($ in thousands) |  | Notional Amount |  | Derivative Assets |  | Derivative Liabilities |  | Notional Amount |  | Derivative Assets |  | Derivative Liabilities
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Customer interest rate contracts |  | $ | 36,526 |  |  | $ | 301 |  |  | $ | — |  |  | $ | 13,000 |  |  | $ | 295 |  |  | $ | — |
Offsetting counterparty interest rate contracts |  | $ | 36,526 |  |  | — |  |  | 302 |  |  | $ | 13,000 |  |  | — |  |  | 349 |
Total derivatives not designated as hedging instruments |  |  |  | $ | 301 |  |  | $ | 302 |  |  |  |  | $ | 295 |  |  | $ | 349 |
The table below presents the gains and losses recognized in income related to derivative financial instruments that are not designated as hedging instruments. Gains and losses on interest rate swap not designated as hedges are included in "Other gains, net" on the consolidated statements of income for the date indicated.
|  | Gains (Losses)
($ in thousands) |  | Year Ended December 31, 2024 |  | Year Ended December 31, 2023
Customer interest rate swaps and counterparty offsets |  | $ | 53 |  |  | $ | (54) |
Total |  | $ | 53 |  |  | $ | (54) |
Schedule of Offsetting Assets | The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of December 31, 2024 and December 31, 2023. The Company’s interest rate swaps are subject to master netting arrangements between the Company and its counterparties, however, the Company has not made a policy election to offset its derivative positions. The interest rate swaps with borrowers are cross collateralized with the underlying loan and, therefore, there is no posted collateral. Interest rate swap agreements with third-party counterparties contain provisions that require the Company to post collateral if the derivative exposure exceeds a threshold amount and receive collateral for agreements in a net asset position.
|  | Gross Amounts of Recognized Assets |  | Gross Amounts Offset in the Consolidated Balance Sheet |  | Net Amounts of Assets presented in the Consolidated Balance Sheets |  | Gross Amounts Not Offset in the Consolidated Balance Sheets
($ in thousands) |  |  |  |  | Financial Instruments |  | Cash Collateral Received |  | Net Amount
Interest rate swaps |  |  |  |  |  |  |  |  |  |  |  |
As of December 31, 2024 |  | $ | 301 |  |  | $ | — |  |  | $ | 301 |  |  | $ | — |  |  | $ | — |  |  | $ | 301 |
As of December 31, 2023 |  | $ | 295 |  |  | $ | — |  |  | $ | 295 |  |  | $ | — |  |  | $ | — |  |  | $ | 295 |
|  | Gross Amounts of Recognized Liabilities |  | Gross Amounts Offset in the Consolidated Balance Sheets |  | Net Amounts of Liabilities presented in the Consolidated Balance Sheets |  | Gross Amounts Not Offset in the Consolidated Balance Sheets
($ in thousands) |  |  |  |  | Financial Instruments |  | Cash Collateral Posted |  | Net Amount
Interest rate swaps |  |  |  |  |  |  |  |  |  |  |  |
As of December 31, 2024 |  | $ | 302 |  |  | $ | — |  |  | $ | 302 |  |  | $ | — |  |  | $ | 150 |  |  | $ | 152 |
As of December 31, 2023 |  | $ | 349 |  |  | $ | — |  |  | $ | 349 |  |  | $ | — |  |  | $ | 330 |  |  | $ | 19 |
Schedule of Offsetting Liabilities | The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of December 31, 2024 and December 31, 2023. The Company’s interest rate swaps are subject to master netting arrangements between the Company and its counterparties, however, the Company has not made a policy election to offset its derivative positions. The interest rate swaps with borrowers are cross collateralized with the underlying loan and, therefore, there is no posted collateral. Interest rate swap agreements with third-party counterparties contain provisions that require the Company to post collateral if the derivative exposure exceeds a threshold amount and receive collateral for agreements in a net asset position.
|  | Gross Amounts of Recognized Assets |  | Gross Amounts Offset in the Consolidated Balance Sheet |  | Net Amounts of Assets presented in the Consolidated Balance Sheets |  | Gross Amounts Not Offset in the Consolidated Balance Sheets
($ in thousands) |  |  |  |  | Financial Instruments |  | Cash Collateral Received |  | Net Amount
Interest rate swaps |  |  |  |  |  |  |  |  |  |  |  |
As of December 31, 2024 |  | $ | 301 |  |  | $ | — |  |  | $ | 301 |  |  | $ | — |  |  | $ | — |  |  | $ | 301 |
As of December 31, 2023 |  | $ | 295 |  |  | $ | — |  |  | $ | 295 |  |  | $ | — |  |  | $ | — |  |  | $ | 295 |
|  | Gross Amounts of Recognized Liabilities |  | Gross Amounts Offset in the Consolidated Balance Sheets |  | Net Amounts of Liabilities presented in the Consolidated Balance Sheets |  | Gross Amounts Not Offset in the Consolidated Balance Sheets
($ in thousands) |  |  |  |  | Financial Instruments |  | Cash Collateral Posted |  | Net Amount
Interest rate swaps |  |  |  |  |  |  |  |  |  |  |  |
As of December 31, 2024 |  | $ | 302 |  |  | $ | — |  |  | $ | 302 |  |  | $ | — |  |  | $ | 150 |  |  | $ | 152 |
As of December 31, 2023 |  | $ | 349 |  |  | $ | — |  |  | $ | 349 |  |  | $ | — |  |  | $ | 330 |  |  | $ | 19 |

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