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Derivative Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | Select terms of the hedges are as follows:
$ in thousands |  |
Notional | Fixed Rate | Maturity Date
$15,465 | 2.60% | March 15, 2024
$14,433 | 2.60% | March 30, 2024
$18,558 | 2.64% | March 15, 2026
$13,506 | 2.64% | March 17, 2026
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Balance Sheet.
| Notional Amount |  | Derivative Assets |  | Derivative Liabilities
($ in thousands) | December 31, 2023 |  | December 31, 2022 |  | December 31, 2023 |  | December 31, 2022 |  | December 31, 2023 |  | December 31, 2022
Derivatives designated as hedging instruments
Interest rate swaps | $ | 211,962 |  |  | $ | 161,962 |  |  | $ | 1,389 |  |  | $ | 2,348 |  |  | $ | 233 |  |  | $ | 921 |
Interest rate collar | 100,000 |  |  | 100,000 |  |  | 514 |  |  | — |  |  | — |  |  | 48 |
Total |  |  |  |  | $ | 1,903 |  |  | $ | 2,348 |  |  | $ | 233 |  |  | $ | 969 |
Derivatives not designated as hedging instruments
Interest rate swaps | $ | 779,152 |  |  | $ | 687,902 |  |  | $ | 15,886 |  |  | $ | 20,610 |  |  | $ | 15,951 |  |  | $ | 20,612 |
The tables below present a gross presentation, the effects of offsetting, and a net presentation of the Company’s financial instruments subject to offsetting. The gross amounts of assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that financial assets and liabilities are presented on the Balance Sheet.
As of December 31, 2023
|  |  | Gross Amounts Not Offset in the Statement of Financial Position |  |
($ in thousands) | Gross Amounts Recognized |  | Gross Amounts Offset in the Statement of Financial Position |  | Net Amounts of Assets presented in the Statement of Financial Position |  | Financial Instruments |  | Fair Value Collateral Posted |  | Net Amount
Assets: |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 17,275 |  |  | $ | — |  |  | $ | 17,275 |  |  | $ | 1,105 |  |  | $ | 16,170 |  |  | $ | — |
Interest rate collar | 514 |  |  | — |  |  | 514 |  |  | — |  |  | — |  |  | 514 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 16,184 |  |  | $ | — |  |  | $ | 16,184 |  |  | $ | 1,105 |  |  | $ | — |  |  | $ | 15,079 |
Securities sold under agreements to repurchase | 250,197 |  |  | — |  |  | 250,197 |  |  | — |  |  | 250,197 |  |  | — |
As of December 31, 2022
|  |  | Gross Amounts Not Offset in the Statement of Financial Position |  |
($ in thousands) | Gross Amounts Recognized |  | Gross Amounts Offset in the Statement of Financial Position |  | Net Amounts of Assets presented in the Statement of Financial Position |  | Financial Instruments |  | Fair Value Collateral Posted |  | Net Amount
Assets: |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 22,958 |  |  | $ | — |  |  | $ | 22,958 |  |  | $ | — |  |  | $ | 9,010 |  |  | $ | 13,948 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 21,533 |  |  | $ | — |  |  | $ | 21,533 |  |  | $ | — |  |  | $ | — |  |  | $ | 21,533 |
Interest rate collar | 48 |  |  | — |  |  | 48 |  |  | — |  |  | — |  |  | 48 |
Securities sold under agreements to repurchase | 270,773 |  |  | — |  |  | 270,773 |  |  | — |  |  | 270,773 |  |  | — |

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