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Commitments and Off-balance Sheet Items | 12 Months Ended
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Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Off-balance Sheet Items | Commitments and Off-balance Sheet Items In the normal course of business, there are various commitments and contingent liabilities, such as commitments to extend credit and commitments to sell loans, which are not reflected in the accompanying consolidated financial statements. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instruments for commitments to make loans and standby letters of credit is represented by the contractual amount of those instruments. The Company uses the same credit policy to make commitments as it uses for on-balance sheet items. The Company’s exposure to credit risk for commitments to sell loans is dependent upon the ability of the counter-party to purchase the loans. This is generally assured by the use of government sponsored entity counterparts. These commitments are subject to market risk resulting from fluctuations in interest rates. Commitments and contingent liabilities are summarized as follows, at December 31:
|  | 2023 |  | 2022
|  | Fixed Rate |  | Variable Rate |  | Fixed Rate |  | Variable Rate
Commitments to Fund Loans: |  |  |  |  |  |  |  |
Consumer Lines |  | $ | 13,978 |  |  | $ | 689,295 |  |  | $ | 15,238 |  |  | $ | 576,784 |
Commercial Operating Lines |  | 120,352 |  |  | 546,016 |  |  | 161,058 |  |  | 611,357 |
Residential Mortgages |  | 11,855 |  |  | 3,521 |  |  | 15,129 |  |  | 5,327 |
Total Commitments to Fund Loans |  | $ | 146,185 |  |  | $ | 1,238,832 |  |  | $ | 191,425 |  |  | $ | 1,193,468 |
Commitments to Sell Loans: |  |  |  |  |  |  |  |
Mandatory |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Non-mandatory |  | $ | 5,992 |  |  | $ | — |  |  | $ | 8,731 |  |  | $ | — |
Standby Letters of Credit |  | $ | 3,340 |  |  | $ | 16,161 |  |  | $ | 3,047 |  |  | $ | 17,117 |
The fixed rate commitments to fund loans have interest rates ranging from 2.00% to 24.00% and maturities ranging from less than 1 year to 27 years. Since many commitments to make loans expire without being used, these amounts do not necessarily represent future cash commitments. Collateral obtained upon exercise of the commitment is determined using management’s credit evaluation of the borrower, and may include accounts receivable, inventory, property, land, and other items. The Company maintains an allowance for credit losses on unfunded loan commitments to provide for the risk of loss inherent in these arrangements. The allowance is computed using a methodology similar to that used to determine the allowance for credit losses on loans, modified to take into account the probability of a drawdown on the commitment. The allowance for credit losses on unfunded loan commitments is classified as a liability account on the balance sheet within accrued interest payable and other liabilities.

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- Definition The entire disclosure for commitments and contingencies. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 440 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482648/440-10-50-4 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 450 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//450/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 954 -SubTopic 440 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480327/954-440-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 440 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482648/440-10-50-4 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 440 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//440/tableOfContent + Details
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