XML 46 R34.htm IDEA: XBRL DOCUMENT
v3.25.1

Derivatives and Hedging Activities (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of fair value hedging instruments, statements of financial performance and financial position, location | As of March 31, 2025 and December 31, 2024, the following amounts were recorded on the consolidated statements of condition related to cumulative basis adjustment for fair value hedges.
Line Item in the Statement of Financial Position in Which the Hedged Item is Included | Carrying Amount of the Hedged Assets/(Liabilities) | Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities) | Carrying Amount of the Hedged Assets/(Liabilities) | Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities)
| 03/31/2025 | 03/31/2025 | 12/31/2024 | 12/31/2024
Fixed Rate Loans 1 | $149,514 | $(486) | $149,175 | $(825)
Total | $149,514 | $(486) | $149,175 | $(825)
1 These amounts include the amortized cost basis of closed portfolios of fixed rate loans used to designate hedging relationships in which the hedged item is the stated amount of assets in the closed portfolio anticipated to be outstanding for the designated hedged period. At March 31, 2025 and December 31, 2024, the amortized cost basis of the closed portfolios used in these hedging relationships was $701.6 million and $711.0 million respectively; the cumulative basis adjustments associated with these hedging relationships was $486,000 and $825,000, respectively; and the amounts of the designated hedged items were $150.0 million for both periods.
Schedule of derivative instruments in statement of financial position, fair value | The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the consolidated statements of condition as of March 31, 2025 and December 31, 2024.
Derivative Assets |  |  |
March 31, 2025 |
(In thousands) | Notional Amount | Balance Sheet Location | Fair Value
Derivatives designated as hedging instruments |  |  |
Interest Rate Products | $ | 150,000 |  | Other Assets | $ | 514 |
Total derivatives designated as hedging instruments |  |  | $ | 514 |
Derivatives not designated as hedging instruments |  |  |
Interest Rate Products | $ | 179,910 |  | Other Assets | $ | 3,020 |
Risk Participation Agreement | 0 |  | Other Assets | 0 |
Total derivatives not designated as hedging instruments |  |  | $ | 3,020 |
Derivative Assets |  |  |
December 31, 2024 |
(In thousands) | Notional Amount | Balance Sheet Location | Fair Value
Derivatives designated as hedging instruments |  |  |
Interest Rate Products | $ | 150,000 |  | Other Assets | $ | 864 |
Total derivatives designated as hedging instruments |  |  | $ | 864 |
Derivatives not designated as hedging instruments |  |  |
Interest Rate Products | $ | 175,865 |  | Other Assets | $ | 1,831 |
Risk Participation Agreement | 0 |  | Other Assets | 0 |
Total derivatives not designated as hedging instruments |  |  | $ | 1,831 |
Derivative Liabilities |
March 31, 2025 |
(In thousands) | Notional Amount | Balance Sheet Location | Fair Value
Derivatives not designated as hedging instruments |
Interest Rate Products | $ | 179,910 |  | Other Liabilities | $ | 3,290 |
Risk Participation Agreement | 53,629 |  | Other Liabilities | 117 |
Total derivatives not designated as hedging instruments | $ | 3,407 |
December 31, 2024 |
(In thousands) | Notional Amount | Balance Sheet Location | Fair Value
Derivatives not designated as hedging instruments |  |  |
Interest Rate Products | $ | 178,646 |  | Other Liabilities | $ | 1,990 |
Risk Participation Agreement | 44,387 |  | Other Liabilities | 83 |
Total derivatives not designated as hedging instruments |  |  | $ | 2,073 |
Schedule of derivative instruments in statement of income | The table below presents the effect of the Company’s derivative financial instruments on the consolidated statements of income for the three months ended March 31, 2025 and 2024:
The Effect of Fair Value and Cash Flow Hedge Accounting on the Consolidated Statements of Income
| Location of Gain or (Loss) Recognized in Income on Derivative
| 03/31/2025 | 03/31/2024
(In thousands) | Interest Income
Total amounts of income and expense line items presented in the statement of financial performance in which the effects of fair value or cash flow hedges are recorded | $ | 294 |  | $ | 664 |
The effects of fair value and cash flow hedging: |  |
Gain or (loss) on fair value hedging relationships in Subtopic 815-20 |  |
Interest contracts |  |
Hedged items | 340 |  | (1,165) |
Derivatives designated as hedging instruments | (46) |  | 1,829 |
The table below presents the effect of the Company’s derivative financial instruments that are not designated as hedging instruments on the consolidated statements of income for the three months ending March 31, 2025 and March 31, 2024:
Effect of Derivatives Not Designated as Hedging Instruments on the Consolidated Statements of Income
Derivatives Not Designated as Hedging Instruments under Subtopic 815-20 | Location of Gain or (Loss) Recognized in Income on Derivative | Amount of Gain or (Loss) Recognized in Income on Derivative | Amount of Gain or (Loss) Recognized in Income on Derivative
|  | Three Months Ended
(In thousands) |  | 03/31/2025 | 03/31/2024
Interest Rate Products | Other Income | $ | (111) |  | $ | 36 |
Risk Participation Agreement | Other Income | 25 |  | 72 |
Total |  | $ | (86) |  | $ | 108 |
Fee Income | Other Income | $ | 29 |  | $ | 239 |

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for fair value hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
Name: | us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration