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Derivatives and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of cumulative basis adjustment for fair value hedges

As of June 30, 2025 and December 31, 2024, the following amounts were recorded on the balance sheet 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)
			06/30/2025			06/30/2025			12/31/2024			12/31/2024
Fixed Rate Loans1			$99,672			$(328)			$149,175			$(825)
Total			$99,672			$(328)			$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 June 30, 2025 and December 31, 2024, the amortized cost basis of the closed portfolios used in these hedging relationships was $688.3 million and $711.0 million respectively; the cumulative basis adjustments associated with these hedging relationships was $328,000 and $825,000, respectively; and the amounts of the designated hedged items were $100.0 million and $150.0 million, $50.0 million of designated hedged items matured in the six-month period ending June 30, 2025.

Schedule of fair values of derivative instruments on the consolidated statements of condition

The tables below present the fair value of the Company’s derivative financial instruments as well as their classification on the consolidated statements of condition as of June 30, 2025 and December 31, 2024. Amounts below are presented on a net basis in accordance with applicable accounting guidance.

Derivative Assets
			June 30, 2025
(In thousands)			Notional Amount			Balance Sheet Location			Fair Value
Derivatives designated as hedging instruments
Interest Rate Products			$	100,000		Other Assets			$	350
Total derivatives designated as hedging instruments									$	350
Derivatives not designated as hedging instruments
Interest Rate Products			$	193,867		Other Assets			$	4,554
Risk Participation Agreement			0			Other Assets			0
Total derivatives not designated as hedging instruments									$	4,554

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
			June 30, 2025
(In thousands)			Notional Amount			Balance Sheet Location			Fair Value
Derivatives not designated as hedging instruments
Interest Rate Products			$	193,867		Other Liabilities			$	4,906
Risk Participation Agreement			61,227			Other Liabilities			128
Total derivatives not designated as hedging instruments									$	5,034

Derivative Liabilities
			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 effect of fair value and cash flow hedge accounting on the consolidated statements of income

The tables below present the effect of the Company’s derivative financial instruments on the consolidated statements of income for the three and six months ended June 30, 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
			Three Months Ended
			06/30/2025			06/30/2024
(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			$	247		$	673
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			158			153
Derivatives designated as hedging instruments			89			520

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
			Six Months Ended
			06/30/2025			06/30/2024
(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			$	540		$	1,335
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			498			(1,013)
Derivatives designated as hedging instruments			42			2,348

Schedule of effect of derivatives not designated as hedging instruments on the consolidated statements of income

The tables below present 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 and six months ended June 30, 2025 and 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)						06/30/2025			06/30/2024
Interest Rate Products			Other Income			$	(82)		$	0
Risk Participation Agreement			Other Income			9			6
Total						$	(73)		$	6
Fee Income			Other income			$	228		$	144

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
						Six Months Ended
(In thousands)						06/30/2025			06/30/2024
Interest Rate Products			Other Income			$	(194)		$	37
Risk Participation Agreement			Other Income			34			78
Total						$	(160)		$	115
Fee Income			Other income			$	257		$	383

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Tabular disclosure for cash flow 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.

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