XML 41 R29.htm IDEA: XBRL DOCUMENT v3.26.1
Derivatives and Hedging Activities (Tables)
 3 Months Ended
Mar. 31, 2026
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, 2026 and December 31, 2025, 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 IncludedCarrying 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)
03/31/202603/31/202612/31/202512/31/2025
Fixed Rate Loans1
$49,970$(30)$49,962$(38)
Total$49,970$(30)$49,962$(38)
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, 2026 and December 31, 2025, the amortized cost basis of the closed portfolios used in these hedging relationships was $648.5 million and $658.5 million respectively; the cumulative basis adjustments associated with these hedging relationships was $30,000 and $38,000, respectively; and the amounts of the designated hedged items were $50.0 million and $100.0 million respectively.
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, 2026 and December 31, 2025.
(In thousands)Notional AmountFair ValueNotional AmountFair Value
March 31, 2026December 31, 2025
Derivative Assets
Derivatives designated as hedging instruments
Interest Rate Products$50,000$23$50,000$33
Total derivatives designated as hedging instruments$23$33
Derivatives not designated as hedging instruments
Interest Rate Products$251,804$3,725$249,273$5,032
Total derivatives not designated as hedging instruments$3,725 $5,032 
 Derivative Liabilities
Derivatives not designated as hedging instruments
Interest Rate Products$251,804$4,013$249,273$5,312
Risk Participation Agreement57,7178264,28277
Total derivatives not designated as hedging instruments $4,095$5,389
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, 2026 and 2025:
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
03/31/202603/31/2025
(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$32 $294 
The effects of fair value and cash flow hedging:
Gain or (loss) on fair value hedging relationships in Subtopic 815-20
Interest contracts
Hedged items9 340 
Derivatives designated as hedging instruments23 (46)
The table below presents the effect of the Company’s derivative financial instruments that are not designated as hedging instruments on the consolidated statements of income for the three months ending March 31, 2026 and March 31, 2025:
Effect of Derivatives Not Designated as Hedging Instruments on the Consolidated Statements of Income
Derivatives Not Designated as Hedging Instruments under Subtopic 815-20 Location of Gain or (Loss) Recognized in Income on DerivativeAmount of Gain or (Loss) Recognized in Income on DerivativeAmount of Gain or (Loss) Recognized in Income on Derivative
Three Months Ended
(In thousands)03/31/202603/31/2025
Interest Rate ProductsOther Income$(65)$(111)
Risk Participation AgreementOther Income(4)25 
Total$(69)$(86)
Fee Income Other Income $58 $29