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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 Fair Value of Derivative Financial Instruments | The following tables summarize the fair value of derivative financial instruments utilized by Horizon:
| Asset Derivatives |  | Liability Derivatives
| December 31, 2023 |  | December 31, 2023
| Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
Derivatives not designated as hedging instruments |  |  |  |  |  |  |
Interest rate contracts – fair value hedges | 558,164 |  |  | 26,556 |  |  | 514,881 |  |  | 24,024 |
Mortgage loan contracts | 4,844 |  |  | 33 |  |  | — |  |  | — |
Commitments to originate mortgage loans | 4,351 |  |  | 125 |  |  | — |  |  | — |
Total derivatives not designated as hedging instruments | 567,359 |  |  | 26,714 |  |  | 514,881 |  |  | 24,024 |
Total derivatives | $ | 567,359 |  |  | $ | 26,714 |  |  | $ | 514,881 |  |  | $ | 24,024 |
| Asset Derivatives |  | Liability Derivatives
| December 31, 2022 |  | December 31, 2022
| Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
Derivatives designated as hedging instruments |  |  |  |  |  |  |
Interest rate contracts – cash flow hedges | $ | 50,000 |  |  | $ | 1,976 |  |  | $ | — |  |  | $ | — |
Total derivatives designated as hedging instruments | 50,000 |  |  | 1,976 |  |  | — |  |  | — |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |
Interest rate contracts – fair value hedge | 514,551 |  |  | 42,619 |  |  | 514,551 |  |  | 42,619 |
Mortgage loan contracts | — |  |  | — |  |  | 13,800 |  |  | 50 |
Commitments to originate mortgage loans | 12,179 |  |  | 284 |  |  | — |  |  | — |
Total derivatives not designated as hedging instruments | 526,730 |  |  | 42,903 |  |  | 528,351 |  |  | 42,669 |
Total derivatives | $ | 576,730 |  |  | $ | 44,879 |  |  | $ | 528,351 |  |  | $ | 42,669 |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) | The effect of the derivative instruments on the consolidated statement of comprehensive income (loss) for the 12–month periods ended December 31 is as follows:
| Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Derivative Years Ended December 31
| 2023 |  | 2022 |  | 2021
Derivatives in cash flow hedging relationship |  |  |  |  |
Interest rate contracts | $ | (1,561) |  |  | $ | 4,463 |  |  | $ | 3,610 |
Schedule of Effect of Derivative Instruments on Consolidated Statement of Income Derivative in Fair Value Hedging Relationship | The effect of derivatives designated as a hedging instrument on the consolidated statements of income for the 12–month periods ended December 31 is as follows:
| Location of gain (loss) recognized on derivative |  | Amount of Gain (Loss) Recognized on Derivative Years Ended December 31
|  | 2023 |  | 2022 |  | 2021
Derivative designated as hedging instruments |  |  |  |  |  |  |
Interest rate contracts – cash flow hedges | Interest expense – Borrowings |  | $ | 1,832 |  |  | $ | (628) |  |  | $ | (1,901) |
Total |  |  | $ | 1,832 |  |  | $ | (628) |  |  | $ | (1,901) |
The effect of derivatives not designated as a hedging instrument on the consolidated statements of income for the 12–month periods ended December 31 is as follows:
| Location of gain (loss) recognized on derivative |  | Amount of Gain (Loss) Recognized on Derivative Years Ended December 31
|  | 2023 |  | 2022 |  | 2021
Derivative not designated as hedging instruments |  |  |  |  |  |  |
Interest rate contracts – fair value hedge | Interest income – loans receivable |  | $ | 1,169 |  |  | $ | (39) |  |  | $ | (372) |
Interest rate contracts – fair value hedge | Interest income – investment securities |  | 240 |  |  | (99) |  |  | (267) |
Mortgage loan contracts | Non–interest income – Gain on sale of loans |  | 83 |  |  | 188 |  |  | (238) |
Commitments to originate mortgage loans | Non–interest income – Gain on sale of loans |  | (159) |  |  | (753) |  |  | (8) |
Total |  |  | $ | 1,333 |  |  | $ | (703) |  |  | $ | (885) |

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