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Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Financial Instruments

The following tables summarize the fair value of our derivative financial instruments utilized by Horizon on a gross basis for the periods indicated.

			Asset Derivatives												Liability Derivatives
			December 31, 2024												December 31, 2024
			Notional Amount						Fair Value						Notional Amount						Fair Value
Derivatives designated as hedging instruments
Interest rate contracts – fair value hedges			$	—					$	—					$	—					$	—
Total derivatives designated as hedging instruments			$	—					$	—					$	—					$	—
Derivatives not designated as hedging instruments
Interest rate contracts – customer accommodation			521,520						28,817						521,520						28,817
Mortgage loan contracts			6,155						27						—						—
Commitments to originate mortgage loans			6,856						202						—						—
Total derivatives not designated as hedging instruments			534,531						29,046						521,520						28,817
Total derivatives			$	534,531					$	29,046					$	521,520					$	28,817
Total derivatives subject to enforceable master netting arrangements, gross			$	534,531					$	29,046					$	521,520					$	28,817
Less: Gross amounts offset			—						—						—						—
Total derivatives subject to enforceable master netting arrangements, net			$	534,531					$	29,046					$	521,520					$	28,817

			Asset Derivatives												Liability Derivatives
			December 31, 2023												December 31, 2023
			Notional Amount						Fair Value						Notional Amount						Fair Value
Derivatives designated as hedging instruments
Interest rate contracts – fair value hedges			$	53,468					$	2,950					$	—					$	—
Total derivatives designated as hedging instruments			$	53,468					$	2,950					$	—					$	—
Derivatives not designated as hedging instruments
Interest rate contracts – customer accommodation			504,696						23,606						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			513,891						23,764						514,881						24,024
Total derivatives			$	567,359					$	26,714					$	514,881					$	24,024
Total derivatives subject to enforceable master netting arrangements, gross			$	567,359					$	26,714					$	514,881					$	24,024
Less: Gross amounts offset			—						—						—						—
Total derivatives subject to enforceable master netting arrangements, net			$	567,359					$	26,714					$	514,881					$	24,024

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The effect of the derivative instruments on the consolidated statements of comprehensive income (loss) for the twelve months ended December 31 is as follows:

															Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Derivative Years Ended December 31
															2024						2023						2022
Derivatives in cash flow hedging relationship
Interest rate contracts															$	—					$	(1,561)					$	4,463

Schedule of Effect of Derivative Instruments on Consolidated Statement of Income Derivative in Fair Value Hedging Relationship

The effect of the derivatives in cash flow hedging relationships on the consolidated statements of income for the twelve months ended December 31 is as follows:

			Location of gain (loss) recognized																		Amount of Gain (Loss) Recognized on Derivative Years Ended December 31
																					2024						2023						2022
Derivatives in cash flow hedging relationship
Interest rate contracts – cash flow hedges			Interest expense – Borrowings																		$	—					$	1,832					$	(628)

The effect of the derivative and the hedged item in fair value hedging relationships on the consolidated statements of income for the twelve months ended December 31 is as follows:

			Location of gain (loss) recognized on derivative and hedged item			Amount of Gain (Loss) Recognized on Derivative and Hedged Item Years Ended December 31
									2024						2023						2022
Derivatives designated as hedging instruments
Interest rate contracts - fair value hedge			Interest income - loans receivable						$	1,166					$	1,169					$	(39)
Hedged item									(1,166)						(1,169)						39
Interest rate contracts - fair value hedge			Interest income - investment securities						(220)						240						(99)
Hedged item									220						(240)						99
Total									$	—					$	—					$	—

The effect of derivatives not designated as hedging instruments on the consolidated statements of income for the twelve months ended December 31 is as follows:

			Location of gain (loss) recognized on derivative						Amount of Gain (Loss) Recognized on Derivative Years Ended December 31
									2024						2023						2022
Derivatives not designated as hedging instruments
Mortgage loan contracts			Non-interest income - Gain on sale of loans						$	68					$	83					$	188
Commitments to originate mortgage loans			Non-interest income - Gain on sale of loans						(67)						(159)						(753)
Total									$	1					$	(76)					$	(565)

Schedule of Derivative Instruments

The following tables summarize the carrying amount and associated cumulative basis adjustment related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships.

			Amortized Cost of Hedged Items												Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Items
			December 31, 2024						December 31, 2023						December 31, 2024						December 31, 2023
Loans			$	—					$	40,788					$	—					$	(2,532)

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