XML 47 R31.htm IDEA: XBRL DOCUMENT
v3.25.1

DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of Fair Values of Company's Derivative Instrument Assets and Liabilities Related to Interest Rate Swap Contracts | The interest rate swap agreement designated as a cash flow hedge was as follows:
| March 31, 2025 |  | December 31, 2024
(dollars in thousands) | Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
Fair value recorded in other assets | $ | 7,000 |  |  | $ | 3 |  |  | $ | 7,000 |  |  | $ | 38 |
Schedule of the Effect of Interest Rate Contracts Designated as Cash Flow Hedges on the Consolidated Statements of Income | The effect of interest rate swap agreements designated as cash flow hedges on the consolidated statements of income was as follows:
Location of gross gain (loss) reclassified from accumulated other comprehensive income (loss) to income |  |  |  | Amounts of gross gain (loss) reclassified from accumulated other comprehensive income (loss)
|  |  |  | Three Months Ended March 31,
(dollars in thousands) |  |  |  |  |  | 2025 |  | 2024 |  |
Designated as cash flow hedges: |  |  |  |  |  |  |  |  |  |
Junior subordinated debentures interest expense |  |  |  |  |  | $ | 36 |  | $ | 132 |  |  |
Summary of Interest Rate Swap Agreements Not Designated as Hedging Instruments | The interest rate swap agreements not designated as hedging instruments were as follows:
| March 31, 2025 |  | December 31, 2024
(dollars in thousands) | Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
Fair value recorded in other assets: |  |  |  |  |  |  |
Interest rate swaps with a commercial borrower counterparty | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest rate swaps with a financial institution counterparty | 78,195 |  |  | 4,288 |  |  | 79,416 |  |  | 5,515 |
Total fair value recorded in other assets | $ | 78,195 |  |  | $ | 4,288 |  |  | $ | 79,416 |  |  | $ | 5,515 |
Fair value recorded in other liabilities: |  |  |  |  |  |  |
Interest rate swaps with a commercial borrower counterparty | $ | 78,195 |  |  | $ | (4,288) |  |  | $ | 79,416 |  |  | $ | (5,515) |
Interest rate swaps with a financial institution counterparty | — |  |  | — |  |  | — |  |  | — |
Total fair value recorded in other liabilities | $ | 78,195 |  |  | $ | (4,288) |  |  | $ | 79,416 |  |  | $ | (5,515) |
Summary of the Effect of Interest Rate Contracts Not Designated as Hedging Instruments Recognized in Other Noninterest Income | The effect of interest rate contracts not designated as hedging instruments recognized in other noninterest income on the consolidated statements of income was as follows:
|  |  | Three Months Ended March 31,
(dollars in thousands) |  |  |  |  | 2025 |  | 2024 |  |
Not designated as hedging instruments: |  |  |  |  |
Gross gains |  |  |  |  | $ | 1,649 |  |  | $ | 2,038 |  |  |
Gross losses |  |  |  |  | (1,649) |  |  | (2,038) |  |  |
Net gains (losses) |  |  |  |  | $ | — |  |  | $ | — |  |  |
Schedule of Derivative Instruments | The risk participation agreement matures in 2035 and is summarized as follows:
(dollars in thousands) |  | March 31, 2025 |  | December 31, 2024
Risk participation agreements sold |  |
Number of risk participation agreements |  | 1 |  |  | 1 |
Notional amount |  | $ | 5,268 |  |  | $ | 5,268 |
Fair value |  | (10) |  |  | (10) |

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 gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
Name: | us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
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 of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8 Reference 5: 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 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5 Reference 9: 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 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. + References Reference 1: 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 + Details
Name: | us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 4CC -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC + Details
Name: | us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration