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Derivatives and Hedging Activities (Tables) | 6 Months Ended
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Jun. 30, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Schedule of Fair Value of Derivative Financial Instruments as well as their Classification on Balance Sheet | The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Balance Sheet as of June 30, 2020. No such instruments were outstanding as of December 31, 2019.
|  | Derivative Assets |  | Derivative Liabilities
|  |  |  |  |  | As of June 30, 2020 |  |  | As of December 31, 2019 |  |  |  |  |  | As of June 30, 2020 |  |  | As of December 31, 2019
|  | Notional Amount |  |  | Balance Sheet Location |  | Fair Value |  |  | Balance Sheet Location |  | Fair Value |  | Notional Amount |  |  | Balance Sheet Location |  | Fair Value |  |  | Balance Sheet Location |  | Fair Value
|  | (in thousands)
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate products |  | $ | 29,492 |  |  | Other Assets |  | $ | 1,085 |  |  | Other Assets |  | N/A |  | $ | 29,492 |  |  | Other Liabilities |  | $ | 1,183 |  |  | Other Liabilities |  | N/A
Total derivatives not designated as hedging instruments |  |  |  |  |  |  |  | $ | 1,085 |  |  |  |  | N/A |  |  |  |  |  |  |  | $ | 1,183 |  |  |  |  | N/A
Effect of Derivative Financial Instruments that are Not Designated as Hedging Instruments on Income Statement | The table below presents the effect of the Company’s derivative financial instruments that are not designated as hedging instruments on the Income Statement as of June 30, 2020. No such instruments were outstanding as of December 31, 2019.
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 |
|  |  |  | Quarter Ended June 30, 2020 |
|  |  |  | (in thousands) |
Interest rate products |  | Other income |  | $ | (98 | )
Total |  |  |  | $ | (98 | )
Fee income recognized from the Company's derivative financial instruments for the three and six months ended June 30, 2020 was $512,000.
Summary of Gross Presentation, Effects of Offsetting and a Net Presentation of Derivatives | The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of June 30, 2020. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the Balance Sheet.
Offsetting of Derivative Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Position |
|  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Statement of Financial Position |  |  | Net Amounts of Assets presented in the Statement of Financial Position |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
|  | (in thousands) |
Derivatives |  | $ | 1,085 |  |  | $ | — |  |  | $ | 1,085 |  |  | $ | 1,085 |  |  | $ | — |  |  | $ | 1,085 |
Offsetting of Derivative Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Gross Amounts Not Offset in the Statement of Financial Position |
|  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Statement of Financial Position |  |  | Net Amounts of Liabilities presented in the Statement of Financial Position |  |  | Financial Instruments |  |  | Cash Collateral Provided |  |  | Net Amount |
|  | (in thousands) |
Derivatives |  | $ | 1,183 |  |  | $ | — |  |  | $ | 1,183 |  |  | $ | — |  |  | $ | 1,120 |  |  | $ | 63 |

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