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Derivatives and Hedging Activities (Tables) | 6 Months Ended
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Jun. 30, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Schedule of Fair Value of Derivative Financial Instruments as well as their Location on Balance Sheet | The table below presents the fair value of the Company’s derivative financial instruments as well as their location on the Balance Sheet as of June 30, 2021 and December 31, 2020.
As of June 30, 2021 |  | Derivative Assets |  |  | Derivative Liabilities |
|  | Notional Amount |  |  | Balance Sheet Location |  | Fair Value |  |  | Notional Amount |  |  | Balance Sheet Location |  | Fair Value |
|  | (in thousands) |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate products |  | $ | 66,615 |  |  | Other Assets |  | $ | 586 |  |  | $ | 66,615 |  |  | Other Liabilities |  | $ | 562 |
Total derivatives not designated as hedging instruments |  |  |  |  |  |  |  | $ | 586 |  |  |  |  |  |  |  |  | $ | 562 |
As of December 31, 2020 |  | Derivative Assets |  |  | Derivative Liabilities |
|  | Notional Amount |  |  | Balance Sheet Location |  | Fair Value |  |  | Notional Amount |  |  | Balance Sheet Location |  | Fair Value |
|  | (in thousands) |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate products |  | $ | 66,904 |  |  | Other Assets |  | $ | 1,088 |  |  | $ | 66,904 |  |  | Other Liabilities |  | $ | 1,149 |
Total derivatives not designated as hedging instruments |  |  |  |  |  |  |  | $ | 1,088 |  |  |  |  |  |  |  |  | $ | 1,149 |
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 for the three and six months ended June 30, 2021 and 2020.
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 |
|  |  |  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  |  |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
|  |  |  | (in thousands) |
Interest rate products |  | Other income |  | $ | (64 | ) |  | $ | (98 | ) |  | $ | 85 |  |  | $ | (98 | )
Total |  |  |  | $ | (64 | ) |  | $ | (98 | ) |  | $ | 85 |  |  | $ | (98 | )
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, 2021 and December 31, 2020. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The derivative assets are located within the prepaid and other assets line item on the Consolidated Balance Sheets and the derivative liabilities are located within the accrued expenses and other liabilities line item on the Consolidated Balance Sheets.
Offsetting of Derivative Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Gross Amounts Not Offset in the Consolidated Balance Sheets |
|  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Consolidated Balance Sheets |  |  | Net Amounts of Assets presented in the Consolidated Balance Sheets |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
|  | (in thousands) |
Derivatives |  | $ | 586 |  |  | $ | — |  |  | $ | 586 |  |  | $ | 562 |  |  | $ | 24 |  |  | $ | — |
Offsetting of Derivative Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of June 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Gross Amounts Not Offset in the Consolidated Balance Sheets |
|  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Consolidated Balance Sheets |  |  | Net Amounts of Liabilities presented in the Consolidated Balance Sheets |  |  | Financial Instruments |  |  | Cash Collateral Provided |  |  | Net Amount |
|  | (in thousands) |
Derivatives |  | $ | 562 |  |  | $ | — |  |  | $ | 562 |  |  | $ | 562 |  |  | $ | — |  |  | $ | — |
Offsetting of Derivative Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Gross Amounts Not Offset in the Consolidated Balance Sheets |
|  | Gross Amounts of Recognized Assets |  |  | Gross Amounts Offset in the Consolidated Balance Sheets |  |  | Net Amounts of Assets presented in the Consolidated Balance Sheets |  |  | Financial Instruments |  |  | Cash Collateral Received |  |  | Net Amount |
Derivatives |  | $ | 1,088 |  |  | $ | — |  |  | $ | 1,088 |  |  | $ | 1,088 |  |  | $ | — |  |  | $ | 1,088 |
Offsetting of Derivative Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Gross Amounts Not Offset in the Consolidated Balance Sheets |
|  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Consolidated Balance Sheets |  |  | Net Amounts of Liabilities presented in the Consolidated Balance Sheets |  |  | Financial Instruments |  |  | Cash Collateral Provided |  |  | Net Amount |
Derivatives |  | $ | 1,149 |  |  | $ | — |  |  | $ | 1,149 |  |  | $ | — |  |  | $ | 1,150 |  |  | $ | (1 | )

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