XML 26 R15.htm IDEA: XBRL DOCUMENT
v3.21.2

Loan-Level Interest Rate Swaps | 6 Months Ended
--- | ---
Jun. 30, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Loan-Level Interest Rate Swaps |
(6) | Loan-Level Interest Rate Swaps
| Mid Penn enters into loan-level interest rate swaps with certain qualifying, creditworthy commercial loan customers to provide a loan pricing structure that meets both Mid Penn’s and the customer’s interest rate risk management needs. Mid Penn simultaneously enters into parallel interest rate swaps with a dealer counterparty, with identical notional amounts and terms. The net result of the offsetting customer and dealer counterparty swap agreements is that the customer pays a fixed rate of interest and Mid Penn receives a floating rate. Mid Penn’s loan-level interest rate swaps are considered derivatives but are not accounted for using hedge accounting.
The fair value, notional amount, and collateral posted related to loan-level interest rate swaps are presented below.
(Dollars in thousands) |  | June 30, 2021 |  |  | December 31, 2020 |
Interest Rate Swap Contracts - Commercial Loans: |  |  |  |  |  |  |  |
Fair Value (a) |  | $ | 560 |  |  | $ | 489 |
Notional Amount |  |  | 77,754 |  |  |  | 22,331 |
Cash Collateral Posted (b) |  |  | 500 |  |  |  | 500 |
| (a) | Represents the total of the equal and offsetting fair value assets and liabilities related to the loan level interest rate swaps
| (b) | Included in cash and due from banks on the Consolidated Balance Sheet
The gross amounts of commercial loan swap derivatives, the amounts offset and the carrying values in the Consolidated Balance Sheets, and the collateral pledged to support such agreements are presented below.
(Dollars in thousands) |  | June 30, 2021 |  |  | December 31, 2020 |
Interest Rate Swap Contracts - Commercial Loans: |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 560 |  |  | $ | 489 |
Gross amounts offset |  |  | 560 |  |  |  | 489 |
Net Amounts Presented in the Consolidated Balance Sheets |  |  | — |  |  |  | — |
Gross amounts not offset: |  |  |  |  |  |  |  |
Financial instruments |  |  | — |  |  |  | — |
Cash collateral |  |  | 500 |  |  |  | 500 |
Net Amounts |  | $ | 500 |  |  | $ | 500 |

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 The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration