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Derivative Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2022
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Schedule of Notional Amount and Fair Value of Mortgage Banking Derivative Financial Instruments | The notional amount and fair value of Mid Penn’s mortgage banking derivative financial instruments as of June 30, 2022 and December 31, 2021 are presented below.
|  | June 30, 2022 |  |  | December 31, 2021 |
(Dollars in thousands) |  | Notional Amount |  |  | Fair Value |  |  | Notional Amount |  |  | Fair Value |
Interest Rate Lock Commitments |  | $ | 9,742 |  |  | $ | 83 |  |  | $ | 16,107 |  |  | $ | 56 |
Forward Commitments |  |  | 16,193 |  |  |  | (124 | ) |  |  | 20,521 |  |  |  | 32 |
Schedule of Mortgage Banking Derivative Financial Instruments Fair Values, and Location in the Consolidated Balance Sheets | The following table presents Mid Penn’s mortgage banking derivative financial instruments, their fair values, and their location in the consolidated balance sheets as of June 30, 2022 and December 31, 2021.
|  | June 30, 2022 |  |  | December 31, 2021 |
(Dollars in thousands) |  | Asset Derivatives |  |  | Liability Derivatives |  |  | Asset Derivatives |  |  | Liability Derivatives |
Interest Rate Lock Commitments |  | $ | 83 |  |  | $ | — |  |  | $ | 56 |  |  | $ | — |
Forward Commitments |  |  | — |  |  |  | 124 |  |  |  | 32 |  |  |  | — |
Total |  | $ | 83 |  |  | $ | 124 |  |  | $ | 88 |  |  | $ | — |
Schedule of Mortgage Banking Derivative Financial Instruments Net, Gains or Losses Recognized Within Other Noninterest Income | The following table presents Mid Penn’s mortgage banking derivative financial instruments and the amount of the net gains or losses recognized within other noninterest income on the consolidated statement of income for the three and six months ended June 30, 2022 and 2021.
|  | Three months ended |  |  | Six months ended |
(Dollars in thousands) |  | June 30, 2022 |  |  | June 30, 2021 |  |  | June 30, 2022 |  |  | June 30, 2021 |
Interest Rate Lock Commitments |  | $ | 214 |  |  | $ | — |  |  | $ | 27 |  |  | $ | — |
Forward Commitments |  |  | 324 |  |  |  | — |  |  |  | 1,077 |  |  |  | — |
Total |  | $ | 538 |  |  | $ | — |  |  | $ | 1,104 |  |  | $ | — |
Notional Amount, and Collateral Posted Related to Loan-level Interest Rate Swaps | The fair value, notional amount, and collateral posted related to loan-level interest rate swaps are presented below.
(Dollars in thousands) |  | June 30, 2022 |  |  | December 31, 2021 |
Interest Rate Swap Contracts - Commercial Loans: |  |  |  |  |  |  |  |
Fair Value (a) |  | $ | 8,487 |  |  | $ | 102 |
Notional Amount |  |  | 112,389 |  |  |  | 109,577 |
Cash Collateral Posted (b) |  |  | 1,600 |  |  |  | 1,600 |
| (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
Schedule of Gross Amounts of Commercial Loan Swap Derivatives, Amounts Offset and Carrying Values | 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, 2022 |  |  | December 31, 2021 |
Interest Rate Swap Contracts - Commercial Loans: |  |  |  |  |  |  |  |
Gross amounts recognized |  | $ | 8,487 |  |  | $ | 102 |
Gross amounts offset |  |  | 8,487 |  |  |  | 102 |
Net Amounts Presented in the Consolidated Balance Sheets |  |  | — |  |  |  | — |
Gross amounts not offset: |  |  |  |  |  |  |  |
Financial instruments |  |  | — |  |  |  | — |
Cash collateral |  |  | 1,600 |  |  |  | 1,600 |
Net Amounts |  | $ | 1,600 |  |  | $ | 1,600 |

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959 + Details
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- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 + Details
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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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