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Derivatives Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2024
Derivative [Line Items] |
Schedule of Hedge Relationships on Income Statement | ​ The following table presents the effect of fair value and cash flow hedge accounting on the income statement (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ | ​ | June 30, | ​ | June 30,
​ |  | 2024 | ​ | 2023 | ​ | 2024 | ​ | 2023
Total interest income |  | $ | 61,487 | ​ | $ | 52,190 | ​ | $ | 121,473 | ​ | $ | 105,376
Effects of cash flow hedge relationships | ​ |  | (202) | ​ |  | (96) | ​ |  | (406) | ​ |  | (103)
Reported total interest income | ​ | $ | 61,285 | ​ | $ | 52,094 | ​ | $ | 121,067 | ​ | $ | 105,273
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total interest expense |  | $ | 28,725 | ​ | $ | 20,527 | ​ | $ | 57,028 | ​ | $ | 37,724
Effects of cash flow hedge relationships | ​ |  | (254) | ​ |  | (8) | ​ |  | (496) | ​ |  | (8)
Reported total interest expense | ​ | $ | 28,471 | ​ | $ | 20,519 | ​ | $ | 56,532 | ​ | $ | 37,716
Schedule of interest rate swaps related to loan hedging program | At June 30, 2024 and December 31, 2023, interest rate swaps related to the Company’s loan hedging program that were outstanding are presented in the following table (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2024 | ​ | December 31, 2023
​ | ​ | ​ | Notional | ​ | ​ | Estimated | ​ | ​ | Notional | ​ | ​ | Estimated
​ | ​ | ​ | Amount | ​ | ​ | Fair Value | ​ | ​ | Amount | ​ | ​ | Fair Value
Interest rate swap agreements: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets | ​ | $ | 293,663 | ​ | $ | 12,794 | ​ | $ | 294,133 | ​ | $ | 12,813
Liabilities | ​ | ​ | 293,663 | ​ | ​ | (12,794) | ​ | ​ | 294,133 | ​ | ​ | (12,813)
Schedule of interest rate swap to facilitate customer's transactions | The Company establishes limits and monitors exposures for customer swap positions. Any fees received to enter the swap agreements at inception are recognized in earnings when received and is included in noninterest income. Such fees were as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ | ​ | June 30, | ​ | June 30,
​ |  | 2024 | ​ | 2023 | ​ | 2024 | ​ | 2023
Interest rate swap agreements |  | $ | 163 | ​ | $ | 158 | ​ | $ | 275 | ​ | $ | 497
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] |
Derivative [Line Items] |
Schedule of Hedge Relationships on Income Statement | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted |  | ​ |  | ​ |  | ​ | ​ |  | ​ |
​ | ​ | ​ | ​ | Average | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
​ | ​ | Balance | ​ | Remaining | ​ | Weighted | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
​ | ​ | Sheet | ​ | Maturity | ​ | Average | ​ | Receive | ​ | Notional | ​ | Estimated
Asset/Liability derivatives | ​ | Location | ​ | (In Years) | ​ | Pay Rate | ​ | Rate | ​ | Amount | ​ | Fair Value
June 30, 2024: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap agreements - securities |  | Other assets |  | 1.87 |  | 4.32 | % | SOFR Overnight | ​ | $ | 38,457 |  | $ | 139
Interest rate swap agreements - securities | ​ | Other liabilities |  | 3.19 |  | 4.25 | % | SOFR Overnight | ​ | $ | 17,050 |  | $ | (25)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​
December 31, 2023: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swap agreements - securities |  | Other liabilities |  | 3.40 |  | 4.25 | % | SOFR Overnight | ​ | $ | 27,050 |  | $ | (536)
​ ​ The effects of the Company’s fair value hedge relationships reported in interest income on taxable securities on the consolidated income statement were as follows (in thousands): ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ | ​ | June 30, | ​ | June 30,
​ |  | 2024 | ​ | 2023 | ​ | 2024 | ​ | 2023
Interest income on taxable securities |  | $ | 5,177 | ​ | $ | 4,335 | ​ | $ | 9,620 | ​ | $ | 7,986
Effects of fair value hedge relationships | ​ |  | 143 | ​ |  | — | ​ |  | 249 | ​ |  | —
Reported interest income on taxable securities | ​ | $ | 5,320 | ​ | $ | 4,335 | ​ | $ | 9,869 | ​ | $ | 7,986
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended
​ | ​ | June 30, | ​ | June 30,
Gain (loss) on fair value hedging relationship |  | 2024 | ​ | 2023 | ​ | 2024 | ​ | 2023
Interest rate swap agreements - securities: |  |  |  | ​ | ​ |  | ​ |  |  | ​ | ​ |
Hedged items |  | $ | 123 | ​ | $ | — | ​ | $ | 114 | ​ | $ | —
Derivative designated as hedging instruments | ​ | ​ | (123) | ​ | ​ | — | ​ | ​ | (114) | ​ | ​ | —
Carry amount of hedged assets - mortgage-backed securities | ​ | ​ | 47,132 | ​ | ​ | — | ​ | ​ | 47,132 | ​ | ​ | —
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] |
Derivative [Line Items] |
Schedule of Fair Value Hedge Relationships in Balance Sheet | At June 30, 2024 and December 31, 2023, cash flow hedges are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2024 | ​ | December 31, 2023
​ | ​ | Balance Sheet | ​ | Notional | ​ | Estimated | ​ | Balance Sheet | ​ | Notional | ​ | Estimated
​ | ​ | Location | ​ | Amount | ​ | Fair Value | ​ | Location | ​ | Amount | ​ | Fair Value
Cash flow hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Assets | ​ | Other liabilities | ​ | $ | 100,000 | ​ | $ | (1,201) | ​ | Other liabilities | ​ | $ | 100,000 | ​ | $ | (556)
Liabilities | ​ | Other assets | ​ | ​ | 175,000 | ​ | ​ | 309 | ​ | Other liabilities | ​ | ​ | 150,000 | ​ | ​ | (881)
Liabilities | ​ | Other liabilities | ​ | ​ | - | ​ | ​ | - | ​ | Other assets | ​ | ​ | 25,000 | ​ | ​ | 7
Schedule of Hedge Relationships on AOCI | The following table presents the effect of fair value and cash flow hedge accounting on AOCI (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivatives in cash flow hedging relationships: | ​ | ​ | Amount of Gain (Loss) Recognized on OCI on Derivative | ​ | Location of Gain or (Loss) Recognized from AOCI into Income | ​ | ​ | Amount of Gain or (Loss) Reclassified from AOCI into Income
Three Months Ended June 30, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps - Assets | ​ | $ | (80) | ​ | Interest income | ​ | $ | (202)
Interest rate swaps - Liabilities | ​ | ​ | 102 | ​ | Interest expense | ​ | ​ | 254
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three Months Ended June 30, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps - Assets | ​ | $ | (1,152) | ​ | Interest income | ​ | $ | (96)
Interest rate swaps - Liabilities | ​ | ​ | 113 | ​ | Interest expense | ​ | ​ | 8
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Six Months Ended June 30, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps - Assets | ​ | $ | (1,201) | ​ | Interest income | ​ | $ | (406)
Interest rate swaps - Liabilities | ​ | ​ | 309 | ​ | Interest expense | ​ | ​ | 496
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Six Months Ended June 30, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps - Assets | ​ | $ | (1,733) | ​ | Interest income | ​ | $ | (103)
Interest rate swaps - Liabilities | ​ | ​ | 113 | ​ | Interest expense | ​ | ​ | 8

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