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Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Outstanding Notional Balances and Fair Values of Outstanding Derivative Positions

The following tables provide the outstanding notional balances and fair values of outstanding derivative positions at June 30, 2024 and December 31, 2023:


(Dollars in thousands)	Outstanding Notional Balance		Asset Derivative Fair Value		Liability Derivative Fair Value		Pay Rate (1)	Receive Rate (1)	Remaining Term (2)
June 30, 2024:
Fair value hedges:
Risk participation agreements purchased	$	13,042	$	11	$	—	—	5.86%		2.1
Risk participation agreements sold		69,987		—		1	—	4.89%		2.8
Commercial loan one-way interest rate swaps		44,938		237		74	7.12%	—		3.0
Commercial loan pass-through interest rate swaps:
Loan customer counterparty		199,453		381		7,170	—	5.82%		3.1
Financial institution counterparty		199,453		7,170		381	5.82%	—		3.1
Total fair value hedges		526,873		7,799		7,626
Total derivatives	$	526,873	$	7,799	$	7,626


(Dollars in thousands)	Outstanding Notional Balance		Asset Derivative Fair Value		Liability Derivative Fair Value		Pay Rate (1)	Receive Rate (1)	Remaining Term (2)
December 31, 2023:
Cash flow hedges:
Pay-fixed interest rate swap	$	200,000	$	—	$	1,541	3.60%	USD Fed Funds-H.15		5.0
Total cash flow hedges		200,000		—		1,541
Fair value hedges:
Risk participation agreements purchased		13,935		—		20	—	5.80%		2.5
Risk participation agreements sold		54,383		6		—	—	5.06%		3.9
Commercial loan one-way interest rate swaps		32,477		48		352	7.02%	—		3.1
Commercial loan pass-through interest rate swaps:
Loan customer counterparty		216,766		2,327		6,447	—	5.86%		3.7
Financial institution counterparty		216,766		6,447		2,327	5.86%	—		3.7
Total fair value hedges		534,327		8,828		9,146
Total derivatives	$	734,327	$	8,828	$	10,687

(1) Weighted average rate.

(2) Weighted average life (in years).

- 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 + Details