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Derivatives and Hedging Activities (Tables) | 12 Months Ended
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Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivatives Instruments in Balance Sheet Location | The table below presents the fair value of derivative financial instruments as well as the classification within the consolidated statements of financial condition:
|  | December 31, 2024 |  |  | December 31, 2023 |
(Dollars in thousands) |  | Balance Sheet Location |  | Fair Value |  |  | Balance Sheet Location |  | Fair Value |
Derivatives designated as hedging instruments |  |  |  |  |  |  |  |  |  |
Interest rate contracts |  | Other Assets |  | $ | 23,649 |  |  | Other Assets |  | $ | 8,880 |
Interest rate contracts |  | Other Liabilities |  | $ | - |  |  | Other Liabilities |  | $ | - |
The table below presents the notional and fair value of these derivative instruments as of December 31, 2024 and December 31, 2023:
| December 31, 2024 |
(Dollars in thousands) | Notional Amount |  | Balance Sheet Location | Fair Value |
Derivative assets |  |  |  |  |
Interest rate swaps | $ | 56,526 |  | Other Assets | $ | 686 |
Derivative liabilities |  |  |  |  |
Interest rate swaps | $ | 56,526 |  | Other Liabilities | $ | 686 |
| December 31, 2023 |
(Dollars in thousands) | Notional Amount |  | Balance Sheet Location | Fair Value |
Derivative assets |  |  |  |  |
Interest rate swaps | $ | - |  | Other Assets | $ | - |
Derivative liabilities |  |  |  |  |
Interest rate swaps | $ | - |  | Other Liabilities | $ | - |
Location and Amount of Gain (Loss) in Income on Fair Value and Cash Flow Hedging Relationships | The table below presents the effect of fair value and cash flow hedge accounting on the consolidated statements of operations for the periods presented:
|  | Location and Amount of Gain or (Loss) |  |  | Location and Amount of Gain or (Loss) |
|  | Recognized in Income on Fair Value and Cash Flow Hedging Relationships |  |  | Recognized in Income on Fair Value and Cash Flow Hedging Relationships |
|  | Year Ended December 31, 2024 |  |  | Year Ended December 31, 2023 |
|  | Interest Income |  |  | Interest Expense |  |  | Interest Income |  |  | Interest Expense |
Total amounts of income and expense line items presented in the consolidated statements of income in which the effects of fair value or cash flow hedges are recorded |  | $ | 2,581 |  |  | $ | (3,288 | ) |  | $ | (284 | ) |  | $ | - |
Gain or (loss) on fair value hedging relationships: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts: |  |  |  |  |  |  |  |  |  |  |  |
Hedged items |  | $ | (7,205 | ) |  | $ | - |  |  | $ | 1,534 |  |  | $ | - |
Derivatives designated as hedging instruments |  | $ | 7,203 |  |  | $ | - |  |  | $ | (1,454 | ) |  | $ | - |
Amount excluded from effectiveness testing recognized in earnings based on amortization approach |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Gain or (loss) on cash flow hedging relationships: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts: |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income |  | $ | (1,092 | ) |  | $ | - |  |  | $ | (2,837 | ) |  | $ | - |
Amount excluded from effectiveness testing recognized in earnings based on amortization approach |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Schedule of Cumulative Basis Adjustments on Hedged Items Designated as Fair Value Hedges and Related Amortized Cost | The table below presents the cumulative basis adjustments on hedged items designated as fair value hedges and the related amortized cost of those items as of the periods presented:
|  |  | December 31, 2024 |
|  |  | Cumulative amount of Fair |
|  |  | Value Hedging Adjustment |
Line Item in the Statement of |  |  | included in the carrying |
Financial Position in which the | Amortized cost of the |  | amount of the Hedged |
Hedged Item is included | Hedged Assets/(Liabilities) |  | Assets/(Liabilities) |
Securities available for sale | $ | 219,957 |  | $ | (7,602 | )

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