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Derivatives (Tables)

3 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Interest Rate Swap Transactions

The Company presents derivative positions gross on the balance sheet for customers and net for financial institution counterparty positions subject to master netting arrangements. The fair value on the asset side was reduced by the margin call adjustment per the Company's netting arrangement in the amounts of $6,070 and $6,330 as of March 31, 2025 and December 31, 2024, respectively.

The following table reflects the derivatives recorded on the balance sheet as of March 31, 2025 and December 31, 2024:


	March 31, 2025					December 31, 2024
	Notional Amount		Fair Value			Notional Amount		Fair Value
Included in swap assets:
Interest rate swaps with loan customers in an asset position	$	83,271	$	2,125		$	68,621	$	1,169
Counterparty positions with financial institutions in an asset position		250,598		6,790			247,727		10,469
Total before netting adjustments				8,915					11,638
Netting adjustments - cash collateral posted by counterparties*				(6,070	)				(6,330	)
Total Swap assets			$	2,845				$	5,308
Included in swap liabilities:
Interest rate swaps with loan customers in a liability position	$	167,327	$	8,915		$	179,106	$	11,638
Counterparty positions with financial institutions in a liability position		—		—			—		—
Total before netting adjustments				8,915					11,638
Netting adjustments - cash collateral posted to counterparties**				—					—
Total Swap liabilities			$	8,915				$	11,638
*Cash collateral posted by counterparties represents the obligation to return cash collateral received from counterparties.
**Cash collateral posted to counterparties represents the right to reclaim cash collateral that was paid to counterparties.
Gross notional positions with customers	$	250,598				$	247,727
Gross notional positions with financial institution counterparties	$	250,598				$	247,727