XML 113 R26.htm IDEA: XBRL DOCUMENT v3.25.3
Derivative Financial Instruments and Hedging Activities (Tables)
 9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Information on Derivatives
Information on our derivatives follows:
Asset derivativesLiability derivatives
(in thousands)September 30,
2025		December 31, 2024September 30,
2025		December 31, 2024
Loans receivable:
Interest rate contracts - notional amount$5,213 $7,654 $1,709 $— 
Interest rate contracts - fair value1
$156 $333 $12 $— 
1 Refer to Note 3, Fair Value of Assets and Liabilities, for valuation methodology.
The following table presents the carrying amount and associated cumulative basis adjustment related to the application of fair value hedge accounting that is included in the carrying amount of hedged assets as of September 30, 2025 and December 31, 2024.
Carrying Amounts of Hedged Assets
Cumulative Amounts of Fair Value Hedging Adjustments Included in the Carrying Amounts of the Hedged Assets
(in thousands)September 30, 2025December 31, 2024September 30, 2025December 31, 2024
Loans receivable 1
$6,690 $7,215 $(196)$(398)
1 Carrying value equals the amortized cost basis of the loans underlying the hedge relationship, which is the loan balance net of deferred loan origination fees and cost and the fair value hedge adjustment. Amortized cost excludes accrued interest, which was not material.
Schedule of Interest Income
The following table presents the pretax net gains recognized in interest income related to our fair value hedges for the years presented.
Three months endedNine months ended
(in thousands)September 30, 2025September 30, 2024September 30, 2025September 30, 2024
Interest on investment securities 1
Increase in fair value of interest rate swaps hedging available-for-sale securities$— $(1,584)$— $(85)
Hedged interest earned— 203 — 615 
Decrease in carrying value included in the hedged available-for-sale securities
— 1,584 — 85 
Net gain recognized in interest income on investment securities
$— $203 $— $615 
Interest and fees on loans 1
Decrease (increase) in fair value of interest rate swaps hedging loans receivable
$(23)$(253)$(189)$(126)
Hedged interest earned29 53 89 161 
Increase (decrease) in carrying value included in the hedged loans
27 257 202 140 
Decrease in value of yield maintenance agreement(2)(2)(6)(6)
Net gain recognized in interest income on loans$31 $55 $96 $169 
1 Represents the income line item in the statement of comprehensive income in which the effects of fair value hedges are recorded.
Schedule of Offsetting Assets and Liabilities Information on financial instruments that are eligible for offset in the consolidated statements of condition follows:
Offsetting of Financial Assets and Derivative Assets
Gross AmountsNet Amounts ofGross Amounts Not Offset in
Gross AmountsOffset in theAssets Presentedthe Statements of Condition
of RecognizedStatements ofin the StatementsFinancialCash Collateral
(in thousands)
Assets1
Condition
of Condition1
InstrumentsReceivedNet Amount
September 30, 2025
Derivatives by Counterparty:
Counterparty
$156 $— $156 $— $— $156 
Total$156 $— $156 $— $— $156 
December 31, 2024
Derivatives by Counterparty:
Counterparty$333 $— $333 $— $— $333 
Total$333 $— $333 $— $— $333 
Offsetting of Financial Liabilities and Derivative Liabilities
Gross AmountsNet Amounts ofGross Amounts Not Offset in
Gross AmountsOffset in theLiabilities Presentedthe Statements of Condition
of RecognizedStatements ofin the StatementsFinancialCash Collateral
(in thousands)
Liabilities1
Condition
of Condition1
Instruments
Pledged
Net Amount
September 30, 2025
   Counterparty
12 — 12 (12)— 
Total$12 $— $12 $(12)$— $— 
December 31, 2024
   Counterparty
— — — — — — 
Total$— $— $— $— $— $— 
1 Amounts exclude accrued interest on swaps.