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Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of carrying value of hedged asset and cumulative fair value hedging adjustment

Schedule of carrying value of hedged asset and cumulative fair value hedging adjustment
		December 31, 2023
(dollars in thousands)		Carrying Amount				Hedged Liability
Fixed Rate Liability1		$	199,518			$	482

¹ These amounts included the amortized cost basis of closed portfolios of fixed rate loans used to designate hedging relationships in which the hedged item is the stated amount of the assets in the closed portfolio anticipated to be outstanding for the designated hedged period. As of December 31, 2023, the amortized cost basis of the closed portfolio used in this hedging relationship was $718.8 million, the cumulative basis adjustment associated with this hedging relationship was $511,000, and the amount of the designated hedged item was $200.0 million.

Schedule of outstanding financial derivative instruments

Schedule of outstanding financial derivative instruments
		December 31, 2023
								Fair Value
(dollars in thousands)			Notional			Balance Sheet Location			Asset/(Liability)
Derivatives designated as hedging instruments:
Fair value swap Fair value swap [Member]		$	200,000			Other liabilities		$	(482	)
Derivatives not designated as hedging instruments:
Mortgage loan interest rate lock commitmentsMortgage loan interest rate lock commitments [Member]			12,973			Other assets			159
MBS forward sales commitmentsMBS forward sales commitments [Member]			10,000			Other liabilities			(68	)
Total derivative financial instrumentsTotal derivative financial instruments [Member]		$	222,973					$	(391	)
			December 31, 2022
									Fair Value
(dollars in thousands)			Notional			Balance Sheet Location			Asset/(Liability)
Derivatives not designated as hedging instruments:
Mortgage loan interest rate lock commitments		$	6,793			Other assets		$	49
MBS forward sales commitments			5,750			Other assets			27
Total derivative financial instruments		$	12,543					$	76

Schedule of summarize the effect of fair value hedging relationship recognized in consolidated statement of income

Schedule of summarize the effect of fair value hedging relationship recognized in consolidated statement of income
(dollars in thousands)		Twelve months ended December 31, 2023
Gain (loss) on fair value hedging relationship:
Hedged liability			(482	)
Fair value derivative designated as hedging instrument			511
Total gain (loss) recognized in interest income on loans			29

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- References

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- Definition

Tabular disclosure for fair value hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C

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- Definition

Tabular disclosure of the notional amounts of outstanding derivative positions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-1A

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