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v3.24.1.1.u2

Note 6 - Derivatives (Tables) | 3 Months Ended
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Mar. 31, 2024
Notes Tables |
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] |
|  |  |  |  |  | Cumulative Amount of Fair Value |
Line item in the statement of financial |  |  |  |  |  | Hedging Adjustment Included in |
position in which the hedged Item is |  | Carrying Amount of the |  |  | the Carrying Amount of the |
included |  | Hedged Assets |  |  | Hedged Assets |
March 31, 2024 |  |  |  |  |  |  |  |
Investment securities (1) |  | $ | 55,560 |  |  | $ | 4,440 |
Total |  | $ | 55,560 |  |  | $ | 4,440 |
December 31, 2023 |  |  |  |  |  |  |  |
Investment securities (1) |  | $ | 56,785 |  |  | $ | 3,215 |
Total |  | $ | 56,785 |  |  | $ | 3,215 |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] |
|  | March 31, 2024 |
|  |  |  |  |  | Fair Value |
Cash flow hedges: |  | Notional |  |  | Asset |  |  | Liability |
Interest rate swaps - brokered deposits |  | $ | 190,000 |  |  | $ | 4,960 |  |  | $ | — |
Fair value hedges: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps - securities |  |  | 60,000 |  |  |  | 4,420 |  |  |  | — |
Non-hedging derivatives: |  |  |  |  |  |  |  |  |  |  |  |
Fallout adjusted interest rate lock commitments with customers |  |  | 29,238 |  |  |  | 251 |  |  |  | — |
Mandatory and best effort forward commitments with investors |  |  | 36,310 |  |  |  | — |  |  |  | 73 |
Forward TBA mortgage-backed securities |  |  | 38,000 |  |  |  | — |  |  |  | 78 |
Interest rate swaps - customer swap positions |  |  | 801 |  |  |  | — |  |  |  | 73 |
Interest rate swaps - dealer offsets to customer swap positions |  |  | 801 |  |  |  | 73 |  |  |  | — |
|  | December 31, 2023 |
|  |  |  |  |  | Fair Value |
Cash flow hedges: |  | Notional |  |  | Asset |  |  | Liability |
Interest rate swaps - brokered deposits |  | $ | 250,000 |  |  | $ | 3,233 |  |  | $ | 375 |
Fair value hedges: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps - securities |  |  | 60,000 |  |  |  | 3,198 |  |  |  | — |
Non-hedging derivatives: |  |  |  |  |  |  |  |  |  |  |  |
Fallout adjusted interest rate lock commitments with customers |  |  | 22,334 |  |  |  | 329 |  |  |  | — |
Mandatory and best effort forward commitments with investors |  |  | 10,070 |  |  |  | — |  |  |  | 188 |
Forward TBA mortgage-backed securities |  |  | 33,000 |  |  |  | — |  |  |  | 284 |
Interest rate swaps - customer swap positions |  |  | 801 |  |  |  | — |  |  |  | 63 |
Interest rate swaps - dealer offsets to customer swap positions |  |  | 801 |  |  |  | 64 |  |  |  | — |
Derivative Instruments, Gain (Loss) [Table Text Block] |
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
|  | Interest |  |  | Interest |  |  | Interest |  |  | Interest |
|  | Expense |  |  | Income |  |  | Expense |  |  | Income |
|  | Deposits |  |  | Securities |  |  | Deposits |  |  | Securities |
Total amounts presented on the Consolidated Statements of Income |  | $ | 12,882 |  |  | $ | 3,883 |  |  | $ | 6,624 |  |  | $ | 2,620 |
Net gains (losses) on fair value hedging relationships: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps - securities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Recognized on hedged items |  | $ | — |  |  | $ | (1,225 | ) |  | $ | — |  |  | $ | 1,495 |
Recognized on derivatives designated as hedging instruments |  |  | — |  |  |  | 1,225 |  |  |  | — |  |  |  | (1,495 | )
Net interest income recognized on cash flows of derivatives designated as hedging instruments |  |  | — |  |  |  | 418 |  |  |  | — |  |  |  | 293 |
Net income recognized on fair value hedges |  | $ | — |  |  | $ | 418 |  |  | $ | — |  |  | $ | 293 |
Net gain on cash flow hedging relationships: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps - brokered deposits and borrowings |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Realized gains (pre-tax) reclassified from AOCI into net income |  | $ | 1,722 |  |  | $ | — |  |  | $ | 907 |  |  | $ | — |
Net income recognized on cash flow hedges |  | $ | 1,722 |  |  | $ | — |  |  | $ | 907 |  |  | $ | — |
Offsetting Assets [Table Text Block] |
|  |  |  |  |  | Gross Amounts |  |  | Net Amounts of Assets |  |  | Gross Amounts Not Offset |
|  | Gross Amounts |  |  | Offset in the |  |  | Presented in the |  |  | in the Statement of Financial Position |
|  | of Recognized |  |  | Statement of |  |  | Statement of |  |  | Financial |  |  | Cash Collateral |  |  |  |  |
Offsetting of derivative assets |  | Assets |  |  | Financial Position |  |  | Financial Position |  |  | Instruments |  |  | Received |  |  | Net Amount |
At March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 9,628 |  |  | $ | 175 |  |  | $ | 9,453 |  |  | $ | — |  |  | $ | (1,070 | ) |  | $ | 8,383 |
At December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 6,648 |  |  | $ | 153 |  |  | $ | 6,495 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,495 |
Offsetting Liabilities [Table Text Block] |
|  |  |  | Gross Amounts |  | Net Amounts of |  | Gross Amounts Not Offset |
|  | Gross Amounts |  | Offset in the |  | Liabilities |  | in the Statement of Financial Position |
|  | of Recognized |  | Statement of |  | Presented in the Statement |  | Financial |  | Cash Collateral |  |  |
Offsetting of derivative liabilities |  | Liabilities |  | Financial Position |  | of Financial Position |  | Instruments |  | Posted |  | Net Amount |
At March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
At December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | (722 | ) | $ | (347 | ) | $ | (375 | ) | $ | — |  | $ | 270 |  | $ | (105 | )

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