Financial Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The details of the interest rate swap agreements are as follows:


						September 30, 2020				December 31, 2019				September 30, 2019
Effective Date	Maturity Date	Variable Index Received	Fixed Rate Paid		Presentation on Consolidated Balance Sheet	Notional Amount		Fair Value		Notional Amount		Fair Value		Notional Amount		Fair Value
06/05/2018	12/05/2019	1-Month USD LIBOR	2.466	%	Other Liabilities	$	—	$	—	$	—	$	—	$	25,000,000	$	(23,000)
06/27/2016	06/27/2021	1-Month USD LIBOR	0.893	%	Other (Liabilities) Assets	20,000,000		(112,000)		20,000,000		199,000		20,000,000		214,000
06/28/2016	06/28/2021	1-Month USD LIBOR	0.940	%	Other (Liabilities) Assets	30,000,000		(179,000)		30,000,000		278,000		30,000,000		296,000
06/05/2018	06/05/2020	1-Month USD LIBOR	2.547	%	Other Liabilities	—		—		25,000,000		(96,000)		25,000,000		(140,000)
06/05/2018	12/05/2020	1-Month USD LIBOR	2.603	%	Other Liabilities	—		—		25,000,000		(234,000)		25,000,000		(300,000)
12/05/2019	12/05/2022	3-Month USD LIBOR	1.779	%	Other Liabilities	—		—		25,000,000		(98,000)		25,000,000		(217,000)
08/02/2019	08/02/2024	1-Month USD LIBOR	1.590	%	Other Liabilities	12,500,000		(692,000)		12,500,000		(11,000)		12,500,000		(133,000)
08/05/2019	08/05/2024	1-Month USD LIBOR	1.420	%	Other (Liabilities) Assets	12,500,000		(611,000)		12,500,000		85,000		12,500,000		(32,000)
02/12/2020	02/12/2023	3-Month USD LIBOR	1.486	%	Other Liabilities	25,000,000		(762,000)		—		—		—		—
02/12/2020	02/12/2024	3-Month USD LIBOR	1.477	%	Other Liabilities	25,000,000		(1,044,000)		—		—		—		—
06/28/2021	06/28/2026	1-Month USD LIBOR	1.158	%	Other Liabilities	50,000,000		(2,162,000)		—		—		—		—
03/13/2020	03/13/2025	3-Month USD LIBOR	0.855	%	Other Liabilities	25,000,000		(621,000)		—		—		—		—
03/13/2020	03/13/2030	3-Month USD LIBOR	1.029	%	Other Liabilities	20,000,000		(690,000)		—		—		—		—
04/07/2020	04/07/2023	3-Month USD Libor	0.599	%	Other Liabilities	20,000,000		(194,000)		—		—		—		—
04/07/2020	04/07/2024	3-Month USD Libor	0.643	%	Other Liabilities	20,000,000		(275,000)		—		—		—		—
						$	260,000,000	$	(7,342,000)	$	150,000,000	$	123,000	$	175,000,000	$	(335,000)

At September 30, 2020, there were four customer loan swap arrangements in place, detailed below:


		September 30, 2020					December 31, 2019					September 30, 2019
	Presentation on Consolidated Balance Sheet	Number of Positions	Notional Amount		Fair Value		Number of Positions	Notional Amount		Fair Value		Number of Positions	Notional Amount		Fair Value
Pay Fixed, Receive Variable	Other Liabilities	4	$	28,541,000	$	(3,311,000)	2	$	16,374,000	$	(1,205,000)	1	$	12,914,000	$	(1,643,000)
Receive Fixed, Pay Variable	Other Assets	4	28,541,000		3,311,000		2	16,374,000		1,205,000		1	12,914,000		1,643,000


Total		8	$	57,082,000	$	—	4	$	32,748,000	$	—	2	$	25,828,000	$	—

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5580258-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41620-113959

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579245-113959

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41638-113959

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41678-113959

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41641-113959

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579240-113959

+ Details