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Financial Derivative Instruments (Tables) | 9 Months Ended
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Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | The details of the Bank's swap agreements are as follows:
|  |  |  |  | September 30, 2023 | December 31, 2022 | September 30, 2022
Effective Date | Maturity Date | Variable Index Received | Fixed Rate Paid | Presentation on Consolidated Balance Sheets | Notional Amount | Fair Value | Notional Amount | Fair Value | Notional Amount | Fair Value
Cash Flow Hedges
04/27/2022 | 10/27/2023 | USD-SOFR-COMPOUND | 2.498% | Other Assets | $ | 10,000,000 |  | $ | 20,000 |  | $ | 10,000,000 |  | $ | 187,000 |  | $ | 10,000,000 |  | $ | 179,000 |
04/27/2022 | 01/27/2024 | USD-SOFR-COMPOUND | 2.576% | Other Assets | 10,000,000 |  | 92,000 |  | 10,000,000 |  | 233,000 |  | 10,000,000 |  | 212,000 |
04/27/2022 | 04/27/2024 | USD-SOFR-COMPOUND | 2.619% | Other Assets | 10,000,000 |  | 159,000 |  | 10,000,000 |  | 269,000 |  | 10,000,000 |  | 242,000 |
01/10/2023 | 01/01/2026 | USD-SOFR-OIS COMPOUND | 3.836% | Other Assets | 75,000,000 |  | 1,513,000 |  | — |  | — |  | — |  | — |
|  |  |  |  | $ | 105,000,000 |  | $ | 1,784,000 |  | $ | 30,000,000 |  | $ | 689,000 |  | $ | 30,000,000 |  | $ | 633,000 |
Fair Value Hedges
03/08/2023 | 03/01/2026 | USD-SOFR-OIS COMPOUND | 4.712% | Other Assets | $ | 40,000,000 |  | $ | 63,000 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
03/08/2023 | 03/01/2027 | USD-SOFR-OIS COMPOUND | 4.402% | Other Assets | 30,000,000 |  | 120,000 |  | — |  | — |  | — |  | — |
03/08/2023 | 03/01/2028 | USD-SOFR-OIS COMPOUND | 4.189% | Other Assets | 30,000,000 |  | 250,000 |  | — |  | — |  | — |  | — |
07/12/2023 | 08/01/2025 | USD-SOFR-OIS COMPOUND | 4.703% | Other Assets | 50,000,000 |  | 272,000 |  | — |  | — |  | — |  | — |
|  |  |  |  | $ | 150,000,000 |  | $ | 705,000 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Total swap agreements | $ | 255,000,000 |  | $ | 2,489,000 |  | $ | 30,000,000 |  | $ | 689,000 |  | $ | 30,000,000 |  | $ | 633,000 |
At September 30, 2023 and 2022, and December 31, 2022, there were six customer loan swap arrangements in place, detailed below:
|  | September 30, 2023 | December 31, 2022 | September 30, 2022
| 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 Assets | 6 | $ | 36,572,000 |  | $ | 6,031,000 |  | 6 | $ | 37,411,000 |  | $ | 4,910,000 |  | 6 |  | $ | 38,628,000 |  | $ | 5,365,000 |
|  | 6 | 36,572,000 |  | 6,031,000 |  | 6 | 37,411,000 |  | 4,910,000 |  | 6 |  | 38,628,000 |  | 5,365,000 |
Receive Fixed, Pay Variable | Other Liabilities | 6 | 36,572,000 |  | (6,031,000) |  | 6 | 37,411,000 |  | (4,910,000) |  | 6 |  | 38,628,000 |  | (5,365,000) |
|  | 6 | 36,572,000 |  | (6,031,000) |  | 6 | 37,411,000 |  | (4,910,000) |  | 6 |  | 38,628,000 |  | (5,365,000) |
Total |  | 12 | $ | 73,144,000 |  | $ | — |  | 12 | $ | 74,822,000 |  | $ | — |  | 12 |  | $ | 77,256,000 |  | $ | — |

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