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Financial Derivative Instruments (Tables)

9 Months Ended

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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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.

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