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Interest Rate Swaps (Tables)

9 Months Ended

Sep. 30, 2023

Interest Rate Swaps [Abstract]

Summary of Derivatives

(Amounts in thousands)
		Notional Amount										Fair Value
			September 30, 2023			December 31, 2022		Interest Rate Paid		Interest Rate Received			September 30, 2023			December 31, 2022
Customer interest rate swap
Maturing November, 2030		$	6,238		$	6,513	Term SOFR + Margin			Fixed		$	993		$	889
Maturing December, 2030			4,100			4,297	Term SOFR + Margin			Fixed			638			575
Total		$	10,338		$	10,810						$	1,631		$	1,464
Third party interest rate swap
Maturing November, 2030		$	6,238		$	6,513		Fixed	Term SOFR + Margin			$	993		$	889
Maturing December, 2030			4,100			4,297		Fixed	Term SOFR + Margin				638			575
Total		$	10,338		$	10,810						$	1,631		$	1,464

Fair Value of Derivative Instruments

		(Amounts in thousands)
		Assets				Liabilities
		Balance Sheet Location		Fair Value		Balance Sheet Location		Fair Value
September 30, 2023
Interest rate derivatives		Other assets	$	1,631		Other liabilities	$	1,631
December 31, 2022
Interest rate derivatives		Other assets		1,464		Other liabilities		1,464

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- References

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Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as 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

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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A

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- Definition

Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments.

+ References

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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C

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