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Interest Rate Swaps (Tables) | 3 Months Ended
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Mar. 31, 2024
Interest Rate Swaps [Abstract] |
Summary of Derivatives |
(Amounts in thousands)
|  | Notional Amount |  |  |  |  |  | Fair Value
|  |  | March 31, 2024 |  |  | December 31, 2023 |  | Interest Rate Paid |  | Interest Rate Received |  |  | March 31, 2024 |  |  | December 31, 2023
Customer interest rate swap |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Maturing November, 2030 | $ | 6,051 |  | $ | 6,145 | Term SOFR + Margin | Fixed |  | $ | 814 |  | $ | 746
Maturing December, 2030 |  | 3,965 |  |  | 4,032 | Term SOFR + Margin | Fixed |  |  | 522 |  |  | 479
Total |  | $ | 10,016 |  | $ | 10,177 |  |  |  |  |  | $ | 1,336 |  | $ | 1,225
Third party interest rate swap |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Maturing November, 2030 | $ | 6,051 |  | $ | 6,145 |  | Fixed | Term SOFR + Margin | $ | 814 |  | $ | 746
Maturing December, 2030 |  | 3,965 |  |  | 4,032 |  | Fixed | Term SOFR + Margin |  | 522 |  |  | 479
Total |  | $ | 10,016 |  | $ | 10,177 |  |  |  |  |  | $ | 1,336 |  | $ | 1,225
Fair Value of Derivative Instruments |
|  | (Amounts in thousands)
|  | Assets |  | Liabilities
|  | Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value
March 31, 2024 |  |  |  |  |  |  |  |
Interest rate derivatives |  | Other assets | $ | 1,336 |  | Other liabilities | $ | 1,336
December 31, 2023 |  |  |  |  |  |  |  |
Interest rate derivatives |  | Other assets |  | 1,225 |  | Other liabilities |  | 1,225

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- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
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