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Interest Rate Swaps (Tables)

3 Months Ended

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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- References

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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

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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

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

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