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Mortgage Banking Derivatives (Tables) | 9 Months Ended
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Sep. 30, 2024
Mortgage Banking [Abstract] |
Schedule of net gains (losses) relating to derivative instruments | The net gains (losses) relating to these free-standing derivative instruments used for risk management are summarized below:
|  |  |  | For the nine months ended September 30, |
|  | Revenue Classification |  | 2024 |  |  | 2023 |
IRLs |  | Gain (Loss) on sale of mortgage loans |  | $ | (39 | ) |  | $ | 167 |
Forwards |  | Hedging activity, net |  |  | (581 | ) |  |  | 369 |
Total |  |  |  | $ | (620 | ) |  | $ | 536 |
Schedule of mortgage banking derivatives included in Balance Sheets | The following table reflects the amount and market value of mortgage banking derivatives included in the Balance Sheets:
|  | September 30, 2024 |  |  | December 31, 2023 |
|  | Notional |  |  | Fair |  |  | Notional |  |  | Fair |
|  | Amount |  |  | Value |  |  | Amount |  |  | Value |
IRLs |  | $ | 17,102 |  |  | $ | 442 |  |  | $ | 28,013 |  |  | $ | 481 |
Forwards |  | $ | 30,500 |  |  | $ | (114 | ) |  | $ | 23,500 |  |  | $ | (297 | )
Total |  | $ | 47,602 |  |  | $ | 328 |  |  | $ | 51,513 |  |  | $ | 184 |

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: 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 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging 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 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
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