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Derivatives | 3 Months Ended
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Mar. 31, 2022
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Derivatives | NOTE 15. Derivatives The Company uses derivative financial instruments primarily to manage risks to the Company associated with changing interest rates, and to assist customers with their risk management objectives. Derivative contracts that are not designated in a qualifying hedging relationships include customer accommodation loan swaps. The Company enters into interest rate swaps with certain qualifying commercial loan customers to meet their interest rate risk management needs. The Bank simultaneously enters into interest rate swaps with dealer counterparties, with identical notional amounts and offsetting terms. The net result of these interest rate swaps is that the customer pays a fixed rate of interest and the Company receives a floating rate. These back-to-back loan swaps are derivative financial instruments and are reported at fair value in “other assets” and “other liabilities” in the Consolidated Balance Sheets. Changes in the fair value of loan swaps are recorded in other noninterest income and sum to zero because of the offsetting terms of swaps with borrowers and swaps with dealer counterparties. The following table summarize key elements of the Company's derivative instruments at March 31, 2022 and December 31, 2021.
|  | March 31, 2022 |
|  | Notional Amount |  |  | Assets |  |  | Liabilities |
|  | (in thousands) |
Customer-related interest rate swap contracts: |  |  |  |  |  |  |  |  |  |  |  |
Matched interest rate swaps with borrower |  | $ | 4,133 |  |  | $ | 110 |  |  | $ | — |
Matched interest rate swaps with counterparty |  |  | 4,133 |  |  |  | — |  |  |  | 110 |
|  | December 31, 2021 |
|  | Notional Amount |  |  | Assets |  |  | Liabilities |
|  | (in thousands) |
Customer-related interest rate swap contracts: |  |  |  |  |  |  |  |  |  |  |  |
Matched interest rate swaps with borrower |  | $ | 2,391 |  |  | $ | 58 |  |  | $ | — |
Matched interest rate swaps with counterparty |  |  | 2,391 |  |  |  | — |  |  |  | 58 |

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 5 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123477628&loc=d3e90205-114008 + Details
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