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Derivatives (Tables)

9 Months Ended

Sep. 30, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summarizes the effect of the fair value hedging relationship recognized in the consolidated statements of income

The following table summarizes the effect of the fair value hedging relationship recognized in the Consolidated Statements of Income for the three and nine months ended September 30, 2025.


		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2025				2024				2025				2024
		(in thousands)
Hedged asset		$	41			$	61			$	124			$	61
Fair value derivative designated as hedging instrument			8				7				13				7
Total gain recognized in the consolidated statement of income within interest and fees on loans		$	49			$	68			$	137			$	68

Summary the carrying value of the portfolio layer method hedged assets and cumulative fair value hedging adjustment

The following table represents the carrying value of the portfolio layer method hedged asset and the cumulative fair value hedging adjustment included in the carrying value of the hedged asset as of September 30, 2025 and December 31, 2024.


		September 30, 2025								December 31, 2024
		Carrying Amount of Hedged Asset				Cumulative Amount of Fair Value Adjustment				Carrying Amount of Hedged Asset				Cumulative Amount of Fair Value Adjustment
		(in thousands)
Loans receivable (1)		$	35,092			$	92			$	34,916			$	(84	)

(1) These amounts include the amortized cost basis of closed portfolios of fixed rate loans used to designate hedging relationships in which the hedged item is the stated amount of assets in the closed portfolio anticipated to be outstanding for the hedged period. As of September 30, 2025, the amortized cost basis of the closed portfolio used in this hedging relationship was $495.7 million and the cumulative basis adjustment associated with this hedging relationship was $92 thousand. At September 30, 2025, the amount of the designated hedged item was $35.0 million.

Summarize Key Elements of Derivative Instruments

The following tables summarize key elements of the Company's derivative instruments at September 30, 2025 and December 31, 2024.


		September 30, 2025
		Notional Amount				Assets				Liabilities
		(in thousands)
Derivatives designated as hedging instruments:
Fair value swap		$	35,000			$	—			$	69

Derivatives not designated as hedging instruments:
Customer-related interest rate swap contracts:
Matched interest rate swaps with borrower		$	44,046			$	636			$	491
Matched interest rate swaps with counterparty			44,046				491				636

		December 31, 2024
		Notional Amount				Assets				Liabilities
		(in thousands)
Derivatives designated as hedging instruments:
Fair value swap		$	35,000			$	93			$	—

Derivatives not designated as hedging instruments:
Customer-related interest rate swap contracts:
Matched interest rate swaps with borrower		$	44,203			$	276			$	1,190
Matched interest rate swaps with counterparty			44,203				1,190				276