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Derivatives and Hedging Activities | 6 Months Ended
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Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivatives and Hedging Activities | Derivatives and Hedging Activities Derivatives Not Designated as Hedging Instruments The Company has five risk participation agreements with financial institution counterparties for interest rate swaps related to loans in which it is a participant. The risk participation agreements provide credit protection to the financial institution should the borrower fail to perform on its interest rate derivative contract with the financial institution. Derivatives Designated as Hedging Instruments In October 2023, the Company entered into an interest rate swap contract that is designated as a fair value hedge to mitigate the risk of interest rate increases and the subsequent impact on the associated fixed rate mortgages. This contract matures on October 17, 2026, has a notional amount of $75.0 million and is benchmarked to SOFR. The Company expects the hedge to remain effective during the remaining term of the swap. The following table depicts the credit value and fair value adjustments recorded related to the notional amount of derivatives outstanding and risk participation agreements with other financial institutions. These adjustments are included in Accrued Interest Payable and Other Liabilities on the Company's Consolidated Statement of Financial Condition.
| June 30, 2025 |  | December 31, 2024
(Dollars in Thousands) |  |  |
Derivatives not Designated as Hedging Instruments |  |  |
Risk Participation Agreements: |  |  |
Credit Value Adjustment | $ | (89) |  |  | $ | (66) |
Notional Amount | 28,302 |  |  | 18,158 |
Derivatives Designated as Hedging Instruments |  |  |
Interest rate swaps: |  |  |
Fair Value Adjustment | (944) |  |  | (801) |
Notional Amount | 75,000 |  |  | 75,000 |

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