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Derivative Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of notional amount and fair value of the company’s interest rate swaps |
|  | September 30, 2022 |  |  | December 31, 2021 |
|  | Notional |  |  | Fair |  |  | Notional |  |  | Fair |
($ in thousands) |  | Amount |  |  | Value |  |  | Amount |  |  | Value |
Asset Derivatives |  |  |  |  |  |  |  |  |  |  |  |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps associated with loans |  | $ | 68,014 |  |  | $ | 5,799 |  |  | $ | 84,733 |  |  | $ | 3,655 |
IRLCs |  |  | - |  |  |  | - |  |  |  | 21,391 |  |  |  | 22 |
Forward contracts |  |  | 8,250 |  |  |  | 265 |  |  |  | - |  |  |  | - |
Total contracts |  | $ | 76,264 |  |  | $ | 6,064 |  |  | $ | 106,124 |  |  | $ | 3,677 |
Liability Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps associated with loans |  | $ | 68,014 |  |  | $ | (5,799 | ) |  | $ | 84,733 |  |  | $ | (3,655 | )
Forward contracts |  |  | - |  |  |  | - |  |  |  | 25,000 |  |  |  | (32 | )
IRLCs |  |  | 7,655 |  |  |  | (147 | ) |  |  | - |  |  |  | - |
Total contracts |  | $ | 75,669 |  |  | $ | (5,946 | ) |  | $ | 109,733 |  |  | $ | (3,687 | )
Schedule of consolidated statements of income for non-hedging derivative financial instruments |
|  |  |  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
($ in thousands) |  | Statement of income classification |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Interest rate swap contracts |  | Other income |  | $ | - |  |  | $ | - |  |  | $ | 3 |  |  | $ | 133 |
IRLCs |  | Gain on sale of mortgage loans & OMSR |  |  | (201 | ) |  |  | (239 | ) |  |  | (169 | ) |  |  | (397 | )
Forward contracts |  | Gain on sale of mortgage loans & OMSR |  |  | 309 |  |  |  | 393 |  |  |  | 297 |  |  |  | 550 |
Schedule of financial assets and derivative assets |
|  |  |  |  | Gross amounts |  |  | Net amounts of assets |  |  | Gross amounts not offset in the consolidated balance sheet |  |  |  |
($ in thousands) |  | Gross amounts of recognized assets |  |  | offset in the consolidated balance sheet |  |  | presented in the consolidated balance sheet |  |  | Financial instruments |  |  | Cash collateral received |  |  | Net amount |
September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 5,799 |  |  | $ | - |  |  | $ | 5,799 |  |  | $ | - |  |  | $ | 3,160 |  |  | $ | 2,639 |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 3,746 |  |  | $ | 91 |  |  | $ | 3,655 |  |  | $ | - |  |  | $ | - |  |  | $ | 3,655 |
Schedule of financial liabilities and derivative liabilities |
|  |  |  |  | Gross amounts |  |  | Net amounts of liabilities |  |  | Gross amounts not offset in the consolidated balance sheet |  |  |  |
($ in thousands) |  | Gross amounts of recognized liabilities |  |  | offset in the consolidated balance sheet |  |  | presented in the consolidated balance sheet |  |  | Financial instruments |  |  | Cash collateral pledged |  |  | Net amount |
September 30, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 5,799 |  |  | $ | - |  |  | $ | 5,799 |  |  | $ | - |  |  | $ | 1,165 |  |  | $ | 4,634 |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 3,746 |  |  | $ | 91 |  |  | $ | 3,655 |  |  | $ | - |  |  | $ | 6,906 |  |  | $ | (3,251 | )

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