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v3.23.1

Derivative Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of notional amount and fair value of interest rate swaps |
|  | March 31, 2023 |  |  | December 31, 2022 |
|  | Notional |  |  | Fair |  |  | Notional |  |  | Fair |
($ in thousands) |  | Amount |  |  | Value |  |  | Amount |  |  | Value |
Asset Derivatives |  |  |  |  |  |  |  |  |  |  |  |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps associated with loans |  | $ | 64,462 |  |  | $ | 4,404 |  |  | $ | 66,477 |  |  | $ | 5,538 |
IRLCs |  |  | 10,516 |  |  |  | 45 |  |  |  | - |  |  |  | - |
Forward contracts |  |  | - |  |  |  | - |  |  |  | 5,500 |  |  |  | 26 |
Total contracts |  | $ | 74,978 |  |  | $ | 4,449 |  |  | $ | 71,977 |  |  | $ | 5,564 |
Liability Derivatives |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps associated with loans |  | $ | 64,462 |  |  | $ | (4,404 | ) |  | $ | 66,477 |  |  | $ | (5,538 | )
Forward contracts |  |  | 15,500 |  |  |  | (112 | ) |  |  | - |  |  |  | - |
IRLCs |  |  | - |  |  |  | - |  |  |  | 3,268 |  |  |  | (20 | )
Total contracts |  | $ | 79,962 |  |  | $ | (4,516 | ) |  | $ | 69,745 |  |  | $ | (5,558 | )
Schedule of consolidated statements of income for non-hedging derivative financial instruments |
|  | Three Months Ended March 31, |
($ in thousands) |  | Statement of income classification |  | 2023 |  |  | 2022 |
Interest rate swap contracts |  | Other income |  | $ | 6 |  |  | $ | - |
IRLCs |  | Gain on sale of mortgage loans & OMSR |  |  | 65 |  |  |  | (177 | )
Forward contracts |  | Gain on sale of mortgage loans & OMSR |  |  | (138 | ) |  |  | 313 |
Schedule of financial assets and derivative assets |
($ in thousands) |  | Gross amounts |  |  | Gross amounts offset in the |  |  | Net amounts of assets presented in the |  |  | Gross amounts not offset in the consolidated balance sheet |  |  |  |
|  | of recognized assets |  |  | consolidated balance sheet |  |  | consolidated balance sheet |  |  | Financial instruments |  |  | Cash collateral received |  |  | Net amount |
March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 4,424 |  |  | $ | 20 |  |  | $ | 4,404 |  |  | $ | - |  |  | $ | 3,860 |  |  | $ | 544 |
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 5,540 |  |  | $ | 2 |  |  | $ | 5,538 |  |  | $ | - |  |  | $ | 4,480 |  |  | $ | 1,058 |
Schedule of financial liabilities and derivative liabilities |
($ in thousands) |  | Gross amounts |  |  | Gross amounts offset in the |  |  | Net amounts of liabilities presented in the |  |  | Gross amounts not offset in the consolidated balance sheet |  |  |  |
|  | of recognized liabilities |  |  | consolidated balance sheet |  |  | consolidated balance sheet |  |  | Financial instruments |  |  | Cash collateral pledged |  |  | Net amount |
March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 4,424 |  |  | $ | 20 |  |  | $ | 4,404 |  |  | $ | - |  |  | $ | - |  |  | $ | 4,404 |
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 5,540 |  |  | $ | 2 |  |  | $ | 5,538 |  |  | $ | - |  |  | $ | - |  |  | $ | 5,538 |

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