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Derivative Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2024
Derivative Financial Instruments [Abstract]  
Schedule of Notional Amount and Fair Value of the Company’s Interest Rate Swaps The table below presents the notional amount and fair value of the Company’s interest rate swaps, IRLCs and forward contracts utilized as of March 31, 2024, and December 31, 2023.
   March 31, 2024   December 31, 2023 
   Notional   Fair   Notional   Fair 
($ in thousands)  Amount   Value   Amount   Value 
Asset Derivatives                
Derivatives not designated as hedging instruments            
Interest rate swaps associated with loans  $67,346   $4,545   $68,381   $3,638 
IRLCs   15,604    54    7,466    45 
Total contracts  $82,950   $4,599   $75,847   $3,683 
                     
Liability Derivatives                    
Derivatives not designated as hedging instruments                    
Interest rate swaps associated with loans  $67,346   $(4,545)  $68,381   $(3,638)
Forward contracts   19,000    (29)   10,750    (37)
Total contracts  $86,346   $(4,574)  $79,131   $(3,675)
Schedule of Consolidated Statements of Income for Non-Hedging Derivative Financial Instruments The following table presents the amounts included in the consolidated statements of income for non-hedging derivative financial instruments for the three months ended March 31, 2024, and 2023.
      Three Months Ended
March 31,
 
($ in thousands)  Statement of income classification  2024   2023 
Interest rate swap contracts  Other income  $-   $6 
IRLCs  Gain on sale of mortgage loans & OMSR   9    65 
Forward contracts  Gain on sale of mortgage loans & OMSR   8    (138)
Schedule of the Offsetting of Financial Assets and Derivative Assets The following table shows the offsetting of financial assets and derivative assets at March 31, 2024, and December 31, 2023.
   Gross
amounts of
   Gross 
amounts offset
in the
   Net amounts
of assets
presented
in the
   Gross amounts not offset in the consolidated balance sheet     
($ in thousands)  recognized
assets
   consolidated
balance sheet
   consolidated
balance sheet
   Financial
instruments
   Cash collateral
received
   Net amount 
March 31, 2024                        
Interest rate swaps  $   4,670   $    125   $4,545   $
                 -
   $3,660   $885 
                               
December 31, 2023                              
Interest rate swaps  $3,957   $319   $3,638   $
-
   $2,900   $738 

 

Schedule of the Offsetting of Financial Liabilities and Derivative Liabilities The following table shows the offsetting of financial liabilities and derivative liabilities at March 31, 2024, and December 31, 2023.
       Gross    Net amounts
of liabilities
             
   Gross    amounts offset    presented   Gross amounts not offset in the     
   amounts of    in the   in the    consolidated balance sheet     
   recognized   consolidated   consolidated   Financial   Cash collateral     
($ in thousands)  liabilities   balance sheet   balance sheet   instruments   pledged   Net amount 
March 31, 2024                        
Interest rate swaps  $4,670   $125   $4,545   $            -   $              -   $4,545 
                               
December 31, 2023                              
Interest rate swaps  $3,957   $319   $3,638   $
-
   $
-
   $3,638