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Interest Rate Derivatives - Cumulative Basis Adjustments for Fair Value Hedges (Details) - Interest Rate Derivatives [Member] - USD ($)
$ in Thousands
Jun. 30, 2022
Dec. 31, 2021
Available for Sale Securities [Member]    
Derivative [Line Items]    
Carrying Amount of the Hedged Assets [1] $ 69,123 $ 61,808
Cumulative Amount of Fair Value Hedging Adjustment Included in The Carrying Amount of the Hedged Assets [1] (5,920) (1,308)
Loans Receivable [Member]    
Derivative [Line Items]    
Carrying Amount of the Hedged Assets [2] 38,652 41,651
Cumulative Amount of Fair Value Hedging Adjustment Included in The Carrying Amount of the Hedged Assets [2] $ (1,143) $ (152)
[1] These amounts represent the amortized cost basis of specifically identified municipal securities designated as the underlying assets for the hedging relationship. The notional amount of the designated hedged item was $69.1 million and $61.8 million at June 30, 2022 and December 31, 2021, respectively. The fair value of the derivative resulted in a net asset position of $5.9 million and $1.3 million recorded by the Company in other assets at June 30, 2022 and December 31, 2021. The Company’s participation in the fair value hedge had an immaterial effect on recorded interest income at June 30, 2022 and December 31, 2021.
[2] These amounts include the amortized cost of a specific loan pool designated as the underlying asset for the hedging relationship in which the hedged item is the underlying asset's amortized cost (last layer) projected to be remaining at the end of the contractual term of the hedging instrument. The amount of the designated hedged item was $38.7 million and $41.7 million as of June 30, 2022 and December 31, 2021, respectively. At June 30, 2022, the fair value of the derivative resulted in a net asset position of $1.1 million, recorded by the Company in other assets. The Company’s participation in the fair value hedge had an immaterial effect on recorded interest income at June 30, 2022 and December 31, 2021.