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Derivative Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Schedule of Notional Amount and Fair Value of Derivative Instruments Included on Company's Consolidated Balance Sheets on a net Basis | The following table reflects the notional amount and fair value of derivative instruments included on the Company’s Consolidated Balance Sheets on a net basis.
|  | As of March 31, 2021 |  |  | As of December 31, 2020 |
|  | Notional |  |  | Estimated Fair Value |  |  | Notional |  |  | Estimated Fair Value |
|  | Amount |  |  | Gain (Loss) (1) |  |  | Amount |  |  | Gain (Loss) (1) |
|  | (Dollars in Thousands) |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps related to fixed rate commercial real estate loans |  | $ | 20,000 |  |  | $ | (574 | ) |  | $ | 20,000 |  |  | $ | (837 | )
Total fair value hedges |  |  |  |  |  |  | (574 | ) |  |  |  |  |  |  | (837 | )
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps related to variable-rate money market deposit accounts |  |  | 20,000 |  |  |  | (832 | ) |  |  | 20,000 |  |  |  | (1,337 | )
Interest rate swaps related to FHLB advances |  |  | 10,000 |  |  |  | (295 | ) |  |  | 10,000 |  |  |  | (436 | )
Total cash flow hedges |  |  |  |  |  |  | (1,127 | ) |  |  |  |  |  |  | (1,773 | )
Total hedges designated as hedging instruments, net |  |  |  |  |  | $ | (1,701 | ) |  |  |  |  |  | $ | (2,610 | )
(1) | Derivatives in a gain position are recorded as other assets and derivatives in a loss position are recorded as other liabilities on the consolidated balance sheets.
Schedule of Cumulative Basis Adjustments for Fair Value Hedges | The following amounts were recorded on the balance sheet related to cumulative basis adjustments for fair value hedges:
Location in the Condensed Consolidated Balance Sheet in Which the Hedged |  | Carrying Amount of the Hedged Assets |  |  | Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets |
Item is Included |  | March 31, 2021 |
|  | (Dollars in Thousands) |
Loans and leases, net of allowance for loan and lease losses (1) |  | $ | 45,907 |  |  | $ | (574 | )
(1) | These amounts include the amortized cost basis of closed portfolios used to designate hedging relationships in which the hedged item is the last layer expected to be remaining at the end of the hedging relationship. As of March 31, 2021, the amortized cost basis of the closed portfolios used in these hedging relationships was $45.3 million, the cumulative basis adjustments associated with these hedging relationships was $0.6 million, and the amounts of the designated hedged items were $20 million.
Schedule of Hedging Derivative Instruments' Effect on Company's Consolidated Statement of Income | The following table presents the effect of hedging derivative instruments on the Company’s Consolidated Statements of Income.
|  | Location in the Condensed |  | Three Months Ended |
|  | Consolidated Statements of Operations |  | March 31, 2021 |  |  | March 31, 2020 |
|  |  |  | (Dollars in Thousands) |
Interest income |  | Interest and fees on loans |  | $ | (61 | ) |  | $ | 9 |
Interest expense |  | Interest on deposits |  |  | 31 |  |  |  | (6 | )
Interest expense |  | Interest on short-term borrowings |  |  | 81 |  |  |  | 11 |
|  | Net interest income (expense) |  | $ | (173 | ) |  | $ | 4 |

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- Definition Tabular disclosure of the location, nominal amount and fair value amounts of derivative instruments (and non-derivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References No definition available. + Details
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