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Derivative Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2024
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 table below reflects the notional amount and fair value of active derivative instruments included on the Company’s consolidated balance sheets on a net basis as of September 30, 2024 and December 31, 2023.
|  | As of September 30, 2024 |  |  | As of December 31, 2023 |
|  |  |  |  | Estimated |  |  |  |  |  | Estimated |
|  |  |  |  | Fair Value |  |  |  |  |  | Fair Value |
|  | Notional Amount |  |  | Gain (Loss) (1) |  |  | Notional Amount |  |  | Gain (Loss) (1) |
|  | (Dollars in Thousands) |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Fair value hedges: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps related to fixed rate indirect consumer loans |  | $ | 30,000 |  |  | $ | (283 | ) |  | $ | 30,000 |  |  | $ | (119 | )
Total fair value hedges |  |  |  |  |  | (283 | ) |  |  |  |  |  | (119 | )
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps related to interest-bearing liabilities |  | $ | 40,000 |  |  | $ | (264 | ) |  | $ | — |  |  |  | — |
Total cash flow hedges |  |  |  |  |  | (264 | ) |  |  |  |  |  | — |
Total derivatives designated as hedging instruments, net |  |  |  |  |  | (547 | ) |  |  |  |  |  | (119 | )
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate floors |  | $ | 50,000 |  |  |  | 109 |  |  | $ | — |  |  |  | — |
Credit risk participation agreement |  | $ | 6,998 |  |  |  | (4 | ) |  | $ | — |  |  |  | — |
Total derivatives not designated as hedging instruments, net |  |  |  |  | $ | 105 |  |  |  |  |  | $ | — |
(1) Derivatives in a gain position are recorded as other assets and derivatives in a loss position are recorded as other liabilities in the consolidated balance sheets.
Schedule of Hedging Derivative Instruments' Effect on Company's Interim Condensed Consolidated Statement of Operations | The effects, which include the reclassification of unrealized gains on terminated swap contracts, are presented as either an increase or decrease to income before income taxes in the relevant caption of the Company’s interim condensed consolidated statements of operations.
Location in the Condensed |  | Three Months Ended |  |  | Nine Months Ended |
Consolidated Statements of Operations |  | September 30, 2024 |  |  | September 30, 2023 |  |  | September 30, 2024 |  |  | September 30, 2023 |
|  |  |  | (Dollars in Thousands) |  |  | (Dollars in Thousands) |
Interest income |  | Interest and fees on loans |  | $ | 209 |  |  | $ | 258 |  |  | $ | 729 |  |  | $ | 603 |
Interest expense |  | Interest on deposits |  |  | 93 |  |  |  | 120 |  |  |  | 333 |  |  |  | 376 |
Interest expense |  | Interest on borrowings |  |  | 12 |  |  |  | 36 |  |  |  | 84 |  |  |  | 108 |
Non-interest income |  | Other non-interest income |  |  | 27 |  |  |  | — |  |  |  | 27 |  |  |  | — |
Non-interest expense |  | Other non-interest expense |  |  | 72 |  |  |  | — |  |  |  | 10 |  |  |  | — |
|  | Net increase to income before income taxes |  | $ | 413 |  |  | $ | 414 |  |  | $ | 1,183 |  |  | $ | 1,087 |

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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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