XML 58 R49.htm IDEA: XBRL DOCUMENT

Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 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 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 December 31, 2024 and 2023.


		As of December 31, 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			$	69			$	30,000			$	(119	)
Total fair value hedges							69								(119	)
Cash flow hedges:
Interest rate swaps related to interest-bearing liabilities		$	40,000			$	609			$	—			$	—
Total cash flow hedges							609								—
Total derivatives designated as hedging instruments, net							678								(119	)
Derivatives not designated as hedging instruments:
Interest rate floors		$	50,000				18			$	—				—
Credit risk participation agreements		$	15,198				(54	)		$	—				—
Total derivatives not designated as hedging instruments, net						$	(36	)						$	—

(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 Consolidated Statement of Operations


		Location in the		Year Ended December 31,
		Consolidated Statements		2024				2023
		of Operations		(Dollars in Thousands)
Interest income		Interest and fees on loans		$	788			$	869
Interest expense		Interest on deposits			438				496
Interest expense		Interest on short-term borrowings			84				144
Non-interest income		Other non-interest income			144				-
Non-interest expense		Other non-interest expense			81				-
		Net increase to income before income taxes		$	1,535			$	1,509