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Derivatives and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Balance Sheet Related to Cumulative Basis Adjustment for Fair Value Hedges

As of June 30, 2025 and December 31, 2024, the following amounts were recorded on the balance sheet related to cumulative basis adjustment for fair value hedges:


Location in Consolidated Balance Sheets		Carrying Amount of Hedged Assets/(Liabilities)								Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities)
(Dollars in thousands)		June 30, 2025				December 31, 2024				June 30, 2025				December 31, 2024
Total loans		$	25,060			$	24,957			$	60			$	(43	)

Summary of Fair Values of Derivative Financial Instruments Classification on Consolidated Balance Sheets

The following table presents the fair value of the Company’s derivative financial instruments as well as their classification on the consolidated balance sheets:


	Derivative Assets												Derivative Liabilities
	Notional Amount				Location		Fair Value						Notional Amount				Location		Fair Value
(Dollars in thousands)
June 30, 2025
Derivatives designated as hedging instruments:
Interest rate contracts - fair value hedge	$	25,000			Other assets		$	—					$	—			Other liabilities		$	60
Interest rate contracts - cash flow hedge		10,000			Other assets			—						—			Other liabilities			55
Total derivatives designated as hedging instruments	$	35,000					$	—					$	—					$	115

Derivatives not designated as hedging instruments:
Customer loan swaps	$	4,559			Other assets		$	64		$	4		$	4,559			Other liabilities		$	64

December 31, 2024
Derivatives designated as hedging instruments:
Interest rate contracts - fair value hedge	$	25,000			Other assets		$	43					$	—					$	—
Interest rate contracts - cash flow hedge		10,000			Other assets			—						—			Other liabilities			43
Total derivatives designated as hedging instruments	$	35,000					$	43					$	—					$	43

Derivatives not designated as hedging instruments:
Customer loan swaps	$	4,630			Other assets		$	71					$	4,630			Other liabilities		$	71

Summary of Derivative Positions Offset in Consolidated Balance Sheets

The following tables present the information about derivative positions that are eligible for offset in the consolidated balance sheets as of June 30, 2025 and December 31, 2024:


														Gross Amounts Not Offset
(Dollars in thousands)		Gross Amounts Recognized				Gross Amounts Offset				Net Amounts Recognized				Financial Instruments Pledged (Received)				Cash Collateral Pledged (Received) (1)				Net Amount
June 30, 2025
Derivative Assets:
Interest rate contract - fair value hedge(2)		$	—			$	—			$	—			$	—			$	—			$	—
Interest rate contract - cash flow hedge(2)			—				—				—				—				—				—
Customer loan swap - dealer bank(3)			64				—				64				—				64				—
Total		$	64			$	—			$	64			$	—			$	64			$	—

Derivative Liabilities:
Interest rate contract - fair value hedge(2)		$	60			$	—			$	60			$	—			$	60			$	—
Interest rate contract - cash flow hedge(2)			55				—				55				—				55				—
Customer loan swap - dealer bank(3)			64				—				64				—				—				64
Total		$	179			$	—			$	179			$	—			$	115			$	64
December 31, 2024
Derivative Assets:
Interest rate contract - fair value hedge(2)		$	43			$	—			$	43			$	—			$	43			$	—
Interest rate contract - cash flow hedge(2)			—				—				—				—				—				—
Customer loan swap - dealer bank(3)			71				—				71				—				71				—
Total		$	114			$	—			$	114			$	—			$	114			$	—

Derivative Liabilities:
Interest rate contract - fair value hedge(2)		$	—			$	—			$	—			$	—			$	—			$	—
Interest rate contract - cash flow hedge(2)			43				—				43				—				43				—
Customer loan swap - dealer bank(3)			71				—				71				—				—				71
Total		$	114			$	—			$	114			$	—			$	43			$	71

(1) The amount presented was the lesser of the amount pledged (received) or the net amount presented in the consolidated balance sheets.

(2) Interest rate swap contracts were completed with the same dealer bank. The Company maintains a master netting arrangement with the counterparty and settles collateral on a net basis for all contracts.

(3) The Company manages its net exposure on its commercial customer loan swaps by obtaining collateral as part of the normal loan policy and underwriting practices. The Company does not post collateral to its commercial customers as part of its contract.