Derivatives (Tables)

9 Months Ended

Sep. 30, 2019

A summary of the Company's fair value hedge relationships for the periods presented are as follows (in thousands):




Liability derivatives	Balance Sheet Location	Weighted Average Remaining Maturity (In Years)	Weighted Average Pay Rate	Receive Rate	Notional Amount		Estimated Fair Value
September 30, 2019:
Interest rate swap agreements - securities	Other liabilities	8.45	3.09%	3 month LIBOR	$	36,000	$	(4,456	)
December 31, 2018:
Interest rate swap agreements - securities	Other liabilities	9.23	3.10%	3 month LIBOR	$	35,000	$	(1,174	)

The effects of the Company's fair value hedge relationships reported in interest income on tax-exempt available-for-sale securities

on the consolidated income statement were as follows (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2019			2018			2019			2018
Interest income on tax-exempt securities	$	400		$	247		$	1,305		$	247
Effects of fair value hedge relationships	(62		)	(7		)	(132		)	(7		)
Reported interest income on tax-exempt securities	$	338		$	240		$	1,173		$	240

	Three Months Ended September 30,						Nine Months Ended September 30,
Gain (loss) on fair value hedging relationship	2019			2018			2019			2018
Interest rate swap agreements - securities:
Hedged items	$	1,045		7			$	3,282		7
Derivative designated as hedging instruments	(1,045		)	(7		)	(3,282		)	(7		)

The following amounts were recorded on the balance sheet related to cumulative basis adjustments for fair value hedges (in thousands):



Line item on the balance sheet	Carrying Amount of the Hedged Assets		Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets
September 30, 2019:
Securities available-for-sale	$	43,808	$	4,456
December 31, 2018:
Securities available-for-sale	$	39,730	$	1,174