Derivatives (Tables)

3 Months Ended

Mar. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value Hedge Relationships in Balance Sheet

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

		Weighted
		Average
	Balance	Remaining	Weighted
	Sheet	Maturity	Average		Receive	Notional		Estimated
Liability derivatives	Location	(In Years)	Pay Rate		Rate	Amount		Fair Value
March 31, 2021:
Interest rate swap agreements - securities	Other liabilities	6.18	3.09	%	3 month LIBOR	$	36,000	$	(4,008)
December 31, 2020:
Interest rate swap agreements - securities	Other liabilities	7.13	3.08	%	3 month LIBOR	$	36,000	$	(6,174)

Schedule of Fair Value Hedge Relationships on Income Statement

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
	March 31,
	2021		2020
Interest income on tax-exempt securities	$	564	$	440
Effects of fair value hedge relationships		(305)		(157)
Reported interest income on tax-exempt securities	$	259	$	283

	Three Months Ended
	March 31,
Gain (loss) on fair value hedging relationship	2021		2020
Interest rate swap agreements - securities:
Hedged items	$	(4,008)	$	(6,885)
Derivative designated as hedging instruments	$	4,008	$	6,885

Schedule of Fair Value Hedges

			Cumulative Amount of Fair
			Value Hedging Adjustment
	Carrying Amount		Included in Other Comprehensive
Line item on the balance sheet	of the Hedged Assets		Income
March 31, 2021:
Securities available-for-sale	$	43,073	$	250
December 31, 2020:
Securities available-for-sale	$	44,017	$	(1,063)