Derivatives Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

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
Asset/Liability derivatives	Location	(In Years)	Pay Rate		Rate	Amount		Fair Value
December 31, 2022:
Interest rate swap agreements - securities - dissolved	—	—	—	%	—	$	—	$	—
December 31, 2021:
Interest rate swap agreements - securities	Other liabilities	6.20	3.09	%	3 month LIBOR	$	36,000	$	(3,567)

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):

	Year Ended
	December 31,
	2022		2021		2020
Interest income on tax-exempt securities	$	1,550	$	2,205	$	2,150
Effects of fair value hedge relationships		(336)		(1,050)		(781)
Reported interest income on tax-exempt securities	$	1,214	$	1,155	$	1,369

	Year Ended
	December 31,
Gain (loss) on fair value hedging relationship	2022		2021
Interest rate swap agreements - securities:
Hedged items	$	—	$	(3,567)
Derivative designated as hedging instruments		—		3,567
Carry amount of hedged assets - securities available-for-sale		—		43,119

Schedule of Cash Flow Hedges

At December 31, 2022 and 2021, respectively, cash flow hedges are as follows (in thousands):

		December 31, 2022				December 31, 2021
	Balance Sheet	Notional		Estimated		Notional		Estimated
	Location	Amount		Fair Value		Amount		Fair Value
Cash flow hedges:
Assets	Other assets	$	-	$	-	$	-	$	-
Liabilities	Other liabilities		100,000		(1,304)		-		-

Schedule of interest rate swaps related to loan hedging program

At December 31, 2022, and 2021, respectively, interest rate swaps related to the Company’s loan hedging program that were outstanding are presented in the following table (in thousands):

	December 31, 2022				December 31, 2021
		Notional		Estimated		Notional		Estimated
		Amount		Fair Value		Amount		Fair Value
Interest rate swap agreements:
Assets	$	216,656	$	11,834	$	48,125	$	1,326
Liabilities		216,656		(11,834)		48,125		(1,326)

Schedule of interest rate swap to facilitate customer's transactions

The Company establishes limits and monitors exposures for customer swap positions.  Any fees received to enter the swap agreements at inception are recognized in earnings when received and is included in noninterest income. Such fees were as follows (in thousands):

	Year Ended
	December 31,
	2022		2021		2020
Interest rate swap agreements	$	2,162	$	965	$	—