| Schedule of Derivative Instruments, Fair Value and Notional Amounts |
The following table summarizes the interest rate lock commitments and forward commitments to sell mortgage-backed securities held by the Company, their notional amount and estimated fair values at June 30, 2023 and December 31, 2022: | | | | | | | | | | | | | | | | | | | | | | | | | Notional amount | | Fair value gain | | (dollars in thousands) | June 30,
2023 | | December 31,
2022 | | June 30,
2023 | | December 31,
2022 | | Derivative instruments (included in other assets): | | | | | | | | | Interest rate lock commitments | $ | 6,127 | | | $ | 2,078 | | | $ | 119 | | | $ | 49 | | | Forward commitments to sell mortgage-backed securities | 8,831 | | | — | | | 55 | | | — | | | Total | $ | 14,958 | | | $ | 2,078 | | | $ | 174 | | | $ | 49 | |
| | | | | | | | | | | | | | | | | | | | | | | | | Notional amount | | Fair value loss | | (dollars in thousands) | June 30,
2023 | | December 31,
2022 | | June 30,
2023 | | December 31,
2022 | | Derivative instruments (included in other liabilities): | | | | | | | | | Interest rate lock commitments | $ | — | | | $ | 4,419 | | | $ | — | | | $ | 15 | | | Forward commitments to sell mortgage-backed securities | — | | | 6,669 | | | — | | | — | | | Total | $ | — | | | $ | 11,088 | | | $ | — | | | $ | 15 | |
| | | | | | | | | | | | | | | (dollars in thousands) | June 30,
2023 | | December 31,
2022 | | | | Notional Amount | $ | 225,000 | | | $ | 200,000 | | | | | Fair value loss included in other liabilities | (10,124) | | | (9,999) | | | | | Tax effected amount included in accumulated other comprehensive (loss) income | (7,391) | | | (7,300) | | | | | Average remaining life | 3.09 | | 3.37 | | | | Weighted average pay rate | 7.71 | % | | 7.23 | % | | | | Weighted average receive rate | 5.43 | % | | 5.48 | % | | |
|