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Interest Rate Derivative - Cumulative Basis Adjustments for Fair Value Hedges (Details) - Interest Rate Derivatives [Member] - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Derivative [Line Items]    
Carrying Amount of the Hedged Assets [1] $ 41,651  
Cumulative Amount of Fair Value Hedging Adjustment Included in The Carrying Amount of the Hedged Assets [1] (152)  
Loans Receivable [Member]    
Derivative [Line Items]    
Carrying Amount of the Hedged Assets [2]   $ 12,944
Cumulative Amount of Fair Value Hedging Adjustment Included in The Carrying Amount of the Hedged Assets [2]   53
Available for Sale Securities [Member]    
Derivative [Line Items]    
Carrying Amount of the Hedged Assets [3] 61,808 17,055
Cumulative Amount of Fair Value Hedging Adjustment Included in The Carrying Amount of the Hedged Assets [3] $ (1,308) $ (191)
[1]

These amounts include the amortized cost of a specific loan pool designated as the underlying asset for the hedging relationship in which the hedged item is the underlying asset's amortized cost projected to be remaining at the end of the contractual term of the hedging instrument.  The amount of the designated hedged item was $20.5 million at December 31, 2021.  The Company did not have this derivative agreement in place at December 31, 2020.  At December 31, 2021, the fair value of the derivative resulted in a net asset position of $152,000, recorded in other assets.  The Company’s participation in the fair value hedge had an immaterial effect on recorded interest income for the three and twelve months ended December 31, 2021 and 2020.

[2]

These amounts include the amortized historical cost basis of a specific loan pool designated as the underlying asset for the hedging relationship in which the hedged item is the underlying asset's amortized cost (last layer) projected to be remaining at the end of the contractual term of the hedging instrument.  The hedging instrument matured in April of 2021 and is no longer a component of the Company's Consolidated Statement of Condition at December 31, 2021.  The amount of the designated hedged item was $9.2 million and the fair value of the hedging instrument resulted in a net liability position of $53,000, recorded by the Company in other liabilities at December 31, 2020. The Company’s participation in the fair value hedge had an immaterial effect on recorded interest income for the three and twelve months ended December 31, 2021 and 2020.

[3]

These amounts represent the amortized cost basis of specifically identified municipal securities designated as the underlying assets for the hedging relationship. The notional amount of the designated hedge was $52.0 million and $16.3 million at December 31, 2021 and December 31, 2020, respectively.  The fair value of the derivative recorded in other assets resulted in a net asset position of $1.3 million and $191,000 at December 31, 2021 and December 31, 2020, respectively. at December 31, 2020.  The Company’s participation in the fair value hedge had an immaterial effect on recorded interest income for the three and twelve months ended December 31, 2021 and 2020.