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Derivative Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Interest Rate Swaps Designated as Cash Flow Hedges
The following table summarizes information about the interest rate swaps designated as cash flow hedges:
(Dollars in thousands)March 31,
2023
December 31,
2022
Notional amount$125,000 $125,000 
Weighted average pay rates2.26 %2.26 %
Weighted average receive rates4.31 %4.44 %
Weighted average maturity2.3 years2.6 years
Pre-tax changes in fair value included in AOCI$4,370 $5,727 
Summary of Gains or Losses Recorded in AOCI
The following table presents changes in fair value recorded in AOCI and in the Consolidated Statements of Operations related to the cash flow hedges for three months ended March 31, 2023, and 2022:
Three Months Ended
March 31,
(Dollars in thousands)20232022
Amount of (losses) gains recorded in AOCI, pre-tax$(1,356)$5,456 
Summary of Cash Flow Hedges
The following table reflects the cash flow hedges, which are included in the Unaudited Consolidated Balance Sheets at fair value:
March 31,
2023
December 31,
2022
(Dollars in thousands)Notional AmountFair ValueNotional AmountFair Value
Included in "Other assets":
Interest rate swaps related to debt$125,000 $4,239 $125,000 $5,594 
Summary of Derivatives Not Designated as Hedging
The following table reflects the non-designated hedges, which are included in the Unaudited Consolidated Balance Sheets at fair value:
March 31,
2023
December 31,
2022
(Dollars in thousands)Notional AmountFair ValueNotional AmountFair Value
Included in "Other assets":
Interest rate swaps related to commercial loans$381,196 $23,100 $390,126 $28,529 
Included in "Accrued expenses and other liabilities":
Interest rate swaps related to commercial loans$381,196 $23,100 $390,126 $28,529