Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The following table summarizes information about the interest rate swaps designated as cash flow hedges at December 31:


(Dollars in thousands)	2023			2022
Notional amount	$	105,000		$	125,000
Weighted average pay rates	2.22		%	2.26		%
Weighted average receive rates	4.63		%	4.44		%
Weighted average maturity	2.0 years			2.6 years
Pre-tax changes in fair value included in AOCL	3,434			5,727

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following table presents changes in fair value recorded in AOCL and in the Consolidated Statements of Income related to the cash flow hedges for the years ended December 31:


(Dollars in thousands)	2023		2022
Amount of income recognized in AOCL, pre-tax	$	(2,293)	$	10,606

Schedule of Cash Flow Hedges

The following table reflects the cash flow hedges, which were included in the Consolidated Balance Sheets at fair value, at December 31:


	2023				2022
(Dollars in thousands)	Notional Amount		Fair Value		Notional Amount		Fair Value
Included in “Other assets”:
Interest rate swaps related to debt	$	105,000	$	3,314	$	125,000	$	5,594
Total included in “Other assets”	$	105,000	$	3,314	$	125,000	$	5,594

Schedule of Derivatives Not Designated as Hedging Instruments

The following table reflects the non-designated hedges, which were included in the Consolidated Balance Sheets at fair value, at December 31:


	2023				2022
(Dollars in thousands)	Notional Amount		Fair Value		Notional Amount		Fair Value
Included in “Other assets”:
Interest rate swaps related to commercial loans	$	416,106	$	18,990	$	390,126	$	28,529
Total included in “Other assets”	416,106		18,990		390,126		28,529

Included in “Accrued expenses and other liabilities”:
Interest rate swaps related to commercial loans	$	416,106	19,122		$	390,126	$	28,529
Total included in “Accrued expenses and other liabilities”	416,106		19,122		390,126		28,529