Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

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, 2024			December 31, 2023
Notional amount	$	105,000		$	105,000
Weighted average pay rates	2.22		%	2.22		%
Weighted average receive rates	5.02		%	4.63		%
Weighted average maturity	1.7 years			2.0 years
Pre-tax changes in fair value included in AOCI	$	3,689		$	3,434

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:

	Three Months Ended
	March 31,
(Dollars in thousands)	2024		2023
Amount of losses (gains) recorded in AOCI, pre-tax	$	(1,872)	$	1,356

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, 2024				December 31, 2023
(Dollars in thousands)	Notional Amount		Fair Value		Notional Amount		Fair Value
Included in "Other assets":
Interest rate swaps related to debt	$	105,000	$	3,574	$	105,000	$	3,314

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, 2024				December 31, 2023
(Dollars in thousands)	Notional Amount		Fair Value		Notional Amount		Fair Value
Included in "Other assets":
Interest rate swaps related to commercial loans	$	399,071	$	21,575	$	416,106	$	18,990
Included in "Accrued expenses and other liabilities":
Interest rate swaps related to commercial loans	$	399,071	$	21,688	$	416,106	$	19,122