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Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Outstanding Notional Balances and Fair Values of Outstanding Derivative Positions

These financial instruments are not designated as hedging instruments for accounting purposes. All derivatives are carried at fair value in either other assets or other liabilities, which changes in fair value recorded through earnings in the statement of earnings.

The following table provides the outstanding notional balances and fair values of outstanding derivative positions (in thousands):

 

December 31, 2022:

 

Outstanding
Notional
Balance

 

 

Asset
Derivative
Fair Value

 

 

Liability
Derivative
Fair Value

 

IRLCs

 

$

41,664

 

 

$

400

 

 

$

 

Forward mortgage-backed securities trades

 

 

45,000

 

 

 

85

 

 

 

 

 

December 31, 2021:

 

Outstanding
Notional
Balance

 

 

Asset
Derivative
Fair Value

 

 

Liability
Derivative
Fair Value

 

IRLCs

 

$

85,973

 

 

$

1,279

 

 

$

 

Forward mortgage-backed securities trades

 

 

116,000

 

 

 

 

 

 

147