XML 61 R49.htm IDEA: XBRL DOCUMENT v3.22.4
Derivatives (Tables)
12 Months Ended
Dec. 31, 2022
Derivative [Line Items]  
Summary of Derivative Instruments, Gain (Loss)

The effects of fair value hedges on the Company's income statement during the twelve months ended December 31, 2022 and 2021 were as follows (in thousands):

 

Derivative

 

Location of Gain (Loss) on Derivative

 

2022

 

 

2021

 

Interest rate swap agreements

 

Interest income on loans

 

$

1,819

 

 

$

(827

)

 

Derivative

 

Location of Gain (Loss) on Hedged Items

 

2022

 

 

2021

 

Interest rate swap agreements

 

Interest income on loans

 

$

(1,819

)

 

$

827

 

Summary of Cumulative Basis Adjustment of Fair Value Hedges

As of December 31, 2022 and 2021, the following amounts were recorded on the balance sheet related to the cumulative basis adjustment for fair value hedges (in thousands):

 

 

 

 

 

 

 

Cumulative Amount of Fair Value Hedging

 

Line Item in the Balance Sheet in

 

Carrying Amount of

 

 

Adjustments Included in the Carrying

 

Which the Hedge Items are Included

 

the Hedged Assets

 

 

Amount of the Hedged Assets

 

December 31, 2022

 

 

 

 

 

 

 

 

Loans

 

 

$

12,295

 

 

 

$

(1,153

)

 

 

 

 

 

 

 

 

 

December 31, 2021

 

 

 

 

 

 

 

 

Loans

 

 

$

13,234

 

 

 

$

667

 

Not Designated as Hedging Instrument  
Derivative [Line Items]  
Summary of Fair Value Derivative Instruments

The following table provides the outstanding notional balances and fair value of outstanding derivatives not designated as hedging instruments as of December 31, 2022 and 2021 (in thousands):

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

Balance Sheet

 

Remaining Maturity

 

Notional

 

 

Estimated

 

 

 

Location

 

(Years)

 

Amount

 

 

Value

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

Other assets

 

5.0

 

$

39,095

 

 

$

4,253

 

Interest rate swap agreements

 

Other liabilities

 

5.0

 

 

39,095

 

 

 

(4,253

)

 

 

 

 

 

 

 

 

 

 

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

Other assets

 

6.0

 

$

40,886

 

 

$

809

 

Interest rate swap agreements

 

Other liabilities

 

6.0

 

 

40,886

 

 

 

(809

)

Fair Value Hedging | Designated As Hedging Instrument  
Derivative [Line Items]  
Summary of Fair Value Derivative Instruments

The following table provides the outstanding notional balances and fair value of outstanding derivatives designated as hedging instruments as of December 31, 2022 and 2021 (in thousands):

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

 

Balance Sheet

 

Remaining Maturity

 

 

Notional

 

 

Estimated

 

Derivative

 

Location

 

(Years)

 

 

Amount

 

 

Value

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

Other liabilities

 

 

6.3

 

 

$

13,448

 

 

$

(3,100

)

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

Other liabilities

 

 

7.3

 

 

$

13,900

 

 

$

(1,476

)