Derivatives (Tables)

3 Months Ended

Mar. 31, 2023

Derivative [Line Items]

Summary of Derivative Instruments, Gain (Loss)

The effects of the fair value hedges on the Company's income statement during the three months ended March 31, 2023 and 2022 were as follows (in thousands):

		Three months ended March 31,
Derivative	Location of Gain (Loss) on Derivatives	2023			2022
Interest rate swap agreements	Interest income on loans	$	(325	)	$	(785	)

		Three months ended March 31,
Derivative	Location of Gain (Loss) on Hedged Items	2023		2022
Interest rate swap agreements	Interest income on loans	$	325	$	785

Summary of Cumulative Basis Adjustment of Fair Value Hedges

As of March 31, 2023, the following amounts were recorded on the consolidated balance sheet related to cumulative basis adjustment for fair value hedges (in thousands):

Line Item in the Balance Sheet in Which the Hedge Item is Included	Carrying Amount of the Hedged Asset		Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Asset
Loans	$	12,556	$	(828	)

Not Designated as Hedging Instrument

Derivative [Line Items]

Summary of Fair Value Derivative Instruments

The following amounts represent the notional amounts and gross fair value of derivative contracts not designated as hedging instruments outstanding during the three months ended March 31, 2023 (dollars in thousands):

March 31, 2023	Balance Sheet Location	Weighted Average Remaining Maturity (Years)	Notional Amount		Estimated Value
Interest rate swap agreements	Other assets	4.8	$	38,579	$	3,353
Interest rate swap agreements	Other liabilities	4.8		38,579		(3,353	)

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 values of outstanding derivatives designated as hedging instruments as of March 31, 2023 and December 31, 2022 (in thousands):

	Balance Sheet Location	Weighted Average Remaining Maturity (Years)	Notional Amount		Estimated Value
March 31, 2023
Fair value hedges:
Interest rate swap agreements	Other liabilities	6.1	$	13,384	$	(2,525	)
December 31, 2022
Fair value hedges:
Interest rate swap agreements	Other liabilities	6.3	$	13,448	$	(3,100	)