Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amount and Fair Value of Derivative Instruments Included on Company's Consolidated Balance Sheets on a net Basis

The table below reflects the notional amount and fair value of active derivative instruments included on the Company’s consolidated balance sheets on a net basis as of September 30, 2024 and December 31, 2023.

	As of September 30, 2024					As of December 31, 2023
			Estimated					Estimated
			Fair Value					Fair Value
	Notional Amount		Gain (Loss) (1)			Notional Amount		Gain (Loss) (1)
	(Dollars in Thousands)
Derivatives designated as hedging instruments:
Fair value hedges:
Interest rate swaps related to fixed rate indirect consumer loans	$	30,000	$	(283	)	$	30,000	$	(119	)
Total fair value hedges				(283	)				(119	)
Cash flow hedges:
Interest rate swaps related to interest-bearing liabilities	$	40,000	$	(264	)	$	—		—
Total cash flow hedges				(264	)				—
Total derivatives designated as hedging instruments, net				(547	)				(119	)
Derivatives not designated as hedging instruments:
Interest rate floors	$	50,000		109		$	—		—
Credit risk participation agreement	$	6,998		(4	)	$	—		—
Total derivatives not designated as hedging instruments, net			$	105				$	—

(1)Derivatives in a gain position are recorded as other assets and derivatives in a loss position are recorded as other liabilities in the consolidated balance sheets.

Schedule of Hedging Derivative Instruments' Effect on Company's Interim Condensed Consolidated Statement of Operations

The effects, which include the reclassification of unrealized gains on terminated swap contracts, are presented as either an increase or decrease to income before income taxes in the relevant caption of the Company’s interim condensed consolidated statements of operations.

Location in the Condensed		Three Months Ended				Nine Months Ended
Consolidated Statements of Operations		September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
		(Dollars in Thousands)				(Dollars in Thousands)
Interest income	Interest and fees on loans	$	209	$	258	$	729	$	603
Interest expense	Interest on deposits		93		120		333		376
Interest expense	Interest on borrowings		12		36		84		108
Non-interest income	Other non-interest income		27		—		27		—
Non-interest expense	Other non-interest expense		72		—		10		—
	Net increase to income before income taxes	$	413	$	414	$	1,183	$	1,087