| Schedule of Derivative Instruments |
The details of the Bank's swap agreements are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2024 | December 31, 2023 | September 30, 2023 | | Effective Date | Maturity Date | Variable Index Received | Fixed Rate Paid | Presentation on Consolidated Balance Sheets | Notional Amount | Fair Value | Notional Amount | Fair Value | Notional Amount | Fair Value | | Cash Flow Hedges | | 04/27/2022 | 10/27/2023 | USD-SOFR-COMPOUND | 2.498% | Other Assets | $ | — | | $ | — | | $ | — | | $ | — | | $ | 10,000,000 | | $ | 20,000 | | | 04/27/2022 | 01/27/2024 | USD-SOFR-COMPOUND | 2.576% | Other Assets | — | | — | | 10,000,000 | | 22,000 | | 10,000,000 | | 92,000 | | | 04/27/2022 | 04/27/2024 | USD-SOFR-COMPOUND | 2.619% | Other Assets | — | | — | | 10,000,000 | | 86,000 | | 10,000,000 | | 159,000 | | | 01/10/2023 | 01/01/2026 | USD-SOFR-OIS COMPOUND | 3.836% | Other (Liabilities) Assets | 75,000,000 | | (172,000) | | 75,000,000 | | 272,000 | | 75,000,000 | | 1,513,000 | | | | | | | $ | 75,000,000 | | $ | (172,000) | | $ | 95,000,000 | | $ | 380,000 | | $ | 105,000,000 | | $ | 1,784,000 | | | Fair Value Hedges | | 03/08/2023 | 03/01/2026 | USD-SOFR-OIS COMPOUND | 4.712% | Other (Liabilities) Assets | $ | 40,000,000 | | $ | (601,000) | | $ | 40,000,000 | | $ | (581,000) | | $ | 40,000,000 | | $ | 63,000 | | | 03/08/2023 | 03/01/2027 | USD-SOFR-OIS COMPOUND | 4.402% | Other (Liabilities) Assets | 30,000,000 | | (710,000) | | 30,000,000 | | (598,000) | | 30,000,000 | | 120,000 | | | 03/08/2023 | 03/01/2028 | USD-SOFR-OIS COMPOUND | 4.189% | Other (Liabilities) Assets | 30,000,000 | | (858,000) | | 30,000,000 | | (678,000) | | 30,000,000 | | 250,000 | | | 07/12/2023 | 08/01/2025 | USD-SOFR-OIS COMPOUND | 4.703% | Other (Liabilities) Assets | 50,000,000 | | (293,000) | | 50,000,000 | | (292,000) | | 50,000,000 | | 272,000 | | | | | | | $ | 150,000,000 | | $ | (2,462,000) | | $ | 150,000,000 | | $ | (2,149,000) | | $ | 150,000,000 | | $ | 705,000 | | | Total swap agreements | $ | 225,000,000 | | $ | (2,634,000) | | $ | 245,000,000 | | $ | (1,769,000) | | $ | 255,000,000 | | $ | 2,489,000 | |
At September 30, 2024 there were eight customer loan swap arrangements in place. This compares to seven customer loan swap arrangements in place at December 31, 2023 and six customer loan swap arrangements in place at September 30, 2023. The details of the Bank's customer loan swap arrangements are detailed below: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2024 | December 31, 2023 | September 30, 2023 | | Presentation on Consolidated Balance Sheet | Number of Positions | Notional Amount | Fair Value | Number of Positions | Notional Amount | Fair Value | Number of Positions | Notional Amount | Fair Value | | Pay Fixed, Receive Variable | Other Assets | 6 | $ | 34,988,000 | | $ | 3,478,000 | | 6 | $ | 36,286,000 | | $ | 4,259,000 | | 6 | | $ | 36,572,000 | | $ | 6,031,000 | | | Pay Fixed, Receive Variable | Other Liabilities | 2 | 7,647,000 | | (274,000) | | 1 | 5,048,000 | | (89,000) | | — | | — | | — | | | | 8 | 42,635,000 | | 3,204,000 | | 7 | 41,334,000 | | 4,170,000 | | 6 | | 36,572,000 | | 6,031,000 | | | Receive Fixed, Pay Variable | Other Assets | 2 | 7,647,000 | | 274,000 | | 1 | 5,048,000 | | 89,000 | | — | | — | | — | | | Receive Fixed, Pay Variable | Other Liabilities | 6 | 34,988,000 | | (3,478,000) | | 6 | 36,286,000 | | (4,259,000) | | 6 | | 36,572,000 | | (6,031,000) | | | | 8 | 42,635,000 | | (3,204,000) | | 7 | 41,334,000 | | (4,170,000) | | 6 | | 36,572,000 | | (6,031,000) | | | Total | | 16 | $ | 85,270,000 | | $ | — | | 14 | $ | 82,668,000 | | $ | — | | 12 | | $ | 73,144,000 | | $ | — | |
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