XML 63 R49.htm IDEA: XBRL DOCUMENT v3.24.0.1
DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of fair values of Company's derivative instrument assets and liabilities related to interest rate swap contracts
The interest rate swap agreements designated as cash flow hedges are summarized as follows:
December 31, 2023December 31, 2022
(dollars in thousands)Notional
Amount		Fair
Value		Notional
Amount		Fair
Value
Fair value recorded in other assets$17,000$322$17,000$629
Schedule of the effect of interest rate contracts designated as cash flow hedges on the consolidated statements of income
The effect of interest rate swap agreements designated as cash flow hedges on the consolidated statements of income are summarized as follows:
Location of gross gain (loss) reclassified
from accumulated other
comprehensive income (loss) to income		Amounts of gross gain (loss)
reclassified from accumulated
other comprehensive income (loss)
Year Ended
December 31,
(dollars in thousands)202320222021
Designated as cash flow hedges:
Junior subordinated debentures interest expense$468$(126)$(412)
Summary of interest rate swap agreements not designated as hedging instruments
The interest rate swap agreements not designated as hedging instruments are summarized as follows:
December 31, 2023December 31, 2022
(dollars in thousands)Notional
Amount		Fair
Value		Notional
Amount		Fair
Value
Fair value recorded in other assets:
Interest rate swaps with a commercial borrower counterparty$—$—$—$—
Interest rate swaps with a financial institution counterparty94,4976,227106,9956,981
Total fair value recorded in other assets$94,497$6,227$106,995$6,981
Fair value recorded in other liabilities:
Interest rate swaps with a commercial borrower counterparty$94,497$(6,227)$106,995$(6,981)
Interest rate swaps with a financial institution counterparty————
Total fair value recorded in other liabilities$94,497$(6,227)$106,995$(6,981)
Summary of the effect of interest rate contracts not designated as hedging instruments recognized in other noninterest income
The effect of interest rate contracts not designated as hedging instruments recognized in other noninterest income on the consolidated statements of income are summarized as follows:
Year Ended December 31, 2023
(dollars in thousands)202320222021
Not designated as hedging instruments:
Gross gains$11,198 $16,002 $13,773 
Gross losses(11,198)(16,002)(13,773)
Net gains (losses)$— $— $—