XML 74 R59.htm IDEA: XBRL DOCUMENT v3.24.0.1
Derivatives Hedging Instruments (Tables)
12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Interest Rate Swap Transactions

The Company presents derivative positions gross on the balance sheet for customers and net for financial institution counterparty positions subject to master netting arrangements. The following table reflects the derivatives recorded on the balance sheet as of December 31:

 

 

 

2023

 

 

2022

 

 

 

Notional
Amount

 

 

Fair Value

 

 

Notional
Amount

 

 

Fair Value

 

Included in other assets:

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps with loan customers in
   an asset position

 

$

44,773

 

 

$

2,114

 

 

$

6,980

 

 

$

269

 

Counterparty positions with financial
   institutions in an asset position

 

 

228,873

 

 

 

10,367

 

 

 

212,570

 

 

 

16,310

 

Total included in other assets

 

 

 

 

$

12,481

 

 

 

 

 

$

16,579

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Included in accrued expenses and other
   liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps with loan customers in a
   liability position

 

$

184,100

 

 

$

12,481

 

 

$

205,590

 

 

$

16,579

 

Counterparty positions with financial
   institutions in an asset position

 

 

 

 

 

 

 

 

 

 

 

 

Counterparty positions with financial
   institutions in a liability position

 

 

 

 

 

 

 

 

 

 

 

 

Total included in accrued expenses and
   other liabilities

 

 

 

 

$

12,481

 

 

 

 

 

$

16,579

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross notional positions with customers

 

$

228,873

 

 

 

 

 

$

212,570

 

 

 

 

Gross notional positions with financial
   institution counterparties

 

$

228,873

 

 

 

 

 

$

212,570

 

 

 

 

Summary of Gain or loss On Derivatives

The effect of swap fair value changes on the Consolidated Statement of Operations for the years ended December 31, 2023, 2022 and 2021 are as follows:

 

 

 

Location of

 

Amount of Gain or (Loss)

 

Derivatives

 

Gain or (Loss)

 

Recognized in

 

Not Designated

 

Recognized in

 

Income on Derivatives

 

as Hedging Instruments

 

Income on Derivative

 

2023

 

 

2022

 

 

2021

 

Interest rate swaps related to customer loans

 

Other income

 

$

 

 

$

 

 

$

64

 

Total

 

 

 

$

 

 

$

 

 

$

64