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Derivatives (Tables)
3 Months Ended
Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Interest Rate Swap Transactions The following table reflects the derivatives recorded on the balance sheet:

 

 

 

March 31, 2024

 

 

December 31, 2023

 

 

 

Notional
Amount

 

 

Fair Value

 

 

Notional
Amount

 

 

Fair Value

 

Included in other assets:

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps with loan customers in an
   asset position

 

$

32,877

 

 

$

1,213

 

 

$

44,773

 

 

$

2,114

 

Counterparty positions with financial institutions
   in an asset position

 

 

225,104

 

 

 

13,469

 

 

 

228,873

 

 

 

10,367

 

Total included in other assets

 

 

 

 

$

14,682

 

 

 

 

 

$

12,481

 

Included in accrued expenses and other liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swaps with loan customers in a
   liability position

 

$

192,227

 

 

$

14,682

 

 

$

184,100

 

 

$

12,481

 

   Counterparty positions with financial institutions
   in a liability position

 

 

 

 

 

 

 

 

 

 

 

 

Total included in accrued expenses and
   other liabilities

 

 

 

 

$

14,682

 

 

 

 

 

$

12,481

 

Gross notional positions with customers

 

$

225,104

 

 

 

 

 

$

228,873

 

 

 

 

Gross notional positions with financial institution
   counterparties

 

$

225,104

 

 

 

 

 

$

228,873

 

 

 

 

Summary of Gain or loss On Derivatives

The effect of swap fair value changes on the Consolidated Statement of Operations 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

 

March 31, 2024

 

 

March 31, 2023

 

Interest rate swaps related to customer loans

 

Other income

 

$

 

 

$

 

Total

 

 

 

$

 

 

$