Derivatives (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value Hedge Relationships in Balance Sheet

A summary of the Company’s fair value hedge relationships for the periods presented are as follows (dollars in thousands):

		Weighted
		Average
	Balance	Remaining	Weighted
	Sheet	Maturity	Average		Receive	Notional		Estimated
Liability derivatives	Location	(In Years)	Pay Rate		Rate	Amount		Fair Value
December 31, 2020:
Interest rate swap agreements - securities	Other liabilities	7.13	3.08	%	3 month LIBOR	$	36,000	$	(6,174)
December 31, 2019:
Interest rate swap agreements - securities	Other liabilities	8.20	3.09	%	3 month LIBOR	$	36,000	$	(3,446)

Schedule of Fair Value Hedge Relationships on Income Statement

The effects of the Company’s fair value hedge relationships reported in interest income on tax-exempt available-for-sale securities on the consolidated income statement were as follows (in thousands):

	Year Ended
	December 31,
	2020		2019
Interest income on tax-exempt securities	$	2,150	$	1,741
Effects of fair value hedge relationships		(781)		(223)
Reported interest income on tax-exempt securities	$	1,369	$	1,518

	Year Ended
	December 31,
Gain (loss) on fair value hedging relationship	2020		2019
Interest rate swap agreements - securities:
Hedged items	$	(6,174)	$	(3,446)
Derivative designated as hedging instruments	$	6,174	$	3,446

Schedule of Fair Value Hedges

The following amounts were recorded on the balance sheet related to cumulative basis adjustments for fair value hedges at December 31, 2020 and 2019 (in thousands):

			Cumulative Amount of Fair
			Value Hedging Adjustment
	Carrying Amount		Included in Other Comprehensive
Line item on the balance sheet	of the Hedged Assets		Income
December 31, 2020:
Securities available-for-sale	$	44,017	$	(1,063)
December 31, 2019:
Securities available-for-sale	$	42,710	$	(302)