Derivatives and hedging activities (Tables)

12 Months Ended

Dec. 31, 2022

Derivatives and hedging activities

Schedule of fair value of derivative financial instruments and balance sheet classification

			Asset Derivatives			Asset Derivatives			Liability Derivatives			Liability Derivatives
			As of December 31, 2022 (1)			As of December 31, 2021 (1) (2)			As of December 31, 2022			As of December 31, 2021 (2)
		Notional	Balance Sheet			Balance Sheet			Balance Sheet			Balance Sheet
(Dollars in thousands)		Amount	Location	Fair Value		Location	Fair Value		Location	Fair Value		Location	Fair Value
Derivatives designated as hedging instruments
Interest Rate Floor	$	25,000	Other Assets	$	1	Other Assets	$	844		$			$
Total derivatives designated as hedging instruments				$	1		$	844		$			$
Derivatives not designated as hedging instruments
Interest Rate Swaps (2)	$	382,476	Other Assets	$	22,195	Other Assets	$	9,026	Other Liabilities	$	21,466	Other Liabilities	$	8,811
Total derivatives not designated as hedging instruments				$	22,195		$	9,026		$	21,466		$	8,811

(1) Amounts include accrued interest of $0.4 million and $0.3 million at December 31, 2022 and 2021.

(2) Notional amount of interest rate swaps at December 31, 2021 were $392.7 million.

Schedule of effect of fair value and cash flow hedge accounting on accumulated other comprehensive income

Location of

Amount of

Amount of

Gain or (Loss)

Gain

Amount of

Amount of

(Loss)

Amount of

Recognized from

Amount of

Reclassified

(Loss)

(Loss)

Recognized in

(Loss)

Accumulated

Gain

from Accumulated

Reclassified

Recognized in

OCI Included

Recognized in

Other Comprehensive

Reclassified

OCI into Income

from Accumulated

OCI on

Component

OCI Excluded

Income into

from Accumulated

Included Component

OCI into Income

(Dollars in thousands)

Derivative

December 31, 2022

Component

Income

OCI into Income

December 31, 2022

Excluded Component

Derivatives in Cash Flow Hedging Relationships:

Cash Flow Swap

$

$

$

Other expense

$

$

$

Interest Rate Floor (*)

(515)

(497)

(18)

Interest Income

212

276

(64)

Total

$

(515)

$

(497)

$

(18)

$

212

$

276

$

(64)

Location of

Amount of

Amount of

Gain or (Loss)

Gain (Loss)

Amount of

Amount of

Gain (Loss)

Amount of

Recognized from

Amount of

Reclassified

(Loss)

(Loss)

Recognized in

(Loss)

Accumulated

Gain

from Accumulated

Reclassified

Recognized in

OCI Included

Recognized in

Other Comprehensive

Reclassified

OCI into Income

from Accumulated

OCI on

Component

OCI Excluded

Income into

from Accumulated

Included Component

OCI into Income

(Dollars in thousands)

Derivative

December 31, 2021

Component

Income

OCI into Income

December 31, 2021

Excluded Component

Derivatives in Cash Flow Hedging Relationships :

Cash Flow Swap

$

401

$

401

$

Interest Expense

$

(23)

$

(23)

$

Cash Flow Swap

Other Expense

(25)

(25)

Interest Rate Floor (*)

(228)

(245)

17

Interest Income

543

607

(64)

Total

$

173

$

156

$

17

$

495

$

559

$

(64)

*     Amounts disclosed are gross and not net of taxes.

Schedule of effect of derivative financial instruments on Income Statement

		Location and Amount of Gain or (Loss) Recognized in
		Income on Fair Value and Cash Flow Hedging
		Relationships
		For the twelve months ended December 31,
		2022		2022		2021		2021
(Dollars in thousands)		Interest Income		Interest Expense		Interest Income		Interest Expense
Total amounts of income and expense line items presented in the statements of income and comprehensive income in which the effects of fair value or cash flow hedges are recorded	$	212	$		$	543	$	(48)
The effects of fair value and cash flow hedging:
Gain or (loss) on cash flow hedging relationships
Interest contracts
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income		212				543		(23)
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income as a result that a forecasted transaction is no longer probable of occurring								(25)
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - included component		276				607		(48)
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - excluded component		(64)				(64)

Schedule of gain (loss) on derivative instruments not designated as hedging instruments

		Amount of Gain		Amount of Gain
		Recognized in		Recognized in
	Location of Gain or (Loss)	Income		Income
	Recognized in Income on	Twelve Months Ended		Twelve Months Ended
(Dollars in thousands)	Derivative	December 31, 2022		December 31, 2021
Derivatives Not Designated as Hedging Instruments:
Interest Rate Swaps	Interest rate swap revenue	$	516	$	136
Other Contracts			5
Total		$	521	$	136
Fee Income	Fee income	$	106	$	623

Schedule of offsetting derivatives

Offsetting of Derivative Assets
as of December 31, 2022
						Gross Amounts Not Offset in the Balance Sheet
	Gross			Net Amounts
	Amounts of		Gross Amounts	of Assets
	Recognized		Offset in the	presented in the		Financial		Cash Collateral		Net
(Dollars in thousands)	Assets		Balance Sheet	Balance Sheet		Instruments		Received		Amount
Derivatives	$	22,196	$	$	22,196	$		$	14,530	$	7,666
Offsetting of Derivative Liabilities
as of December 31, 2022
						Gross Amounts Not Offset in the Balance Sheet
	Gross			Net Amounts
	Amounts of		Gross Amounts	of Liabilities
	Recognized		Offset in the	presented in the		Financial		Cash Collateral		Net
(Dollars in thousands)	Liabilities		Balance Sheet	Balance Sheet		Instruments		Paid*		Amount
Derivatives	$	21,466	$	$	21,466	$	21,466	$		$
*Cash collateral of $7,830 was paid but not presented as an offset above.
Offsetting of Derivative Assets
as of December 31, 2021
						Gross Amounts Not Offset in the Balance Sheet
	Gross			Net Amounts
	Amounts of		Gross Amounts	of Assets
	Recognized		Offset in the	presented in the		Financial		Cash Collateral		Net
	Assets		Balance Sheet	Balance Sheet		Instruments		Received		Amount
Derivatives	$	9,870	$	$	9,870	$	3,218	$		$	6,652
Offsetting of Derivative Liabilities
as of December 31, 2021
						Gross Amounts Not Offset in the Balance Sheet
	Gross			Net Amounts
	Amounts of		Gross Amounts	of Liabilities
	Recognized		Offset in the	presented in the		Financial		Cash Collateral		Net
	Liabilities		Balance Sheet	Balance Sheet		Instruments		Paid		Amount
Derivatives	$	8,818	$	$	8,818	$	3,218	$	5,600	$