Derivatives (Tables)

9 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following table presents the fair value of derivatives not designated as hedging instruments at September 30, 2024 and December 31, 2023:

(In Thousands)	Asset Derivatives
		September 30, 2024	December 31, 2023
	Balance Sheet Location	Fair Value	Fair Value
Interest rate swaps	Other assets	$8,930	$10,470
Interest rate lock commitments	Other assets	1,327	342
Total		$10,257	$10,812

(In Thousands)	Liability Derivatives
		September 30, 2024	December 31, 2023
	Balance Sheet Location	Fair Value	Fair Value
Interest rate swaps	Other liabilities	$8,930	$10,470
Retail interest rate contracts	Other liabilities	96	13
Total		$9,026	$10,483

Derivative Instruments, Gain (Loss)

The following table presents the net gains (losses) of derivatives not designated as hedging instruments for periods indicated below:

		Three Months Ended September 30,		Nine Months Ended September 30,
(In Thousands)	Income Statement Location	2024	2023	2024	2023
Retail interest rate contracts	Mortgage banking income	($662)	$84	($443)	$375
Interest rate lock commitments	Mortgage banking income	275	(312)	920	46
Total		($387)	($228)	$477	$421

Offsetting Assets

The following table summarizes the derivatives that have a right of offset as of September 30, 2024 and December 31, 2023:

September 30, 2024				Gross amounts not offset in the Statement of Financial Position
(In Thousands)	Gross amounts of recognized assets and liabilities	Gross amounts offset in the Statement of Financial Position	Net amounts of assets and liabilities presented in the Statement of Financial Position	Financial Instruments	Collateral Posted	Net Amount
Asset Derivatives
Interest rate swaps	$8,930	$—	$8,930	$—	$—	$8,930
Liability Derivatives
Interest rate swaps	$8,930	$—	$8,930	$—	$8,930	$—
Retail interest rate contracts	96	—	96	—	—	96
December 31, 2023				Gross amounts not offset in the Statement of Financial Position
(In Thousands)	Gross amounts of recognized assets and liabilities	Gross amounts offset in the Statement of Financial Position	Net amounts of assets and liabilities presented in the Statement of Financial Position	Financial Instruments	Collateral Posted	Net Amount
Asset Derivatives
Interest rate swaps	$10,470	$—	$10,470	$—	$—	$10,470
Liability Derivatives
Interest rate swaps	$10,470	$—	$10,470	$—	$10,470	$—
Retail interest rate contracts	13	—	13	—	—	13

Offsetting Liabilities

The following table summarizes the derivatives that have a right of offset as of September 30, 2024 and December 31, 2023:

September 30, 2024				Gross amounts not offset in the Statement of Financial Position
(In Thousands)	Gross amounts of recognized assets and liabilities	Gross amounts offset in the Statement of Financial Position	Net amounts of assets and liabilities presented in the Statement of Financial Position	Financial Instruments	Collateral Posted	Net Amount
Asset Derivatives
Interest rate swaps	$8,930	$—	$8,930	$—	$—	$8,930
Liability Derivatives
Interest rate swaps	$8,930	$—	$8,930	$—	$8,930	$—
Retail interest rate contracts	96	—	96	—	—	96
December 31, 2023				Gross amounts not offset in the Statement of Financial Position
(In Thousands)	Gross amounts of recognized assets and liabilities	Gross amounts offset in the Statement of Financial Position	Net amounts of assets and liabilities presented in the Statement of Financial Position	Financial Instruments	Collateral Posted	Net Amount
Asset Derivatives
Interest rate swaps	$10,470	$—	$10,470	$—	$—	$10,470
Liability Derivatives
Interest rate swaps	$10,470	$—	$10,470	$—	$10,470	$—
Retail interest rate contracts	13	—	13	—	—	13