Derivatives (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instrument Detail [Abstract]

Schedule of interest rate derivatives

The following table summarizes the location and aggregate fair value of the interest rate swaps on the Company’s consolidated balance sheets (in thousands):

Total notional amount		$	36,050
Effective fixed interest rate	(1)	3.33		%
Effective date		10/31/2019
Maturity date		10/31/2024
Asset balance at September 30, 2022 (included in Other assets)		$	2,071
Liability balance at December 31, 2021 (included in Accrued expenses and other liabilities)		$	452

(1)1.43% effective swap rate plus 1.90% spread per hedging agreement.