Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Balance Sheet as of March 31, 2025 and December 31, 2024:

	Derivative Assets					Derivative Liabilities
($ in thousands)	Notional Amount		Balance Sheet Location	Fair Value		Notional Amount		Balance Sheet Location	Fair Value
As of March 31, 2025
Derivatives designated as hedging instruments:
Interest rate products	$	25,000	Other assets	$	124	$	50,000	Other liabilities	$	883
Total derivatives designated as hedging instruments				$	124				$	883
As of December 31, 2024
Derivatives designated as hedging instruments:
Interest rate products	$	25,000	Other assets	$	368	$	50,000	Other liabilities	$	579
Total derivatives designated as hedging instruments				$	368				$	579

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The table below presents the effect of cash flow hedge accounting on accumulated OCI for the three months ended March 31, 2025:

Derivatives in Subtopic 815-20 Hedging Relationships ($ in thousands)	Amount of Gain (Loss) Recognized in OCI on Derivative		Amount of Gain (Loss) Recognized in OCI Included Component		Amount of Gain (Loss) Recognized in OCI Excluded Component		Location of Gain (Loss) Recognized from Accumulated OCI into Income	Amount of Gain (Loss) Reclassified from Accumulated OCI into Income		Amount of Gain (Loss) Reclassified from Accumulated OCI into Income Included Component		Amount of Gain (Loss) Reclassified from Accumulated OCI into Income Excluded Component
Three Months Ended March 31, 2025
Derivatives in cash flow hedging relationships:
Interest rate products	$	(482)	$	(482)	$	—	Interest expense	$	31	$	31	$	—
Total	$	(482)	$	(482)	$	—		$	31	$	31	$	—

The Company had no derivative instruments that affect accumulated OCI for the three months ended March 31, 2024.

Schedule of Derivative Instruments, Effect on Statement of Income

The table below presents the effect of the Company’s derivative financial instruments on the Statement of Income for the three months ended March 31, 2025:

	Three Months Ended March 31, 2025
($ in thousands)	Interest Expense
Total amounts of income and expense line items presented in the statement of financial performance in which the effects of fair value or cash flow hedges are recorded	$	31
The effects of cash flow hedging:
Gain (loss) on cash flow hedging relationships in Subtopic 815-20
Interest contracts
Amount of loss reclassified from accumulated OCI into income	$	31
Amount of gain (loss) reclassified from accumulated OCI into income as a result that a forecasted transaction is no longer probable of occurring	—
Amount of loss reclassified from accumulated OCI into income - included component	31
Amount of gain (loss) reclassified from accumulated OCI into income - excluded component	—

Schedule of Offsetting Assets

The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of March 31, 2025 and December 31, 2024. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the Balance Sheet:

Offsetting of Derivative Assets
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Balance Sheet		Net Amounts of Assets presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet
($ in thousands)							Financial Instruments		Cash Collateral Received		Net Amount
As of March 31, 2025
Derivatives	$	124	$	—	$	124	$	—	$	124	$	—
Total	$	124	$	—	$	124	$	—	$	124	$	—
As of December 31, 2024
Derivatives	$	368	$	—	$	368	$	—	$	368	$	—
Total	$	368	$	—	$	368	$	—	$	368	$	—

Offsetting of Derivative Liabilities
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Balance Sheet		Net Amounts of Liabilities presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet
($ in thousands)							Financial Instruments		Cash Collateral Posted		Net Amount
As of March 31, 2025
Derivatives	$	883	$	—	$	883	$	—	$	883	$	—
Total	$	883	$	—	$	883	$	—	$	883	$	—
As of December 31, 2024
Derivatives	$	579	$	—	$	579	$	—	$	579	$	—
Total	$	579	$	—	$	579	$	—	$	579	$	—

Schedule of Offsetting Liabilities

The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of March 31, 2025 and December 31, 2024. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the Balance Sheet:

Offsetting of Derivative Assets
	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Balance Sheet		Net Amounts of Assets presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet
($ in thousands)							Financial Instruments		Cash Collateral Received		Net Amount
As of March 31, 2025
Derivatives	$	124	$	—	$	124	$	—	$	124	$	—
Total	$	124	$	—	$	124	$	—	$	124	$	—
As of December 31, 2024
Derivatives	$	368	$	—	$	368	$	—	$	368	$	—
Total	$	368	$	—	$	368	$	—	$	368	$	—

Offsetting of Derivative Liabilities
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Balance Sheet		Net Amounts of Liabilities presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet
($ in thousands)							Financial Instruments		Cash Collateral Posted		Net Amount
As of March 31, 2025
Derivatives	$	883	$	—	$	883	$	—	$	883	$	—
Total	$	883	$	—	$	883	$	—	$	883	$	—
As of December 31, 2024
Derivatives	$	579	$	—	$	579	$	—	$	579	$	—
Total	$	579	$	—	$	579	$	—	$	579	$	—