XML 47 R37.htm IDEA: XBRL DOCUMENT v3.22.1
Derivatives and Hedging Activities (Tables)
3 Months Ended
Mar. 31, 2022
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Summary of the Company's Derivatives Associated with its Interest Rate Risk Management Activities

 

The following table summarizes the Company’s derivatives associated with its interest rate risk management activities:

 

 

 

 

 

 

 

 

 

 

 

March 31, 2022

 

(Dollars in thousands)

 

Start Date

 

Maturity Date

 

Rate

 

 

Notional

 

 

Assets

 

 

Liabilities

 

Debt Hedging

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hedging Instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Rate Swap 2020

 

4/13/2020

 

4/13/2025

 

0.68%

 

 

$

5,000

 

 

$

283

 

 

$

 

Interest Rate Swap 2021

 

4/13/2021

 

4/13/2026

 

0.74%

 

 

 

5,000

 

 

 

352

 

 

 

 

Total Hedging Instruments

 

 

 

 

 

 

 

 

 

$

10,000

 

 

$

635

 

 

$

 

Hedged Items:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Variability in cash flows related to

      90-day FHLB advances

 

 

 

 

 

 

 

 

 

N/A

 

 

$

 

 

$

10,000

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2021

 

(Dollars in thousands)

 

Start Date

 

Maturity Date

 

Rate

 

 

Notional

 

 

Assets

 

 

Liabilities

 

Debt Hedging

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Hedging Instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Rate Swap 2020

 

4/13/2020

 

4/13/2025

 

0.68%

 

 

$

5,000

 

 

$

85

 

 

$

 

Interest Rate Swap 2021

 

4/13/2021

 

4/13/2026

 

0.74%

 

 

 

5,000

 

 

 

115

 

 

 

 

Total Hedging Instruments

 

 

 

 

 

 

 

 

 

$

10,000

 

 

$

200

 

 

$

 

Hedged Items:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Variability in cash flows related to

      90-day FHLB advances

 

 

 

 

 

 

 

 

 

N/A

 

 

$

 

 

$

10,000

 

Summary of the Effect of Cash Flow Hedge Accounting

The following table summarizes the effect of cash flow hedge accounting on the consolidated statements of income for the three months ended March 31, 2022 and 2021:

 

 

Location and Amount of Loss Recognized in

Consolidated Statements of Income

 

 

2022

 

 

2021

 

(Dollars in thousands)

Interest

Income

(Expense)

 

 

Other

Income

(Expense)

 

 

Interest

Income

(Expense)

 

 

Other

Income

(Expense)

 

The effect of cash flow hedge accounting:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     Amount reclassified from AOCI into expense

$

(12

)

 

$

 

 

$

(5

)

 

$