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Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Outstanding Notional Balances and Fair Values of Outstanding Derivative Positions

The following tables provide the outstanding notional balances and fair values of outstanding derivative positions at December 31, 2022 and 2021.

(Dollars in thousands)

 

Outstanding
Notional
 Balance

 

 

Asset
 Derivative
Fair Value

 

 

Liability
 Derivative
Fair Value

 

 

Pay
Rate
 (1)

 

Receive
Rate
(1)

 

Remaining
Term
 (2)

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk participation agreements purchased

 

$

10,621

 

 

$

 

 

$

 

 

 

4.87%

 

 

2.2

 

Risk participation agreements sold

 

 

29,360

 

 

 

 

 

 

8

 

 

 

5.54%

 

 

4.2

 

Commercial loan interest rate swaps:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loan customer counterparty

 

 

147,560

 

 

 

 

 

 

9,213

 

 

 

4.77%

 

 

4.5

 

Financial institution counterparty

 

 

147,560

 

 

 

9,213

 

 

 

 

 

4.77%

 

 

 

4.5

 

Total derivatives

 

$

335,101

 

 

$

9,213

 

 

$

9,221

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

Outstanding
Notional
 Balance

 

 

Asset
 Derivative
Fair Value

 

 

Liability
 Derivative
Fair Value

 

 

Pay
Rate
 (1)

 

Receive
Rate
(1)

 

Remaining
Term
 (2)

December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial loan interest rate swaps:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loan customer counterparty

 

$

77,587

 

 

$

 

 

$

389

 

 

 

 

4.21%

 

7.6

Financial institution counterparty

 

 

77,587

 

 

 

389

 

 

 

 

 

4.21%

 

 

 

7.6

Total derivatives

 

$

155,174

 

 

$

389

 

 

$

389

 

 

 

 

 

 

 

 

(1) Weighted average rate.

(2) Weighted average life (in years).