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Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Outstanding Notional Balances and Fair Values of Outstanding Derivative Positions

The following table provides the outstanding notional balances and fair values of outstanding derivative positions (in thousands):

 

December 31, 2023:

 

Outstanding
Notional
Balance

 

 

Asset
Derivative
Fair Value

 

 

Liability
Derivative
Fair Value

 

IRLCs

 

$

28,956

 

 

$

427

 

 

$

 

Forward mortgage-backed securities trades

 

 

35,000

 

 

 

 

 

 

288

 

 

December 31, 2022:

 

Outstanding
Notional
Balance

 

 

Asset
Derivative
Fair Value

 

 

Liability
Derivative
Fair Value

 

IRLCs

 

$

41,664

 

 

$

400

 

 

$

 

Forward mortgage-backed securities trades

 

 

45,000

 

 

 

85