Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of the Interest Rate Swap Designated as a Fair Value Hedge

A summary of the interest rate swap designated as a fair value hedge is presented below:

	March 31, 2024			December 31, 2023
Notional amount fair value hedge	$	100,000		$	100,000
Fixed pay rates		4.35	%		4.35	%
Variable SOFR receive rates		5.34	%		5.38	%
Remaining maturity (in years)		2.3			2.6
Fair value	$	234		$	(836	)

Summary of Non-Designated Derivative Instruments used for Risk Management

The net gains (losses) relating to non-designated derivative instruments used for risk management are included in Net Gains on Sale of Loans on the Consolidated Statements of Income and are summarized below for the quarters ended March 31, 2024 and March 31, 2023:

	March 31, 2024			March 31, 2023
Forward sales contracts	$	2		$	(87	)
Interest rate lock commitments		(47	)		109

Summary of Fair Value of Derivatives in Consolidated Balance Sheets

The following table reflects the amount and fair value of mortgage banking derivatives included in the Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023:

		March 31, 2024					December 31, 2023
		Notional		Fair			Notional		Fair
		Amount		Value			Amount		Value
Included in other assets:
	Forward sales contracts	$	215	$	4		$	0	$	0
	Interest rate lock commitments		5,962		61			7,400		109
	Total included in other assets	$	6,177	$	65		$	7,400	$	109
Included in other liabilities:
	Forward sales contracts	$	5,250	$	(12	)	$	3,300	$	(14	)