Hedge Accounting

6 Months Ended

Jun. 30, 2024

Hedge Accounting [Abstract]

Hedge Accounting

Note 19 – Hedge Accounting

As of June 30, 2024, our Company held derivative instruments to the notional value of $33.4 million. The changes in fair value of that instrument were recorded in Other Comprehensive Income and released into interest expense in the same period(s) in which the hedged transactions affect earnings. As of December 31, 2023, our Company held no derivative instruments. In the quarter and six months ended June 30, 2024 and June 30, 2023, respectively, the derivative instruments affected Comprehensive Income as follows:

(Dollars in thousands)	Location of Loss Recognized in Income on Derivatives	Amount of Loss (Gain) Recognized in Income on Derivatives
		Quarter Ended June 30				Six Months Ended June 30
			2024		2023		2024		2023
Interest rate contracts	Interest expense	$	—	$	(19)	$	—	$	(786)
Total		$	—	$	(19)	$	—	$	(786)

	Loss (Gain) Recognized in OCI on Derivatives (Effective Portion)
(Dollars in thousands)	Amount				Amount
	Quarter Ended June 30				Six Months Ended June 30
		2024		2023		2024		2023
Interest rate contracts	$	98	$	(16)	$	98	$	2
Total	$	98	$	(16)	$	98	$	2
	Loss (Gain) Reclassified from OCI into Income (Effective Portion)
Line Item	Amount				Amount
	Quarter Ended June 30				Six Months Ended June 30
		2024		2023		2024		2023
Interest expense	$	—	$	(220)	$	—	$	(785)
Total	$	—	$	(220)	$	—	$	(785)