XML 42 R31.htm IDEA: XBRL DOCUMENT v3.24.2.u1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - (Tables)
6 Months Ended
Jun. 30, 2024
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES  
Schedule of fair value of the Company's derivative financial instruments

(Dollars in thousands)

June 30, 2024

 

Derivative Assets

Derivative Liabilities

Location

Fair Value

Location

Fair Value

Derivatives designated as hedging instruments:

Interest rate swaps

Other Assets

$

Other Liabilities

$

741

Total

$

$

741

(Dollars in thousands)

December 31, 2023

 

Derivative Assets

Derivative Liabilities

Location

Fair Value

Location

Fair Value

Derivatives designated as hedging instruments:

Interest rate swaps

Other Assets

$

Other Liabilities

$

4,501

Total

$

$

4,501

Schedule of derivative liabilities subject to an enforceable master netting arrangement

    

    

Gross

    

Net Amounts

    

    

    

Amounts

of Liabilities

Offset

Presented

Gross

in the

in the

(Dollars in thousands)

Amounts of

Consolidated

Consolidated

Cash

Recognized

Balance

Balance

Financial

Collateral

Net

Liabilities

Sheet

Sheet

Instruments

Pledge

Amount

June 30, 2024

 

  

 

  

 

  

 

  

 

  

 

  

Derivatives

$

741

$

$

741

$

$

(741)

$

 

  

 

  

 

  

 

  

 

  

 

  

December 31, 2023

 

  

 

  

 

  

 

  

 

  

 

  

Derivatives

$

4,501

$

$

4,501

$

$

(4,501)

$

Schedule of the remaining contractual maturity of the master netting arrangements

Remaining Contractual Maturity of the Agreements

Greater

(Dollars in thousands)

Up to

1 to 3

3 to 5

than

1 Year

Years

Years

5 Years

Total

June 30, 2024:

Derivatives

$

$

$

741

$

$

741

Total

$

$

$

741

$

$

741

Schedule of cumulative amount of fair value hedging adjustment included carrying amount of hedged assets

(Dollars in thousands)

June 30, 

December 31, 

 

2024

2023

Carrying amount of hedged assets:

Closed Portfolio Amount

Closed Portfolio Amount

Available-for-sale - Municipals

$

50,809

$

50,964

Available-for-sale - MBS

34,261

35,806

Total

$

85,070

$

86,770

Interest rate swaps notional amount

$

50,000

$

50,000

Schedule of cumulative amount of fair value hedging adjustment included carrying amount of assets

(Dollars in thousands)

June 30, 

December 31, 

 

2024

2023

Cumulative amount of fair value hedging adjustment included in the carrying amount of assets:

Available-for-sale - Municipals

$

(222)

$

(1,230)

Available-for-sale - MBS

(73)

(407)

Total

$

(295)

$

(1,637)

Schedule of pre-tax effects of the Company's derivative instruments designated as fair value hedges

(Dollars in thousands)

June 30, 

 

2024

2023

Amount of loss recognized in other comprehensive loss

$

(233)

$

Amount of gain, net of fair value re-measurements, included in interest income

272

Schedule of pre-tax effects of the Company's derivative instruments designated as cash flow hedges

(Dollars in thousands)

June 30, 

 

2024

2023

Amount of loss recognized in other comprehensive loss

$

(366)

$

Amount of gain reclassified from accumulated other comprehensive loss to interest expense

502

Interest rate swaps notional amount

$

100,000

$