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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - (Tables)
12 Months Ended
Dec. 31, 2024
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES  
Schedule of fair value of the Company's derivative financial instruments

(Dollars in thousands)

December 31, 2024

 

Derivative Assets

Derivative Liabilities

Location

Fair Value

Location

Fair Value

Derivatives designated as hedging instruments:

Interest rate swaps

Other Assets

$

817

Other Liabilities

$

2,280

Total

$

817

$

2,280

(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 assets subject to an enforceable master netting arrangement

Gross

Net Amounts

Gross Amounts Not Offset in the Consolidated Balance Sheet

Gross

Amounts

of Assets

(Dollars in thousands)

Amounts of

Offset in the

Presented in the

Cash

Recognized

Consolidated

Consolidated

Financial

Collateral

Net

Assets

Balance Sheet

Balance Sheet

Instruments

Received

Amount

December 31, 2024

 

  

 

  

 

  

 

  

 

  

 

  

Derivatives

$

817

$

$

817

$

(817)

$

$

 

  

 

  

 

  

 

  

 

  

 

  

December 31, 2023

 

  

 

  

 

  

 

  

 

  

 

  

Derivatives

$

$

$

$

$

$

Schedule of derivative liabilities subject to an enforceable master netting arrangement

Gross

Net Amounts

Gross Amounts Not Offset in the Consolidated Balance Sheet

Gross

Amounts

of Liabilities

(Dollars in thousands)

Amounts of

Offset in the

Presented in the

Cash

Recognized

Consolidated

Consolidated

Financial

Collateral

Net

Liabilities

Balance Sheet

Balance Sheet

Instruments

Pledged

Amount

December 31, 2024

 

  

 

  

 

  

 

  

 

  

 

  

Derivatives

$

2,280

$

$

2,280

$

(817)

$

(1,463)

$

 

  

 

  

 

  

 

  

 

  

 

  

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

December 31, 2024:

Derivative Assets

$

$

817

$

$

$

817

Derivative Liabilities

(1,324)

(956)

(2,280)

Total

$

$

(507)

$

(956)

$

$

(1,463)

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

(Dollars in thousands)

December 31, 

December 31, 

 

2024

2023

Carrying amount of hedged assets:

Closed Portfolio Amount

Closed Portfolio Amount

Fixed Rate Loans

$

134,878

Available-for-sale - Municipals

50,653

$

50,964

Available-for-sale - MBS

32,821

35,806

Total

$

218,352

$

86,770

Interest rate swaps notional amount

$

125,000

$

50,000

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

(Dollars in thousands)

December 31, 

December 31, 

 

2024

2023

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

Fixed Rate Loans

$

823

$

Available-for-sale - Municipals

(375)

(1,230)

Available-for-sale - MBS

(122)

(407)

Total

$

326

$

(1,637)

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

(Dollars in thousands)

December 31, 

 

2024

2023

Amount of loss recognized in other comprehensive loss

$

(497)

$

(1,637)

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

773

168

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

(Dollars in thousands)

December 31, 

 

2024

2023

Amount of loss recognized in other comprehensive loss

$

(993)

$

(2,885)

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

850

274

Interest rate swaps notional amount

$

100,000

$

100,000