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Financial Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The details of the interest rate swap agreements are as follows:


					June 30, 2023		December 31, 2022		June 30, 2022
Effective Date	Maturity Date	Variable Index Received	Fixed Rate Paid	Presentation on Consolidated Balance Sheets	Notional Amount	Fair Value	Notional Amount	Fair Value	Notional Amount	Fair Value
04/27/2022	10/27/2023	USD-SOFR-COMPOUND	2.498%	Other Assets	$10,000,000	$89,000	$10,000,000	$187,000	$10,000,000	$65,000
04/27/2022	01/27/2024	USD-SOFR-COMPOUND	2.576%	Other Assets	10,000,000	158,000	10,000,000	233,000	10,000,000	62,000
04/27/2022	04/27/2024	USD-SOFR-COMPOUND	2.619%	Other Assets	10,000,000	219,000	10,000,000	269,000	10,000,000	58,000
01/10/2023	01/01/2026	USD-SOFR-OIS COMPOUND	3.836%	Other Assets	75,000,000	1,154,000	—	—	—	—
03/08/2023	03/01/2026	USD-SOFR-OIS COMPOUND	4.712%	Other Liabilities	40,000,000	(231,000)	—	—	—	—
03/08/2023	03/01/2027	USD-SOFR-OIS COMPOUND	4.402%	Other Liabilities	30,000,000	(239,000)	—	—	—	—
03/08/2023	03/01/2028	USD-SOFR-OIS COMPOUND	4.189%	Other Liabilities	30,000,000	(289,000)	—	—	—	—
					$205,000,000	$861,000	$30,000,000	$689,000	$30,000,000	$185,000

At June 30, 2023 and 2022, and December 31, 2022, there were six customer loan swap arrangements in place, detailed below:


		June 30, 2023					December 31, 2022					June 30, 2022
	Presentation on Consolidated Balance Sheet	Number of Positions	Notional Amount		Fair Value		Number of Positions	Notional Amount		Fair Value		Number of Positions	Notional Amount		Fair Value
Pay Fixed, Receive Variable	Other Assets	6	$	36,852,000	$	4,715,000	6	$	37,411,000	$	4,910,000	6	$	38,903,000	$	3,440,000

		6	36,852,000		4,715,000		6	37,411,000		4,910,000		6	38,903,000		3,440,000

Receive Fixed, Pay Variable	Other Liabilities	6	36,852,000		(4,715,000)		6	37,411,000		(4,910,000)		6	38,903,000		(3,440,000)
		6	36,852,000		(4,715,000)		6	37,411,000		(4,910,000)		6	38,903,000		(3,440,000)
Total		12	$	73,704,000	$	—	12	$	74,822,000	$	—	12	$	77,806,000	$	—

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References + Details