Derivatives and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Outstanding Derivative Positions

The table below presents the fair value of Company’s derivative financial instruments as of the date indicated.

	As of December 31, 2023
			Fair Value
($ in thousands)	Notional Amount		Derivative Assets		Derivative Liabilities
Derivatives not designated as hedging instruments:
Customer interest rate contracts	$	13,000	$	295	—
Offsetting counterparty interest rate contracts	13,000		—		349
Total derivatives not designated as hedging instruments			$	295	349

The table below presents the gains and losses recognized in income related to derivative financial instruments that are not designated as hedging instruments. Gains and losses on interest rate swap undesignated hedges are included in "Other gains, net" on the consolidated statements of income for the date indicated.

	Gains (Losses)
($ in thousands)	Year Ended December 31, 2023
Customer interest rate swaps and counterparty offsets	$	(54)
Total	$	(54)

Schedule of Offsetting Assets

The Company’s interest rate swaps are subject to master netting arrangements between the Company and its counterparties, however, the Company has not made a policy election

to offset its derivative positions. The interest rate swaps with borrowers are cross collateralized with the underlying loan and, therefore, there is no posted collateral. Interest rate swap agreements with third-party counterparties contain provisions that require the Company to post collateral if the derivative exposure exceeds a threshold amount and receive collateral for agreements in a net asset position.

As of December 31, 2023	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet	Net Amounts of Assets presented in the Consolidated Balance Sheets	Gross Amounts Not Offset in the Consolidated Balance Sheets
					Financial Instruments	Cash Collateral Received	Net Amount
Interest rate swaps	$	295	—	295	—	—	295
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheets	Net Amounts of Liabilities presented in the Consolidated Balance Sheets	Gross Amounts Not Offset in the Consolidated Balance Sheets
					Financial Instruments	Cash Collateral Posted	Net Amount
Interest rate swaps	$	349	—	349	—	330	19

Schedule of Offsetting Liabilities

The Company’s interest rate swaps are subject to master netting arrangements between the Company and its counterparties, however, the Company has not made a policy election

to offset its derivative positions. The interest rate swaps with borrowers are cross collateralized with the underlying loan and, therefore, there is no posted collateral. Interest rate swap agreements with third-party counterparties contain provisions that require the Company to post collateral if the derivative exposure exceeds a threshold amount and receive collateral for agreements in a net asset position.

As of December 31, 2023	Gross Amounts of Recognized Assets		Gross Amounts Offset in the Consolidated Balance Sheet	Net Amounts of Assets presented in the Consolidated Balance Sheets	Gross Amounts Not Offset in the Consolidated Balance Sheets
					Financial Instruments	Cash Collateral Received	Net Amount
Interest rate swaps	$	295	—	295	—	—	295
	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Consolidated Balance Sheets	Net Amounts of Liabilities presented in the Consolidated Balance Sheets	Gross Amounts Not Offset in the Consolidated Balance Sheets
					Financial Instruments	Cash Collateral Posted	Net Amount
Interest rate swaps	$	349	—	349	—	330	19