XML 45 R34.htm IDEA: XBRL DOCUMENT v3.25.3
DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Fair Value of Derivative Instruments
The following table summarizes the fair value of the Company's derivative instruments at September 30, 2025 and December 31, 2024:
September 30, 2025December 31, 2024
Notional AmountBalance Sheet LocationFair ValueNotional AmountBalance Sheet LocationFair Value
Derivatives designated as hedging instruments:
Cash flow hedge designation:
Interest rate swaps - FHLB advances$75,000 Other liabilities$(303)$75,000 Other assets$1,138 
Fair value hedge designation:
Interest rate swaps - commercial loansn/aOther liabilitiesn/a100,000 Other liabilities(252)
Total derivatives designated as hedging instruments$(303)$886 
Derivatives not designated as hedging instruments:
Interest rate swaps$485,134 Other assets$15,185 $388,851 Other assets$12,240 
Interest rate swaps485,134 Other liabilities(15,567)388,851 Other liabilities(12,239)
Purchased options – rate cap5,735 Other assets— 5,813 Other assets5 
Written options – rate cap5,735 Other liabilities— 5,813 Other liabilities(5)
Risk participations - sold credit protection39,699 Other liabilities(81)47,545 Other liabilities(79)
Risk participations - purchased credit protection23,559 Other assets51 23,726 Other assets48 
Interest rate lock commitments with customers4,666 Other assets89 679 Other assets20 
Forward sale commitments6,674 Other liabilities(4)6,508 Other assets24 
Total derivatives not designated as hedging instruments$(327)$14 
The following table presents the carrying amount and associated cumulative basis adjustment related to the application of fair value hedge accounting that is included in the carrying amount of hedged assets as of September 30, 2025 and 2024.
Carrying Amounts of Hedged AssetsCumulative Amounts of Fair Value Hedging Adjustments Included in the Carrying Amounts of the Hedged Assets
September 30,June 30,
2025202420252024
Commercial loansn/a$100,000 $— $2,260 
Summary of Effect of Derivative Financial Instruments on OCI and Net Income
The following tables summarize the effect of the Company's derivative financial instruments on OCI and net income for the three and nine months ended September 30, 2025 and 2024:
Amount of Loss Recognized in OCI on DerivativeAmount of Loss Gain Recognized in OCI on Derivative
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Derivatives in cash flow hedging relationships:
Interest rate products$(67)$(2,182)$(1,441)$(320)

Amount of Loss Reclassified from AOCI into IncomeAmount of Loss Reclassified from AOCI into IncomeLocation of Loss Recognized from AOCI into Income
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Derivatives in cash flow hedging relationships:
Interest rate products$— $— $— $— Interest income

Amount of Gain (Loss) Recognized in IncomeAmount of Gain (Loss) Recognized in IncomeLocation of Gain Recognized in Income
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Derivatives designated as hedging instruments
Fair value hedge designation:
Interest rate swaps - commercial loans (1)
$— $(5)$(1)$3 Interest income on loans
Derivatives not designated as hedging instruments:
Interest rate products$780 $(530)$384 $(459)Other operating expenses
Risk participation agreements(1)87 — 160 Other operating expenses
Interest rate lock commitments with customers34 45 69 62 Mortgage banking activities
Forward sale commitments7 (12)(28)(5)Mortgage banking activities
Total derivatives not designated as hedging instruments$820 $(410)$425 $(242)
(1) Amount includes the net of the change in the fair value of the interest rate swaps hedging commercial loans and the change in the carrying value included in the hedged commercial loans.
Summary of Components of Interest Rate Swaps
The following table is a summary of components for interest rate swaps designated as hedging instruments at September 30, 2025 and December 31, 2024:
Weighted Average Pay RateWeighted Average Receive RateWeighted Average Maturity in Years
September 30, 2025
Cash flow hedge designation:
Interest rate swaps - FHLB advances3.49 %4.31 %2.5
December 31, 2024
Cash flow hedge designation:
Interest rate swaps - FHLB advances3.49 %4.53 %3.3
Fair value hedge designation:
Interest rate swaps - commercial loans4.12 %4.53 %2.7