Derivative Financial Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2023

Derivative Financial Instruments and Hedging Activities

Summary of Interest Rate Swaps

(In thousands, except percentages and years)	September 30, 2023			December 31, 2022
Notional amount	$	20,000		$	20,000
Fair value	$	1,264		$	1,537
Weighted average pay rate		0.83	%		0.83	%
Weighted average receive rate		5.56	%		1.50	%
Weighted average maturity in years		1.44			2.57
Number of contracts		1			1

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)

	For the three months ended September 30,				For the nine months ended September 30,
(In thousands)	2023		2022		2023		2022
(Loss) Gain recognized in OCI	$	(139)	$	452	$	(273)	$	1,386
Gain reclassified from AOCI into net income	$	238	$	—	$	656	$	—