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FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK
 9 Months Ended
Sep. 30, 2024
Risks and Uncertainties [Abstract]  
FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK FINANCIAL INSTRUMENTS WITH OFF-BALANCE SHEET RISK
The Company is a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. At September 30, 2024, and December 31, 2023, these financial instruments consisted of the following:
($ in thousands)September 30, 2024December 31, 2023
Fixed Rate
Variable RateFixed RateVariable Rate
Commitments to make loans$34,997 $50,348 $34,380 $50,226 
Unused lines of credit165,324 729,288 231,335 605,646 
Standby letters of credit13,346 15,514 15,573 13,114 
Commitments to make loans are generally made for periods of 90 days or less. The fixed rate loan commitments have interest rates ranging from 0.0% to 18.0% and maturities ranging from approximately 1 year to 30 years.
ALLOWANCE FOR CREDIT LOSSES (“ACL”) ON OFF BALANCE SHEET CREDIT (“OBSC”) EXPOSURES
The Company maintains a separate ACL on OBSC exposures, including unfunded commitments and letters of credit, which is included on the accompanying consolidated balance sheet as of September 30, 2024 and December 31, 2023. The ACL on OBSC exposures is adjusted as a provision for credit loss expense. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life.
Changes in the ACL on OBSC exposures were as follows for the presented periods:
($ in thousands)Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Balance at beginning of period$2,075$2,075$2,075 $1,325 
Credit loss expense related to OBSC exposures——— 750 
Balance at end of period$2,075$2,075$2,075 $2,075 
Adjustments to the ACL on OBSC exposures are recorded to provision for credit losses related to OBSC exposures. The Company recorded no ACL provision for the three months period ended September 30, 2024 and September 30, 2023. For the nine months period ended September 30, 2024, the Company recorded no provision to the ACL on OBSC exposures compared to $750 thousand for the same period in 2023. The ACL on OBSC exposures for the nine months ended September 30, 2023 includes the day one provision for unfunded commitments related to the HSBI acquisition and an increase in unfunded commitments.
No credit loss estimate is reported for OBSC exposures that are unconditionally cancellable by the Company or for undrawn amounts under such arrangements that may be drawn prior to the cancellation on the arrangement.