v3.25.2
Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table presents the notional amounts, fair values and classification on consolidated balance sheets of the Company's derivatives as of June 30, 2025 and December 31, 2024:
Derivative AssetsDerivative Liabilities
($ in thousands)Notional AmountBalance Sheet LocationFair ValueNotional AmountBalance Sheet LocationFair Value
June 30, 2025
Derivatives designated as hedging instruments:
Interest rate products$25,000 Other assets$6 $50,000 Other liabilities$945 
Total derivatives designated as hedging instruments$6 $945 
December 31, 2024
Derivatives designated as hedging instruments:
Interest rate products$25,000 Other assets$368 $50,000 Other liabilities$579 
Total derivatives designated as hedging instruments$368 $579 
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The following table presents the pre-tax changes in AOCI from cash flow hedges for the three and six months ended June 30, 2025 and 2024:
Derivatives in Subtopic 815-20 Hedging Relationships
($ in thousands)
Amount of Gain (Loss) Recognized in AOCI on Derivative Amount of Gain (Loss) Recognized in AOCI Included ComponentAmount of Gain (Loss) Recognized in AOCI Excluded ComponentLocation of Gain (Loss) Recognized from AOCI into IncomeAmount of Gain (Loss) Reclassified from AOCI into Income Amount of Gain (Loss) Reclassified from AOCI into Income Included ComponentAmount of Gain (Loss) Reclassified from AOCI into Income Excluded Component
Three Months Ended June 30, 2025
Derivatives in cash flow hedging relationships: 
Interest rate products$(150)$(150)$— Interest expense$29 $29 $— 
Total$(150)$(150)$— $29 $29 $— 
Three Months Ended June 30, 2024
Derivatives in cash flow hedging relationships:
Interest rate products$(254)$(254)$— Interest expense$81 $81 $— 
Total$(254)$(254)$— $81 $81 $— 
Six Months Ended June 30, 2025
Derivatives in cash flow hedging relationships:
Interest rate products$(632)$(632)$— Interest expense$60 $60 $— 
Total$(632)$(632)$— $60 $60 $— 
Six Months Ended June 30, 2024
Derivatives in cash flow hedging relationships:
Interest rate products$(254)$(254)$— Interest expense$81 $81 $— 
Total$(254)$(254)$— $81 $81 $— 
Schedule of Derivative Instruments, Effect on Statement of Income
The following table presents the pre-tax changes of the Company’s derivative financial instruments on the consolidated statement of income for the three and six months ended June 30, 2025 and 2024:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
($ in thousands)Interest ExpenseInterest ExpenseInterest ExpenseInterest Expense
Total amounts presented in the consolidated statement of income$29 $81 $60 $81 
The effects of cash flow hedging:
Gain (loss) on cash flow hedging relationships
Interest contracts
Amount of loss reclassified from AOCI into income$29 $81 $60 $81 
Amount of gain (loss) reclassified from AOCI into income as a result that a forecasted transaction was no longer probable of occurring— — — — 
Amount of loss reclassified from AOCI into income - included component29 81 60 81 
Amount of gain (loss) reclassified from AOCI into income - excluded component— — — — 
Schedule of Offsetting Assets
The tables below present a gross presentation, the effects of offsetting, and a net presentation of the Company's derivatives as of June 30, 2025 and December 31, 2024. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the consolidated balance sheet:
Gross Amounts of Recognized AssetsGross Amounts Offset in the Balance SheetNet Amounts of Assets presented in the Balance SheetGross Amounts Not Offset in the Balance Sheet
($ in thousands)Financial InstrumentsCash Collateral ReceivedNet Amount
June 30, 2025
Derivatives assets$6 $— $6 $— $6 $— 
Total$6 $— $6 $— $6 $— 
December 31, 2024
Derivatives assets$368 $— $368 $— $368 $— 
Total$368 $— $368 $— $368 $— 
Gross Amounts of Recognized LiabilitiesGross Amounts Offset in the Balance SheetNet Amounts of Liabilities presented in the Balance SheetGross Amounts Not Offset in the Balance Sheet
($ in thousands)Financial InstrumentsCash Collateral PostedNet Amount
June 30, 2025
Derivatives liabilities$945 $— $945 $— $945 $— 
Total$945 $— $945 $— $945 $— 
December 31, 2024
Derivatives liabilities$579 $— $579 $— $579 $— 
Total$579 $— $579 $— $579 $— 
Schedule of Offsetting Liabilities
The tables below present a gross presentation, the effects of offsetting, and a net presentation of the Company's derivatives as of June 30, 2025 and December 31, 2024. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the consolidated balance sheet:
Gross Amounts of Recognized AssetsGross Amounts Offset in the Balance SheetNet Amounts of Assets presented in the Balance SheetGross Amounts Not Offset in the Balance Sheet
($ in thousands)Financial InstrumentsCash Collateral ReceivedNet Amount
June 30, 2025
Derivatives assets$6 $— $6 $— $6 $— 
Total$6 $— $6 $— $6 $— 
December 31, 2024
Derivatives assets$368 $— $368 $— $368 $— 
Total$368 $— $368 $— $368 $— 
Gross Amounts of Recognized LiabilitiesGross Amounts Offset in the Balance SheetNet Amounts of Liabilities presented in the Balance SheetGross Amounts Not Offset in the Balance Sheet
($ in thousands)Financial InstrumentsCash Collateral PostedNet Amount
June 30, 2025
Derivatives liabilities$945 $— $945 $— $945 $— 
Total$945 $— $945 $— $945 $— 
December 31, 2024
Derivatives liabilities$579 $— $579 $— $579 $— 
Total$579 $— $579 $— $579 $—