v3.26.1
Note 12 - Derivatives and Hedging Activities (Tables)
3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional Amounts of Derivative Instruments

The following tables present the notional amounts of derivatives designated as fair value hedging instruments at March 31, 2026, and December 31, 2025. QNB pledges cash or securities to cover the negative fair value of derivatives instruments. Cash collateral associated with the derivative instruments are not added to or netted against the fair value amounts.

 

 

 

Interest Rate Swaps-Fair Value Hedges

 

 

 

At March 31, 2026

 

 

At December 31, 2025

 

Balance Sheet Classification

 

Notional Amount

 

 

Amortized Cost of Hedged Portfolio

 

 

Cumulative Amount of Fair Value Hedging Adjustment Included in Carrying Amount of Hedged Asset

 

 

Notional Amount

 

 

Amortized Cost of Hedged Portfolio

 

 

Cumulative Amount of Fair Value Hedging Adjustment Included in Carrying Amount of Hedged Asset

 

Investment Securities Available-for-sale:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

State and municipal securities

 

$

75,000

 

 

$

95,870

 

 

$

(82

)

 

$

75,000

 

 

$

96,037

 

 

$

(583

)

U.S. Government agencies and GSE mortgage-backed securities

 

 

192,304

 

 

 

268,936

 

 

 

(57

)

 

 

201,364

 

 

 

276,329

 

 

 

(1,109

)

Total

 

$

267,304

 

 

$

364,806

 

 

$

(139

)

 

$

276,364

 

 

$

372,366

 

 

$

(1,692

)

 

Schedule of Derivative Designated as Fair Value Hedging Instruments of Statements of Income

The following table presents amounts included in the Consolidated Statements of Income for derivatives designated as fair value hedging instruments for the three months ended March 31, 2026 and 2025.

 

 

For the Three Months Ended March 31,

 

Income Sheet Classification

 

2026

 

 

2025

 

Interest and dividends on available-for-sale and equity securities:

 

 

 

 

 

 

State and municipal securities

 

 

 

 

 

 

Recognized on fair value hedge

 

$

(674

)

 

$

831

 

Recognized on hedge portfolio

 

 

702

 

 

 

(675

)

Recognized on remeasurement of fair value hedge

 

 

(9

)

 

 

15

 

U.S. Government agencies and GSE mortgage-backed securities

 

 

 

 

 

 

Recognized on fair value hedge

 

 

(1,814

)

 

 

2,468

 

Recognized on hedge portfolio

 

 

1,837

 

 

 

(2,060

)

Recognized on remeasurement of fair value hedge

 

 

(36

)

 

 

(4

)

Total

 

$

6

 

 

$

575