v3.26.1
Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Financial Instruments [Abstract]  
Schedule of Notional Amount and Fair Value of the Company’s Interest Rate Swaps

The table below presents the notional amount and fair value of the Company’s interest rate swaps, IRLCs and forward contracts utilized as of June 30, 2026, and December 31, 2025.

 

   June 30, 2026   December 31, 2025 
   Notional   Fair   Notional   Fair 
($ in thousands)  Amount   Value   Amount   Value 
Asset Derivatives                
Derivatives not designated as hedging instruments                
Interest rate swaps associated with loans  $124,244   $2,592   $118,701   $1,465 
IRLCs   12,634    4    10,701    15 
Forward contracts   
-
    
-
    
-
    
-
 
Total contracts  $136,878   $2,596   $129,402   $1,480 
                     
Liability Derivatives                    
Derivatives not designated as hedging instruments                    
Interest rate swaps associated with loans  $124,244   $(2,592)  $118,701   $(1,465)
IRLCs   
-
    
-
    
-
    
-
 
Forward contracts   15,000    (26)   11,000    (30)
Total contracts  $139,244   $(2,618)  $129,701   $(1,495)
Schedule of Consolidated Statements of Income for Non-Hedging Derivative Financial Instruments

The following table presents the amounts included in the condensed consolidated statements of income for non-hedging derivative financial instruments for the three and six months ended June 30, 2026, and 2025.

 

      Three Months Ended
June 30,		   Six Months Ended
June 30,		 
($ in thousands)  Statement of income classification  2026   2025   2026   2025 
Interest rate swap contracts  Other income  $-   $135   $120   $242 
IRLCs  Gain on sale of mortgage loans & OMSR   94    (185)   (11)   (167)
Forward contracts  Gain on sale of mortgage loans & OMSR   (174)   71    4    27 
Schedule of Offsetting of Financial Assets and Derivative Assets

The following table shows the offsetting of financial assets and derivative assets at June 30, 2026, and at December 31, 2025.

 

   Gross
amounts of		   Gross
amounts
offset in the		   Net amounts of
assets
presented in the		   Gross amounts not offset in the
consolidated balance sheet		     
($ in thousands)  recognized assets   consolidated balance sheet   consolidated balance sheet   Financial instruments   Cash collateral
received		   Net amount 
June 30, 2026                        
Interest rate swaps  $2,887   $295   $2,592   $
   -
   $2,450   $142 
                               
December 31, 2025                              
Interest rate swaps  $2,525   $1,060   $1,465   $
-
   $1,220   $245 
Schedule of Offsetting of Financial Liabilities and Derivative Liabilities

The following table shows the offsetting of financial liabilities and derivative liabilities at June 30, 2026, and at December 31, 2025.

 

   Gross
amounts of		   Gross
amounts
offset in the		   Net amounts of
liabilities
presented in the		   Gross amounts not offset in the
consolidated balance sheet		     
($ in thousands)  recognized
liabilities		   consolidated
balance sheet		   consolidated
balance sheet		   Financial
instruments		   Cash collateral
pledged		   Net amount 
June 30, 2026                        
Interest rate swaps  $2,887   $295   $2,592   $
   -
   $
    -
   $2,592 
                               
December 31, 2025                              
Interest rate swaps  $2,525   $1,060   $1,465   $
-
   $
-
   $1,465