v3.26.1
Derivatives and Hedging Activities (Tables)
6 Months Ended
Jun. 30, 2026
Derivatives and Hedging Activities [Abstract]  
Schedule of Fair Value of Corporation’s Derivative Instruments

The following table summarizes the notional amounts and fair value of the Corporation’s derivative instruments at June 30, 2026 and December 31, 2025 (in thousands):

 

    As of June 30, 2026   As of December 31. 2025
    Notional /
Contract
  Asset   Liability   Notional /
Contract
  Asset   Liability
Line Item in the Balance Sheet Which   Amount   Fair Value (a)   Fair Value (b)   Amount   Fair Value (a)   Fair Value (b)
the Hedged Item is Included   $   $   $   $   $   $
Derivatives used for hedging instruments:                                                
Interest rate swap contracts :                                                
Securities available for sale (fair value hedges)     166,744       2,549             70,081       811        
Securities available for sale (fair value hedges)                       105,694             851  
Short-term borrowings (cash flow hedges)     60,000             13       60,000             207  
Total derivatives designated for hedging     226,744       2,549       13       235,775       811       1,058  

 

(a) Included in Other assets on the Consolidated Balance Sheet.

(b) Included in Other liabilities on the Consolidated Balance Sheet.

 

Schedule of Components for Interest Rate Swaps Designed as Hedging Instruments

The following table is a summary of components for interest rate swaps designed as hedging instruments at June 30, 2026 and December 31, 2025 (in thousands):

 

    Weighted
Average Pay
Rate
  Weighted
Average
Receive Rate
  Weighted
Average
Maturity
(In Years)
             
June 30, 2026                        
Cash flow hedge designation                        
Interest rate swaps-short term borrowings     3.84%       3.63%       0.4  
Fair value hedge designation                        
Interest rate swaps - available for sale securities     3.65%       3.67%       12.1  
                         
December 31, 2025                        
Cash flow hedge designation                        
Interest rate swaps-short term borrowings     3.84%       3.98%       0.9  
Fair value hedge designation                        
Interest rate swaps - available for sale securities     3.65%       3.82%       12.6  
Schedule of Corporation’s Derivative Financial Instruments on OCI and Net Income

The following table summarizes the effect of the Corporation’s derivative financial instruments on OCI and net income for the three and six months ended June 30, 2026 and 2025 (in thousands):

 

    Three Months ended June 30,     Six Months ended June 30,      
    2026     2025     2026     2025     Location of Gains (losses) Recognized
    $     $     $     $     from AOCI into Income
                             
Derivatives Used for hedging instruments:                                
Fair value hedges     (11 )     318       (4 )     653     Interest income - securities
Cash flow hedges     31       (77 )     55       (154 )   Interest expense - short term borrowings
                                     

 

    2026     2025     2026     2025     Location of Gains (losses) Recognized
    $     $     $     $     in Income
Derivatives Used for hedging instruments:                                
Fair value hedges     0       26       (33 )     27     Interest income - securities