Annual report pursuant to Section 13 and 15(d)

Derivative Financial Instruments (Table)

v3.20.4
Derivative Financial Instruments (Table)
12 Months Ended
Dec. 31, 2020
Derivative Instrument Detail [Abstract]  
Summary of Interest Rate Swaps Related to Company's Loan Hedging Program

At December 31, 2020 interest rate swaps related to the Company’s loan hedging program that were outstanding is presented in the following table:

 

 

 

December 31, 2020

 

 

 

(Dollars in thousands)

 

Interest rate swaps on loans with customers

 

 

 

 

Notional amount

 

$

85,696

 

Weighted average remaining term (years)

 

 

4.58

 

Receive fixed rate (weighted average)

 

 

4.23

%

Pay variable rate (weighted average)

 

 

4.52

%

Estimated fair value

 

$

3,009

 

 

 

 

December 31, 2020

 

 

 

(Dollars in thousands)

 

Interest rate swaps on loans with correspondents

 

 

 

 

Notional amount

 

$

85,696

 

Weighted average remaining term (years)

 

 

4.58

 

Pay fixed rate (weighted average)

 

 

4.52

%

Receive variable rate (weighted average)

 

 

4.23

%

Estimated fair value

 

$

3,009