Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments (Table)

v3.21.1
Derivative Financial Instruments (Table)
3 Months Ended
Mar. 31, 2021
Derivative Instrument Detail [Abstract]  
Summary of Interest Rate Swaps Related to Company's Loan Hedging Program

At March 31, 2021 and December 31, 2020 interest rate swaps related to the Company’s loan hedging program that were outstanding is presented in the following table:

 

 

March 31, 2021

 

 

December 31, 2020

 

 

(Dollars in thousands)

 

Interest rate swaps on loans with customers

 

 

 

 

 

 

 

Notional amount

$

85,618

 

 

$

85,696

 

Weighted average remaining term (years)

 

4.33

 

 

 

4.58

 

Receive fixed rate (weighted average)

 

3.31

%

 

 

4.23

%

Pay variable rate (weighted average)

 

4.52

%

 

 

4.52

%

Estimated fair value

$

1,492

 

 

$

3,009

 

 

 

March 31, 2021

 

 

December 31, 2020

 

 

(Dollars in thousands)

 

Interest rate swaps on loans with correspondents

 

 

 

 

 

 

 

Notional amount

$

85,618

 

 

$

85,696

 

Weighted average remaining term (years)

 

4.33

 

 

 

4.58

 

Receive fixed rate (weighted average)

 

4.52

%

 

 

4.23

%

Pay variable rate (weighted average)

 

3.31

%

 

 

4.52

%

Estimated fair value

$

1,492

 

 

$

3,009