Annual report pursuant to Section 13 and 15(d)

Derivative Financial Instruments (Table)

v3.22.0.1
Derivative Financial Instruments (Table)
12 Months Ended
Dec. 31, 2021
Derivative Instrument Detail [Abstract]  
Summary of Interest Rate Swaps Related to Company's Loan Hedging Program

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

 

 

 

December 31, 2021

 

 

 

(Dollars in thousands)

 

Interest rate swaps on loans with customers

 

 

 

 

Notional amount

 

$

242,120

 

Weighted average remaining term (years)

 

 

5.81

 

Receive fixed rate (weighted average)

 

 

4.68

%

Pay variable rate (weighted average)

 

 

3.41

%

Estimated fair value

 

$

1,401

 

 

 

 

 

December 31, 2021

 

 

 

(Dollars in thousands)

 

Interest rate swaps on loans with correspondents

 

 

 

 

Notional amount

 

$

242,120

 

Weighted average remaining term (years)

 

 

5.81

 

Pay fixed rate (weighted average)

 

 

4.68

%

Receive variable rate (weighted average)

 

 

3.41

%

Estimated fair value

 

$

1,401

 

Summary of Potential Affect of Derivative Master Netting Arrangements The following table illustrates the potential affect of the Company’s derivative master netting arrangements, by type of financial instrument, on the Company’s balance sheet as of December 31, 2021 (dollars in thousands):

 

 

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

Gross Amounts of Financial Instruments Not Offset in the Balance Sheet

 

 

 

Gross Amounts Recognized

 

Amounts offset in the Balance Sheet

 

Net Amounts in the Balance  Sheet

 

Netting Adjustment Per Applicable Master Netting Agreements

 

Gross Amounts Recognized

 

Net Amount

 

Liability  Derivatives

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Rate Swaps

 

$

(1,918

)

$

517

 

$

(1,401

)

$

-

 

$

-

 

$

(1,401

)