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Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Derivative Financial Instruments

Derivative financial instruments summary


							March 31, 2024									December 31, 2023
		Balance Sheet		Notional			Estimated Fair Value						Notional			Estimated Fair Value
(Dollars in thousands)		Location		Amount			Gain			Loss			Amount			Gain			Loss
Fair value hedge of interest rate risk:
Pay fixed rate swap with counterparty		Other Assets		$	9,099		$	373		$	—		$	9,188		$	220		$	—


Not designated hedges of interest rate risk:
Customer related interest rate contracts:
Matched interest rate swaps with borrowers		Other Assets and Other Liabilities			11,513,291			29,960			954,297			11,327,419			60,145			803,539
Matched interest rate swaps with counterparty ⁽¹⁾		Other Assets			11,422,100			144,041			—			11,235,952			108,820			—

Economic hedges of interest rate risk:
Pay floating rate swap with counterparty		Other Assets			1,760,000			(1)			—			1,660,000			(5)			—

Not designated hedges of interest rate risk – mortgage banking activities:
Contracts used to hedge mortgage servicing rights		Other Assets			107,000			381			—			142,000			2,605			—
Contracts used to hedge mortgage pipeline		Other Assets and Other Liabilities			123,000			2,030			491			77,500			1,154			947
Total derivatives				$	24,934,490		$	176,784		$	954,788		$	24,452,059		$	172,939		$	804,486

Schedule of notional value of forward sale commitments and the fair value of those obligations along with the fair value of the mortgage pipeline


(Dollars in thousands)		March 31, 2024			December 31, 2023
Mortgage loan pipeline		$	117,590		$	65,051
Expected closures			102,911			54,993
Fair value of mortgage loan pipeline commitments			2,030			1,154
Forward sales commitments			123,000			77,500
Fair value of forward commitments			(491)			(947)