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Derivative Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2024
Derivative Financial Instruments |
Derivative financial instruments summary | ​
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​ | ​ | ​ | ​ | ​ | ​ | ​ | September 30, 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 | ​ | $ | 4,200 | ​ | $ | 81 | ​ | $ | — | ​ | $ | 9,188 | ​ | $ | 220 | ​ | $ | —
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Not designated hedges of interest rate risk: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Customer related interest rate contracts: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Matched interest rate swaps with borrowers | ​ | Other Assets and Other Liabilities | ​ | ​ | 12,184,085 | ​ | ​ | 133,461 | ​ | ​ | 605,734 | ​ | ​ | 11,327,419 | ​ | ​ | 60,145 | ​ | ​ | 803,539
Matched interest rate swaps with counterparty (1) | ​ | Other Assets and Other Liabilities | ​ | ​ | 12,093,484 | ​ | ​ | 60,467 | ​ | ​ | 184 | ​ | ​ | 11,235,952 | ​ | ​ | 108,820 | ​ | ​ | —
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Economic hedges of interest rate risk: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pay floating rate swap with counterparty | ​ | Other Assets | ​ | ​ | 1,824,400 | ​ | ​ | 28 | ​ | ​ | — | ​ | ​ | 1,660,000 | ​ | ​ | (5) | ​ | ​ | —
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Not designated hedges of interest rate risk – mortgage banking activities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Contracts used to hedge mortgage servicing rights | ​ | Other Assets and Other Liabilities | ​ | ​ | 146,000 | ​ | ​ | — | ​ | ​ | 5 | ​ | ​ | 142,000 | ​ | ​ | 2,605 | ​ | ​ | —
Contracts used to hedge mortgage pipeline | ​ | Other Assets and Other Liabilities | ​ | ​ | 126,000 | ​ | ​ | 1,685 | ​ | ​ | 271 | ​ | ​ | 77,500 | ​ | ​ | 1,154 | ​ | ​ | 947
Total derivatives | ​ | ​ | ​ | $ | 26,378,169 | ​ | $ | 195,722 | ​ | $ | 606,194 | ​ | $ | 24,452,059 | ​ | $ | 172,939 | ​ | $ | 804,486
| (1) | The fair value of the interest rate swap derivative assets was reduced by $412.5 million in variation margin payments applicable to swaps centrally cleared through LCH and CME.
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) |  | September 30, 2024 |  | December 31, 2023 |
Mortgage loan pipeline | ​ | $ | 109,071 | ​ | $ | 65,051 | ​
Expected closures | ​ |  | 96,462 | ​ |  | 54,993 | ​
Fair value of mortgage loan pipeline commitments | ​ |  | 1,685 | ​ |  | 1,154 | ​
Forward sales commitments | ​ |  | 126,000 | ​ |  | 77,500 | ​
Fair value of forward commitments | ​ |  | (271) | ​ |  | (947) | ​
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