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Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2026

Derivative Financial Instruments

Schedule of derivative financial instruments


							March 31, 2026									December 31, 2025
		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		$	2,615		$	53		$	—		$	2,615		$	44		$	—


Not designated hedges of interest rate risk:
Customer related interest rate contracts:
Matched interest rate swaps with borrowers		Other Assets and Other Liabilities			15,530,662			111,165			560,264			14,912,622			143,879			554,433
Matched interest rate swaps with counterparty ⁽¹⁾		Other Assets			15,340,807			78,112			—			14,719,305			77,799			—

Economic hedges of interest rate risk:
Pay floating rate swap with counterparty		Other Assets			2,663,000			25			—			2,519,000			113			—

Not designated hedges of interest rate risk – mortgage banking activities:
Contracts used to hedge mortgage servicing rights		Other Assets and Other Liabilities			271,000			—			2,142			192,000			69			—
Contracts used to hedge mortgage pipeline		Other Assets and Other Liabilities			128,500			1,977			—			81,000			982			315
Total derivatives				$	33,936,584		$	191,332		$	562,406		$	32,426,542		$	222,886		$	554,748

(1)

The fair value of the interest rate swap derivative assets was reduced by $373.2 million and $333.7 million at March 31, 2026, and December 31, 2025, respectively, in variation margin payments applicable to swaps centrally cleared through LCH and CME.

Schedule of derivative, offsetting assets and liabilities


					March 31, 2026									December 31, 2025
		Notional			Estimated Fair Value						Notional			Estimated Fair Value
(Dollars in thousands)		Amount			Gain			Loss			Amount			Gain			Loss
Interest rate contracts subject to master netting agreements included in table above
Total gross derivative instruments, before netting		$	1,791,216		$	83,072		$	2,704		$	1,844,842		$	81,240		$	3,781
Less: Netting adjustment			192,450			(2,704)			(2,704)			221,941			(3,781)			(3,781)
Total gross derivative instruments, after netting			1,791,216		$	80,368		$	—			1,844,842		$	77,459		$	—

*

As of March 31, 2026, and December 31, 2025, counterparties provided $28.9 million and $25.9 million, respectively, of cash collateral to the Company to secure swap asset positions that were not centrally cleared, which is included in Interest-bearing Deposits within Total Liabilities on the Consolidated Balance Sheets. Counterparties also pledged $27.6 million and $28.1 million in investment securities to secure swap asset positions that were not centrally cleared. The Company provided $1.7 million to counterparties to secure swap positions that were not centrally cleared as of both March 31, 2026, and December 31, 2025.

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, 2026			December 31, 2025
Mortgage loan pipeline		$	120,258		$	55,318
Expected closures			107,610			48,106
Fair value of mortgage loan pipeline commitments			1,199			982
Forward sales commitments			128,500			81,000
Fair value of forward commitments			778			(315)