XML 112 R79.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Derivative Instruments and hedging activities (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure |
Financial instruments designated as cash flow hedges or non-hedging derivatives outstanding | Notional amount Derivative assets Derivative liabilities Statement of Fair value at Statement of Fair value at At December 31, condition December 31, condition December 31, (In thousands) 2024 2023 classification 2024 2023 classification 2024 2023 Derivatives not designated as hedging instruments: Forward contracts $ 11,150 $ 14,930 Trading account debt securities $ 48 $ - Other liabilities $ 1 $ 138 Interest rate caps 95,625 528,125 Other assets 26 2,195 Other liabilities 26 2,213 Indexed options on deposits 93,510 89,730 Other assets 25,949 22,224 - - - Bifurcated embedded options 86,278 82,118 - - - Interest bearing deposits 22,805 18,752 Total derivatives not designated as hedging instruments $ 286,563 $ 714,903 $ 26,023 $ 24,419 $ 22,832 $ 21,103 Total derivative assets and liabilities $ 286,563 $ 714,903 $ 26,023 $ 24,419 $ 22,832 $ 21,103
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | For cash flow hedges, net gains (losses) on derivative contracts that are reclassified from accumulated other comprehensive income (loss) to current period earnings are included in the line item in which the hedged item is recorded and during the period in which the forecasted transaction impacts earnings, as presented in the tables below. Year ended December 31, 2023 (In thousands) Amount of net gain (loss) recognized in OCI on derivatives (effective portion) Classification in the statement of operations of the net gain (loss) reclassified from AOCI into income (effective portion and ineffective portion) Amount of net gain (loss) reclassified from AOCI into income (effective portion) Amount of net gain (loss) recognized in income on derivatives (ineffective portion) Forward contracts $ (30) Mortgage banking activities $ 41 $ - Total $ (30) $ 41 $ - Year ended December 31, 2022 (In thousands) Amount of net gain (loss) recognized in OCI on derivatives (effective portion) Classification in the statement of operations of the net gain (loss) reclassified from AOCI into income (effective portion and ineffective portion) Amount of net gain (loss) reclassified from AOCI into income (effective portion) Amount of net gain (loss) recognized in income on derivatives (ineffective portion) Forward contracts $ 1,636 Mortgage banking activities $ 1,458 $ - Total $ 1,636 $ 1,458 $ -
Amount of Net Gain (Loss) Recognized in Income on Derivatives | For the year ended December 31, 2024, the Corporation recognized a gain of $ 0.6 million (2023 –gain of $ 1.5 million; 2022 – gain of $ 7.7 million) related to its non-hedging derivatives, as detailed in the table below. Amount of Net Gain (Loss) Recognized in Income on Derivatives Year ended Year ended Year ended Classification of Net Gain (Loss) December 31, December 31, December 31, (In thousands) Recognized in Income on Derivatives 2024 2023 2022 Forward contracts Mortgage banking activities $ 34 $ 655 $ 8,094 Interest rate caps Other operating income 18 (18) - Indexed options on deposits Interest expense 7,423 6,201 (5,290) Bifurcated embedded options Interest expense (6,842) (5,326) 4,942 Total $ 633 $ 1,512 $ 7,746

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of gains and losses on derivative instruments included in an entity's trading activities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4F -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4F Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4F -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4F Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 55 -Paragraph 184 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480401/815-10-55-184 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsIncludedInTradingActivitiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration