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Derivative Instruments (Tables)
12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of derivative financial instruments
The following table provides a summary of the Company’s derivatives not designated as hedging instruments as of the dates presented:
 Balance SheetDecember 31, 2023December 31, 2022
 LocationNotional AmountFair ValueNotional AmountFair Value
Derivative assets:
  Interest rate contractsOther Assets$532,279 $13,567 $258,646 $11,354 
  Interest rate lock commitmentsOther Assets61,957 1,483 62,901 1,231 
Forward commitmentsOther Assets20,000 43 84,000 484 
Totals$614,236 $15,093 $405,547 $13,069 
Derivative liabilities:
  Interest rate contractsOther Liabilities$535,725 $13,567 $258,646 $11,354 
Interest rate lock commitmentsOther Liabilities2,292 — 19,488 98 
  Forward commitmentsOther Liabilities165,000 2,605 73,000 1,198 
Totals$703,017 $16,172 $351,134 $12,650 
The following table provides a summary of the Company’s derivatives designated as cash flow hedges as of the dates presented:
 Balance SheetDecember 31, 2023December 31, 2022
 LocationNotional AmountFair ValueNotional AmountFair Value
Derivative assets:
  Interest rate swapsOther Assets$130,000 $21,486 $130,000 $24,514 
  Interest rate collarsOther Assets200,000 572 200,000 464 
Totals$330,000 $22,058 $330,000 $24,978 
Derivative liabilities:
  Interest rate swapsOther Liabilities$— $— $— $— 
  Interest rate collarsOther Liabilities250,000 384 250,000 746 
Totals$250,000 $384 $250,000 $746 
The following table provides a summary of the Company's derivatives designated as fair value hedges as of the dates presented:
 Balance SheetDecember 31, 2023December 31, 2022
 LocationNotional AmountFair ValueNotional AmountFair Value
Derivative liabilities:
  Interest rate swapsOther Liabilities$100,000 $17,052 $100,000 $19,789 
Schedule of gains (losses) on derivative financial instruments included in the Consolidated Statements of Income
Gains (losses) included in the Consolidated Statements of Income related to the Company’s derivative financial instruments were as follows, as of the dates presented:
Year Ended December 31,
 202320222021
Interest rate contracts:
Included in interest income on loans$8,156 $2,470 $2,027 
Interest rate lock commitments:
Included in mortgage banking income319 (4,128)(14,563)
Forward commitments
Included in mortgage banking income(1,848)(645)5,021 
Total$6,627 $(2,303)$(7,515)
The following table presents the effects of the Company’s fair value hedge relationships on the Consolidated Statements of Income for the periods presented:
 Amount of Gain (Loss) Recognized in Income
Income StatementYear ended December 31,
 Location202320222021
Derivative liabilities:
  Interest rate swaps - subordinated notesInterest Expense$2,737 $(14,378)$(5,202)
Derivative liabilities - hedged items:
  Interest rate swaps - subordinated notesInterest Expense$(2,737)$14,378 $5,202 
Schedule of derivatives instruments statements of financial performance and financial position, location
The following table presents the amounts that were recorded in the Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges as of the dates presented:
Carrying Amount of the Hedged LiabilityCumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Liability
Balance Sheet LocationDecember 31, 2023December 31, 2022December 31, 2023December 31, 2022
Long-term debt$81,791 $78,881 $17,052 $19,789 
Schedule of offsetting Assets The following table presents the Company’s gross derivative positions as recognized in the Consolidated Balance Sheets as well as the net derivative positions, including collateral pledged to the extent the application of such collateral did not reduce the net derivative liability position below zero, had the Company elected to offset those instruments subject to an enforceable master netting agreement as of the dates presented:
Offsetting Derivative AssetsOffsetting Derivative Liabilities
December 31,
2023
December 31,
2022
December 31,
2023
December 31,
2022
Gross amounts recognized$29,284 $36,493 $26,425 $22,056 
Gross amounts offset in the consolidated balance sheets— — — — 
Net amounts presented in the consolidated balance sheets29,284 36,493 26,425 22,056 
Gross amounts not offset in the consolidated balance sheets
Financial instruments23,863 22,056 23,863 22,056 
Financial collateral pledged— — 1,074 — 
Net amounts$5,421 $14,437 $1,488 $— 
Schedule of offsetting Liabilities The following table presents the Company’s gross derivative positions as recognized in the Consolidated Balance Sheets as well as the net derivative positions, including collateral pledged to the extent the application of such collateral did not reduce the net derivative liability position below zero, had the Company elected to offset those instruments subject to an enforceable master netting agreement as of the dates presented:
Offsetting Derivative AssetsOffsetting Derivative Liabilities
December 31,
2023
December 31,
2022
December 31,
2023
December 31,
2022
Gross amounts recognized$29,284 $36,493 $26,425 $22,056 
Gross amounts offset in the consolidated balance sheets— — — — 
Net amounts presented in the consolidated balance sheets29,284 36,493 26,425 22,056 
Gross amounts not offset in the consolidated balance sheets
Financial instruments23,863 22,056 23,863 22,056 
Financial collateral pledged— — 1,074 — 
Net amounts$5,421 $14,437 $1,488 $—