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Derivative Instruments
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments Derivative Instruments
(In Thousands)
The Company uses certain derivative instruments to meet the needs of customers as well as to manage the interest rate risk associated with certain transactions.
Non-hedge derivatives
The Company enters into derivative instruments that are not designated as hedging instruments to help its commercial customers manage their exposure to interest rate fluctuations (which are included within the “interest rate contracts” line items in the tables below). To mitigate the interest rate risk associated with these customer contracts, the Company enters into an offsetting derivative contract position. The Company manages its credit risk, or potential risk of default by its commercial customers, through credit limit approval and monitoring procedures.
The Company enters into interest rate lock commitments with its customers to mitigate the interest rate risk associated with the commitments to fund fixed-rate and adjustable-rate residential mortgage loans. The Company also enters into forward commitments to sell residential mortgage loans to secondary market investors.
The following table provides a summary of the Company’s derivatives not designated as hedging instruments as of the dates presented:
 Balance SheetMarch 31, 2026December 31, 2025
 LocationNotional AmountFair ValueNotional AmountFair Value
Derivative assets:
  Interest rate contractsOther Assets$1,858,019 $22,899 $1,784,028 $28,590 
  Interest rate lock commitmentsOther Assets114,909 1,604 92,881 1,419 
Forward commitmentsOther Assets207,000 1,947 33,000 53 
Totals$2,179,928 $26,450 $1,909,909 $30,062 
Derivative liabilities:
  Interest rate contractsOther Liabilities$1,858,019 $22,901 $1,784,028 $28,595 
Interest rate lock commitmentsOther Liabilities25,082 122 5,904 14 
  Forward commitmentsOther Liabilities49,000 138 196,000 593 
Totals$1,932,101 $23,161 $1,985,932 $29,202 
Gains and losses included in the Consolidated Statements of Income related to the Company’s derivative financial instruments were as follows as of the dates presented:
Three Months Ended March 31,
 20262025
Interest rate contracts:
Included in interest income on loans$7,380 $2,889 
Interest rate lock commitments:
Included in mortgage banking income77 1,448 
Forward commitments
Included in mortgage banking income2,349 (2,519)
Total$9,806 $1,818 
Derivatives designated as cash flow hedges
Cash flow hedge relationships mitigate exposure to the variability of future cash flows or other forecasted transactions. The Company uses both interest rate swap contracts and interest rate collars in an effort to manage future interest rate exposure on borrowings and loans, respectively. The swap hedging strategy converts the variable interest rate on the forecasted borrowings to a fixed interest rate. The collar hedging strategy limits the benefit to interest income when rates exceed the cap but protects interest income from interest rate fluctuations below the floor strike rate.
The following table provides a summary of the Company’s derivatives designated as cash flow hedges as of the dates presented:
 Balance SheetMarch 31, 2026December 31, 2025
 LocationNotional AmountFair ValueNotional AmountFair Value
Derivative assets:
  Interest rate swapsOther Assets$130,000 $16,937 $130,000 $16,907 
  Interest rate collarsOther Assets450,000 49 450,000 129 
Total$580,000 $16,986 $580,000 $17,036 
The impact on other comprehensive income for the three months ended March 31, 2026 and 2025, is described in Note 12, “Other Comprehensive Income (Loss).” The impact on earnings is reflected in interest income on loans and interest expense on borrowings in the Consolidated Statements of Income.
Changes in fair value of cash flow hedges are, to the extent that the hedging relationship is effective, recorded as other comprehensive income and are subsequently recognized in earnings at the same time that the hedged item is recognized in earnings. The impact on other comprehensive income for the three months ended March 31, 2026 and 2025 is discussed in Note 12, “Other Comprehensive Income.”
Derivatives designated as fair value hedges
The Company enters into interest rate swap agreements to manage the fair value exposure on certain of the Company’s fixed-rate subordinated and fixed-rate available-for-sale securities. The agreements convert a fixed rate of interest to a variable rate of interest based on SOFR by using pay-variable, receive-fixed rate interest rate swaps. The Company expects the hedges to remain effective during the remaining terms of the swaps which run through September 2031.
The following table provides a summary of the Company's derivatives designated as fair value hedges as of the dates presented:
 Balance SheetMarch 31, 2026December 31, 2025
 LocationNotional AmountFair ValueNotional AmountFair Value
Derivative assets:
  Interest rate swaps - securitiesOther Assets$22,410 $142 $— $— 
Totals$22,410 $142 $— $— 
Derivative liabilities:
  Interest rate swaps - subordinated notesOther Liabilities$100,000 $12,253 $100,000 $12,280 
Interest rate swaps - securitiesOther Liabilities$20,800 $139 $3,430 $2 
Totals$120,800 $12,392 $100,000 $12,282 
The following table presents the effects of the Company’s fair value hedge relationships on the Consolidated Statements of Income for the periods presented:
 Amount of Gain (Loss) Recognized in Income
Income StatementThree Months Ended March 31,
 Location20262025
Derivative liabilities:
  Interest rate swaps - subordinated notesInterest Expense$(27)$2,238 
Interest rate swaps - securitiesInterest Income43 — 
Derivative liabilities - hedged items:
  Interest rate swaps - subordinated notesInterest Expense$27 $(2,238)
Interest rate swaps - securitiesInterest Income(43)— 
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 ItemCumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Item
Balance Sheet LocationMarch 31, 2026December 31, 2025March 31, 2026December 31, 2025
Long-term debt$86,981 $86,911 $12,253 $12,280 
Securities available for sale31,952 17,780 49 6 

Credit Derivatives
The Company has both bought and sold credit protection in the form of risk participation agreements. These risk participations, which meet the definition of credit derivatives, were entered into in the ordinary course of business to help the Company’s commercial customers manage their exposure to interest rate fluctuations. Risk participations in which credit protection has been purchased entitle the Company to receive a payment from the counterparty if the customer fails to make payment on any amounts due to the Company upon early termination of the swap transaction. The Company’s bought risk participation agreements have a notional amount of $252,165 and maturities between 2028 and 2032. For contracts where the Company sold credit protection, it would be required to make payment to the counterparty if the customer fails to make payment on any amounts due to the counterparty upon early termination of the swap transaction. The Company’s sold risk participation agreements have a notional amount of $64,584 and have maturities between 2026 and 2032.
The maximum potential amount of future payments under these risk participation agreements as of March 31, 2026 was approximately $937. This scenario occurs if variable interest rates were at zero percent and all counterparties defaulted with zero recovery. The fair value of risk participation agreements at March 31, 2026 and 2025 was immaterial.
Offsetting
Certain financial instruments, including derivatives, may be eligible for offset in the consolidated balance sheet when the “right of setoff” exists or when the instruments are subject to an enforceable master netting agreement, which includes the right of the non-defaulting party or non-affected party to offset recognized amounts, including collateral posted with the counterparty, to
determine a net receivable or net payable upon early termination of the agreement. Certain of the Company’s derivative instruments are subject to master netting agreements; however, the Company has not elected to offset such financial instruments in the Consolidated Balance Sheets. Initial margin and variation margin is accounted for as collateral. When the Company posts cash for margin, it is recognized as a receivable. When margin is posted or received in the form of securities, there is no accounting recognition for the pledge of securities, unless there is an event of default by one of the parties to the agreement. For centrally cleared derivatives, variation margin is accounted for as settlement of the derivative fair value. 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
March 31,
2026		December 31, 2025March 31,
2026		December 31, 2025
Gross amounts recognized$25,018 $21,867 $18,470 $17,650 
Gross amounts offset in the Consolidated Balance Sheets— — — — 
Net amounts presented in the Consolidated Balance Sheets25,018 21,867 18,470 17,650 
Gross amounts not offset in the Consolidated Balance Sheets
Financial instruments - derivative assets available for offset18,331 17,110 18,331 17,110 
Financial collateral (cash) pledged— — — 20 
Net amounts$6,687 $4,757 $139 $520