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Derivatives and Hedging Activities (Tables) | 3 Months Ended
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Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location | The following table summarizes the fair values of our derivative instruments on a gross and net basis for the periods indicated. The derivative asset and liability balances are presented on a gross basis, prior to the application of bilateral collateral and master netting agreements, but after the variation margin payments with central clearing organizations have been applied as settlement, as applicable. Total derivative assets and liabilities are adjusted to account for the impact of legally enforceable master netting agreements that allow us to settle all derivative contracts with a single counterparty on a net basis and to offset the net derivative position with the related cash collateral. Securities collateral related to legally enforceable master netting agreements is not offset on the consolidated balance sheets.
| March 31, 2025 |  | December 31, 2024
| Notional Amount | Consolidated Balance Sheet Location | Estimated Fair Value |  | Notional Amount | Consolidated Balance Sheet Location | Estimated Fair Value
Derivatives designated as accounting hedges: |  |  |  |  |  |  |
Interest rate swap contracts | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Derivatives not designated as accounting hedges: |  |  |  |  |  |  |
Interest rate swap contracts | 1,390.7 |  |  | 35.2 |  |  | 1,415.4 |  |  | 44.9 |
Interest rate lock commitments | 9.2 |  |  | 0.1 |  |  | 2.7 |  |  | — |
Forward loan sales contracts | — |  |  | — |  |  | 2.4 |  |  | — |
Derivative assets | $ | 1,399.9 |  | Other assets | $ | 35.3 |  |  | $ | 1,420.5 |  | Other assets | $ | 44.9 |
Derivatives designated as accounting hedges: |  |  |  |  |  |  |
Interest rate collars | $ | 300.0 |  |  | $ | 0.6 |  |  | $ | 300.0 |  |  | $ | 1.0 |
Interest rate swap contracts | 300.0 |  |  | 1.0 |  |  | 300.0 |  |  | 2.8 |
Derivatives not designated as accounting hedges: |  |  |  |  |  |  |
Interest rate swap contracts | 1,390.7 |  |  | 105.7 |  |  | 1,415.4 |  |  | 130.0 |
Risk participation agreements | 89.0 |  |  | — |  |  | 91.6 |  |  | — |
Forward loan sales contracts | 6.7 |  |  | — |  |  | — |  |  | — |
Derivative liabilities | $ | 2,086.4 |  | Accounts payable and accrued expenses | $ | 107.3 |  |  | $ | 2,107.0 |  | Accounts payable and accrued expenses | $ | 133.8 |
Schedule of Derivative Instruments | The tables below present the gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of the dates indicated:
| March 31, 2025
| Gross Assets Recognized |  | Gross Assets Offset in the Balance Sheet |  | Net Assets in the Balance Sheet |  | Financial Instruments |  | Cash Collateral Received (1) |  | Net Amount
Interest rate swap and collar contracts | $ | 35.2 |  |  | $ | — |  |  | $ | 35.2 |  |  | $ | — |  |  | $ | 35.3 |  |  | $ | (0.1) |
Interest rate lock commitments | 0.1 |  |  | — |  |  | 0.1 |  |  | — |  |  | — |  |  | 0.1 |
Total derivatives | 35.3 |  |  | — |  |  | 35.3 |  |  | — |  |  | 35.3 |  |  | — |
Total assets | $ | 35.3 |  |  | $ | — |  |  | $ | 35.3 |  |  | $ | — |  |  | $ | 35.3 |  |  | $ | — |
(1) Netting adjustments represent the amounts recorded to convert derivatives assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The application of the collateral cannot reduce the net derivative position below zero. Therefore, excess collateral, if any, is not reflected above.
| Gross Liabilities Recognized |  | Gross Liabilities Offset in the Balance Sheet |  | Net Liabilities in the Balance Sheet |  | Financial Instruments |  | Cash Collateral Posted |  | Net Amount
Interest rate swap and collar contracts | $ | 107.3 |  |  | $ | — |  |  | $ | 107.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 107.3 |
Total derivatives | 107.3 |  |  | — |  |  | 107.3 |  |  | — |  |  | — |  |  | 107.3 |
Repurchase agreements(2) | 528.0 |  |  | — |  |  | 528.0 |  |  | — |  |  | — |  |  | 528.0 |
Total liabilities | $ | 635.3 |  |  | $ | — |  |  | $ | 635.3 |  |  | $ | — |  |  | $ | — |  |  | $ | 635.3 |
(2) Repurchase agreements are fully collateralized by investment securities.
| December 31, 2024
| Gross Assets Recognized |  | Gross Assets Offset in the Balance Sheet |  | Net Assets in the Balance Sheet |  | Financial Instruments |  | Cash Collateral Received(1) |  | Net Amount
Interest rate swap and collar contracts | $ | 44.9 |  |  | $ | — |  |  | $ | 44.9 |  |  | $ | — |  |  | $ | 42.4 |  |  | $ | 2.5 |
Total derivatives | 44.9 |  |  | — |  |  | 44.9 |  |  | — |  |  | 42.4 |  |  | 2.5 |
Total assets | $ | 44.9 |  |  | $ | — |  |  | $ | 44.9 |  |  | $ | — |  |  | $ | 42.4 |  |  | $ | 2.5 |
(1) Netting adjustments represent the amounts recorded to convert derivatives assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The application of the collateral cannot reduce the net derivative position below zero. Therefore, excess collateral, if any, is not reflected above.
| Gross Liabilities Recognized |  | Gross Liabilities Offset in the Balance Sheet |  | Net Liabilities in the Balance Sheet |  | Financial Instruments |  | Cash Collateral Posted |  | Net Amount
Interest rate swap and collar contracts | $ | 133.8 |  |  | $ | — |  |  | $ | 133.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 133.8 |
Total derivatives | 133.8 |  |  | — |  |  | 133.8 |  |  | — |  |  | — |  |  | 133.8 |
Repurchase agreements(2) | 523.9 |  |  | — |  |  | 523.9 |  |  | — |  |  | — |  |  | 523.9 |
Total liabilities | $ | 657.7 |  |  | $ | — |  |  | $ | 657.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 657.7 |
(2) Repurchase agreements are fully collateralized by investment securities.

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8 Reference 5: 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 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5 Reference 9: 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 + Details
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