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DERIVATIVES AND HEDGING ACTIVITIES (Tables)

3 Months Ended

Mar. 31, 2026

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional Amount and Fair Value for Derivatives

The following table presents the notional amounts and fair values for derivatives which are economic hedges. The fair values for derivatives are included in interest receivable and other assets or interest payable and other liabilities on the consolidated balance sheets.

			March 31, 2026												December 31, 2025
(in thousands)			Notional amount						Fair Value						Notional amount						Fair Value
Included in interest receivable and other assets:
Interest rate lock commitments			$	11,493					$	130					$	4,929					$	75
Forward sale commitments			40,792						241						32,217						148
Interest rate swaps			359,106						8,927						398,536						9,406
Futures			6,100						2						—						—
Total derivatives before netting			$	417,491					$	9,300					$	435,682					$	9,629
Netting adjustment/cash collateral (1)									(5,424)												(5,438)
Carrying value on consolidated balance sheets									$	3,876											$	4,191
Included in interest payable and other liabilities:
Interest rate lock commitments			$	1,767					$	10					$	—					$	—
Forward sale commitments			53,115						482						10,363						28
Interest rate swaps			359,106						8,279						398,536						8,543
Futures			—						—						2,200						2
Total derivatives before netting			$	413,988					$	8,771					$	411,099					$	8,573
Netting adjustment/cash collateral (1)									(359)												38
Carrying value on consolidated balance sheets									$	8,412											$	8,611

(1)Includes net cash collateral received of $5.1 million and $5.5 million at March 31, 2026 and December 31, 2025, respectively.

Net Gain (Loss) Recognized on Economic Hedge Derivatives

The following table presents the net gain (loss) recognized on economic hedge derivatives, within the respective line items in the consolidated income statements for the periods indicated:

			Quarter Ended March 31,
(in thousands)			2026						2025
Recognized in noninterest income:
Net gain on loan origination and sale activities (1)			$	178					$	—
Loan servicing income (loss) (2)			(354)						—
Other (3)			(3)						54

(1)Comprised of forward contracts used as an economic hedge of loans held for sale and IRLCs to customers. Included in other noninterest income in the consolidated income statements.

(2)Comprised of futures, U.S. Treasury options and forward contracts used as economic hedges of single family MSRs.

(3)Impact of interest rate swap agreements executed with commercial banking customers and broker dealer counterparties.

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- 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

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-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4CC
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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.

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-Topic 815
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