XML 68 R25.htm IDEA: XBRL DOCUMENT v3.25.2
Derivatives and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Contract Derivative Financial Instruments and Related Hedged Items
The following table summarizes the Company's derivatives designated as hedging instruments as of the dates indicated (in thousands):
 June 30, 2025December 31, 2024
 Notional Amount
Fair Value(1)
Notional Amount
Fair Value(1)
 AssetLiabilityAssetLiability
Derivatives designated as cash flow hedges:   
Interest rate swaps$3,405,000 $5,259 $(191)$4,030,000 $— $(4,011)
Interest rate caps purchased100,000 1,575 — 200,000 3,395 — 
Interest rate collar125,000 17 — 125,000 — (30)
 $3,630,000 $6,851 $(191)$4,355,000 $3,395 $(4,041)
(1)The fair values of derivatives are included in other assets or other liabilities in the consolidated balance sheets.
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location
The following table provides information about the amount of gain (loss) related to derivatives designated as cash flow hedges reclassified from AOCI into interest income or expense for the periods indicated (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Location of gain (loss) reclassified from AOCI into income:
Interest expense on deposits$832 $4,683 $2,177 $9,609 
Interest expense on borrowings5,074 12,018 11,115 27,730 
Interest income on loans(1,305)(810)(2,609)(1,626)
$4,601 $15,891 $10,683 $35,713 
Derivatives Not Designated as Hedging Instruments
The following table summarizes the Company's interest rate derivatives not designated as hedging instruments as of the dates indicated (in thousands):
 June 30, 2025December 31, 2024
 Notional Amount
Fair Value(1)
Notional Amount
Fair Value(1)
 AssetLiabilityAssetLiability
Pay-fixed interest rate swaps$3,321,081 $37,977 $(46,475)$2,767,552 $69,802 $(10,342)
Pay-variable interest rate swaps3,321,081 46,460 (37,977)2,767,552 10,342 (69,802)
Interest rate caps purchased228,417 516 — 210,398 1,418 — 
Interest rate caps sold228,417 — (516)210,398 — (1,418)
RPAs purchased170,070 304 — 126,578 175 — 
RPAs sold505,796 — (414)424,424 — (296)
 $7,774,862 $85,257 $(85,382)$6,506,902 $81,737 $(81,858)
(1)Fair values of these derivatives are included in other assets and other liabilities in the consolidated balance sheets.
Schedule of Interest Rate Swaps Subject to Master Netting Agreements
The Company does not offset assets and liabilities under master netting agreements for financial reporting purposes. Information on interest rate swaps and caps subject to these agreements is as follows at the dates indicated (in thousands):
 June 30, 2025
  Gross Amounts Offset in Balance
Sheet		Net Amounts Presented in
Balance Sheet		Gross Amounts Not Offset in
Balance Sheet		 
 Gross Amounts
Recognized		Derivative
Instruments		Collateral
Pledged		Net Amount
Derivative assets$45,344 $— $45,344 $(21,320)$(23,997)$27 
Derivative liabilities(46,666)— (46,666)21,320 25,346 — 
 $(1,322)$— $(1,322)$— $1,349 $27 
 December 31, 2024
  Gross Amounts Offset in Balance
Sheet		Net Amounts Presented in
Balance Sheet		Gross Amounts Not Offset in
Balance Sheet		 
 Gross Amounts
Recognized		Derivative
Instruments		Collateral
Pledged		Net Amount
Derivative assets$74,615 $— $74,615 $(11,161)$(63,376)$78 
Derivative liabilities(14,383)— (14,383)11,161 3,222 — 
$60,232 $— $60,232 $— $(60,154)$78