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Derivative Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair Value of Derivative Instruments | he location of the asset and liability, and their respective fair values, ar e summarized in the tables below.
|  | March 31, 2024 |
|  | Asset Derivatives |  |  | Liability Derivatives |
|  | Notional |  |  | Balance Sheet Location |  | Fair Value |  |  | Notional |  |  | Balance Sheet Location |  | Fair Value |
|  | (Dollars in thousands) |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 390,307 |  |  | Other assets |  | $ | 38 |  |  | $ | 390,307 |  |  | Other liabilities |  | $ | 38 |
Total derivatives |  |  |  |  |  |  | $ | 38 |  |  |  |  |  |  |  | $ | 38 |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value hedges: interest rate swaps |  | $ | 1,000,000 |  |  | Other assets |  | $ | 10,893 |  |  |  |  |  | Other liabilities |  | $ | — |
Cash flow hedges: interest rate swaps |  |  |  |  | Other assets |  |  | 789 |  |  | $ | 300,000 |  |  | Other liabilities |  |  | — |
Total |  |  |  |  |  |  | $ | 11,682 |  |  |  |  |  |  |  | $ | — |
|  | December 31, 2023 |
|  | Asset Derivatives |  |  | Liability Derivatives |
|  | Notional |  |  | Balance Sheet Location |  | Fair Value |  |  | Notional |  |  | Balance Sheet Location |  | Fair Value |
|  | (Dollars in thousands) |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 394,359 |  |  | Other assets |  | $ | 112 |  |  | $ | 394,359 |  |  | Other liabilities |  | $ | 112 |
Total derivatives |  |  |  |  |  |  | $ | 112 |  |  |  |  |  |  |  | $ | 112 |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value hedges: interest rate swaps |  | $ | 1,000,000 |  |  | Other assets |  | $ | — |  |  |  |  |  | Other liabilities |  | $ | 6,938 |
Total |  |  |  |  |  |  | $ | — |  |  |  |  |  |  |  | $ | 6,938 |
Effect of Derivative Instruments on Consolidated Statement of Earnings | The following table summarizes the effect of derivative financial instruments on the condensed consolidated statements of earnings for the periods presented.
|  | Location of Gain Recognized in Income on Derivative Instruments |  | Amount of Gain Recognized in Income on Derivative Instruments |
|  |  |  | Three Months Ended March 31, |
|  |  |  | 2024 |  |  | 2023 |
|  |  |  | (Dollars in thousands) |
Derivatives Not Designated as Hedging Instruments: |  |  |  |  |  |  |  |
Interest rate swaps |  | Other income |  | $ | — |  |  | $ | — |
Total |  |  |  | $ | — |  |  | $ | — |
|  | Location of Gain Recognized in Income on Derivative Instruments |  | Amount of Gains (Losses) Recognized in Interest Income on Derivative Instruments | OCI Impact on Derivatives-Gains (Losses) recorded in OCI
|  |  |  | Three Months Ended March 31, |  |  | Three Months Ended March 31, |  |
|  |  |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |  |
|  |  |  | (Dollars in thousands) | (Dollars in thousands)
Derivatives Designated as Hedging Instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value hedges: interest rate swaps |  | Interest income |  | $ | 3,687 |  |  | $ | — |  |  | $ | 12,869 |  |  | $ | — |  |
Cash flow hedges: interest rate swaps |  | Interest expense |  |  | 178 |  |  |  | — |  |  |  | 556 |  |  |  | — |  |
Total |  |  |  | $ | 3,865 |  |  | $ | — |  |  | $ | 13,425 |  |  | $ | — |  |

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