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Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Instruments

As of September 30, 2024 and December 31, 2023, the notional amount, the location of the asset and liability, and their respective fair values, are summarized in the tables below.

		September 30, 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		$	381,468			Other assets		$	364			$	381,468			Other liabilities		$	364
Total								$	364									$	364
Derivatives designated as hedging instruments:
Fair value hedges: interest rate swaps		$	1,000,000			Other assets		$	—							Other liabilities		$	14,959
Cash flow hedges: interest rate swaps						Other assets			—			$	300,000			Other liabilities			5,329
Total								$	—									$	20,288

		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								$	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 September 30,								Nine Months Ended September 30,
				2024				2023				2024				2023
Derivatives Not Designated as Hedging Instruments:				(Dollars in thousands)
Interest rate swaps		Other income		$	105			$	—			$	105			$	—
Total				$	105			$	—			$	105			$	—

		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 September 30,								Nine Months Ended September 30,								Three Months Ended September 30,								Nine Months Ended September 30,
				2024				2023				2024				2023				2024				2023				2024				2023
				(Dollars in thousands)																(Dollars in thousands)
Derivatives Designated as Hedging Instruments:
Fair value hedges:      interest rate swaps		Interest income		$	4,286			$	3,790			$	12,070			$	4,236			$	(20,430	)		$	9,708			$	(5,671	)		$	17,554
Cash flow hedges:      interest rate swaps		Interest expense			892				—				1,988				—				(4,869	)			—				(3,754	)			—
Total				$	5,178			$	3,790			$	14,058			$	4,236			$	(25,299	)		$	9,708			$	(9,425	)		$	17,554

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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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E

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-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

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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

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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.

+ References

Reference 1: 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

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