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Derivative Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Fair Value of Derivative Instruments | As of December 31, 2024 and 2023, the total notional amount of the Company’s swaps not designated as hedging instruments was $363.4 million a nd $394.4 million, respectively. The location of the asset and liability, and their respective fair values are summarized in the tables below.
|  | December 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 |  | $ | 363,440 |  |  | Other assets |  | $ | 30 |  |  | $ | 363,440 |  |  | Other liabilities |  | $ | 30 |
Total |  |  |  |  |  |  | $ | 30 |  |  |  |  |  |  |  | $ | 30 |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value hedges: interest rate swaps |  | $ | 700,000 |  |  | Other assets |  | $ | 7,222 |  |  |  |  |  | Other liabilities |  | $ | — |
Cash flow hedges: interest rate swaps |  |  |  |  | Other assets |  |  | — |  |  | $ | 300,000 |  |  | Other liabilities |  |  | 517 |
Total |  |  |  |  |  |  | $ | 7,222 |  |  |  |  |  |  |  | $ | 517 |
|  | 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 |
Schedule of Effect of Derivative Instruments on Consolidated Statement of Earnings | The following table summarizes the effect of derivative financial instruments on the 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 |
|  |  |  | Year Ended December 31, |
|  |  |  | 2024 |  |  | 2023 |  |  | 2022 |
Derivatives Not Designated as Hedging Instruments: |  |  |  | (Dollars in thousands) |
Interest rate swaps |  | Other income |  | $ | 211 |  |  | $ | 12 |  |  | $ | — |
Total |  |  |  | $ | 211 |  |  | $ | 12 |  |  | $ | — |
|  | 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 |
|  |  |  | Year Ended December 31, |  |  | Year Ended December 31, |
|  |  |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2024 |  |  | 2023 |  |  | 2022 |
|  |  |  | (Dollars in thousands) |  |  | (Dollars in thousands) |
Derivatives Designated as Hedging Instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value hedges: interest rate swaps |  | Interest income |  | $ | 14,377 |  |  | $ | 8,210 |  |  | $ | — |  |  | $ | 15,619 |  |  | $ | (4,868 | ) |  | $ | — |
Cash flow hedges: interest rate swaps |  | Interest expense |  |  | 2,418 |  |  |  | — |  |  |  | — |  |  |  | 3,390 |  |  |  | — |  |  |  | — |
Total |  |  |  | $ | 16,795 |  |  | $ | 8,210 |  |  | $ | — |  |  | $ | 19,009 |  |  | $ | (4,868 | ) |  | $ | — |

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