XML 60 R48.htm IDEA: XBRL DOCUMENT v3.25.0.1

Derivative Financial Instruments (Tables)

12 Months Ended

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 and $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	)		$	—

X

- References

No definition available.

+ Details

Name:	us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-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

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-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

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration