XML 41 R30.htm IDEA: XBRL DOCUMENT
v3.25.3

Derivative Financial Instruments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | Select terms of the hedges are as follows:
($ in thousands) |  |  |  |  |  |
Notional |  | Fixed Rate |  | Effective Date |  | Maturity Date
$ | 50,000 |  |  | 6.56 | % |  | January 25, 2023 |  | February 1, 2027
$ | 100,000 |  |  | 6.63 | % |  | December 20, 2022 |  | January 1, 2028
$ | 100,000 |  |  | 6.66 | % |  | April 1, 2025 |  | April 1, 2030
Select terms of the hedges are as follows:
($ in thousands) |  |  |  |
Notional |  | Fixed Rate |  | Maturity Date
$ | 18,558 |  |  | 2.64 | % |  | March 15, 2026
$ | 13,506 |  |  | 2.64 | % |  | March 17, 2026
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Balance Sheet:
| Notional Amount |  | Derivative Assets |  | Derivative Liabilities
($ in thousands) | September 30, 2025 |  | December 31, 2024 |  | September 30, 2025 |  | December 31, 2024 |  | September 30, 2025 |  | December 31, 2024
Derivatives designated as hedging instruments
Interest rate swaps | $ | 282,064 |  |  | $ | 282,064 |  |  | $ | 2,020 |  |  | $ | 649 |  |  | $ | — |  |  | $ | 3,139 |
Interest rate collars | 150,000 |  |  | 150,000 |  |  | 713 |  |  | — |  |  | — |  |  | 1,056 |
Total | $ | 432,064 |  |  | $ | 432,064 |  |  | $ | 2,733 |  |  | $ | 649 |  |  | $ | — |  |  | $ | 4,195 |
Derivatives not designated as hedging instruments
Interest rate swaps | $ | 873,363 |  |  | $ | 854,171 |  |  | $ | 10,546 |  |  | $ | 14,495 |  |  | $ | 10,552 |  |  | $ | 14,497 |
The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s financial instruments subject to offsetting. The gross amounts of assets or liabilities can be reconciled to the tabular disclosure of fair value. The fair value table above provides the location of financial assets and liabilities presented on the Balance Sheet.
As of September 30, 2025
|  |  | Gross Amounts Not Offset in the Statement of Financial Position |  |
($ in thousands) | Gross Amounts Recognized |  | Gross Amounts Offset in the Statement of Financial Position |  | Net Amounts of Assets presented in the Statement of Financial Position |  | Financial Instruments |  | Fair Value Collateral Posted |  | Net Amount
Assets: |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 12,566 |  |  | $ | — |  |  | $ | 12,566 |  |  | $ | 3,391 |  |  | $ | 6,650 |  |  | $ | 2,525 |
Interest rate collars | 713 |  |  | — |  |  | 713 |  |  | — |  |  | — |  |  | 713 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 10,552 |  |  | $ | — |  |  | $ | 10,552 |  |  | $ | 3,391 |  |  | $ | — |  |  | $ | 7,161 |
Securities sold under agreements to repurchase | 149,812 |  |  | — |  |  | 149,812 |  |  | — |  |  | 149,812 |  |  | — |
As of December 31, 2024
|  |  | Gross Amounts Not Offset in the Statement of Financial Position |  |
($ in thousands) | Gross Amounts Recognized |  | Gross Amounts Offset in the Statement of Financial Position |  | Net Amounts of Assets presented in the Statement of Financial Position |  | Financial Instruments |  | Fair Value Collateral Posted |  | Net Amount
Assets: |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 15,144 |  |  | $ | — |  |  | $ | 15,144 |  |  | $ | 4,975 |  |  | $ | 9,710 |  |  | $ | 459 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | $ | 17,636 |  |  | $ | — |  |  | $ | 17,636 |  |  | $ | 4,975 |  |  | $ | — |  |  | $ | 12,661 |
Interest rate collars | 1,056 |  |  | — |  |  | 1,056 |  |  | — |  |  | — |  |  | 1,056 |
Securities sold under agreements to repurchase | 244,618 |  |  | — |  |  | 244,618 |  |  | — |  |  | 244,618 |  |  | — |

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 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://www.xbrl.org/2003/role/exampleRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 182 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480401/815-10-55-182 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 3: 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 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -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

X
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration