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Derivative Instruments and Hedging Activities (Tables) | 9 Months Ended
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Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Value of Derivative Assets and Derivative Liabilities | The following table indicates the amounts representing the value of derivative assets and derivative liabilities as of the dates presented:
| Derivative Assets (Included in Other Assets) |  | Derivative Liabilities (Included in Other Liabilities)
| September 30, 2024 |  | December 31, 2023 |  | September 30, 2024 |  | December 31, 2023
(dollars in thousands) | Notional Amount | Fair Value |  | Notional Amount | Fair Value |  | Notional Amount | Fair Value |  | Notional Amount | Fair Value
Derivatives Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |
Interest rate swap contracts - cash flow hedge | $ | — |  | $ | — |  |  | $ | — |  | $ | — |  |  | $ | 500,000 |  | $ | 7,115 |  |  | $ | 500,000 |  | $ | 14,739 |
Total Derivatives Designated as Hedging Instruments | $ | — |  | $ | — |  |  | $ | — |  | $ | — |  |  | $ | 500,000 |  | $ | 7,115 |  |  | $ | 500,000 |  | $ | 14,739 |
Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |
Interest rate swap contracts - commercial loans | 864,443 |  | 45,690 |  |  | 892,712 |  | 63,018 |  |  | 864,443 |  | 46,156 |  |  | 892,712 |  | 63,554 |
Interest rate lock commitments - mortgage loans | 2,233 |  | 64 |  |  | — |  | — |  |  | — |  | — |  |  | — |  | — |
Total Derivatives Not Designated as Hedging Instruments | $ | 866,676 |  | $ | 45,754 |  |  | $ | 892,712 |  | $ | 63,018 |  |  | $ | 864,443 |  | $ | 46,156 |  |  | $ | 892,712 |  | $ | 63,554 |
Total Derivatives | $ | 866,676 |  | $ | 45,754 |  |  | $ | 892,712 |  | $ | 63,018 |  |  | $ | 1,364,443 |  | $ | 53,271 |  |  | $ | 1,392,712 |  | $ | 78,293 |
Schedule of Interest Rate Derivatives | The following table indicates the gross amounts of interest rate swap derivative assets and derivative liabilities, the amounts offset and the carrying values in the Consolidated Balance Sheets at the dates presented:
| Derivatives (included in Other Assets) |  | Derivatives (included in Other Liabilities)
(dollars in thousands) | September 30, 2024 |  | December 31, 2023 |  | September 30, 2024 |  | December 31, 2023
Gross amounts recognized | $ | 45,690 |  |  | $ | 63,018 |  |  | $ | 53,271 |  |  | $ | 78,293 |
Gross amounts offset | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in the Consolidated Balance Sheets | 45,690 |  |  | 63,018 |  |  | 53,271 |  |  | 78,293 |
Netting adjustments(1) | (6,290) |  |  | (10,424) |  |  | (6,290) |  |  | (10,424) |
Cash collateral(2) | (35,211) |  |  | (50,920) |  |  | (1,466) |  |  | (5,356) |
Net Amount | $ | 4,189 |  |  | $ | 1,674 |  |  | $ | 45,515 |  |  | $ | 62,513 |
(1) Netting adjustments represent the amounts recorded to convert derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance.
(2) Cash collateral represents the amount that cannot be used to offset our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The application of the cash collateral cannot reduce the net derivative position below zero. Therefore, excess cash collateral, if any, is not reflected above.
Schedule of Effect of Cash Flow Hedges |
The following tables present the effect, net of tax, of the cash flow hedges on OCI and on the Condensed Consolidated Statements of Comprehensive Income for the periods presented:
| Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss) |  | Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Interest Income
(dollars in thousands) | Three months ended September 30, 2024 |  | Three months ended September 30, 2023 |  | Three months ended September 30, 2024 |  | Three months ended September 30, 2023
Derivatives in Cash Flow Hedging Relationships: |  |  |  |  |  |  |  |  |  |  |
Interest rate swap contracts - cash flow hedge |  | $ | 7,877 |  |  |  | $ | (1,647) |  |  |  | $ | (2,785) |  |  |  | $ | (2,749) |
Total |  | $ | 7,877 |  |  |  | $ | (1,647) |  |  |  | $ | (2,785) |  |  |  | $ | (2,749) |
| Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss) |  | Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Interest Income
(dollars in thousands) | Nine months ended September 30, 2024 |  | Nine months ended September 30, 2023 |  | Nine months ended September 30, 2024 |  | Nine months ended September 30, 2023
Derivatives in Cash Flow Hedging Relationships: |  |  |  |  |  |  |  |  |  |  |
Interest rate swap contracts - cash flow hedge |  | $ | 6,018 |  |  |  | $ | (3,399) |  |  |  | $ | (8,386) |  |  |  | $ | (6,958) |
Total |  | $ | 6,018 |  |  |  | $ | (3,399) |  |  |  | $ | (8,386) |  |  |  | $ | (6,958) |
Schedule of Amount of Gain or Loss Recognized in Income on Derivatives | The following table indicates the gain (loss) recognized in income on derivatives not designated as hedging instruments for the periods presented:
| Three months ended September 30, |  | Nine months ended September 30,
(dollars in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Derivatives not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap contracts—commercial loans |  | $ | 8 |  |  |  | $ | (851) |  |  |  | $ | 90 |  |  |  | $ | (851) |  |  |  |
Interest rate lock commitments—mortgage loans |  | 64 |  |  |  | — |  |  |  | 64 |  |  |  | (5) |  |  |  |
Forward sale contracts—mortgage loans |  | — |  |  |  | — |  |  |  | — |  |  |  | (2) |  |  |  |
Total Derivatives Gain (Loss) |  | $ | 72 |  |  |  | $ | (851) |  |  |  | $ | 154 |  |  |  | $ | (858) |  |  |  |

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