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Derivative Instruments and Hedging Activities | 9 Months Ended
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Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES | DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES Derivatives Designated as Hedging Instruments 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, 2025 |  | December 31, 2024 |  | September 30, 2025 |  | December 31, 2024
(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 hedges | $ | — |  | $ | — |  |  | $ | — |  | $ | — |  |  | $ | 400,000 |  | $ | 3,199 |  |  | $ | 500,000 |  | $ | 9,589 |
Total Derivatives Designated as Hedging Instruments | — |  | — |  |  | — |  | — |  |  | 400,000 |  | 3,199 |  |  | 500,000 |  | 9,589 |
Derivatives Not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |
Interest rate swap contracts - commercial loans | 758,665 |  | 35,739 |  |  | 850,104 |  | 60,890 |  |  | 758,665 |  | 36,042 |  |  | 850,104 |  | 61,271 |
Interest rate lock commitments - mortgage loans | 580 |  | 19 |  |  | — |  | — |  |  | — |  | — |  |  | — |  | — |
Total Derivatives Not Designated as Hedging Instruments | 759,245 |  | 35,758 |  |  | 850,104 |  | 60,890 |  |  | 758,665 |  | 36,042 |  |  | 850,104 |  | 61,271 |
Total Derivatives | $ | 759,245 |  | $ | 35,758 |  |  | $ | 850,104 |  | $ | 60,890 |  |  | $ | 1,158,665 |  | $ | 39,241 |  |  | $ | 1,350,104 |  | $ | 70,860 |
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:
| Derivative Assets (Included in Other Assets) |  | Derivative Liabilities (Included in Other Liabilities)
(dollars in thousands) | September 30, 2025 |  | December 31, 2024 |  | September 30, 2025 |  | December 31, 2024
Gross amounts recognized | $ | 35,739 |  |  | $ | 60,890 |  |  | $ | 39,241 |  |  | $ | 70,860 |
Gross amounts offset | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in the Consolidated Balance Sheets | 35,739 |  |  | 60,890 |  |  | 39,241 |  |  | 70,860 |
Netting adjustments(1) | (3,199) |  |  | (8,317) |  |  | (3,199) |  |  | (8,317) |
Cash collateral(2) | (22,660) |  |  | (52,516) |  |  | 608 |  |  | (2,034) |
Net Amount | $ | 9,880 |  |  | $ | 57 |  |  | $ | 36,650 |  |  | $ | 60,509 |
(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.
The following table presents the effect, net of tax, of the cash flow hedges on Other Comprehensive Income (Loss), or OCI, and on the Condensed Consolidated Statements of Comprehensive Income for the periods presented:
| Amount of Gain Recognized in Other Comprehensive Income |  | Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Interest Income
(dollars in thousands) | Three months ended September 30, 2025 |  | Three months ended September 30, 2024 |  | Three months ended September 30, 2025 |  | Three months ended September 30, 2024
Derivatives in Cash Flow Hedging Relationships: |  |  |  |  |  |  |  |  |  |  |
Interest rate swap contracts - cash flow hedge |  | $ | 1,166 |  |  |  | $ | 7,877 |  |  |  | $ | (1,412) |  |  |  | $ | (2,785) |
Total |  | $ | 1,166 |  |  |  | $ | 7,877 |  |  |  | $ | (1,412) |  |  |  | $ | (2,785) |
| Amount of Gain Recognized in Other Comprehensive Income |  | Amount of Loss Reclassified from Accumulated Other Comprehensive Loss into Interest Income
(dollars in thousands) | Nine months ended September 30, 2025 |  | Nine months ended September 30, 2024 |  | Nine months ended September 30, 2025 |  | Nine months ended September 30, 2024
Derivatives in Cash Flow Hedging Relationships: |  |  |  |  |  |  |  |  |  |  |
Interest rate swap contracts - cash flow hedges |  | $ | 5,016 |  |  |  | $ | 6,018 |  |  |  | $ | (4,625) |  |  |  | $ | (8,386) |
Total |  | $ | 5,016 |  |  |  | $ | 6,018 |  |  |  | $ | (4,625) |  |  |  | $ | (8,386) |
Amounts reported in OCI related to derivatives that are designated as hedging instruments are reclassified to interest income as interest payments are received on variable rate assets. During the next twelve months, we estimate that an additional $2.9 million will be reclassified as a decrease to interest income. Our current interest rate swap agreements have three to five year terms with maturity dates extending into 2027. The following table indicates the gain 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) | 2025 |  | 2024 |  | 2025 |  | 2024 |  |
Derivatives not Designated as Hedging Instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap contracts—commercial loans |  | $ | 53 |  |  |  | $ | 8 |  |  |  | $ | 147 |  |  |  | $ | 90 |  |  |  |
Interest rate lock commitments—mortgage loans |  | 19 |  |  |  | 64 |  |  |  | 19 |  |  |  | 64 |  |  |  |
Total Derivatives Gain |  | $ | 72 |  |  |  | $ | 72 |  |  |  | $ | 166 |  |  |  | $ | 154 |  |  |  |

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