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Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Financial Instruments

Summary of notional amount and fair value of derivative assets and liabilities

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	Notional	​	​	​	​	​	Fair Value
​	​	Amount		​	Balance Sheet Location		​	Asset		​	Liability
December 31, 2023	​	(In thousands)	​	​	​	​	​	(In thousands)
Interest rate lock commitments	$	16,526	​	​	Other assets/liabilities	​	$	140	​	$	4
Forward contracts		25,500	​	​	Other assets/liabilities	​	​	4	​	​	391
Interest rate swaps		57,540	​	​	Other assets/liabilities	​		2,610	​	​	—
Put options	​	748,374	​	​	Other assets	​	​	25,877	​	​	—
Interest rate floors	​	748,374	​	​	Other assets	​	​	6,576	​	​	—
​	​	​	​	​	​	​	$	35,207	​	$	395

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	Notional	​	​	​	​	​	Fair Value
​	​	Amount		​	Balance Sheet Location		​	Asset		​	Liability
December 31, 2022	​	(In thousands)	​	​	​	​	​	(In thousands)
Interest rate lock commitments	$	8,759	​	​	Other assets/liabilities	​	$	28	​	$	23
Forward contracts	$	13,096	​	​	Other assets/liabilities	​	​	46	​	​	52
Interest rate swaps	$	57,574	​	​	Other assets/liabilities	​		3,030	​	​	—
​	​	​	​	​	​	​	$	3,104	​	$	75

Summarizes the periodic changes in the fair value of the derivative financial instruments on the consolidated statements of income

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	Year Ended
​	​	​	December 31,
​			2023		​	2022			2021
​	​	​	(In thousands)
Derivative gain (loss) included in gain on sale of loans:	​	​	​	​	​	​	​	​	​	​
Interest rate lock commitments	​	​	$	130	​	$	(218)	​	$	(5,908)
Forward contracts (includes pair-off settlements)	​	​	​	201	​	​	5,277	​	​	5,956
Interest rate swaps	​	​	​	(420)	​	​	132	​	​	—
Net gain (loss)	​	​	​	(89)	​	​	5,191	​	​	48
​	​	​	​	​	​	​	​	​	​	​
Derivative gain (loss) included in other income:	​	​	​	​	​	​	​	​	​	​
Put options	​	​	​	5,629	​	​	—	​	​	—
Interest rate floors	​	​	​	6,575	​	​	—	​	​	—
Net gain (loss)	​	​	$	12,204	​	$	—	​	$	—

Interest rate swaps

Derivative Financial Instruments

Summary of notional amount and fair value of derivative assets and liabilities

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	Notional	​	​	​	​	​	Fair Value
​	​	Amount		​	Balance Sheet Location		​	Asset		​	Liability
​	​	(In thousands)	​	​	​	​	​	(In thousands)
December 31, 2023	$	607,169	​	​	Other assets/liabilities	​	$	12,426	​	$	12,426
December 31, 2022	$	77,495	​	​	Other assets/liabilities	​	$	3,041	​	$	3,041

Summarizes the periodic changes in the fair value of the derivative financial instruments on the consolidated statements of income

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	Year Ended
​	​	​	December 31,
​			2023			2022		​	2021
​	​	​	(In thousands)
Gross swap gains	​	​	$	9,385	​	$	1,910	​	$	2,039
Gross swap losses	​	​		9,385	​	​	1,910	​	​	2,039
Net swap gains (losses)	​	​	$	—	​	$	—	​	$	—

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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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.

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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.

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