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Derivative Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | The tables below present the fair value of the Company’s derivative financial instruments at December 31, 2024 and 2023. The Company’s derivative assets and derivative liabilities are located within other assets and other liabilities, respectively, on the Company’s Consolidated Statements of Financial Condition.
| December 31, 2024
| Notional Amount |  | Fair Value(1)
|  | Other Assets |  | Other Liabilities
| (Dollars in thousands)
Derivatives designated as cash flow hedges |  |  |  |  |
Interest rate swaps | $ | 1,125,000 |  |  | $ | — |  |  | $ | (2,330) |
Interest rate collars | 500,000 |  |  | — |  |  | (1,227) |
Forward interest rate swaps | 200,000 |  |  | — |  |  | (1,474) |
Total | $ | 1,825,000 |  |  | $ | — |  |  | $ | (5,031) |
Derivatives not designated as hedges |  |  |  |  |
Interest rate contracts with correspondent banks | $ | 1,120,217 |  |  | $ | 46,294 |  |  | $ | (1,400) |
Interest rate contracts with customers | 1,120,217 |  |  | 1,400 |  |  | (47,384) |
Foreign exchange contracts with correspondent banks | 16,056 |  |  | 894 |  |  | (1) |
Foreign exchange contracts with customers | 224 |  |  | 6 |  |  | — |
Risk participation agreement | 100,957 |  |  | — |  |  | (15) |
Mortgage banking derivatives | — |  |  | — |  |  | — |
Total | $ | 2,357,671 |  |  | $ | 48,594 |  |  | $ | (48,800) |
__________________________________ (1) The fair values of centrally-cleared derivative contracts are presented net of settled-to-market margin.
| December 31, 2023
| Notional Amount |  | Fair Value(1)
|  | Other Assets |  | Other Liabilities
| (Dollars in thousands)
Derivatives designated as cash flow hedges |  |  |  |  |
Interest rate swaps | $ | 725,000 |  |  | $ | — |  |  | $ | — |
Interest rate collars | 250,000 |  |  | — |  |  | 1,149 |
Forward interest rate swaps | 1,000,000 |  |  | 10,812 |  |  | — |
Forward interest rate collars | 250,000 |  |  | 148 |  |  | — |
Total | $ | 2,225,000 |  |  | $ | 10,960 |  |  | $ | 1,149 |
Derivatives not designated as hedges |  |  |  |  |
Interest rate contracts with correspondent banks | $ | 1,096,292 |  |  | $ | 53,185 |  |  | $ | 1,117 |
Interest rate contracts with customers | 1,096,292 |  |  | 1,117 |  |  | 54,505 |
Foreign exchange contracts with correspondent banks | 10,739 |  |  | 4 |  |  | 202 |
Foreign exchange contracts with customers | 1,744 |  |  | 57 |  |  | — |
Risk participation agreement | 130,365 |  |  | — |  |  | 28 |
Mortgage banking derivatives | 1,377 |  |  | 7 |  |  | 17 |
Total | $ | 2,336,809 |  |  | $ | 54,370 |  |  | $ | 55,869 |
__________________________________ (1) The fair values of centrally-cleared derivative contracts are presented net of settled-to-market margin.
Schedule of Cash Flow Hedges Reclassified from Accumulated Other Comprehensive Income into Earnings | The table below presents the gains (losses) on derivative instruments designated as cash flow hedges, that were reclassified from AOCI into earnings for the periods indicated:
Derivative Instruments Designated as Cash Flow Hedges |  | Location of Gain (Loss) Recognized in Income |  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
|  |  |  | (Dollars in thousands)
Interest rate contracts |  | Interest income on cash and deposits at other banks |  | $ | — |  |  | $ | — |  |  | $ | 574 |
Interest rate contracts |  | Interest income and fees on loans |  | (6,531) |  |  | (96) |  |  | — |
Interest rate contracts |  | Interest expense on deposits |  | 12,514 |  |  | 11,589 |  |  | — |
Interest rate contracts |  | Interest expense on FHLB and FRB borrowings |  | 5,331 |  |  | 4,836 |  |  | 1,451 |
Total |  |  |  | $ | 11,314 |  |  | $ | 16,329 |  |  | $ | 2,025 |

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- 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8 Reference 5: 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 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5 Reference 9: 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 + Details
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