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Derivative Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | The components of our banking derivative financial instruments consisted of the following as of:
| Number of Transactions |  | Expiration Dates |  | Outstanding Notional |  | Estimated Fair Value |  |
March 31, 2025 |  |  |  |  |  |  |  |  |
Derivative financial instruments designated as hedging instruments: |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |
Interest Rate Products | 33 |  | 2029 - 2031 |  | $ | 164,894 |  |  | $ | 10,161 |  |  |
Derivative financial instruments not designated as hedging instruments: |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |
Interest Rate Products | 59 |  | 2025 - 2037 |  | $ | 540,918 |  |  | $ | 18,290 |  |  |
Other | 5 |  | 2028 |  | $ | 16,147 |  |  | $ | 10 |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Interest Rate Products | 59 |  | 2025 - 2037 |  | $ | 540,918 |  |  | $ | 18,166 |  |  |
Other | 6 |  | 2027 - 2029 |  | $ | 53,437 |  |  | $ | 60 |  |  |
December 31, 2024 |  |  |  |  |  |  |  |  |
Derivative financial instruments designated as hedging instruments: |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |
Interest Rate Products | 36 |  | 2029 - 2034 |  | $ | 175,967 |  |  | $ | 13,452 |  |  |
Derivative financial instruments not designated as hedging instruments: |  |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |  |
Interest Rate Products | 57 |  | 2025 - 2037 |  | $ | 502,080 |  |  | $ | 22,062 |  |  |
Other | 1 |  | 2025 |  | $ | 7,759 |  |  | $ | — |  |  |
Liabilities: |  |  |  |  |  |  |  |  |
Interest Rate Products | 57 |  | 2025 - 2037 |  | $ | 502,080 |  |  | $ | 21,830 |  |  |
Other | 5 |  | 2027 - 2028 |  | $ | 38,756 |  |  | $ | 31 |  |  |
The components of our mortgage banking derivative financial instruments consisted of the following as of:
| Expiration Dates |  | Outstanding Notional |  | Estimated Fair Value |  |
March 31, 2025 |  |  |  |  |  |  |
Derivative financial instruments |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Futures | 2025 |  | $ | 56,900 |  |  | $ | 726 |  |  |
Forward MBS trades | 2025 |  | $ | 109,000 |  |  | $ | (380) |  |  |
Interest rate lock commitments (IRLC) | 2025 |  | $ | 98,583 |  |  | $ | 871 |  |  |
December 31, 2024 |  |  |  |  |  |  |
Derivative financial instruments |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |
Forward MBS trades | 2025 |  | $ | 86,000 |  |  | $ | 464 |  |  |
Interest rate lock commitments (IRLC) | 2025 |  | $ | 44,701 |  |  | $ | 110 |  |  |
Liabilities: |  |  |  |  |  |  |
Futures | 2025 |  | $ | 44,900 |  |  | $ | 1,002 |  |  |
Schedule of Derivative Instruments, Gain (Loss) | We recorded gains and losses on banking derivative assets and liabilities as follows:
| For the three months ended March 31, |  |  |  |  |  |
| 2025 |  | 2024 |  |  |  |  |  |  |  |
Recorded (loss) gain on banking derivative assets | $ | (2,374) |  |  | $ | 6,385 |  |  |  |  |  |  |  |  |
Recorded gain (loss) on banking derivative liabilities | $ | 2,291 |  |  | $ | (6,232) |  |  |  |  |  |  |  |  |
We recorded gains and losses on mortgage banking derivative assets and liabilities as follows:
| For the three months ended March 31, |  |  |  |  |  |
| 2025 |  | 2024 |  |  |  |  |  |  |  |
Recorded gain on mortgage banking derivative assets | $ | 2,448 |  |  | $ | 58 |  |  |  |  |  |  |  |  |
Recorded loss on mortgage banking derivative liabilities | $ | (411) |  |  | $ | — |  |  |  |  |  |  |  |  |

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