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Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Fair Values of Derivative Instruments on the Balance Sheet
The following tables disclose the fair value of derivative instruments in the Company’s consolidated balance sheets at December 31, 2023 and 2022, as well as the effect of these derivative instruments on the Company’s consolidated statements of income for the year ended December 31, 2023 and 2022. Derivative instruments and their related gains and losses are reported in other operating activities, net in the statements of cash flows.
(Dollars in thousands)
Notional Amounts(1)
Fair Values
Derivatives designated as cash flow hedging instruments:
December 31, 2023December 31, 2022December 31, 2023December 31, 2022
Interest rate swaps included in other assets$10,500 $10,500 $786 $1,043 
Derivatives not designated as hedging instruments:
Interest rate swaps included in other assets$363,498 $352,842 $18,567 $25,482 
Interest rate swaps included in other liabilities
356,683 345,742 (18,298)(25,175)
Risk participation agreements included in other liabilities20,000 59,738 (2)— 
Forward commitments to purchase forward-settling mortgage-backed securities included in other assets (liabilities)9,000 7,000 91 (100)
Forward commitments to purchase treasury notes in other assets22,500 31,500 822 — 
Forward commitments to sell residential mortgage loans included in other assets— 8,500 — 7 
Interest rate-lock commitments on residential mortgage loans included in other assets
8,471 9,544 221 201 
$780,152 $814,866 $1,401 $415 
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(1)Notional or contractual amounts, which represent the extent of involvement in the derivatives market, are used to determine the contractual cash flows required in accordance with the terms of the agreement. These amounts are typically not exchanged, significantly exceed amounts subject to credit or market risk and are not reflected in the consolidated balance sheets.
Schedule of Weighted-average Rates Paid and Received for Interest Rate Swaps
The weighted-average rates paid and received for interest rate swaps were as follows:
Weighted-Average Interest Rate
December 31, 2023December 31, 2022
Interest rate swaps:PaidReceivedPaidReceived
Cash flow hedges4.24 %8.35 %4.98 %5.72 %
Non-hedging interest rate swaps - financial institution counterparties4.88 7.82 3.72 5.75 
Non-hedging interest rate swaps - customer counterparties7.82 4.88 5.75 3.72 
Schedule of Gains and Losses Recognized on Derivative Instruments Not Designated as Hedging Instruments
Gains and losses recognized on derivative instruments not designated as hedging instruments are as follows:
(Dollars in thousands)Years Ended December 31,
Derivatives not designated as hedging instruments:202320222021
Amount of loss recognized in mortgage banking revenue (1)
$(573)$(2,813)$(3,118)
Amount of (loss) gain recognized in other non-interest income(41)655 816 
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(1)Gains and losses on these instruments are largely offset by market fluctuations in mortgage servicing rights. See Note 9 — Mortgage Banking for more information on components of mortgage banking revenue.