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Derivative Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2024
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 March 31, 2024 and December 31, 2023, as well as the effect of these derivative instruments on the Company’s consolidated statements of income for the three months ended March 31, 2024 and 2023. 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: | March 31, 2024 |  | December 31, 2023 |  | March 31, 2024 |  | December 31, 2023
Interest rate swaps included in other assets | $ | 10,500 |  |  | $ | 10,500 |  |  | $ | 882 |  |  | $ | 786 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Interest rate swaps included in other assets | $ | 367,272 |  |  | $ | 363,498 |  |  | $ | 21,326 |  |  | $ | 18,567 |
Interest rate swaps included in other liabilities | 360,457 |  |  | 356,683 |  |  | (21,013) |  |  | (18,298) |
Risk participation agreements included in other liabilities | 20,000 |  |  | 20,000 |  |  | — |  |  | (2) |
Forward commitments to purchase forward-settling mortgage-backed securities included in other assets | — |  |  | 9,000 |  |  | — |  |  | 91 |
Forward commitments to purchase treasury notes in other assets | — |  |  | 22,500 |  |  | — |  |  | 822 |
Interest rate-lock commitments on residential mortgage loans included in other assets | 17,585 |  |  | 8,471 |  |  | 509 |  |  | 221 |
| $ | 765,314 |  |  | $ | 780,152 |  |  | $ | 822 |  |  | $ | 1,401 |
____________________________ (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
| March 31, 2024 |  | December 31, 2023
Interest rate swaps: | Paid |  | Received |  | Paid |  | Received
Cash flow hedges | 4.24 | % |  | 8.34 | % |  | 4.24 | % |  | 8.35 | %
Non-hedging interest rate swaps - financial institution counterparties | 4.90 |  |  | 7.83 |  |  | 4.88 |  |  | 7.82 |
Non-hedging interest rate swaps - customer counterparties | 7.83 |  |  | 4.90 |  |  | 7.82 |  |  | 4.88 |
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) | Three Months Ended March 31, |  |  |  |  |
Derivatives not designated as hedging instruments: | 2024 |  | 2023 |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain recognized in mortgage banking revenue (1) | $ | 219 |  |  | $ | 665 |  |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain recognized in other non-interest income | 46 |  |  | 11 |  |  |  |  |  |  |  |  |  |  |  |  |
____________________________ (1)Gains and losses on these instruments are largely offset by market fluctuations in mortgage servicing rights. The Company sold substantially all of its MSR recognizing a gain on the sale of $410,000 for the three months ended March 31, 2024. See Note 6 — Mortgage Banking for more information on components of mortgage banking revenue.

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