XML 62 R45.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Derivative Financial Instruments (Tables) | 12 Months Ended
--- | ---
Dec. 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 December 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 year ended December 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: | December 31, 2024 |  | December 31, 2023 |  | December 31, 2024 |  | December 31, 2023
Interest rate swaps included in other assets | $ | — |  |  | $ | 10,500 |  |  | $ | — |  |  | $ | 786 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Interest rate swaps included in other assets | $ | 365,042 |  |  | $ | 363,498 |  |  | $ | 15,264 |  |  | $ | 18,567 |
Interest rate swaps included in other liabilities | 358,527 |  |  | 356,683 |  |  | (14,959) |  |  | (18,298) |
Risk participation agreements included in other liabilities | 32,494 |  |  | 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 | 11,007 |  |  | 8,471 |  |  | 331 |  |  | 221 |
| $ | 767,070 |  |  | $ | 780,152 |  |  | $ | 636 |  |  | $ | 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 for Interest Rate Swaps | The weighted-average rates for interest rate swaps were as follows:
| Weighted-Average Interest Rate
| December 31, 2024 |  | December 31, 2023
Interest rate swaps: | Paid |  | Received |  | Paid |  | Received
Cash flow hedges | 4.24 | % |  | 8.31 | % |  | 4.24 | % |  | 8.35 | %
Non-hedging interest rate swaps - financial institution counterparties | 5.04 |  |  | 7.67 |  |  | 4.88 |  |  | 7.82 |
Non-hedging interest rate swaps - customer counterparties | 7.67 |  |  | 5.04 |  |  | 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 were as follows:
(Dollars in thousands) |  |  | Years Ended December 31, |
Derivatives not designated as hedging instruments: |  |  |  |  | 2024 |  | 2023 |  | 2022 |  |  |
Amount of (loss) gain recognized in mortgage banking revenue (1) |  |  |  |  | $ | 41 |  |  | $ | (573) |  |  | $ | (2,813) |  |  |  |
Amount of (loss) gain recognized in other non-interest income |  |  |  |  | 38 |  |  | (41) |  |  | 655 |  |  |  |
____________________________ (1)Gains and losses on these instruments are largely offset by market fluctuations in the MSR asset. The Company sold substantially all of its MSR asset recognizing a gain on the sale of $410,000 for the year ended December 31, 2024. See Note 9 — Mortgage Banking for more information on components of mortgage banking revenue.

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: 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 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. + References Reference 1: 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
Name: | us-gaap_ScheduleOfInterestRateDerivativesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 4CC -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC + Details
Name: | us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration