XML 40 R29.htm IDEA: XBRL DOCUMENT v3.25.2
Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Amounts in the Consolidated Balance Sheets Related to the Cumulative Adjustments for Fair Value Hedges
The follow table presents the amounts recorded in the consolidated balance sheets related to the cumulative adjustments for fair value hedges at the periods presented.
(Dollars in thousands)
Carrying Amount of the
Hedged Assets (1)
Cumulative Amount of Fair Value Hedging Adjustments
Included in the Carrying Amount of the Hedged Items
Line Item on the Balance SheetJune 30, 2025December 31, 2024June 30, 2025December 31, 2024
Securities available-for-sale$41,984 $— $700 $— 
____________________________
(1)Represents amortized cost for fair value hedge disclosures. Available-for-sale securities are carried at fair value on the consolidated balance sheets.
Schedule of Fair Values of Derivative Instruments on the Balance Sheet
The following tables disclose the notional amount and the fair value of derivative instruments in the Company’s consolidated balance sheets at June 30, 2025, and December 31, 2024. 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 fair value hedging instruments:
June 30, 2025December 31, 2024June 30, 2025December 31, 2024
Interest rate swaps included in other liabilities$41,660 $— $(700)$— 
Derivatives not designated as hedging instruments:
Interest rate swaps included in other assets$490,626 $365,042 $13,072 $15,264 
Interest rate swaps included in other liabilities484,426 358,527 (12,866)(14,959)
Risk participation agreements included in other liabilities32,803 32,494 — — 
Interest rate-lock commitments on residential mortgage loans included in other assets4,409 11,007 146 331 
$1,012,264 $767,070 $352 $636 
____________________________
(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 summarized expected weighted average remaining maturity of the notional amount of interest rate swaps and the weighted average interest rates associated with the amounts expected to be received or paid on interest rate swap agreements are presented below.
June 30, 2025December 31, 2024
(Dollars in thousands)Notional AmountWeighted AverageNotional AmountWeighted Average
Interest rate swaps:Remaining Maturity (in years)
Receive Rate(1)
Pay
Rate(1)
Remaining Maturity
(in years)		Receive RatePay
Rate
Fair value hedge
$41,660 7.784.45 %3.79 %$— — — %— %
Non-hedging interest rate swaps - financial institution counterparties387,546 3.046.86 5.38 358,527 3.367.67 5.04 
Non-hedging interest rate swaps - customer counterparties387,546 3.045.38 6.86 358,527 3.365.04 7.67 
____________________________
(1)Weighted average receivable rates are based on implied forward rates in the yield curve at the reporting date.
Schedule of Gains and Losses Recognized on Derivative Instruments Not Designated as Hedging Instruments
Gains and losses recognized on derivative instruments were as follows:
(Dollars in thousands)Three Months Ended June 30,Six Months Ended June 30,
Derivatives designated as fair value hedging instruments:2025202420252024
Amount of gain recognized in interest income on available for sale securities$700 $— $700 $— 
Amount of (loss) recognized in interest income on interest rate swaps - available for sale securities(700)— (700)— 
Derivatives not designated as hedging instruments:
Amount of (loss) gain recognized in mortgage banking revenue(300)165 (185)384 
Amount of (loss) gain recognized in other non-interest income(35)17 (99)63