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Derivatives and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Accumulated Other Comprehensive Income/Loss Attributable to Cash Flow Hedge Derivative

The table below presents the effect on the Company’s accumulated other comprehensive income/loss (“AOCI” or “AOCL”) attributable to the cash flow hedge derivative, net of tax, and the related gains/losses reclassified from AOCI into income (in thousands):

						Three Months Ended March 31,
						2025						2024
AOCL balance at beginning of period, net of tax						$	(87)					$	(36)
Unrealized losses recognized in OCI						—						(949)
Losses reclassified from AOCI into interest income						64						259
AOCL balance at end of period, net of tax						$	(23)					$	(726)

Schedule of Notional Amount and Fair Value of Derivatives Designated and Not Designated as Hedging Instruments

The table below presents the notional amount and fair value of derivatives designated and not designated as hedging instruments, as well as their location on the Consolidated Statements of Financial Condition (in thousands):

						Notional						Fair Value
												Other assets						Other liabilities
As of March 31, 2025
Derivatives Not Designated as Hedging Instruments
Interest rate swaps and cap contracts						$	1,506,505					$	72,757					$	72,791
Derivatives Designated as Cash Flow Hedge
Interest rate swap contract						100,000						—						30
Total Derivatives						$	1,606,505					$	72,757					$	72,821
As of December 31, 2024
Derivatives Not Designated as Hedging Instruments
Interest rate swaps and cap contracts						$	1,468,022					$	91,352					$	91,368
Derivatives Designated as Cash Flow Hedge
Interest rate swap contract						100,000						—						115
Total Derivatives						$	1,568,022					$	91,352					$	91,483

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- References

No definition available.

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- Definition

Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C

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- Definition

Tabular disclosure of the notional amounts of outstanding derivative positions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A

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