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Derivatives (Tables)

9 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Balance Sheet Category and Fair Values of the Derivative Instruments

The table below identifies the balance sheet category and fair value of the Company's derivative instruments as of September 30, 2024 and December 31, 2023. The Company has a minimum collateral posting threshold with its derivative counterparty. If the Company had breached any provisions under the agreement at September 30, 2024, it could have been required to settle its obligations under the agreement at the termination value.

						September 30, 2024																		December 31, 2023
(dollars in thousands)						Notional Amount						Fair Value						Balance Sheet Category						Notional Amount						Fair Value						Balance Sheet Category
Derivatives in an asset position:
Derivatives designated as hedging instruments:
Interest rate product						$	—					$	—					Other assets						$	300,000					$	374					Other assets
Derivatives not designated as hedging instruments:
Interest rate product						755,156						31,984						Other assets						651,429						30,288						Other assets
Credit risk participation agreements						49,480						1						Other liabilities						49,480						3						Other liabilities
Total						804,636						31,985												700,909						30,291
Total derivatives in an asset position:						$	804,636					$	31,985											$	1,000,909					$	30,665
Derivatives in a liability position:
Derivatives not designated as hedging instruments:
Interest rate product						$	755,156					$	30,588					Other liabilities						$	654,757					$	30,555					Other liabilities

Schedule of the Effect of Derivative Financial Instruments on the Consolidated Statements of Operations

The table below presents the effect of the Company's derivative financial instruments on the Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023:

The Effect of Derivatives Not Designated as Hedging Instruments on the Consolidated Statements of Operations
												Amount of Gain (Loss) Recognized in Income on Derivatives
						Location of Gain (Loss) Recognized in Income on Derivatives						Three Months Ended September 30,												Nine Months Ended September 30,
(dollars in thousands)												2024						2023						2024						2023
Interest rate products						Other income / (other expense)						$	843					$	3,027					$	1,321					$	3,735

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- References

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- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E

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-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

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A

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- 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

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