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Financial Instruments with Off-Balance Sheet Risk | 12 Months Ended
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Dec. 31, 2024
Financial Instruments With Off-balance Sheet Risk |
Financial Instruments with Off-Balance Sheet Risk | Financial Instruments with Off-Balance Sheet Risk Various commitments to extend credit are made in the normal course of banking business. Letters of credit are also issued for the benefit of customers. These commitments are subject to loan underwriting standards and geographic boundaries consistent with the Company’s loans outstanding. Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since some of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Loan commitments outstanding and lines and letters of credit at December 31, 2024 and 2023 are as follows:
(dollars in thousands) |  | 2024 |  | 2023
Unfunded loan commitments |  | $ | 1,318,133 |  |  | $ | 1,981,334 |
Unfunded lines of credit |  | 88,305 |  |  | 98,614 |
Letters of credit |  | 69,051 |  |  | 87,146 |
Total |  | $ | 1,475,489 |  |  | $ | 2,167,094 |
As of December 31, 2024, the total reserve for unfunded commitments was $3.5 million as compared to $5.6 million at December 31, 2023 and is accounted for as a liability on the Consolidated Balance Sheets. See Note 1 of the Consolidated Financial Statements for more information on the accounting policy for the allowance for unfunded commitments.

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- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References No definition available. + Details
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