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Derivatives and Hedging Activities (Tables) | 12 Months Ended
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Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Balance Sheet Category and Fair Value Schedule | The table below identifies the balance sheet category and fair value of the Company’s derivative instruments as of December 31, 2024 and 2023. The Company has a minimum collateral posting threshold with its derivative counterparty. If the Company had breached any provisions under the agreement at December 31, 2024, it could have been required to settle its obligations under the agreement at the termination value.
|  | December 31, 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 |  | 697,086 |  |  | 31,592 |  |  | Other Assets |  | 651,429 |  |  | 30,288 |  |  | Other Assets
Credit risk participation agreements |  | 49,480 |  |  | — |  |  | Other Liabilities |  | 49,480 |  |  | 3 |  |  | Other Assets
|  | 746,566 |  |  | 31,592 |  |  |  |  | 700,909 |  |  | 30,291 |  |  |
Total derivatives in an asset position |  | $ | 746,566 |  |  | $ | 31,592 |  |  |  |  | $ | 1,000,909 |  |  | $ | 30,665 |  |  |
Derivatives in a liability position: |  |  |  |  |  |  |  |  |  |  |  |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate product |  | $ | 697,086 |  |  | $ | 29,110 |  |  | Other Liabilities |  | $ | 654,757 |  |  | $ | 30,555 |  |  | Other Liabilities
Schedule of Pretax Net Gains (Losses) of Designated Cash Flow Hedges | The table below presents the pre-tax net gains (losses) of the Company’s designated cash flow hedges for the years ended December 31, 2024, 2023 and 2022.
The Effect of Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss)
|  | Amount of Gain (Loss) Recognized in OCI |  | Location of Gain (Loss) Recognized from Accumulated Other Comprehensive Income (Loss) into Income (Loss) |  | Amount of Gain (Loss) Reclassified from Accumulated OCI into Income
(dollars in thousands) |  | Total |  | Included Component |  | Excluded Component |  |  | Total |  | Included Component |  | Excluded Component
Year ended December 31, 2024: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives in cash flow hedging relationships: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate products |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | Interest expense |  | $ | 32 |  |  | $ | 32 |  |  | $ | — |
Year ended December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives in cash flow hedging relationships: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate products |  | $ | (256) |  |  | $ | — |  |  | $ | (256) |  |  | Interest expense |  | $ | (14) |  |  | $ | — |  |  | $ | (14) |
Year ended December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivatives in cash flow hedging relationships: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate products |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | Interest expense |  | $ | — |  |  | $ | — |  |  | $ | — |
Schedule of the Effect of Derivative Financial Instruments on the Consolidated Statements of Operations | The tables below present the effect of the Company’s derivative financial instruments on the Consolidated Statements of Operations for the years ended December 31, 2024, 2023 and 2022.
The Effect of Cash Flow Hedge Accounting on the Consolidated Statements of Operations
|  | Year Ended Years Ended
|  | 2024 |  | 2023 |  | 2022
(dollars in thousands) |  | Interest Expense |  | Interest Expense |  | Interest Expense
Total amounts of expense line items presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded |  | $ | 32 |  |  | $ | (14) |  |  | $ | — |
The effect of cash flow hedging: |  |  |  |  |  |
Gain (loss) on cash flow hedging relationships: |  |  |  |  |  |
Interest rate products: |  |  |  |  |  |
Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (loss) |  | $ | 32 |  |  | $ | (14) |  |  | $ | — |
Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (loss) - included component |  | $ | 32 |  |  | $ | — |  |  | $ | — |
Amount of gain (loss) reclassified from accumulated other comprehensive income (loss) into income (loss) - excluded component |  | $ | — |  |  | $ | (14) |  |  | $ | — |
Effect of Derivatives Not Designated as Hedging Instruments on the Consolidated Statements of Operations
(dollars in thousands) |  | Location of Gain or (Loss) Recognized in Income on Derivative |  | Amount of Gain or (Loss) Recognized in Income on Derivatives
|  | Year Ended Years Ended
|  | 2024 |  | 2023 |  | 2022
Derivatives Not Designated as Hedging Instruments under ASC 815-20: |  |  |  |  |  |  |  |
Interest rate products |  | Other income / (expense) |  | $ | 1,940 |  |  | $ | 2,712 |  |  | $ | 3,057 |
Mortgage banking derivatives |  | Other income |  | — |  |  | — |  |  | 671 |
Total |  |  |  | $ | 1,940 |  |  | $ | 2,712 |  |  | $ | 3,728 |

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