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Derivatives and Hedging Activities (Tables)

12 Months Ended

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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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.

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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.

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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.

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