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Derivatives and Hedging Activities (Tables)
9 Months Ended
Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Balance Sheet Category and Fair Value
The table below identifies the balance sheet category and fair value of the Company’s derivative instruments. The Company has a minimum collateral posting threshold with its derivative counterparty. If the Company had breached any provisions under the agreement as of September 30, 2025, it could have been required to settle its obligations under the agreement at the termination value.
As of
September 30, 2025December 31, 2024
(dollars in thousands)Notional
Amount
Fair ValueBalance Sheet
Category
Notional
Amount
Fair ValueBalance Sheet
Category
Derivatives in an asset position:
Derivatives designated as hedging instruments:
Interest rate product$— $— Other Assets$— $— Other Assets
Derivatives not designated as hedging instruments:
Interest rate product905,216 31,193 Other Assets697,086 31,592 Other Assets
Credit risk participation agreements21,638 — Other Liabilities49,480 — Other Liabilities
Total derivatives in an asset position$926,854 $31,193 $746,566 $31,592 
Derivatives in a liability position:
Derivatives designated as hedging instruments:
Interest rate product$28,423 $1,108 Other Liabilities$— $— Other Liabilities
Derivatives not designated as hedging instruments:
Interest rate product905,216 24,083 Other Liabilities697,086 $29,110 Other Liabilities
Total derivatives in a liability position
$933,639 $25,191 $697,086 $29,110 
Schedule of the Effect of Derivative Financial Instruments
The table below presents the effect of the Company’s derivative financial instruments on the Consolidated Statements of Operations.
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
For the Three Months Ended September 30,For the Nine Months Ended September 30,
2025202420252024
Derivatives Not Designated as Hedging Instruments under ASC 815-20:
Interest rate productsOther income / (expense)$274 $843 $834 $1,321