XML 84 R61.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Derivative Instruments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Derivative Instruments |
Schedule of total notional amounts and gross fair values of the Company's derivatives |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | December 31, 2023 | ​ | December 31, 2022
​ | ​ | ​ | ​ | Fair | ​ | Notional | ​ | Fair | ​ | Notional
(dollars in thousands) |  | ​ |  | Value |  | Amount |  | Value |  | Amount
Designated as hedging instruments: | ​ | Consolidated Balance Sheet Location | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fair value hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps | ​ | Accrued expenses and other liabilities | ​ | $ | 352 | ​ | $ | 600,000 | ​ | $ | — | ​ | $ | —
Cash flow hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps | ​ | Accrued expenses and other liabilities | ​ | ​ | 297 | ​ | ​ | 200,000 | ​ | ​ | — | ​ | ​ | —
Total derivatives designated as hedging instruments | ​ | ​ | ​ | $ | 649 | ​ | $ | 800,000 | ​ | $ | — | ​ | $ | —
Not designated as hedging instruments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Asset Derivatives |  | ​ |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Interest rate swaps (1) |  | Other assets | ​ | $ | 8,327 | ​ | $ | 120,671 | ​ | $ | 6,277 | ​ | $ | 43,430
Interest rate lock commitments |  | Other assets | ​ | ​ | 179 | ​ | ​ | 8,126 | ​ | ​ | 121 | ​ | ​ | 10,462
Forward loan sales commitments |  | Other assets | ​ |  | 6 | ​ |  | 190 | ​ |  | 7 | ​ |  | 351
Total asset derivatives not designated as hedging instruments |  |  | ​ | $ | 8,512 | ​ | $ | 128,987 | ​ | $ | 6,405 | ​ | $ | 54,243
Liability Derivatives |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate swaps (1) |  | Accrued expenses and other liabilities | ​ | $ | 8,348 | ​ | $ | 120,671 | ​ | $ | 6,277 | ​ | $ | 43,430
To-be-announced mortgage backed securities |  | Accrued expenses and other liabilities | ​ | ​ | 183 | ​ | ​ | 20,500 | ​ | ​ | 26 | ​ | ​ | 25,750
Total liability derivatives not designated as hedging instruments |  |  | ​ | $ | 8,531 | ​ | $ | 141,171 | ​ | $ | 6,303 | ​ | $ | 69,180
(1) | Reported fair values include accrued interest receivable and payable.
Schedule of effective portion of the gains (losses) recognized in other comprehensive income (loss) and the gains (losses) before tax, reclassified from other comprehensive income (loss) into earnings | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Gains (Losses)
​ | ​ | Gains (Losses) | ​ | Reclassified
​ | ​ | Recognized in | ​ | from OCI
(dollars in thousands) | ​ | OCI | ​ | into Earnings
Derivatives designated as hedging instruments | ​ | ​ | ​ | ​ | ​ | ​
For the year ended December 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​
Cash flow hedges: | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps | ​ | $ | 176 | ​ | $ | 473
​ ​ The following table shows the effect of fair value and cash flow hedge accounting on derivatives designated as hedging instruments in the Consolidated Statements of Income:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Location and Amount of Gains (Losses) Recognized in Income
​ | ​ | Interest Income | ​ | Interest Expense
​ | ​ | Loans, | ​ | Investment | ​ | ​
​ | ​ | including | ​ | securities - | ​ | Short-term
(dollars in thousands) |  | fees |  | Taxable |  | borrowings
For the year ended December 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total amounts in the Consolidated Statements of Income | ​ | $ | 136,918 | ​ | $ | 24,262 | ​ | $ | 20,976
Fair value hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps | ​ | ​ | 252 | ​ | ​ | 1,881 | ​ | ​ | —
Cash flow hedges: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (473)
Schedule of notional amount, carrying amount and associated cumulative basis adjustments related to the application of hedge accounting | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Cumulative Fair
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Value Hedging
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Adjustment in the
​ | ​ | ​ | ​ | Carrying Amount | ​ | Carrying Amount of
​ | ​ | Notional | ​ | of Hedged Assets/ | ​ | Hedged Assets/
(dollars in thousands) | ​ | Amount | ​ | Liabilities | ​ | Liabilities
Mortgage-backed securities |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​
Residential agency (1) | ​ | $ | 200,000 | ​ | $ | 200,241 | ​ | $ | 241
Mortgage loan pools (2) | ​ | ​ | 400,000 | ​ | ​ | 400,098 | ​ | ​ | 98
Total | ​ | $ | 600,000 | ​ | $ | 600,339 | ​ | $ | 339
(1) | Includes amounts related to residential agency mortgage-backed securities currently designated as the hedged item in a fair value hedge using the portfolio layer method. At December 31, 2023, the amortized cost of the closed portfolios used in these hedging relationships was $323.4 million.
(2) | These amounts include the amortized cost basis of residential real estate loans that were used to designate hedging relationships in which the hedged item is the stated amount of assets in the closed portfolio anticipated to be outstanding for the designated hedged period. At December 31, 2023, the amortized cost basis of the residential real estate loans used in these hedging relationships was $687.5 million.
​
Schedule of gain (loss) recognized on derivatives instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(dollars in thousands) | ​ | ​ | ​ | Year ended December 31,
Derivatives not designated as hedging instruments |  | Consolidated Statements of Income Location |  | 2023 |  | 2022 |  | 2021
Interest rate swaps |  | Other noninterest income | ​ | $ | (20) | ​ | $ | 2 | ​ | $ | 1
Interest rate lock commitments |  | Mortgage banking | ​ | ​ | 165 | ​ | ​ | (1,464) | ​ | ​ | (8,660)
Forward loan sales commitments |  | Mortgage banking | ​ | ​ | (1) | ​ | ​ | (483) | ​ | ​ | (2,174)
To-be-announced mortgage backed securities |  | Mortgage banking | ​ |  | 118 | ​ |  | 4,916 | ​ | ​ | 5,220
Total gain (loss) from derivatives not designated as hedging instruments |  | ​ | ​ | $ | 262 | ​ | $ | 2,971 | ​ | $ | (5,613)
Schedule of derivative positions and the potential effect of netting arrangements on its financial position | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Gross Amount | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Not Offset in the | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Consolidated | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Balance Sheets | ​ | ​ | ​
​ | ​ | Gross Amount | ​ | Gross Amount | ​ | Net Amount | ​ | ​ | ​ | ​ | ​
​ | ​ | Recognized in the | ​ | Offset in the | ​ | Presented in the | ​ | ​ | ​ | ​ | ​
​ | ​ | Consolidated | ​ | Consolidated | ​ | Consolidated | ​ | Cash Collateral | ​ | ​ | ​
(dollars in thousands) | ​ | Balance Sheets | ​ | Balance Sheets | ​ | Balance Sheets | ​ | Pledged (Received) | ​ | Net Amount
December 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps - Company (1) | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Interest rate swaps - dealer bank (1) | ​ | ​ | 8,327 | ​ | ​ | — | ​ | ​ | 8,327 | ​ | ​ | (1,740) | ​ | ​ | 6,587
To-be-announced mortgage backed securities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 8,327 | ​ | $ | — | ​ | $ | 8,327 | ​ | $ | (1,740) | ​ | $ | 6,587
Derivative liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps - Company (1) | ​ | $ | 649 | ​ | $ | — | ​ | $ | 649 | ​ | $ | 550 | ​ | $ | 99
Interest rate swaps - customer (2) | ​ | ​ | 8,348 | ​ | ​ | — | ​ | ​ | 8,348 | ​ | ​ | — | ​ | ​ | 8,348
To-be-announced mortgage backed securities | ​ | ​ | 183 | ​ | ​ | — | ​ | ​ | 183 | ​ | ​ | — | ​ | ​ | 183
Total | ​ | $ | 9,180 | ​ | $ | — | ​ | $ | 9,180 | ​ | $ | 550 | ​ | $ | 8,630
December 31, 2022 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps - Company (1) | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Interest rate swaps - dealer bank (1) | ​ | ​ | 6,277 | ​ | ​ | — | ​ | ​ | 6,277 | ​ | ​ | (6,030) | ​ | ​ | 247
To-be-announced mortgage backed securities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 6,277 | ​ | $ | — | ​ | $ | 6,277 | ​ | $ | (6,030) | ​ | $ | 247
Derivative liabilities: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate swaps - customer (2) | ​ | $ | 6,277 | ​ | $ | — | ​ | $ | 6,277 | ​ | $ | 309 | ​ | $ | 5,968
To-be-announced mortgage backed securities | ​ | ​ | 26 | ​ | ​ | — | ​ | ​ | 26 | ​ | ​ | — | ​ | ​ | 26
Total | ​ | $ | 6,303 | ​ | $ | — | ​ | $ | 6,303 | ​ | $ | 309 | ​ | $ | 5,994
(1) | The Company maintains a master netting agreement with each counterparty and settles collateral on a net basis for all interest rate swaps with counterparty banks.
(2) | The Company manages its net exposure on its customer loan swaps by obtaining collateral as part of the normal loan policy and underwriting practices. The Company does not post collateral to its customers as part of its contract.
​

X
- Definition Tabular disclosure of derivative assets and derivative liabilities that are subject to offsetting, including master netting arrangements. + References No definition available. + Details
Name: | alrs_OffsettingAssetsAndLiabilitiesTabletextblock
Namespace Prefix: | alrs_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C + Details
Name: | us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -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 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for fair value hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the 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 4C -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C + Details
Name: | us-gaap_ScheduleOfFairValueHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration