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Note 19 - Derivative Instruments (Tables) | 9 Months Ended
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Sep. 30, 2024
Notes Tables |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] |
|  | Derivative Assets (1) |  |  | Derivative Liabilities (2) |
|  | Notional |  |  | Fair |  |  | Notional |  |  | Fair |
(dollars in thousands) |  | Amount |  |  | Value |  |  | Amount |  |  | Value |
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | — |  |  | $ | — |  |  | $ | 200,000 |  |  | $ | 1,113 |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  | — |  |  |  | — |  |  |  | 200,000 |  |  |  | 458 |
Total derivatives designated as hedging instruments |  | $ | — |  |  | $ | — |  |  | $ | 400,000 |  |  | $ | 1,571 |
Not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps (3) |  | $ | 423,909 |  |  | $ | 11,740 |  |  | $ | 423,909 |  |  | $ | 11,740 |
Interest rate lock commitments |  |  | 19,425 |  |  |  | 377 |  |  |  | — |  |  |  | — |
Forward loan sales commitments |  |  | 1,597 |  |  |  | 60 |  |  |  | — |  |  |  | — |
To-be-announced mortgage backed securities |  |  | — |  |  |  | — |  |  |  | 39,250 |  |  |  | 18 |
Total asset derivatives not designated as hedging instruments |  | $ | 444,931 |  |  | $ | 12,177 |  |  | $ | 463,159 |  |  | $ | 11,758 |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | — |  |  | $ | — |  |  | $ | 600,000 |  |  | $ | 352 |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  | — |  |  |  | — |  |  |  | 200,000 |  |  |  | 297 |
Total derivatives designated as hedging instruments |  | $ | — |  |  | $ | — |  |  | $ | 800,000 |  |  | $ | 649 |
Not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps (3) |  | $ | 120,671 |  |  | $ | 8,327 |  |  | $ | 120,671 |  |  | $ | 8,348 |
Interest rate lock commitments |  |  | 8,126 |  |  |  | 179 |  |  |  | — |  |  |  | — |
Forward loan sales commitments |  |  | 190 |  |  |  | 6 |  |  |  | — |  |  |  | — |
To-be-announced mortgage backed securities |  |  | — |  |  |  | — |  |  |  | 20,500 |  |  |  | 183 |
Total asset derivatives not designated as hedging instruments |  | $ | 128,987 |  |  | $ | 8,512 |  |  | $ | 141,171 |  |  | $ | 8,531 |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] |
|  |  |  |  |  | Gains (Losses) |
|  | Gains (Losses) |  |  | Reclassified |
|  | Recognized in |  |  | from OCI |
(dollars in thousands) |  | OCI |  |  | into Earnings |
Derivatives designated as hedging instruments |  |  |  |  |  |  |  |
For the three months ended September 30, 2024 |  |  |  |  |  |  |  |
Cash flow hedges: |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | (616 | ) |  | $ | 253 |
For the three months ended September 30, 2023 |  |  |  |  |  |  |  |
Cash flow hedges: |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 1,216 |  |  | $ | (205 | )
For the nine months ended September 30, 2024 |  |  |  |  |  |  |  |
Cash flow hedges: |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 625 |  |  | $ | 785 |
For the nine months ended September 30, 2023 |  |  |  |  |  |  |  |
Cash flow hedges: |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 1,216 |  |  | $ | (205 | )
Schedule of Effect of Fair Value and Cash Flow Hedge on Derivatives Included in Statement of Income [Table Text Block] |
|  | 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 three months ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Total amounts in the Consolidated Statements of Income |  | $ | 42,593 |  |  | $ | 4,596 |  |  | $ | 6,706 |
Fair value hedges: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  | 46 |  |  |  | 653 |  |  |  | — |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  | — |  |  |  | — |  |  |  | (253 | )
For the three months ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Total amounts in the Consolidated Statements of Income |  | $ | 34,986 |  |  | $ | 6,146 |  |  | $ | 6,528 |
Fair value hedges: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  | 71 |  |  |  | 606 |  |  |  | — |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  | — |  |  |  | — |  |  |  | (205 | )
For the nine months ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Total amounts in the Consolidated Statements of Income |  | $ | 123,551 |  |  | $ | 14,008 |  |  | $ | 19,748 |
Fair value hedges: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  | 367 |  |  |  | 1,954 |  |  |  | — |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  | — |  |  |  | — |  |  |  | (785 | )
For the nine months ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Total amounts in the Consolidated Statements of Income |  | $ | 99,187 |  |  | $ | 18,222 |  |  | $ | 15,684 |
Fair value hedges: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  | 71 |  |  |  | 1,229 |  |  |  | — |
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  |  | — |  |  |  | — |  |  |  | (205 | )
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] |
|  | September 30, 2024 |
|  |  |  |  |  |  |  |  |  | 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 |  |  | $ | 201,113 |  |  | $ | 1,113 |
Total |  | $ | 200,000 |  |  | $ | 201,113 |  |  | $ | 1,113 |
|  | 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 |
Derivative Instruments, Gain (Loss) [Table Text Block] |
(dollars in thousands) |  |  | Three months ended September 30, |  |  | Nine months ended September 30, |
Derivatives not designated as hedging instruments | Consolidated Statements of Income Location |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Interest rate swaps | Other noninterest income |  | $ | — |  |  | $ | 121 |  |  | $ | 21 |  |  | $ | 121 |
Interest rate lock commitments | Mortgage banking |  |  | (111 | ) |  |  | (342 | ) |  |  | 100 |  |  |  | 87 |
Forward loan sales commitments | Mortgage banking |  |  | (116 | ) |  |  | (9 | ) |  |  | 54 |  |  |  | 55 |
To-be-announced mortgage backed securities | Mortgage banking |  |  | (315 | ) |  |  | 221 |  |  |  | (189 | ) |  |  | 350 |
Total gain (loss) from derivatives not designated as hedging instruments |  | $ | (542 | ) |  | $ | (9 | ) |  | $ | (14 | ) |  | $ | 613 |
Schedule Of Offsetting Derivative Assets And Liabilities [Table Text Block] |
|  |  |  |  |  |  |  |  |  |  |  |  |  | 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 |
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps − Company (1) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest rate swaps − dealer bank (1) |  |  | 11,740 |  |  |  | — |  |  |  | 11,740 |  |  |  | (6,068 | ) |  |  | 5,672 |
To-be-announced mortgage backed securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 11,740 |  |  | $ | — |  |  | $ | 11,740 |  |  | $ | (6,068 | ) |  | $ | 5,672 |
Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps − Company (1) |  | $ | 1,571 |  |  | $ | — |  |  | $ | 1,571 |  |  | $ | 752 |  |  | $ | 819 |
Interest rate swaps − customer (2) |  |  | 11,740 |  |  |  | — |  |  |  | 11,740 |  |  |  | — |  |  |  | 11,740 |
To-be-announced mortgage backed securities |  |  | 18 |  |  |  | — |  |  |  | 18 |  |  |  | — |  |  |  | 18 |
Total |  | $ | 13,329 |  |  | $ | — |  |  | $ | 13,329 |  |  | $ | 752 |  |  | $ | 12,577 |
|  |  |  |  |  |  |  |  |  |  |  |  |  | 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 |

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