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Derivative Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Fair Value of Derivative Instruments on Balance Sheet | The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023.
| Asset Derivatives Fair Value at |  | Liability Derivatives Fair Value at
(Dollars in thousands) | March 31, 2024 | December 31, 2023 | Balance Sheet Classification |  | March 31, 2024 | December 31, 2023 | Balance Sheet Classification
Interest rate swaps | $ | 21,490 |  | $ | 16,417 |  | Other assets, net |  | $ | — |  | $ | — |  | Other liabilities, net
The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the Condensed Consolidated Balance Sheets.
Offsetting of Derivative Assets (as of March 31, 2024)
|  |  |  | Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
(In thousands) | Gross Amounts of Recognized Assets | Gross Amounts Offset in the Condensed Consolidated Balance Sheet | Net Amounts of Assets in the Condensed Consolidated Balance Sheets | Financial Instruments | Cash Collateral Received | Net Amount
Derivatives | $ | 21,490 |  | $ | — |  | $ | 21,490 |  | $ | — |  | $ | — |  | $ | 21,490 |
Offsetting of Derivative Liabilities (as of March 31, 2024)
|  |  |  | Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
(In thousands) | Gross Amounts of Recognized Liabilities | Gross Amounts Offset in the Condensed Consolidated Balance Sheet | Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets | Financial Instruments | Cash Collateral Received | Net Amount
Derivatives | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Offsetting of Derivative Assets (as of December 31, 2023)
|  |  |  | Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
(In thousands) | Gross Amounts of Recognized Assets | Gross Amounts Offset in the Condensed Consolidated Balance Sheet | Net Amounts of Assets in the Condensed Consolidated Balance Sheets | Financial Instruments | Cash Collateral Received | Net Amount
Derivatives | $ | 16,417 |  | $ | — |  | $ | 16,417 |  | $ | — |  | $ | — |  | $ | 16,417 |
Offsetting of Derivative Liabilities (as of December 31, 2023)
|  |  |  | Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
(In thousands) | Gross Amounts of Recognized Liabilities | Gross Amounts Offset in the Condensed Consolidated Balance Sheet | Net Amounts of Liabilities in the Condensed Consolidated Balance Sheets | Financial Instruments | Cash Collateral Received | Net Amount
Derivatives | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
Schedule of Cash Flow Hedging | The table below details the location in the financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the three months ended March 31, 2024 and 2023.
| Three Months Ended March 31, |  |
(Dollars in thousands) | 2024 | 2023 |  |  |
Amount of unrealized gain (loss) recognized in OCI on derivative | $ | 7,870 |  | $ | (4,973) |  |  |  |
Amount of gain reclassified from AOCI into interest expense | $ | (2,797) |  | $ | (2,010) |  |  |  |
Total interest expense presented in the Condensed Consolidated Statements of Income in which the effects of the cash flow hedges are recorded | $ | 5,062 |  | $ | 3,992 |  |  |  |

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