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Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Impact of Derivatives on the Consolidated Balance Sheet
The following tables summarize the fair values and notional amounts of all derivative instruments at December 31, 2024 and 2023, and their impact on earnings and other comprehensive income for the years ended December 31, 2024, 2023, and 2022.

Impact of Derivatives on the Consolidated Balance Sheets
Cash Flow HedgesFair Value HedgesTradingTotal
As of December 31,
(dollars in thousands)
20242023202420232024202320242023
Fair Values(1)
Hedged Risk Exposure
Derivative Assets:(2)
Interest rate swapsInterest rate$— $— $— $— $— $— $— $— 
Derivative Liabilities:(2)
Interest rate swaps Interest rate(19)(339)(21)(31)— — (40)(370)
Total net derivatives$(19)$(339)$(21)$(31)$— $— $(40)$(370)
 
(1)Fair values reported include variation margin as legal settlement of the derivative contract. Assets and liabilities are presented without consideration of master netting agreements. Derivatives are carried on the balance sheet based on net position by counterparty under master netting agreements and classified in other assets or other liabilities depending on whether in a net positive or negative position.

(2)The following table reconciles gross positions with the impact of master netting agreements to the balance sheet classification:

    
As of December 31,
(dollars in thousands)
Other AssetsOther Liabilities
2024202320242023
Gross position(1)
$— $— $(40)$(370)
Impact of master netting agreement— — — — 
Derivative values with impact of master netting agreements (as carried on balance sheet)— — (40)(370)
Cash collateral pledged(2)
4,879 9,228 — — 
Net position$4,879 $9,228 $(40)$(370)
    __________
(1) Gross position amounts include accrued interest and variation margin as legal settlement of the derivative contract.
(2) Cash collateral pledged excludes amounts that represent legal settlement of the derivative contracts.
Schedule of Offsetting Assets The following table reconciles gross positions with the impact of master netting agreements to the balance sheet classification:
    
As of December 31,
(dollars in thousands)
Other AssetsOther Liabilities
2024202320242023
Gross position(1)
$— $— $(40)$(370)
Impact of master netting agreement— — — — 
Derivative values with impact of master netting agreements (as carried on balance sheet)— — (40)(370)
Cash collateral pledged(2)
4,879 9,228 — — 
Net position$4,879 $9,228 $(40)$(370)
    __________
(1) Gross position amounts include accrued interest and variation margin as legal settlement of the derivative contract.
(2) Cash collateral pledged excludes amounts that represent legal settlement of the derivative contracts.
Schedule of Offsetting Liabilities The following table reconciles gross positions with the impact of master netting agreements to the balance sheet classification:
    
As of December 31,
(dollars in thousands)
Other AssetsOther Liabilities
2024202320242023
Gross position(1)
$— $— $(40)$(370)
Impact of master netting agreement— — — — 
Derivative values with impact of master netting agreements (as carried on balance sheet)— — (40)(370)
Cash collateral pledged(2)
4,879 9,228 — — 
Net position$4,879 $9,228 $(40)$(370)
    __________
(1) Gross position amounts include accrued interest and variation margin as legal settlement of the derivative contract.
(2) Cash collateral pledged excludes amounts that represent legal settlement of the derivative contracts.
Schedule of Notional Amounts of Outstanding Derivative Positions
Notional Values
Cash FlowFair ValueTradingTotal
As of December 31,
(dollars in thousands)
20242023202420232024202320242023
Interest rate swaps$639,097 $1,203,783 $281,520 $702,309 $— $— $920,617 $1,906,092 
Net total notional$639,097 $1,203,783 $281,520 $702,309 $— $— $920,617 $1,906,092 
Schedule of Cumulative Basis Adjustments for Fair Value Hedges
As of December 31, 2024 and 2023, the following amounts were recorded on the consolidated balance sheet related to cumulative basis adjustments for fair value hedges:
As of December 31,
(dollars in thousands)

Line Item in the Balance Sheet in Which the Hedged Item is Included:
Carrying Amount of the Hedged Assets/(Liabilities)Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities)
2024
2023
20242023
Deposits$(279,908)$(689,137)$1,420 $12,910 
Schedule of Impact of Derivatives on the Consolidated Statements of Income Impact of Derivatives on the Consolidated Statements of Income
Years Ended December 31,
(dollars in thousands)
202420232022
Fair Value Hedges
Interest rate swaps:
Interest recognized on derivatives$(15,278)$(26,054)$16,308 
Hedged items recorded in interest expense(11,490)(18,350)82,043 
Derivatives recorded in interest expense11,554 18,487 (82,063)
Total $(15,214)$(25,917)$16,288 
Cash Flow Hedges
Interest rate swaps:
Amount of gain (loss) reclassified from accumulated other comprehensive income into interest expense$41,221 $47,810 $3,658 
Total $41,221 $47,810 $3,658 
Trading
Interest rate swaps:
Change in fair value of future interest payments recorded in earnings$— $— $(248)
Total— — (248)
Total$26,007 $21,893 $19,698 
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) Impact of Derivatives on the Statements of Changes in Stockholders’ Equity
Years Ended December 31,
(dollars in thousands)
202420232022
Amount of gain (loss) recognized in other comprehensive income (loss)$10,827 $13,353 $97,389 
Less: Amount of gain (loss) reclassified in interest expense41,221 47,810 3,658 
Total change in other comprehensive income (loss) for unrealized gains (losses) on derivatives, before income tax (expense) benefit$(30,394)$(34,457)$93,731