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Balance Sheet Offsetting (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Assets and Liabilities Subject to an Enforceable Master Netting Arrangement or Repurchase Agreements

The following table presents the assets and liabilities subject to an enforceable master netting arrangement, or repurchase agreements, as of December 31, 2023, and December 31, 2022. Swap agreements the Company has with commercial banking customers are not subject to an enforceable master netting arrangement, and therefore, are excluded from this table. As previously mentioned, centrally cleared swap agreements between the Company and institutional counterparties are also excluded from this table.


	(i)		(ii)		(iii) = (i)-(ii)		(iv)				(v) = (iii)- (iv)
							Gross Amounts Not Offset in the Statements of Condition
(dollars in thousands)	Gross Amounts Recognized in the Statements of Condition		Gross Amounts Offset in the Statements of Condition		Net Amounts Presented in the Statements of Condition		Netting Adjustments per Master Netting Arrangements		Fair Value of Collateral Pledged 1		Net Amount
December 31, 2023
Assets:
Interest Rate Swap Agreements:
Institutional Counterparties	$	129,147	$	—	$	129,147	$	129,147	$	—	$	—

Liabilities:
Interest Rate Swap Agreements:
Institutional Counterparties		14,605		—		14,605		14,605		—		—

Repurchase Agreements:
Private Institutions		150,000		—		150,000		—		150,000		—
Government Entities		490		—		490		—		490		—
Total Repurchase Agreements	$	150,490	$	—	$	150,490	$	—	$	150,490	$	—

December 31, 2022
Assets:
Interest Rate Swap Agreements:
Institutional Counterparties	$	42,339	$	—	$	42,339	$	42,339	$	—	$	—

Liabilities:
Interest Rate Swap Agreements:
Institutional Counterparties		3,554		—		3,554		3,554		—		—

Repurchase Agreements:
Private Institutions		725,000		—		725,000		—		725,000		—
Government Entities		490		—		490		—		490		—
Total Repurchase Agreements	$	725,490	$	—	$	725,490	$	—	$	725,490	$	—

The application of collateral cannot reduce the net amount below zero. Therefore, excess collateral is not reflected in this table. For interest rate swap agreements, the fair value of investment securities pledged was $39.2 million and $34.8 million as of December 31, 2023, and December 31, 2022, respectively. For repurchase agreements with private institutions, the fair value of investment securities pledged was $167.3 million and $755.9 million as of December 31, 2023, and December 31, 2022, respectively. For repurchase agreements with government entities, the fair value of investment securities pledged was $0.7 million and $0.8 million as of December 31, 2023, and December 31, 2022, respectively.