Securities Sold Under Agreements to Repurchase (Tables)

6 Months Ended

Jun. 30, 2025

Securities Sold under Agreements to Repurchase [Abstract]

Remaining Contractual Maturities of Repurchase Agreements by Class of Collateral Pledged

The following table presents the remaining contractual maturities of the Company’s repurchase agreements as of June 30, 2025 and December 31, 2024, by collateral pledged.

	Remaining Contractual Maturity of Repurchase Agreements
(dollars in thousands)	Up to 90 days		91-365 days		1-3 Years		After 3 Years		Total
June 30, 2025
Mortgage-Backed Securities:
Residential - Government Agencies or Sponsored Enterprises	$	—	$	—	$	—	$	50,000	$	50,000
December 31, 2024
Mortgage-Backed Securities:
Residential - Government Agencies or Sponsored Enterprises	$	—	$	—	$	50,000	$	50,000	$	100,000

Offsetting Assets

The following table presents the assets and liabilities subject to an enforceable master netting arrangement, or repurchase agreements as of June 30, 2025 and December 31, 2024. The Company has swap agreements with commercial banking customers that are not subject to an enforceable master netting arrangement, and therefore, are excluded from this table. Interest rate swaps that are designated as fair value hedges between the Company and institutional counterparties are also excluded from this table. See Note 10. Derivative Financial Instruments for more information on swap agreements.

	(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/ Received 1		Net Amount
June 30, 2025
Assets:
Interest Rate Swap Agreements:
Institutional Counterparties	$	94,597	$	—	$	94,597	$	11,795	$	82,802	$	—
Liabilities:
Interest Rate Swap Agreements:
Institutional Counterparties	11,795		—		11,795		11,795		—		—
Repurchase Agreements:
Private Institutions	50,000		—		50,000		—		50,000		—
Total Repurchase Agreements	$	50,000	$	—	$	50,000	$	—	$	50,000	$	—
December 31, 2024
Assets:
Interest Rate Swap Agreements:
Institutional Counterparties	$	141,571	$	—	$	141,571	$	5,446	$	136,125	$	—
Liabilities:
Interest Rate Swap Agreements:
Institutional Counterparties	5,446		—		5,446		5,446		—		—
Repurchase Agreements:
Private Institutions	100,000		—		100,000		—		100,000		—
Total Repurchase Agreements	$	100,000	$	—	$	100,000	$	—	$	100,000	$	—

1The application of collateral cannot reduce the net amount below zero. Therefore, excess collateral is not reflected in this table. For repurchase agreements with private institutions, the fair value of investment securities pledged was $56.0 million and $109.5 million as of June 30, 2025 and December 31, 2024, respectively.

Offsetting Liabilities

The following table presents the assets and liabilities subject to an enforceable master netting arrangement, or repurchase agreements as of June 30, 2025 and December 31, 2024. The Company has swap agreements with commercial banking customers that are not subject to an enforceable master netting arrangement, and therefore, are excluded from this table. Interest rate swaps that are designated as fair value hedges between the Company and institutional counterparties are also excluded from this table. See Note 10. Derivative Financial Instruments for more information on swap agreements.

	(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/ Received 1		Net Amount
June 30, 2025
Assets:
Interest Rate Swap Agreements:
Institutional Counterparties	$	94,597	$	—	$	94,597	$	11,795	$	82,802	$	—
Liabilities:
Interest Rate Swap Agreements:
Institutional Counterparties	11,795		—		11,795		11,795		—		—
Repurchase Agreements:
Private Institutions	50,000		—		50,000		—		50,000		—
Total Repurchase Agreements	$	50,000	$	—	$	50,000	$	—	$	50,000	$	—
December 31, 2024
Assets:
Interest Rate Swap Agreements:
Institutional Counterparties	$	141,571	$	—	$	141,571	$	5,446	$	136,125	$	—
Liabilities:
Interest Rate Swap Agreements:
Institutional Counterparties	5,446		—		5,446		5,446		—		—
Repurchase Agreements:
Private Institutions	100,000		—		100,000		—		100,000		—
Total Repurchase Agreements	$	100,000	$	—	$	100,000	$	—	$	100,000	$	—

1The application of collateral cannot reduce the net amount below zero. Therefore, excess collateral is not reflected in this table. For repurchase agreements with private institutions, the fair value of investment securities pledged was $56.0 million and $109.5 million as of June 30, 2025 and December 31, 2024, respectively.