XML 56 R38.htm IDEA: XBRL DOCUMENT v3.25.0.1
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Derivatives [Table Text Block]
As of December 31, 2024 and 2023, the Company had the following outstanding interest rate derivatives that are designated as cash flow hedges of interest rate risk:
NOTIONAL VALUE OF INTEREST RATE DERIVATIVESDecember 31,
2024
December 31,
2023
(In thousands)
Interest Rate Swap$100,000 100,000 
Interest Rate Swap100,000 100,000 
Interest Rate Swap50,000 50,000 
Interest Rate Swap100,000 100,000 
Interest Rate Swap75,000 75,000 
Interest Rate Swap 50,000 
Interest Rate Swap100,000 100,000 
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of December 31, 2024 and 2023. See Note 16 for additional information on the fair value of the Company’s interest rate swaps.
DERIVATIVES DESIGNATED AS CASH FLOW HEDGES AT FAIR VALUEDecember 31,
2024
December 31,
2023
(In thousands)
Interest rate swap assets (1)
$21,953 27,366 
Interest rate swap liabilities (2)
— 2,478 
(1) Included in Other assets on the Consolidated Balance Sheets.
(2) Included in Other Liabilities on the Consolidated Balance Sheets.
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance
The table below presents the effect of the Company’s derivative financial instruments (interest rate swaps) on the Consolidated Statements of Income and Comprehensive Income for the years ended December 31, 2024, 2023 and 2022:
Years Ended December 31,
DERIVATIVES IN CASH FLOW HEDGING RELATIONSHIPS202420232022
 (In thousands)
Amount of income recognized in Other comprehensive income (loss) on
    derivatives                                                                                            
$14,869 6,319 37,563 
Amount of (income) loss reclassified from Accumulated other comprehensive
    income into Interest expense
(17,804)(17,802)(2,494)