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Derivative Instruments (Tables)
12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of derivative financial instruments
The following table provides a summary of the Company’s derivatives not designated as hedging instruments as of the dates presented:
 Balance SheetDecember 31, 2024December 31, 2023
 LocationNotional AmountFair ValueNotional AmountFair Value
Derivative assets:
  Interest rate contractsOther Assets$877,051 $14,071 $532,279 $13,567 
  Interest rate lock commitmentsOther Assets64,365 861 61,957 1,483 
Forward commitmentsOther Assets174,000 1,242 20,000 43 
Totals$1,115,416 $16,174 $614,236 $15,093 
Derivative liabilities:
  Interest rate contractsOther Liabilities$880,371 $14,094 $535,725 $13,567 
Interest rate lock commitmentsOther Liabilities1,829 122 2,292 — 
  Forward commitmentsOther Liabilities52,000 86 165,000 2,605 
Totals$934,200 $14,302 $703,017 $16,172 
The following table provides a summary of the Company’s derivatives designated as cash flow hedges as of the dates presented:
 Balance SheetDecember 31, 2024December 31, 2023
 LocationNotional AmountFair ValueNotional AmountFair Value
Derivative assets:
  Interest rate swapsOther Assets$130,000 $22,780 $130,000 $21,486 
  Interest rate collarsOther Assets— — 200,000 572 
Totals$130,000 $22,780 $330,000 $22,058 
Derivative liabilities:
  Interest rate swapsOther Liabilities$— $— $— $— 
  Interest rate collarsOther Liabilities450,000 598 250,000 384 
Totals$450,000 $598 $250,000 $384 
The following table provides a summary of the Company’s derivatives designated as fair value hedges as of the dates presented:
 Balance SheetDecember 31, 2024December 31, 2023
 LocationNotional AmountFair ValueNotional AmountFair Value
Derivative liabilities:
  Interest rate swapsOther Liabilities$100,000 $17,368 $100,000 $17,052 
Schedule of gains (losses) on derivative financial instruments included in the Consolidated Statements of Income
Gains (losses) included in the Consolidated Statements of Income related to the Company’s derivative financial instruments were as follows, as of the dates presented:
Year Ended December 31,
 202420232022
Interest rate contracts:
Included in interest income on loans$14,128 $8,156 $2,470 
Interest rate lock commitments:
Included in mortgage banking income(713)319 (4,128)
Forward commitments
Included in mortgage banking income3,718 (1,848)(645)
Total$17,133 $6,627 $(2,303)
The following table presents the effects of the Company’s fair value hedge relationships on the Consolidated Statements of Income for the periods presented:
 Amount of Gain (Loss) Recognized in Income
Income StatementYear ended December 31,
 Location202420232022
Derivative liabilities:
  Interest rate swaps - subordinated notesInterest Expense$(317)$2,737 $(14,378)
Derivative liabilities - hedged items:
  Interest rate swaps - subordinated notesInterest Expense$317 $(2,737)$14,378 
Schedule of derivatives instruments statements of financial performance and financial position, location
The following table presents the amounts that were recorded in the Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges as of the dates presented:
Carrying Amount of the Hedged LiabilityCumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Liability
Balance Sheet LocationDecember 31, 2024December 31, 2023December 31, 2024December 31, 2023
Long-term debt$81,648 $81,791 $17,369 $17,052 
Schedule of offsetting Assets The following table presents the Company’s gross derivative positions as recognized in the Consolidated Balance Sheets as well as the net derivative positions, including collateral pledged to the extent the application of such collateral did not reduce the net derivative liability position below zero, had the Company elected to offset those instruments subject to an enforceable master netting agreement as of the dates presented:
Offsetting Derivative AssetsOffsetting Derivative Liabilities
December 31,
2024
December 31,
2023
December 31,
2024
December 31,
2023
Gross amounts recognized$34,505 $29,284 $28,550 $26,425 
Gross amounts offset in the consolidated balance sheets— — — — 
Net amounts presented in the consolidated balance sheets34,505 29,284 28,550 26,425 
Gross amounts not offset in the consolidated balance sheets
Financial instruments27,939 23,863 27,939 23,863 
Financial collateral pledged— — 611 1,074 
Net amounts$6,566 $5,421 $— $1,488 
Schedule of offsetting Liabilities The following table presents the Company’s gross derivative positions as recognized in the Consolidated Balance Sheets as well as the net derivative positions, including collateral pledged to the extent the application of such collateral did not reduce the net derivative liability position below zero, had the Company elected to offset those instruments subject to an enforceable master netting agreement as of the dates presented:
Offsetting Derivative AssetsOffsetting Derivative Liabilities
December 31,
2024
December 31,
2023
December 31,
2024
December 31,
2023
Gross amounts recognized$34,505 $29,284 $28,550 $26,425 
Gross amounts offset in the consolidated balance sheets— — — — 
Net amounts presented in the consolidated balance sheets34,505 29,284 28,550 26,425 
Gross amounts not offset in the consolidated balance sheets
Financial instruments27,939 23,863 27,939 23,863 
Financial collateral pledged— — 611 1,074 
Net amounts$6,566 $5,421 $— $1,488