XML 45 R34.htm IDEA: XBRL DOCUMENT v3.25.1
Derivative Instruments (Tables)
 3 Months Ended
Mar. 31, 2025
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 SheetMarch 31, 2025December 31, 2024
 LocationNotional AmountFair ValueNotional AmountFair Value
Derivative assets:
  Interest rate contractsOther Assets$910,697 $14,887 $877,051 $14,071 
  Interest rate lock commitmentsOther Assets158,289 2,244 64,365 861 
Forward commitmentsOther Assets45,000 26 174,000 1,242 
Totals$1,113,986 $17,157 $1,115,416 $16,174 
Derivative liabilities:
  Interest rate contractsOther Liabilities$911,021 $14,899 $880,371 $14,094 
Interest rate lock commitmentsOther Liabilities13,067 57 1,829 122 
  Forward commitmentsOther Liabilities215,000 1,390 52,000 86 
Totals$1,139,088 $16,346 $934,200 $14,302 
The following table provides a summary of the Company’s derivatives designated as cash flow hedges as of the dates presented:
 Balance SheetMarch 31, 2025December 31, 2024
 LocationNotional AmountFair ValueNotional AmountFair Value
Derivative assets:
  Interest rate swapsOther Assets$130,000 $19,971 $130,000 $22,780 
  Interest rate collarsOther Assets450,000 434 — — 
Total$580,000 $20,405 $130,000 $22,780 
Derivative liabilities:
  Interest rate collarsOther Liabilities$— $— $450,000 $598 
Totals$— $— $450,000 $598 
The following table provides a summary of the Company's derivatives designated as fair value hedges as of the dates presented:
 Balance SheetMarch 31, 2025December 31, 2024
 LocationNotional AmountFair ValueNotional AmountFair Value
Derivative liabilities:
  Interest rate swapsOther Liabilities$100,000 $15,131 $100,000 $17,369 
Schedule of Gains (Losses) on Derivative Financial Instruments Included in the Consolidated Statements of Income
Gains and losses included in the Consolidated Statements of Income related to the Company’s derivative financial instruments were as follows as of the dates presented:
Three Months Ended March 31,
 20252024
Interest rate contracts:
Included in interest income on loans$2,889 $3,191 
Interest rate lock commitments:
Included in mortgage banking income1,448 808 
Forward commitments
Included in mortgage banking income(2,519)2,067 
Total$1,818 $6,066 
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 StatementThree Months Ended March 31,
 Location20252024
Derivative liabilities:
  Interest rate swaps - subordinated notesInterest Expense$2,238 $(1,511)
Derivative liabilities - hedged items:
  Interest rate swaps - subordinated notesInterest Expense$(2,238)$1,511 
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 LocationMarch 31, 2025December 31, 2024March 31, 2025December 31, 2024
Long-term debt$83,929 $81,648 $15,131 $17,369 
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
March 31,
2025		December 31, 2024March 31,
2025		December 31, 2024
Gross amounts recognized$26,825 $34,505 $22,917 $28,550 
Gross amounts offset in the Consolidated Balance Sheets— — — — 
Net amounts presented in the Consolidated Balance Sheets26,825 34,505 22,917 28,550 
Gross amounts not offset in the Consolidated Balance Sheets
Financial instruments21,553 27,939 21,553 27,939 
Financial collateral pledged— — 553 611 
Net amounts$5,272 $6,566 $811 $— 
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
March 31,
2025		December 31, 2024March 31,
2025		December 31, 2024
Gross amounts recognized$26,825 $34,505 $22,917 $28,550 
Gross amounts offset in the Consolidated Balance Sheets— — — — 
Net amounts presented in the Consolidated Balance Sheets26,825 34,505 22,917 28,550 
Gross amounts not offset in the Consolidated Balance Sheets
Financial instruments21,553 27,939 21,553 27,939 
Financial collateral pledged— — 553 611 
Net amounts$5,272 $6,566 $811 $—