Derivatives (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

(In thousands)	Notional Amount		Fair Value		Balance Sheet Category
December 31, 2023
Back-to-back swaps1	$	605,735	$	28,804	Other Assets and Other Liabilities
Securities fair value hedges	400,000		2,677		Other Assets
Residential mortgage fair value hedges	200,000		75		Other Liabilities
December 31, 2022
Back-to-back swaps1	$	312,808	$	23,140	Other Assets and Other Liabilities
Interest rate floors	300,000		2		Other Assets
1Back-to-back swaps include risk participation agreements with notional amounts of $9.4 million and nominal fair value.

The following table presents amounts recorded on the Consolidated Balance Sheet related to cumulative basis adjustments for fair value hedges.

	Carrying amount of the hedged items at December 31,				Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged items at December 31,
(In thousands)	2023		2022		2023		2022
Securities available-for-sale 1	$	584,108	$	—	$	2,643	$	—
Loans, net 2	633,693		—		44		—
1 At December 31, 2023, and December 31, 2022, the amortized cost basis and unallocated basis adjustments used in hedging relationships was $680.6 million and $0, respectively. Refer to Note 3 for a reconciliation of the amortized cost and fair value of available-for-sale securities.
2 These amounts represent the amortized cost basis of closed portfolios used to designate hedging relationships in which the hedged item is the stated amount of assets in the closed portfolios anticipated to be outstanding for the designated hedge period. At December 31, 2023, and December 31, 2022, the portfolio layer method was $200 million and $0, respectively, of which $200 million and $0, respectively, was designated as hedged..