Derivatives (Tables)

3 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

(In thousands)	Notional Amount		Fair Value		Balance Sheet Category
March 31, 2025
Interest rate contracts1	$	957,893	$	26,848	Other Assets and Other Liabilities
Securities fair value hedges	400,000		125		Other Assets
Residential mortgage fair value hedges	400,000		16		Other Assets and Other Liabilities
December 31, 2024
Interest rate contracts1	$	910,640	$	28,184	Other Assets and Other Liabilities
Securities fair value hedges	400,000		436		Other Assets
Residential mortgage fair value hedges	400,000		121		Other Assets and Other Liabilities
1Interest rate contracts include risk participation agreements with notional amounts of $28.9 million and $28.9 million at March 31, 2025, and December 31, 2024, respectively with nominal fair value in both periods.

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				Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged items
(In thousands)	March 31, 2025		December 31, 2024		March 31, 2025		December 31, 2024
Securities available-for-sale 1	$	457,037	$	460,126	$	398	$	35
Loans, net 2	582,314		596,632		234		283
1 At March 31, 2025, and December 31, 2024, the amortized cost basis and unallocated basis adjustments used in hedging relationships was $540.4 million and $553.8 million, respectively. Refer to “Note 3 - Securities” for a reconciliation of the amortized cost and fair value of AFS 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 March 31, 2025, the portfolio layer method was $400 million, of which $400 million was designated as hedged. At December 31, 2024, the portfolio layer method was $400 million, of which $400 million was designated as hedged.