Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2025

Derivative Financial Instruments

Schedule of derivative financial instruments

				June 30, 2025						December 31, 2024
	Balance Sheet	Notional		Estimated Fair Value				Notional		Estimated Fair Value
(Dollars in thousands)	Location	Amount		Gain		Loss		Amount		Gain		Loss
Fair value hedge of interest rate risk:
Pay fixed rate swap with counterparty	Other Assets	$	2,835	$	57	$	—	$	3,945	$	107	$	—
Not designated hedges of interest rate risk:
Customer related interest rate contracts:
Matched interest rate swaps with borrowers	Other Assets and Other Liabilities		13,503,351		134,435		611,310		12,649,905		36,232		878,046
Matched interest rate swaps with counterparty (1)	Other Assets		13,314,544		76,534		—		12,559,707		124,032		—
Economic hedges of interest rate risk:
Pay floating rate swap with counterparty	Other Assets		3,678,000		(27)		—		3,083,000		36		—
Not designated hedges of interest rate risk – mortgage banking activities:
Contracts used to hedge mortgage servicing rights	Other Assets and Other Liabilities		156,000		2,304		—		129,000		—		1,809
Contracts used to hedge mortgage pipeline	Other Assets and Other Liabilities		105,500		1,595		974		88,000		1,083		—
Total derivatives		$	30,760,230	$	214,898	$	612,284	$	28,513,557	$	161,490	$	879,855

(1) The fair value of the interest rate swap derivative assets was reduced by $401.5 million and $719.4 million at June 30, 2025 and December 31, 2024, respectively, in variation margin payments applicable to swaps centrally cleared through LCH and CME.

The following table summarizes the derivative assets and derivative liabilities related to the counterparties on our interest rate swaps subject to master netting agreements where the Company has elected to net the fair values. The Company has elected to not offset cash collateral against the netted derivative assets and liabilities subject to master netting agreements.

			June 30, 2025						December 31, 2024
	Notional		Estimated Fair Value				Notional		Estimated Fair Value
(Dollars in thousands)	Amount		Gain		Loss		Amount		Gain		Loss
Interest rate contracts subject to master netting agreements included in table above
Total gross derivative instruments, before netting	$	1,883,134	$	87,546	$	4,272	$	1,858,693	$	133,304	$	708
Less: Netting adjustment		204,600		(4,272)		(4,272)		49,000		(708)		(708)
Total gross derivative instruments, after netting		1,883,134	$	83,274	$	—		1,858,693	$	132,596	$	—

* As of June 30, 2025 and December 31, 2024, counterparties provided $33.9 million and $53.9 million, respectively, of cash collateral to the Company to secure swap asset positions that were not centrally cleared, which is included in Interest-bearing Deposits within Total Liabilities on the Consolidated Balance Sheets. Counterparties also pledged $29.1 million and $30.4 million, respectively, as of June 30, 2025 and December 31, 2024 in investment securities to secure swap asset positions that were not centrally cleared. The Company provided $1.7 million and $1.9 million, respectively, to counterparties to secure swap positions that were not centrally cleared as of June 30, 2025 and December 31, 2024.

Schedule of notional value of forward sale commitments and the fair value of those obligations along with the fair value of the mortgage pipeline

(Dollars in thousands)	June 30, 2025		December 31, 2024
Mortgage loan pipeline	$	76,157	$	59,291
Expected closures		65,146		53,177
Fair value of mortgage loan pipeline commitments		1,595		751
Forward sales commitments		105,500		88,000
Fair value of forward commitments		(974)		333