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DERIVATIVES AND HEDGING ACTIVITIES (Tables)
 12 Months Ended
Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Details of derivative positions for interest rate swaps which qualify as hedges for accounting purposes
The following tables reflect information about the Company’s derivative positions at the dates indicated below for interest rate swaps which qualify as cash flow hedges for accounting purposes:
December 31, 2023
Weighted Average Rate
Notional AmountWeighted Average MaturityCurrent
Rate
Received		Pay Fixed
Swap Rate		Fair Value
(in thousands)(in years)(in thousands)
Interest rate swaps on borrowings$400,000 2.585.34 %3.67 %$1,901 
Current Rate PaidReceive Fixed
Swap Rate
Interest rate swaps on loans $850,000 2.505.36 %2.72 %$(27,350)
Current Rate PaidReceive Fixed Swap Rate
Cap - Floor
Interest rate collars on loans 350,000 1.485.45 %
3.09% - 2.12%
(4,714)
Total$1,600,000 $(30,163)
December 31, 2022
Weighted Average Rate
Notional AmountAverage MaturityCurrent
Rate
Received		Pay Fixed
Swap Rate		Fair Value
(in thousands)(in years)(in thousands)
Interest rate swaps on loans 1,050,000 2.974.24 %2.66 %(42,005)
Current Rate PaidReceive Fixed Swap Rate
Cap - Floor
Interest rate collars on loans 400,000 2.274.22 %
3.09% - 2.19%
(10,239)
Total$1,450,000 $(52,244)
Summary of customer related derivative positions, not designated as hedging
The following tables reflect the Company’s customer related derivative positions at the dates indicated below for those derivatives not designated as hedging:
 Number of
Positions (1)		Notional Amount Maturing 
  Less than 1 yearLess than 2 yearsLess than 3 yearsLess than 4 yearsThereafterTotalFair Value
December 31, 2023
 (Dollars in thousands)
Loan level swaps
Receive fixed, pay variable281 $80,682 $252,260 $223,928 $230,513 $997,108 $1,784,491 $(88,415)
Pay fixed, receive variable281 80,682 252,260 223,928 230,513 997,108 1,784,491 88,280 
Foreign exchange contracts
Buys foreign currency, sells U.S. currency22 65,586 12,957 — — — 78,543 2,197 
Buys U.S. currency, sells foreign currency22 65,586 12,957 — — — 78,543 (2,160)
Risk participation agreements
Participation out17 — 24,193 — 13,119 114,027 151,339 200 
Participation in8 — — 13,016 18,989 15,725 47,730 (44)
Number of
Positions (1)		Notional Amount Maturing
Less than 1 yearLess than 2 yearsLess than 3 yearsLess than 4 yearsThereafterTotalFair Value
December 31, 2022
(Dollars in thousands)
Loan level swaps
Receive fixed, pay variable283 $80,531 $96,613 $256,924 $193,096 $1,016,312 $1,643,476 $(118,930)
Pay fixed, receive variable283 80,531 96,613 256,924 193,096 1,016,312 1,643,476 118,928 
Foreign exchange contracts
Buys foreign currency, sells U.S. currency49 124,982 13,363 — — — 138,345 306 
Buys U.S. currency, sells foreign currency49 124,982 13,363 — — — 138,345 (232)
Risk participation agreements
Participation out13 2,595 — 24,538 — 95,514 122,647 161 
Participation in6 27,365 — — — 25,849 53,214 (15)
(1)     The Company may enter into one dealer swap agreement which offsets multiple commercial borrower swap agreements.
Fair value of derivative financial instruments as well as their classification on the balance sheet
 Asset Derivatives (1)Liability Derivatives (2)
Fair Value atFair Value atFair Value atFair Value at
 December 31, 2023December 31, 2022December 31, 2023December 31, 2022
 (Dollars in thousands)
Derivatives designated as hedges
Interest rate derivatives$1,927 (3)$— (3)$32,090 (4)$52,244 (4)
Derivatives not designated as hedges
Customer Related Positions:
Loan level derivatives99,416 (3)123,372 (3)99,551 (4)123,374 (4)
Foreign exchange contracts2,220 4,352 2,183 4,278 
Risk participation agreements200 161 44 15 
Mortgage Derivatives
Interest rate lock commitments168 43 — — 
Forward sale loan commitments17 30 — — 
Total derivatives not designated as hedges102,021 127,958 101,778 127,667 
Total103,948 127,958 133,868 179,911 
Netting Adjustments (5)(48,253)(57,784)25,360 33,245 
Net Derivatives on the Balance Sheet55,695 70,174 108,508 146,666 
Financial instruments (6)12,018 20,019 12,018 20,019 
Cash collateral pledged (received)(17,076)(17,720)— — 
Net Derivative Amounts$26,601 $32,435 $96,490 $126,647 

(1)All asset derivatives are located in other assets on the balance sheet.
(2)All liability derivatives are located in other liabilities on the balance sheet.
(3)As of December 31, 2023, approximately $316,000 and $3.0 million of accrued interest receivable is included in the fair value of interest rate and loan level derivative assets, respectively. Accrued interest receivable of approximately $2.2 million is included in the fair value of loan level derivative assets at December 31, 2022.
(4)Approximately $1.9 million and $3.0 million of accrued interest payable is included in the fair value of interest rate and loan level derivative liabilities, respectively, at December 31, 2023, in comparison to accrued interest payable of approximately $1.3 million and $2.2 million, respectively, at December 31, 2022.
(5)Netting adjustments represent the amounts recorded to convert derivative assets and liabilities cleared through CME from a gross basis to a net basis, inclusive of the variation margin payments, in accordance with applicable accounting guidance.
(6)Reflects offsetting derivative positions with the same counterparty that are not netted on the balance sheet.
Effect of derivative financial instruments included in OCI and current earnings
The table below presents the effect of the Company’s derivative financial instruments included in OCI and current earnings for the periods indicated:    
 Years Ended December 31
 202320222021
 (Dollars in thousands)
Derivatives designated as hedges
Gain (loss) in OCI on derivatives (effective portion), net of tax$16,055 $(50,767)$(19,139)
(Loss) gain reclassified from OCI into interest income or interest expense (effective portion)$(27,414)$5,054 $18,691 
Derivatives not designated as hedges
Changes in fair value of customer related positions
Other income$517 $260 $217 
Other expenses(679)(268)(405)
Changes in fair value of mortgage derivatives
Mortgage banking income112 (679)(4,725)
Total$(50)$(687)$(4,913)