Derivatives and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of pre-tax gains or losses

The effect of cash flow hedge accounting on OCI for the periods ending December 31, 2023, 2022, and 2021 was as follows:

	Years ended
(Dollars in thousands)	December 31, 2023		December 31, 2022	December 31, 2021
Amount of gain recognized in OCI	$	2,006	7,809	901
Amount of gain reclassified from OCI to interest expense	4,605		817	—

Summary of derivative instruments

The following tables present the notional and estimated fair value amount of derivative positions outstanding at December 31, 2023:

							Weighted Average
(Dollars in thousands)	Notional Amount		Asset Derivative		Liability Derivative		Remaining Maturity	Receive Rate	Pay Rate
Interest rate swap - securities	$	1,500,000	$	—	$	17,988	2.1 years	SOFR	4.63	%

The following amounts were recorded on the balance sheet related to cumulative basis adjustments for fair value hedges at December 31, 2023:

(Dollars in thousands)	Amortized cost of the Hedged Assets/Liabilities		Amortized Cost of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/Liabilities
Line item on the balance sheet	December 31, 2023		December 31, 2023
Investment securities available-for-sale	$	3,807,239	$	(17,988)

The effects of the fair value hedge relationships on the income statement during the the year ended December 31, 2023 were as follows:

		Years ended
(Dollars in thousands)	Location of Gain (Loss)	2023
Interest rate swap	Interest income on investment securities	$	1,607
AFS debt securities	Interest income on investment securities	(1,607)