Derivatives and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2024

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, 2024, 2023, and 2022 was as follows:

	Years ended
(Dollars in thousands)	December 31, 2024		December 31, 2023	December 31, 2022
Amount of gain recognized in OCI	$	777	2,006	7,809
Amount of gain reclassified from OCI to interest expense	4,879		4,605	817

Summary of derivative instruments

The following tables present the notional and estimated fair value amount of derivative positions outstanding:

December 31, 2024
							Weighted Average
(Dollars in thousands)	Notional Amount		Asset Derivative		Liability Derivative		Remaining Maturity	Receive Rate	Pay Rate
Interest rate swap - securities	$	1,630,500	$	9,287	$	—	1.2 years	SOFR	3.68	%

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 for the respective periods:

(Dollars in thousands)	Amortized cost of the Hedged Assets				Amortized Cost of Fair Value Hedging Included in the Carrying Amount of the Hedged Assets
Line item on the balance sheet	December 31, 2024		December 31, 2023		December 31, 2024		December 31, 2023
Investment securities available-for-sale	$	3,242,878	$	3,807,239	$	(9,287)	$	17,988

The effects of the fair value hedge relationships on the income statement during the years ended were as follows:

		Years ended
(Dollars in thousands)	Location of Gain (Loss)	2024		2023
Interest rate swap	Interest income on investment securities	$	20,743	(16,447)
AFS debt securities	Interest income on investment securities	(7,451)		17,988