v3.25.1
Derivative Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of carrying value of the PLM hedged asset and liability and the cumulative fair value hedging adjustment
        
   March 31, 2025   December 31, 2024 
(dollars in thousands)   Carrying
Amount		    Hedged Asset    Carrying
Amount		    Hedged Asset 
 Fixed Rate Asset/Liability1  $300,257    257    303,698    3,698 
1These amounts included the amortized cost basis of closed portfolios of fixed rate loans used to designate hedging relationships in which the hedged item is the stated amount of the assets in the closed portfolio anticipated to be outstanding for the designated hedged period. As of March 31, 2025, the amortized cost basis of the closed portfolio used in this hedging relationship was $653.9 million, the cumulative basis adjustment associated with this hedging relationship was $197,000, and the amount of the designated hedged item was $300.0 million.
Schedule of outstanding financial derivative instruments
           
   March 31, 2025 
          Fair Value 
(dollars in thousands)  Notional   Balance Sheet
Location		  Asset/(Liability) 
Derivatives designated as hedging instruments:             
Fair value swap   $300,000   Other assets  $257 
              
Derivatives not designated as hedging instruments:             
Mortgage loan interest rate lock commitments    26,530   Other assets   320 
MBS forward sales commitments    19,500   Other liabilities   (47)
Total derivative financial instruments   $346,030      $530 
              
    December 31, 2024 
            Fair Value 
(dollars in thousands)   Notional   Balance Sheet
Location		   Asset/(Liability) 
Derivatives designated as hedging instruments:             
Fair value swap  $300,000   Other assets  $3,698 
              
Derivatives not designated as hedging instruments:             
Mortgage loan interest rate lock commitments   15,841   Other assets   188 
MBS forward sales commitments   10,500   Other assets   40 
Total derivative financial instruments  $326,341      $3,926 
Schedule of summarize the effect of fair value hedging relationship recognized in the consolidated statements of income
    
   Three months ended
March 31,		 
(dollars in thousands)  2025   2024 
Gain (loss) on fair value hedging relationship:          
Hedged asset/liability  $257    3,688 
Fair value derivative designated as hedging instrument   (256)   (3,738)
Total gain (loss) recognized in interest income on loans  $1    (50)