Note 18 - Derivative Instruments (Tables)
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3 Months Ended |
Mar. 31, 2025 |
Notes Tables |
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Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] |
| | Derivative Assets (1) | | | Derivative Liabilities (2) | |
| | Notional | | | Fair | | | Notional | | | Fair | |
(dollars in thousands) | | Amount | | | Value | | | Amount | | | Value | |
March 31, 2025 | | | | | | | | | | | | | | | | |
Designated as hedging instruments: | | | | | | | | | | | | | | | | |
Fair value hedges: | | | | | | | | | | | | | | | | |
Interest rate swaps | | $ | — | | | $ | — | | | $ | 200,000 | | | $ | 84 | |
Cash flow hedges: | | | | | | | | | | | | | | | | |
Interest rate swaps | | | 200,000 | | | | 15 | | | | — | | | | — | |
Total derivatives designated as hedging instruments | | $ | 200,000 | | | $ | 15 | | | $ | 200,000 | | | $ | 84 | |
Not designated as hedging instruments: | | | | | | | | | | | | | | | | |
Interest rate swaps (3) | | $ | 378,533 | | | $ | 9,376 | | | $ | 395,533 | | | $ | 9,586 | |
Interest rate lock commitments | | | 33,827 | | | | 492 | | | | — | | | | — | |
Forward loan sales commitments | | | 5,490 | | | | 102 | | | | — | | | | — | |
To-be-announced mortgage backed securities | | | — | | | | — | | | | 43,000 | | | | 95 | |
Total asset derivatives not designated as hedging instruments | | $ | 417,850 | | | $ | 9,970 | | | $ | 438,533 | | | $ | 9,681 | |
December 31, 2024 | | | | | | | | | | | | | | | | |
Designated as hedging instruments: | | | | | | | | | | | | | | | | |
Fair value hedges: | | | | | | | | | | | | | | | | |
Interest rate swaps | | $ | 200,000 | | | $ | 149 | | | $ | — | | | $ | — | |
Cash flow hedges: | | | | | | | | | | | | | | | | |
Interest rate swaps | | | 200,000 | | | | 477 | | | | 200,000 | | | | 21 | |
Total derivatives designated as hedging instruments | | $ | 400,000 | | | $ | 626 | | | $ | 200,000 | | | $ | 21 | |
Not designated as hedging instruments: | | | | | | | | | | | | | | | | |
Interest rate swaps (3) | | $ | 347,575 | | | $ | 8,182 | | | $ | 364,575 | | | $ | 8,579 | |
Interest rate lock commitments | | | 14,647 | | | | 153 | | | | — | | | | — | |
Forward loan sales commitments | | | 6,645 | | | | 109 | | | | — | | | | — | |
To-be-announced mortgage backed securities | | | 39,000 | | | | 35 | | | | — | | | | — | |
Total asset derivatives not designated as hedging instruments | | $ | 407,867 | | | $ | 8,479 | | | $ | 364,575 | | | $ | 8,579 | |
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Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] |
| | | | | | Gains (Losses) | |
| | Gains (Losses) | | | Reclassified | |
| | Recognized in | | | from OCI | |
(dollars in thousands) | | OCI | | | into Earnings | |
Derivatives designated as hedging instruments | | | | | | | | |
For the three months ended March 31, 2025 | | | | | | | | |
Cash flow hedges: | | | | | | | | |
Interest rate swaps | | $ | (463 | ) | | $ | (22 | ) |
| | | | | | | | |
For the three months ended March 31, 2024 | | | | | | | | |
Cash flow hedges: | | | | | | | | |
Interest rate swaps | | $ | 946 | | | $ | (262 | ) |
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Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] |
| | Location and Amount of Gains (Losses) Recognized in Income | |
| | Interest Income | | | Interest Expense | |
| | Loans, | | | Investment | | | | | |
| | including | | | securities - | | | Short-term | |
(dollars in thousands) | | fees | | | Taxable | | | borrowings | |
For the three months ended March 31, 2025 | | | | | | | | | | | | |
Total amounts in the Consolidated Statements of Income | | $ | 61,495 | | | $ | 5,707 | | | $ | 2,839 | |
Fair value hedges: | | | | | | | | | | | | |
Interest rate swaps | | | — | | | | 147 | | | | — | |
Cash flow hedges: | | | | | | | | | | | | |
Interest rate swaps | | | — | | | | — | | | | 22 | |
For the three months ended March 31, 2024 | | | | | | | | | | | | |
Total amounts in the Consolidated Statements of Income | | $ | 39,294 | | | $ | 4,568 | | | $ | 5,989 | |
Fair value hedges: | | | | | | | | | | | | |
Interest rate swaps | | | 153 | | | | 642 | | | | — | |
Cash flow hedges: | | | | | | | | | | | | |
Interest rate swaps | | | — | | | | — | | | | (262 | ) |
| | March 31, 2025 | |
| | | | | | | | | | Cumulative Fair | |
| | | | | | | | | | Value Hedging | |
| | | | | | | | | | Adjustment in the | |
| | | | | | Carrying Amount | | | Carrying Amount of | |
| | Notional | | | of Hedged Assets/ | | | Hedged Assets/ | |
(dollars in thousands) | | Amount | | | Liabilities | | | Liabilities | |
Mortgage-backed securities | | | | | | | | | | | | |
Residential agency (1) | | $ | 200,000 | | | $ | 200,085 | | | $ | 85 | |
Total | | $ | 200,000 | | | $ | 200,085 | | | $ | 85 | |
| | December 31, 2024 | |
| | | | | | | | | | Cumulative Fair | |
| | | | | | | | | | Value Hedging | |
| | | | | | | | | | Adjustment in the | |
| | | | | | Carrying Amount | | | Carrying Amount of | |
| | Notional | | | of Hedged Assets/ | | | Hedged Assets/ | |
(dollars in thousands) | | Amount | | | Liabilities | | | Liabilities | |
Mortgage-backed securities | | | | | | | | | | | | |
Residential agency (1) | | $ | 200,000 | | | $ | 199,854 | | | $ | (146 | ) |
Total | | $ | 200,000 | | | $ | 199,854 | | | $ | (146 | ) |
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Derivative Instruments, Gain (Loss) [Table Text Block] |
(dollars in thousands) | | | Three months ended March 31, | |
Derivatives not designated as hedging instruments | Consolidated Statements of Income Location | | 2025 | | | 2024 | |
Interest rate swaps | Other noninterest income | | $ | — | | | $ | 21 | |
Interest rate swaps | Mortgage banking | | | 187 | | | | — | |
Interest rate lock commitments | Mortgage banking | | | 322 | | | | 153 | |
Forward loan sales commitments | Mortgage banking | | | (7 | ) | | | (6 | ) |
To-be-announced mortgage backed securities | Mortgage banking | | | (286 | ) | | | 41 | |
Total gain (loss) from derivatives not designated as hedging instruments | | $ | 216 | | | $ | 209 | |
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Schedule Of Offsetting Derivative Assets And Liabilities [Table Text Block] |
| | | | | | | | | | | | | | Gross Amount | | | | | |
| | | | | | | | | | | | | | Not Offset in the | | | | | |
| | | | | | | | | | | | | | Consolidated | | | | | |
| | | | | | | | | | | | | | Balance Sheets | | | | | |
| | Gross Amount | | | Gross Amount | | | Net Amount | | | | | | | | | |
| | Recognized in the | | | Offset in the | | | Presented in the | | | | | | | | | |
| | Consolidated | | | Consolidated | | | Consolidated | | | Cash Collateral | | | | | |
(dollars in thousands) | | Balance Sheets | | | Balance Sheets | | | Balance Sheets | | | Pledged (Received) | | | Net Amount | |
March 31, 2025 | | | | | | | | | | | | | | | | | | | | |
Derivative assets: | | | | | | | | | | | | | | | | | | | | |
Interest rate swaps − Company (1) | | $ | 15 | | | $ | — | | | $ | 15 | | | $ | (25 | ) | | $ | (10 | ) |
Interest rate swaps − dealer bank (1) | | | 3,882 | | | | — | | | | 3,882 | | | | (1,885 | ) | | | 1,997 | |
Interest rate swaps − customer (2) | | | 5,494 | | | | — | | | | 5,494 | | | | — | | | | 5,494 | |
To-be-announced mortgage backed securities | | | — | | | | — | | | | — | | | | — | | | | — | |
Total | | $ | 9,391 | | | $ | — | | | $ | 9,391 | | | $ | (1,910 | ) | | $ | 7,481 | |
Derivative liabilities: | | | | | | | | | | | | | | | | | | | | |
Interest rate swaps − Company (1) | | $ | 84 | | | $ | — | | | $ | 84 | | | $ | — | | | $ | 84 | |
Interest rate swaps − dealer bank (1) | | | 5,592 | | | | — | | | | 5,592 | | | | — | | | | 5,592 | |
Interest rate swaps − customer (2) | | | 3,994 | | | | — | | | | 3,994 | | | | — | | | | 3,994 | |
To-be-announced mortgage backed securities | | | 95 | | | | — | | | | 95 | | | | — | | | | 95 | |
Total | | $ | 9,765 | | | $ | — | | | $ | 9,765 | | | $ | — | | | $ | 9,765 | |
| | | | | | | | | | | | | | Gross Amount | | | | | |
| | | | | | | | | | | | | | Not Offset in the | | | | | |
| | | | | | | | | | | | | | Consolidated | | | | | |
| | | | | | | | | | | | | | Balance Sheets | | | | | |
| | Gross Amount | | | Gross Amount | | | Net Amount | | | | | | | | | |
| | Recognized in the | | | Offset in the | | | Presented in the | | | | | | | | | |
| | Consolidated | | | Consolidated | | | Consolidated | | | Cash Collateral | | | | | |
(dollars in thousands) | | Balance Sheets | | | Balance Sheets | | | Balance Sheets | | | Pledged (Received) | | | Net Amount | |
December 31, 2024 | | | | | | | | | | | | | | | | | | | | |
Derivative assets: | | | | | | | | | | | | | | | | | | | | |
Interest rate swaps − Company (1) | | $ | 626 | | | $ | — | | | $ | 626 | | | $ | (683 | ) | | $ | (57 | ) |
Interest rate swaps − dealer bank (1) | | | 5,606 | | | | — | | | | 5,606 | | | | (177 | ) | | | 5,429 | |
Interest rate swaps − customer (2) | | | 2,576 | | | | | | | | 2,576 | | | | | | | | 2,576 | |
To-be-announced mortgage backed securities | | | 35 | | | | — | | | | 35 | | | | — | | | | 35 | |
Total | | $ | 8,843 | | | $ | — | | | $ | 8,843 | | | $ | (860 | ) | | $ | 7,983 | |
Derivative liabilities: | | | | | | | | | | | | | | | | | | | | |
Interest rate swaps − Company (1) | | $ | 21 | | | $ | — | | | $ | 21 | | | $ | 59 | | | $ | (38 | ) |
Interest rate swaps − dealer bank (1) | | | 2,863 | | | | | | | | 2,863 | | | | 3,841 | | | | (978 | ) |
Interest rate swaps − customer (2) | | | 5,716 | | | $ | — | | | | 5,716 | | | | — | | | | 5,716 | |
To-be-announced mortgage backed securities | | | — | | | | — | | | | — | | | | — | | | | — | |
Total | | $ | 8,600 | | | $ | — | | | $ | 8,600 | | | $ | 3,900 | | | $ | 4,700 | |
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