v3.25.2
Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Interest Rate Swaps Designated as Cash Flow Hedges
The following table summarizes information about the interest rate swaps designated as cash flow hedges:
(Dollars in thousands)June 30,
2025		December 31,
2024
Notional amount$55,000 $75,000 
Weighted average pay rates2.60 %2.45 %
Weighted average receive rates4.02 %4.49 %
Weighted average maturity1.5 years1.5 years
Pre-tax changes in fair value included in AOCI$940 $1,885 
Summary of Gains or Losses Recorded in AOCI
The following table presents changes in fair value and amounts reclassified from AOCI related to cash flow hedges and recorded in AOCI and in the Consolidated Statements of Comprehensive Income:
Three Months EndedSix Months Ended
June 30,June 30,
(Dollars in thousands)2025202420252024
Amount of losses recorded in AOCI, pre-tax$341 $443 $1,002 $187 
Summary of Cash Flow Hedges
The following table reflects the cash flow hedges, which are included in the Unaudited Consolidated Balance Sheets at fair value:
June 30,
2025		December 31,
2024
(Dollars in thousands)Notional AmountFair ValueNotional AmountFair Value
Included in "Other assets":
Interest rate swaps related to debt$55,000 $868 $75,000 $1,784 
Summary of Derivatives Not Designated as Hedging
The following table reflects the non-designated hedges, which are included in the Unaudited Consolidated Balance Sheets at fair value:
June 30,
2025		December 31,
2024
(Dollars in thousands)Notional AmountFair ValueNotional AmountFair Value
Included in "Other assets":
Interest rate swaps related to commercial loans$542,787 $15,638 $453,367 $18,742 
Netting Adjustments (a)(5,054)(1,783)
Net Derivative Assets on the Balance Sheet$10,584 $16,959 
Included in "Accrued expenses and other liabilities":
Interest rate swaps related to commercial loans$542,787 $13,543 $453,367 $17,100 
Netting Adjustments (a)(2,885)(54)
Net Derivatives Liabilities on the Balance Sheet$10,658 $17,046 
(a) Netting adjustments represent the amounts recorded to convert our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The net basis takes into account the impact of master netting agreements that allow us to settle derivative contracts with a single counterparty on a net basis. Total derivative assets and liabilities include these netting adjustments.