v3.25.2
Derivative Instruments (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Financial Instruments
The following table provides a summary of the Company’s derivatives not designated as hedging instruments as of the dates presented:
 Balance SheetJune 30, 2025December 31, 2024
 LocationNotional AmountFair ValueNotional AmountFair Value
Derivative assets:
  Interest rate contractsOther Assets$1,429,422 $29,332 $877,051 $14,071 
  Interest rate lock commitmentsOther Assets165,367 2,727 64,365 861 
Forward commitmentsOther Assets— — 174,000 1,242 
Totals$1,594,789 $32,059 $1,115,416 $16,174 
Derivative liabilities:
  Interest rate contractsOther Liabilities$1,429,734 $29,353 $880,371 $14,094 
Interest rate lock commitmentsOther Liabilities1,642 14 1,829 122 
  Forward commitmentsOther Liabilities354,000 3,397 52,000 86 
Totals$1,785,376 $32,764 $934,200 $14,302 
The following table provides a summary of the Company’s derivatives designated as cash flow hedges as of the dates presented:
 Balance SheetJune 30, 2025December 31, 2024
 LocationNotional AmountFair ValueNotional AmountFair Value
Derivative assets:
  Interest rate swapsOther Assets$130,000 $18,022 $130,000 $22,780 
  Interest rate collarsOther Assets450,000 548 — — 
Total$580,000 $18,570 $130,000 $22,780 
Derivative liabilities:
  Interest rate collarsOther Liabilities$— $— $450,000 $598 
Totals$— $— $450,000 $598 
The following table provides a summary of the Company's derivatives designated as fair value hedges as of the dates presented:
 Balance SheetJune 30, 2025December 31, 2024
 LocationNotional AmountFair ValueNotional AmountFair Value
Derivative liabilities:
  Interest rate swapsOther Liabilities$100,000 $13,440 $100,000 $17,369 
Schedule of Gains (Losses) on Derivative Financial Instruments Included in the Consolidated Statements of Income
Gains and losses included in the Consolidated Statements of Income related to the Company’s derivative financial instruments were as follows as of the dates presented:
Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
Interest rate contracts:
Included in interest income on loans$6,092 $3,239 $8,981 $6,430 
Interest rate lock commitments:
Included in mortgage banking income525 (420)1,973 388 
Forward commitments
Included in mortgage banking income(2,033)284 (4,552)2,351 
Total$4,584 $3,103 $6,402 $9,169 
The following table presents the effects of the Company’s fair value hedge relationships on the Consolidated Statements of Income for the periods presented:
 Amount of Gain (Loss) Recognized in Income
Income StatementThree Months Ended June 30,Six Months Ended June 30,
 Location2025202420252024
Derivative liabilities:
  Interest rate swaps - subordinated notesInterest Expense$1,691 $173 $3,929 $(1,338)
Derivative liabilities - hedged items:
  Interest rate swaps - subordinated notesInterest Expense$(1,691)$(173)$(3,928)$1,338 
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location
The following table presents the amounts that were recorded in the Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges as of the dates presented:
Carrying Amount of the Hedged LiabilityCumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Liability
Balance Sheet LocationJune 30, 2025December 31, 2024June 30, 2025December 31, 2024
Long-term debt$85,663 $81,648 $13,440 $17,369 
Schedule of Offsetting Assets The following table presents the Company’s gross derivative positions as recognized in the Consolidated Balance Sheets as well as the net derivative positions, including collateral pledged to the extent the application of such collateral did not reduce the net derivative liability position below zero, had the Company elected to offset those instruments subject to an enforceable master netting agreement as of the dates presented:
Offsetting Derivative AssetsOffsetting Derivative Liabilities
June 30,
2025		December 31, 2024June 30,
2025		December 31, 2024
Gross amounts recognized$23,925 $34,505 $22,191 $28,550 
Gross amounts offset in the Consolidated Balance Sheets— — — — 
Net amounts presented in the Consolidated Balance Sheets23,925 34,505 22,191 28,550 
Gross amounts not offset in the Consolidated Balance Sheets
Financial instruments18,794 27,939 18,794 27,939 
Financial collateral pledged— — 1,321 611 
Net amounts$5,131 $6,566 $2,076 $— 
Schedule of Offsetting Liabilities The following table presents the Company’s gross derivative positions as recognized in the Consolidated Balance Sheets as well as the net derivative positions, including collateral pledged to the extent the application of such collateral did not reduce the net derivative liability position below zero, had the Company elected to offset those instruments subject to an enforceable master netting agreement as of the dates presented:
Offsetting Derivative AssetsOffsetting Derivative Liabilities
June 30,
2025		December 31, 2024June 30,
2025		December 31, 2024
Gross amounts recognized$23,925 $34,505 $22,191 $28,550 
Gross amounts offset in the Consolidated Balance Sheets— — — — 
Net amounts presented in the Consolidated Balance Sheets23,925 34,505 22,191 28,550 
Gross amounts not offset in the Consolidated Balance Sheets
Financial instruments18,794 27,939 18,794 27,939 
Financial collateral pledged— — 1,321 611 
Net amounts$5,131 $6,566 $2,076 $—