v3.26.1
Derivative Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments Select terms of the hedges are as follows:
($ in thousands)
Notional Fixed RateEffective DateMaturity Date
$50,000 6.56 %January 25, 2023February 1, 2027
$100,000 6.63 %December 20, 2022January 1, 2028
$100,000 6.66 %April 1, 2025April 1, 2030
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table presents the fair value of the Company’s derivative financial instruments as well as their classification on the Balance Sheet as of the dates indicated:
Notional Amount Derivative AssetsDerivative Liabilities
($ in thousands)March 31,
2026		December 31, 2025March 31,
2026		December 31, 2025March 31,
2026		December 31, 2025
Derivatives designated as hedging instruments
Interest rate swaps$250,000 $282,064 $427 $1,876 $53 $— 
Interest rate collars150,000 150,000 237 498 — — 
Total$400,000 $432,064 $664 $2,374 $53 $— 
Derivatives not designated as hedging instruments
Interest rate swaps$866,506 $878,278 $9,165 $10,110 $9,169 $10,114 
The following tables present a gross presentation, the effects of offsetting, and a net presentation of the Company’s financial instruments subject to offsetting. The gross amounts of assets or liabilities can be reconciled to the tabular disclosure of fair value. The fair value table above provides the location of financial assets and liabilities presented on the Consolidated Balance Sheets.

As of March 31, 2026
Gross Amounts Not Offset in the Statement of Financial Position
($ in thousands)Gross Amounts RecognizedGross Amounts Offset in the Statement of Financial PositionNet Amounts of Assets presented in the Statement of Financial PositionFinancial InstrumentsFair Value Collateral PostedNet Amount
Assets:
Interest rate swaps$9,592 $— $9,592 $1,926 $6,356 $1,309 
Interest rate collars237 — 237 — — 237 
Liabilities:
Interest rate swaps$9,222 $— $9,222 $1,926 $— $7,296 
Securities sold under agreements to repurchase226,669 — 226,669 — 226,669 — 

As of December 31, 2025
Gross Amounts Not Offset in the Statement of Financial Position
($ in thousands)Gross Amounts RecognizedGross Amounts Offset in the Statement of Financial PositionNet Amounts of Assets presented in the Statement of Financial PositionFinancial InstrumentsFair Value Collateral PostedNet Amount
Assets:
Interest rate swaps$11,986 $— $11,986 $3,142 $6,470 $2,374 
Interest rate collar498 — 498 — — 498 
Liabilities:
Interest rate swaps$10,114 $— $10,114 $3,142 $— $6,972 
Securities sold under agreements to repurchase292,782 — 292,782 — 292,782 —