v3.26.1
Derivative Instruments (Tables)
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Portfolio Layer Method Hedged Asset
The following table represents the carrying value of the portfolio layer method hedged asset and the cumulative fair value hedging adjustment included in the carrying value of the hedged asset as of March 31, 2026 and December 31, 2025:
March 31, 2026December 31, 2025March 31, 2026December 31, 2025
Carrying Value of Hedged AssetHedged Items
(In thousands)
Fixed Rate Asset (1)
$— $150,142 $— $(108)

(1) These amounts include 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 assets in the closed portfolio anticipated to be outstanding for the designated hedged period. As of December 31, 2025, the amortized cost basis of the closed portfolio used in this hedging relationship was $470.6 million, the cumulative basis adjustments associated with this hedging relationships was $0.2 million. As of December 31, 2025, the amount of the designated hedged item was $150.0 million.
Schedule of Derivative Instruments
Information about derivative instruments at March 31, 2026 and December 31, 2025 is as follows:


As of March 31, 2026
Derivative AssetsDerivative Liabilities
Original Notional AmountBalance Sheet LocationFair ValueOriginal Notional AmountBalance Sheet LocationFair Value
(In thousands)
Derivatives designated as hedging instruments:
Interest rate swaps$25,000 Other assets$1,982 $— Accrued expenses and other liabilities$— 
Fair value swap$— Other assets$— $— Accrued expenses and other liabilities$— 
Derivatives not designated as hedging instruments:
Interest rate swaps(1)
$38,500 Other assets$3,070 $38,500 Accrued expenses and other liabilities$3,070 

(1) Represents interest rate swaps with commercial banking clients, which are offset by derivatives with a third party.
As of December 31, 2025
Derivative AssetsDerivative Liabilities
Original Notional AmountBalance Sheet LocationFair ValueOriginal Notional AmountBalance Sheet LocationFair Value
(In thousands)
Derivatives designated as hedging instruments:
Interest rate swap$25,000 Other assets$1,925 $— Accrued expenses and other liabilities$— 
Fair value swap$— Other assets$— $150,000 Accrued expenses and other liabilities$156 
Derivatives not designated as hedging instruments:
Interest rate swaps(1)
$38,500 Other assets$3,045 $38,500 Accrued expenses and other liabilities$3,045 

(1) Represents interest rate swaps with commercial banking clients, which are offset by derivatives with a third party.
Schedule of Changes in the Consolidated Statements of Comprehensive Income (Loss) Related to Interest Rate Derivatives Designated as Hedges of Cash Flows
Changes in the consolidated statements of comprehensive income (loss) related to interest rate derivatives designated as hedges of cash flows were as follows for the three months ended March 31, 2026 and March 31, 2025:
Three Months Ended March 31,
(In thousands)20262025
Interest rate swaps designated as cash flow hedges:
Unrealized (loss) gain recognized in accumulated other comprehensive income before reclassifications$113 $(522)
Amounts reclassified from accumulated other comprehensive (loss) income(59)(612)
Income tax benefit (expense) on items recognized in accumulated other comprehensive income(13)268 
Other comprehensive (loss) income$41 $(866)
Schedule of Derivative Fair Value Hedge Recognized in Consolidated Statements of Income
The following table summarizes the effect of the fair value hedging relationship recognized in the consolidated statements of income for the three months ended March 31, 2026 and March 31, 2025:
Three Months Ended March 31,
(In thousands)20262025
Gain (loss) on fair value hedging relationship:
Hedged asset$(142)$142 
Fair value derivative designated as hedging instrument2 (98)
Total gain (loss) recognized in the consolidated statements of income within interest and fees on loans$(140)$44 
Schedule of Gross and Net Information about Derivative Instruments that are Offset in the Consolidated Balance Sheets
The following tables summarize gross and net information about derivative instruments that are offset in the Consolidated Balance Sheets at March 31, 2026 and December 31, 2025:
March 31, 2026
(In thousands)
Gross Amounts Not Offset in the Consolidated Balance Sheets
Gross Amounts of Recognized Assets(1)
Gross Amounts Offset in the Statement of Financial PositionNet Amounts of Assets presented in the Statement of Financial PositionFinancial InstrumentsCash Collateral ReceivedNet Amount
Derivative assets$5,109 $— $5,109 $— $5,109 $— 
(1) Includes accrued interest receivable totaling $57 thousand.

March 31, 2026
(In thousands)
Gross Amounts Not Offset in the Consolidated Balance Sheets
Gross Amounts of Recognized Liabilities(1)
Gross Amounts Offset in the Statement of Financial PositionNet Amounts of Liabilities presented in the Statement of Financial PositionFinancial InstrumentsCash Collateral PostedNet Amount
Derivative liabilities$3,106 $— $3,106 $— $— $3,106 
(1) Includes net accrued interest payable totaling $36 thousand.
December 31, 2025
(In thousands)
Gross Amounts Not Offset in the Consolidated Balance Sheets
Gross Amounts of Recognized Assets(1)
Gross Amounts Offset in the Statement of Financial PositionNet Amounts of Assets presented in the Statement of Financial PositionFinancial InstrumentsCash Collateral ReceivedNet Amount
Derivative assets$5,034 $— $5,034 $202 $4,832 $— 
(1) Includes accrued interest receivable totaling $64 thousand.
December 31, 2025
(In thousands)
Gross Amounts Not Offset in the Consolidated Balance Sheets
Gross Amounts of Recognized Liabilities(1)
Gross Amounts Offset in the Statement of Financial PositionNet Amounts of Liabilities presented in the Statement of Financial PositionFinancial InstrumentsCash Collateral PostedNet Amount
Derivative liabilities$3,285 $— $3,285 $202 $— $3,083 
(1) Includes net interest payable totaling $84 thousand.