v3.26.1
DERIVATIVES AND HEDGING (Tables)
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Derivative Financial Instruments
The following table presents the fair value of the Company's derivative financial instruments as well as their classification on the consolidated statements of condition as of the dates indicated:
Derivative AssetsDerivative Liabilities
(In thousands)
Notional
Amount		 LocationFair
Value		Notional
Amount		LocationFair
Value
March 31, 2026    
Derivatives designated as hedging instruments:
Interest rate contracts(1)
$60,000 Other Assets$8,336 $603,000 Accrued interest and other liabilities$1,004 
Total derivatives designated as hedging instruments$60,000 $8,336 $603,000 $1,004 
Derivatives not designated as hedging instruments:
Customer loan swaps(1)
$452,466 Other assets$8,864 $452,466 Accrued interest and other liabilities$8,898 
Risk participation agreements55,667 Other assets— 64,462 Accrued interest and other liabilities— 
Fixed rate mortgage interest rate lock commitments9,010 Other assets75 15,141 Accrued interest and other liabilities106 
Forward delivery commitments15,112 Other assets290 2,582 Accrued interest and other liabilities29 
Total derivatives not designated as hedging instruments$532,255 $9,229 $534,651 $9,033 
December 31, 2025
Derivatives designated as hedging instruments:
Interest rate contracts(1)
$60,000 Other assets$8,381 $828,000 Accrued interest and other liabilities$2,923 
Total derivatives designated as hedging instruments$60,000 $8,381 $828,000 $2,923 
Derivatives not designated as hedging instruments:
Customer loan swaps(1)
$442,062 Other assets$9,087 $442,062 Accrued interest and other liabilities$9,127 
Risk participation agreements48,434 Other assets— 64,873 Accrued interest and other liabilities— 
Fixed rate mortgage interest rate lock commitments11,366 Other assets100 6,701 Accrued interest and other liabilities20 
Forward delivery commitments9,569 Other assets134 5,396 Accrued interest and other liabilities44 
Total derivatives not designated as hedging instruments$511,431 $9,321 $519,032 $9,191 
(1)    Reported fair values include accrued interest receivable and payable.

The following table shows the carrying amount and associated cumulative basis adjustments related to the application of hedge accounting that is included in the carrying amount of hedged assets and liabilities in fair value hedging relationships:
Location in Consolidated Statements of ConditionCarrying Amount of Hedged Assets/(Liabilities)Cumulative Fair Value Hedging Adjustment in the Carrying Amount of the Hedged Assets/(Liabilities)
(In thousands)
March 31,
2026		December 31,
2025		March 31,
2026		December 31,
2025
Loans(1)
$325,119 $476,303 $119 $1,303 
Total $325,119 $476,303 $119 $1,303 
(1) These amounts include the amortized cost basis of residential real estate loans that were 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 March 31, 2026 and December 31, 2025, the amortized cost basis of the residential real estate loans used in these hedging relationships was $692.0 million and $701.9 million, respectively, and the amount of
the designated hedged residential loans was $325.0 million and $475.0 million, respectively.
Schedule of Cash Flow Hedging Instruments, Location
The table below presents the effect of cash flow hedge accounting, before tax, on AOCI for the periods indicated:
(In thousands)
Amount of Gain (Loss) Recognized in OCI on DerivativeAmount of Gain (Loss) Recognized in OCI Included ComponentAmount of Gain (Loss) Recognized in OCI Excluded ComponentLocation of Gain (Loss) Recognized
from AOCI into Income
Amount of Gain Reclassified from AOCI into Income
Amount of Gain Reclassified from AOCI into Income Included Component
Amount of Gain (Loss) Reclassified from AOCI into Income Excluded Component
For the Three Months Ended March 31, 2026
Interest rate contracts$610 $610 $— Interest on borrowings$244 $244 $— 
Interest rate contracts347 347 — Interest on junior subordinated debentures38 38 — 
Total$957 $957 $— $282 $282 $— 
For the Three Months Ended March 31, 2025
Interest rate contracts$(851)$(851)$— Interest on borrowings$620 $620 $— 
Interest rate contracts(679)(679)— Interest on junior subordinated debentures116 116 — 
Total$(1,530)$(1,530)$— $736 $736 $— 

The table below presents the effect of fair value and cash flow hedge accounting on the consolidated statements of income for the periods indicated:
Location and Amount of Gain (Loss) Recognized in Income
Three Months Ended
March 31,
20262025
(In thousands)
Interest and fees on loansInterest on borrowingsInterest on junior subordinated debenturesInterest and fees on loansInterest on borrowingsInterest on junior subordinated debentures
Total presented on the consolidated statements of income in which the effects of cash flow and fair value hedges are recorded
$66,679 $3,476 $889 $66,549 $4,018 $898 
Gain (loss) on fair value hedging relationships
Interest rate contracts:
Hedged items$(1,184)$— $— $(3,939)$— $— 
Derivatives designated as hedging instruments$1,181 $— $— $4,856 $— $— 
Gain (loss) on cash flow hedging relationships
Interest rate contracts:
Amount of gain (loss) reclassified from AOCI into income
$— $244 $38 $— $620 $116 
Amount of gain (loss) reclassified from AOCI into income - included component
$— $244 $38 $— $620 $116 
Amount of gain (loss) reclassified from AOCI into income - excluded component$— $— $— $— $— $— 
Schedule of Derivatives Not Designated as Hedging Instruments
The table below presents the effect of the Company’s derivative financial instruments that are not designated as hedging instruments on the consolidated statements of income for the periods indicated:
Location of Gain (Loss) Recognized in IncomeAmount of Gain (Loss)
Recognized in Income
Three Months Ended
March 31,
(In thousands)
20262025
Customer loan swapsOther expense$(6)$(37)
Fixed rate mortgage interest rate lock commitmentsMortgage banking income, net(111)22 
Forward delivery commitmentsMortgage banking income, net171 (81)
Total $54 $(96)