| Summary of Fair Value of Derivative Assets and Liabilities |
This table provides a summary of the fair value of the Company’s derivative assets and liabilities as of June 30, 2026 and December 31, 2025 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Derivative Assets |
|
|
Derivative Liabilities |
|
|
|
June 30, |
|
|
December 31, |
|
|
June 30, |
|
|
December 31, |
|
Fair Value |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Interest Rate Derivatives: |
|
|
|
|
|
|
|
|
|
|
|
|
Derivatives not designated as hedging instruments |
|
$ |
115,788 |
|
|
$ |
126,423 |
|
|
$ |
119,583 |
|
|
$ |
130,122 |
|
Derivatives designated as hedging instruments |
|
|
91,619 |
|
|
|
148,550 |
|
|
|
— |
|
|
|
36 |
|
Total interest rate derivatives |
|
|
207,407 |
|
|
|
274,973 |
|
|
|
119,583 |
|
|
|
130,158 |
|
Commodity Derivatives: |
|
|
|
|
|
|
|
|
|
|
|
|
Derivatives not designated as hedging instruments |
|
|
29,013 |
|
|
|
6,356 |
|
|
|
28,754 |
|
|
|
6,294 |
|
Total commodity derivatives |
|
|
29,013 |
|
|
|
6,356 |
|
|
|
28,754 |
|
|
|
6,294 |
|
Total |
|
$ |
236,420 |
|
|
$ |
281,329 |
|
|
$ |
148,337 |
|
|
$ |
136,452 |
|
|
| Summary of Amount of Gain (Loss) Recognized in Other Noninterest Income in Consolidated Statements of Income Related to Derivative Assets and Liabilities |
This table provides a summary of the amount of gain or loss recognized in Other noninterest income in the Consolidated Statements of Income related to the Company’s derivative assets and liabilities for the three and six months ended June 30, 2026 and June 30, 2025 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Amount of Gain (Loss) Recognized |
|
|
|
For the Three Months Ended |
|
|
For the Six Months Ended |
|
|
|
June 30, |
|
|
June 30, |
|
|
June 30, |
|
|
June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Interest Rate Derivatives |
|
|
|
|
|
|
|
|
|
|
|
|
Derivatives not designated as hedging instruments |
|
$ |
65 |
|
|
$ |
(92 |
) |
|
$ |
36 |
|
|
$ |
(182 |
) |
Total |
|
$ |
65 |
|
|
$ |
(92 |
) |
|
$ |
36 |
|
|
$ |
(182 |
) |
Commodity Derivatives |
|
|
|
|
|
|
|
|
|
|
|
|
Derivatives not designated as hedging instruments |
|
$ |
171 |
|
|
$ |
— |
|
|
$ |
247 |
|
|
$ |
— |
|
Total |
|
$ |
171 |
|
|
$ |
— |
|
|
$ |
247 |
|
|
$ |
— |
|
|
| Summary of Effect of Hedges on AOCI in Consolidated Statements of Comprehensive Income Related to Company's Derivative Assets and Liabilities |
These tables provide a summary of the effect of hedges on AOCI in the Consolidated Statements of Comprehensive Income related to the Company’s derivative assets and liabilities for the three and six months ended June 30, 2026 and June 30, 2025 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended June 30, 2026 |
|
Derivatives in Cash Flow Hedging Relationships |
|
(Loss) Gain Recognized in OCI on Derivative |
|
|
(Loss) Gain Recognized in OCI Included Component |
|
|
Gain Recognized in OCI Excluded Component |
|
|
(Loss) Gain Reclassified from AOCI into Earnings |
|
|
(Loss) Gain Reclassified from AOCI into Earnings Included Component |
|
|
Loss Reclassified from AOCI into Earnings Excluded Component |
|
Interest rate floors and floor spreads |
|
$ |
(23,267 |
) |
|
$ |
(30,764 |
) |
|
$ |
7,497 |
|
|
$ |
(881 |
) |
|
$ |
(297 |
) |
|
$ |
(584 |
) |
Interest rate swaps |
|
|
574 |
|
|
|
574 |
|
|
|
— |
|
|
|
152 |
|
|
|
152 |
|
|
|
— |
|
Total |
|
$ |
(22,693 |
) |
|
$ |
(30,190 |
) |
|
$ |
7,497 |
|
|
$ |
(729 |
) |
|
$ |
(145 |
) |
|
$ |
(584 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended June 30, 2025 |
|
Derivatives in Cash Flow Hedging Relationships |
|
Gain (Loss) Recognized in OCI on Derivative |
|
|
Gain (Loss) Recognized in OCI Included Component |
|
|
Loss Recognized in OCI Excluded Component |
|
|
(Loss) Gain Reclassified from AOCI into Earnings |
|
|
(Loss) Gain Reclassified from AOCI into Earnings Included Component |
|
|
Loss Reclassified from AOCI into Earnings Excluded Component |
|
Interest rate floors and floor spreads |
|
$ |
14,457 |
|
|
$ |
23,515 |
|
|
$ |
(9,058 |
) |
|
$ |
(3,462 |
) |
|
$ |
(2,878 |
) |
|
$ |
(584 |
) |
Interest rate swaps |
|
|
(71 |
) |
|
|
(71 |
) |
|
|
— |
|
|
|
244 |
|
|
|
244 |
|
|
|
— |
|
Total |
|
$ |
14,386 |
|
|
$ |
23,444 |
|
|
$ |
(9,058 |
) |
|
$ |
(3,218 |
) |
|
$ |
(2,634 |
) |
|
$ |
(584 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Six Months Ended June 30, 2026 |
|
Derivatives in Cash Flow Hedging Relationships |
|
(Loss) Gain Recognized in OCI on Derivative |
|
|
(Loss) Gain Recognized in OCI Included Component |
|
|
Gain Recognized in OCI Excluded Component |
|
|
(Loss) Gain Reclassified from AOCI into Earnings |
|
|
(Loss) Gain Reclassified from AOCI into Earnings Included Component |
|
|
Loss Reclassified from AOCI into Earnings Excluded Component |
|
Interest rate floors and floor spreads |
|
$ |
(39,517 |
) |
|
$ |
(51,450 |
) |
|
$ |
11,933 |
|
|
$ |
(1,990 |
) |
|
$ |
(828 |
) |
|
$ |
(1,162 |
) |
Interest rate swaps |
|
|
771 |
|
|
|
771 |
|
|
|
— |
|
|
|
307 |
|
|
|
307 |
|
|
|
— |
|
Total |
|
$ |
(38,746 |
) |
|
$ |
(50,679 |
) |
|
$ |
11,933 |
|
|
$ |
(1,683 |
) |
|
$ |
(521 |
) |
|
$ |
(1,162 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Six Months Ended June 30, 2025 |
|
Derivatives in Cash Flow Hedging Relationships |
|
Gain (Loss) Recognized in OCI on Derivative |
|
|
Gain (Loss) Recognized in OCI Included Component |
|
|
Loss Recognized in OCI Excluded Component |
|
|
(Loss) Gain Reclassified from AOCI into Earnings |
|
|
(Loss) Gain Reclassified from AOCI into Earnings Included Component |
|
|
Loss Reclassified from AOCI into Earnings Excluded Component |
|
Interest rate floors and floor spreads |
|
$ |
38,192 |
|
|
$ |
68,667 |
|
|
$ |
(30,475 |
) |
|
$ |
(4,857 |
) |
|
$ |
(3,695 |
) |
|
$ |
(1,162 |
) |
Interest rate swaps |
|
|
(1,160 |
) |
|
|
(1,160 |
) |
|
|
— |
|
|
|
487 |
|
|
|
487 |
|
|
|
— |
|
Total |
|
$ |
37,032 |
|
|
$ |
67,507 |
|
|
$ |
(30,475 |
) |
|
$ |
(4,370 |
) |
|
$ |
(3,208 |
) |
|
$ |
(1,162 |
) |
|