v3.26.1
Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of derivative instruments
The following table presents information regarding our derivative financial instruments at the dates indicated (in thousands):
Asset derivativesLiability derivatives
Notional amountFair valueNotional amountFair value
At June 30, 2026
Derivatives designated as hedging instruments:
Interest rate swap agreements$100,000 609 75,000 58 
Derivatives not designated as hedging instruments:
Interest rate swap agreements878,510 20,652 878,510 20,708 
Interest rate lock commitments28,250 673 — — 
Forward commitments3,093 78 — — 
Risk participation agreements— — 113,072 14 
Total Derivatives$1,009,853 22,012 1,066,582 20,780 
At December 31, 2025
Derivatives designated as hedging instruments:
Interest rate swap agreements$50,000 51 125,000 1,280 
Derivatives not designated as hedging instruments:
Interest rate swap agreements 912,021 25,155 912,021 25,366 
Foreign exchange swap agreements2,592 4 — — 
Interest rate lock commitments24,772 617 — — 
Forward commitments2,711 95 — — 
Risk participation agreements— — 117,582 27 
Total derivatives $992,096 25,922 1,154,603 26,673 
Schedule of gain (loss) on derivative instruments
The following table presents income or expense recognized on derivatives for the periods indicated (in thousands):
For the quarter ended June 30,For the six months ended June 30,
2026202520262025
Hedging derivatives:
Decrease/(increase) in interest expense$41 293 (13)587 
Non-hedging swap derivatives:
Increase/(decrease) in other operating income97 (231)166 (612)
Increase/(decrease) in mortgage banking income160 627 (85)789 
Schedule of interest rate products designated as hedging instruments
The following table presents information regarding our derivative financial instruments designated as hedging for the quarter ended June 30, 2026 (dollars in thousands):
Notional amountEffective rateEstimated (decrease)/increase to interest expense in the next twelve monthsMaturity dateRemaining term
(in months)
Interest rate products:
Issued May 11, 2023$25,000 3.41 %$(107)5/11/202710
Issued May 12, 202325,000 3.46 %(95)5/12/202822
Issued May 19, 202325,000 3.75 %(22)11/19/202717
Issued May 31, 202325,000 4.01 %30 11/30/20265
Issued July 26, 202325,000 4.12 %80 7/26/202825
Issued July 31, 202325,000 4.22 %104 1/31/202819
Issued August 9, 202325,000 4.29 %101 8/9/202713
Total$175,000 $91 
Schedule of Offsetting assets
The following tables present the gross amounts of these assets and liabilities with any offsets to arrive at the net amounts recognized in the Consolidated Statements of Financial Condition as of June 30, 2026 (dollars in thousands).
Derivative assetsGross amounts of
recognized assets		Gross amounts offset in
the consolidated statement
of financial condition		Net amounts of
assets presented in the consolidated of condition
Interest rate swaps - hedging$609 (609)— 
Interest rate swaps - not hedging20,652 (15,540)5,112 
Derivative liabilitiesGross amounts of
recognized liabilities		Gross amounts offset in
the consolidated statement
of financial condition		Net amounts of
liabilities presented in
the consolidated of condition
Interest rate swaps - hedging58 (58)— 
Interest rate swaps - not hedging20,708 (2,841)17,867 


The following tables present the gross amounts of these assets and liabilities with any offsets to arrive at the net amounts recognized in the Consolidated Statements of Financial Condition as of December 31, 2025 (dollars in thousands).
Derivative assetsGross amounts of
recognized assets		Gross amounts offset in
the consolidated statement
of financial condition		Net amounts of
assets presented in the consolidated of condition
Interest rate swaps - hedging$51 (51)— 
Interest rate swaps - not hedging25,155 (13,380)11,775 
Derivative liabilitiesGross amounts of
recognized liabilities		Gross amounts offset in
the consolidated statement
of financial condition		Net amounts of
liabilities presented in
the consolidated of condition
Interest rate swaps - hedging$1,280 (1,280)— 
Interest rate swaps - not hedging25,366 (10,251)15,115 
Schedule of Offsetting liabilities
The following tables present the gross amounts of these assets and liabilities with any offsets to arrive at the net amounts recognized in the Consolidated Statements of Financial Condition as of June 30, 2026 (dollars in thousands).
Derivative assetsGross amounts of
recognized assets		Gross amounts offset in
the consolidated statement
of financial condition		Net amounts of
assets presented in the consolidated of condition
Interest rate swaps - hedging$609 (609)— 
Interest rate swaps - not hedging20,652 (15,540)5,112 
Derivative liabilitiesGross amounts of
recognized liabilities		Gross amounts offset in
the consolidated statement
of financial condition		Net amounts of
liabilities presented in
the consolidated of condition
Interest rate swaps - hedging58 (58)— 
Interest rate swaps - not hedging20,708 (2,841)17,867 


The following tables present the gross amounts of these assets and liabilities with any offsets to arrive at the net amounts recognized in the Consolidated Statements of Financial Condition as of December 31, 2025 (dollars in thousands).
Derivative assetsGross amounts of
recognized assets		Gross amounts offset in
the consolidated statement
of financial condition		Net amounts of
assets presented in the consolidated of condition
Interest rate swaps - hedging$51 (51)— 
Interest rate swaps - not hedging25,155 (13,380)11,775 
Derivative liabilitiesGross amounts of
recognized liabilities		Gross amounts offset in
the consolidated statement
of financial condition		Net amounts of
liabilities presented in
the consolidated of condition
Interest rate swaps - hedging$1,280 (1,280)— 
Interest rate swaps - not hedging25,366 (10,251)15,115