Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2026

Schedule of derivative financial instruments

The following table summarizes the derivative financial instruments used by the Company as of September 30, 2026, and December 31, 2025:


				September 30, 2026							December 31, 2025
				Estimated Fair Value							Estimated Fair Value
(Dollars in thousands)	Balance Sheet Location	Notional Amount		Gain			Loss		Notional Amount		Gain		Loss
Fair value hedge of interest rate risk:
Pay fixed rate swap with counterparty	Other Assets	$	2,615	$	112		$	—	$	2,615	$	44	$	—
Not designated hedges of interest rate risk:
Customer related interest rate contracts:
Matched interest rate swaps with borrowers	Other Assets and Other Liabilities		16,117,992		9,495			982,452		14,912,622		143,879		554,433
Matched interest rate swaps with counterparty (1)	Other Assets		15,611,962		108,448			—		14,719,305		77,799		—
Economic hedges of interest rate risk:
Pay floating rate swap with counterparty	Other Assets		4,433,000		(134	)		—		2,519,000		113		—
Not designated hedges of interest rate risk – mortgage banking activities:
Contracts used to hedge mortgage servicing rights	Other Assets and Other Liabilities		224,000		—			5,243		192,000		69		—
Contracts used to hedge mortgage pipeline	Other Assets and Other Liabilities		84,500		1,810			265		81,000		982		315
Total derivatives		$	36,474,069	$	119,731		$	987,960	$	32,426,542	$	222,886	$	554,748

(1)

The fair value of the interest rate swap derivative assets was reduced by $868.1 million and $333.7 million at September 30, 2026 and December 31, 2025, respectively, in variation margin payments applicable to swaps centrally cleared through LCH and CME.

Schedule of derivative, offsetting assets and liabilities

The following table summarizes the derivative assets and derivative liabilities related to the counterparties on our interest rate swaps subject to master netting agreements where the Company has elected to net the fair values. The Company has elected to not offset cash collateral against the netted derivative assets and liabilities subject to master netting agreements.


				September 30, 2026								December 31, 2025
				Estimated Fair Value								Estimated Fair Value
(Dollars in thousands)	Notional Amount			Gain			Loss			Notional Amount		Gain			Loss
Interest rate contracts subject to master netting agreements included in table above
Total gross derivative instruments, before netting		$	1,609,325	$	124,550		$	19		$	1,844,842	$	81,240		$	3,781
Less: Netting adjustment			19,723		(19	)		(19	)		221,941		(3,781	)		(3,781	)
Total gross derivative instruments, after netting			1,609,325	$	124,531		$	—			1,844,842	$	77,459		$	—

* As of September 30, 2026, and December 31, 2025, counterparties provided $46.6 million and $25.9 million, respectively, of cash collateral to the Company to secure swap asset positions that were not centrally cleared, which is included in Interest-bearing Deposits within Total Liabilities on the Consolidated Balance Sheets. Counterparties also pledged $24.3 million and $28.1 million, respectively, as of September 30, 2026, and December 31, 2025 in investment securities to secure swap asset positions that were not centrally cleared. The Company provided $2.4 million and $1.7 million, respectively, to counterparties to secure swap positions that were not centrally cleared as of September 30, 2026, and December 31, 2025.

Schedule of notional value of forward sale commitments and the fair value of those obligations along with the fair value of the mortgage pipeline

The following table presents our notional value of forward sale commitments and the fair value of those obligations along with the fair value of the mortgage pipeline related to the held for sale portfolio:


(Dollars in thousands)	September 30, 2026			December 31, 2025
Mortgage loan pipeline	$	80,255		$	55,318
Expected closures		73,661			48,106
Fair value of mortgage loan pipeline commitments		(265	)		982
Forward sales commitments		84,500			81,000
Fair value of forward commitments		1,810			(315	)