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Derivative Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2024
Derivative Financial Instruments  
Summary of notional amounts and fair values of derivatives held

March 31, 2024

December 31, 2023

Fair Value

Fair Value

Notional

Asset

Liability

Notional

Asset

Liability

(dollars in thousands)

  

Amount

  

Derivatives(1)

  

Derivatives(2)

  

Amount

  

Derivatives(1)

  

Derivatives(2)

Derivatives designated as hedging instruments:

Interest rate swaps

$

266,563

$

10,234

$

(58)

$

267,500

$

10,861

$

(1,799)

Interest rate collars

200,000

47

(43)

200,000

703

Derivatives not designated as hedging instruments:

Interest rate swaps

2,708,933

2,740

(4,645)

2,753,801

1,204

(521)

Visa derivative

114,190

(2,300)

107,548

(2,300)

Foreign exchange contracts

800

66

(1)The positive fair values of derivative assets are included in other assets.
(2)The negative fair values of derivative liabilities are included in other liabilities.
Schedule of net gains and losses recognized in income related to derivatives in fair value hedging relationships

Gains (losses) recognized in

Three Months Ended

the consolidated statements

March 31, 

(dollars in thousands)

  

of income line item

  

2024

  

2023

Gains (losses) on fair value hedging relationships recognized in interest income:

Recognized on interest rate swap

Loans and lease financing

$

(627)

$

1,189

Recognized on hedged item

Loans and lease financing

619

(1,284)

Schedule of amounts related to cumulative basis adjustments for fair value hedges

Cumulative Amount of Fair Value

Hedging Adjustment Included in the

Carrying Amount of the Hedged Asset

Carrying Amount of the Hedged Asset

(dollars in thousands)

  

March 31, 2024

  

December 31, 2023

  

March 31, 2024

  

December 31, 2023

Line item in the consolidated balance sheets in which the hedged item is included

Loans and leases

$

56,273

$

56,592

$

(10,289)

$

(10,908)

Summary of effect of cash flow hedging relationships

Three Months Ended

March 31, 

(dollars in thousands)

  

2024

    

2023

Pretax net losses recognized in other comprehensive income on cash flow derivative hedges

$

(713)

$

(442)

Pretax net losses reclassified from accumulated other comprehensive income to interest income from loans and lease financing

1,755

1,303

Summary of impact on pretax earnings of derivatives not designated as hedges

Net losses recognized

Three Months Ended

in the consolidated statements

March 31, 

(dollars in thousands)

  

of income line item

2024

  

2023

Derivatives Not Designated As Hedging Instruments:

Interest rate swaps

Other noninterest income

$

(7)

$

(378)

Visa derivative

Other noninterest income

(1,476)

(1,963)