Derivatives (Tables)

9 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Credit Value Adjustment Recorded Related to Notional Amount Of Derivatives Outstanding

The following table depicts the credit value and fair value adjustments recorded related to the notional amount of derivatives outstanding as well as the notional amount of risk participation agreements participated to other banks:

	September 30, 2023		December 31, 2022
	(dollars in thousands)
Derivatives not Designated as Hedging Instruments
Credit value adjustment	$	—	$	(27)
Notional amount:
Interest rate derivatives	860,545		816,745
Interest rate caps	37,746		15,340
Interest rate collars	35,354		35,354
Risk participation agreements	199,341		256,043
Sold credit protection on risk participation agreements	(101,321)		(100,741)
Interest rate options	51,384		12,009
Derivatives Designated as Hedging Instruments
Interest rate swaps:
Fair value adjustment	(34,260)		(38,596)
Notional amount	570,000		570,000
Interest rate forwards:
Fair value adjustment	653		63
Notional amount	52,000		16,000
Foreign exchange forwards:
Fair value adjustment	—		—
Notional amount	—		—

Schedule of Changes in Fair Value of Derivative Assets and Liabilities

The table below presents the change in the fair value of derivative assets and derivative liabilities attributable to credit risk or fair value changes included in "Other income", "Other expense," "Interest on subordinated debentures" or "Interest and fees on loans" in the unaudited Consolidated Statements of Income:

	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2023		2022		2023		2022
	(dollars in thousands)
Non-hedging interest rate derivatives
Decrease in other income	$	(581)	$	(149)	$	(178)	$	(1,253)
Hedging interest rate derivatives
Decrease in interest and fees on loans	(5,508)		(1,975)		(15,678)		(1,288)
(Decrease) increase in interest from subordinated debentures	(715)		(159)		(1,925)		159
Hedging interest rate forwards
Decrease in other income	(460)		(764)		(590)		(1,036)
Hedging foreign exchange forwards
Increase in other expense	—		7		—		5