Derivatives (Tables)

12 Months Ended

Dec. 31, 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 adjustment recorded relative to the notional amount of derivatives outstanding as well as the notional amount of risk participation agreements participated to other banks at December 31:

	2023		2022
	(dollars in thousands)
Derivatives not Designated as Hedging Instruments
Credit value adjustment	$	(13)	$	(27)
Notional Amount:
Interest rate derivatives	945,046		816,745
Interest rate caps	37,647		15,340
Interest rate collars	35,878		35,354
Risk participation agreements	206,325		256,043
Sold credit protection on risk participation agreements	(121,265)		(100,741)
Interest rate options	38,155		12,009
Derivatives Designated as Hedging Instruments
Interest rate swaps:
Fair value adjustment	(25,133)		(38,596)
Notional Amount	570,000		570,000
Interest rate forwards:
Fair value adjustment	(352)		63
Notional Amount	39,000		16,000

Schedule of Change in Fair Value of Derivative Assets and Liabilities

The table below presents the amount representing the change in the fair value of derivative assets and derivative liabilities attributable to credit risk included in “Other income” on the Consolidated Statements of Income for the years ended December 31:

	2023		2022		2021
	(dollars in thousands)
Non-hedging interest rate derivatives:
Increase (decrease) in other income	$	922	$	(363)	$	728
Hedging interest rate derivatives:
(Decrease) increase in interest and fees on loans	(21,647)		(5,125)		1,567
(Decrease) increase in interest from subordinated debentures	(2,658)		(283)		959
Hedging interest rate forwards:
Decrease in other income	(415)		(92)		(454)
Hedging interest rate derivatives:
Increase in other expense	—		5		11