Derivative Financial Instruments (Tables)

The notional amounts and estimated fair values of derivative positions outstanding are presented in the following table.


	June 30, 2024						December 31, 2023
			Estimated Fair Value						Estimated Fair Value
(in thousands)	Notional Amount		Asset Derivative		Liability Derivative		Notional Amount		Asset Derivative		Liability Derivative
Derivatives designated as hedges
Cash flow hedges:
Interest rate contracts:
Swaps hedging loans	$	2,850,000	$	—	$	60,428	$	2,850,000	$	668	$	57,961
Non-hedging derivatives
Customer-initiated and other derivatives:
Foreign currency forward contracts	123,234		425		382		4,824		52		31
Interest rate contracts:
Swaps	5,831,879		63,772		63,772		5,673,822		65,247		69,863
Caps and floors written	1,146,878		117		6,335		637,971		1,654		2,228
Caps and floors purchased	1,146,878		6,335		117		637,971		2,228		1,654
Forward contracts	16,228,437		25,633		24,685		8,665,675		39,123		38,570
Gross derivatives			96,282		155,719				108,972		170,307
Netting adjustment - offsetting derivative assets/liabilities			(39,904)		(39,904)				(37,346)		(37,346)
Netting adjustment - cash collateral received/posted			(45,086)		(43,655)				(38,682)		(62,044)
Net derivatives included on the consolidated balance sheets			$	11,292	$	72,160			$	32,944	$	70,917

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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