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Derivative Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule Of Fair Value Of Derivative Financial Instruments | The table below presents the fair value of the Company’s derivative financial instruments as of March 31, 2022, December 31, 2021 and March 31, 2021:
| Derivative Assets |  | Derivative Liabilities
(In thousands) | March 31, 2022 |  | December 31, 2021 |  | March 31, 2021 |  | March 31, 2022 |  | December 31, 2021 |  | March 31, 2021
Derivatives designated as hedging instruments under ASC 815: |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives designated as Cash Flow Hedges | $ | 13,257 |  |  | $ | 47,309 |  |  | $ | 50,420 |  |  | $ | 3,361 |  |  | $ | 10,401 |  |  | $ | 31,161 |
Interest rate derivatives designated as Fair Value Hedges | 7,388 |  |  | 1,474 |  |  | 121 |  |  | 1,716 |  |  | 5,841 |  |  | 9,569 |
Total derivatives designated as hedging instruments under ASC 815 | $ | 20,645 |  |  | $ | 48,783 |  |  | $ | 50,541 |  |  | $ | 5,077 |  |  | $ | 16,242 |  |  | $ | 40,730 |
Derivatives not designated as hedging instruments under ASC 815: |  |  |  |  |  |  |  |  |  |  |
Interest rate derivatives | $ | 119,056 |  |  | $ | 103,710 |  |  | $ | 155,695 |  |  | $ | 115,002 |  |  | $ | 103,665 |  |  | $ | 155,361 |
Interest rate lock commitments | 3,447 |  |  | 10,560 |  |  | 44,313 |  |  | 1,558 |  |  | 885 |  |  | 1,342 |
Forward commitments to sell mortgage loans | 10,063 |  |  | 1,625 |  |  | 2,920 |  |  | 147 |  |  | 1,878 |  |  | 3,283 |
Foreign exchange contracts | 323 |  |  | 330 |  |  | 40 |  |  | 323 |  |  | 330 |  |  | 42 |
Total derivatives not designated as hedging instruments under ASC 815 | $ | 132,889 |  |  | $ | 116,225 |  |  | $ | 202,968 |  |  | $ | 117,030 |  |  | $ | 106,758 |  |  | $ | 160,028 |
Total Derivatives | $ | 153,534 |  |  | $ | 165,008 |  |  | $ | 253,509 |  |  | $ | 122,107 |  |  | $ | 123,000 |  |  | $ | 200,758 |
Schedule Of Cash Flow Hedging Instruments | The table below provides details on these cash flow hedges, summarized by derivative type and maturity, as of March 31, 2022:
| March 31, 2022
(In thousands) | Notional |  | Fair Value
Maturity Date | Amount |  | Asset (Liability)
Interest Rate Swaps: |  |  |
May 2022 | $ | 370,000 |  |  | $ | (643) |
June 2022 | 160,000 |  |  | (450) |
July 2022 | 230,000 |  |  | (716) |
August 2022 | 235,000 |  |  | (857) |
March 2023 (1) | 250,000 |  |  | 3,454 |
April 2024 (1) | 250,000 |  |  | 9,804 |
Interest Rate Collars: |  |  |
September 2023 | 75,000 |  |  | (696) |
Total Cash Flow Hedges | $ | 1,570,000 |  |  | $ | 9,896 |
(1)Subsequently terminated in April 2022.
Rollforward Of Amounts In Accumulated Other Comprehensive Income Related To Interest Rate Swaps Designated As Cash Flow Hedges | A rollforward of the amounts in accumulated other comprehensive income or loss related to interest rate derivatives designated as cash flow hedges, including such derivative contracts terminated during the period, follows:
| Three Months Ended |  |
(In thousands) | March 31, 2022 |  | March 31, 2021 |  |  |  |
Unrealized gain (loss) at beginning of period | $ | 36,908 |  |  | $ | (31,533) |  |  |  |  |
Amount reclassified from accumulated other comprehensive income to interest expense on deposits, other borrowings and junior subordinated debentures | 5,353 |  |  | 6,696 |  |  |  |  |
Amount of income recognized in other comprehensive income | 34,128 |  |  | 44,096 |  |  |  |  |
Unrealized gain at end of period | $ | 76,389 |  |  | $ | 19,259 |  |  |  |  |
Schedule of Carrying Amount of Hedged Assets/(Liabilities) | The following table presents the carrying amount of the hedged assets/(liabilities) and the cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged assets/(liabilities) that are designated as a fair value hedge accounting relationship as of March 31, 2022:
|  |  | March 31, 2022
(In thousands) Derivatives in Fair Value Hedging Relationships | Location in the Statement of Condition |  | Carrying Amount of the Hedged Assets/(Liabilities) |  | Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities) |  |  | Cumulative Amount of Fair Value Hedging Adjustment Remaining for any Hedged Assets/(Liabilities) for which Hedge Accounting has been Discontinued
Interest rate swaps | Loans, net of unearned income |  | $ | 131,138 |  |  | $ | (5,664) |  |  |  | $ | (125) |
| Available-for-sale debt securities |  | 1,070 |  |  | 24 |  |  |  | — |
The following table presents the loss or gain recognized related to derivative instruments that are designated as fair value hedges for the respective period:
(In thousands) Derivatives in Fair Value Hedging Relationships | Location of (Loss)/Gain Recognized in Income on Derivative |  | Three Months Ended |  |
March 31, 2022 |  |
Interest rate swaps | Interest and fees on loans |  | $ | 16 |  |  |
| Interest income - investment securities |  | — |  |  |
Summary Amounts Included In Consolidated Statement Of Income Related To Derivatives | Amounts included in the Consolidated Statements of Income related to derivative instruments not designated in hedge relationships were as follows:
(In thousands) |  |  | Three Months Ended |  |
Derivative | Location in income statement |  | March 31, 2022 |  | March 31, 2021 |  |  |  |
Interest rate swaps and caps | Trading gains, net |  | $ | 4,024 |  |  | $ | 428 |  |  |  |  |
Mortgage banking derivatives | Mortgage banking revenue |  | (7,369) |  |  | (17,479) |  |  |  |  |
Foreign exchange contracts | Trading gains, net |  | — |  |  | (5) |  |  |  |  |
Covered call options | Fees from covered call options |  | 3,742 |  |  | — |  |  |  |  |
Offsetting Assets | The tables below summarize the Company's interest rate derivatives and offsetting positions as of the dates shown.
| Derivative Assets |  | Derivative Liabilities
| Fair Value |  | Fair Value
(In thousands) | March 31, 2022 |  | December 31, 2021 |  | March 31, 2021 |  | March 31, 2022 |  | December 31, 2021 |  | March 31, 2021
Gross Amounts Recognized | $ | 139,701 |  |  | $ | 152,493 |  |  | $ | 206,236 |  |  | $ | 120,079 |  |  | $ | 119,907 |  |  | $ | 196,091 |
Less: Amounts offset in the Statements of Condition | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net amount presented in the Statements of Condition | $ | 139,701 |  |  | $ | 152,493 |  |  | $ | 206,236 |  |  | $ | 120,079 |  |  | $ | 119,907 |  |  | $ | 196,091 |
Gross amounts not offset in the Statements of Condition |  |  |  |  |  |  |  |  |  |  |
Offsetting Derivative Positions | (19,557) |  |  | (52,832) |  |  | (60,593) |  |  | (19,557) |  |  | (52,832) |  |  | (60,593) |
Collateral Posted | (70,807) |  |  | (3,530) |  |  | — |  |  | (257) |  |  | (55,201) |  |  | (125,818) |
Net Credit Exposure | $ | 49,337 |  |  | $ | 96,131 |  |  | $ | 145,643 |  |  | $ | 100,265 |  |  | $ | 11,874 |  |  | $ | 9,680 |
Offsetting Liabilities | The tables below summarize the Company's interest rate derivatives and offsetting positions as of the dates shown.
| Derivative Assets |  | Derivative Liabilities
| Fair Value |  | Fair Value
(In thousands) | March 31, 2022 |  | December 31, 2021 |  | March 31, 2021 |  | March 31, 2022 |  | December 31, 2021 |  | March 31, 2021
Gross Amounts Recognized | $ | 139,701 |  |  | $ | 152,493 |  |  | $ | 206,236 |  |  | $ | 120,079 |  |  | $ | 119,907 |  |  | $ | 196,091 |
Less: Amounts offset in the Statements of Condition | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net amount presented in the Statements of Condition | $ | 139,701 |  |  | $ | 152,493 |  |  | $ | 206,236 |  |  | $ | 120,079 |  |  | $ | 119,907 |  |  | $ | 196,091 |
Gross amounts not offset in the Statements of Condition |  |  |  |  |  |  |  |  |  |  |
Offsetting Derivative Positions | (19,557) |  |  | (52,832) |  |  | (60,593) |  |  | (19,557) |  |  | (52,832) |  |  | (60,593) |
Collateral Posted | (70,807) |  |  | (3,530) |  |  | — |  |  | (257) |  |  | (55,201) |  |  | (125,818) |
Net Credit Exposure | $ | 49,337 |  |  | $ | 96,131 |  |  | $ | 145,643 |  |  | $ | 100,265 |  |  | $ | 11,874 |  |  | $ | 9,680 |

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