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Derivative Instruments and hedging activities (Tables) | 12 Months Ended
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Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure |
Financial instruments designated as cash flow hedges or non-hedging derivatives outstanding | Notional amount Derivative assets Derivative liabilities Statement of Fair value at Statement of Fair value at At December 31, condition December 31, condition December 31, (In thousands) 2022 2021 classification 2022 2021 classification 2022 2021 Derivatives designated as hedging instruments: Forward contracts $ 15,100 $ 87,900 Other assets $ 93 $ 18 Other liabilities $ 22 $ 125 Total derivatives designated as hedging instruments $ 15,100 $ 87,900 $ 93 $ 18 $ 22 $ 125 Derivatives not designated as hedging instruments: Interest rate caps $ 150,000 $ 27,866 Other assets $ 1,045 $ - Other liabilities $ 1,045 $ - Indexed options on deposits 85,414 79,114 Other assets 18,091 26,075 - - - Bifurcated embedded options 78,972 72,352 - - - Interest bearing deposits 15,933 22,753 Total derivatives not designated as hedging instruments $ 314,386 $ 179,332 $ 19,136 $ 26,075 $ 16,978 $ 22,753 Total derivative assets and liabilities $ 329,486 $ 267,232 $ 19,229 $ 26,093 $ 17,000 $ 22,878
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | Year ended December 31, 2022 (In thousands) Amount of net gain (loss) recognized in OCI on derivatives (effective portion) Classification in the statement of operations of the net gain (loss) reclassified from AOCI into income (effective portion and ineffective portion) Amount of net gain (loss) reclassified from AOCI into income (effective portion) Amount of net gain (loss) recognized in income on derivatives (ineffective portion) Forward contracts $ 1,636 Mortgage banking activities $ 1,458 $ - Total $ 1,636 $ 1,458 $ - Year ended December 31, 2021 (In thousands) Amount of net gain (loss) recognized in OCI on derivatives (effective portion) Classification in the statement of operations of the net gain (loss) reclassified from AOCI into income (effective portion and ineffective portion) Amount of net gain (loss) reclassified from AOCI into income (effective portion) Amount of net gain (loss) recognized in income on derivatives (ineffective portion) Forward contracts $ 456 Mortgage banking activities $ (704) $ - Total $ 456 $ (704) $ - Year ended December 31, 2020 (In thousands) Amount of net gain (loss) recognized in OCI on derivatives (effective portion) Classification in the statement of operations of the net gain (loss) reclassified from AOCI into income (effective portion and ineffective portion) Amount of net gain (loss) reclassified from AOCI into income (effective portion) Amount of net gain (loss) recognized in income on derivatives (ineffective portion) Forward contracts $ (6,594) Mortgage banking activities $ (5,559) $ - Total $ (6,594) $ (5,559) $ -
Amount of Net Gain (Loss) Recognized in Income on Derivatives | Amount of Net Gain (Loss) Recognized in Income on Derivatives Year ended Year ended Year ended Classification of Net Gain (Loss) December 31, December 31, December 31, (In thousands) Recognized in Income on Derivatives 2022 2021 2020 Forward contracts Mortgage banking activities $ 8,094 $ 2,027 $ (5,027) Indexed options on deposits Interest expense (5,290) 6,824 5,462 Bifurcated embedded options Interest expense 4,942 (6,538) (3,417) Total $ 7,746 $ 2,313 $ (2,982)

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 + Details
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- Definition Tabular disclosure of gains and losses on derivative instruments included in an entity's trading activities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4F -Subparagraph (a),(b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624186-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 55 -Paragraph 184 -URI https://asc.fasb.org/extlink&oid=127000641&loc=SL5634876-113961 + Details
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