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Derivative Instruments and hedging activities (Tables) | 12 Months Ended
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Dec. 31, 2023
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) 2023 2022 classification 2023 2022 classification 2023 2022 Derivatives designated as hedging instruments: Forward contracts $ - $ 15,100 Other assets $ - $ 93 Other liabilities $ - $ 22 Total derivatives designated as hedging instruments $ - $ 15,100 $ - $ 93 $ - $ 22 Derivatives not designated as hedging instruments: Forward contracts $ 14,930 $ - - $ - $ - Other liabilities $ 138 $ - Interest rate caps 528,125 150,000 Other assets 2,195 1,045 Other liabilities 2,213 1,045 Indexed options on deposits 89,730 85,414 Other assets 22,224 18,091 - - - Bifurcated embedded options 82,118 78,972 - - - Interest bearing deposits 18,752 15,933 Total derivatives not designated as hedging instruments $ 714,903 $ 314,386 $ 24,419 $ 19,136 $ 21,103 $ 16,978 Total derivative assets and liabilities $ 714,903 $ 329,486 $ 24,419 $ 19,229 $ 21,103 $ 17,000
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | Year ended December 31, 2023 (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 $ (30) Mortgage banking activities $ 41 $ - Total $ (30) $ 41 $ - 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) $ -
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 2023 2022 2021 Forward contracts Mortgage banking activities $ 655 $ 8,094 $ 2,027 Interest rate caps Other operating income (18) - - Indexed options on deposits Interest expense 6,201 (5,290) 6,824 Bifurcated embedded options Interest expense (5,326) 4,942 (6,538) Total $ 1,512 $ 7,746 $ 2,313

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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 -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A + 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 -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B + Details
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