XML 60 R45.htm IDEA: XBRL DOCUMENT
v3.22.4

Derivative Instruments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative financial instruments | The following table provides a summary of the Company’s derivatives not designated as hedging instruments as of the dates presented:
| Balance Sheet |  | December 31, 2022 |  | December 31, 2021
| Location | Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
Derivative assets: |  |  |  |  |  |  |  |  |
Interest rate contracts | Other Assets |  | $ | 258,646 |  |  | $ | 11,354 |  |  | $ | 185,447 |  |  | $ | 4,711 |
Interest rate lock commitments | Other Assets |  | 62,901 |  |  | 1,231 |  |  | 310,941 |  |  | 5,304 |
Forward commitments | Other Assets |  | 84,000 |  |  | 484 |  |  | 280,000 |  |  | 667 |
Totals |  |  | $ | 405,547 |  |  | $ | 13,069 |  |  | $ | 776,388 |  |  | $ | 10,682 |
Derivative liabilities: |  |  |  |  |  |  |  |  |
Interest rate contracts | Other Liabilities |  | $ | 258,646 |  |  | $ | 11,354 |  |  | $ | 185,447 |  |  | $ | 4,711 |
Interest rate lock commitments | Other Liabilities |  | 19,488 |  |  | 98 |  |  | 19,961 |  |  | 43 |
Forward commitments | Other Liabilities |  | 73,000 |  |  | 1,198 |  |  | 320,000 |  |  | 736 |
Totals |  |  | $ | 351,134 |  |  | $ | 12,650 |  |  | $ | 525,408 |  |  | $ | 5,490 |
The following table provides a summary of the Company’s derivatives designated as cash flow hedges as of the dates presented:
| Balance Sheet |  | December 31, 2022 |  | December 31, 2021
| Location | Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
Derivative assets: |  |  |  |  |  |  |  |  |
Interest rate swaps | Other Assets |  | $ | 130,000 |  |  | $ | 24,514 |  |  | $ | 100,000 |  |  | $ | 7,016 |
Interest rate collars | Other Assets |  | 200,000 |  |  | 464 |  |  | — |  |  | — |
Totals |  |  | $ | 330,000 |  |  | $ | 24,978 |  |  | $ | 100,000 |  |  | $ | 7,016 |
Derivative liabilities: |  |  |  |  |  |  |  |  |
Interest rate swaps | Other Liabilities |  | $ | — |  |  | $ | — |  |  | $ | 62,000 |  |  | $ | 2,902 |
Interest rate collars | Other Liabilities |  | 250,000 |  |  | 746 |  |  | — |  |  | — |
Totals |  |  | $ | 250,000 |  |  | $ | 746 |  |  | $ | 62,000 |  |  | $ | 2,902 |
The following table provides a summary of the Company's derivatives designated as fair value hedges as of the dates presented:
| Balance Sheet |  | December 31, 2022 |  | December 31, 2021
| Location | Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
Derivative liabilities: |  |  |  |  |  |  |  |  |
Interest rate swaps | Other Liabilities |  | $ | 100,000 |  |  | $ | 19,789 |  |  | $ | 100,000 |  |  | $ | 5,411 |
Gains (losses) on derivative financial instruments included in the Consolidated Statements of Income | Gains (losses) included in the Consolidated Statements of Income related to the Company’s derivative financial instruments were as follows, as of the dates presented:
| Year Ended December 31,
| 2022 |  | 2021 |  | 2020
Interest rate contracts: |  |  |  |  |
Included in interest income on loans | $ | 2,470 |  |  | $ | 2,027 |  |  | $ | 2,051 |
Interest rate lock commitments: |  |  |  |  |
Included in mortgage banking income | (4,128) |  |  | (14,563) |  |  | 15,249 |
Forward commitments |  |  |  |  |
Included in mortgage banking income | (645) |  |  | 5,021 |  |  | (4,033) |
Total | $ | (2,303) |  |  | $ | (7,515) |  |  | $ | 13,267 |
The following table presents the effects of the Company’s fair value hedge relationships on the Consolidated Statements of Income for the periods presented:
|  |  | Amount of Gain (Loss) Recognized in Income
| Income Statement | Year ended December 31,
| Location | 2022 |  | 2021 |  | 2020
Derivative liabilities: |  |  |  |  |  |  |
Interest rate swaps - subordinated notes | Interest Expense |  | $ | (14,378) |  |  | $ | (5,202) |  |  | $ | (209) |
Derivative liabilities - hedged items: |  |  |  |  |  |  |
Interest rate swaps - subordinated notes | Interest Expense |  | $ | 14,378 |  |  | $ | 5,202 |  |  | $ | 209 |
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location | The following table presents the amounts that were recorded in the Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges as of the dates presented:
|  | Carrying Amount of the Hedged Liability |  | Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Liability
Balance Sheet Location | December 31, 2022 |  | December 31, 2021 |  | December 31, 2022 |  | December 31, 2021
Long-term debt |  | $ | 78,881 |  |  | $ | 93,085 |  |  | $ | 19,789 |  |  | $ | 5,411 |
Offsetting Assets | The following table presents the Company’s gross derivative positions as recognized in the Consolidated Balance Sheets as well as the net derivative positions, including collateral pledged to the extent the application of such collateral did not reduce the net derivative liability position below zero, had the Company elected to offset those instruments subject to an enforceable master netting agreement as of the dates presented:
| Offsetting Derivative Assets |  | Offsetting Derivative Liabilities
| December 31, 2022 |  | December 31, 2021 |  | December 31, 2022 |  | December 31, 2021
Gross amounts recognized | $ | 36,493 |  |  | $ | 8,007 |  |  | $ | 22,056 |  |  | $ | 13,436 |
Gross amounts offset in the consolidated balance sheets | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in the consolidated balance sheets | 36,493 |  |  | 8,007 |  |  | 22,056 |  |  | 13,436 |
Gross amounts not offset in the consolidated balance sheets |  |  |  |  |  |  |
Financial instruments | 22,056 |  |  | 7,208 |  |  | 22,056 |  |  | 7,208 |
Financial collateral pledged | — |  |  | — |  |  | — |  |  | 6,228 |
Net amounts | $ | 14,437 |  |  | $ | 799 |  |  | $ | — |  |  | $ | — |
Offsetting Liabilities | The following table presents the Company’s gross derivative positions as recognized in the Consolidated Balance Sheets as well as the net derivative positions, including collateral pledged to the extent the application of such collateral did not reduce the net derivative liability position below zero, had the Company elected to offset those instruments subject to an enforceable master netting agreement as of the dates presented:
| Offsetting Derivative Assets |  | Offsetting Derivative Liabilities
| December 31, 2022 |  | December 31, 2021 |  | December 31, 2022 |  | December 31, 2021
Gross amounts recognized | $ | 36,493 |  |  | $ | 8,007 |  |  | $ | 22,056 |  |  | $ | 13,436 |
Gross amounts offset in the consolidated balance sheets | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in the consolidated balance sheets | 36,493 |  |  | 8,007 |  |  | 22,056 |  |  | 13,436 |
Gross amounts not offset in the consolidated balance sheets |  |  |  |  |  |  |
Financial instruments | 22,056 |  |  | 7,208 |  |  | 22,056 |  |  | 7,208 |
Financial collateral pledged | — |  |  | — |  |  | — |  |  | 6,228 |
Net amounts | $ | 14,437 |  |  | $ | 799 |  |  | $ | — |  |  | $ | — |

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative and other financial assets that are subject to offsetting, including master netting arrangements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=51824906&loc=SL20225877-175312 + Details
Name: | us-gaap_OffsettingAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative and other financial liabilities that are subject to offsetting, including master netting arrangements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=51824906&loc=SL20225862-175312 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=51824906&loc=SL20225877-175312 + Details
Name: | us-gaap_OffsettingLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + 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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41641-113959 Reference 8: 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 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the 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 4A -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 + Details
Name: | us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration