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Derivatives (Tables) | 9 Months Ended
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Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
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:
|  | Offsetting Derivative Assets |  | Offsetting Derivative Liabilities
|  | September 30, 2020 |  | December 31, 2019 |  | September 30, 2020 |  | December 31, 2019
Gross amounts recognized |  | $ | 4,328 |  |  | $ | 331 |  |  | $ | 39,298 |  |  | $ | 14,682 |
Gross amounts offset in the consolidated balance sheets |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in the consolidated balance sheets |  | 4,328 |  |  | 331 |  |  | 39,298 |  |  | 14,682 |
Gross amounts not offset in the consolidated balance sheets |  |  |  |  |  |  |  |
Less: financial instruments |  | 974 |  |  | 139 |  |  | 974 |  |  | 139 |
Less: financial collateral pledged |  | — |  |  | — |  |  | 38,324 |  |  | 14,543 |
Net amounts |  | $ | 3,354 |  |  | $ | 192 |  |  | $ | — |  |  | $ | — |
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:
|  | Offsetting Derivative Assets |  | Offsetting Derivative Liabilities
|  | September 30, 2020 |  | December 31, 2019 |  | September 30, 2020 |  | December 31, 2019
Gross amounts recognized |  | $ | 4,328 |  |  | $ | 331 |  |  | $ | 39,298 |  |  | $ | 14,682 |
Gross amounts offset in the consolidated balance sheets |  | — |  |  | — |  |  | — |  |  | — |
Net amounts presented in the consolidated balance sheets |  | 4,328 |  |  | 331 |  |  | 39,298 |  |  | 14,682 |
Gross amounts not offset in the consolidated balance sheets |  |  |  |  |  |  |  |
Less: financial instruments |  | 974 |  |  | 139 |  |  | 974 |  |  | 139 |
Less: financial collateral pledged |  | — |  |  | — |  |  | 38,324 |  |  | 14,543 |
Net amounts |  | $ | 3,354 |  |  | $ | 192 |  |  | $ | — |  |  | $ | — |
Schedule of Derivative Financial Instruments | The following tables provide details on the Company’s derivative financial instruments as of the dates presented:
|  | September 30, 2020 |
|  | Notional Amount |  | Asset |  | Liability |
Not designated as hedging: |  |  |  |  |  |  |
Interest rate contracts |  | $ | 590,166 |  |  | $ | 39,538 |  |  | $ | 39,303 |  |
Forward commitments |  | 1,510,902 |  |  | — |  |  | 4,523 |  |
Interest rate-lock commitments |  | 1,364,222 |  |  | 43,049 |  |  | — |  |
Futures contracts |  | 327,700 |  |  | — |  |  | 66 |  |
Total |  | $ | 3,792,990 |  |  | $ | 82,587 |  |  | $ | 43,892 |  |
|  | December 31, 2019
|  | Notional Amount |  | Asset |  | Liability
Not designated as hedging: |  |  |  |  |  |
Interest rate contracts |  | $ | 440,556 |  |  | $ | 14,929 |  |  | $ | 14,929 |
Forward commitments |  | 684,437 |  |  | — |  |  | 866 |
Interest rate-lock commitments |  | 453,198 |  |  | 7,052 |  |  | — |
Futures contracts |  | 389,000 |  |  | — |  |  | 1,623 |
Total |  | $ | 1,967,191 |  |  | $ | 21,981 |  |  | $ | 17,418 |
|  | September 30, 2020
|  | Notional Amount |  | Asset |  | Liability
Designated as hedging: |  |  |  |  |  |
Interest rate swaps |  | $ | 30,000 |  |  | $ | — |  |  | $ | 2,063 |
|  | December 31, 2019 |
|  | Notional Amount |  | Asset |  | Liability |
Designated as hedging: |  |  |  |  |  |  |
Interest rate swaps |  | $ | 30,000 |  |  | $ | — |  |  | $ | 515 |  |
Schedule of Gains (Losses) Included in the Consolidated Statements of Income Related to Derivative Financial Instruments | Gains (losses) included in the consolidated statements of income related to the Company’s derivative financial instruments were as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |  |  |
Not designated as hedging instruments (included in mortgage banking income): |  |  |  |  |  |  |  |  |  |
Interest rate lock commitments |  | $ | 5,994 |  |  | $ | 447 |  |  | $ | 35,997 |  |  | $ | 4,202 |  |  |
Forward commitments |  | (16,548) |  |  | (3,227) |  |  | (56,998) |  |  | (12,895) |  |  |
Futures contracts |  | (587) |  |  | 4,685 |  |  | 10,955 |  |  | 10,663 |  |  |
Option contracts |  | — |  |  | 3 |  |  | — |  |  | 47 |  |  |
Total |  | $ | (11,141) |  |  | $ | 1,908 |  |  | $ | (10,046) |  |  | $ | 2,017 |  |  |
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |  |  |
Designated as hedging: |  |  |  |  |  |  |  |  |  |
Amount of gain reclassified from other comprehensive income and recognized in interest expense on borrowings, net of taxes of $(41), $(46), $(145), and $(121) |  | $ | 115 |  |  | $ | 130 |  |  | $ | 410 |  |  | $ | 343 |  |  |
(Loss) gain included in interest expense on borrowings |  | (137) |  |  | 19 |  |  | (211) |  |  | 113 |  |  |
Total |  | $ | (22) |  |  | $ | 149 |  |  | $ | 199 |  |  | $ | 456 |  |  |
The following discloses the amount included in other comprehensive income, net of tax, for derivative instruments designated as cash flow hedges for the periods presented:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |  |  |
Designated as hedging: |  |  |  |  |  |  |  |  |  |
Amount of (loss) gain recognized in other comprehensive income, net of tax $40, $(90), $(403), $(407) |  | $ | 112 |  |  | $ | (256) |  |  | $ | (1,145) |  |  | $ | (1,151) |  |  |

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