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DERIVATIVES AND HEDGING ACTIVITIES (Tables) | 12 Months Ended
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Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Notional Amount and Fair Value for Derivatives | The notional amounts and fair values for derivatives, which are included in other assets or accounts payable and other liabilities on the consolidated balance sheets consist of the following:
| At December 31, 2022
| Notional amount |  | Fair value derivatives
(in thousands) |  |  | Asset |  | Liability
Forward sale commitments | $ | 51,252 |  |  | $ | 293 |  |  | $ | (151) |
Interest rate lock commitments | 17,463 |  |  | 141 |  |  | (36) |
Interest rate swaps | 236,533 |  |  | 13,093 |  |  | (13,093) |
Futures | 23,000 |  |  | 18 |  |  | — |
Options | 14,000 |  |  | 218 |  |  | — |
Total derivatives before netting | $ | 342,248 |  |  | $ | 13,763 |  |  | $ | (13,280) |
Netting adjustment/Cash collateral (1) |  |  | (12,870) |  |  | 101 |
Carrying value on consolidated balance sheet |  |  | $ | 893 |  |  | $ | (13,179) |
| At December 31, 2021
| Notional amount |  | Fair value derivatives
(in thousands) |  |  | Asset |  | Liability
Forward sale commitments | $ | 793,208 |  |  | $ | 723 |  |  | $ | (640) |
Interest rate lock commitments | 115,025 |  |  | 2,487 |  |  | (3) |
Interest rate swaps | 287,352 |  |  | 4,381 |  |  | (4,541) |
Futures | 139,900 |  |  | 334 |  |  | — |
Total derivatives before netting | $ | 1,335,485 |  |  | 7,925 |  |  | (5,184) |
Netting adjustment/Cash collateral (1) |  |  | 1,355 |  |  | 3,921 |
Carrying value on consolidated balance sheet |  |  | $ | 9,280 |  |  | $ | (1,263) |
(1) Includes net cash collateral received of $12.8 million and paid of $5.3 million at December 31, 2022 and 2021, respectively.
Schedule of Derivative Instruments | The following tables present gross fair value and net carrying value information about derivative instruments:
(in thousands) | Gross fair value |  | Netting adjustments/Cash collateral (1) |  | Carrying value |  |  |  |  |  |
At December 31, 2022 |  |  |  |  |  |  |  |  |  |  |
Derivative assets | $ | 13,763 |  |  | $ | (12,870) |  |  | $ | 893 |  |  |  |  |  |  |
Derivative liabilities | (13,280) |  |  | 101 |  |  | (13,179) |  |  |  |  |  |  |
At December 31, 2021 |  |  |  |  |  |  |  |  |  |  |
Derivative assets | $ | 7,925 |  |  | $ | 1,355 |  |  | $ | 9,280 |  |  |  |  |  |  |
Derivative liabilities | (5,184) |  |  | 3,921 |  |  | (1,263) |  |  |  |  |  |  |
(1) Includes net cash collateral received of $12.8 million and paid of $5.3 million at December 31, 2022 and 2021, respectively.
Net Gains (Losses) Recognized on Economic Hedge Derivatives | The following table presents the net gain (loss) recognized on economic hedge derivatives, within the respective line items in the consolidated income statements for the periods indicated:
| Years Ended December 31, |
(in thousands) | 2022 |  | 2021 |  | 2020 |  |
Recognized in noninterest income: |  |  |  |  |  |  |
Net gain (loss) on loan origination and sale activities (1) | $ | 8,587 |  |  | $ | (6,057) |  |  | $ | (7,675) |  |  |
Loan servicing income (loss) (2) | (11,769) |  |  | (8,238) |  |  | 20,820 |  |  |
Other (3) | 160 |  |  | 386 |  |  | (421) |  |  |
(1)Comprised of interest rate lock commitments (" IRLCs") and forward contracts used as economic hedges of single family mortgage LHFS. (2)Comprised of interest rate swaps, interest rate swaptions, futures, US Treasury options and forward contracts used as economic hedges of single family MSRs. (3)Impact of interest rate swap agreements executed with commercial banking customers.

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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 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
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