XML 26 R17.htm IDEA: XBRL DOCUMENT
v3.22.1

DERIVATIVE INSTRUMENTS | 3 Months Ended
--- | ---
Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
DERIVATIVE INSTRUMENTS | DERIVATIVE INSTRUMENTS We use derivative instruments and other risk management techniques to reduce our exposure to adverse fluctuations in interest rates and foreign currency exchange rates in accordance with our risk management policies. During the three months ended March 31, 2022 and 2021, changes in fair value of interest rate swaps on loans and foreign exchange contracts were gains of $103 thousand and $271 thousand, and were included in other income on the consolidated statements of operations. The following table presents the notional amount and fair value of derivative instruments included in the consolidated statements of financial condition as of the dates indicated.
|  | March 31, 2022 |  | December 31, 2021
($ in thousands) |  | Notional Amount |  | Fair Value(1) |  | Notional Amount |  | Fair Value(1)
Derivative assets: |  |  |  |  |  |  |  |
Interest rate swaps on loans |  | $ | 49,807 |  |  | $ | 1,071 |  |  | $ | 58,834 |  |  | $ | 3,390 |
Foreign exchange contracts |  | 6,540 |  |  | 244 |  |  | 4,725 |  |  | 175 |
Total |  | $ | 56,347 |  |  | $ | 1,315 |  |  | $ | 63,559 |  |  | $ | 3,565 |
Derivative liabilities: |  |  |  |  |  |  |  |
Interest rate swaps on loans |  | $ | 49,807 |  |  | $ | 1,152 |  |  | $ | 58,834 |  |  | 3,594 |
Foreign exchange contracts |  | 6,540 |  |  | 236 |  |  | 4,725 |  |  | 146 |
Total |  | $ | 56,347 |  |  | $ | 1,388 |  |  | $ | 63,559 |  |  | $ | 3,740 |
(1)The fair value of interest rate swaps on loans and foreign exchange contracts are included in other assets and accrued expenses and other liabilities, respectively, in the accompanying consolidated statements of financial condition. We have entered into agreements with counterparty financial institutions, which include master netting agreements that provide for the net settlement of all contracts with a single counterparty in the event of default. We elect, however, to account for all derivatives with counterparty institutions on a gross basis.

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 The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 40 -Section 50 -Paragraph 5 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123477628&loc=d3e90205-114008 + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration