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Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2021

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Schedule of the Notional Amount and Fair Value of the Derivative Financial Instruments

The notional amount and fair value of the Company’s derivative financial instruments as of September 30, 2021, and December 31, 2020, were as follows:

		September 30, 2021								December 31, 2020
(dollars in thousands)		Notional Amount				Fair Value				Notional Amount				Fair Value
Interest Rate Lock Commitments		$	48,993			$	1,222			$	102,881			$	4,947
Forward Commitments			60,163				213				158,759				(740	)
Interest Rate Swap Agreements
Receive Fixed/Pay Variable Swaps			1,440,485				38,162				1,362,778				90,130
Pay Fixed/Receive Variable Swaps			1,440,485				(8,275	)			1,362,778				(17,197	)
Foreign Exchange Contracts			97,172				(645	)			90,587				866
Conversion Rate Swap Agreement			135,735				—				133,286				—

Derivative Financial Instruments, their Fair Values, and Balance Sheet Location

The following table presents the Company’s derivative financial instruments, their fair values, and their location in the consolidated statements of condition as of September 30, 2021, and December 31, 2020:

Derivative Financial Instruments		September 30, 2021								December 31, 2020
Not Designated as Hedging Instruments 1		Asset				Liability				Asset				Liability
(dollars in thousands)		Derivatives				Derivatives				Derivatives				Derivatives
Interest Rate Lock Commitments		$	1,222			$	—			$	4,947			$	—
Forward Commitments			227				14				—				740
Interest Rate Swap Agreements			47,211				17,324				90,342				17,409
Foreign Exchange Contracts			61				706				878				12
Total		$	48,721			$	18,044			$	96,167			$	18,161

¹ Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the consolidated statements of condition.

Derivative Financial Instruments and the Amount and Location of the Net Gains or Losses Recognized in the Statements of Income

The following table presents the Company’s derivative financial instruments and the amount and location of the net gains or losses recognized in the consolidated statements of income for the three and nine months ended September 30, 2021, and September 30, 2020:

		Location of
Derivative Financial Instruments		Net Gains (Losses)		Three Months Ended								Nine Months Ended
Not Designated as Hedging Instruments		Recognized in the		September 30,								September 30,
(dollars in thousands)		Statements of Income		2021				2020				2021				2020
Interest Rate Lock Commitments		Mortgage Banking		$	2,083			$	4,903			$	6,927			$	15,556
Forward Commitments		Mortgage Banking			(53	)			(595	)			1,598				(3,652	)
Interest Rate Swap Agreements		Other Noninterest Income			2,147				2,575				4,848				12,041
Foreign Exchange Contracts		Other Noninterest Income			401				467				1,120				1,403
Total				$	4,578			$	7,350			$	14,493			$	25,348

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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.

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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.

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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.

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