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Derivative Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2022
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 March 31, 2022, and December 31, 2021, were as follows:
|  | March 31, 2022 |  |  | December 31, 2021 |
(dollars in thousands) |  | Notional Amount |  |  | Fair Value |  |  | Notional Amount |  |  | Fair Value |
Interest Rate Lock Commitments |  | $ | 13,195 |  |  | $ | 117 |  |  | $ | 45,857 |  |  | $ | 1,084 |
Forward Commitments |  |  | 15,448 |  |  |  | 231 |  |  |  | 58,523 |  |  |  | (35 | )
Interest Rate Swap Agreements |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Receive Fixed/Pay Variable Swaps |  |  | 1,535,468 |  |  |  | (48,455 | ) |  |  | 1,400,322 |  |  |  | 28,742 |
Pay Fixed/Receive Variable Swaps |  |  | 1,535,468 |  |  |  | (2,092 | ) |  |  | 1,400,322 |  |  |  | (5,922 | )
Foreign Exchange Contracts |  |  | 100,917 |  |  |  | (2,035 | ) |  |  | 102,548 |  |  |  | (674 | )
Conversion Rate Swap Agreement |  |  | 134,747 |  |  |  | — |  |  |  | 131,672 |  |  |  | — |
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 March 31, 2022, and December 31, 2021:
Derivative Financial Instruments |  | March 31, 2022 |  |  | December 31, 2021 |
Not Designated as Hedging Instruments 1 |  | Asset |  |  | Liability |  |  | Asset |  |  | Liability |
(dollars in thousands) |  | Derivatives |  |  | Derivatives |  |  | Derivatives |  |  | Derivatives |
Interest Rate Lock Commitments |  | $ | 172 |  |  | $ | 54 |  |  | $ | 1,084 |  |  | $ | — |
Forward Commitments |  |  | 237 |  |  |  | 7 |  |  |  | 17 |  |  |  | 52 |
Interest Rate Swap Agreements |  |  | 12,208 |  |  |  | 62,755 |  |  |  | 40,733 |  |  |  | 17,913 |
Foreign Exchange Contracts |  |  | 314 |  |  |  | 2,349 |  |  |  | 177 |  |  |  | 851 |
Total |  | $ | 12,931 |  |  | $ | 65,165 |  |  | $ | 42,011 |  |  | $ | 18,816 |
1 | Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the consolidated statements of condition. The Company’s free-standing derivative financial instruments are required to be carried at their fair value on the Company’s 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 months ended March 31, 2022, and March 31, 2021:
|  | Location of |  |  |  |  |  |  |  |
Derivative Financial Instruments |  | Net Gains (Losses) |  | Three Months Ended |
Not Designated as Hedging Instruments |  | Recognized in the |  | March 31, |
(dollars in thousands) |  | Statements of Income |  | 2022 |  |  | 2021 |
Interest Rate Lock Commitments |  | Mortgage Banking |  | $ | (1,079 | ) |  | $ | 773 |
Forward Commitments |  | Mortgage Banking |  |  | 1,908 |  |  |  | 3,227 |
Interest Rate Swap Agreements |  | Other Noninterest Income |  |  | 4,081 |  |  |  | 1,604 |
Foreign Exchange Contracts |  | Other Noninterest Income |  |  | 274 |  |  |  | 271 |
Total |  |  |  | $ | 5,184 |  |  | $ | 5,875 |

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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 http://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 http://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 http://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 http://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 http://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 http://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 http://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 http://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 http://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 http://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 http://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 http://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959 + Details
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