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Derivative and Hedging Activities (Tables) | 12 Months Ended
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Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statements of Financial Condition as of December 31, 2020 and 2019 (in thousands):
|  | At December 31, 2020
|  | Asset Derivatives |  | Liability Derivatives
|  | Consolidated Statements of Financial Condition |  | Fair Value |  | Consolidated Statements of Financial Condition |  | Fair Value
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |
Interest rate products |  | Other assets |  | $ | 107,652 |  |  | Other liabilities |  | $ | 109,148 |
Credit contracts |  | Other assets |  | 97 |  |  | Other liabilities |  | — |
Total derivatives not designated as hedging instruments |  |  |  | $ | 107,749 |  |  |  |  | $ | 109,148 |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |
Interest rate products |  | Other assets |  | $ | (6,671) |  |  | Other liabilities |  | $ | — |
Total derivatives designated as hedging instruments |  |  |  | $ | (6,671) |  |  |  |  | $ | — |
|  | At December 31, 2019
|  | Asset Derivatives |  | Liability Derivatives
|  | Consolidated Statements of Financial Condition |  | Fair Value |  | Consolidated Statements of Financial Condition |  | Fair Value
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |
Interest rate products |  | Other assets |  | $ | 38,830 |  |  | Other liabilities |  | $ | 39,356 |
Credit contracts |  | Other assets |  | 47 |  |  | Other liabilities |  | — |
Total derivatives not designated as hedging instruments |  |  |  | $ | 38,877 |  |  |  |  | $ | 39,356 |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |
Interest rate products |  | Other assets |  | $ | 428 |  |  | Other liabilities |  | $ | — |
Total derivatives designated as hedging instruments |  |  |  | $ | 428 |  |  |  |  | $ | — |
Derivative Instruments, Gain (Loss) | The table below presents the effect of the Company’s derivative financial instruments on the Consolidated Statements of Income for the years ended December 31, 2020, 2019 and 2018 (in thousands).
|  |  |  | Gain (loss) recognized in Income on derivatives
|  |  |  | For the Year Ended December 31,
|  | Consolidated Statements of Income |  | 2020 |  | 2019 |  | 2018
Derivatives not designated as a hedging instruments: |  |  |  |  |  |  |  |
Interest rate products |  | Other income |  | $ | (950) |  |  | (64) |  |  | (414) |
Credit contracts |  | Other income |  | 30 |  |  | (53) |  |  | 63 |
Total derivatives not designated as hedging instruments |  |  |  | $ | (920) |  |  | (117) |  |  | (351) |
Derivatives designated as a hedging instruments: |  |  |  | Loss (gain) recognized in Expense on derivatives
Interest rate products |  | Interest expense |  | $ | 1,741 |  |  | (624) |  |  | 312 |
Total derivatives designated as a hedging instruments |  |  |  | $ | 1,741 |  |  | (624) |  |  | 312 |

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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=121590274&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=121590274&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=121590274&loc=SL5624171-113959 + Details
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- Definition 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. + 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=121590274&loc=SL5624163-113959 + Details
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