XML 38 R29.htm IDEA: XBRL DOCUMENT
v3.23.1

DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of Fair Value of Derivative Financial Instruments and Classification on the Balance Sheet | The following table summarizes the Corporation's derivatives designated as hedges:
| Asset Derivatives |  | Liability Derivatives
| March 31, 2023 |  | December 31, 2022 |  | March 31, 2023 |  | December 31, 2022
| Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value
Cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps on borrowings | Other Assets |  | $ | 112 |  |  | Other Assets |  | $ | 164 |  |  | Other Liabilities |  | $ | — |  |  | Other Liabilities |  | $ | — |
The table below presents the fair value of the Corporation’s non-designated hedges, as well as their classification on the Balance Sheet, as of March 31, 2023, and December 31, 2022.
| March 31, 2023 |  | December 31, 2022
| Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
Included in other assets: |  |  |  |  |  |  |
Interest rate swaps | $ | 1,279,225 |  |  | $ | 73,757 |  |  | $ | 1,184,866 |  |  | $ | 92,652 |
Forward contracts related to mortgage loans to be delivered for sale | 8,356 |  | 305 |  | 14,406 |  | 188
Interest rate lock commitments | 22,785 |  | 171 |  | 5,049 |  | 32
Included in other assets | $ | 1,310,366 |  |  | $ | 74,233 |  |  | $ | 1,204,321 |  |  | $ | 92,872 |
Included in other liabilities: |  |  |  |  |  |  |
Interest rate swaps | $ | 1,279,225 |  |  | $ | 73,757 |  |  | $ | 1,184,866 |  |  | $ | 92,652 |
Forward contracts related to mortgage loans to be delivered for sale | 22,601 |  | 149 |  | 4,483 |  | 63
Interest rate lock commitments | 2,195 |  | 8 |  | 7,549 |  | 55
Included in other liabilities | $ | 1,304,021 |  |  | $ | 73,914 |  |  | $ | 1,196,898 |  |  | $ | 92,770 |
Summary of Amount of Loss Recognized in Other Comprehensive Income (Loss) | The amount of gain (loss) recognized in other comprehensive income (loss) is included in the table below for the periods indicated.
Derivatives in Cash Flow Hedging Relationships | Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss) on Derivatives (Effective Portion)
Three Months Ended |  |
March 31, 2023 |  | March 31, 2022 |  |  |  |
Interest Rate Products | $ | (51) |  |  | $ | 303 |  |  |  |  |
Summary of Effect of Derivative Financial Instruments on the Income Statement | The amount of gain (loss) reclassified from other comprehensive income (loss) into income related to cash flow hedging relationships is included in the table below for the periods indicated.
Derivatives Designated as Hedging Instruments |  | Location of Gain (Loss) Recognized Income on Derivative |  | Amount of Gain (Loss) Reclassed from Other Comprehensive Income (Loss) into Income (Effective Portion)
|  | Three Months Ended March 31, 2023 |  | Three Months Ended March 31, 2022
Interest rate contracts |  | Interest Expense |  | $ | 1 |  |  | $ | (241) |
The amount of gain (loss) recognized into income related to non-designated hedging instruments is included in the table below for the periods indicated.
Derivatives Not Designated as Hedging Instruments |  | Location of Gain (Loss) Recognized Income on Derivative |  | Amount of Gain (Loss) Recognized Income on Derivative
|  |  |  | Three Months Ended March 31, 2023 |  | Three Months Ended March 31, 2022
Forward contracts related to mortgage loans to be delivered for sale |  | Net gains and fees on sales of loans |  | $ | (46) |  |  | $ | — |
Interest rate lock commitments |  | Net gains and fees on sales of loans |  | 227 |  |  | — |
Total net gain/(loss) recognized in income |  |  |  | $ | 181 |  |  | $ | — |

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 Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C + Details
Name: | us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration