Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value


	Notional Amount				Derivative Assets				Derivative Liabilities
(in thousands)	March 31, 2022		December 31, 2021		March 31, 2022		December 31, 2021		March 31, 2022		December 31, 2021
Derivatives Designated as Hedging Instruments:
Interest rate swap	$	61,962	$	61,962	$	—	$	—	$	212	$	2,911


Derivatives not Designated as Hedging Instruments:
Interest rate swap	$	922,532	$	918,698	$	7,771	$	12,869	$	7,778	$	12,883



Derivative assets are classified on the balance sheet in other assets. Derivative liabilities are classified on the balance sheet in other liabilities.

The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s financial instruments that are subject to offsetting. The gross amounts of assets or liabilities can be reconciled to the tabular disclosure of fair value. The fair value table above provides the location that financial assets and liabilities are presented on the Balance Sheet.


As of March 31, 2022
							Gross Amounts Not Offset in the Statement of Financial Position
(in thousands)	Gross Amounts Recognized		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets presented in the Statement of Financial Position		Financial Instruments		Fair Value Collateral Received/ Pledged		Net Amount
Assets:
Interest rate swap	$	7,771	$	—	$	7,771	$	1,796	$	4,150	$	1,825

Liabilities:
Interest rate swap	$	7,990	$	—	$	7,990	$	1,796	$	75	$	6,119
Securities sold under agreements to repurchase	207,417		—		207,417		—		207,417		—

As of December 31, 2021
							Gross Amounts Not Offset in the Statement of Financial Position
(in thousands)	Gross Amounts Recognized		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets presented in the Statement of Financial Position		Financial Instruments		Fair Value Collateral Received/ Pledged		Net Amount
Assets:
Interest rate swap	$	12,869	$	—	$	12,869	$	1,033	$	—	$	11,836

Liabilities:
Interest rate swap	$	15,794	$	—	$	15,794	$	1,033	$	14,031	$	730
Securities sold under agreements to repurchase	331,006		—		331,006		—		331,006		—