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Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of amounts of non-hedging derivative financial instruments

The following table shows the amounts of non-hedging derivative financial instruments.

												Asset derivatives												Liability derivatives
(Dollars in thousands)						Notional or contractual amount						Statement of Financial Condition classification						Fair value						Statement of Financial Condition classification						Fair value
September 30, 2022
Interest rate swap contracts						$	947,564					Other assets						$	26,918					Other liabilities						$	27,424
Loan commitments						1,460						Mortgages held for sale						28						N/A						—
Forward contracts - mortgage loan						2,250						Mortgages held for sale						82						N/A						—
Total						$	951,274											$	27,028											$	27,424
December 31, 2021
Interest rate swap contracts						$	1,064,721					Other assets						$	20,735					Other liabilities						$	21,172
Loan commitments						15,086						Mortgages held for sale						452						N/A						—
Forward contracts - mortgage loan						22,000						N/A						—						Mortgages held for sale						11
Total						$	1,101,807											$	21,187											$	21,183

Schedule of amounts included in the consolidated statements of income for non-hedging derivative financial instruments

The following table shows the amounts included in the Consolidated Statements of Income for non-hedging derivative financial instruments.

												Gain (loss)
												Three Months Ended September 30,												Nine Months Ended September 30,
(Dollars in thousands)						Statement of Income classification						2022						2021						2022						2021
Interest rate swap contracts						Other expense						$	(252)					$	101					$	(69)					$	420
Interest rate swap contracts						Other income						83						69						83						307
Loan commitments						Mortgage banking						(197)						(75)						(424)						(704)
Forward contracts - mortgage loan						Mortgage banking						83						246						93						512
Total												$	(283)					$	341					$	(317)					$	535

Schedule of offsetting of financial assets and derivative assets

The following table shows the offsetting of financial assets and derivative assets.

																								Gross Amounts Not Offset in the Statement of Financial Condition
(Dollars in thousands)						Gross Amounts of Recognized Assets						Gross Amounts Offset in the Statement of Financial Condition						Net Amounts of Assets Presented in the Statement of Financial Condition						Financial Instruments						Cash Collateral Received						Net Amount
September 30, 2022
Interest rate swaps						$	26,918					$	—					$	26,918					$	—					$	25,735					$	1,183
December 31, 2021
Interest rate swaps						$	24,436					$	3,701					$	20,735					$	—					$	—					$	20,735

Schedule of offsetting of financial liabilities and derivative liabilities

The following table shows the offsetting of financial liabilities and derivative liabilities.

																								Gross Amounts Not Offset in the Statement of Financial Condition
(Dollars in thousands)						Gross Amounts of Recognized Liabilities						Gross Amounts Offset in the Statement of Financial Condition						Net Amounts of Liabilities Presented in the Statement of Financial Condition						Financial Instruments						Cash Collateral Pledged						Net Amount
September 30, 2022
Interest rate swaps						$	27,424					$	—					$	27,424					$	—					$	—					$	27,424
Repurchase agreements						130,192						—						130,192						130,192						—						—
Total						$	157,616					$	—					$	157,616					$	130,192					$	—					$	27,424
December 31, 2021
Interest rate swaps						$	24,873					$	3,701					$	21,172					$	20,498					$	—					$	674
Repurchase agreements						194,727						—						194,727						194,727						—						—
Total						$	219,600					$	3,701					$	215,899					$	215,225					$	—					$	674

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Tabular disclosure of derivative and other financial assets that are subject to offsetting, including master netting arrangements.

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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.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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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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