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Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Value of Derivative Assets and Derivative Liabilities

The following table indicates the amounts representing the value of derivative assets and derivative liabilities for the dates presented:

			Derivative Assets (Included in Other Assets)																		Derivative Liabilities (Included in Other Liabilities)
			June 30, 2022									December 31, 2021									June 30, 2022									December 31, 2021
(dollars in thousands)			Notional  Amount			Fair Value						Notional Amount			Fair Value						Notional  Amount			Fair  Value						Notional  Amount			Fair  Value
Derivatives Designated as Hedging Instruments
Interest rate swap contracts - cash flow hedge (1)			$	50,000		$	368								$	—					$	250,000		$	5,946								$	—
Total Derivatives Designated as Hedging Instruments						$	368								$	—								$	5,946								$	—
Derivatives Not Designated as Hedging Instruments
Interest rate swap contracts - commercial loans			$	1,039,932		$	51,097					$	1,017,178		$	33,528					$	1,039,932		$	51,193					$	1,017,178		$	33,361
Interest rate lock commitments - mortgage loans			2,062			56						12,148			401						—			—						—			—
Forward sales contracts - mortgage loans			—			—						8,436			4						645			2						—			—
Total Derivatives Not Designated as Hedging Instruments						$	51,153								$	33,933								$	51,195								$	33,361
Total Derivatives						$	51,521								$	33,933								$	57,141								$	33,631
(1) Derivative assets and derivative liabilities include interest receivable of $0.6 million and $0.2 million as of June 30,2022.

Schedule of Interest Rate Derivatives

The following table indicates the gross amounts of interest rate swap derivative assets and derivative liabilities, the amounts offset and the carrying values in the Consolidated Balance Sheets at the dates presented:

			Derivatives (included in Other Assets)												Derivatives (included in Other Liabilities)
(dollars in thousands)			June 30, 2022						December 31, 2021						June 30, 2022						December 31, 2021
Gross amounts recognized			$	52,493					$	37,289					$	58,192					$	37,392
Gross amounts offset			(1,028)						(3,761)						(1,053)						(3,761)
Net amounts presented in the Consolidated Balance Sheets			51,465						33,528						57,139						33,631
Cash collateral received/pledged(1)			(43,543)						—						—						(33,631)
Net Amount			$	7,922					$	33,528					$	57,139					$	—
(1) Cash collateral represents the amount that cannot be used to offset our derivative assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The application of the cash collateral cannot reduce the net derivative position below zero. Therefore, excess cash collateral, if any, is not reflected above.

Schedule of Effect of Cash Flow Hedges

The following table presents the effect of the cash flow hedges on OCI and on the Condensed Consolidated Statements of Comprehensive Income (Loss) for the three month periods presented:

			Amount of Gain or (Loss) Recognized in Other Comprehensive Income																		Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Interest Income
(dollars in thousands)			June 30, 2022									June 30, 2021									June 30, 2022									June 30, 2021
Derivatives in Cash Flow Hedging Relationships:
Interest rate swap contracts - cash flow hedge						$	(3,271)								$	—								$	786								$	—
Total						$	(3,271)								$	—								$	786								$	—

The following table presents the effect of the cash flow hedges on OCI and on the Condensed Consolidated Statements of Comprehensive Income (Loss) for the six month periods presented:

			Amount of Gain or (Loss) Recognized in Other Comprehensive Income																		Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Interest Income
(dollars in thousands)			June 30, 2022									June 30, 2021									June 30, 2022									June 30, 2021
Derivatives in Cash Flow Hedging Relationships:
Interest rate swap contracts - cash flow hedge						$	(5,872)								$	—								$	922								$	—
Total						$	(5,872)								$	—								$	922								$	—

Schedule of Amount of Gain or Loss Recognized in Income on Derivatives

The following table indicates the gain or loss recognized in income on derivatives not designated as hedging instruments for the periods presented:

			Three months ended June 30,																		Six months ended June 30,
(dollars in thousands)			2022									2021									2022									2021
Derivatives not Designated as Hedging Instruments
Interest rate swap contracts—commercial loans						$	(61)								$	5								$	7								$	315
Interest rate lock commitments—mortgage loans						(129)									(883)									(346)									(2,642)
Forward sale contracts—mortgage loans						(194)									194									(5)									1,173
Total Derivatives (Loss) Gain						$	(384)								$	(684)								$	(344)								$	(1,154)

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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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
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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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Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments.

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