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Derivatives (Tables)

3 Months Ended

Mar. 31, 2023

Derivatives

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


				Asset derivatives fair value								Liability derivatives fair value
		Balance Sheet		March 31,			December 31,			Balance Sheet		March 31,			December 31,
		location		2023			2022			Location		2023			2022
Derivatives designated as hedging instruments:
Interest rate products		Other assets		$	27,711		$	34,164		Other liabilities		$	2,142		$	1,929
Total derivatives designated as hedging instruments				$	27,711		$	34,164				$	2,142		$	1,929

Derivatives not designated as hedging instruments:
Interest rate products		Other assets		$	7,892		$	10,657		Other liabilities		$	7,900		$	10,660
Interest rate lock commitments		Other assets			674			197		Other liabilities			48			174
Forward contracts		Other assets			33			210		Other liabilities			270			104
Total derivatives not designated as hedging instruments				$	8,599		$	11,064				$	8,218		$	10,938

Derivative Instruments, Gain (Loss)


		Location of gain (loss)		Amount of (loss) gain recognized in income on derivatives
Derivatives in fair value		recognized in income on		For the three months ended March 31,
hedging relationships		derivatives		2023			2022
Interest rate products		Interest and fees on loans		$	(5,491)		$	18,596


		Location of gain (loss)		Amount of gain (loss) recognized in income on hedged items
		recognized in income on		For the three months ended March 31,
Hedged items		hedged items		2023			2022
Interest rate products		Interest and fees on loans		$	7,310		$	(20,220)


		Location of gain (loss)		Amount of (loss) gain recognized in income on derivatives
Derivatives not designated		recognized in income on		For the three months ended March 31,
as hedging instruments		derivatives		2023			2022
Interest rate products		Other non-interest expense		$	(6)		$	5
Interest rate lock commitments		Mortgage banking income			640			(1,086)
Forward contracts		Mortgage banking income			(344)			2,711
Total				$	290		$	1,630

Summary of effect of fair value cash flow hedge accounting on accumulated other comprehensive income

The table below presents the effect of fair value cash flow hedge accounting on AOCI as of the dates presented. The Company did not utilize cash flow hedges until the third quarter of 2022.


		For the three months ended March 31, 2023
			Gain recognized in OCI on derivative			Gain recognized in OCI included component			Gain recognized in OCI excluded component		Location of Loss recognized from AOCI into income			Loss reclassified from AOCI into income			Loss reclassified from AOCI into income included component			Loss reclassified from AOCI into income excluded component
Derivatives in cash flow hedging relationships:
Interest rate products		$	616		$	399		$	217		Interest income		$	(262)		$	(162)		$	(100)