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Derivatives (Tables)

3 Months Ended

Mar. 31, 2024

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		2024			2023			Location		2024			2023
Derivatives designated as hedging instruments:
Interest rate products		Other assets		$	32,559		$	28,928		Other liabilities		$	2,984		$	3,400
Total derivatives designated as hedging instruments				$	32,559		$	28,928				$	2,984		$	3,400

Derivatives not designated as hedging instruments:
Interest rate products		Other assets		$	9,477		$	8,480		Other liabilities		$	9,714		$	8,484
Interest rate lock commitments		Other assets			525			287		Other liabilities			—			5
Forward contracts		Other assets			2			—		Other liabilities			68			110
Total derivatives not designated as hedging instruments				$	10,004		$	8,767				$	9,782		$	8,599

Derivative Instruments, Gain (Loss)


		Location of gain (loss)		Amount of gain (loss) recognized in income on derivatives
Derivatives in fair value		recognized in income on		For the three months ended March 31,
hedging relationships		derivatives		2024			2023
Interest rate products		Interest and fees on loans		$	8,580		$	(5,491)


		Location of gain (loss)		Amount of (loss) gain recognized in income on hedged items
		recognized in income on		For the three months ended March 31,
Hedged items		hedged items		2024			2023
Interest rate products		Interest and fees on loans		$	(6,548)		$	7,310


		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		2024			2023
Interest rate products		Other non-interest expense		$	(232)		$	(6)
Interest rate lock commitments		Mortgage banking income			332			640
Forward contracts		Mortgage banking income			44			(344)
Total				$	144		$	290

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

The table below presents the effect of cash flow hedge accounting on AOCI as of the dates presented.


		For the three months ended March 31, 2024
			Loss recognized in OCI on derivatives			Loss recognized in OCI included component			Loss 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		$	(1,427,601)		$	(1,002,237)		$	(425,364)		Interest income		$	(512,826)		$	(395,034)		$	(117,792)


		For the three months ended March 31, 2023
			Gain recognized in OCI on derivatives			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)