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Derivative Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Interest Rate Swaps Related to Hedging Program | At September 30, 2022 and December 31, 2021, interest rate swaps related to the Company’s loan hedging program that were outstanding are presented in the following table:
|  | September 30, 2022 |  | December 31, 2021
|  | (Dollars in thousands)
Interest rate swaps on loans with correspondent banks (included in other assets) |  |  |  |
Notional amount |  | $ | 988,492 |  |  | $ | 148,199 |
Weighted average remaining term (years) |  | 5.2 |  | 7.2
Pay fixed rate (weighted average) |  | 2.73 | % |  | 2.92 | %
Received variable rate (weighted average) |  | 3.94 | % |  | 2.08 | %
Estimated fair value |  | $ | 74,803 |  |  | $ | 3,001 |
Interest rate swaps on loans with correspondent banks (included in other liabilities) |  |  |  |
Notional amount |  | $ | 15,969 |  |  | $ | 440,486 |
Weighted average remaining term (years) |  | 10.0 |  | 6.1
Pay fixed rate (weighted average) |  | 5.46 | % |  | 4.03 | %
Received variable rate (weighted average) |  | 4.56 | % |  | 2.20 | %
Estimated fair value |  | $ | (50) |  |  | $ | (14,906) |
Back to back interest rate swaps with loan customers (included in other liabilities) |  |  |  |
Notional amount |  | $ | 988,492 |  |  | $ | 148,199 |
Weighted average remaining term (years) |  | 5.2 |  | 7.2
Received fixed rate (weighted average) |  | 2.73 | % |  | 2.92 | %
Pay variable rate (weighted average) |  | 3.94 | % |  | 2.08 | %
Estimated fair value |  | $ | (74,803) |  |  | $ | (3,001) |
Back to back interest rate swaps with loan customers (included in other assets) |  |  |  |
Notional amount |  | $ | 15,969 |  |  | $ | 440,486 |
Weighted average remaining term (years) |  | 10.0 |  | 6.1
Received fixed rate (weighted average) |  | 5.46 | % |  | 4.03 | %
Pay variable rate (weighted average) |  | 4.56 | % |  | 2.20 | %
Estimated fair value |  | $ | 50 |  |  | $ | 14,906 |
Schedule of Derivative Instruments |
|  | September 30, 2022 |  | December 31, 2021
|  | (Dollars in thousands)
Interest rate swaps designated as cash flow hedge (included in other assets) |  |  |  |
Notional amount |  | $ | 100,000 |  |  | $ | 100,000 |
Weighted average remaining term (years) |  | 2.5 |  | 3.3
Received variable rate (weighted average) |  | 2.74 | % |  | 0.12 | %
Pay fixed rate (weighted average) |  | 0.49 | % |  | 0.49 | %
Estimated fair value |  | $ | 9,161 |  |  | $ | 2,291 |
The following table reflects the notional amount and fair value of mortgage banking derivatives for the dates indicated:
| September 30, 2022 |  | December 31, 2021
| Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
| (Dollars in thousands)
Assets: |  |  |  |  |  |  |
Interest rate lock commitments | $ | 468 |  |  | $ | 1 |  |  | $ | 16,518 |  |  | $ | 230 |
Forward sale contracts related to mortgage banking | 1,000 |  |  | 41 |  |  | 6,392 |  |  | 17 |
Liabilities: |  |  |  |  |  |  |
Interest rate lock commitments | $ | 1,220 |  |  | $ | (39) |  |  | $ | 907 |  |  | $ | (2) |
Forward sale contracts related to mortgage banking | 500 |  |  | (3) |  |  | 25,305 |  |  | (74) |

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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=125515794&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959 + Details
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