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Derivative Financial Instruments (Tables)

9 Months Ended

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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