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Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Values of Derivative Instruments on the Balance Sheet
The following tables disclose the fair value of derivative instruments in the Company's balance sheets at June 30, 2022, and December 31, 2021, as well as the effect of these derivative instruments on the Company's consolidated statements of income for the six months ended June 30, 2022 and 2021.
Notional Amounts(1)
Fair Values
(Dollars in thousands)
Derivatives designated as cash flow hedging instruments:
June 30, 2022December 31, 2021June 30, 2022December 31, 2021
Interest rate swaps included in other assets$10,500 $21,000 $690 $(103)
Derivatives not designated as hedging instruments:
Interest rate swaps included in other assets$314,471 $315,188 $15,724 $10,417 
Interest rate swaps included in other liabilities
302,596 327,510 (15,629)(10,762)
Risk participation derivatives included in accrued expenses and other liabilities on the consolidated balance sheets63,374 63,374 — (2)
Forward commitments to purchase mortgage-backed securities included in other liabilities25,000 80,000 (195)(627)
Forward commitments to sell residential mortgage loans included in other assets44,000 52,000 75 1 
Interest rate-lock commitments on residential mortgage loans included in other assets
37,497 36,694 839 1,041 
$786,938 $874,766 $814 $68 
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(1)Notional or contractual amounts, which represent the extent of involvement in the derivatives market, are used to determine the contractual cash flows required in accordance with the terms of the agreement. These amounts are typically not exchanged, significantly exceed amounts subject to credit or market risk and are not reflected in the consolidated balance sheets.
Weighted-average Rates Paid and Received for Interest Rate Swaps
The weighted-average rates paid and received for interest rate swaps at June 30, 2022, were as follows:
Weighted-Average Interest Rate
Interest rate swaps:PaidReceived
Cash flow hedges3.14 %2.96 %
Non-hedging interest rate swaps - financial institution counterparties4.26 3.45 
Non-hedging interest rate swaps - customer counterparties3.46 4.26 
Gains and Losses Recognized on Derivative Instruments Not Designated as Hedging Instruments
Gains and losses recognized on derivative instruments not designated as hedging instruments are as follows:
(Dollars in thousands)Three Months Ended June 30,Six Months Ended June 30,
Derivatives not designated as hedging instruments:2022202120222021
Amount of gain (loss) recognized in mortgage banking revenue (1)
$187 $(281)$(2,220)$(1,487)
Amount of gain recognized in other non-interest income154 27 440 334 
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(1)Gains and losses on these instruments are largely offset by market fluctuations in mortgage servicing rights. See Note 6 - Mortgage Banking for more information on components of mortgage banking revenue.