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Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Financial Instruments

The following tables summarize the fair value of derivative financial instruments utilized by Horizon:

			Asset Derivatives																		Liability Derivatives
			June 30, 2020																		June 30, 2020
			Balance Sheet Location						Fair Value						Balance Sheet Location						Fair Value
Derivatives designated as hedging instruments
Interest rate contracts			Other assets						$	42,378					Other liabilities						$	50,917
Total derivatives designated as hedging instruments									42,378												50,917
Derivatives not designated as hedging instruments
Mortgage loan contracts			Other assets						590						Other liabilities						—
Total derivatives not designated as hedging instruments									590												—
Total derivatives									$	42,968											$	50,917

			Asset Derivatives																		Liability Derivatives
			December 31, 2019																		December 31, 2019
			Balance Sheet Location						Fair Value						Balance Sheet Location						Fair Value
Derivatives designated as hedging instruments
Interest rate contracts			Other assets						$	11,422					Other liabilities						$	15,861
Total derivatives designated as hedging instruments									11,422												15,861
Derivatives not designated as hedging instruments
Mortgage loan contracts			Other assets						264						Other liabilities						38
Total derivatives not designated as hedging instruments									264												38
Total derivatives									$	11,686											$	15,899

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The effect of the derivative instruments on the condensed consolidated statements of income for the three-month and six-month periods ending June 30 is as follows:

			Amount of Loss Recognized in Other Comprehensive Income on Derivative (Effective Portion)
			Three Months Ended																		Six Months Ended
			June 30, 2020						June 30, 2019						June 30, 2020						June 30, 2019
Derivatives in cash flow hedging relationship
Interest rate contracts			$	(107)					$	(1,502)					$	(3,239)					$	(2,376)

Effect of Derivative Instruments on Consolidated Statement of Income Derivative in Fair Value Hedging Relationship

			Location of gain (loss) recognized on derivative						Amount of Gain (Loss) Recognized on Derivative
																		Three Months Ended																		Six Months Ended
															June 30, 2020						June 30, 2019						June 30, 2020						June 30, 2019
Derivative in fair value hedging relationship
Interest rate contracts			Interest income - loans						$	(3,162)					$	(7,529)					$	(29,492)					$	(11,580)
Interest rate contracts			Interest income - loans						3,162						7,529						29,492						11,580
Total									$	—					$	—					$	—					$	—

			Location of gain (loss) recognized on derivative						Amount of Gain (Loss) Recognized on Derivative
																		Three Months Ended																		Six Months Ended
															June 30, 2020						June 30, 2019						June 30, 2020						June 30, 2019
Derivative not designated as hedging relationship
Mortgage contracts			Other income - gain on sale of loans						$	(679)					$	75					$	364					$	332

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Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (c)
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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959

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Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

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-SubTopic 10
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