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Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2021

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
			March 31, 2021												March 31, 2021
			Balance Sheet Location						Fair Value						Balance Sheet Location						Fair Value
Derivatives designated as hedging instruments
Interest rate contracts			Other assets						$	17,864					Other liabilities						$	23,053
Total derivatives designated as hedging instruments									17,864												23,053
Derivatives not designated as hedging instruments
Mortgage loan contracts			Other assets						504						Other liabilities						701
Total derivatives not designated as hedging instruments									504												701
Total derivatives									$	18,368											$	23,754

			Asset Derivatives												Liability Derivatives
			December 31, 2020												December 31, 2020
			Balance Sheet Location						Fair Value						Balance Sheet Location						Fair Value
Derivatives designated as hedging instruments
Interest rate contracts			Other assets						$	35,388					Other liabilities						$	43,631
Total derivatives designated as hedging instruments									35,388												43,631
Derivatives not designated as hedging instruments
Mortgage loan contracts			Other assets						1,045						Other liabilities						—
Total derivatives not designated as hedging instruments									1,045												—
Total derivatives									$	36,433											$	43,631

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 periods ending March 31 is as follows:

			Amount of Loss Recognized in Other Comprehensive Income on Derivative (Effective Portion)
			Three Months Ended
			March 31, 2021						March 31, 2020
Derivatives in cash flow hedging relationship
Interest rate contracts			$	2,412					$	(3,132)

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
									March 31, 2021						March 31, 2020
Derivative in fair value hedging relationship
Interest rate contracts			Interest income - loans						$	17,525					$	(26,330)
Interest rate contracts			Interest income - loans						(17,525)						26,330
Total									$	—					$	—

Location of gain (loss) recognized on derivative

Amount of Gain (Loss) Recognized on Derivative

Three Months Ended

March 31, 2021

March 31, 2020

Derivative not designated as hedging relationship

Mortgage contracts

Other income - gain on sale of loans

$

(1,241)

$

1,043

X

- References

No definition available.

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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)
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959

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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=121590274&loc=SL5624181-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959

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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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959

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