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Derivative Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of 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, 2023 |  | March 31, 2023
| Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
Derivatives designated as hedging instruments |  |  |  |  |  |  |
Interest rate contracts – cash flow hedges | $ | 50,000 |  |  | $ | 1,418 |  |  | $ | — |  |  | $ | — |
Total derivatives designated as hedging instruments | 50,000 |  |  | 1,418 |  |  | — |  |  | — |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |
Interest rate contracts – fair value hedges | 530,858 |  |  | 33,446 |  |  | 530,858 |  |  | 33,446 |
Mortgage loan contracts | 11,907 |  |  | 37 |  |  | — |  |  | — |
Commitments to originate mortgage loans | 8,775 |  |  | 219 |  |  | — |  |  | — |
Total derivatives not designated as hedging instruments | 551,540 |  |  | 33,702 |  |  | 530,858 |  |  | 33,446 |
Total derivatives | $ | 601,540 |  |  | $ | 35,120 |  |  | $ | 530,858 |  |  | $ | 33,446 |
| Asset Derivatives |  | Liability Derivatives
| December 31, 2022 |  | December 31, 2022
| Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
Derivatives designated as hedging instruments |  |  |  |  |  |  |
Interest rate contracts – cash flow hedges | $ | 50,000 |  |  | $ | 1,976 |  |  | $ | — |  |  | $ | — |
Total derivatives designated as hedging instruments | 50,000 |  |  | 1,976 |  |  | — |  |  | — |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |
Interest rate contracts – fair value hedges | 514,551 |  |  | 42,619 |  |  | 514,551 |  |  | 42,619 |
Mortgage loan contracts | — |  |  | — |  |  | 13,800 |  |  | 50 |
Commitments to originate mortgage loans | 12,179 |  |  | 284 |  |  | — |  |  | — |
Total derivatives not designated as hedging instruments | 526,730 |  |  | 42,903 |  |  | 528,351 |  |  | 42,669 |
Total derivatives | $ | 576,730 |  |  | $ | 44,879 |  |  | $ | 528,351 |  |  | $ | 42,669 |
Schedule of Effect of Derivative Instruments on Condensed Consolidated Statements of Income Derivative in Cash Flow Hedging Relationship | The effect of the derivative instruments on the condensed consolidated statements of comprehensive income for the three–month periods ended March 31 is as follows:
|  |  |  |  | Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative
|  |  | Three Months Ended
|  |  |  |  | March 31, 2023 |  | March 31, 2022
Derivatives in cash flow hedging relationship |  |  |  |  |  |  |
Interest rate contracts |  |  |  |  | $ | (442) |  |  | $ | 2,169 |
Schedule of Effect of the Derivative Designated as a Hedging Instrument on the Consolidated Statements of Income Derivative in Fair Value Hedging Relationship | The effect of the derivative designated as a hedging instrument on the condensed consolidated statements of income for the three–month periods ended March 31 is as follows:
| Location of gain (loss) recognized on derivative |  |  |  |  |  | Amount of Gain (Loss) Recognized on Derivative
|  | Three Months Ended
|  |  |  |  | March 31, 2023 |  | March 31, 2022
Derivative designated as hedging instruments |  |  |  |  |  |  |  |  |
Interest rate contracts – cash flow hedges | Interest expense – Borrowings |  |  |  |  |  | $ | 209 |  |  | $ | (340) |
Total |  |  |  |  |  |  | $ | 209 |  |  | $ | (340) |
The effect of derivatives not designated as hedging instruments on the condensed consolidated statements of income for the three–month periods ended March 31 is as follows:
| Location of gain (loss) recognized on derivative |  |  |  |  |  | Amount of Gain (Loss) Recognized on Derivative
|  | Three Months Ended
|  |  |  |  | March 31, 2023 |  | March 31, 2022
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |
Interest rate contracts – fair value hedge | Interest income – loans receivable |  |  |  |  |  | $ | 120 |  |  | $ | (112) |
Interest rate contracts – fair value hedge | Interest income – investment securities |  |  |  |  |  | 49 |  |  | (65) |
Mortgage loan contracts | Non–interest income – Gain on sale of loans |  |  |  |  |  | 87 |  |  | (348) |
Commitments to originate mortgage loans | Non–interest income – Gain on sale of loans |  |  |  |  |  | (65) |  |  | (675) |
Total |  |  |  |  |  |  | $ | 191 |  |  | $ | (1,200) |

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- Definition 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 https://asc.fasb.org/extlink&oid=125515794&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 https://asc.fasb.org/extlink&oid=125515794&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 https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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