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Derivative Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 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
| June 30, 2023 |  | June 30, 2023
| Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
Derivatives designated as hedging instruments |  |  |  |  |  |  |
Interest rate contracts – cash flow hedges | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total derivatives designated as hedging instruments | — |  |  | — |  |  | — |  |  | — |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |
Interest rate contracts – fair value hedges | 523,396 |  |  | 39,146 |  |  | 523,396 |  |  | 39,146 |
Mortgage loan contracts | — |  |  | — |  |  | 15,198 |  |  | 18 |
Commitments to originate mortgage loans | 5,486 |  |  | 131 |  |  | — |  |  | — |
Total derivatives not designated as hedging instruments | 528,882 |  |  | 39,277 |  |  | 538,594 |  |  | 39,164 |
Total derivatives | $ | 528,882 |  |  | $ | 39,277 |  |  | $ | 538,594 |  |  | $ | 39,164 |
| 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 and six–month periods ended June 30 is as follows:
| Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative
| Three Months Ended |  | Six Months Ended
| June 30, 2023 |  | June 30, 2022 |  | June 30, 2023 |  | June 30, 2022
Derivatives in cash flow hedging relationship |  |  |  |  |  |  |
Interest rate contracts | $ | (1,119) |  |  | $ | 824 |  |  | $ | (1,561) |  |  | $ | 2,993 |
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 and six–month periods ended June 30 is as follows:
| Location of gain (loss) recognized on derivative |  | Amount of Gain (Loss) Recognized on Derivative
Three Months Ended |  | Six Months Ended
| June 30, 2023 |  | June 30, 2022 |  | June 30, 2023 |  | June 30, 2022
Derivative designated as hedging instruments |  |  |  |  |  |  |  |  |
Interest rate contracts – cash flow hedges | Interest expense – Borrowings |  | $ | 1,624 |  |  | $ | (275) |  |  | $ | 1,832 |  |  | $ | (615) |
Total |  |  | $ | 1,624 |  |  | $ | (275) |  |  | $ | 1,832 |  |  | $ | (615) |
The effect of derivatives not designated as hedging instruments on the condensed consolidated statements of income for the three and six–month periods ended June 30 is as follows:
| Location of gain (loss) recognized on derivative |  | Amount of Gain (Loss) Recognized on Derivative
Three Months Ended |  | Six Months Ended
| June 30, 2023 |  | June 30, 2022 |  | June 30, 2023 |  | June 30, 2022
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |
Interest rate contracts – fair value hedge | Interest income – loans receivable |  | $ | 314 |  |  | $ | (52) |  |  | $ | 434 |  |  | $ | (164) |
Interest rate contracts – fair value hedge | Interest income – investment securities |  | 61 |  |  | (47) |  |  | 110 |  |  | (112) |
Mortgage loan contracts | Non–interest income – Gain on sale of loans |  | (119) |  |  | 434 |  |  | (32) |  |  | 87 |
Commitments to originate mortgage loans | Non–interest income – Gain on sale of loans |  | (88) |  |  | (81) |  |  | (153) |  |  | (756) |
Total |  |  | $ | 168 |  |  | $ | 254 |  |  | $ | 359 |  |  | $ | (945) |

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