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Other Derivatives (Tables)

9 Months Ended

Sep. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of balance sheet category and fair values of the derivative instruments

The table below identifies the balance sheet category and fair value of the Company’s designated cash flow hedge derivative instruments and non-designated hedges as of September 30, 2021 and December 31, 2020. The Company has a minimum collateral posting threshold with its derivative counterparty. If the Company had breached any provisions under the agreement at September 30, 2021, it could have been required to settle its obligations under the agreement at the termination value.

						September 30, 2021																		December 31, 2020
(dollars in thousands)						Notional Amount						Fair Value						Balance Sheet Category						Fair Value						Balance Sheet Category
Derivatives not designated as hedging instruments
Interest rate product						$	239,248					$	4,955					Other Assets						$	3,491					Other Assets
Mortgage banking derivatives						137,223						1,575						Other Assets						5,213						Other Assets
						$	376,471					$	6,530					Other Assets						$	8,704					Other Assets
Derivatives designated as hedging instruments
Interest rate product						$	—					$	—					Other Liabilities						$	516					Other Liabilities
Derivatives not designated as hedging instruments
Interest rate product						$	239,248					$	5,110					Other Liabilities						$	3,653					Other Liabilities
Other Contracts						26,542						63						Other Liabilities						118						Other Liabilities
						$	265,790					$	5,173					Other Liabilities						$	3,771					Other Liabilities
Liability position on balance sheet												$	5,173											$	4,287
Cash and other collateral												$	3,244											4,168
Net Derivative Amounts												$	1,929											$	119

Schedule of pretax net gains (losses) of designated cash flow hedges

The table below presents the pre-tax net gains (losses) of the Company’s designated cash flow hedges for the three and nine months ended September 30, 2021 and 2020:

The Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income
						Amount of Gain (Loss) Recognized												Location of Gain or (Loss)						Amount of Gain or (Loss)
																		Recognized from						Reclassified from Accumulated
Derivatives in Subtopic						in OCI on Derivative												Accumulated Other						OCI into Income
815-20 Hedging						Three Months Ended September 30,												Comprehensive Income into						Three Months Ended September 30,
Relationships (dollars in thousands)						2021						2020						Income						2021						2020
Derivatives in Cash Flow Hedging Relationships
Interest Rate Products						$	—					$	31					Interest Expense						$	—					$	(389)
Total						$	—					$	31											$	—					$	(389)
																		Location of Gain or (Loss)						Amount of Gain or (Loss)
						Amount of Gain (Loss) Recognized												Recognized from						Reclassified from Accumulated
Derivatives in Subtopic						in OCI on Derivative												Accumulated Other						OCI into Income
815-20 Hedging						Nine Months Ended September 30,												Comprehensive Income into						Nine Months Ended September 30,
Relationships (dollars in thousands)						2021						2020						Income						2021						2020
Derivatives in Cash Flow Hedging Relationships
Interest Rate Products						$	1					$	(1,517)					Interest Expense						$	(445)					$	(755)
Total						$	1					$	(1,517)											$	(445)					$	(755)

Schedule of the effect of derivative financial instruments on the Consolidated Statements of Operations

The table below presents the effect of the Company’s derivative financial instruments on the Consolidated Statements of Income for the three and nine months ended September 30, 2021 and 2020:

The Effect of Fair Value and Cash Flow Hedge Accounting on the Statements of Income
						Location and Amount of Gain or (Loss) Recognized in Income on
						Fair Value and Cash Flow Hedging Relationships (in 000's)
						Three Months Ended September 30,												Nine Months Ended September 30,
						2021						2020						2021						2020
						Interest Expense												Interest Expense
Total amounts of income and expense line items presented in the consolidated statement of income in which the effects of fair value or cash flow hedges are recorded						$	—					$	(389)					$	(445)					$	(755)
Gain or (loss) on cash flow hedging relationships in Subtopic 815-20
Interest contracts
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income						$	—					$	(389)					$	(445)					$	(755)
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income as a result that a forecasted transaction is no longer probable of occurring						$	—					$	—					$	—					$	—
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income - Included Component						$	—					$	(389)					$	(445)					$	(755)
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income - Excluded Component						$	—					$	—					$	—					$	—

Effect of Derivatives Not Designated as Hedging Instruments on the Statements of Income
												Amount of Income (Loss)
												Recognized in Income on
						Location of						Derivative
Derivatives Not Designated as Hedging						(Loss) Recognized in						Three Months Ended September 30,												Nine Months Ended September 30,
Instruments under Subtopic 815-20						Income on Derivative						2021						2020						2021						2020
Interest Rate Products						Other income / (expense)						$	277					$	(40)					$	261					$	(326)
Mortgage banking derivatives						Other income / (expense)						1,575						6,015						5,268						6,015
Other Contracts						Other income / (expense)						—						(13)						44						(77)
Total												$	1,852					$	5,962					$	5,573					$	5,612

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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.

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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

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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