XML 37 R25.htm IDEA: XBRL DOCUMENT v3.22.2

Derivatives (Tables)

6 Months Ended

Jun. 30, 2022

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 June 30, 2022 and December 31, 2021. The Company has a minimum collateral posting threshold with its derivative counterparty. If the Company had breached any provisions under the agreement at June 30, 2022, it could have been required to settle its obligations under the agreement at the termination value.

						June 30, 2022																		December 31, 2021
(dollars in thousands)						Notional Amount						Fair Value						Balance Sheet Category						Notional Amount						Fair Value						Balance Sheet Category
Derivatives not designated as hedging instruments in an asset position
Interest rate product						$	255,691					$	18,589					Other assets						$	272,825					$	5,273					Other assets
Mortgage banking derivatives						31,444						254						Other assets						56,331						636						Other assets
						$	287,135					$	18,843											$	329,156					$	5,909
Derivatives not designated as hedging instruments in a liability position
Interest rate product						$	255,691					$	17,662					Other liabilities						$	272,825					$	5,223					Other liabilities
Mortgage banking derivatives						12,000						20						Other liabilities						—						—						Other liabilities
Credit risk participation agreements						26,162						11						Other liabilities						26,417						47						Other liabilities
						$	293,853					17,693												$	299,242					5,270
Cash and other collateral posted												(2,270)																		(2,930)
Net derivatives in a liability position												$	15,423																	$	2,340

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 six months ended June 30, 2022 and 2021:

The Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income
						Amount of Gain (Loss) Recognized																		Amount of Gain (Loss) Reclassified
Derivatives in Subtopic						in OCI on Derivatives												Location of						from AOCI into Net Income
815-20 Hedging Relationships						Three Months Ended June 30,												Gain (Loss) Recognized						Three Months Ended June 30,
(dollars in thousands)						2022						2021						from AOCI into Net Income						2022						2021
Derivatives in cash flow hedging relationships
Interest rate products						$	—					$	—					Interest Expense						$	—					$	(60)
						Amount of Gain (Loss) Recognized																		Amount of Gain (Loss) Reclassified
Derivatives in Subtopic						in OCI on Derivative												Location of						from AOCI into Net Income
815-20 Hedging Relationships						Six Months Ended June 30,												Gain (Loss) Recognized						Six Months Ended June 30,
(dollars in thousands)						2022						2021						from AOCI into Net Income						2022						2021
Derivatives in cash flow hedging relationships
Interest rate products						$	—					$	(844)					Interest Expense						$	—					$	(445)

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 six months ended June 30, 2022 and 2021:

The Effect of Fair Value and Cash Flow Hedge Accounting on the Consolidated Statements of Income
						Amount of Gain (Loss) Recognized in Interest Expense on
						Fair Value and Cash Flow Hedging Relationships
						Three Months Ended June 30,												Six Months Ended June 30,
(dollars in thousands)						2022						2021						2022						2021
Total amounts of income and expense line items presented in the consolidated statements of income in which the effects of fair value or cash flow hedges are recorded						$	—					$	(60)					$	—					$	(445)
Gain or (loss) on cash flow hedging relationships in Subtopic 815-20
Interest contracts
Amount of gain (loss) reclassified from AOCI into income						$	—					$	(60)					$	—					$	(445)
Amount of gain (loss) reclassified from AOCI into income - included component						$	—					$	(60)					$	—					$	(445)

Effect of Derivatives Not Designated as Hedging Instruments in the Consolidated Statements of Income
												Amount of Gain (Loss) Recognized in Income on Derivatives
						Location of Gain (Loss) Recognized						Three Months Ended June 30,												Six Months Ended June 30,
						in Income on Derivatives						2022						2021						2021						2020
Interest rate products						Other income / (other expense)						$	334					$	(299)					$	585					$	(16)
Mortgage banking derivatives						Gain on sale of loans						(299)						1,179						(529)						3,693
Other contracts						Other income / (other expense)						—						4						—						44
Total												$	35					$	884					$	56					$	3,721

X

- References

No definition available.

+ Details

Name:	us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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

+ Details

Name:	us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration