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Derivatives (Tables) | 9 Months Ended
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Sep. 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 September 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 September 30, 2022, it could have been required to settle its obligations under the agreement at the termination value.
|  | September 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 |  | $ | 316,161 |  |  | $ | 30,635 |  |  | Other assets |  | $ | 272,825 |  |  | $ | 5,273 |  |  | Other assets
Mortgage banking derivatives |  | 8,000 |  |  | 259 |  |  | Other assets |  | 56,331 |  |  | 636 |  |  | Other assets
|  | $ | 324,161 |  |  | $ | 30,894 |  |  |  |  | $ | 329,156 |  |  | $ | 5,909 |  |  |
Derivatives not designated as hedging instruments in a liability position |  |  |  |  |  |  |  |  |  |  |  |
Interest rate product |  | $ | 316,161 |  |  | $ | 29,492 |  |  | Other liabilities |  | $ | 272,825 |  |  | $ | 5,223 |  |  | Other liabilities
Mortgage banking derivatives |  | 21,428 |  |  | 115 |  |  | Other liabilities |  | — |  |  | — |  |  | Other liabilities
Credit risk participation agreements |  | 26,032 |  |  | 3 |  |  | Other liabilities |  | 26,417 |  |  | 47 |  |  | Other liabilities
|  | $ | 363,621 |  |  | 29,610 |  |  |  |  | $ | 299,242 |  |  | 5,270 |  |  |
Cash and other collateral posted |  |  |  | (2,270) |  |  |  |  |  |  | (2,930) |  |  |
Net derivatives in a liability position |  |  |  | $ | 27,340 |  |  |  |  |  |  | $ | 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 nine months ended September 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 September 30, |  | Gain (Loss) Recognized |  | Three Months Ended September 30,
(dollars in thousands) |  | 2022 |  | 2021 |  | from AOCI into Net Income |  | 2022 |  | 2021
Derivatives in cash flow hedging relationships |  |  |  |  |  |  |  |  |  |
Interest rate products |  | $ | — |  |  | $ | — |  |  | Interest Expense |  | $ | — |  |  | $ | — |
|  | 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 |  | Nine Months Ended September 30, |  | Gain (Loss) Recognized |  | Nine Months Ended September 30,
(dollars in thousands) |  | 2022 |  | 2021 |  | from AOCI into Net Income |  | 2022 |  | 2021
Derivatives in cash flow hedging relationships |  |  |  |  |  |  |  |  |  |
Interest rate products |  | $ | — |  |  | $ | 1 |  |  | 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 nine months ended September 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 September 30, |  | Nine Months Ended September 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 |  | $ | — |  |  |  | $ | — |  |  | $ | — |  |  | $ | (445) |
Gain or (loss) on cash flow hedging relationships in Subtopic 815-20 |  |  |  |  |  |  |  |  |
Interest contracts |  |  |  |  |  |  |  |  |
Amount of gain (loss) reclassified from AOCI into income |  | $ | — |  |  |  | $ | — |  |  | $ | — |  |  | $ | (445) |
Amount of gain (loss) reclassified from AOCI into income - included component |  | $ | — |  |  |  | $ | — |  |  | $ | — |  |  | $ | (445) |
The 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 September 30, |  | Nine Months Ended September 30,
(dollars in thousands) |  | in Income on Derivatives |  | 2022 |  | 2021 |  | 2022 |  | 2021
Interest rate products |  | Other income / (other expense) |  | $ | 837 |  |  | $ | 277 |  |  | $ | 2,299 |  |  | $ | 261 |
Mortgage banking derivatives |  | Gain on sale of loans |  | (90) |  |  | 1,575 |  |  | (619) |  |  | 5,268 |
Other contracts |  | Other income / (other expense) |  | — |  |  | — |  |  | — |  |  | 44 |
Total |  |  |  | $ | 747 |  |  | $ | 1,852 |  |  | $ | 1,680 |  |  | $ | 5,573 |

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