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Derivatives (Tables) | 6 Months Ended
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Jun. 30, 2023
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 derivative instruments as of June 30, 2023 and December 31, 2022. 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, 2023, it could have been required to settle its obligations under the agreement at the termination value.
|  | June 30, 2023 |  | December 31, 2022
(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 |  | $ | 595,845 |  |  | $ | 30,659 |  |  | Other assets |  | $ | 396,024 |  |  | $ | 31,039 |  |  | Other assets
Credit risk participation agreements |  | 26,213 |  |  | 3 |  |  | Other liabilities |  | — |  |  | — |  |  | N/A
Mortgage banking derivatives |  | — |  |  | — |  |  | N/A |  | 6,963 |  |  | 93 |  |  | Other assets
Total |  | $ | 622,058 |  |  | $ | 30,662 |  |  |  |  | $ | 402,987 |  |  | $ | 31,132 |  |  |
Derivatives not designated as hedging instruments in a liability position |  |  |  |  |  |  |  |  |  |  |  |
Interest rate product |  | $ | 595,845 |  |  | $ | 32,341 |  |  | Other liabilities |  | $ | 396,024 |  |  | $ | 30,065 |  |  | Other liabilities
Credit risk participation agreements |  | — |  |  | — |  |  | N/A |  | 25,902 |  |  | 2 |  |  | Other liabilities
Total |  | $ | 595,845 |  |  | $ | 32,341 |  |  |  |  | $ | 421,926 |  |  | $ | 30,067 |  |  |
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, 2023 and 2022:
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 in Income on Derivatives |  | Three Months Ended June 30, |  | Six Months Ended June 30,
(dollars in thousands) |  |  | 2023 |  | 2022 |  | 2023 |  | 2022
Interest rate products |  | Other income / (other expense) |  | $ | 1,058 |  |  | $ | 334 |  |  | $ | 708 |  |  | $ | 585 |
Mortgage banking derivatives |  | Gain on sale of loans |  | (29) |  |  | (299) |  |  | (93) |  |  | (529) |
Other contracts |  | Other income / (other expense) |  | — |  |  | — |  |  | — |  |  | — |
Total |  |  |  | $ | 1,029 |  |  | $ | 35 |  |  | $ | 615 |  |  | $ | 56 |

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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 -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A + Details
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