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Derivative Instruments | 9 Months Ended
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Sep. 30, 2021
Derivative Instruments |
Derivative Instruments | NOTE 15 Derivative Instruments The Company enters into interest rate swaps to facilitate client transactions and meet their financing needs. Upon entering into these instruments to meet client needs, the Company enters into offsetting positions with U.S. financial institutions in order to minimize risk to the Company. These swaps are derivatives but are not designated as hedging instruments. The Company did not have any derivatives designated as hedging instruments as of September 30, 2021 and December 31, 2020. The following table presents the amounts recorded in the Company’s consolidated balance sheets, for derivatives not designated as hedging instruments, as of September 30, 2021 and December 31, 2020: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | September 30, 2021 | ​ | December 31, 2020
​ | ​ | ​ | ​ | Fair | ​ | Notional | ​ | Fair | ​ | Notional
(dollars in thousands) |  | ​ |  | Value |  | Amount |  | Value |  | Amount
Asset Derivatives |  | Consolidated Balance Sheet Location |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Interest rate swaps |  | Other assets | ​ | $ | 1,060 | ​ | $ | 45,171 | ​ | $ | 569 | ​ | $ | 44,597
Interest rate lock commitments |  | Other assets | ​ | ​ | 2,813 | ​ | ​ | 107,769 | ​ | ​ | 10,124 | ​ | ​ | 270,103
Forward loan sales commitments |  | Other assets | ​ |  | 602 | ​ |  | 18,877 | ​ |  | 2,664 | ​ |  | 86,990
TBA mortgage backed securities |  | Other assets | ​ |  | 405 | ​ |  | 189,470 | ​ |  | — | ​ |  | —
Total asset derivatives |  |  | ​ | $ | 4,880 | ​ | $ | 361,287 | ​ | $ | 13,357 | ​ | $ | 401,690
Liability Derivatives |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Interest rate swaps |  | Accrued expenses and other liabilities | ​ | $ | 1,062 | ​ | $ | 45,171 | ​ | $ | 572 | ​ | $ | 44,597
TBA mortgage backed securities |  | Accrued expenses and other liabilities | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,339 | ​ | ​ | 307,000
Total liability derivatives |  |  | ​ | $ | 1,062 | ​ | $ | 45,171 | ​ | $ | 2,911 | ​ | $ | 351,597
​ The gain (loss) recognized on derivative instruments for the three and nine months ended September 30, 2021 and 2020 was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Three months ended | ​ | Nine months ended
​ | ​ | Consolidated Statements | ​ | September 30, | ​ | September 30, | ​ | September 30, | ​ | September 30,
(dollars in thousands) |  | of Income Location |  | 2021 |  | 2020 |  | 2021 |  | 2020
Interest rate swaps |  | Other noninterest income | ​ | $ | 1 | ​ | $ | (3) | ​ | $ | 2 | ​ | $ | (3)
Interest rate lock commitments |  | Mortgage banking | ​ | ​ | (1,793) | ​ | ​ | 5,650 | ​ | ​ | (7,298) | ​ | ​ | 11,229
Forward loan sales commitments |  | Mortgage banking | ​ | ​ | (499) | ​ | ​ | 369 | ​ | ​ | (2,061) | ​ | ​ | 1,152
TBA mortgage backed securities |  | Mortgage banking | ​ | ​ | (690) | ​ | ​ | (3,747) | ​ |  | 4,865 | ​ |  | (9,099)
Total gain/(loss) from derivative instruments |  | ​ | ​ | $ | (2,981) | ​ | $ | 2,269 | ​ | $ | (4,492) | ​ | $ | 3,279
​ ​ The Company has third party agreements that require a minimum dollar transfer amount upon a margin call. This requirement is dependent on certain specified credit measures. The amount of collateral posted with third parties at September 30, 2021 and December 31, 2020 was $2.1 million and $2.7 million, respectively. The amount of collateral posted with third parties was deemed to be sufficient as of those dates to collateralize both the fair market value change as well as any additional amounts that may be required as a result of a change in the specified credit measures.

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
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