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Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Fair Values of Derivative Instruments on the Balance Sheet

The table below presents the notional amounts, respective fair values of the Company’s derivative financial instruments, as well as their classification on the balance sheet as of September 30, 2020 and December 31, 2019 (in thousands):

										Asset derivatives										Liability derivatives
		Gross notional amount								Balance		Fair value								Balance		Fair value
		Sept. 30, 2020				Dec. 31, 2019				sheet line item		Sept. 30, 2020				Dec. 31, 2019				sheet line item		Sept. 30, 2020				Dec. 31, 2019
Derivatives designated as hedging instruments
Cash flow hedges		$	50,000			$	100,000			Other assets		$	—			$	—			Other liabilities		$	647			$	—
Total derivatives		$	50,000			$	100,000					$	—			$	—					$	647			$	—
Derivatives not designated as hedging instruments
Cash flow hedges		$	100,000			$	—			Other assets		$	—			$	—			Other liabilities		$	—			$	—
Interest rate swaps (1)			575,707				272,962			Other assets			23,079				6,419			Other liabilities			23,498				6,720
Credit contracts			87,393				68,324			Other assets			29				13			Other liabilities			47				18
Mortgage banking			40,752				11,859			Other assets			891				119			Other liabilities			13				7
Total derivatives		$	803,852			$	353,145					$	23,999			$	6,551					$	23,558			$	6,745

^{(1) The Company secured its obligations under these contracts with $24.6 million and $6.7 million in cash at September 30, 2020 and December 31, 2019, respectively.}

Effect of Derivative Instruments on the Income Statement

The table below presents the effect of the Company’s derivative financial instruments on the income statement for the three and nine months ended September 30, 2020 and 2019 (in thousands):

				Gain (loss) recognized in income								Gain (loss) recognized in income
		Line item of gain (loss)		Three months ended September 30,								Nine months ended September 30,
Undesignated derivatives		recognized in income		2020				2019				2020				2019
Cash flow hedges		Income from derivative instruments, net		$	—			$	—			$	—			$	—
Interest rate swaps		Income from derivative instruments, net			1,310				854				3,715				838
Credit contracts		Income from derivative instruments, net			13				48				136				54
Mortgage banking		Income from derivative instruments, net			608				(12	)			766				121
Total undesignated				$	1,931			$	890			$	4,617			$	1,013

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- References

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624181-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959

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- 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 http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959

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