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Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2021

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 June 30, 2021 and December 31, 2020 (in thousands):

										Asset derivatives										Liability derivatives
		Gross notional amount								Balance		Fair value								Balance		Fair value
		June 30, 2021				Dec. 31, 2020				sheet line item		June 30, 2021				Dec. 31, 2020				sheet line item		June 30, 2021				Dec. 31, 2020
Derivatives designated as hedging instruments
Cash flow hedges		$	50,000			$	50,000			Other assets		$	1,004			$	—			Other liabilities		$	—			$	311
Total derivatives		$	50,000			$	50,000					$	1,004			$	—					$	—			$	311
Derivatives not designated as hedging instruments
Cash flow hedges		$	—			$	100,000			Other assets		$	—			$	—			Other liabilities		$	—			$	—
Interest rate swaps (1)			716,115				631,907			Other assets			15,108				19,626			Other liabilities			14,972				19,837
Credit contracts			115,833				113,434			Other assets			14				23			Other liabilities			53				86
Mortgage banking			27,730				28,225			Other assets			317				471			Other liabilities			39				1
Total derivatives		$	859,678			$	873,566					$	15,439			$	20,120					$	15,064			$	19,924

⁽¹⁾ The Company secured its obligations under these contracts with $8.7 million and $19.6 million in cash at June 30, 2021 and December 31, 2020, 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 six months ended June 30, 2021 and 2020 (in thousands):

				Gain (loss) recognized in income								Gain (loss) recognized in income
		Line item of gain (loss)		Three months ended June 30,								Six months ended June 30,
Undesignated derivatives		recognized in income		2021				2020				2021				2020
Cash flow hedges		Income from derivative instruments, net		$	—			$	—			$	—			$	—
Interest rate swaps		Income from derivative instruments, net			(333	)			1,681				1,439				2,405
Credit contracts		Income from derivative instruments, net			(12	)			128				36				123
Mortgage banking		Income from derivative instruments, net			(247	)			131				(192	)			158
Total undesignated				$	(592	)		$	1,940			$	1,283			$	2,686

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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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