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Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 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 December 31 (in thousands):

										Asset derivatives										Liability derivatives
		Gross notional amount								Balance sheet		Fair value								Balance sheet		Fair value
		2021				2020				line item		2021				2020				line item		2021				2020
Derivatives designated as hedging instruments
Cash flow hedges		$	50,000			$	50,000			Other assets		$	1,559			$	-			Other liabilities		$	-			$	311
Total derivatives		$	50,000			$	50,000					$	1,559			$	-					$	-			$	311
Derivatives not designated as hedging instruments
Cash flow hedges		$	-			$	100,000			Other assets		$	-			$	-			Other liabilities		$	-			$	-
Interest rate swaps (1)			853,445				631,907			Other assets			14,702				19,626			Other liabilities			14,708				19,837
Credit contracts			113,833				113,434			Other assets			-				23			Other liabilities			1				86
Mortgage banking			18,199				28,225			Other assets			243				471			Other liabilities			4				1
Total derivatives		$	985,477			$	873,566					$	14,945			$	20,120					$	14,713			$	19,924

(1)The Company secured its obligations under these contracts with $4.6 million and $19.6 million in cash at December 31, 2021 and 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 years ended December 31 (in thousands):

				Gain (loss) recognized in income
Undesignated derivatives		Line item of gain (loss) recognized in income		2021				2020				2019
Cash flow hedges		Income from derivative instruments, net		$	-			$	-			$	-
Interest rate swaps		Income from derivative instruments, net			2,852				4,707				2,189
Credit contracts		Income from derivative instruments, net			74				455				29
Mortgage banking		Income from derivative instruments, net			(231	)			359				56
Total undesignated				$	2,695			$	5,521			$	2,274

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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=125515794&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=125515794&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=125515794&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=125515794&loc=SL5624163-113959

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