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v3.23.1

Derivatives (Tables) | 3 Months Ended
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Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | The following table presents the fair value of derivatives not designated as hedging instruments at March 31, 2023 and December 31, 2022:
(In Thousands) | Asset Derivatives
|  | March 31, 2023 | December 31, 2022
| Balance Sheet Location | Fair Value | Fair Value
Interest rate swaps | Other assets | $10,683 |  | $12,725 |
Interest rate lock commitments | Other assets | 685 |  | 440 |
Total |  | $11,368 |  | $13,165 |
(In Thousands) | Liability Derivatives
|  | March 31, 2023 | December 31, 2022
| Balance Sheet Location | Fair Value | Fair Value
Interest rate swaps | Other liabilities | $10,683 |  | $12,725 |
Retail interest rate contracts | Other liabilities | 107 |  | 3 |
Total |  | $10,790 |  | $12,728 |
Derivative Instruments, Gain (Loss) | The following table presents the net gains (losses) of derivatives not designated as hedging instruments for periods indicated below:
|  | Three Months Ended March 31, |
(In Thousands) | Income Statement Location | 2023 | 2022 |  |
Retail interest rate contracts | Mortgage banking income | ($123) |  | $2,560 |  |  |
Interest rate lock commitments | Mortgage banking income | 228 |  | (480) |  |  |
Total |  | $105 |  | $2,080 |  |  |
Offsetting Assets | The following table summarizes the derivatives that have a right of offset as of March 31, 2023 and December 31, 2022:
March 31, 2023 |  |  |  | Gross amounts not offset in the Statement of Financial Position
(In Thousands) | Gross amounts of recognized assets and liabilities | Gross amounts offset in the Statement of Financial Position | Net amounts of assets and liabilities presented in the Statement of Financial Position | Financial Instruments | Collateral Posted | Net Amount
Asset Derivatives |  |  |  |  |  |
Interest rate swaps | $10,683 | $— |  | $10,683 | $— |  | $— |  | $10,683 |
Liability Derivatives |  |  |  |  |  |
Interest rate swaps | $10,683 | $— |  | $10,683 | $— |  | $10,683 | $— |
Retail interest rate contracts | 107 |  | — |  | 107 | — |  | — |  | 107 |
December 31, 2022 |  |  |  | Gross amounts not offset in the Statement of Financial Position
(In Thousands) | Gross amounts of recognized assets and liabilities | Gross amounts offset in the Statement of Financial Position | Net amounts of assets and liabilities presented in the Statement of Financial Position | Financial Instruments | Collateral Posted | Net Amount
Asset Derivatives |  |  |  |  |  |
Interest rate swaps | $12,725 | $— |  | $12,725 | $— |  | $— |  | $12,725 |
Liability Derivatives |  |  |  |  |  |
Interest rate swaps | $12,725 | $— |  | $12,725 | $— |  | $12,725 | $— |
Retail interest rate contracts | 3 |  | — |  | 3 | — |  | — |  | 3 |
Offsetting Liabilities | The following table summarizes the derivatives that have a right of offset as of March 31, 2023 and December 31, 2022:
March 31, 2023 |  |  |  | Gross amounts not offset in the Statement of Financial Position
(In Thousands) | Gross amounts of recognized assets and liabilities | Gross amounts offset in the Statement of Financial Position | Net amounts of assets and liabilities presented in the Statement of Financial Position | Financial Instruments | Collateral Posted | Net Amount
Asset Derivatives |  |  |  |  |  |
Interest rate swaps | $10,683 | $— |  | $10,683 | $— |  | $— |  | $10,683 |
Liability Derivatives |  |  |  |  |  |
Interest rate swaps | $10,683 | $— |  | $10,683 | $— |  | $10,683 | $— |
Retail interest rate contracts | 107 |  | — |  | 107 | — |  | — |  | 107 |
December 31, 2022 |  |  |  | Gross amounts not offset in the Statement of Financial Position
(In Thousands) | Gross amounts of recognized assets and liabilities | Gross amounts offset in the Statement of Financial Position | Net amounts of assets and liabilities presented in the Statement of Financial Position | Financial Instruments | Collateral Posted | Net Amount
Asset Derivatives |  |  |  |  |  |
Interest rate swaps | $12,725 | $— |  | $12,725 | $— |  | $— |  | $12,725 |
Liability Derivatives |  |  |  |  |  |
Interest rate swaps | $12,725 | $— |  | $12,725 | $— |  | $12,725 | $— |
Retail interest rate contracts | 3 |  | — |  | 3 | — |  | — |  | 3 |

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