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Derivative Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule Of Derivative Instruments, Cumulative Basis Adjustments | The following table presents amounts that were recorded on the condensed consolidated balance sheets related to cumulative basis adjustments for interest rate swap derivatives designated as fair value accounting hedges as of September 30, 2021 and December 31, 2020.
(in thousands) |  | Carrying amount of the hedged asset |  | Cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged assets
Line item in the condensed consolidated balance sheets in which the hedged item is included |  | September 30, 2021 |  | December 31, 2020 |  | September 30, 2021 |  | December 31, 2020
Securities available-for-sale (1) |  | $ | 76,526 |  |  | $ | 124,210 |  |  | $ | 2,606 |  |  | $ | 6,064 |
(1) These amounts include the amortized cost basis of closed portfolios used to designate hedging relationships in which the hedged item is the last layer expected to be remaining at the end of the hedging relationship. The designated hedged items were $50.0 million and $88.2 million, at September 30, 2021 and December 31, 2020.
Schedule Of Derivative Instruments Of Fixed Rate Receivables | The following tables present a summary of interest rate swap derivatives designated as fair value accounting hedges of fixed-rate receivables used in the Company’s asset/liability management activities at September 30, 2021 and December 31, 2020, identified by the underlying interest rate-sensitive instruments.
(dollars in thousands) September 30, 2021 |  | Notional Value |  | Weighted- Average Remaining Maturity (years) |  |  |  | Weighted-Average Ratio
Instruments Associated With |  |  |  | Fair Value |  | Receive |  | Pay
Securities available-for-sale |  | $ | 50,000 |  |  | 3.1 |  | $ | (2,608) |  |  | 3-month LIBOR |  | 2.33 | %
Total at September 30, 2021 |  | $ | 50,000 |  |  | 3.1 |  | $ | (2,608) |  |  | 3-month LIBOR |  | 2.33 | %
In March 2021, the Company terminated fair value hedging relationships with a notional value of $38.2 million associated with agency mortgage-backed securities available-for-sale, which resulted in swap termination payments to counterparties totaling $1.9 million. The corresponding securities fair value hedging adjustment as of the date of termination is being amortized over the remaining lives of the designated securities.
(dollars in thousands) December 31, 2020 |  | Notional Value |  | Weighted- Average Remaining Maturity (years) |  |  |  | Weighted-Average Ratio
Instruments Associated With |  |  |  | Fair Value |  | Receive |  | Pay
Securities available-for-sale |  | $ | 88,200 |  |  | 3.1 |  | $ | (6,072) |  |  | 3-month LIBOR |  | 2.54 | %
Total at December 31, 2020 |  | $ | 88,200 |  |  | 3.1 |  | $ | (6,072) |  |  | 3-month LIBOR |  | 2.54 | %
Schedule Of Derivative Instruments Of Variable Rate Liabilities | The following tables present a summary of interest rate swap derivatives designated as cash flow accounting hedges of variable-rate liabilities used in the Company’s asset/liability management activities at September 30, 2021 and December 31, 2020.
(dollars in thousands) September 30, 2021 |  | Notional |  | Weighted- Average Remaining Maturity |  |  |  | Weighted-Average Ratio
Cash Flow Hedges |  | Value |  | (years) |  | Fair Value |  | Receive |  | Pay
Interest rate swaps |  | $ | 110,000 |  |  | 5.3 |  | $ | (10,563) |  |  | 3-month LIBOR |  | 2.88 | %
Interest rate swaps |  | 100,000 |  |  | 2.2 |  | (5,449) |  |  | 1-month LIBOR |  | 2.88 | %
(dollars in thousands) December 31, 2020 |  | Notional |  | Weighted- Average Remaining Maturity |  |  |  | Weighted-Average Ratio
Cash Flow Hedges |  | Value |  | (years) |  | Fair Value |  | Receive |  | Pay
Interest rate swaps |  | $ | 110,000 |  |  | 6.1 |  | $ | (15,727) |  |  | 3-month LIBOR |  | 2.88 | %
Interest rate swaps |  | 100,000 |  |  | 3.0 |  | (7,951) |  |  | 1-month LIBOR |  | 2.88 | %
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The following table presents the notional amount and fair value of interest rate swaps, IRLCs and forward contracts utilized by the Company at September 30, 2021 and December 31, 2020.
|  | September 30, 2021 |  | December 31, 2020
(in thousands) |  | Notional Amount |  | Fair Value |  | Notional Amount |  | Fair Value
Asset Derivatives |  |  |  |  |  |  |  |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |
IRLCs |  | $ | 78,602 |  |  | $ | 840 |  |  | $ | 108,095 |  |  | $ | 3,361 |
Forward contracts |  | 80,000 |  |  | 458 |  |  | — |  |  | — |
Total contracts |  | $ | 158,602 |  |  | $ | 1,298 |  |  | $ | 108,095 |  |  | $ | 3,361 |
Liability Derivatives |  |  |  |  |  |  |  |
Derivatives designated as hedging instruments |  |  |  |  |  |  |  |
Interest rate swaps associated with securities available-for-sale |  | 50,000 |  |  | (2,608) |  |  | 88,200 |  |  | (6,072) |
Interest rate swaps associated with liabilities |  | 210,000 |  |  | (16,102) |  |  | 210,000 |  |  | (23,678) |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |
Forward contracts |  | — |  |  | — |  |  | 107,500 |  |  | (640) |
Total contracts |  | $ | 260,000 |  |  | $ | (18,710) |  |  | $ | 405,700 |  |  | $ | (30,390) |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) | The following table presents the effects of the Company’s cash flow hedge relationships on the condensed consolidated statements of comprehensive income during the three and nine months ended September 30, 2021 and 2020.
|  | Amount of Gain Recognized in Other Comprehensive Income (Loss) in The Three Months Ended |  | Amount of Gain/(Loss) Recognized in Other Comprehensive Income (Loss) in The Nine Months Ended
(in thousands) |  | September 30, 2021 |  | September 30, 2020 |  | September 30, 2021 |  | September 30, 2020
Interest rate swap agreements |  | $ | 1,439 |  |  | $ | 1,514 |  |  | $ | 7,665 |  |  | $ | (12,453) |
Schedule of Derivative Instruments in Statements of Income Fair Value | The following table summarizes the periodic changes in the fair value of derivatives not designated as hedging instruments on the condensed consolidated statements of income for the three and nine months ended September 30, 2021 and 2020.
|  | Amount of Gain / (Loss) Recognized in the Three Months Ended |  | Amount of Gain / (Loss) Recognized in the Nine Months Ended
(in thousands) |  | September 30, 2021 |  | September 30, 2020 |  | September 30, 2021 |  | September 30, 2020
Asset Derivatives |  |  |  |  |  |  |  |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |
IRLCs |  | $ | — |  |  | $ | 2,834 |  |  | $ | (2,519) |  |  | $ | 2,206 |
Liability Derivatives |  |  |  |  |  |  |  |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |
IRLCs |  | 22 |  |  | — |  |  | — |  |  | — |
Forward contracts |  | $ | 474 |  |  | $ | (468) |  |  | $ | 1,097 |  |  | $ | (332) |
Schedule Of Effects Of Interest Rate Swap Agreements On Statements Of Income | The following table presents the effects of the Company’s interest rate swap agreements on the condensed consolidated statements of income during the three and nine months ended September 30, 2021 and 2020.
(in thousands) Line item in the condensed consolidated statements of income |  | Three Months Ended |  | Nine Months Ended
| September 30, 2021 |  | September 30, 2020 |  | September 30, 2021 |  | September 30, 2020
Interest income |  |  |  |  |  |  |  |
Loans |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (2,445) |
Securities - taxable |  | — |  |  | (229) |  |  | (253) |  |  | (479) |
Securities - non-taxable |  | (280) |  |  | (242) |  |  | (817) |  |  | (472) |
Total interest income |  | (280) |  |  | (471) |  |  | (1,070) |  |  | (3,396) |
Interest expense |  |  |  |  |  |  |  |
Deposits |  | 702 |  |  | 685 |  |  | 2,072 |  |  | 1,585 |
Other borrowed funds |  | 774 |  |  | 721 |  |  | 2,258 |  |  | 1,632 |
Total interest expense |  | 1,476 |  |  | 1,406 |  |  | 4,330 |  |  | 3,217 |
Net interest income |  | $ | (1,756) |  |  | $ | (1,877) |  |  | $ | (5,400) |  |  | $ | (6,613) |

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