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Derivative Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of notional amount and fair value of the company’s interest rate swaps |
|  | March 31, 2022 |  |  | December 31, 2021 |
|  | Notional |  |  | Fair |  |  | Notional |  |  | Fair |
($ in thousands) |  | Amount |  |  | Value |  |  | Amount |  |  | Value |
Asset Derivatives |  |  |  |  |  |  |  |  |  |  |  |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps associated with loans |  | $ | 75,640 |  |  | $ | 482 |  |  | $ | 84,733 |  |  | $ | 3,655 |
IRLCs |  |  | - |  |  |  | - |  |  |  | 21,391 |  |  |  | 22 |
Forward contracts |  |  | 17,750 |  |  |  | 281 |  |  |  | - |  |  |  | - |
Total contracts |  | $ | 93,390 |  |  | $ | 763 |  |  | $ | 106,124 |  |  | $ | 3,677 |
Liability Derivatives |  |  |  |  |  |  |  |  |  |  |  |
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps associated with loans |  | $ | 75,640 |  |  | $ | (482 | ) |  | $ | 84,733 |  |  | $ | (3,655 | )
Forward contracts |  |  | - |  |  |  | - |  |  |  | 25,000 |  |  |  | (32 | )
IRLCs |  |  | 13,285 |  |  |  | (155 | ) |  |  | - |  |  |  | - |
Total contracts |  | $ | 88,925 |  |  | $ | (637 | ) |  | $ | 109,733 |  |  | $ | (3,687 | )
Schedule consolidated statements of income for non-hedging derivative financial instruments |
|  |  |  | Amount of gain (loss) |
($ in thousands) |  | Statement of income classification |  | 2022 |  |  | 2021 |
Interest rate swap contracts |  | Other income |  | $ | - |  |  | $ | 133 |
IRLCs |  | Gain on sale of mortgage loans & OMSR |  |  | (177 | ) |  |  | (692 | )
Forward contracts |  | Gain on sale of mortgage loans & OMSR |  |  | 313 |  |  |  | 762 |
Schedule of financial assets and derivative assets |
|  | Gross amounts |  |  | Gross amounts offset in the |  |  | Net amounts of assets presented in the |  |  | Gross amounts not offset in the consolidated balance sheet |  |  |  |
($ in thousands) |  | of recognized assets |  |  | consolidated balance sheet |  |  | consolidated balance sheet |  |  | Financial instruments |  |  | Cash collateral received |  |  | Net amount |
March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 1,211 |  |  | $ | 729 |  |  | $ | 482 |  |  | $ | - |  |  | $ | - |  |  | $ | 482 |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 3,746 |  |  | $ | 91 |  |  | $ | 3,655 |  |  | $ | - |  |  | $ | - |  |  | $ | 3,655 |
Schedule of financial liabilities and derivative liabilities |
|  | Gross amounts |  |  | Gross amounts offset in the |  |  | Net amounts of liabilities presented in the |  |  | Gross amounts not offset in the consolidated balance sheet |  |  |  |
($ in thousands) |  | of recognized liabilities |  |  | consolidated balance sheet |  |  | consolidated balance sheet |  |  | Financial instruments |  |  | Cash collateral pledged |  |  | Net amount |
March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 1,211 |  |  | $ | 729 |  |  | $ | 482 |  |  | $ | - |  |  | $ | 6,897 |  |  | $ | (6,415 | )
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 3,746 |  |  | $ | 91 |  |  | $ | 3,655 |  |  | $ | - |  |  | $ | 6,906 |  |  | $ | (3,251 | )

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