Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule Of Fair Value Of Derivative Financial Instruments

The table below presents the fair value of the Company’s derivative financial instruments as of June 30, 2022, December 31, 2021 and June 30, 2021:

	Derivative Assets						Derivative Liabilities
(In thousands)	June 30, 2022		December 31, 2021		June 30, 2021		June 30, 2022		December 31, 2021		June 30, 2021
Derivatives designated as hedging instruments under ASC 815:
Interest rate derivatives designated as Cash Flow Hedges	$	151	$	47,309	$	34,743	$	—	$	10,401	$	24,272
Interest rate derivatives designated as Fair Value Hedges	10,396		1,474		78		128		5,841		9,373
Total derivatives designated as hedging instruments under ASC 815	$	10,547	$	48,783	$	34,821	$	128	$	16,242	$	33,645
Derivatives not designated as hedging instruments under ASC 815:
Interest rate derivatives	$	165,209	$	103,710	$	153,510	$	164,979	$	103,665	$	153,714
Interest rate lock commitments	6,649		10,560		23,175		173		885		2,834
Forward commitments to sell mortgage loans	906		1,625		781		1,963		1,878		3,153
Foreign exchange contracts	614		330		93		614		330		93
Total derivatives not designated as hedging instruments under ASC 815	$	173,378	$	116,225	$	177,559	$	167,729	$	106,758	$	159,794
Total Derivatives	$	183,925	$	165,008	$	212,380	$	167,857	$	123,000	$	193,439

Schedule Of Cash Flow Hedging Instruments

The table below provides details on these cash flow hedges, summarized by derivative type and maturity, as of June 30, 2022:

	June 30, 2022
(In thousands)	Notional		Fair Value
Maturity Date	Amount		Asset (Liability)
Interest Rate Swaps:
July 2022	$	230,000	$	0
August 2022	235,000		0
Interest Rate Collars:
September 2023	69,643		151
Total Cash Flow Hedges	$	534,643	$	151

Rollforward Of Amounts In Accumulated Other Comprehensive Income Related To Interest Rate Swaps Designated As Cash Flow Hedges

A rollforward of the amounts in accumulated other comprehensive income or loss related to interest rate derivatives designated as cash flow hedges, including such derivative contracts terminated during the period, follows:

	Three Months Ended				Six Months Ended
(In thousands)	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Unrealized gain (loss) at beginning of period	$	76,389	$	19,259	$	36,908	$	(31,533)
Amount reclassified from accumulated other comprehensive income to interest expense on deposits, other borrowings and junior subordinated debentures	1,012		6,866		6,365		13,562
Amount of income recognized in other comprehensive income	1,363		(15,654)		35,491		28,442
Unrealized gain at end of period	$	78,764	$	10,471	$	78,764	$	10,471

Schedule of Carrying Amount of Hedged Assets/(Liabilities)

The following table presents the carrying amount of the hedged assets/(liabilities) and the cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged assets/(liabilities) that are designated as a fair value hedge accounting relationship as of June 30, 2022:

		June 30, 2022
(In thousands) Derivatives in Fair Value Hedging Relationships	Location in the Statement of Condition	Carrying Amount of the Hedged Assets/(Liabilities)		Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities)		Cumulative Amount of Fair Value Hedging Adjustment Remaining for any Hedged Assets/(Liabilities) for which Hedge Accounting has been Discontinued
Interest rate swaps	Loans, net of unearned income	$	124,188	$	(10,234)	$	(119)
	Available-for-sale debt securities	1,013		6		—

The following table presents the loss or gain recognized related to derivative instruments that are designated as fair value hedges for the respective period:

(In thousands) Derivatives in Fair Value Hedging Relationships	Location of (Loss)/Gain Recognized in Income on Derivative	Three Months Ended		Six Months Ended
		June 30, 2022		June 30, 2022
Interest rate swaps	Interest and fees on loans	$	7	$	23
	Interest income - investment securities	—		—

Summary Amounts Included In Consolidated Statement Of Income Related To Derivatives

Amounts included in the Consolidated Statements of Income related to derivative instruments not designated in hedge relationships were as follows:

(In thousands)		Three Months Ended				Six Months Ended
Derivative	Location in income statement	June 30, 2022		June 30, 2021		June 30, 2022		June 30, 2021
Interest rate swaps and caps	Trading gains (losses), net	$	161	$	(539)	$	4,185	$	(111)
Mortgage banking derivatives	Mortgage banking revenue	(7,550)		(10,480)		(14,919)		(27,959)
Foreign exchange contracts	Trading gains (losses), net	—		(3)		—		(8)
Covered call options	Fees from covered call options	1,069		1,388		4,811		1,388

Offsetting Assets

The tables below summarize the Company's interest rate derivatives and offsetting positions as of the dates shown.

	Derivative Assets						Derivative Liabilities
	Fair Value						Fair Value
(In thousands)	June 30, 2022		December 31, 2021		June 30, 2021		June 30, 2022		December 31, 2021		June 30, 2021
Gross Amounts Recognized	$	175,756	$	152,493	$	188,331	$	165,107	$	119,907	$	187,359
Less: Amounts offset in the Statements of Condition	—		—		—		—		—		—
Net amount presented in the Statements of Condition	$	175,756	$	152,493	$	188,331	$	165,107	$	119,907	$	187,359
Gross amounts not offset in the Statements of Condition
Offsetting Derivative Positions	(6,009)		(52,832)		(37,895)		(6,009)		(52,832)		(37,895)
Collateral Posted	(163,412)		(3,530)		—		(91)		(55,201)		(146,240)
Net Credit Exposure	$	6,335	$	96,131	$	150,436	$	159,007	$	11,874	$	3,224

Offsetting Liabilities

The tables below summarize the Company's interest rate derivatives and offsetting positions as of the dates shown.

	Derivative Assets						Derivative Liabilities
	Fair Value						Fair Value
(In thousands)	June 30, 2022		December 31, 2021		June 30, 2021		June 30, 2022		December 31, 2021		June 30, 2021
Gross Amounts Recognized	$	175,756	$	152,493	$	188,331	$	165,107	$	119,907	$	187,359
Less: Amounts offset in the Statements of Condition	—		—		—		—		—		—
Net amount presented in the Statements of Condition	$	175,756	$	152,493	$	188,331	$	165,107	$	119,907	$	187,359
Gross amounts not offset in the Statements of Condition
Offsetting Derivative Positions	(6,009)		(52,832)		(37,895)		(6,009)		(52,832)		(37,895)
Collateral Posted	(163,412)		(3,530)		—		(91)		(55,201)		(146,240)
Net Credit Exposure	$	6,335	$	96,131	$	150,436	$	159,007	$	11,874	$	3,224