Derivatives (Tables)

9 Months Ended

Sep. 30, 2020

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 September 30, 2020 and December 31, 2019:

(In Thousands)	Asset Derivatives
		September 30, 2020	December 31, 2019
	Balance Sheet Location	Fair Value	Fair Value
Interest rate swaps	Other assets	$8,846	$2,950
Interest rate lock commitments	Other assets	6,519	810
Total		$15,365	$3,760

(In Thousands)	Liability Derivatives
		September 30, 2020	December 31, 2019
	Balance Sheet Location	Fair Value	Fair Value
Interest rate swaps	Other liabilities	$8,846	$2,950
Retail interest rate contracts	Other liabilities	466	71
Total		$9,312	$3,021

Derivative Instruments, Gain (Loss)

The following table presents the net gains (losses) of derivatives not designated as hedging instruments for the three and nine-month periods ending September 30, 2020 and 2019:

		Three Months Ended September 30,		Nine Months Ended September 30,
(In Thousands)	Income Statement Location	2020	2019	2020	2019
Retail interest rate contracts	Mortgage banking income	($1,823)	($242)	($6,525)	($934)
Interest rate lock commitments	Mortgage banking income	1,781	(692)	5,372	313
Total		($42)	($934)	($1,153)	($621)

Offsetting Assets

The following table summarizes the derivatives that have a right of offset as of September 30, 2020 and December 31, 2019:

September 30, 2020				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	$8,846	$—	$8,846	$—	$—	$8,846
Liability Derivatives
Interest rate swaps	$8,846	$—	$8,846	$—	$8,846	$—
Retail interest rate contracts	466	—	466	—	—	466
December 31, 2019				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	$2,950	$—	$2,950	$—	$—	$2,950
Liability Derivatives
Interest rate swaps	$2,950	$—	$2,950	$—	$2,950	$—
Retail interest rate contracts	71	—	71	—	—	71

Offsetting Liabilities

The following table summarizes the derivatives that have a right of offset as of September 30, 2020 and December 31, 2019:

September 30, 2020				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	$8,846	$—	$8,846	$—	$—	$8,846
Liability Derivatives
Interest rate swaps	$8,846	$—	$8,846	$—	$8,846	$—
Retail interest rate contracts	466	—	466	—	—	466
December 31, 2019				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	$2,950	$—	$2,950	$—	$—	$2,950
Liability Derivatives
Interest rate swaps	$2,950	$—	$2,950	$—	$2,950	$—
Retail interest rate contracts	71	—	71	—	—	71