Derivatives (Tables)

3 Months Ended

Mar. 31, 2023

Derivatives

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

		Asset derivatives fair value					Liability derivatives fair value
	Balance Sheet	March 31,		December 31,		Balance Sheet	March 31,		December 31,
	location	2023		2022		Location	2023		2022
Derivatives designated as hedging instruments:
Interest rate products	Other assets	$	27,711	$	34,164	Other liabilities	$	2,142	$	1,929
Total derivatives designated as hedging instruments		$	27,711	$	34,164		$	2,142	$	1,929
Derivatives not designated as hedging instruments:
Interest rate products	Other assets	$	7,892	$	10,657	Other liabilities	$	7,900	$	10,660
Interest rate lock commitments	Other assets		674		197	Other liabilities		48		174
Forward contracts	Other assets		33		210	Other liabilities		270		104
Total derivatives not designated as hedging instruments		$	8,599	$	11,064		$	8,218	$	10,938

Derivative Instruments, Gain (Loss)

	Location of gain (loss)	Amount of (loss) gain recognized in income on derivatives
Derivatives in fair value	recognized in income on	For the three months ended March 31,
hedging relationships	derivatives	2023		2022
Interest rate products	Interest and fees on loans	$	(5,491)	$	18,596

	Location of gain (loss)	Amount of gain (loss) recognized in income on hedged items
	recognized in income on	For the three months ended March 31,
Hedged items	hedged items	2023		2022
Interest rate products	Interest and fees on loans	$	7,310	$	(20,220)

	Location of gain (loss)	Amount of (loss) gain recognized in income on derivatives
Derivatives not designated	recognized in income on	For the three months ended March 31,
as hedging instruments	derivatives	2023		2022
Interest rate products	Other non-interest expense	$	(6)	$	5
Interest rate lock commitments	Mortgage banking income		640		(1,086)
Forward contracts	Mortgage banking income		(344)		2,711
Total		$	290	$	1,630

Summary of effect of fair value cash flow hedge accounting on accumulated other comprehensive income

The table below presents the effect of fair value cash flow hedge accounting on AOCI as of the dates presented. The Company did not utilize cash flow hedges until the third quarter of 2022.

	For the three months ended March 31, 2023
		Gain recognized in OCI on derivative		Gain recognized in OCI included component		Gain recognized in OCI excluded component	Location of Loss recognized from AOCI into income		Loss reclassified from AOCI into income		Loss reclassified from AOCI into income included component		Loss reclassified from AOCI into income excluded component
Derivatives in cash flow hedging relationships:
Interest rate products	$	616	$	399	$	217	Interest income	$	(262)	$	(162)	$	(100)