Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Financial Instruments

Summary of notional amount and fair value of derivative assets and liabilities

		Notional			Fair Value
		Amount	Balance Sheet Location		Asset		Liability
September 30, 2022		(In thousands)			(In thousands)
Interest rate lock commitments	$	22,266	Other assets/liabilities	$	24	$	438
Forward contracts	$	29,213	Other assets/liabilities		1,046		2
Interest rate swaps	$	50,080	Other assets/liabilities		3,405		—
				$	4,475	$	440

		Notional			Fair Value
		Amount	Balance Sheet Location		Asset		Liability
December 31, 2021		(In thousands)			(In thousands)
Interest rate lock commitments	$	58,701	Other assets/liabilities	$	264	$	41
Forward contracts	$	81,250	Other assets/liabilities		86		118
				$	350	$	159

Summarizes the periodic changes in the fair value of the derivative financial instruments on the condensed consolidated statements of income

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
	(In thousands)					(In thousands)
Derivative gain (loss) included in other income:
Interest rate lock commitments	$	(592)	$	(691)	$	(637)	$	(6,389)
Forward contracts (includes pair-off settlements)		1,091		(322)		5,550		5,785
Net derivative gains (loss)	$	499	$	(1,013)	$	4,913	$	(604)
Gain (loss) included in gain on sale of loans:
Interest rates swaps - change in fair value		3,245		—		3,405		—
Loans held for sale - change in fair value		(3,138)		—		(3,303)		—
Net gain (loss)	$	107	$	—	$	102	$	—

Interest rate swaps

Derivative Financial Instruments

Summary of notional amount and fair value of derivative assets and liabilities

		Notional			Fair Value
		Amount	Balance Sheet Location		Asset		Liability
		(In thousands)			(In thousands)
September 30, 2022	$	78,346	Other assets/liabilities	$	3,413	$	3,413
December 31, 2021	$	135,686	Other assets/liabilities	$	1,131	$	1,131

Summarizes the periodic changes in the fair value of the derivative financial instruments on the condensed consolidated statements of income

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
	(In thousands)					(In thousands)
Gross swap gains	$	249	$	371	$	2,282	$	1,452
Gross swap losses		249		371		2,282		1,452
Net swap gains (losses)	$	—	$	—	$	—	$	—