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Derivatives (Tables)
12 Months Ended
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Financial Instruments
The following table provides details on the Company’s derivative financial instruments as of the dates presented:
 
 
December 31, 2019
 
 
 
Notional Amount

 
Asset

 
Liability

Not designated as hedging:
 
 
 
 
 
 
Interest rate contracts
 
$
440,556

 
$
14,929

 
$
14,929

Forward commitments
 
684,437

 

 
866

Interest rate-lock commitments
 
453,198

 
7,052

 

Futures contracts
 
389,000

 

 
1,623

Option contracts
 

 

 

Total
 
$
1,967,191

 
$
21,981

 
$
17,418


 
 
December 31, 2018
 
 
 
Notional Amount

 
Asset

 
Liability

Not designated as hedging:
 
 
 
 
 
 
Interest rate contracts
 
$
295,333

 
$
6,679

 
$
6,679

Forward commitments
 
474,208

 

 
4,958

Interest rate-lock commitments
 
318,706

 
6,241

 

Futures contracts
 
166,000

 
649

 

Options contracts
 
3,800

 
26

 

Total
 
$
1,258,047

 
$
13,595

 
$
11,637

 
 
 
December 31, 2019
 
 
 
Notional Amount

 
Asset

 
Liability

Designated as hedging:
 
 
 
 
 
 
Interest rate swaps
 
$
30,000

 
$

 
$
515


 
 
December 31, 2018
 
 
 
Notional Amount

 
Asset

 
Liability

Designated as hedging:
 
 
 
 
 
 
Interest rate swaps
 
$
30,000

 
$
721

 
$

Schedule of Gains (Losses) Included in the Consolidated Statements of Income Related to Derivative Financial Instruments
Gains (losses) included in the Consolidated Statements of Income related to the Company’s derivative financial instruments were as follows:
 
 
Year Ended December 31,
 
 
 
2019

 
2018

 
2017

Not designated as hedging instruments (included in mortgage banking income):
 
 
 
 
 
 
Interest rate lock commitments
 
$
(2,112
)
 
$
(527
)
 
$
340

Forward commitments
 
12,170

 
3,864

 
(11,987
)
Futures contracts
 
(6,723
)
 
(2,981
)
 
315

Option contracts
 
(47
)
 
(58
)
 
22

Total
 
$
3,288

 
$
298

 
$
(11,310
)
 
 
Year Ended December 31,
 
 
 
2019

 
2018

 
2017

Designated as hedging:
 
 
 
 
 
 
Amount of gain reclassified from other comprehensive
income and recognized in interest expense on
borrowings, net of taxes of $170, $45, and $0
 
$
481

 
$
128

 
$

Gain (loss) included in interest expense on borrowings
 
115

 
32

 
(168
)
Total
 
$
596

 
$
160

 
$
(168
)
The following discloses the amount included in other comprehensive income (loss), net of tax, for derivative instruments designated as cash flow hedges for the periods presented: 
 
 
Year Ended December 31,
 
 
 
2019

 
2018

 
2017

Designated as hedging:
 
 
 
 
 
 
Amount of (loss) gain recognized in other comprehensive
   income, net of tax
 
$
(914
)
 
$
1,039

 
$
685