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Derivatives (Tables)
12 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Financial Instruments The following tables provide details on the Company’s non-designated derivative financial instruments as of the dates presented:
December 31, 2022
Notional AmountAssetLiability
  Interest rate contracts$560,310 $45,775 $45,762 
  Forward commitments207,000 306 — 
  Interest rate-lock commitments118,313 1,433 — 
  Futures contracts87,700 — 3,790 
    Total$973,323 $47,514 $49,552 
 December 31, 2021
 Notional AmountAssetLiability
  Interest rate contracts$600,048 $19,265 $19,138 
  Forward commitments1,180,000 — 1,077 
  Interest rate-lock commitments487,396 7,197 — 
  Futures contracts429,000 922 — 
    Total$2,696,444 $27,384 $20,215 
The following presents a summary of the Company's designated cash flow hedges as of the dates presented:
 December 31, 2022December 31, 2021
 Notional AmountEstimated fair valueBalance sheet locationEstimated fair valueBalance sheet location
Interest rate swap agreements-
   subordinated debt
$30,000 $1,255 Other assets$(785)Accrued expenses and other liabilities
 December 31, 2022
 Notional AmountRemaining Maturity (In Years)Receive Fixed RatePay Floating RateEstimated fair value
Derivatives included in other liabilities:   
  Interest rate swap
    agreement- subordinated
    debt
$100,000 1.171.46%SOFR$(3,830)
  Interest rate swap
    agreement- fixed rate
    money market deposits
75,000 1.641.50%SOFR(3,693)
  Interest rate swap
    agreement- fixed rate
    money market deposits
125,000 1.641.50%SOFR(6,154)
     Total$300,000 1.481.48%$(13,677)
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 non-designated derivative financial instruments were as follows:
Years Ended December 31,
 2022 2021 2020 
Included in mortgage banking income:
  Interest rate lock commitments$(5,764)$(27,194)$27,339 
  Forward commitments55,804 25,661 (73,033)
  Futures contracts(36,381)(7,949)8,151 
  Option contracts36 — — 
    Total$13,695 $(9,482)$(37,543)
The following discloses the amount included in other comprehensive loss (income), net of tax, for derivative instruments designated as cash flow hedges for the periods presented: 
Years Ended December 31,
 2022 2021 2020 
Amount of gain (loss) recognized in other comprehensive
   (loss) income, net of tax expense (benefit) of $532, $293 and $(363)
$1,508 $831 $(1,031)
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following discloses the amount of expense included in interest expense on borrowings and deposits, related to these fair value hedging instruments:
Year Ended December 31,
 2022 
Designated fair value hedge:
     Interest expense on deposits$(717)
     Interest expense on borrowings(395)
        Total$(1,112)
Schedule of Derivative Liabilities at Fair Value
The following amounts were recorded on the balance sheet related to cumulative adjustments of fair value hedges as of December 31, 2022:
Line item on the balance sheetCarrying Amount of the Hedged ItemCumulative Decrease in Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Item
Borrowings$95,171 
(1)
$(3,830)
Money market and savings deposits196,520 
(2)
(9,847)
(1) The carrying value also includes unamortized subordinated debt issuance costs of $999.
(2) The carrying value also includes an unaccreted purchase accounting fair value premium of $6,367.
Schedule of Offsetting Assets The following table presents the Company's gross derivative positions as recognized in the consolidated balance sheets as well as the net derivative positions, including collateral pledged to the extent the application of such collateral did not reduce the net derivative liability position below zero, had the Company elected to offset those instruments subject to an enforceable master netting agreement:
Offsetting Derivative AssetsOffsetting Derivative Liabilities
December 31, 2022December 31, 2021December 31, 2022December 31, 2021
Gross amounts recognized$44,273 $4,990 $20,251 $15,733 
Gross amounts offset in the consolidated balance sheets— — — — 
Net amounts presented in the consolidated balance sheets44,273 4,990 20,251 15,733 
Gross amounts not offset in the consolidated balance sheets
Less: financial instruments14,229 4,297 14,229 4,297 
Less: financial collateral pledged— — 6,022 11,436 
Net amounts$30,044 $693 $— $— 
Schedule of Offsetting Liabilities The following table presents the Company's gross derivative positions as recognized in the consolidated balance sheets as well as the net derivative positions, including collateral pledged to the extent the application of such collateral did not reduce the net derivative liability position below zero, had the Company elected to offset those instruments subject to an enforceable master netting agreement:
Offsetting Derivative AssetsOffsetting Derivative Liabilities
December 31, 2022December 31, 2021December 31, 2022December 31, 2021
Gross amounts recognized$44,273 $4,990 $20,251 $15,733 
Gross amounts offset in the consolidated balance sheets— — — — 
Net amounts presented in the consolidated balance sheets44,273 4,990 20,251 15,733 
Gross amounts not offset in the consolidated balance sheets
Less: financial instruments14,229 4,297 14,229 4,297 
Less: financial collateral pledged— — 6,022 11,436 
Net amounts$30,044 $693 $— $—