Derivative Instruments and Hedge Activities (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Summary of Derivative Financial Instruments and Classification on Consolidated Statements of Financial Condition

The following tables present the fair value of the Company’s derivative financial instruments and classification on the Consolidated Statements of Financial Condition as of September 30, 2020 and December 31, 2019:

	September 30, 2020						December 31, 2019
			Fair Value						Fair Value
	Notional Amount		Other Assets		Other Liabilities		Notional Amount		Other Assets		Other Liabilities
Derivatives not designated as hedging instruments
Other interest rate derivatives	$	373,782	$	19,133	$	20,307	$	332,056	$	7,960	$	8,507
Other credit derivatives		8,653		—		20		9,302		—		12
Total derivatives	$	382,435	$	19,133	$	20,327	$	341,358	$	7,960	$	8,519

Summary of Net Gains (Losses) Recorded in Accumulated Other Comprehensive Income (Loss) and Consolidated Statements of Operations Relating to Cash Flow Derivative Instruments

The following table reflects the net gains (losses) recorded in accumulated other comprehensive income (loss) and the Consolidated Statements of Operations relating to the cash flow derivative instruments for the nine months ended: 

	September 30, 2020							September 30, 2019
	Amount of Loss Recognized in OCI		Amount of Loss Reclassified from OCI to Income as an Increase to Interest Expense			Amount of Gain (Loss) Recognized in Other Non-Interest Income		Amount of Loss Recognized in OCI			Amount of Gain Reclassified from OCI to Income as a Decrease to Interest Expense		Amount of Gain (Loss) Recognized in Other Non-Interest Income
Interest rate swaps	$	—	$	(64	)	$	—	$	(5,484	)	$	1,643	$	—

Summary of Other Interest Rate Derivatives

The following table reflects other interest rate derivatives as of September 30, 2020:

Notional amounts	$	373,782
Derivative assets fair value		19,133
Derivative liabilities fair value		20,307
Weighted average pay rates		4.48	%
Weighted average receive rates		2.31	%
Weighted average maturity	6.1 years

Summary of Amounts Included in Non-Interest Income in Consolidated Statements of Operations Relating to Derivative Instruments not Designated in Hedging Relationship

The following table reflects amounts included in non-interest income in the Consolidated Statements of Operations relating to derivative instruments that are not designated in a hedging relationship for the three and nine months ended September 30, 2020 and 2019:

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2020		2019			2020			2019
Other interest rate derivatives	$	113	$	(220	)	$	(627	)	$	(592	)
Other credit derivatives		3		66			(8	)		62
Total	$	116	$	(154	)	$	(635	)	$	(530	)

Summary of Company's Interest Rate Derivative and Offsetting Positions

The Company records interest rate derivatives subject to master netting agreements at their gross value and does not offset derivative asset and liabilities on the Consolidated Statements of Financial Condition. The table below summarizes the Company’s interest rate derivatives and offsetting positions as of: 

	September 30, 2020						December 31, 2019
	Derivative Assets Fair Value			Derivative Liabilities Fair Value			Derivative Assets Fair Value			Derivative Liabilities Fair Value
Gross amounts recognized	$	19,133		$	20,327		$	7,960		$	8,519
Less: Amounts offset in the Consolidated Statements of    Financial Condition		—			—			—			—
Net amount presented in the Consolidated Statements of    Financial Condition	$	19,133		$	20,327		$	7,960		$	8,519
Gross amounts not offset in the Consolidated Statements of    Financial Condition
Offsetting derivative positions		—			—			(1	)		(1	)
Collateral posted		(19,133	)		(20,327	)		(7,959	)		(8,518	)
Net credit exposure	$	—		$	—		$	—		$	—