DERIVATIVES (Tables)

6 Months Ended

Jun. 30, 2022

DERIVATIVES

Schedule of outstanding notional balances and fair values of outstanding derivative instruments

			Assets			Liabilities
			Balance			Balance
	Notional		Sheet	Fair		Sheet	Fair
	Amount		Location	Value		Location	Value
		(in thousands)
June 30, 2022:
Derivatives designated as Hedging Instruments
Interest rate swaps	$	100,000	Other assets	$	6,431	Other liabilities	$	—
Derivatives not designated as Hedging Instruments
Derivative loan commitments	$	66,802	Other assets	$	1,187	Other liabilities	$	23
Forward loan sale commitments		64,500	Other assets		158	Other liabilities		216
Interest rate swaps		656,743	Other assets		15,894	Other liabilities		15,894
Risk participation agreements		124,742	Other assets		—	Other liabilities		—
Total				$	23,670		$	16,133
December 31, 2021:
Derivatives designated as Hedging Instruments
Interest rate swaps	$	100,000	Other assets	$	1,663	Other liabilities	$	—
Derivatives not designated as Hedging Instruments
Derivative loan commitments	$	86,134	Other assets	$	1,527	Other liabilities	$	95
Forward loan sale commitments		96,000	Other assets		56	Other liabilities		94
Interest rate swaps		740,235	Other assets		18,874	Other liabilities		19,214
Risk participation agreements		139,109	Other assets		—	Other liabilities		—
Total				$	22,120		$	19,403

Schedule of net gains and losses on derivative instruments

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
	(in thousands)
Derivatives designated as hedging instruments
(Loss) gain in OCI on derivatives (effective portion), net of tax	$	(8,628)	$	(174)	$	(5,824)	$	1,155
(Loss) gain reclassified from OCI into interest income or interest expense (effective portion)	$	71	$	(121)	$	(40)	$	(233)
Derivatives not designated as hedging instruments
Changes in fair value of derivative loan commitments
Mortgage banking income	$	369	$	(1,868)	$	(268)	$	(7,281)
Changes in fair value of forward loan sale commitments
Mortgage banking income		(1,676)		(3,422)		(21)		1,995
Changes in fair value of interest rate swaps
Other income		—		—		330		—
Total	$	(1,307)	$	(5,290)	$	41	$	(5,286)