DERIVATIVES (Tables)

9 Months Ended

Sep. 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)
September 30, 2022:
Derivatives designated as Hedging Instruments
Interest rate swaps	$	100,000	Other assets	$	8,669	Other liabilities	$	—
Derivatives not designated as Hedging Instruments
Derivative loan commitments	$	47,154	Other assets	$	901	Other liabilities	$	343
Forward loan sale commitments		42,606	Other assets		1,334	Other liabilities		16
Interest rate swaps		657,517	Other assets		29,243	Other liabilities		29,243
Risk participation agreements		130,875	Other assets		—	Other liabilities		—
Total				$	40,147		$	29,602
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 September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(in thousands)
Derivatives designated as hedging instruments
(Loss) gain in OCI on derivatives (effective portion), net of tax	$	1,610	$	116	$	5,038	$	1,271
(Loss) gain reclassified from OCI into interest income or interest expense (effective portion)	$	420	$	(140)	$	380	$	(373)
Derivatives not designated as hedging instruments
Changes in fair value of derivative loan commitments
Mortgage banking income	$	(606)	$	(1,897)	$	(874)	$	(9,178)
Changes in fair value of forward loan sale commitments
Mortgage banking income		1,377		1,064		1,356		3,059
Changes in fair value of interest rate swaps
Other income		—		—		330		—
Total	$	771	$	(833)	$	812	$	(6,119)