Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2019

Summary of the interest-rate swaps designated as cash flow hedges

A summary of the interest-rate swaps designated as cash flow hedges is presented below (dollars in thousands):

	September 30, 2019			December 31, 2018
Notional amount	$	70,000		$	—
Weighted average fixed pay rates		1.80	%		—	%
Weighted average receive rates		2.12	%		—	%
Weighted average maturity		4.11	yrs		—	yrs
Unrealized gains (losses)	$	592		$	—

Interest rate lock commitments and forward sales commitments

Summary of fair values of derivative assets and liabilities recorded in consolidated balance sheet

The fair values of derivative assets and liabilities related to interest rate lock commitments and forward sales commitments recorded in the unaudited Consolidated Balance Sheets are summarized as follows (dollars in thousands):

	September 30, 2019		December 31, 2018
Fair value recorded in other assets	$	1,182	$	624
Fair value recorded in other liabilities		1,707		1,205

Summary of gross gains and losses on derivative assets and liabilities recorded in non-interest income and expense in consolidated statements of income

The gross gains and losses on these derivative assets and liabilities related to interest rate lock commitments and forward sales commitments recorded in non-interest income and expense in the unaudited Consolidated Statements of Income are summarized as follows (dollars in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Gross gains	$	1,655	$	641	$	4,662	$	2,396
Gross (losses)		(1,706)		(561)		(4,773)		(2,669)
Net gains (losses)	$	(51)	$	80	$	(111)	$	(273)

Interest rate swap

Summary of fair values of derivative assets and liabilities recorded in consolidated balance sheet

The fair values of derivative assets and liabilities related to derivatives for customers for interest rate swaps recorded in the unaudited Consolidated Balance Sheets are summarized as follows (dollars in thousands):

		September 30, 2019		December 31, 2018
Fair value recorded in other assets	$	16,643	$	1,438
Fair value recorded in other liabilities		16,643		1,438

Summary of gross gains and losses on derivative assets and liabilities recorded in non-interest income and expense in consolidated statements of income

The gross gains and losses on these derivative assets and liabilities recorded in non-interest income and non-interest expense in the unaudited Consolidated Statements of Income are summarized as follows (dollars in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Gross gains	$	4,695	$	724	$	15,205	$	2,167
Gross losses		(4,695)		(724)		(15,205)		(2,167)
Net gains (losses)	$	—	$	—	$	—	$	—

Interest rate contract

Summary of gross gains and losses on derivative assets and liabilities recorded in non-interest income and expense in consolidated statements of income

The following table presents the net gains (losses) recorded in accumulated other comprehensive income and the unaudited Consolidated Statements of Income relating to cash flow derivative instruments for the periods presented (dollars in thousands):

	Three Months Ended September 30, 2019
		Amount of (gain) loss recognized in OCI (effective portion)		Amount of (gain) loss reclassified from OCI to interest income		Amount of (gain) loss recognized in other non-interest income (ineffective portion)
Interest rate contracts	$	(598)	$	(6)	$	—

	Nine Months Ended September 30, 2019
		Amount of (gain) loss recognized in OCI (effective portion)		Amount of (gain) loss reclassified from OCI to interest income		Amount of (gain) loss recognized in other non-interest income (ineffective portion)
Interest rate contracts	$	(598)	$	(6)	$	—