Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

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):

	March 31, 2020			December 31, 2019
Notional amount	$	70,000		$	70,000
Weighted average fixed pay rates		1.80	%		1.80	%
Weighted average variable 3 month LIBOR receive rates		0.77	%		1.90	%
Weighted average maturity		3.61	yrs		3.86	yrs
Unrealized gains (losses), net of tax	$	(2,448)		$	(200)

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):

		March 31, 2020		December 31, 2019
Fair value recorded in other assets	$	35,832	$	12,354
Fair value recorded in other liabilities		35,832		12,354

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 March 31,
		2020		2019
Gross gains	$	23,478	$	3,713
Gross losses		(23,478)		(3,713)
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 period presented (dollars in thousands):

	Three Months Ended March 31, 2020
		Amount of (gain) loss recognized in OCI		Amount of (gain) loss reclassified from OCI to interest income
Interest rate contracts	$	2,237	$	(11)

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):

	March 31, 2020		December 31, 2019
Fair value recorded in other assets	$	5,146	$	1,046
Fair value recorded in other liabilities		7,344		2,187

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 March 31,
		2020		2019
Gross gains	$	6,670	$	1,078
Gross (losses)		(7,344)		(1,118)
Net gains (losses)	$	(674)	$	(40)