Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts and Estimated Fair Values of Interest Rate Derivative Contracts Outstanding

The notional amounts and estimated fair values of interest rate derivative contracts are presented in the following table. The fair values of interest rate derivative contracts are estimated utilizing internal valuation methods with observable market data inputs, or as determined by the Chicago Mercantile Exchange (“CME”) for centrally cleared derivative contracts. CME rules legally characterize variation margin payments for centrally cleared derivatives as settlements of the derivatives' exposure rather than collateral. As a result, the variation margin payment and the related derivative instruments are considered a single unit of account for accounting and financial reporting purposes. Variation margin, as determined by the CME, is settled daily. As a result, derivative contracts that clear through the CME have an estimated fair value of zero as of March 31, 2022 and December 31, 2021.

	March 31, 2022				December 31, 2021
	Notional Amount		Estimated Fair Value		Notional Amount		Estimated Fair Value
Derivatives designated as hedges of fair value:
Financial institution counterparties:
Loan/lease interest rate swaps – assets	$	1,807	$	1	$	—	$	—
Loan/lease interest rate swaps – liabilities	280		(3)		2,426		(34)
Non-hedging interest rate derivatives:
Financial institution counterparties:
Loan/lease interest rate swaps – assets	697,834		15,311		247,592		1,207
Loan/lease interest rate swaps – liabilities	447,742		(6,184)		928,756		(19,142)
Loan/lease interest rate caps – assets	265,930		8,110		270,431		3,239
Customer counterparties:
Loan/lease interest rate swaps – assets	447,742		10,275		928,756		39,864
Loan/lease interest rate swaps – liabilities	697,834		(25,437)		247,592		(2,846)
Loan/lease interest rate caps – liabilities	265,930		(8,110)		270,431		(3,239)

Schedule of Weighted-Average Rates Paid and Received for Interest Rate Swaps Outstanding

The weighted-average rates paid and received for interest rate swaps outstanding at March 31, 2022 were as follows:

	Weighted-Average
	Interest Rate Paid		Interest Rate Received
Interest rate swaps:
Fair value hedge loan/lease interest rate swaps	2.11	%	0.26	%
Non-hedging interest rate swaps – financial institution counterparties	3.69		2.07
Non-hedging interest rate swaps – customer counterparties	2.07		3.69

Schedule of Notional Amounts and Estimated Fair Values of Commodity Derivative Positions

The notional amounts and estimated fair values of non-hedging commodity swap and option derivative positions outstanding are presented in the following table. We obtain dealer quotations and use internal valuation methods with observable market data inputs to value our commodity derivative positions.

		March 31, 2022			December 31, 2021
	Notional Units	Notional Amount	Estimated Fair Value		Notional Amount	Estimated Fair Value
Financial institution counterparties:
Oil – assets	Barrels	2,988	$	9,735	4,809	$	14,721
Oil – liabilities	Barrels	9,767	(189,416)		7,032	(73,594)
Natural gas – assets	MMBTUs	14,564	1,813		15,947	4,143
Natural gas – liabilities	MMBTUs	27,474	(50,244)		29,446	(21,249)
Customer counterparties:
Oil – assets	Barrels	9,767	190,776		7,046	74,437
Oil – liabilities	Barrels	2,988	(9,710)		4,796	(14,294)
Natural gas – assets	MMBTUs	27,474	50,423		29,446	21,456
Natural gas – liabilities	MMBTUs	14,564	(1,811)		15,947	(4,124)

Schedule of Foreign Exchange Contracts, Statement of Financial Position

The notional amounts and fair values of open foreign currency forward contracts were as follows:

		March 31, 2022			December 31, 2021
	Notional Currency	Notional Amount	Estimated Fair Value		Notional Amount	Estimated Fair Value
Financial institution counterparties:
Forward contracts – assets	EUR	2,400	$	18	1,900	$	29
Forward contracts – assets	CAD	—	—		658	—
Forward contracts – liabilities	EUR	6,500	(111)		—	—
Forward contracts – liabilities	CAD	658	(6)		—	—
Customer counterparties:
Forward contracts – assets	EUR	6,500	122		—	—
Forward contracts – assets	CAD	658	10		658	4
Forward contracts – liabilities	EUR	2,400	(14)		1,900	(55)

Schedule of Amounts Related to Interest Rate Derivatives Designated as Hedges of Fair Value

Amounts included in the consolidated statements of income related to interest rate derivatives designated as hedges of fair value were as follows:

	Three Months Ended March 31,
	2022		2021
Commercial loan/lease interest rate swaps:
Amount of gain (loss) included in interest income on loans	$	(13)	$	(28)
Amount of (gain) loss included in other non-interest expense	2		(3)

Schedule of Amounts Related to Non-Hedging Interest Rate and Commodity Derivatives

Amounts included in the consolidated statements of income related to non-hedge related derivative instruments are presented in the table below.

	Three Months Ended March 31,
	2022		2021
Non-hedging interest rate derivatives:
Other non-interest income	$	516	$	1,587
Other non-interest expense	—		(1)
Non-hedging commodity derivatives:
Other non-interest income	929		1,154
Non-hedging foreign currency derivatives:
Other non-interest income	18		30