Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of the notional amount and fair value of the derivative financial instruments

The notional amount and fair value of the Company’s derivative financial instruments as of March 31, 2020, and December 31, 2019, were as follows:

	March 31, 2020						December 31, 2019
(dollars in thousands)	Notional Amount			Fair Value			Notional Amount			Fair Value
Interest Rate Lock Commitments		$	82,433	$	3,930			$	48,677	$	1,280
Forward Commitments		75,861		(1,247		)		82,735		(182		)
Interest Rate Swap Agreements
Receive Fixed/Pay Variable Swaps		1,035,227		95,661				802,389		26,070
Pay Fixed/Receive Variable Swaps		1,035,227		(18,911		)		802,389		(4,777		)
Foreign Exchange Contracts		88,211		107				85,499		163
Conversion Rate Swap Agreement		98,180		—				114,499		—

Derivative financial instruments, their fair values, and balance sheet location

The following table presents the Company’s derivative financial instruments, their fair values, and their location in the consolidated statements of condition as of March 31, 2020, and December 31, 2019:

Derivative Financial Instruments	March 31, 2020				December 31, 2019
Not Designated as Hedging Instruments 1	Asset		Liability		Asset		Liability
(dollars in thousands)	Derivatives		Derivatives		Derivatives		Derivatives
Interest Rate Lock Commitments	$	3,930	$	—	$	1,280	$	—
Forward Commitments	52		1,299		23		205
Interest Rate Swap Agreements	95,918		19,168		27,344		6,051
Foreign Exchange Contracts	691		584		284		121
Total	$	100,591	$	21,051	$	28,931	$	6,377

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Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the consolidated statements of condition.

Derivative financial instruments and the amount and location of the net gains or losses recognized in the statements of income

The following table presents the Company’s derivative financial instruments and the amount and location of the net gains or losses recognized in the consolidated statements of income for the three months ended March 31, 2020, and March 31, 2019:

	Location of
Derivative Financial Instruments	Net Gains (Losses)	Three Months Ended
Not Designated as Hedging Instruments	Recognized in the	March 31,
(dollars in thousands)	Statements of Income	2020			2019
Interest Rate Lock Commitments	Mortgage Banking	$	6,303		$	1,725
Forward Commitments	Mortgage Banking	(2,184		)	(592		)
Interest Rate Swap Agreements	Other Noninterest Income	6,438			1,136
Foreign Exchange Contracts	Other Noninterest Income	714			914
Total		$	11,271		$	3,183