Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

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, 2022, and December 31, 2021, were as follows:

	March 31, 2022					December 31, 2021
(dollars in thousands)	Notional Amount		Fair Value			Notional Amount		Fair Value
Interest Rate Lock Commitments	$	13,195	$	117		$	45,857	$	1,084
Forward Commitments		15,448		231			58,523		(35	)
Interest Rate Swap Agreements
Receive Fixed/Pay Variable Swaps		1,535,468		(48,455	)		1,400,322		28,742
Pay Fixed/Receive Variable Swaps		1,535,468		(2,092	)		1,400,322		(5,922	)
Foreign Exchange Contracts		100,917		(2,035	)		102,548		(674	)
Conversion Rate Swap Agreement		134,747		—			131,672		—

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, 2022, and December 31, 2021:

Derivative Financial Instruments	March 31, 2022				December 31, 2021
Not Designated as Hedging Instruments 1	Asset		Liability		Asset		Liability
(dollars in thousands)	Derivatives		Derivatives		Derivatives		Derivatives
Interest Rate Lock Commitments	$	172	$	54	$	1,084	$	—
Forward Commitments		237		7		17		52
Interest Rate Swap Agreements		12,208		62,755		40,733		17,913
Foreign Exchange Contracts		314		2,349		177		851
Total	$	12,931	$	65,165	$	42,011	$	18,816

¹ Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the consolidated statements of condition. The Company’s free-standing derivative financial instruments are required to be carried at their fair value on the Company’s 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, 2022, and March 31, 2021:

	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	2022			2021
Interest Rate Lock Commitments	Mortgage Banking	$	(1,079	)	$	773
Forward Commitments	Mortgage Banking		1,908			3,227
Interest Rate Swap Agreements	Other Noninterest Income		4,081			1,604
Foreign Exchange Contracts	Other Noninterest Income		274			271
Total		$	5,184		$	5,875