Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2022, and December 31, 2021, were as follows:

	September 30, 2022					December 31, 2021
(dollars in thousands)	Notional Amount		Fair Value			Notional Amount		Fair Value
Interest Rate Lock Commitments	$	7,379	$	(40	)	$	45,857	$	1,084
Forward Commitments		6,556		143			58,523		(35	)
Interest Rate Swap Agreements
Receive Fixed/Pay Variable Swaps		1,572,800		(169,645	)		1,400,322		28,742
Pay Fixed/Receive Variable Swaps		1,572,800		37,521			1,400,322		(5,922	)
Foreign Exchange Contracts		96,832		(3,443	)		102,548		(674	)
Conversion Rate Swap Agreement		107,126		—			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 September 30, 2022, and December 31, 2021:

Derivative Financial Instruments	September 30, 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	$	55	$	95	$	1,084	$	—
Forward Commitments		144		1		17		52
Interest Rate Swap Agreements		38,051		170,175		40,733		17,913
Foreign Exchange Contracts		6		3,449		177		851
Total	$	38,256	$	173,720	$	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 and nine months ended September 30, 2022, and September 30, 2021:

	Location of
Derivative Financial Instruments	Net Gains (Losses)	Three Months Ended					Nine Months Ended
Not Designated as Hedging Instruments	Recognized in the	September 30,					September 30,
(dollars in thousands)	Statements of Income	2022		2021			2022			2021
Interest Rate Lock Commitments	Mortgage Banking	$	1	$	2,083		$	(1,012	)	$	6,927
Forward Commitments	Mortgage Banking		289		(53	)		2,510			1,598
Interest Rate Swap Agreements	Other Noninterest Income		126		2,147			6,225			4,848
Foreign Exchange Contracts	Other Noninterest Income		430		401			936			1,120
Total		$	846	$	4,578		$	8,659		$	14,493