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Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Notional Amounts and Fair Values of Derivative Financial Instruments
The following table presents a summary of the notional amounts and fair values of derivative financial instruments:
 June 30, 2023December 31, 2022
 Notional
Amount		Asset
(Liability)
Fair Value		Notional
Amount		Asset
(Liability)
Fair Value
 (dollars in thousands)
Interest Rate Locks with Customers
Positive fair values$136,789 $465 $70,836 $182 
Negative fair values3,405 (11)4,939 (51)
Forward Commitments
Positive fair values36,500 399 — — 
Negative fair values— — 10,000 (147)
Interest Rate Derivatives with Customers
Positive fair values410,749 5,655 171,317 3,337 
Negative fair values3,925,331 (283,189)3,802,480 (280,401)
Interest Rate Derivatives with Dealer Counterparties
Positive fair values 3,925,331 167,164 3,802,480 161,956 
Negative fair values410,749 (6,022)171,317 (3,703)
Interest Rate Derivatives used in Cash Flow Hedges
Positive fair values200,000 396 600,000 1,321 
Negative fair values1,300,000 (2,002)1,000,000 (12,163)
Foreign Exchange Contracts with Customers
Positive fair values21,527 234 11,123 571 
Negative fair values20,839 (238)3,672 (85)
Foreign Exchange Contracts with Correspondent Banks
Positive fair values20,166 313 4,887 101 
Negative fair values5,397 (37)8,280 (499)
Summary of Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income
The following table presents the effect of fair value and cash flow hedge accounting on AOCI:

Amount of Gain (Loss) Recognized in OCI on Derivative Amount of Gain (Loss) Recognized in OCI Included ComponentAmount of Gain (Loss) Recognized in OCI Excluded ComponentLocation of Gain (Loss) Recognized from AOCI into IncomeAmount of Gain (Loss) Reclassified from AOCI into Income Amount of Gain (Loss) Reclassified from AOCI into Income Included ComponentAmount of Gain (Loss) Reclassified from AOCI into Income Excluded Component
(dollars in thousands)
Derivatives in Cash Flow Hedging Relationships: 
Three months ended June 30, 2023
Interest Rate Products$(7,251)$(7,251)$— Interest Income$(7,032)$(7,032)$— 
Three months ended June 30, 2022
Interest Rate Products(11,100)(11,100)— Interest Income434 434 — 
Six months ended June 30, 2023
Interest Rate Products5,284 5,284 — Interest Income(14,189)(14,189)— 
Six months ended June 30, 2022
Interest Rate Products(51,663)(51,663)— Interest Income2,382 2,382 — 
The following table presents the effect of fair value and cash flow hedge accounting on the income statement:

Consolidated Statements of Income Classification
Interest Income
Three months ended June 30Six months ended June 30
2023202220232022
(dollars in thousands)
Total amounts of income line items presented in the consolidated statements of income in which the effects of fair value or cash flow hedges are recorded$(7,032)$434 $(14,189)$2,382 
Interest contracts:
Amount of gain (loss) reclassified from AOCI into income(7,032)434 (14,189)2,382 
Amount of gain or (loss) reclassified from AOCI into income as a result that a forecasted transaction is no longer probable of occurring— — — — 
Amount of gain (loss) reclassified from AOCI into income - included component(7,032)434 (14,189)2,382 
Amount of gain (loss) reclassified from AOCI into income - excluded component— — — — 
Summary of Fair Value Gains and Losses on Derivative Financial Instruments
The following table presents a summary of the net fair value gains (losses) on derivative financial instruments:
Consolidated Statements of Income ClassificationThree months ended June 30Six months ended June 30
 2023202220232022
(dollars in thousands)
Mortgage banking derivatives(1)
Mortgage banking income$475 $(2,095)$869 $(1,710)
Interest rate derivativesOther expense— — — — 
Foreign exchange contractsOther income93 (6)184 41 
Net fair value gains/(losses) on derivative financial instruments$568 $(2,101)$1,053 $(1,669)
(1) Includes interest rate locks with customers and forward commitments.
Summary of Corporation's Mortgage Loans Held for Sale The following table presents a summary of mortgage loans held for sale and the impact of the fair value election on the consolidated financial statements as of the periods shown:
June 30,
2023		December 31,
2022
 (dollars in thousands)
Amortized cost(1)
$14,531 $7,180 
Fair value14,673 7,264 
(1) Cost basis of mortgage loans held for sale represents the unpaid principal balance.
Summary of Offsetting Derivative Assets The following table presents the Corporation's financial instruments that are eligible for offset, and the effects of offsetting, on the consolidated balance sheets:
Gross AmountsGross Amounts Not Offset
Recognized on the Consolidated
on the Balance Sheets
ConsolidatedFinancialCashNet
Balance Sheets
Instruments(1)
Collateral(2)
Amount
(dollars in thousands)
June 30, 2023
Interest rate derivative assets$173,215 $(9,022)$— $164,193 
Foreign exchange derivative assets with correspondent banks313 (313)— — 
Total $173,528 $(9,335)$— $164,193 
Interest rate derivative liabilities$291,213 $(7,416)$(118,789)$165,008 
Foreign exchange derivative liabilities with correspondent banks37 (313)— (276)
Total$291,250 $(7,729)$(118,789)$164,732 
December 31, 2022
Interest rate derivative assets$166,614 $(8,071)$— $158,543 
Foreign exchange derivative assets with correspondent banks101 (101)— — 
Total$166,715 $(8,172)$— $158,543 
Interest rate derivative liabilities$296,267 $(2,771)$(127,638)$165,858 
Foreign exchange derivative liabilities with correspondent banks499 (101)— 398 
Total$296,766 $(2,872)$(127,638)$166,256 

(1) For interest rate derivative assets, amounts represent any derivative liability fair values that could be offset in the event of counterparty or customer default.
For interest rate derivative liabilities, amounts represent any derivative asset fair values that could be offset in the event of counterparty or customer default.
(2) Amounts represent cash collateral received from the counterparty or posted by the Corporation on interest rate derivative transactions and foreign exchange
contracts with financial institution counterparties. Interest rate derivatives with customers are collateralized by the same collateral securing the underlying
loans to those borrowers. Cash and securities collateral amounts are included in the table only to the extent of the net derivative fair values.
Summary of Offsetting Derivative Liabilities The following table presents the Corporation's financial instruments that are eligible for offset, and the effects of offsetting, on the consolidated balance sheets:
Gross AmountsGross Amounts Not Offset
Recognized on the Consolidated
on the Balance Sheets
ConsolidatedFinancialCashNet
Balance Sheets
Instruments(1)
Collateral(2)
Amount
(dollars in thousands)
June 30, 2023
Interest rate derivative assets$173,215 $(9,022)$— $164,193 
Foreign exchange derivative assets with correspondent banks313 (313)— — 
Total $173,528 $(9,335)$— $164,193 
Interest rate derivative liabilities$291,213 $(7,416)$(118,789)$165,008 
Foreign exchange derivative liabilities with correspondent banks37 (313)— (276)
Total$291,250 $(7,729)$(118,789)$164,732 
December 31, 2022
Interest rate derivative assets$166,614 $(8,071)$— $158,543 
Foreign exchange derivative assets with correspondent banks101 (101)— — 
Total$166,715 $(8,172)$— $158,543 
Interest rate derivative liabilities$296,267 $(2,771)$(127,638)$165,858 
Foreign exchange derivative liabilities with correspondent banks499 (101)— 398 
Total$296,766 $(2,872)$(127,638)$166,256 

(1) For interest rate derivative assets, amounts represent any derivative liability fair values that could be offset in the event of counterparty or customer default.
For interest rate derivative liabilities, amounts represent any derivative asset fair values that could be offset in the event of counterparty or customer default.
(2) Amounts represent cash collateral received from the counterparty or posted by the Corporation on interest rate derivative transactions and foreign exchange
contracts with financial institution counterparties. Interest rate derivatives with customers are collateralized by the same collateral securing the underlying
loans to those borrowers. Cash and securities collateral amounts are included in the table only to the extent of the net derivative fair values.