Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Financial Instruments

The following tables summarize the fair value of derivative financial instruments utilized by Horizon:

	Asset Derivatives			Liability Derivatives
	December 31, 2020			December 31, 2020
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Interest rate contracts	Other assets	$	35,388	Other liabilities	$	43,631
Total derivatives designated as hedging instruments		35,388			43,631
Derivatives not designated as hedging instruments
Mortgage loan contracts	Other assets	1,045		Other liabilities	—
Total derivatives not designated as hedging instruments		1,045			—
Total derivatives		$	36,433		$	43,631

	Asset Derivatives			Liability Derivatives
	December 31, 2019			December 31, 2019
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Interest rate contracts	Other assets	$	11,422	Other liabilities	$	15,861
Total derivatives designated as hedging instruments		11,422			15,861
Derivatives not designated as hedging instruments
Mortgage loan contracts	Other assets	264		Other liabilities	38
Total derivatives not designated as hedging instruments		264			38
Total derivatives		$	11,686		$	15,899

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The effect of the derivative instruments on the consolidated statement of income for the 12–month periods ended December 31 is as follows:

	Amount of (Gain) Loss Recognized in Other Comprehensive Income on Derivative (Effective Portion) Years Ended December 31
	2020		2019		2018
Derivatives in cash flow hedging relationship
Interest rate contracts	$	3,005	$	(2,117)	$	(25)

Effect of Derivative Instruments on Consolidated Statement of Income Derivative in Fair Value Hedging Relationship

	Location of gain (loss) recognized on derivative	Amount of Gain (Loss) Recognized on Derivative Years Ended December 31
		2020		2019		2018
Derivative in fair value hedging relationship
Interest rate contracts	Interest income–loans	$	(20,962)	$	(11,380)	$	(852)
Interest rate contracts	Interest income–loans	20,962		11,380		852
Total		$	—	$	—	$	—

	Location of gain (loss) recognized on derivative	Amount of Gain (Loss) Recognized on Derivative Years Ended December 31
		2020		2019		2018
Derivative not designated as hedging relationship
Mortgage contracts	Other income – gain on sale of loans	$	819	$	91	$	(5)