Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

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, 2021			December 31, 2021
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Interest rate contracts	Other assets	$	14,419	Other liabilities	$	18,092
Total derivatives designated as hedging instruments		14,419			18,092
Derivatives not designated as hedging instruments
Mortgage loan contracts	Other assets	1,037		Other liabilities	238
Total derivatives not designated as hedging instruments		1,037			238
Total derivatives		$	15,456		$	18,330

	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

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
	2021		2020		2019
Derivatives in cash flow hedging relationship
Interest rate contracts	$	3,610	$	(3,004)	$	(2,117)

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
		2021		2020		2019
Derivative in fair value hedging relationship
Interest rate contracts	Interest income–loans	$	(19,588)	$	(20,962)	$	(11,380)
Interest rate contracts	Interest income–loans	19,588		20,962		11,380
Total		$	—	$	—	$	—

	Location of gain (loss) recognized on derivative	Amount of Gain (Loss) Recognized on Derivative Years Ended December 31
		2021		2020		2019
Derivative not designated as hedging relationship
Mortgage contracts	Other income – gain on sale of loans	$	(246)	$	819	$	91