Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Financial Instruments

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

	Asset Derivatives			Liability Derivatives
	March 31, 2022			March 31, 2022
	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Interest rate contracts – cash flow hedges	Other assets	$	—	Other liabilities	$	927
Total derivatives designated as hedging instruments		—			927
Derivatives not designated as hedging instruments
Interest rate contracts – fair value hedges	Other assets	11,083		Other liabilities	11,083
Mortgage loan contracts	Other assets	—		Other liabilities	586
Commitments to originate mortgage loans	Other assets	361		Other liabilities	—
Total derivatives not designated as hedging instruments		11,444			11,669
Total derivatives		$	11,444		$	12,596

	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 – cash flow hedges	Other assets	$	—	Other liabilities	$	3,673
Total derivatives designated as hedging instruments		—			3,673
Derivatives not designated as hedging instruments
Interest rate contracts – fair value hedges	Other assets	14,419		Other liabilities	14,419
Mortgage loan contracts	Other assets	—		Other liabilities	238
Commitments to originate mortgage loans	Other assets	1,037		Other liabilities	—
Total derivatives not designated as hedging instruments		15,456			14,657
Total derivatives		$	15,456		$	18,330

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

The effect of the derivative instruments on the condensed consolidated statements of comprehensive income for the three–month periods ending March 31 is as follows:

	Amount of Gain Recognized in Other Comprehensive Income on Derivative
	Three Months Ended
	March 31, 2022		March 31, 2021
Derivatives in cash flow hedging relationship
Interest rate contracts	$	2,169	$	2,412

The effect of the derivative instruments on the condensed consolidated statements of income for the three–month periods ending March 31 is as follows:

Schedule of 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
		Three Months Ended
		March 31, 2022		March 31, 2021
Derivative designated as hedging instruments
Interest rate contracts – cash flow hedges	Interest expense – Borrowings	$	340	$	509
Total		$	340	$	509

	Location of loss recognized on derivative	Amount of Loss Recognized on Derivative
		Three Months Ended
		March 31, 2022		March 31, 2021
Derivative not designated as hedging instruments
Mortgage loan contracts	Non–interest income – Gain on sale of loans	(348)		(700)
Commitments to originate mortgage loans	Non–interest income – Gain on sale of loans	(675)		(541)
Total		$	(1,023)	$	(1,241)