Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative financial instruments

The following table provides details on the Company’s derivative financial instruments as of the dates presented:

		Fair Value
	Balance Sheet Location	March 31, 2020		December 31, 2019
Derivative assets:
Designated as hedging instruments
Interest rate swap	Other Assets	$	555	$	—
Totals		$	555	$	—
Not designated as hedging instruments:
Interest rate contracts	Other Assets	$	10,910	$	3,880
Interest rate lock commitments	Other Assets	26,437		4,579
Forward commitments	Other Assets	215		39
Totals		$	37,562	$	8,498
Derivative liabilities:
Designated as hedging instruments:
Interest rate swaps	Other Liabilities	$	9,604	$	5,021
Totals		$	9,604	$	5,021
Not designated as hedging instruments:
Interest rate contracts	Other Liabilities	$	10,910	$	3,880
Interest rate lock commitments	Other Liabilities	—		3
Forward commitments	Other Liabilities	16,742		1,096
Totals		$	27,652	$	4,979

Gains (losses) on derivative financial instruments included in the Consolidated Statements of Income

Gains (losses) included in the Consolidated Statements of Income related to the Company’s derivative financial instruments were as follows as of the periods presented:

	Three Months Ended
	March 31,
	2020		2019
Derivatives not designated as hedging instruments:
Interest rate contracts:
Included in interest income on loans	$	736	$	1,046
Interest rate lock commitments:
Included in mortgage banking income	21,821		1,222
Forward commitments
Included in mortgage banking income	15,470		901
Total	$	38,027	$	3,169

Gross and net derivative positions, including pledged collateral

The following table presents the Company’s gross derivative positions as recognized in the Consolidated Balance Sheets as well as the net derivative positions, including collateral pledged to the extent the application of such collateral did not reduce the net derivative liability position below zero, had the Company elected to offset those instruments subject to an enforceable master netting agreement:

	Offsetting Derivative Assets				Offsetting Derivative Liabilities
	March 31, 2020		December 31, 2019		March 31, 2020		December 31, 2019
Gross amounts recognized	$	770	$	61	$	37,256	$	9,974
Gross amounts offset in the Consolidated Balance Sheets	—		—		—		—
Net amounts presented in the Consolidated Balance Sheets	770		61		37,256		9,974
Gross amounts not offset in the Consolidated Balance Sheets
Financial instruments	770		61		770		61
Financial collateral pledged	—		—		19,604		8,698
Net amounts	$	—	$	—	$	16,882	$	1,215