Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative financial instruments

The following table provides a summary of the Company’s derivatives not designated as hedging instruments as of the dates presented:

	Balance Sheet	December 31, 2020				December 31, 2019
	Location	Notional Amount		Fair Value		Notional Amount		Fair Value
Derivative assets:
Interest rate contracts	Other Assets	$	222,933	$	9,884	$	219,664	$	3,880
Interest rate lock commitments	Other Assets	589,701		19,824		214,975		4,579
Forward commitments	Other Assets	—		—		42,000		39
Totals		$	812,634	$	29,708	$	476,639	$	8,498
Derivative liabilities:
Interest rate contracts	Other Liabilities	$	222,933	$	9,884	$	219,664	$	3,880
Interest rate lock commitments	Other Liabilities	—		—		776		3
Forward commitments	Other Liabilities	716,000		5,090		372,000		1,096
Totals		$	938,933	$	14,974	$	592,440	$	4,979

The following table provides a summary of the Company’s derivatives designated as cash flow hedges as of the dates presented:

	Balance Sheet	December 31, 2020				December 31, 2019
	Location	Notional Amount		Fair Value		Notional Amount		Fair Value
Derivative assets:
Interest rate swaps	Other Assets	$	175,000	$	3,866	$	—	$	—
Derivative liabilities:
Interest rate swaps	Other Liabilities	$	87,000	$	5,924	$	92,000	$	5,021

The following table provides a summary of the Company's derivatives designated as fair value hedges as of the dates presented:

	Balance Sheet	December 31, 2020				December 31, 2019
	Location	Notional Amount		Fair Value		Notional Amount		Fair Value
Derivative liabilities:
Interest rate swaps	Other Liabilities	$	100,000	$	209	$	—	$	—

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 dates presented:

	Year Ended December 31,
	2020		2019		2018
Interest rate contracts:
Included in interest income on loans	$	2,051	$	3,672	$	4,137
Interest rate lock commitments:
Included in mortgage banking income	15,249		882		779
Forward commitments
Included in mortgage banking income	(4,033)		2,506		(3,069)
Total	$	13,267	$	7,060	$	1,847

The following table presents the effects of the Company’s fair value hedge relationships on the Consolidated Statements of Income for the periods presented:

		Amount of Gain (Loss Recognized in Income)
	Income Statement	Year ended December 31,
	Location	2020		2019		2018
Derivative liabilities:
Interest rate swaps - subordinated notes	Interest Expense	$	(209)	$	—	$	—
Derivative liabilities - hedged items:
Interest rate swaps - subordinated notes	Interest Expense	$	209	$	—	$	—

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location

The following table presents the amounts that were recorded in the Consolidated Balance Sheets related to cumulative basis adjustments for fair value hedges for the as of the dates presented:

	Carrying Amount of the Hedged Liability				Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of the Hedged Liability
Balance Sheet Location	December 31, 2020		December 31, 2019		December 31, 2020		December 31, 2019
Long-term debt	$	98,114	$	—	$	209	$	—

Offsetting Assets

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 as of the dates presented:

	Offsetting Derivative Assets				Offsetting Derivative Liabilities
	December 31, 2020		December 31, 2019		December 31, 2020		December 31, 2019
Gross amounts recognized	$	3,866	$	61	$	21,107	$	9,974
Gross amounts offset in the consolidated balance sheets	—		—		—		—
Net amounts presented in the consolidated balance sheets	3,866		61		21,107		9,974
Gross amounts not offset in the consolidated balance sheets
Financial instruments	3,866		61		3,866		61
Financial collateral pledged	—		—		14,042		8,698
Net amounts	$	—	$	—	$	3,199	$	1,215

Offsetting Liabilities

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 as of the dates presented:

	Offsetting Derivative Assets				Offsetting Derivative Liabilities
	December 31, 2020		December 31, 2019		December 31, 2020		December 31, 2019
Gross amounts recognized	$	3,866	$	61	$	21,107	$	9,974
Gross amounts offset in the consolidated balance sheets	—		—		—		—
Net amounts presented in the consolidated balance sheets	3,866		61		21,107		9,974
Gross amounts not offset in the consolidated balance sheets
Financial instruments	3,866		61		3,866		61
Financial collateral pledged	—		—		14,042		8,698
Net amounts	$	—	$	—	$	3,199	$	1,215