Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2022

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, 2022				December 31, 2021
	Location	Notional Amount		Fair Value		Notional Amount		Fair Value
Derivative assets:
Interest rate contracts	Other Assets	$	258,646	$	11,354	$	185,447	$	4,711
Interest rate lock commitments	Other Assets	62,901		1,231		310,941		5,304
Forward commitments	Other Assets	84,000		484		280,000		667
Totals		$	405,547	$	13,069	$	776,388	$	10,682
Derivative liabilities:
Interest rate contracts	Other Liabilities	$	258,646	$	11,354	$	185,447	$	4,711
Interest rate lock commitments	Other Liabilities	19,488		98		19,961		43
Forward commitments	Other Liabilities	73,000		1,198		320,000		736
Totals		$	351,134	$	12,650	$	525,408	$	5,490

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, 2022				December 31, 2021
	Location	Notional Amount		Fair Value		Notional Amount		Fair Value
Derivative assets:
Interest rate swaps	Other Assets	$	130,000	$	24,514	$	100,000	$	7,016
Interest rate collars	Other Assets	200,000		464		—		—
Totals		$	330,000	$	24,978	$	100,000	$	7,016
Derivative liabilities:
Interest rate swaps	Other Liabilities	$	—	$	—	$	62,000	$	2,902
Interest rate collars	Other Liabilities	250,000		746		—		—
Totals		$	250,000	$	746	$	62,000	$	2,902

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, 2022				December 31, 2021
	Location	Notional Amount		Fair Value		Notional Amount		Fair Value
Derivative liabilities:
Interest rate swaps	Other Liabilities	$	100,000	$	19,789	$	100,000	$	5,411

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,
	2022		2021		2020
Interest rate contracts:
Included in interest income on loans	$	2,470	$	2,027	$	2,051
Interest rate lock commitments:
Included in mortgage banking income	(4,128)		(14,563)		15,249
Forward commitments
Included in mortgage banking income	(645)		5,021		(4,033)
Total	$	(2,303)	$	(7,515)	$	13,267

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	2022		2021		2020
Derivative liabilities:
Interest rate swaps - subordinated notes	Interest Expense	$	(14,378)	$	(5,202)	$	(209)
Derivative liabilities - hedged items:
Interest rate swaps - subordinated notes	Interest Expense	$	14,378	$	5,202	$	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 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, 2022		December 31, 2021		December 31, 2022		December 31, 2021
Long-term debt	$	78,881	$	93,085	$	19,789	$	5,411

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, 2022		December 31, 2021		December 31, 2022		December 31, 2021
Gross amounts recognized	$	36,493	$	8,007	$	22,056	$	13,436
Gross amounts offset in the consolidated balance sheets	—		—		—		—
Net amounts presented in the consolidated balance sheets	36,493		8,007		22,056		13,436
Gross amounts not offset in the consolidated balance sheets
Financial instruments	22,056		7,208		22,056		7,208
Financial collateral pledged	—		—		—		6,228
Net amounts	$	14,437	$	799	$	—	$	—

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, 2022		December 31, 2021		December 31, 2022		December 31, 2021
Gross amounts recognized	$	36,493	$	8,007	$	22,056	$	13,436
Gross amounts offset in the consolidated balance sheets	—		—		—		—
Net amounts presented in the consolidated balance sheets	36,493		8,007		22,056		13,436
Gross amounts not offset in the consolidated balance sheets
Financial instruments	22,056		7,208		22,056		7,208
Financial collateral pledged	—		—		—		6,228
Net amounts	$	14,437	$	799	$	—	$	—