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Derivative Instruments and Hedging Activities
 12 Months Ended
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES
The following table indicates the amounts representing the value of derivative assets and derivative liabilities at December 31:
 
Derivatives (included in
Other Assets)
 
Derivatives (included
in Other Liabilities)
(dollars in thousands)
2019
 
2018
 
2019
 
2018
Derivatives not Designated as Hedging Instruments
 
 
 
 
 
 
 
Interest Rate Swap Contracts—Commercial Loans
 
 
 
 
 
 
 
Fair value
$
25,647

 
$
5,504

 
$
25,615

 
$
5,340

Notional amount
740,762

 
325,750

 
740,762

 
325,750

Collateral posted
—

 
160

 
26,127

 
—

Interest Rate Lock Commitments—Mortgage Loans
 
 
 
 
 
 
 
Fair value
321

 
251

 
—

 
—

Notional amount
9,829

 
6,054

 
—

 
—

Forward Sale Contracts—Mortgage Loans
 
 
 
 
 
 
 
Fair value
1

 
55

 
—

 
—

Notional amount
12,750

 
6,000

 
—

 
—


Presenting offsetting derivatives that are subject to legally enforceable netting arrangements with the same party is permitted. For example, we may have a derivative asset and a derivative liability with the same counterparty to a swap transaction and are permitted to offset the asset position and the liability position resulting in a net presentation.
The following table indicates the gross amounts of commercial loan swap derivative assets and derivative liabilities, the amounts offset and the carrying values in the Consolidated Balance Sheets at December 31:
 
Derivatives (included
in Other Assets)
 
Derivatives (included
in Other Liabilities)
(dollars in thousands)
2019
 
2018
 
2019
 
2018
Derivatives not Designated as Hedging Instruments
 
 
 
 
 
 
 
Gross amounts recognized
$
26,146

 
$
8,733

 
$
26,114

 
$
8,569

Gross amounts offset
(499
)
 
(3,229
)
 
(499
)
 
(3,229
)
Net amounts presented in the Consolidated Balance Sheets
25,647

 
5,504

 
25,615

 
5,340

Gross amounts not offset(1)
—

 
(160
)
 
(26,127
)
 
—

Net Amount
$
25,647

 
$
5,344

 
$
(512
)
 
$
5,340

(1)Amounts represent collateral received/posted for the periods presented.
The following table indicates the gain or loss recognized in income on derivatives for the years ended December 31:
(dollars in thousands)
2019

 
2018

 
2017

Derivatives not Designated as Hedging Instruments
 
 
 
 
 
Interest rate swap contracts—commercial loans
$
(132
)
 
$
145

 
$
17

Interest rate lock commitments—mortgage loans
70

 
25

 
(11
)
Forward sale contracts—mortgage loans
(54
)
 
60

 
52

Total Derivative (Loss)/Gain
$
(116
)
 
$
230

 
$
58