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Derivatives and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of fair value of derivative financial instruments on consolidated balance sheet
The table below presents the fair value of derivative financial instruments as of the dates indicated as well as their classification on the consolidated balance sheets (in thousands):
December 31, 2021December 31, 2020
Notional AmountFair ValueNotional AmountFair Value
Derivative AssetsDerivative LiabilitiesDerivative AssetsDerivative Liabilities
Derivatives designated as hedging instruments:
Cash flow hedge of subordinated debt$100,000 $6,389 $— $100,000 $3,378 $— 
Cash flow hedge of trust preferred securities20,000 — — 20,000 — — 
Fair value hedge of brokered CDs10,000 — — 20,000 — — 
Total130,000 6,389 — 140,000 3,378 — 
Derivatives not designated as hedging instruments:
Customer derivative positions1,206,145 28,656 10,663 1,329,271 72,508 17 
Dealer offsets to customer derivative positions1,230,885 974 9,232 1,329,271 1 24,614 
Risk participations69,385 16 7 48,843 28 12 
Mortgage banking - loan commitment110,897 3,450 — 253,243 10,751 — 
Mortgage banking - forward sales commitment201,419 67 202 325,145 — 1,964 
Bifurcated embedded derivatives51,935 2,928 — 51,935 — 1,449 
Dealer offsets to bifurcated embedded derivatives51,935 — 5,041 51,935 — 947 
Total2,922,601 36,091 25,145 3,389,643 83,288 29,003 
Total derivatives$3,052,601 $42,480 $25,145 $3,529,643 $86,666 $29,003 
Total gross derivative instruments$42,480 $25,145 $86,666 $29,003 
Less: Amounts subject to master netting agreements(694)(694)(114)(114)
Less: Cash collateral received/pledged(6,620)(14,148)(3,200)(27,092)
Net amount$35,166 $10,303 $83,352 $1,797 
Schedule of effect of derivatives in hedging relationships consolidated statements of income
The table below presents the effect of derivatives in hedging relationships on the consolidated statements of income (in thousands).
Year Ended December 31,
202120202019
Total interest expense presented in the consolidated statements of income$(29,760)$(56,237)$(83,312)
Effect of hedging relationships on interest expense:
Net income (expense) recognized on fair value hedges210 281 (360)
Net expense recognized on cash flow hedges (1) (2)
(608)(359)— 
(1) Excludes 2019 amortization of losses related to de-designated cash flow hedges. See Note 17 for further detail.
(2) Includes $472,000 and $329,000 of premium amortization expense excluded from the assessment of hedge effectiveness for the years ended December 31, 2021 and 2020.
Schedule of carrying amount and cumulative fair value hedging adjustments on hedged liability
The table below presents the carrying amount of hedged fixed-rate brokered time deposits and cumulative fair value hedging adjustments included in the carrying amount of the hedged liability for the periods presented (in thousands).
December 31,
20212020
Balance Sheet LocationCarrying amount of Assets (Liabilities)Hedge Accounting Basis AdjustmentCarrying amount of Assets (Liabilities)Hedge Accounting Basis Adjustment
Deposits$(10,026)$(28)$(20,216)$(235)
Schedule of gains and losses recognized in income on derivatives not designated as hedging instruments
The table below presents the gains and losses recognized in income on derivatives not designated as hedging instruments for the periods indicated (in thousands). 
 Income Statement LocationYear Ended December 31,
 202120202019
Customer derivatives and dealer offsetsOther noninterest income$3,302 $6,732 $2,878 
Bifurcated embedded derivatives and dealer offsetsOther noninterest income433 (63)212 
De-designated hedgesOther noninterest income— — (193)
Mortgage banking derivativesMortgage loan revenue(1,805)(7,873)(1,797)
Risk participationsOther noninterest income(90)(340)(3)
Total gains and losses $1,840 $(1,544)$1,097