NOTE 16 Derivative Instruments

The Company did not have any derivatives designated as hedging instruments, as of September 30, 2020 and December 31, 2019. The following table presents the amounts recorded in the Company’s consolidated balance sheets, for derivatives not designated as hedging instruments, as of September 30, 2020 and December 31, 2019:


		September 30, 2020				December 31, 2019
		Fair		Notional		Fair		Notional
(dollars in thousands)		Value		Amount		Value		Amount
Asset Derivatives	Consolidated Balance Sheet Location
Interest rate lock commitments	Accrued interest and Other assets	$	13,133	$	401,313	$	1,228	$	45,715
Forward loan sales commitments	Accrued interest and Other assets		1,545		54,310		393		12,784
Total asset derivatives		$	14,678	$	455,623	$	1,621	$	58,499
Liability Derivatives
TBA mortgage backed securities	Accrued expenses and other liabilities	$	1,960	$	380,063	$	109	$	68,500
Total liability derivatives		$	1,960	$	380,063	$	109	$	68,500

The gain (loss) recognized on derivative instruments for the three and nine months ended September 30, 2020 and 2019 was as follows:


		Three months ended				Nine months ended
	Consolidated Statements of	September 30,		September 30,		September 30,		September 30,
(dollars in thousands)	of Income Location	2020		2019		2020		2019
Interest rate lock commitments	Mortgage banking/Other noninterest income	$	5,647	$	(257)	$	11,226	$	2,024
Forward loan sales commitments	Mortgage banking		369		(199)		1,152		454
TBA mortgage backed securities	Mortgage banking		(3,747)		680		(9,099)		(104)
Total gain/(loss) from derivative instruments		$	2,269	$	224	$	3,279	$	2,374

The Company has third party agreements that require a minimum dollar transfer amount upon a margin call. This requirement is dependent on certain specified credit measures. The amount of collateral posted with third parties at September 30, 2020 and December 31, 2019, respectively was $5.1 million and $853 thousand. The amount of collateral posted with third parties was deemed to be sufficient as of those dates to collateralize both the fair market value change as well as any additional amounts that may be required as a result of a change in the specified credit measures.