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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Balance Sheet Category and Fair Values of Derivatives At December 31, 2021, HTLF had no derivative instruments designated as cash flow hedges.
Notional AmountFair Value Balance Sheet Category
December 31, 2022
Interest rate swap$500,000 $13 Other Assets
The table below identifies the notional amount, fair value and balance sheet category of HTLF's fair value hedges at December 31, 2022, and December 31, 2021, in thousands:
Notional AmountFair ValueBalance Sheet Category
December 31, 2022
Fair value hedges$1,185 $54 Other Assets
December 31, 2021
Fair value hedges$16,755 $(1,208)Other Liabilities

The table below identifies the gains and losses recognized on HTLF's fair value hedges for the years ended December 31, 2022, and December 31, 2021, in thousands:
Year Ended December 31,
20222021
Gain (loss) recognized in interest income on fair value hedges$1,262 $1,272 
Notional AmountFair ValueBalance Sheet Category
December 31, 2022
Embedded derivatives $6,028 $135 Other Assets
December 31, 2021
Embedded derivatives $7,496 $(317)Other Liabilities

The table below identifies the gains and losses recognized on HTLF's embedded derivatives for the years ended December 31, 2022 and December 31, 2021, in thousands:
Year Ended December 31,
20222021
Gain (loss) recognized in other noninterest income on embedded derivatives$452 $(997)
Gains and Losses Recognized on Derivative Instruments Designated as Cash Flow Hedges
The table below identifies the gains recognized on HTLF's derivative instrument designated as a cash flow hedge for the year ended December 31, 2022, in thousands:
Recognized in OCIReclassified from AOCI into Income
Amount of Gain (Loss)CategoryAmount of Gain (Loss)
December 31, 2022
Interest rate swap $13 Interest income$487 
Balance Sheet Category and Fair Value of Derivative Instruments Designated as Cash Flow Hedges The table below identifies the balance sheet category and fair values of HTLF's derivative instruments designated as loan swaps at December 31, 2022 and 2021, in thousands:
Notional
Amount
Fair
Value
Balance Sheet
Category
Weighted
Average
Receive
Rate
Weighted
Average
Pay
Rate
December 31, 2022
Customer interest rate swaps$819,662 $46,091 Other Assets4.23 %6.76 %
Customer interest rate swaps819,662 (46,091)Other Liabilities6.76 %4.23 %
December 31, 2021
Customer interest rate swaps$463,069 $23,574 Other Assets4.44 %2.35 %
Customer interest rate swaps463,069 (23,574)Other Liabilities2.35 %4.44 %
Balance Sheet Category and Fair Values of Derivative Instruments Not Designated as Hedging Instruments
The table below identifies the balance sheet category and fair values of HTLF's other free standing derivative instruments not designated as hedging instruments at December 31, 2022, and December 31, 2021, in thousands:
 
Notional
Amount
Fair
Value
Balance Sheet
Category
December 31, 2022
Interest rate lock commitments (mortgage)$9,340 $174 Other Assets
Forward commitments6,400 47 Other Assets
Forward commitments5,750 (99)Other Liabilities
Undesignated interest rate swaps6,028 (135)Other Liabilities
December 31, 2021
Interest rate lock commitments (mortgage)$37,046 $1,306 Other Assets
Forward commitments19,000 32 Other Assets
Forward commitments35,500 (95)Other Liabilities
Undesignated interest rate swaps7,496 317 Other Assets

HTLF recognizes gains and losses on other free standing derivatives in two separate income statement categories. Interest rate lock commitments and forward commitments are recognized in net gains on sale of loans held for sale and undesignated interest rate swaps are recognized in other noninterest income. The table below identifies the gains and losses recognized in income on HTLF's other free standing derivative instruments not designated as hedging instruments for the years ended December 31, 2022, and December 31, 2021, in thousands:
Year Ended December 31,
 20222021
Interest rate lock commitments (mortgage)$(1,828)$(2,345)
Forward commitments15 32 
Forward commitments(4)602 
Undesignated interest rate swaps(452)997