Derivatives and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Summary of Fair Value of Derivative Assets and Liabilities

This table provides a summary of the fair value of the Company’s derivative assets and liabilities as of September 30, 2020 and December 31, 2019 (in thousands):

	Derivative Assets				Derivative Liabilities
	September 30,		December 31,		September 30,		December 31,
Fair Value	2020		2019		2020		2019
Interest Rate Products:
Derivatives not designated as hedging instruments	$	116,644	$	47,458	$	10,194	$	5,997
Derivatives designated as hedging instruments		121		7,818		—		—
Total	$	116,765	$	55,276	$	10,194	$	5,997

Summary of Amount of Gain (Loss) Recognized in Other Non-Interest Expense in Consolidated Statements of Income Related to Derivative Assets and Liabilities

This table provides a summary of the amount of gain or loss recognized in Other noninterest expense in the Consolidated Statements of Income related to the Company’s derivative assets and liabilities for the three and nine months ended September 30, 2020 and September 30, 2019 (in thousands):

	Amount of Gain (Loss) Recognized
	For the Three Months Ended						For the Nine Months Ended
	September 30,			September 30,			September 30,			September 30,
	2020			2019			2020			2019
Interest Rate Products
Derivatives not designated as hedging instruments	$	10		$	(1,123	)	$	(233	)	$	(3,472	)
Total	$	10		$	(1,123	)	$	(233	)	$	(3,472	)
Interest Rate Products
Derivatives designated as hedging instruments:
Fair value adjustments on derivatives	$	33		$	(35	)	$	(173	)	$	(198	)
Fair value adjustments on hedged items		(32	)		35			173			198
Total	$	1		$	—		$	—		$	—

Summary of Effect of Hedges on AOCI in Consolidated Statements of Comprehensive Income Related to Company's Derivative Assets and Liabilities

These tables provide a summary of the effect of hedges on AOCI in the Consolidated Statements of Comprehensive Income related to the Company’s derivative assets and liabilities for the three and nine months ended September 30, 2020 and September 30, 2019 (in thousands):

	For the Three Months Ended September 30, 2020
Derivatives in Cash Flow Hedging Relationships	(Loss) Gain Recognized in OCI on Derivative			(Loss) Gain Recognized in OCI Included Component			Loss Recognized in OCI Excluded Component			Gain (Loss) Reclassified from AOCI into Earnings			Gain (Loss) Reclassified from AOCI into Earnings Included Component			Loss Reclassified from AOCI into Earnings Excluded Component
Interest rate floor	$	(1,231	)	$	(576	)	$	(655	)	$	1,443		$	2,059		$	(616	)
Interest rate swaps		1,109			1,109			—			(320	)		(320	)		—
Total	$	(122	)	$	533		$	(655	)	$	1,123		$	1,739		$	(616	)

	For the Three Months Ended September 30, 2019
Derivatives in Cash Flow Hedging Relationships	Loss Recognized in OCI on Derivative			Loss Recognized in OCI Included Component			Gain Recognized in OCI Excluded Component		Loss Reclassified from AOCI into Earnings			Loss Reclassified from AOCI into Earnings Included Component			Loss Reclassified from AOCI into Earnings Excluded Component
Interest rate floor	$	(3,633	)	$	(4,166	)	$	533	$	(230	)	$	—		$	(230	)
Interest rate swaps		(3,836	)		(3,836	)		—		(50	)		(50	)		—
Total	$	(7,469	)	$	(8,002	)	$	533	$	(280	)	$	(50	)	$	(230	)

	For the Nine Months Ended September 30, 2020
Derivatives in Cash Flow Hedging Relationships	Gain (Loss) Recognized in OCI on Derivative			Gain (Loss) Recognized in OCI Included Component			Loss Recognized in OCI Excluded Component			Gain (Loss) Reclassified from AOCI into Earnings			Gain (Loss) Reclassified from AOCI into Earnings Included Component			Loss Reclassified from AOCI into Earnings Excluded Component
Interest rate floor	$	28,390		$	34,917		$	(6,527	)	$	1,578		$	3,466		$	(1,888	)
Interest rate swaps		(9,375	)		(9,375	)		—			(709	)		(709	)		—
Total	$	19,015		$	25,542		$	(6,527	)	$	869		$	2,757		$	(1,888	)

	For the Nine Months Ended September 30, 2019
Derivatives in Cash Flow Hedging Relationships	Loss Recognized in OCI on Derivative			Loss Recognized in OCI Included Component			Gain Recognized in OCI Excluded Component		Loss Reclassified from AOCI into Earnings			Loss Reclassified from AOCI into Earnings Included Component			Loss Reclassified from AOCI into Earnings Excluded Component
Interest rate floor	$	(3,633	)	$	(4,166	)	$	533	$	(230	)	$	—		$	(230	)
Interest rate swaps		(8,985	)		(8,985	)		—		(65	)		(65	)		—
Total	$	(12,618	)	$	(13,151	)	$	533	$	(295	)	$	(65	)	$	(230	)