Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Notional Amounts and Fair Value of Derivatives Designated as Hedging Instruments

The following table presents the notional amounts and fair values of derivatives designated as hedging instruments recorded on the consolidated balance sheets at June 30, 2020 and December 31, 2019. The Corporation pledges cash or securities to cover the negative fair value of derivative instruments. Cash collateral associated with derivative instruments are not added to or netted against the fair value amounts.

			Derivative Assets			Derivative Liabilities
(Dollars in thousands)	Notional Amount		Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
At June 30, 2020
Interest rate swap - cash flow hedge	$	15,880		$	—	Other liabilities	$	695
Total	$	15,880		$	—		$	695
At December 31, 2019
Interest rate swap - cash flow hedge	$	16,286		$	—	Other liabilities	$	235
Total	$	16,286		$	—		$	235

Notional Amounts and Fair Value of Derivatives Not Designated as Hedging Instruments

The following table presents the notional amounts and fair values of derivatives not designated as hedging instruments recorded on the consolidated balance sheets at June 30, 2020 and December 31, 2019:

			Derivative Assets			Derivative Liabilities
(Dollars in thousands)	Notional Amount		Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
At June 30, 2020
Interest rate swap	$	242		$	—	Other liabilities	$	13
Credit derivatives	393,444			—		Other liabilities	912
Interest rate locks with customers	106,956		Other assets	3,453			—
Forward loan sale commitments	111,649			—		Other liabilities	582
Total	$	612,291		$	3,453		$	1,507
At December 31, 2019
Interest rate swap	$	303		$	—	Other liabilities	$	14
Credit derivatives	270,147			—		Other liabilities	176
Interest rate locks with customers	19,966		Other assets	399			—
Forward loan sale commitments	21,846			—		Other liabilities	19
Total	$	312,262		$	399		$	209

Income for Derivatives Designated as Hedging Instruments

The following table presents amounts included in the consolidated statements of income for derivatives designated as hedging instruments for the periods indicated:

	Statement of Income Classification	Three Months Ended				Six Months Ended
		June 30,				June 30,
(Dollars in thousands)		2020		2019		2020		2019
Interest rate swap—cash flow hedge—net interest payments	Interest expense	$	69	$	(14)	$	98	$	(30)
Interest rate swap—fair value hedge—effectiveness	Interest income	—		—		—		1
Total net (loss) gain		$	(69)	$	14	$	(98)	$	31

Income for Derivatives Not Designated as Hedging Instruments

The following table presents amounts included in the consolidated statements of income for derivatives not designated as hedging instruments for the periods indicated:

	Statement of Income Classification	Three Months Ended				Six Months Ended
		June 30,				June 30,
(Dollars in thousands)		2020		2019		2020		2019
Credit derivatives	Other noninterest income	$	1,665	$	318	$	1,805	$	582
Interest rate locks with customers	Net gain on mortgage banking activities	542		343		3,054		308
Forward loan sale commitments	Net gain (loss) on mortgage banking activities	304		(76)		(563)		(47)
Total net gain		$	2,511	$	585	$	4,296	$	843

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

The following table presents amounts included in accumulated other comprehensive (loss) income for derivatives designated as hedging instruments at June 30, 2020 and December 31, 2019:

(Dollars in thousands)	Accumulated Other Comprehensive (Loss) Income	At June 30, 2020		At December 31, 2019
Interest rate swap—cash flow hedge	Fair value, net of taxes	$	(549)	$	(185)
Total		$	(549)	$	(185)