Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2021

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 condensed consolidated balance sheets at September 30, 2021 and December 31, 2020. 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 September 30, 2021
Interest rate swap - cash flow hedge	$	14,828		$	—	Other liabilities	$	309
Total	$	14,828		$	—		$	309
At December 31, 2020
Interest rate swap - cash flow hedge	$	15,465		$	—	Other liabilities	$	533
Total	$	15,465		$	—		$	533

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 condensed consolidated balance sheets at September 30, 2021 and December 31, 2020:

			Derivative Assets			Derivative Liabilities
(Dollars in thousands)	Notional Amount		Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
At September 30, 2021
Interest rate swap	$	80		$	—	Other liabilities	$	2
Credit derivatives	762,420			—		Other liabilities	350
Interest rate locks with customers	55,227		Other assets	1,256			—
Forward loan sale commitments	84,320		Other assets	167			—
Total	$	902,047		$	1,423		$	352
At December 31, 2020
Interest rate swap	$	179		$	—	Other liabilities	$	8
Credit derivatives	643,556			—		Other liabilities	535
Interest rate locks with customers	77,246		Other assets	2,894			—
Forward loan sale commitments	112,690			—		Other liabilities	752
Total	$	833,671		$	2,894		$	1,295

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				Nine Months Ended
		September 30,				September 30,
(Dollars in thousands)		2021		2020		2021		2020
Interest rate swap—cash flow hedge—net interest payments	Interest expense	$	77	$	78	$	229	$	176
Total net loss		$	(77)	$	(78)	$	(229)	$	(176)

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				Nine Months Ended
		September 30,				September 30,
(Dollars in thousands)		2021		2020		2021		2020
Credit derivatives	Other noninterest income	$	487	$	2,339	$	1,866	$	4,143
Interest rate locks with customers	Net (loss) gain on mortgage banking activities	(406)		1,442		(1,637)		4,496
Forward loan sale commitments	Net gain (loss) on mortgage banking activities	434		108		919		(455)
Total net gain		$	515	$	3,889	$	1,148	$	8,184

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 September 30, 2021 and December 31, 2020:

(Dollars in thousands)	Accumulated Other Comprehensive (Loss) Income	At September 30, 2021		At December 31, 2020
Interest rate swap—cash flow hedge	Fair value, net of taxes	$	(244)	$	(421)
Total		$	(244)	$	(421)