Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2022

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, 2022 and December 31, 2021. 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, 2022
Interest rate swaps - cash flow hedge	$	263,949		$	—	Other liabilities	$	8,958
Total	$	263,949		$	—		$	8,958
At December 31, 2021
Interest rate swap - cash flow hedge	$	14,611		$	—	Other liabilities	$	202
Total	$	14,611		$	—		$	202

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, 2022 and December 31, 2021:

			Derivative Assets			Derivative Liabilities
(Dollars in thousands)	Notional Amount		Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
At September 30, 2022
Credit derivatives	$	795,022		$	—	Other liabilities	$	358
Interest rate locks with customers	19,316			—		Other liabilities	424
Forward loan sale commitments	28,402		Other assets	671			—
Total	$	842,740		$	671		$	782
At December 31, 2021
Interest rate swap	$	46		$	—	Other liabilities	$	2
Credit derivatives	755,576			—		Other liabilities	381
Interest rate locks with customers	33,876		Other assets	765			—
Forward loan sale commitments	55,476		Other assets	87			—
Total	$	844,974		$	852		$	383

Income for Derivatives Designated as Hedging Instruments

The following table presents amounts included in the condensed 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)		2022		2021		2022		2021
Interest rate swap—cash flow hedge—net interest payments	Interest (income) expense	$	(422)	$	77	$	(1,040)	$	229
Total net gain (loss)		$	422	$	(77)	$	1,040	$	(229)

Income for Derivatives Not Designated as Hedging Instruments

The following table presents amounts included in the condensed 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)		2022		2021		2022		2021
Credit derivatives	Other noninterest income	$	316	$	487	$	1,355	$	1,866
Interest rate locks with customers	Net loss on mortgage banking activities	(862)		(406)		(1,189)		(1,637)
Forward loan sale commitments	Net gain on mortgage banking activities	640		434		584		919
Total net gain		$	94	$	515	$	750	$	1,148

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, 2022 and December 31, 2021:

(Dollars in thousands)	Accumulated Other Comprehensive (Loss) Income	At September 30, 2022		At December 31, 2021
Interest rate swap—cash flow hedge	Fair value, net of taxes	$	(7,076)	$	(159)
Total		$	(7,076)	$	(159)