Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2023

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 March 31, 2023 and December 31, 2022. 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 March 31, 2023
Interest rate swap - cash flow hedge	$	250,000		$	—	Other liabilities	$	6,282
Total	$	250,000		$	—		$	6,282
At December 31, 2022
Interest rate swap - cash flow hedge	$	250,000		$	—	Other liabilities	$	8,647
Total	$	250,000		$	—		$	8,647

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 March 31, 2023 and December 31, 2022:

			Derivative Assets			Derivative Liabilities
(Dollars in thousands)	Notional Amount		Balance Sheet Classification	Fair Value		Balance Sheet Classification	Fair Value
At March 31, 2023
Credit derivatives	$	792,838		$	—	Other liabilities	$	330
Interest rate locks with customers	21,208		Other assets	265			—
Forward loan sale commitments	26,633			—		Other liabilities	6
Total	$	840,679		$	265		$	336
At December 31, 2022
Credit derivatives	$	815,469		$	—	Other liabilities	$	360
Interest rate locks with customers	10,269		Other assets	119			—
Forward loan sale commitments	15,306		Other assets	29			—
Total	$	841,044		$	148		$	360

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
		March 31,
(Dollars in thousands)		2023		2022
Interest rate swap—cash flow hedge—net interest payments	Interest expense	$	1,060	$	68
Total net loss		$	(1,060)	$	(68)

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
		March 31,
(Dollars in thousands)		2023		2022
Credit derivatives	Other noninterest income	$	86	$	450
Interest rate locks with customers	Net gain (loss) on mortgage banking activities	146		(1,010)
Forward loan sale commitments	Net (loss) gain on mortgage banking activities	(34)		719
Total net gain		$	198	$	159

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 March 31, 2023 and December 31, 2022:

(Dollars in thousands)	Accumulated Other Comprehensive (Loss) Income	At March 31, 2023		At December 31, 2022
Interest rate swap—cash flow hedge	Fair value, net of taxes	$	(4,962)	$	(6,831)
Total		$	(4,962)	$	(6,831)