Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

	Notional Amount				Derivative Assets				Derivative Liabilities
(in thousands)	June 30, 2021		December 31, 2020		June 30, 2021		December 31, 2020		June 30, 2021		December 31, 2020
Derivatives Designated as Hedging Instruments:
Interest rate swap	$	61,962	$	61,962	$	—	$	—	$	4,379	$	5,987
Derivatives not Designated as Hedging Instruments:
Interest rate swap	$	983,018	$	1,026,016	$	19,809	$	28,703	$	19,846	$	28,980
Derivative assets are classified on the balance sheet in other assets. Derivative liabilities are classified on the balance sheet in other liabilities.

The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s financial instruments that are subject to offsetting. The gross amounts of assets or liabilities can be reconciled to the tabular disclosure of fair value. The fair value table above provides the location that financial assets and liabilities are presented on the Balance Sheet.

As of June 30, 2021
							Gross Amounts Not Offset in the Statement of Financial Position
(in thousands)	Gross Amounts Recognized		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets presented in the Statement of Financial Position		Financial Instruments		Fair Value Collateral Posted		Net Amount
Assets:
Interest rate swap	$	19,809	$	—	$	19,809	$	570	$	—	$	19,239
Liabilities:
Interest rate swap	$	24,225	$	—	$	24,225	$	570	$	23,312	$	343
Securities sold under agreements to repurchase	208,795		—		208,795		—		208,795		—
As of December 31, 2020
							Gross Amounts Not Offset in the Statement of Financial Position
(in thousands)	Gross Amounts Recognized		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets presented in the Statement of Financial Position		Financial Instruments		Fair Value Collateral Posted		Net Amount
Assets:
Interest rate swap	$	28,703	$	—	$	28,703	$	2	$	—	$	28,701
Liabilities:
Interest rate swap	$	34,967	$	—	$	34,967	$	2	$	34,903	$	62
Securities sold under agreements to repurchase	271,081		—		271,081		—		271,081		—