Other Derivatives (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of balance sheet category and fair values of the derivative instruments

The table below identifies the balance sheet category and fair value of the Company’s designated cash flow hedge derivative instruments and non-designated hedges as of September 30, 2020 (unaudited) and December 31, 2019.

​	September 30, 2020							December 31, 2019
​	Notional		​			Balance Sheet		Notional		​		Balance Sheet
Derivatives designated as hedging instruments (dollars in thousands)	Amount		Fair Value			Category		Amount		Fair Value		Category
Interest rate product	$	100,000	$	910		Other Liabilities		$	100,000	$	206	Other Liabilities
Derivatives not designated as hedging instruments (dollars in thousands												​
Interest rate product	$	176,851	$	4,306		Other Assets		$	56,806	$	311	Other Assets
Mortgage banking derivatives	409,988		6,015			Other Assets		49,869		280		Other Assets
	586,839		10,321		586,839		10,321	106,675		591
Interest rate product	$	176,851	$	4,561		Other Liabilities		$	56,806	$	319	Other Liabilities
Other Contracts	27,031		136			Other Liabilities		27,384		86		Other Liabilities
Mortgage banking derivatives	$	—	$	—		Other Liabilities		$	49,869	$	66	Other Liabilities
​	$	203,882	$	4,697		Other Liabilities		$	134,059	$	471	Other Liabilities

Schedule of pretax net gains (losses) of designated cash flow hedges

The table below presents the pre-tax net gains (losses) of the Company’s designated cash flow hedges for the three and nine months ended September 30, 2020 and 2019:

The Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income
​	​		Location of Gain or (Loss)	Amount of Gain or (Loss)
​	Amount of Gain (Loss) Recognized in		Recognized from	Reclassified from Accumulated OCI
​	OCI on Derivative		Accumulated Other	into Income
Derivatives in Subtopic 815-20 Hedging	Three Months Ended September 30,		Comprehensive Income into	Three Months Ended September 30,
Relationships (dollars in thousands)	2020	2019	Income	2020	2019
Derivatives in Cash Flow Hedging Relationships	​	​	​	​	​
Interest Rate Products	31	(107)	Interest Expense	(389)	264
Total	31	(107)	​	(389)	264
​	​	​	Location of Gain or (Loss)	​	​
​	​	​	Recognized from
​			Accumulated Other	Amount of Gain or (Loss)
​	Amount of (Loss) Recognized in		Comprehensive Income into	Reclassified from Accumulated OCI
​	OCI on Derivative		Income	into Income
Derivatives in Subtopic 815-20 Hedging	Nine Months Ended September 30,		​	Nine Months Ended September 30,
Relationships (dollars in thousands)	2020	2019	​	2020	2019
Derivatives in Cash Flow Hedging Relationships	​	​	​	​	​
Interest Rate Products	(1,517)	(1,974)	Interest Expense	(755)	1,039
Interest Rate Products	—	—	Gain on sale of investment securities	—	829
Total	(1,517)	(1,974)	​	(755)	1,868

Schedule of the effect of derivative financial instruments on the Consolidated Statements of Operations

The table below presents the effect of the Company’s derivative financial instruments on the Consolidated Statements of Income for the three and nine months ended September 30, 2020 and 2019:

The Effect of Fair Value and Cash Flow Hedge Accounting on the Statements of Income
​	Location and Amount of Gain or (Loss) Recognized in Income on
​	Fair Value and Cash Flow Hedging Relationships (in 000's)
​	Three Months Ended September 30,				Nine Months Ended September 30,
​	2020		2019		2020		2019		2019
​	Interest				Interest		Interest		Gain on sale of
​	Expense				Expense		Expense		investment securities
Total amounts of income and expense line items presented in the consolidated statement of income in which the effects of fair value or cash flow hedges are recorded	$	389	$	264	$	755	$	1,039	$	829
Gain or (loss) on cash flow hedging relationships in Subtopic 815-20
Interest contracts
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	$	389	$	264	$	755	$	1,039	$	—
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income as a result that a forecasted transaction is no longer probable of occurring	$	—	$	—	$	—	$	—	$	829
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income - Included Component	$	389	$	264	$	755	$	1,039	$	829
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income - Excluded Component	$	—	$	—	$	—	$	—	$	—

Effect of Derivatives Not Designated as Hedging Instruments on the Statements of Income
​	​	Amount of Income (Loss)		Amount of Income (Loss)
​	​	Recognized in Income on		Recognized in Income on
​	Location of	Derivative		Derivative
Derivatives Not Designated as Hedging	(Loss) Recognized in	Three Months Ended September 30,		Nine Months Ended September 30,
Instruments under Subtopic 815-20	Income on Derivative	2020	2019	2020	2019
Interest Rate Products	Other income / (expense)	(40)	(7)	(326)	(7)
Mortgage banking derivatives	Other income / (expense)	6,015	(380)	6,015	316
Other Contracts	Other income / (expense)	(13)	(16)	(77)	(58)
Total	​	5,962	(403)	5,612	251

Schedule of the effects of offsetting, and a net presentation of cash flow hedge derivatives

The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s cash flow hedge derivatives as of September 30, 2020 (unaudited) and December 31, 2019.​

As of September 30, 2020

​

​

Gross

Gross Amounts Not Offset in the

​

Gross

Amounts

Net Amounts of Assets presented in the Balance Sheet

Balance Sheet

​

Amounts of

Offset in

​

Cash

​

Offsetting of Derivative Assets (dollars in thousands)

Recognized

the Balance

Financial

Collateral

Net

Assets

Sheet

Instruments

Posted

Amount

Derivatives

$

4,306

$

—

$

4,306

$

—

$

—

$

4,306

​

​

Gross

Gross Amounts Not Offset in the

​

Gross

Amounts

Net Amounts of Liabilities presented in the Balance Sheet

Balance Sheet

​

Amounts of

Offset in

​

Cash

​

​

Recognized

the Balance

Financial

Collateral

Net

Offsetting of Derivative Liabilities (dollars in thousands)

Liabilities

Sheet

Instruments

Posted

Amount

Derivatives

$

5,216

$

—

$

5,216

$

—

$

230

$

4,986

As of December 31, 2019
​	​		Gross			Gross Amounts Not Offset in the
​	Gross		Amounts	Net Amounts of Assets presented in the Balance Sheet		Balance Sheet
​	Amounts of		Offset in			​	Cash		​
Offsetting of Derivative Assets (dollars in thousands)	Recognized		the Balance			Financial	Collateral		Net
	Assets		Sheet			Instruments	Posted		Amount
Derivatives	$	311	—	$	311	—	—		$	311
​	​		Gross			Gross Amounts Not Offset in the
​	Gross		Amounts	Net Amounts of Liabilities presented in the Balance Sheet		Balance Sheet
​	Amounts of		Offset in			​	Cash		​
​	Recognized		the Balance			Financial	Collateral		Net
Offsetting of Derivative Liabilities (dollars in thousands)	Liabilities		Sheet			Instruments	Posted		Amount
Derivatives	$	611	—	$	611	—	$	500	$	111