Derivatives and hedging activities (Tables)

9 Months Ended

Sep. 30, 2020

Derivatives and hedging activities

Schedule of fair value of derivative financial instruments and balance sheet classification

			Asset Derivatives			Asset Derivatives			Liability Derivatives			Liability Derivatives
			As of September 30, 2020			As of December 31, 2019 (1)			As of September 30, 2020			As of December 31, 2019 (2)
		Notional	Balance Sheet			Balance Sheet			Balance Sheet			Balance Sheet
		Amount	Location	Fair Value		Location	Fair Value		Location	Fair Value		Location	Fair Value
Derivatives designated as hedging instruments
Interest Rate Floor	$	25,000	Other Assets	$	1,845	Other Assets	$	944
Cash Flow Swap	$	50,000							Other Liabilities		592
Total derivatives designated as hedging instruments				$	1,845		$	944			592
Derivatives not designated as hedging instruments
Interest Rate Swaps (3)	$	355,594	Other Assets	$	16,346	Other Assets	$	4,728	Other Liabilities	$	16,343	Other Liabilities	$	4,680
Total derivatives not designated as hedging instruments				$	16,346		$	4,728		$	16,343		$	4,680

(1) Assets amount does not include accrued interest receivable of $211.

(2) Liabilities amount does not include accrued interest payable of $211.

(3) Notional amount of interest rate swaps at September 30, 2019 $126,574.

Schedule of effect of fair value and cash flow hedge accounting on accumulated other comprehensive income

Location of

Amount of

Amount of

Amount of

Amount of

Amount of

Gain or (Loss)

Amount of

Gain (Loss)

Gain (Loss)

Gain (Loss)

Gain (Loss)

Loss

Recognized from

Gain (Loss)

Reclassified

Reclassified

Recognized in

Recognized in

Recognized in

Accumulated

Reclassified

from Accumulated

from Accumulated

Derivatives in

OCI on

OCI Included

OCI Excluded

Other Comprehensive

from Accumulated

OCI into Income

OCI into Income

Hedging

Derivative

Component

Component

Income into

OCI into Income

Included Component

Excluded Component

Relationships

September 30, 2020

Income

September 30, 2020

Derivatives in Cash Flow Hedging Relationships

Cash Flow Swap

$

2

$

2

$

Interest Expense

$

(20)

$

(20)

$

Interest Rate Floor (*)

$

(25)

$

(5)

$

(20)

Interest Income

$

133

$

149

$

(16)

Total

$

(23)

$

(3)

$

(20)

$

113

$

129

$

(16)

Location of

Amount of

Amount of

Amount of

Amount of

Amount of

Gain or (Loss)

Amount of

Gain

Loss

Gain

Gain

Gain

Recognized from

Loss

Reclassified

Reclassified

Recognized in

Recognized in

Recognized in

Accumulated

Reclassified

from Accumulated

from Accumulated

Derivatives in

OCI on

OCI Included

OCI Excluded

Other Comprehensive

from Accumulated

OCI into Income

OCI into Income

Hedging

Derivative

Component

Component

Income into

OCI into Income

Included Component

Excluded Component

Relationships

September 30, 2019

Income

September 30, 2019

Derivatives in Cash Flow Hedging Relationships

Interest Rate Floor (*)

$

138

$

186

$

(48)

Interest Income

$

(16)

$

$

(16)

* Amounts disclosed are gross and not net of taxes.

Schedule of effect of derivative financial instruments on Income Statement

		Location and Amount of Gain or (Loss) Recognized in
		Income on Fair Value and Cash Flow Hedging
		Relationships
		2020		2020		2019	2019
		Interest Income		Interest Expense		Interest Income	Interest Expense
Total amounts of income and expense line items presented in the statements of income and comprehensive income in which the effects of fair value or cash flow hedges are recorded	$	133	$	(20)	$	(48)
The effects of fair value and cash flow hedging:
Gain or (loss) on cash flow hedging relationships
Interest contracts
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	$	133	$	(20)	$	(48)
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - included component	$	149
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - excluded component	$	(16)			$	(48)

Schedule of gain (loss) on derivative instruments not designated as hedging instruments

		Amount of Gain		Amount of Loss		Amount of Gain		Amount of Gain
		Recognized in		Recognized in		Recognized in		Recognized in
	Location of Gain or (Loss)	Income		Income		Income		Income
	Recognized in Income on	Three Months Ended		Nine Months Ended		Three Months Ended		Nine Months Ended
Derivatives Not Designated as Hedging Instruments	Derivative	September 30, 2020		September 30, 2020		September 30, 2019		September 30, 2019
Interest Rate Swaps	Other noninterest income	$	97	$	(44)	$	355	$	9
Fee Income	Other income	$	1,131	$	1,991	$		$	1,136

Schedule of offsetting derivatives

Offsetting of Derivative Assets
as of September 30, 2020
						Gross Amounts Not Offset in the Balance Sheet
	Gross			Net Amounts
	Amounts of		Gross Amounts	of Assets
	Recognized		Offset in the	presented in the		Financial	Cash Collateral	Net
	Assets		Balance Sheet	Balance Sheet		Instruments	Received	Amount
Derivatives	$	18,191	$	$	18,191	$		$	18,191
Offsetting of Derivative Liabilities
as of September 30, 2020
						Gross Amounts Not Offset in the Balance Sheet
	Gross			Net Amounts
	Amounts of		Gross Amounts	of Assets
	Recognized		Offset in the	presented in the		Financial	Cash Collateral	Net
	Assets		Balance Sheet	Balance Sheet		Instruments	Received	Amount
Derivatives	$	16,935	$	$	16,935	$		$	16,935
Offsetting of Derivative Assets
as of December 31, 2019
						Gross Amounts Not Offset in the Balance Sheet
	Gross			Net Amounts
	Amounts of		Gross Amounts	of Assets
	Recognized		Offset in the	presented in the		Financial	Cash Collateral	Net
	Assets		Balance Sheet	Balance Sheet		Instruments	Received	Amount
Derivatives	$	5,672	$	$	5,672	$		$	5,672
Offsetting of Derivative Liabilities
as of December 31, 2019
						Gross Amounts Not Offset in the Balance Sheet
	Gross			Net Amounts
	Amounts of		Gross Amounts	of Assets
	Recognized		Offset in the	presented in the		Financial	Cash Collateral	Net
	Assets		Balance Sheet	Balance Sheet		Instruments	Received	Amount
Derivatives	$	4,680	$	$	4,680	$		$	4,680