Schedule of Derivative Instruments |
The notional amounts and estimated fair values of derivative positions outstanding are presented in the following table: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2021 | | December 31, 2020 | | | | Estimated Fair Value | | | | Estimated Fair Value | (in thousands) | Notional Amount | | Asset Derivative | Liability Derivative | | Notional Amount | | Asset Derivative | Liability Derivative | Non-hedging derivatives: | | | | | | | | | | Financial institution counterparties: | | | | | | | | | | Commercial loan/lease interest rate swaps | $ | 1,902,259 | | | $ | 948 | | $ | 64,195 | | | $ | 1,922,956 | | | $ | 71 | | $ | 96,246 | | Commercial loan/lease interest rate caps | 217,739 | | | 65 | | — | | | 565,634 | | | 34 | | — | | Foreign currency forward contracts | 5,015 | | | 31 | | — | | | 6,667 | | | 214 | | 78 | | Customer counterparties: | | | | | | | | | | Commercial loan/lease interest rate swaps | 1,902,259 | | | 64,195 | | 948 | | | 1,922,956 | | | 96,246 | | 71 | | Commercial loan/lease interest rate caps | 217,739 | | | — | | 65 | | | 565,634 | | | — | | 34 | | Foreign currency forward contracts | 5,015 | | | — | | 31 | | | 6,667 | | | 78 | | 214 | | Economic hedging derivatives to hedge: | | | | | | | | | | Residential MSRs: | | | | | | | | | | Interest rate swap futures | 3,000 | | | 19 | | 4 | | | 320,000 | | | 474 | | — | | Forward sale commitments | 1,000 | | | 3 | | — | | | 155,000 | | | 551 | | — | | Loans held for sale: | | | | | | | | | | Loan purchase commitments | 2,800 | | | 36 | | — | | | 332,145 | | | 5,123 | | 8 | | Forward sale commitments | 20,000 | | | — | | 52 | | | 485,326 | | | — | | 2,675 | | Gross derivatives | | | 65,297 | | 65,295 | | | | | 102,791 | | 99,326 | | Offsetting derivative assets/liabilities | | | (948) | | (948) | | | | | (71) | | (71) | | Net derivatives included in the consolidated balance sheets | | | $ | 64,349 | | $ | 64,347 | | | | | $ | 102,720 | | $ | 99,255 | |
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