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Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule Of Derivative Instruments, Cumulative Basis Adjustments The following table presents amounts that were recorded on the condensed consolidated balance sheets related to cumulative basis adjustments for interest rate swap derivatives designated as fair value accounting hedges as of June 30, 2021 and December 31, 2020.  
(in thousands)Carrying amount of the hedged assetCumulative amount of fair value hedging adjustment included in the carrying amount of the hedged assets
Line item in the condensed consolidated balance sheets in which the hedged item is includedJune 30, 2021December 31, 2020June 30, 2021December 31, 2020
Securities available-for-sale (1)
77,363 124,210 2,834 6,064 
(1) These amounts include the amortized cost basis of closed portfolios used to designate hedging relationships in which the hedged item is the last layer expected to be remaining at the end of the hedging relationship. The designated hedged items were $50.0 million and $88.2 million, at June 30, 2021 and December 31, 2020.
Schedule Of Derivative Instruments Of Fixed Rate Receivables
The following tables present a summary of interest rate swap derivatives designated as fair value accounting hedges of fixed-rate receivables used in the Company’s asset/liability management activities at June 30, 2021 and December 31, 2020, identified by the underlying interest rate-sensitive instruments.

(dollars in thousands)

 
June 30, 2021
Notional ValueWeighted- Average Remaining Maturity (years)Weighted-Average Ratio
Instruments Associated WithFair ValueReceivePay
Securities available-for-sale$50,000 3.3$(2,835)3-month LIBOR2.33 %
Total at June 30, 2021$50,000 3.3$(2,835)3-month LIBOR2.33 %

In March 2021, the Company terminated fair value hedging relationships with a notional value of $38.2 million associated with agency mortgage-backed securities available-for-sale, which resulted in swap termination payments to counterparties totaling $1.9 million. The corresponding securities fair value hedging adjustment as of the date of termination is being amortized over the remaining lives of the designated securities.
(dollars in thousands)


December 31, 2020
Notional ValueWeighted- Average Remaining Maturity (years)Weighted-Average Ratio
Instruments Associated WithFair ValueReceivePay
Securities available-for-sale88,200 3.1(6,072)3-month LIBOR2.54 %
Total at December 31, 2020$88,200 3.1$(6,072)3-month LIBOR2.54 %
Schedule Of Derivative Instruments Of Variable Rate Liabilities
The following tables present a summary of interest rate swap derivatives designated as cash flow accounting hedges of variable-rate liabilities used in the Company’s asset/liability management activities at June 30, 2021 and December 31, 2020.

(dollars in thousands)

 
June 30, 2021
NotionalWeighted- Average Remaining MaturityWeighted-Average Ratio
Cash Flow HedgesValue(years)Fair ValueReceivePay
Interest rate swaps$110,000 5.6$(11,349)3-month LIBOR2.88 %
Interest rate swaps100,000 2.5(6,103)1-month LIBOR2.88 %
(dollars in thousands)


December 31, 2020
NotionalWeighted- Average Remaining MaturityWeighted-Average Ratio
Cash Flow HedgesValue(years)Fair ValueReceivePay
Interest rate swaps$110,000 6.1$(15,727)3-month LIBOR2.88 %
Interest rate swaps100,000 3.0(7,951)1-month LIBOR2.88 %
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The following table presents the notional amount and fair value of interest rate swaps, IRLCs and forward contracts utilized by the Company at June 30, 2021 and December 31, 2020.
 June 30, 2021December 31, 2020
(in thousands)Notional
Amount		Fair
Value		Notional
Amount		Fair
Value
Asset Derivatives    
Derivatives not designated as hedging instruments    
IRLCs$47,493 $818 $108,095 $3,361 
Total contracts
$47,493 $818 $108,095 $3,361 
Liability Derivatives
Derivatives designated as hedging instruments
Interest rate swaps associated with loans$— $— $— $— 
Interest rate swaps associated with securities available-for-sale50,000 (2,835)88,200 (6,072)
Interest rate swaps associated with liabilities210,000 (17,451)210,000 (23,678)
Derivatives not designated as hedging instruments
Forward contracts46,750 (17)107,500 (640)
Total contracts
$306,750 $(20,303)$405,700 $(30,390)
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The following table presents the effects of the Company’s cash flow hedge relationships on the condensed consolidated statements of comprehensive income during the three and six months ended June 30, 2021 and 2020.

 Amount of Gain (Loss )Recognized in Other Comprehensive Income Loss in The Three Months EndedAmount of Loss Recognized in Other Comprehensive Income Gain (Loss) in The Six Months Ended
(in thousands)June 30, 2021June 30, 2020June 30, 2021June 30, 2020
Interest rate swap agreements$(54)$(509)$6,226 $(13,967)
Schedule of Derivative Instruments in Statements of Income Fair Value The following table summarizes the periodic changes in the fair value of derivatives not designated as hedging instruments on the condensed consolidated statements of income for the three and six months ended June 30, 2021 and 2020.
 Amount of Gain / (Loss) Recognized in the Three Months EndedAmount of Gain / (Loss) Recognized in the Six Months Ended
(in thousands)June 30, 2021June 30, 2020June 30, 2021June 30, 2020
Asset Derivatives    
Derivatives not designated as hedging instruments    
IRLCs$(292)$(1,781)$(2,541)$(628)
Liability Derivatives    
Derivatives not designated as hedging instruments   
IRLCs— — — — 
Forward contracts$(738)$2,281 $623 $136 
Schedule Of Effects Of Interest Rate Swap Agreements On Statements Of Income
The following table presents the effects of the Company’s interest rate swap agreements on the condensed consolidated statements of income during the three and six months ended June 30, 2021 and 2020.
(in thousands)

Line item in the condensed consolidated statements of income
Three Months EndedSix Months Ended
June 30, 2021June 30, 2020June 30, 2021June 30, 2020
Interest income
Loans$— $(1,221)$— $(2,445)
Securities - taxable— (159)(253)(250)
Securities - non-taxable(271)(164)(537)(230)
Total interest income
(271)(1,544)(790)(2,925)
Interest expense    
Deposits692 593 1,370 899 
Other borrowed funds753 589 1,483 911 
Total interest expense
1,445 1,182 2,853 1,810 
Net interest income
$(1,716)$(2,726)$(3,643)$(4,735)