XML 44 R35.htm IDEA: XBRL DOCUMENT v3.22.2.2
Derivative Instruments (Tables)
 9 Months Ended
Sep. 30, 2022
Derivative Instrument Detail [Abstract]  
Schedule Of Notional Amounts Of Derivative Instruments

(In thousands)
September 30, 2022December 31, 2021
Interest rate swaps$1,980,368 $2,229,419 
Interest rate floors500,000 — 
Interest rate caps152,784 152,058 
Credit risk participation agreements536,188 485,633 
Foreign exchange contracts7,435 5,119 
 Mortgage loan commitments
984 21,787 
Mortgage loan forward sale contracts669 1,165 
Forward TBA contracts1,000 21,000 
Total notional amount$3,179,428 $2,916,181 
Schedule Of Fair Values Of Derivative Instruments
The fair values of the Company's derivative instruments, whose notional amounts are listed above, are shown in the table below. Information about the valuation methods used to determine fair value is provided in Note 17 on Fair Value Measurements in the 2021 Annual Report on Form 10-K.

The Company's policy is to present its derivative assets and derivative liabilities on a gross basis in its consolidated balance sheets, and these are reported in other assets and other liabilities. Certain collateral posted to and from the Company's clearing counterparty has been applied to the fair values of the cleared swaps, such that at September 30, 2022 in the table below, the positive fair values of cleared swaps were reduced by $30.7 million. At December 31, 2021, positive fair values of cleared swaps were reduced by $587 thousand and the negative fair values of cleared swaps were reduced by $29.7 million.

 Asset DerivativesLiability Derivatives
Sept. 30, 2022Dec. 31, 2021Sept. 30, 2022Dec. 31, 2021
(In thousands)    
  Fair Value  Fair Value
Derivatives designated as hedging instruments:
   Interest rate floors$13,385 $— $— $— 
Total derivatives designated as hedging instruments$13,385 $— $— $— 
Derivative instruments not designated as hedging instruments:
   Interest rate swaps$22,256 $40,752 $(52,989)$(11,606)
   Interest rate caps2,524 147 (2,524)(147)
   Credit risk participation agreements36 84 (94)(277)
   Foreign exchange contracts191 77 (156)(45)
   Mortgage loan commitments5 764 (5)— 
   Mortgage loan forward sale contracts5 5 — (1)
   Forward TBA contracts58 13 — (25)
Total derivatives not designated as hedging instruments$25,075 $41,842 $(55,768)$(12,101)
Total$38,460 $41,842 $(55,768)$(12,101)
Summary of Cash Flow Hedge Activity [Table Text Block]
The pre-tax effects of derivative instruments on the consolidated statements of income and consolidated statements of comprehensive income are shown in the tables below.



Amount of Gain or (Loss) Recognized in OCI
Location of Gain (Loss) Reclassified from AOCI into IncomeAmount of Gain (Loss) Reclassified from AOCI into Income
(In thousands)TotalIncluded ComponentExcluded ComponentTotalIncluded ComponentExcluded Component
For the Three Months Ended September 30, 2022
Derivatives in cash flow hedging relationships:
Interest rate floors$(3,464)$— $(3,464)Interest and fees on loans$(6,118)$(7,745)$1,627 
Total$(3,464)$— $(3,464)Total$(6,118)$(7,745)$1,627 
For the Nine Months Ended September 30, 2022
Derivatives in cash flow hedging relationships:
Interest rate floors$(3,464)$— $(3,464)Interest and fees on loans$(18,322)$(22,998)$4,676 
Total$(3,464)$— $(3,464)Total$(18,322)$(22,998)$4,676 
For the Three Months Ended September 30, 2021
Derivatives in cash flow hedging relationships:
Interest rate floors$— $— $— Interest and fees on loans$(6,141)$(7,691)$1,550 
Total$— $— $— Total$(6,141)$(7,691)$1,550 
For the Nine Months Ended September 30, 2021
Derivatives in cash flow hedging relationships:
Interest rate floors$— $— $— Interest and fees on loans$(18,024)$(22,623)$4,599 
Total$— $— $— Total$(18,024)$(22,623)$4,599 
Summary Of The Effects Of Derivative Instruments On Consolidated Statements Of Income


Location of Gain or (Loss) Recognized in Consolidated Statements of Income Amount of Gain or (Loss) Recognized in Income on Derivatives

For the Three Months Ended September 30For the Nine Months Ended September 30
(In thousands)2022202120222021
Derivative instruments:
  Interest rate swapsOther non-interest income$88 $24 $1,770 $1,974 
  Interest rate capsOther non-interest income— — 16 15 
  Credit risk participation agreementsOther non-interest income122 47 30 27 
  Foreign exchange contractsOther non-interest income3 (22)3 62 
  Mortgage loan commitmentsLoan fees and sales(230)(309)(764)(1,716)
  Mortgage loan forward sale contractsLoan fees and sales5 (10)1 18 
  Forward TBA contractsLoan fees and sales117 (184)1,783 1,676 
Total$105 $(454)$2,839 $2,056 
Balance Sheet Offsetting, Derivatives [Table Text Block]
Gross Amounts Not Offset in the Balance Sheet
(In thousands)Gross Amount RecognizedGross Amounts Offset in the Balance SheetNet Amounts Presented in the Balance SheetFinancial Instruments Available for OffsetCollateral
Received/
Pledged		Net Amount
September 30, 2022
Assets:
Derivatives subject to master netting agreements
$38,357 $— $38,357 $(113)$(35,763)$2,481 
Derivatives not subject to master netting agreements
103 — 103 
Total derivatives$38,460 $— $38,460 
Liabilities:
Derivatives subject to master netting agreements
$55,681 $— $55,681 $(113)$— $55,568 
Derivatives not subject to master netting agreements
87 — 87 
Total derivatives$55,768 $— $55,768 
December 31, 2021
Assets:
Derivatives subject to master netting agreements
$40,970 $— $40,970 $(347)$— $40,623 
Derivatives not subject to master netting agreements
872 — 872 
Total derivatives$41,842 $— $41,842 
Liabilities:
Derivatives subject to master netting agreements
$12,019 $— $12,019 $(347)$(10,146)$1,526 
Derivatives not subject to master netting agreements
82 — 82 
Total derivatives$12,101 $— $12,101