Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2021

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Schedule of the Notional Amount and Fair Value of the Derivative Financial Instruments

The notional amount and fair value of the Company’s derivative financial instruments as of March 31, 2021, and December 31, 2020, were as follows:

	March 31, 2021					December 31, 2020
(dollars in thousands)	Notional Amount		Fair Value			Notional Amount		Fair Value
Interest Rate Lock Commitments	$	100,322	$	2,704		$	102,881	$	4,947
Forward Commitments		102,778		748			158,759		(740	)
Interest Rate Swap Agreements
Receive Fixed/Pay Variable Swaps		1,370,386		24,416			1,362,778		90,130
Pay Fixed/Receive Variable Swaps		1,370,386		(11,627	)		1,362,778		(17,197	)
Foreign Exchange Contracts		88,919		2,345			90,587		866
Conversion Rate Swap Agreement		129,020		—			133,286		—

Derivative Financial Instruments, their Fair Values, and Balance Sheet Location

The following table presents the Company’s derivative financial instruments, their fair values, and their location in the consolidated statements of condition as of March 31, 2021, and December 31, 2020:

Derivative Financial Instruments	March 31, 2021				December 31, 2020
Not Designated as Hedging Instruments 1	Asset		Liability		Asset		Liability
(dollars in thousands)	Derivatives		Derivatives		Derivatives		Derivatives
Interest Rate Lock Commitments	$	2,704	$	—	$	4,947	$	—
Forward Commitments		794		46		—		740
Interest Rate Swap Agreements		42,339		29,561		90,342		17,409
Foreign Exchange Contracts		1,140		2,395		878		12
Total	$	46,977	$	32,002	$	96,167	$	18,161

¹ Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the consolidated statements of condition.

Derivative Financial Instruments and the Amount and Location of the Net Gains or Losses Recognized in the Statements of Income

The following table presents the Company’s derivative financial instruments and the amount and location of the net gains or losses recognized in the consolidated statements of income for the three months ended March 31, 2021, and March 31, 2020:

	Location of
Derivative Financial Instruments	Net Gains (Losses)	Three Months Ended
Not Designated as Hedging Instruments	Recognized in the	March 31,
(dollars in thousands)	Statements of Income	2021		2020
Interest Rate Lock Commitments	Mortgage Banking	$	773	$	6,303
Forward Commitments	Mortgage Banking		3,227		(2,184	)
Interest Rate Swap Agreements	Other Noninterest Income		1,604		6,438
Foreign Exchange Contracts	Other Noninterest Income		271		714
Total		$	5,875	$	11,271