Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2022

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 June 30, 2022, and December 31, 2021, were as follows:

	June 30, 2022					December 31, 2021
(dollars in thousands)	Notional Amount		Fair Value			Notional Amount		Fair Value
Interest Rate Lock Commitments	$	10,914	$	243		$	45,857	$	1,084
Forward Commitments		12,423		(55	)		58,523		(35	)
Interest Rate Swap Agreements
Receive Fixed/Pay Variable Swaps		1,548,424		(97,045	)		1,400,322		28,742
Pay Fixed/Receive Variable Swaps		1,548,424		13,853			1,400,322		(5,922	)
Foreign Exchange Contracts		91,516		(2,164	)		102,548		(674	)
Conversion Rate Swap Agreement		118,728		—			131,672		—

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 June 30, 2022, and December 31, 2021:

Derivative Financial Instruments	June 30, 2022				December 31, 2021
Not Designated as Hedging Instruments 1	Asset		Liability		Asset		Liability
(dollars in thousands)	Derivatives		Derivatives		Derivatives		Derivatives
Interest Rate Lock Commitments	$	245	$	2	$	1,084	$	—
Forward Commitments		13		68		17		52
Interest Rate Swap Agreements		22,174		105,365		40,733		17,913
Foreign Exchange Contracts		62		2,226		177		851
Total	$	22,494	$	107,661	$	42,011	$	18,816

¹ Asset derivatives are included in other assets and liability derivatives are included in other liabilities in the consolidated statements of condition. The Company’s free-standing derivative financial instruments are required to be carried at their fair value on the Company’s 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 and six months ended June 30, 2022, and June 30, 2021:

	Location of
Derivative Financial Instruments	Net Gains (Losses)	Three Months Ended					Six Months Ended
Not Designated as Hedging Instruments	Recognized in the	June 30,					June 30,
(dollars in thousands)	Statements of Income	2022		2021			2022			2021
Interest Rate Lock Commitments	Mortgage Banking	$	66	$	4,071		$	(1,013	)	$	4,844
Forward Commitments	Mortgage Banking		314		(1,576	)		2,221			1,651
Interest Rate Swap Agreements	Other Noninterest Income		2,017		1,097			6,099			2,701
Foreign Exchange Contracts	Other Noninterest Income		232		448			506			719
Total		$	2,629	$	4,040		$	7,813		$	9,915