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Derivative Instruments and Hedging Activities (Tables)
12 Months Ended
Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Fair Value of Derivative Financial Instruments and Classification on the Balance Sheet
The table below presents the fair value of the Corporation’s derivative financial instruments as well as their classification on the Balance Sheet as of December 31, 2021 and December 31, 2020.
 Asset DerivativesLiability Derivatives
 December 31, 2021December 31, 2020December 31, 2021December 31, 2020
 Balance Sheet LocationFair
Value
Balance Sheet LocationFair
Value
Balance Sheet LocationFair
Value
Balance Sheet LocationFair
Value
Derivatives designated as hedging instruments:        
Interest rate contractsOther Assets$— Other Assets$— Other Liabilities$835 Other Liabilities$2,018 
Derivatives not designated as hedging instruments:        
Interest rate contractsOther Assets$41,133 Other Assets$74,335 Other Liabilities$41,133 Other Liabilities$74,335 
Amount of Gain (Loss) Recognized in Other Comprehensive Income
The amount of gain (loss) recognized in other comprehensive income is included in the table below for the periods indicated.
Derivatives in Cash Flow Hedging RelationshipsAmount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative
 (Effective Portion)
For the Year Ended December 31,
20212020
Interest rate products$138 $(1,480)
Effect of Derivative Financial Instruments on the Income Statement
The tables below present the effect of the Corporation’s derivative financial instruments on the Income Statement for the years ended December 31, 2021, 2020 and 2019.
Derivatives Designated as Hedging
Instruments under
FASB ASC 815-10
Location of Gain (Loss) Reclassified from Accumulated Other Comprehensive Income (Effective Portion)Amount of Gain (Loss) Reclassified from Other Comprehensive Income into Income (Effective Portion)
202120202019
Interest rate contractsInterest expense$(1,044)$(906)$(334)