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Derivative Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Notional Amounts and Estimated Fair Values of Oil and Gas Derivative Positions Outstanding

The Company utilizes dealer quotations and observable market data inputs to substantiate internal valuation models. The notional amounts and estimated fair values of oil and gas derivative positions outstanding are presented in the following table:

 

 

 

 

 

June 30, 2022

 

 

December 31, 2021

 

Oil and Gas Swaps and Options

 

Notional Units

 

Notional
Amount

 

 

Estimated
Fair Value

 

 

Notional
Amount

 

 

Estimated
Fair Value

 

 

 

 

 

(Notional amounts and dollars in thousands)

 

Oil

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative assets

 

Barrels

 

 

3,599

 

 

$

40,214

 

 

 

2,585

 

 

$

6,563

 

Derivative liabilities

 

Barrels

 

 

(3,599

)

 

 

(39,506

)

 

 

(2,585

)

 

 

(6,129

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gas/Natural Gas Liquids

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative assets

 

MMBTUs/Gallons

 

 

34,990

 

 

 

14,960

 

 

 

19,752

 

 

 

2,383

 

Derivative liabilities

 

MMBTUs/Gallons

 

 

(34,990

)

 

 

(14,437

)

 

 

(19,752

)

 

 

(2,108

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Fair Value

 

Included in

 

 

 

 

 

 

 

 

 

 

 

 

Derivative assets

 

Other assets

 

 

 

 

 

55,174

 

 

 

 

 

 

8,946

 

Derivative liabilities

 

Other liabilities

 

 

 

 

 

(53,943

)

 

 

 

 

 

(8,237

)

Summary of Company's Recognized Income Related to Activity Included in Other Noninterest Income

The following table is a summary of the Company's recognized income related to the activity, which was included in other noninterest income:

 

 

Three Months Ended
June 30,

 

 

Six Months Ended June 30,

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

(Dollars in thousands)

 

 

(Dollars in thousands)

 

Derivative income

$

189

 

 

$

37

 

 

$

348

 

 

$

39