Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2019

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Fair Values of Derivative Instruments on the Balance Sheet

The table below presents the notional amounts, respective fair values of the Company’s derivative financial instruments, as well as their classification on the balance sheet as of December 31 (in thousands):

					Asset derivatives					Liability derivatives
	Gross notional amount				Balance	Fair value				Balance	Fair value
	2019		2018		sheet line item	2019		2018		sheet line item	2019		2018
Derivatives designated as hedging instruments
Cash flow hedges	$	100,000	$	100,000	Other assets	$	-	$	631	Other liabilities	$	-	$	-
Total derivatives	$	100,000	$	100,000		$	-	$	631		$	-	$	-
Derivatives not designated as hedging instruments
Interest rate swaps (1)	$	272,962	$	71,977	Other assets	$	6,419	$	1,803	Other liabilities	$	6,720	$	2,006
Credit contracts		68,324		36,670	Other assets		13		-	Other liabilities		18		24
Mortgage banking		11,859		7,519	Other assets		119		83	Other liabilities		7		27
Total derivatives	$	353,145	$	116,166		$	6,551	$	1,886		$	6,745	$	2,057

⁽¹⁾ The Company secured its obligations under these contracts with $6.7 million and $1.3 million in cash at December 31, 2019 and 2018, respectively.

Effect of Derivative Instruments on the Income Statement

The table below presents the effect of the Company’s derivative financial instruments on the income statement for the years ended December 31 (in thousands):

		Gain (loss) recognized in income
Undesignated derivatives	Line item of gain (loss) recognized in income	2019		2018		2017
Interest rate swaps	Income from derivative instruments, net	$	2,189	$	759	$	-
Credit contracts	Income from derivative instruments, net		29		184		131
Mortgage banking	Income from derivative instruments, net		56		29		-
Total undesignated		$	2,274	$	972	$	131