Derivatives and Balance Sheet Offsetting (Tables)

9 Months Ended

Sep. 30, 2020

Derivative [Line Items]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table presents the fair value of derivatives, as well as their classification on the Consolidated Balance Sheet at September 30, 2020 and December 31, 2019:

Asset Derivatives

Liability Derivatives

September 30, 2020

December 31, 2019

September 30, 2020

December 31, 2019

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

(in thousands)

Derivatives designated as hedging instruments:

Interest rate collar

Other assets

$

35,668

Other assets

$

14,727

Other liabilities

$

—

Other liabilities

$

—

Derivatives not designated as hedging instruments:

Interest rate swap contracts

Other assets

$

53,202

Other assets

$

19,144

Other liabilities

$

53,677

Other liabilities

$

19,145

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]

The table below presents the effect of cash flow hedge accounting on accumulated other comprehensive income (loss) at September 30, 2020 and 2019:

	Amount of Gain or (Loss) Recognized in Accumulated Other Comprehensive Income on Derivative				Location of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income	Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income
	Three Months Ended September 30,					Three Months Ended September 30,
	2020		2019			2020		2019
	(in thousands)
Interest rate collar	$	(81)	$	4,088	Interest income	$	2,673	$	76
	Nine Months Ended September 30,					Nine Months Ended September 30,
	2020		2019			2020		2019
Interest rate collar	$	26,744	$	19,779	Interest income	$	5,803	$	76

Balance Sheet Offsetting [Table Text Block]

The following tables show the gross interest rate swap contracts, collar agreements and repurchase agreements in the Consolidated Balance Sheets and the respective collateral received or pledged in the form of cash or other financial instruments. The collateral amounts in these tables are limited to the outstanding balances of the related asset or liability. Therefore, instances of over-collateralization are not shown.

	Gross Amounts of Recognized Assets/Liabilities		Gross Amounts Offset in the Consolidated Balance Sheets		Net Amounts of Assets/Liabilities Presented in the Consolidated Balance Sheets		Gross Amounts Not Offset in the Consolidated Balance Sheets
							Collateral Pledged/Received		Net Amount
September 30, 2020	(in thousands)
Assets
Interest rate swap contracts	$	53,202	$	—	$	53,202	$	—	$	53,202
Interest rate collar	$	35,668	$	—	$	35,668	$	(35,668)	—
Liabilities
Interest rate swap contracts	$	53,677	$	—	$	53,677	$	(53,677)	$	—
Repurchase agreements	$	26,966	$	—	$	26,966	$	(26,966)	$	—
December 31, 2019
Assets
Interest rate swap contracts	$	19,144	$	—	$	19,144	$	—	$	19,144
Interest rate collar	$	14,727	$	—	$	14,727	$	(14,727)	—
Liabilities
Interest rate swap contracts	$	19,145	$	—	$	19,145	$	(19,145)	$	—
Repurchase agreements	$	64,437	$	—	$	64,437	$	(64,437)	$	—

Carrying Value of Securities Pledged As Collateral

The following table summarizes the carrying value of securities pledged as collateral to secure public funds, borrowings and other purposes as permitted or required by law:

	September 30, 2020
	(in thousands)
To secure public funds	$	441,379
To secure borrowings	111,978
Other securities pledged	168,870
Total securities pledged as collateral	$	722,227

Available-for-sale Securities [Member]

Derivative [Line Items]

Carrying Value of Securities Pledged As Collateral

The following table presents the class of collateral pledged for repurchase agreements as well as the remaining contractual maturity of the repurchase agreements:

	Remaining contractual maturity of the agreements
	Overnight and continuous		Up to 30 days		30 - 90 days		Greater than 90 days		Total
September 30, 2020	(in thousands)
Class of collateral pledged for repurchase agreements
U.S. government agency and government-sponsored enterprise mortgage-backed securities and collateralized mortgage obligations	$	26,966	$	—	$	—	$	—	$	26,966
Gross amount of recognized liabilities for repurchase agreements									26,966
Amounts related to agreements not included in offsetting disclosure									$	—