| Summary of Fair Value of Derivative Financial Instruments and Classification on the Balance Sheet |
The table below presents the fair value of the Corporation’s non-designated hedges, as well as their classification on the Consolidated Condensed Balance Sheets, as of June 30, 2025 and December 31, 2024.
| | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | Notional Amount | | Fair Value | | Notional Amount | | Fair Value | | Included in other assets: | | | | | | | | | Interest rate swaps | $ | 1,461,316 | | | $ | 56,401 | | | $ | 1,386,757 | | | $ | 76,528 | | | Forward contracts related to mortgage loans to be delivered for sale | 37,977 | | 894 | | 39,142 | | 465 | | Interest rate lock commitments | 39,065 | | 265 | | 15,000 | | 140 | | Included in other assets | $ | 1,538,358 | | | $ | 57,560 | | | $ | 1,440,899 | | | $ | 77,133 | | | Included in other liabilities: | | | | | | | | | Interest rate swaps | $ | 1,592,815 | | | $ | 56,319 | | | $ | 1,486,764 | | | $ | 76,450 | | | Forward contracts related to mortgage loans to be delivered for sale | 36,194 | | 227 | | 13,020 | | 18 | | Interest rate lock commitments | 2,251 | | 6 | | 14,457 | | 100 | | Included in other liabilities | $ | 1,631,260 | | | $ | 56,552 | | | $ | 1,514,241 | | | $ | 76,568 | |
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| Summary of Effect of Derivative Financial Instruments on the Income Statement |
The amount of gain (loss) recognized into income related to non-designated hedging instruments is included in the table below for the periods indicated. | | | | | | | | | | | | | | | | | | | | | Derivatives Not Designated as
Hedging Instruments under FASB ASC 815-10 | | Location of Gain (Loss)
Recognized Income on
Derivative | | Amount of Gain (Loss)
Recognized into Income on
Derivatives | | | Three Months Ended June 30, 2025 | | Three Months Ended June 30, 2024 | | Forward contracts related to mortgage loans to be delivered for sale | | Net gains and fees on sales of loans | | $ | 306 | | | $ | 395 | | | Interest rate lock commitments | | Net gains and fees on sales of loans | | 18 | | | (33) | | | Total net gain (loss) recognized in income | | | | $ | 324 | | | $ | 362 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Derivatives Not Designated as
Hedging Instruments under FASB ASC 815-10 | | Location of Gain (Loss)
Recognized Income on
Derivative | | Amount of Gain (Loss)
Recognized into Income on
Derivatives | | | Six Months Ended June 30, 2025 | | Six Months Ended June 30, 2024 | | Forward contracts related to mortgage loans to be delivered for sale | | Net gains and fees on sales of loans | | $ | 74 | | | $ | 393 | | | Interest rate lock commitments | | Net gains and fees on sales of loans | | 219 | | | (45) | | | Total net gain (loss) recognized in income | | | | $ | 293 | | | $ | 348 | |
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