Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Financial Instruments

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statements of Condition as of December 31, 2012 and December 31, 2011:

	Derivative Assets					Derivative Liabilities
	Fair Value					Fair Value
(Dollars in thousands)	Balance Sheet Location	December 31, 2012		December 31, 2011		Balance Sheet Location	December 31, 2012		December 31, 2011
Derivatives designated as hedging instruments under ASC 815:
Interest rate derivatives designated as Cash Flow Hedges	Other assets	$	2	$	119	Other liabilities	$	7,988	$	11,032
Interest rate derivatives designated as Fair Value Hedges	Other assets	$	104	$	—	Other liabilities	$	—	$	—
Total derivatives designated as hedging instruments under ASC 815		$	106	$	119		$	7,988	$	11,032
Derivatives not designated as hedging instruments under ASC 815:
Interest rate derivatives	Other assets	47,440		34,002		Other liabilities	45,767		33,892
Interest rate lock commitments	Other assets	6,069		4,307		Other liabilities	937		127
Forward commitments to sell mortgage loans	Other assets	277		179		Other liabilities	3,057		5,030
Foreign exchange contracts	Other assets	14		—		Other liabilities	2		—
Total derivatives not designated as hedging instruments under ASC 815		$	53,800	$	38,488		$	49,763	$	39,049
Total derivatives		$	53,906	$	38,607		$	57,751	$	50,081

Schedule of Interest Rate Swaps

The table below provides details on each of these cash flow hedges as of December 31, 2012:

(Dollars in thousands)	December 31, 2012
Maturity Date	Notional Amount		Fair Value Gain (Loss)
Interest Rate Swaps:
September 2013	$	50,000	$	(1,777	)
September 2013	40,000		(1,502		)
September 2016	50,000		(3,098		)
October 2016	25,000		(1,611		)
Total Interest Rate Swaps	165,000		(7,988		)
Interest Rate Caps:
September 2014	20,000		1
September 2014	40,000		1
Total Interest Rate Caps	60,000		2
Total Cash Flow Hedges	$	225,000	$	(7,986	)

Rollforward of Amounts in Accumulated Other Comprehensive Income Related to Interest Rate Swaps Designated as Cash Flow Hedges

A rollforward of the amounts in accumulated other comprehensive income related to interest rate derivatives designated as cash flow hedges follows:

	December 31,
(Dollars in thousands)	2012			2011
Unrealized loss at beginning of period	$	(11,633	)	$	(13,323	)
Amount reclassified from accumulated other comprehensive income to interest expense on junior subordinated debentures	5,850			8,120
Amount of loss recognized in other comprehensive income	(2,890		)	(6,430		)
Unrealized loss at end of period	$	(8,673	)	$	(11,633	)

Summary Amounts Included in Consolidated Statement of Income Related to Derivatives

Amounts included in the consolidated statements of income related to derivative instruments not designated in hedge relationships were as follows:

(Dollars in thousands)		December 31,
Derivative	Location in income statement	2012			2011
Interest rate swaps and floors	Other income	$	(1,974	)	$	42
Mortgage banking derivatives	Mortgage banking revenue	1,659			(1,301		)
Covered call options	Fees from covered call options	10,476			13,570
Foreign exchange contracts	Other income	12			—

The following table presents the gain/(loss) and hedge ineffectiveness recognized on derivative instruments and the related hedged items that are designated as a fair value hedge accounting relationship as of December 31, 2012:

(Dollars in thousands) Derivatives in Fair Value Hedging Relationships	Location of Gain or (Loss) Recognized in Income on Derivative	Amount of Gain or (Loss) Recognized in Income on Derivative Year Ended December 31,				Amount of Gain or (Loss) Recognized in Income on Hedged Item Year Ended December 31,			Income Statement Gain/ (Loss) due to Hedge Ineffectiveness Year Ended December 31,
		2012			2011	2012		2011	2012		2011
Interest rate products	Other income	$	(480	)	—	$	535	—	$	55	—