Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2019

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 of June 30, 2019, December 31, 2018 and June 30, 2018:

	Derivative Assets						Derivative Liabilities
(In thousands)	June 30, 2019		December 31, 2018		June 30, 2018		June 30, 2019		December 31, 2018		June 30, 2018
Derivatives designated as hedging instruments under ASC 815:
Interest rate derivatives designated as Cash Flow Hedges	$	616	$	6,270	$	16,059	$	20,851	$	1,656	$	—
Interest rate derivatives designated as Fair Value Hedges	417		2,636		5,708		6,698		1,756		280
Total derivatives designated as hedging instruments under ASC 815	$	1,033	$	8,906	$	21,767	$	27,549	$	3,412	$	280
Derivatives not designated as hedging instruments under ASC 815:
Interest rate derivatives	$	103,529	$	59,519	$	64,668	$	103,486	$	59,159	$	64,088
Interest rate lock commitments	4,054		3,405		4,543		96		2,694		2,512
Forward commitments to sell mortgage loans	96		—		7		5,112		1,486		1,376
Foreign exchange contracts	72		1,342		1,171		69		1,337		1,108
Total derivatives not designated as hedging instruments under ASC 815	$	107,751	$	64,266	$	70,389	$	108,763	$	64,676	$	69,084
Total Derivatives	$	108,784	$	73,172	$	92,156	$	136,312	$	68,088	$	69,364

Schedule Of Cash Flow Hedging Instruments

The table below provides details on these cash flow hedges, summarized by derivative type and maturity, as of June 30, 2019:

	June 30, 2019
(In thousands)	Notional		Fair Value
Maturity Date	Amount		Asset (Liability)
Interest Rate Swaps:
July 2019	$	250,000	$	—
August 2019	275,000		616
October 2021	25,000		(354		)
November 2021	20,000		(298		)
December 2021	165,000		(2,540		)
May 2022	370,000		(5,123		)
June 2022	160,000		(2,073		)
July 2022	230,000		(2,964		)
August 2022	235,000		(3,124		)
Interest Rate Collars:
September 2023	133,929		(4,375		)
Total Cash Flow Hedges	$	1,863,929	$	(20,235	)

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 or loss related to interest rate derivatives designated as cash flow hedges follows:

	Three Months Ended						Six Months Ended
(In thousands)	June 30, 2019			June 30, 2018			June 30, 2019			June 30, 2018
Unrealized gain at beginning of period	$	5,746		$	14,977		$	10,742		$	11,902
Amount reclassified from accumulated other comprehensive income to interest expense on deposits and other borrowings	(4,081		)	(1,339		)	(7,643		)	(2,019		)
Amount of (loss) gain recognized in other comprehensive income	(18,087		)	2,421			(19,521		)	6,176
Unrealized (loss) gain at end of period	$	(16,422	)	$	16,059		$	(16,422	)	$	16,059

Schedule of Carrying Amount of Hedged Assets/(Liabilities)

The following table presents the carrying amount of the hedged assets/(liabilities) and the cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged assets/(liabilities) that are designated as a fair value hedge accounting relationship as of June 30, 2019:

		June 30, 2019
(In thousands) Derivatives in Fair Value Hedging Relationships	Location in the Statement of Condition	Carrying Amount of the Hedged Assets/(Liabilities)		Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities)		Cumulative Amount of Fair Value Hedging Adjustment Remaining for any Hedged Assets (Liabilities) for which Hedge Accounting has been Discontinued
Interest rate swaps	Loans, net of unearned income	$	175,638	$	6,122	$	—
	Available-for-sale debt securities	1,458		86		—

The following table presents the loss or gain recognized related to derivative instruments that are designated as fair value hedges for the respective period:

(In thousands) Derivatives in Fair Value Hedging Relationships	Location of (Loss)/Gain Recognized in Income on Derivative	Three Months Ended		Six Months Ended
		June 30, 2019		June 30, 2019
Interest rate swaps	Interest and fees on loans	$	2	$	(40	)
	Interest income - investment securities	—		—

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:

(In thousands)		Three Months Ended						Six Months Ended
Derivative	Location in income statement	June 30, 2019			June 30, 2018			June 30, 2019			June 30, 2018
Interest rate swaps and caps	Trading (losses) gains, net	$	(126	)	$	(9	)	$	(317	)	$	144
Mortgage banking derivatives	Mortgage banking revenue	13			562			63			1,980
Foreign exchange contracts	Trading (losses) gains, net	30			112			18			69
Covered call options	Fees from covered call options	643			669			2,427			2,266
Derivative contract held as economic hedge on MSRs	Mortgage banking revenue	920			—			920			—

Offsetting Assets

The tables below summarize the Company's interest rate derivatives and offsetting positions as of the dates shown.

	Derivative Assets									Derivative Liabilities
	Fair Value									Fair Value
(Dollars in thousands)	June 30, 2019			December 31, 2018			June 30, 2018			June 30, 2019			December 31, 2018			June 30, 2018
Gross Amounts Recognized	$	104,562		$	68,425		$	86,435		$	131,035		$	62,571		$	64,368
Less: Amounts offset in the Statements of Financial Condition	—			—			—			—			—			—
Net amount presented in the Statements of Financial Condition	$	104,562		$	68,425		$	86,435		$	131,035		$	62,571		$	64,368
Gross amounts not offset in the Statements of Financial Condition
Offsetting Derivative Positions	(3,934		)	(28,124		)	(10,719		)	(3,934		)	(28,124		)	(10,719		)
Collateral Posted	—			(23,810		)	(61,880		)	(127,101		)	(2,640		)	(340		)
Net Credit Exposure	$	100,628		$	16,491		$	13,836		$	—		$	31,807		$	53,309

Offsetting Liabilities

The tables below summarize the Company's interest rate derivatives and offsetting positions as of the dates shown.

	Derivative Assets									Derivative Liabilities
	Fair Value									Fair Value
(Dollars in thousands)	June 30, 2019			December 31, 2018			June 30, 2018			June 30, 2019			December 31, 2018			June 30, 2018
Gross Amounts Recognized	$	104,562		$	68,425		$	86,435		$	131,035		$	62,571		$	64,368
Less: Amounts offset in the Statements of Financial Condition	—			—			—			—			—			—
Net amount presented in the Statements of Financial Condition	$	104,562		$	68,425		$	86,435		$	131,035		$	62,571		$	64,368
Gross amounts not offset in the Statements of Financial Condition
Offsetting Derivative Positions	(3,934		)	(28,124		)	(10,719		)	(3,934		)	(28,124		)	(10,719		)
Collateral Posted	—			(23,810		)	(61,880		)	(127,101		)	(2,640		)	(340		)
Net Credit Exposure	$	100,628		$	16,491		$	13,836		$	—		$	31,807		$	53,309