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Derivative Financial Instruments (Tables)
 9 Months Ended
Sep. 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 September 30, 2019, December 31, 2018 and September 30, 2018:
 
Derivative Assets
 
Derivative Liabilities
(In thousands)
September 30,
2019
 
December 31,
2018
 
September 30,
2018
 
September 30,
2019
 
December 31,
2018
 
September 30,
2018
Derivatives designated as hedging instruments under ASC 815:
 
 
 
 
 
 
 
 
 
 
 
Interest rate derivatives designated as Cash Flow Hedges
$
—

 
$
6,270

 
$
16,271

 
$
25,895

 
$
1,656

 
$
—

Interest rate derivatives designated as Fair Value Hedges
256

 
2,636

 
5,126

 
8,839

 
1,756

 
—

Total derivatives designated as hedging instruments under ASC 815
$
256

 
$
8,906

 
$
21,397

 
$
34,734

 
$
3,412

 
$
—

Derivatives not designated as hedging instruments under ASC 815:
 
 
 
 
 
 
 
 
 
 
 
Interest rate derivatives
$
134,130

 
$
59,519

 
$
69,865

 
$
134,163

 
$
59,159

 
$
69,342

Interest rate lock commitments
3,373

 
3,405

 
4,128

 
148

 
2,694

 
—

Forward commitments to sell mortgage loans
176

 
—

 
12

 
1,658

 
1,486

 
1,330

Foreign exchange contracts
351

 
1,342

 
751

 
306

 
1,337

 
709

Total derivatives not designated as hedging instruments under ASC 815
$
138,030

 
$
64,266

 
$
74,756

 
$
136,275

 
$
64,676

 
$
71,381

Total Derivatives
$
138,286

 
$
73,172

 
$
96,153

 
$
171,009

 
$
68,088

 
$
71,381
Schedule Of Cash Flow Hedging Instruments
The table below provides details on these cash flow hedges, summarized by derivative type and maturity, as of September 30, 2019:
 
September 30, 2019
(In thousands)
Notional
 
Fair Value
Maturity Date
Amount
 
Asset (Liability)
Interest Rate Swaps:
 
 
 
October 2021
$
25,000

 
$
(386
)
November 2021
20,000

 
(334
)
December 2021
165,000

 
(2,841
)
May 2022
370,000

 
(6,628
)
June 2022
160,000

 
(2,796
)
July 2022
230,000

 
(4,027
)
August 2022
235,000

 
(4,196
)
Interest Rate Collars:
 
 
 
September 2023
128,571

 
(4,687
)
Total Cash Flow Hedges
$
1,333,571

 
$
(25,895
)
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
 
Nine Months Ended
(In thousands)
September 30,
2019
 
September 30,
2018
 
September 30,
2019
 
September 30,
2018
Unrealized (loss) gain at beginning of period
$
(16,422
)
 
$
16,059

 
$
10,742

 
$
11,902

Amount reclassified from accumulated other comprehensive income to interest expense on deposits and other borrowings
(2,428
)
 
(2,319
)
 
(10,071
)
 
(4,338
)
Amount of (loss) gain recognized in other comprehensive income
(4,420
)
 
2,531

 
(23,941
)
 
8,707

Unrealized (loss) gain at end of period
$
(23,270
)
 
$
16,271

 
$
(23,270
)
 
$
16,271
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 September 30, 2019:

 
 
 
September 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
 
$
165,226

 
$
8,458

 
$
—

 
Available-for-sale debt securities
 
1,442

 
101

 
—


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
 
Nine Months Ended
September 30, 2019
 
September 30, 2019
Interest rate swaps
Interest and fees on loans
 
$
(2
)
 
$
(42
)
 
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
 
Nine Months Ended
Derivative
Location in income statement
 
September 30,
2019
 
September 30,
2018
 
September 30,
2019
 
September 30,
2018
Interest rate swaps and caps
Trading (losses) gains, net
 
$
(75
)
 
$
(55
)
 
$
(392
)
 
$
89

Mortgage banking derivatives
Mortgage banking revenue
 
1,026

 
(1,122
)
 
1,089

 
858

Foreign exchange contracts
Trading (losses) gains, net
 
54

 
(18
)
 
72

 
51

Covered call options
Fees from covered call options
 
—

 
627

 
2,427

 
2,893

Derivative contract held as economic hedge on MSRs
Mortgage banking revenue
 
82

 
—

 
1,002

 
—
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
(In thousands)
September 30,
2019
 
December 31,
2018
 
September 30,
2018
 
September 30,
2019
 
December 31,
2018
 
September 30,
2018
Gross Amounts Recognized
$
134,386

 
$
68,425

 
$
91,262

 
$
168,897

 
$
62,571

 
$
69,342

Less: Amounts offset in the Statements of Financial Condition
—

 
—

 
—

 
—

 
—

 
—

Net amount presented in the Statements of Financial Condition
$
134,386

 
$
68,425

 
$
91,262

 
$
168,897

 
$
62,571

 
$
69,342

Gross amounts not offset in the Statements of Financial Condition
 
 
 
 
 
 
 
 
 
 
 
Offsetting Derivative Positions
(1,572
)
 
(28,124
)
 
(7,887
)
 
(1,572
)
 
(28,124
)
 
(7,887
)
Collateral Posted
—

 
(23,810
)
 
(76,530
)
 
(167,325
)
 
(2,640
)
 
(340
)
Net Credit Exposure
$
132,814

 
$
16,491

 
$
6,845

 
$
—

 
$
31,807

 
$
61,115
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
(In thousands)
September 30,
2019
 
December 31,
2018
 
September 30,
2018
 
September 30,
2019
 
December 31,
2018
 
September 30,
2018
Gross Amounts Recognized
$
134,386

 
$
68,425

 
$
91,262

 
$
168,897

 
$
62,571

 
$
69,342

Less: Amounts offset in the Statements of Financial Condition
—

 
—

 
—

 
—

 
—

 
—

Net amount presented in the Statements of Financial Condition
$
134,386

 
$
68,425

 
$
91,262

 
$
168,897

 
$
62,571

 
$
69,342

Gross amounts not offset in the Statements of Financial Condition
 
 
 
 
 
 
 
 
 
 
 
Offsetting Derivative Positions
(1,572
)
 
(28,124
)
 
(7,887
)
 
(1,572
)
 
(28,124
)
 
(7,887
)
Collateral Posted
—

 
(23,810
)
 
(76,530
)
 
(167,325
)
 
(2,640
)
 
(340
)
Net Credit Exposure
$
132,814

 
$
16,491

 
$
6,845

 
$
—

 
$
31,807

 
$
61,115