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Derivatives and Hedging Activities (Tables)
12 Months Ended
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of fair value and classification of derivative financial instruments on the consolidated balance sheets and the effect of the derivative financial instruments on the consolidated income statements
The following tables presents the Company's customer related derivative positions for the periods indicated below for those derivatives not designated as hedging.
 
Notional Amount Maturing
 
Number of Positions
 
Less than 1 year
 
Less than 2 years
 
Less than 3 years
 
Less than 4 years
 
Thereafter
 
Total
 
Fair Value
 
December 31, 2019
 
(Dollars In Thousands)
Loan level derivatives
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Receive fixed, pay variable
119

 
$
24,777

 
$

 
$
31,131

 
$
16,794

 
$
1,028,491

 
$
1,101,193

 
$
58,102

Pay fixed, receive variable
119

 
24,777

 

 
31,131

 
16,794

 
1,028,491

 
1,101,193

 
58,102

Risk participation-out agreements
40

 
13,967

 

 

 
7,143

 
214,583

 
235,693

 
1,229

Risk participation-in agreements
7

 

 

 

 
19,000

 
36,281

 
55,281

 
283

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Buys foreign currency, sells U.S. currency
16

 
$
1,125

 
$

 
$

 
$

 
$

 
$
1,125

 
$
54

Sells foreign currency, buys U.S. currency
18

 
1,230

 

 

 

 

 
1,230

 
53

 
Notional Amount Maturing
 
Number of Positions
 
Less than 1 year
 
Less than 2 years
 
Less than 3 years
 
Less than 4 years
 
Thereafter
 
Total
 
Fair Value
 
December 31, 2018
 
(Dollars In Thousands)
Loan level derivatives
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Receive fixed, pay variable
86

 
$
1,931

 
$
26,419

 
$

 
$
31,762

 
$
654,388

 
$
714,500

 
$
6,081

Pay fixed, receive variable
86

 
1,931

 
26,419

 

 
31,762

 
654,388

 
714,500

 
6,081

Risk participation-out agreements
26

 

 
14,892

 

 

 
85,639

 
100,531

 
344

Risk participation-in agreements
5

 

 

 

 

 
35,838

 
35,838

 
84

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange contracts
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Buys foreign currency, sells U.S. currency
22

 
$
6,573

 
$

 
$

 
$

 
$

 
$
6,573

 
$
123

Sells foreign currency, buys U.S. currency
37

 
6,582

 

 

 

 

 
6,582

 
131

Changes in the fair value are recognized directly in the Company's consolidated statements of income and are included in other non-interest income in the consolidated statements of income. The table below presents the net gain (loss) recognized in income due to changes in the fair value for the year ended December 31, 2019 and 2018.
 
Year Ended December 31,
 
2019
 
2018
 
(In Thousands)
Net gain recognized in income on:
 
 
 
Net risk participation agreements
686

 
205

Foreign exchange contracts
(7
)
 
1

Total
$
679

 
$
206


Schedule of offsetting derivatives and amounts subject to master netting agreements not offset in the audited consolidated balance sheet
The tables below present the offsetting of derivatives and amounts subject to master netting agreements not offset in the consolidated balance sheet at the dates indicated.
 
At December 31, 2019
 
Gross
Amounts Recognized
 
Gross Amounts
Offset in the
Statement of Financial Position
 
Net Amounts  Presented in the Statement of Financial Position
 
Gross Amounts Not Offset in the
Statement of Financial Position
 
Net Amount
 
 
 
 
Financial Instruments Pledged
 
Cash Collateral Pledged
 
 
(In Thousands)
Asset derivatives
 
 
 
 
 
 
 
 
 
 
 
Loan level derivatives
$
59,365

 
$

 
$
59,365

 
$

 
$
11,900

 
$
47,465

Risk participation-out agreements
1,229

 

 
1,229

 

 

 
1,229

Foreign exchange contracts
54

 

 
54

 

 

 
54

Total
$
60,648

 
$

 
$
60,648

 
$

 
$
11,900

 
$
48,748

 
 
 
 
 
 
 
 
 
 
 
 
Liability derivatives
 
 
 
 
 
 
 
 
 
 
 
Loan level derivatives
$
59,365

 
$

 
$
59,365

 
$
86,521

 
$

 
$
(27,156
)
Risk participation-in agreements
283

 

 
283

 

 

 
283

Foreign exchange contracts
53

 

 
53

 

 

 
53

Total
$
59,701

 
$

 
$
59,701

 
$
86,521

 
$

 
$
(26,820
)
 
At December 31, 2018
 
Gross
Amounts Recognized
 
Gross Amounts
Offset in the
Statement of Financial Position
 
Net Amounts  Presented in the Statement of Financial Position
 
Gross Amounts Not Offset in the
Statement of Financial Position
 
Net Amount
 
 
 
 
Financial Instruments Pledged
 
Cash Collateral Pledged
 
 
(In Thousands)
Asset derivatives
 
 
 
 
 
 
 
 
 
 
 
Loan level derivatives
$
22,013

 
$

 
$
22,013

 
$

 
$
50

 
$
21,963

Risk participation-out agreements
344

 

 
344

 

 

 
344

Foreign exchange contracts
131

 

 
131

 

 

 
131

Total
$
22,488

 
$

 
$
22,488

 
$

 
$
50

 
$
22,438

 
 
 
 
 
 
 
 
 
 
 
 
Liability derivatives
 
 
 
 
 
 
 
 
 
 
 
Loan level derivatives
$
22,013

 
$

 
$
22,013

 
$
5,877

 
$

 
$
16,136

Risk participation-in agreements
84

 

 
84

 

 

 
84

Foreign exchange contracts
123

 

 
123

 

 

 
123

Total
$
22,220

 
$

 
$
22,220

 
$
5,877

 
$

 
$
16,343