Derivatives and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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 Financial Condition as of March 31, 2015 and December 31, 2014 (in thousands):

	As of March 31, 2015
	Asset Derivatives			Liability Derivatives
	Consolidated Statements of Financial Condition	Fair Value		Consolidated Statements of Financial Condition	Fair Value
Derivatives not designated as a hedging instruments:
Interest rate products	Other assets	$	3,208	Other liabilities	$	3,285
Credit contracts	Other assets	8			—
Total derivatives not designated as hedging instruments		$	3,216		$	3,285

	As of December 31, 2014
	Asset Derivatives			Liability Derivatives
	Consolidated Statements of Financial Condition	Fair Value		Consolidated Statements of Financial Condition	Fair Value
Derivatives not designated as a hedging instruments:
Interest rate products	Other assets	$	2,040	Other liabilities	$	2,052
Credit contracts	Other assets	6			—
Total derivatives not designated as hedging instruments		$	2,046		$	2,052

Effect of the derivative financial instruments on the Income Statement

The tables below present the effect of the Company’s derivative financial instruments on the Consolidated Statements of Income for the quarter ended March 31, 2015 (in thousands).

		Gain (loss) recognized in Income on derivatives
	Consolidated Statements of Income	Three months ended March 31, 2015
Derivatives not designated as a hedging instruments:
Interest rate products	Other income	$	(65	)
Credit contracts	Other income	1
Total		$	(64	)