Derivatives and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2016

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 at September 30, 2016 and December 31, 2015 (in thousands):

	At September 30, 2016
	Asset Derivatives			Liability Derivatives
	Consolidated Statements of Financial Condition	Fair Value		Consolidated Statements of Financial Condition	Fair Value
Derivatives not designated as a hedging instrument:
Interest rate products	Other assets	$	18,634	Other liabilities	$	19,468
Credit contracts	Other assets	7		Other liabilities	26
Total derivatives not designated as a hedging instrument		$	18,641		$	19,494
Derivatives designated as a a hedging instrument:
Interest rate products	Other assets	$	—	Other liabilities	$	722
Total derivatives designated as a hedging instrument		$	—		$	722

	At December 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 instrument:
Interest rate products	Other assets	$	6,849	Other liabilities	$	6,623
Credit contracts	Other assets	5		Other liabilities	—
Total derivatives not designated as a hedging instrument		$	6,854		$	6,623
Derivatives designated as a a hedging instrument:
Interest rate products	Other assets	$	—	Other liabilities	$	122
Total derivatives designated as a hedging instrument		$	—		$	122

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 during the three and nine months ended September 30, 2016 and 2015 (in thousands).

		Gain (loss) recognized in Income on derivatives for the three months ended
	Consolidated Statements of Income	September 30, 2016			September 30, 2015
Derivatives not designated as a hedging instrument:
Interest rate products	Other income (expense)	$	(95	)	$	(335	)
Credit contracts	Other income (expense)	5			(2		)
Total		$	(90	)	$	(337	)
Derivatives designated as a hedging instrument:
Interest rate products	Other income (expense)	$	(129	)	$	(55	)
Total		$	(129	)	$	(55	)

		Gain (loss) recognized in Income on derivatives for the nine months ended
	Consolidated Statements of Income	September 30, 2016			September 30, 2015
Derivatives not designated as a hedging instrument:
Interest rate products	Other income (expense)	$	(1,060	)	$	75
Credit contracts	Other income (expense)	103			1
Total		$	(957	)	$	76
Derivatives designated as a hedging instrument:
Interest rate products	Other income (expense)	$	(366	)	$	(55	)
Total		$	(366	)	$	(55	)