Derivatives and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Financial Instruments

The tables below present the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statements of Financial Condition at March 31, 2019 and December 31, 2018 (in thousands):

	At March 31, 2019
	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	$	16,619	Other liabilities	17,959
Credit contracts	Other assets	301		Other liabilities	—
Total derivatives not designated as a hedging instrument		$	16,920		17,959
Derivatives designated as a hedging instrument:
Interest rate products	Other assets	$	798	Other liabilities	—
Total derivatives designated as a hedging instrument		$	798		—

	At December 31, 2018
	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	$	14,154	Other liabilities	14,766
Credit contracts	Other assets	251		Other liabilities	—
Total derivatives not designated as a hedging instrument		$	14,405		14,766
Derivatives designated as a hedging instrument:
Interest rate products	Other assets	$	1,229	Other liabilities	—
Total derivatives designated as a hedging instrument		$	1,229		—

Effect of the derivative financial instruments on the Income Statement

The table below presents the effect of the Company’s derivative financial instruments on the Consolidated Statements of Income during the three months ended March 31, 2019 and 2018 (in thousands).

		Gain (loss) recognized in income on derivatives for the three months ended
	Consolidated Statements of Income	March 31, 2019		March 31, 2018
Derivatives not designated as a hedging instrument:
Interest rate products	Other income	$	(673)	302
Credit contracts	Other income	(4)		—
Total derivatives not designated as a hedging instrument		$	(677)	302
Derivatives designated as a hedging instrument:
Interest rate products	Interest expense	$	162	6
Total derivatives designated as a hedging instrument		$	162	6